OPEC

Most Everything Shut for Good Friday But One Big Data Report Being Released

April 2, 2021

The list of countries closed today includes Australia, New Zealand, Mexico, Canada, India, Singapore, Norway, Italy, France, Spain, Great Britain, Switzerland, Hong Kong, Singapore, Brazil, South Africa,  and Germany. The United States is essentially shut too, and there will be no equity market trading. But the monthly labor market situation data will be released at […] More

Fed’s Inaction on Rising Long-Term Interest Rates Sends Dollar Higher

March 5, 2021

Investors had been hoping to hear some voiced protest against the steepening U.S. yield curve from Fed Chairman Powell’s speech yesterday, but it wasn’t to be. Powell expressed a lack of worry about the development, while reaffirming that Fed tightening is years away even if U.S. employment and price growth outpaces the path assumed by […] More

OPEC Production Cut Accord Sets Tone for Wednesday’s Financial Markets

November 30, 2016

OPEC oil ministers in Vienna announced a 1.2 million barrel per day production cut to 32.5 mb/d. Saudi Arabia, Iraq and Iran are on board, and there’s reason to believe Russia will take actions to make the agreement work. It’s the first cut since 2008. Brent oil jumped above $50, and West Texas Intermediate crude […] More

Price of Oil Softens Further

October 26, 2016

It appears that Russia will probably not join OPEC’s effort to cut production. In response, West Texas Intermediate crude oil fell another 1.4% to $49.25 per barrel. Stocks in Europe and the Pacific Rim have performed weakly overnight, depressed by a number of weaker-than-expected corporate earnings reports. Equities lost 1.5% in New Zealand and Australia, […] More

Oil Price Rally Continued

October 19, 2016

West Texas Intermediate crude oil, which traded at $43.30 per barrel just a month ago, rose another 1.5% overnight to $51.02 per barrel. Investors are reasonably confident that OPEC will find the discipline with Russia to reach an accord limiting production. Comex gold advanced 0.7% to $1,271.50 per troy ounce, and the dollar is modestly […] More

Winding Down a Rollercoaster of a Week

December 4, 2015

The first week of December already had included weaker-than-expected monetary support from the ECB, weaker U.S. purchasing managers indices, mounting rhetorical evidence that the federal funds rate will be hiked this  month, softer core inflation in the eurozone, public remarks from central bank chiefs in the U.S., Britain, Euroland, Japan, Australia, and Canada, and a […] More

Slow But Constructively Solid Start to Week of Christmas 2014

December 22, 2014

Last week’s post-FOMC rally in share prices remained intact in Asian and European trading.  Stocks rose 1.9% in Australia, 1.3% in Hong Kong, 1.2% in India, 1.6% in Singapore, and 1.1% in Taiwan.  Lesser gains were achieved in South Korea of 0.7%, China of 0.3%, and Japan of 0.1%, but equities in Europe so far […] More

U.S. Heading for Thanksgiving Day Break

November 26, 2014

Before U.S. markets close early today, a load of U.S. data were released including several downside surprises. New jobless insurance claims jumped 21K last week to 313K, and that boosted the 4-week average rise by 6.25K to 294K. The U. Michigan/Reuters gauge of consumer sentiment in November got revised downward to 88.8 from 89.4 reported […] More

European Equities Absorb New Hit

December 14, 2011

Share prices are so far down another 1.5% in France and 0.9% in Great Britain and Germany.  Earlier, stocks fell 1.0% in China, 0.8% in India, 0.7% in Thailand and Sri Lanka, 0.5% in Hong Kong and Singapore, and 0.4% in Japan. The dollar had risen 0.5% against the kiwi, 0.2% versus the yen, loonie, […] More

Risk Aversion Sends Stocks and Commodities Lower and Yen and Dollar Higher

June 8, 2011

Euroland officials still haggling over the composition of a Greek bailout. OPEC ministers meeting in Vienna have range of stands over whether to raise oil production. Moody’s again warns that British AAA sovereign debt rating may get downgraded. Today’s release of the Fed Beige Book of regional trends comes amid mounting concern that U.S. growth […] More

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