Business

Amid hope for reinvigorated auto production (after Hurricane Harvey's destruction) and yesterday's escalation in US-Russia tensions (Russia being the world's largest producer), spot Palladium is spiking today, hitting its highest since record highs in January 2001.

While the entire gamut of industrial and precious metals have been rising recently (the latter on the back of Chinese demand hype), Palladium prices exploded today out of nowhere (biggest jump in 7 months).

Pushing the precious metal to its highest in 16 years...

Authored by Lance Roberts via RealInvestmentAdvice.com,

Earlier this week when we noted that Hurricane Harvey was likely to have destroyed more cars than Katrina (see post here), we concluded by predicting that auto OEMs would spin the utter devastation in Houston as a 'positive' for their inventory crisis.  Here's what we said:

"Of course, when the auto OEMs report abysmal sales this Friday they will undoubtedly also tell you how Hurricane Harvey is great for long-term sales because of all the salvaged cars that have to be replaced."

The unprecedented destruction wrought by Hurricane Harvey will impact the US economy in ways may not be immediately apparent. Until recently, coverage of the storm's impact has focused on property damage and the impact on the energy industry. But in a story published Friday, Bloomberg explains the devastating impact the storm has had on Texas’s chemicals industry, which is already causing supply-chain headaches for American manufacturers who're struggling to source the chemicals required to produce plastics and other components used in everything from milk jugs to car parts.

(Elite E Services) — 9/1/2017 — As we have explained in our book  Splitting Pennies – trading FX is nearly impossible; or at least, it may be possible for some time, but in the long run, it’s a near certainty that without the use of professional algorithmic trading systems you will blow up your account.  That’s because of the dynamics of how FX works vs. other markets.  In traditional markets, there is a bias towards positive movement; all CEOs of public companies want their stock to go higher.