The War at the End of the US Dollar

The War at the End of the US Dollar | Resource Investor

The history of the US dollar is closely linked to US involvement in a series of wars.  The Bretton Woods Accord and the resulting world reserve currency status of the US dollar were both byproducts of World War II (1939-1945). The Korean War (1950-1953) was followed six years later by the Vietnam War (1959-1975) which led to the end of the Bretton Woods system.  Unfettered by the constraint of gold backing after 1971, the US dollar became a weapon in the Cold War (1945-1991) between the US and the former Union of Soviet Socialist Republics (USSR).  Each war corresponded with an increase in the US money supply. The Gulf War (1990-1991) was followed by wars in Afghanistan, beginning in 2001, and in Iraq, beginning in 2003, and, simultaneously, by the US-led War on Terror that began in 2001.  Like the wars that came before them, the recent staccato of US wars is correlated with increases in the US money supply.  The Iraq war, for example, is estimated to have cost as much as $4 trillion.

The Race to the Year End Fiscal Cliff

The Race to the Year End Fiscal Cliff | Resource Investor

After spending all of this year ignoring the fiscal disaster that the US is facing at the end of 2012, markets are finally taking off the blinders. That might explain why the S&P 500 has dropped 4.3% so far from its April 1 peak and why it may have more to come.

JPMorgan wins narrowing of $8.6 billion Lehman lawsuit

JPMorgan wins narrowing of $8.6 billion Lehman lawsuit

April 20 (Bloomberg) -- JPMorgan Chase & Co., fighting Lehman Brothers Holdings Inc. over $8.6 billion the defunct firm wants back, won dismissal of some of Lehman’s claims, leaving it to fight the rest.  U.S. Bankruptcy Judge James Peck said Lehman cannot claim money from JPMorgan for securities transactions governed by so- called safe harbor law, devised to protect banks dealing with weak companies. Lehman is entitled to pursue the remaining “complex and fact driven causes of action,” he said in a decision filed yesterday in Manhattan.

Defending oil speculators from Obama

Defending oil speculators from Obama

The US oil market is now coming under a threat that may be the most egregious form of market manipulation ever. Yet if you think that near record participation in the market by oil speculators are the risk, then think again.

Obama signs JOBS Act, hedge funds set free

Obama signs JOBS Act, hedge funds set free

New York, NY – April 5, 2012 – The Hedge Fund Association, an international organization that represents hedge funds, service providers and investors, today praised President Barack Obama for signing the Jumpstart Our Business Startups (JOBS) Act and provisions in it that will allow hedge funds to advertise responsibly to investors through normal channels.  Emerging manager hedge funds are expected to benefit from the new law, according to the Hedge Fund Association (HFA).

Trading the E-mini S&P with the TFF COT report

Trading the E-mini S&P with the TFF COT report

The June 2012 E-mini S&P 500 opened last week at 1375 and closed the week at 1365. On the daily chart, we see a weak trending market with ADX at 18. MACD is bearish, adding divergence down and just crossing down below the zero line on the histogram. Stochastics seem to be pulling out of oversold territory, but look stuck.

G-20 vows to be ‘vigilant’ on oil prices, take action as needed

G-20 vows to be ‘vigilant’ on oil prices, take action as needed

April 20 (Bloomberg) -- The Group of 20 richest nations, which includes four of the world’s five biggest oil producers, vowed to remain “vigilant” about high crude prices and take action if needed to ease price pressures.

Swissie surges as dollar retreats; yen drifts above key support

Swissie surges as dollar retreats; yen drifts above key support

The Swiss franc is the strongest performer against a weaker greenback with an advance of 0.65% ahead of the European close. Market sentiment is well supported with equities and Treasury yields rallying on stronger than expected German confidence data and ‘robust’ earnings reports from the likes of Microsoft and GE. The dollar is weaker against all its major counterparts save the yen as traders jettisoned the low yielders in favor of risk. The USDCHF is now approaching soft trendline support dating back to October 27th with a break below daily RSI support (on a close basis) risking further losses for the greenback. Such a scenario eyes daily targets lower at trendline support dating back to the February lows and the February low itself at 8930. Key topside resistance stands at the confluence of trendline resistance and the 23.6% Fibonacci extension taken from the October 27th and February 24th troughs at 9175 and the April high at 9250.

After pushing up corn, China rumors boost soybeans

After pushing up corn, China rumors boost soybeans - BusinessWeek

On Friday, China was again the weight that moved the market for U.S. agricultural commodities.
Soybeans rose 28.5 cents, or 2 percent, to $14.495 per bushel. That's up from about $14 at the end of last month. They were pushed higher by a government report that said soybean supply will be lower than expected, and by rumors that China will increase its buying.

