Authored by Nick Cunningham via OilPrice.com,
The skies are clearing over Houston, but the damage from the remaining elements of Hurricane Harvey has spread east to Port Arthur and Lake Charles along the Texas-Louisiana border. That has knocked more refineries offline, including the largest refinery in the United States.
Authored by Drieu Godefridi via The Gatestone Institute,
Just minutes after Russia was given 2 days to implement today's decision by the State Department, shuttering Russia’s consulate in San Francisco, California and two diplomatic annexes in Washington, DC and New York City, in "the spirit of parity invoked by the Russians", the Russian responses started coming in, and they were not happy.
Russia's foreign minister Sergey Lavrov was first on the tape, saying he “expressed regret about the escalation of tensions in bilateral ties”, noting "it wasn’t Russia that started the escalation."
If there is one common theme across sellside previews of tomorrow's nonfarm payrolls number, expected at 180K after a surprising jump to 209K in July, it is to brace for disappointment, or in Wall Street parlance, "downside risks." And it's not because of Harvey which hit the US far too late in the month to be reflected in the monthly payrolls.
In a new report that may come as music to the ears of Mario Draghi, who has been valiantly hoping to show the European economy recovering while keeping the EURUSD below the "red line" of 1.20, BofA FX strategist Athanasios Vamvakidis is out with a new note today urging currency traders to "stop fighting the central banks", in other words stop selling the USD and buying the EUR, and recommends shorting the EURUSD to 1.15 with a 1.21 stop loss.