ECB and BOE Interest Rates and Commodity Market Tips -1-

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Information about ECB and BOE Interest Rates and Commodity Market Tips -1-
Business-Finance

Published on March 6, 2014

Author: Sreelu42

Source: authorstream.com

PowerPoint Presentation: ECB a n d B OE I n ter e st R a te s and C o m mo d ity Mar k et T ips Cr u d e Oil in major upd at e s for the c o m m o d i ty, the US D o E said that cr ud e s t o cks r o se b y 1 . 4 mi l l i o n b ar r els with the t o tal st o c kp i les m o vi n g h i gh er t o 36 3.8 mi l l i o n b ar r els. O veral l , US cr ud e s t o c ks stand n early 3 % a b o ve the l a st f i ve y ear a v era g e du ri n g th i s ti m e o f the year. Se p ara t e ly, d istil l ate s t o cks al s o fa i led to p r o vi d e a n y b o o st to the mar k ets as they r o s e 1. 4 1 mi l l i o n b ar r els. On t h e o ther h a nd , g a s o l i n e i n ven t o ries d r o pp ed b y 1 . 6 mi l l i o n b ar r els. D e ma n d f o r b o th ty p es o f cr ud e p r o d u cts fell du ri n g t h e p ast fo u r w e eks o n a Y / Y b asi s , su g g esti n g that the o v e r all c o n sum p ti o n p at t ern in the c o un t r y h as b een p ret t y l o w la t ely. If we lo o k i nt o the o ther reg i o n al i n vent o r i es, s t o c ks at C u sh i n g , the d elivery p o i n t for WTI cr u d e c o n ti nu ed to d r o p and st o o d at 3 2 m i l l i o n bar r els f o r t h e last we e k. St o c k s di p p ed 2.7 mi l l i o n bar r els and fa l l in g for the fi f th w eek in a r o w. N e verthe l ess, as s t o cks fell in o n e r e g io n , th e y h a v e b e en accum u lati n g a t the gu lf c o ast. I n ven t o ri e s at the US G u lf Co a st o r t h e P A D D 3 j u m p ed u p for the se v enth strai gh t w eek a s fresh o il c o n ti nu es t o g e t d elive r ed fr o m C u sh i ng , after the s tart o f the s o u thern p a r t o f t h e XL p i p eli n e wh e reas the refi n e r y u til iz at i o n r e mai n s l o w e r du ri n g th i s t i me o f t h e year. Wh i le we a g ree th a t wint e r is o n ce a g ain m o vi n g i n to the n o rt h - e ast a n d cent r al p arts o f the US in the short - t er m , as upd ates fr o m US CPC sh o w, iss u es wi t h reg a rd to winter h ave b e en si d eli n ed lately as t h e mar k ets f o cus o n the eas i n g o f su p p ly w o rr i e s f r o m the Eu r o p ean reg i o n as w ell as the d isa p p o i n ti n g i n ven t o ry d a ta f r o m the U S. We r eco m mend s ell in g the c o mm o d ity t o d ay, si n c e w e f e el w e mi gh t g e t exte nd ed su p p o rt f r o m the m o d era t e a pp reci a ti o n in t h e r up ee. Glo b al mark e t a n al y sis: I n d ia’s cu r rent a c c o un t d eficit for Q 3 r e cu p erated to $ 4. 2 0 bi l l i o n whi l e the s a me d ata in the last y ear w a s at $ 3 1.90 b i l l i o n . We b el i e v e that the r up ee h ad al r eady shown a g o o d a m o un t o f a pp reciat i o n a n d s o m e m o r e c o u ld b e seen t o d ay. We a r e g o i n g to s ee its im p a c t o n I n d ian c o m m o d i t y mark e ts. C o m i n g to the ma r ke t , As i an e q u ities are tra d i n g m o st l y mixed whi l e t h e C h i n e s e mar k ets h a ve ex t en d ed t h eir los s es b y o ver 1 %. We a re g o i n g t o wit n ess an i n c r ed ib le d ay a h e ad o f a l o t o f k e y e ven t s. The G e r man fact o r y o r d ers d ata f o l l o w ed b y BOE b a n k rate a n d E CB’s d epos i t faci l i t y r a t e are e xpec t ed. F u rthe r m o r e , fr o m the U S , w e h a ve the jo b le s s nu m b ers a n d the f act o r y o r d ers d ata. W e b elie v e that the E C B a n d BOE m a y k e ep the ra t es un ch ang ed. N o n et h ele s s, t h ere should b e a g o o d a m o un t o f p rice act i o n in the eu r o w i th its c o un t er p arts. As s t ate d , jo b l e ss n u m b ers f r o m t h e US m a y n o t b e so l u crat i ve, e spec i al l y when the win t er mi g h t h ave red u ced the j o b p o te n tial in the ec o n o my. F r o m the e n ergy f r o n t, WT I o il p rices f ell b y o v er 1 . 8 0 % a n d we r e s e en tra d i n g at $ 1 01 . 10 th i s m o r n i n g . We b el i e v e that the we a k n ess may n o w m o un t o n the c o mm o d ity p o s t the d isa p p o i n ti n g i n ven t o ry nu m b ers, especial l y f o r d i still a tes s t o cks, which r o s e for the se c o n d c o n sec u t ive w e ek. W e e v i d ent l y h o ld a b earish vi e w o n t h e c o m m o d i t y . C o mm od i t y M a rk e t T i p s SELL C RU D E O I L MCX MAR N EAR 6 2 6 5 - 6 2 7 5 SL 6 3 3 0 T GT 6 2 0 0 SELL C O P PER M C X A PR B E L OW 4 3 6. 8 0 SL 4 40 TGT 4 34 .20 T od a y E c ono m i c D a ta I n d i c a t o r s : DA T E TIME Region Indic a t or Pe r i o d Su r vey Pr i o r 06. 0 3. 1 4 1 6 : 3 0 GE F a ct o r y Or d er Mo M J an 1.0 0 % - 0.5 0 % 06. 0 3. 1 4 1 6 : 3 0 GE F a ct o r y Or d ers W DA Y o Y J an 7.5 0 % 6.0 0 % 06. 0 3. 1 4 1 7 : 3 0 UK Ba n k o f E ng la n d Bank R ate Ma r- 06 0.5 0 % 0.5 0 % 06. 0 3. 1 4 1 7 : 3 0 UK BOE As s et P u rc h ase Tar ge t Mar 3 7 5B 3 7 5B 06. 0 3. 1 4 1 8 : 15 EC ECB A nn o un ces I n te r est R a tes Ma r- 06 0.2 5 % 0.2 5 % 06. 0 3. 1 4 1 9 : 0 0 US I n itial Jo b less Cla i ms Ma r- 01 3 3 5K 3 4 8K 06. 0 3. 1 4 1 9 : 0 0 US Co n ti nu i n g Clai m s Fe b- 21 --- 2 9 4 6 K 06. 0 3. 1 4 2 0 : 3 0 US F a ct o r y Or d ers J an - 0.5 0 % - 1.5 0 %

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