Energy Markets: Speculative net long positions in NYMEX crude oil hit another record. This is going to be an epic unwind when it happens.
United States: US homebuilders are struggling to find skilled workers, which is delaying numerous projects. Since the housing crisis (that started in 2006) younger workers have been discouraged from entering the field (and getting the appropriate training). Now the industry faces labor shortages.
Emerging Markets: Speculative accounts continue to reload their net long Russian ruble positions – in part reflecting the bullish view on oil.
The Eurozone: The Eurozone current account surplus hit a record high, which could create further tensions with the Trump administration on trade.
Food for Thought™: What do Americans view as the most important policy goals for immigration? Once again, the issues around illegal immigration are clouding the need for legal immigration reform.
Disclosure: Originally published at Saxo Bank TradingFloor.com