Treasury Bonds Recoup Most Losses; 10-Year Yield Stays Below 2%

Treasury Bonds Recoup Most Losses; 10-Year Yield Stays Below 2% - WSJ.com

NEW YORK (Dow Jones)--Treasury bonds slipped Friday for the first time in three sessions but the benchmark 10-year note's yield stayed below 2% on uncertainty about the euro zone's sovereign-debt crisis.  Strong retail sales in the U.K. and business confidence in Germany, coming on the heels of disappointing U.S. labor-market and housing data released Thursday, deflated some anxiety over the global economic outlook. That encouraged investors to rotate out of safe-harbor Treasury bonds and into stocks.Treasurys were also hurt by a pledge from the Group of 20 leading developed and developing   countries to boost by more than $430 billion the International Monetary Fund's war chest. While the move was welcome for the euro zone in its battle against the debt crisis, analysts cautioned that the funding size is far from sufficient should larger economies like those of Spain and Italy need bailouts at the same time.

Latest Carbon Headline News

News - Point Carbon - Providing critical insights into energy and environmental markets

 

Point Carbon's OTC price assessments

		Close	+/-
EUA	Dec 2012	7.46	0.04
sCER	Dec 2012	4.58	0.01

Policy

20 Apr 2012 17:15

ANALYSIS: EC proposal could flip CO2 market into backwardation

Bending the supply curve of EU carbon allowances in Europe’s cap-and-trade scheme could provide shor…

Policy

20 Apr 2012 19:52

Mexican bill pushes country toward low-carbon economy

Mexico’s general law on climate change, approved by its Senate late on Thursday, represents a step f…

Policy

19 Apr 2012 14:36

EC may delay CO2 permit sales to support carbon price

The European Commission said on Thursday it is considering delaying sales of permits in the early ye…

Markets

20 Apr 2012 00:34

California approves CO2 market rules for utilities

California utility regulators on Thursday unanimously approved rules for buying and selling carbon p…

Markets

20 Apr 2012 00:42

CCAs soar 14 pct as new buyer pushes prices

California carbon allowances (CCAs) for delivery in 2013 hit their highest price this year, gaining…

Markets

19 Apr 2012 17:40

UK early CO2 permit auctions to start in November

The UK government will begin selling 2013 EU Allowances and 2012 aviation permits in November, the D…

CDM/JI/AAU

19 Apr 2012 17:25

Ukraine resumes ERU issuances after U.N. ban

Ukraine last month issued 745,000 Kyoto carbon credits to three emission reduction projects, governm…

Latest news

• 20 Apr 12 19:55  Mexican bill pushes country toward low-carbon economy 
• 20 Apr 12 18:16  Weekly CER issuance to rise to 5.9 million next week 
• 20 Apr 12 17:15  EC proposal could flip CO2 market into backwardation 
• 20 Apr 12 11:37  TEP offloads Peru dam project 
• 20 Apr 12 10:31  EUAs close near 7.50 euros, traders reflect on set-aside efforts 
• 20 Apr 12 01:24  Mexican senate clears climate law 
• 20 Apr 12 00:42  CCAs soar 14 pct as new buyer pushes prices 
• 20 Apr 12 00:34  California approves CO2 market rules for utilities 
• 19 Apr 12 19:01  Poland says ETS reform could bankrupt its industry 
• 19 Apr 12 17:40  UK early CO2 permit auctions to start in November 
• 19 Apr 12 17:30  EU carbon gains 1.5 pct on set aside talk 
• 19 Apr 12 17:25  Ukraine resumes ERU issuances after U.N. ban 
• 19 Apr 12 15:14  U.N. launches CDM loan scheme 
• 19 Apr 12 14:36  EC may delay CO2 permit sales to support carbon price 
• 19 Apr 12 13:02  French and African firms launch 45-mln euro CO2 fund 
• 19 Apr 12 12:50  Enel buys U.N. offsets from Haiti cookstove project 
• 19 Apr 12 12:45  Mercuria strikes deal to buy 1.6 mln African CO2 credits 
• 19 Apr 12 11:09  Dutch EUA auction clears at 7.02 euros 
• 19 Apr 12 10:13  NZ carbon rangebound as EU influence weakens 
• 19 Apr 12 09:54  Shanghai bank eyes carbon market 
• 19 Apr 12 09:24  EU climate boss: studying China's airline CO2 plan 
• 18 Apr 12 23:50  California rail project may not be eligible for CO2 cash 
• 18 Apr 12 23:26  US fracking rules let drillers flare till 2015 
• 18 Apr 12 18:51  The year EU economic and CO2 growth decoupled? 
• 18 Apr 12 18:17  Rich-country GHGs rise 3 pct in third Kyoto year 

All news

Euro Extends Weekly Advance as German Confidence Climbs

Euro Extends Weekly Advance as German Confidence Climbs - Bloomberg

The euro extended a weekly advance against the dollar after German business confidence unexpectedly increased to a nine-month high in April.  The shared currency rose for a fourth straight day against the yen amid speculation Group of 20 officials meeting with the International Monetary Fund today will step up efforts to quell Europe’s debt crisis. Japan’s currency was set for a weekly decline against the dollar on bets its central bank will add to monetary easing at its meeting on April 27. IMF Managing Director Christine Lagarde said yesterday she expects more contributions in her campaign for bigger resources.