News Oil 

Oil traders ready for musical chairs as China tariffs loom

“Overall, however, traders do not expect serious supply shortfalls to result from Chinese crude tariffs against the United States” reports businessinsider.com. For China, the world’s biggest importer of crude oil, relatively higher Brent prices means oil would become more expensive.Russia’s flagship Urals crude oil is one of the grades preferred by China’s independent refiners, known as teapots.China, in turn, is likely to replace the U.S. oil with increased purchases from top suppliers Russia and Saudi Arabia.For graphic on U.S. vs international oil prices click https://reut.rs/2M7us7P Outside China, however, WTI remains…

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News Stocks 

Credit Suisse is hiring old school traders in a surprise move as rest of Wall Street bets on robots

“It’s not that Credit Suisse isn’t making similar investments in electronic trading” writes Dakin Campbell for businessinsider.com. But under Stewart it’s betting that as active managers look to beat benchmarks and volatility picks up, clients will want to take large, concentrated positions in stock markets.”When you go back 20-30 years we would, at Goldman Sachs, have 500 people making markets in stocks, and prices in stocks, every single day,” Solomon said, according to Reuters.Tidjane Thiam, Chief Executive Officer of Credit Suisse, attends the World Economic Forum (WEF) annual meeting in…

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News 

End of the great card payment rip-off? No, it’s just a new one

“Earlier this month the government finished a consultation on the future of digital payments including the cost of card payments” writes Anna Tims for theguardian.com. UK traders have to pay £1bn extra a year to Visa alone, after the US-owned giant doubled its fees for every card payment.And whereas interchange fees are publicly documented, neither company will disclose its card scheme fees, making it impossible for traders to calculate how much each transaction will cost. Source: theguardian.com Share This:

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News Stocks 

Trading in Snap is quietly undergoing a major shift that could send the stock soaring

“At the root of the shift was a flood of recalls from beneficial owners of Snap stock” writes Joe Ciolli for businessinsider.com. S3 predicts a Snap stock spike if they’re able to keep doing so.At the moment, the prime brokers who work on behalf of short sellers are borrowing stock from lenders who aren’t recalling shares. Source: businessinsider.com Share This:

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News Oil 

U.S. oil prices mark highest finish in two weeks

“U.S. benchmark oil futures marked their highest settlement in two weeks on Thursday, buoyed by a hefty weekly U.S. decline in crude supplies” writes Markets Commodities Reporter for marketwatch.com. Prices finished off the session’s best levels, however, weighed down by record domestic crude output.July West Texas Intermediate crude CLN8, +0.57% added 25 cents, or 0.4%, to settle at $66.89 a barrel on the New York Mercantile Exchange. Source: marketwatch.com Share This:

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Futures News Oil 

Oil prices sink as traders fret over U.S. output growth

“The global crude benchmark, meanwhile, relinquished some of the gains notched in the previous session as traders weighed prospects for a decision next week related to the output-cut agreement by major oil producers” writes Christopher Alessi for marketwatch.com. July West Texas Intermediate crude CLN8, -0.24% fell by 27 cents, or 0.4%, to $66.37 a barrel on the New York Mercantile Exchange. Source: marketwatch.com Share This:

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News 

Wall Street wants more female traders, but old perceptions die hard

“Headhunters say, however, it will take time before effects of such efforts show up in banks’ gender ratios” reports businessinsider.com. Banks are so keen to improve their diversity ratios that one declined to make young female traders available for interviews out of fear they might get poached by competitors.”Firms would like to have more women in trading and other areas, but there aren’t that many women in the pipeline.”.  Source: businessinsider.com Share This:

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News Regulators 

Fed-driven dollar rally fades, focus shifts to ECB meeting

“The greenback’s bounce faded as traders booked profits before the European Central Bank’s meeting later Thursday, where policy makers are seen discussing the timing of winding down the ECB’s 2.55-trillion-euro bond-purchase program” writes Midwest Communications Inc for 95kqds.com. The initial market reaction to the slightly more hawkish Fed tone quickly faded off, with the focus shifting to the ECB’s policy review later in the global day. The South African rand , hit lately by weak economic data, slipped to a six-month low of 13.44 per dollar on Wednesday and last…

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News 

Droves of Wall Streeters abandon their work during big World Cup games — and 2 teams are far more distracting than the others

“In the charts below, the deep-blue bars represent trading volumes during a big 2014 World Cup game” writes Akin Oyedele for businessinsider.com. During big games in the 2014 World Cup, trading volumes on major international stock-market exchanges plummeted by more than comparable periods in the prior years, according to data provided by Thomson Reuters.Brendan McDermid/Reuters Don’t be shy about switching one of the financial-TV screens to a sports channel during the World Cup — chances are that trader colleagues around the world are doing the same. Source: businessinsider.com Share This:

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News Oil 

Oil struggle for direction as traders digest report of rising Saudi output

“Oil prices struggled for direction Monday, as a report of rising oil production from Saudi Arabia helped offset concerns about expected supply disruptions in Iran and Venezuela” writes Christopher Alessi for marketwatch.com. The total active U.S. rig count, which includes oil and natural-gas rigs, added 2 to 1,062. Source: marketwatch.com Share This:

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