| Today is working up to be anything but the lazy, hazy summer day for trading you might expect. Let’s start with the nation that inspired “Borat.” Kazakhstan’s official currency, the tenge, took a sharp hit after the government moved it into free float. The Asian nation exports oil. Enough said.
And the slick stuff was getting crushed earlier, in the wake of gluttish inventory data. “The bias is lower. The only bulls left are bull ants. They are small,” Richard Hastings, strategist at Global Hunter Securities, said yesterday as oil sank 4%. Brace for a much bigger drop, say some analysts...............................................Full Article: Source
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