US Crude Oil Inventories fall 9.6M bpd v an expected build of 602.4K

U.S. crude oil refinery inputs averaged 16.2 million barrels per day during the week ending March 15, 2019, which was 178,000 barrels per day more than the previous week’s average. Refineries operated at 88.9% of their operable capacity last week. Gasoline production increased last week, averaging 9.9 million barrels per day. Distillate fuel production increased […]

Dollar mixed ahead of Fed

USD – Fed to detail end of QE and possibly inflation targeting Trade War – Deal could occur over next two months Brexit – May wants short delay Oil  – Softer on China concerns Gold  – Rising on tame inflation and trade deal uncertainty The conclusion of the two-day Fed meeting is expected to see […]

BOJ expected to become more dovish

Tonight’s Bank of Japan (BOJ) rate decision is expected see no policy changes and a downgrade of their assessment of the economy.  The Japanese yen has declined on growing expectations that the Bank will become more dovish; current expectations for tonight’s decision is a 44.4% that the BOJ will cut rates by 10 basis points. […]

Stocks little changed after weak housing data, Facebook shares dip

Stocks were little changed on Thursday following weaker-than-expected housing data, as major indexes recovered from small losses earlier in the day. The Dow Jones Industrial Average just 10 points higher, while the S&P 500 and Nasdaq Composite were each relativity flat. Facebook shares were among the big decliners, sliding 2 percent after a worldwide outage […]

US New Home Sales declined to 607K v 622K eyed

New Home Sales Sales of new single‐family houses in January 2019 were at a seasonally adjusted annual rate of 607,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 6.9 percent (±16.3 percent)* below the revised December rate of 652,000 and is 4.1 […]

Trade Deal Delay

Presidents Trump and Xi have decided to move back a potential summit to finalize a trade agreement to April, signaling both sides still can’t reach an agreement as major issues still can’t be resolved.  At the beginning of the month, expectations were for both leaders to meet by mid-March and now the certainty of a […]

Brexit and Trade Continue to Weigh on Growth Concerns

Brexit – All scenarios remain on the table Riksbank – Bye Bye Hikes Stocks – Mixed as markets await Trade and Brexit clarity Oil  – US trims crude output forecast for first time in 6 months Gold  – Rising on tame inflation and trade deal uncertainty Brexit Following yesterday’s crushing rejection of Prime Minister May’s divorce deal, […]

May’s Brexit Vote defeated by 149 votes

Asian equities are poised to open higher as technology stocks led the way higher in North America.  Key data in Asia will see many investors focusing on both Japanese producer prices which are expected to rebound and core machine orders which are expected to fall sharply. Brexit – May loses Brexit vote by a substantial […]