US Q3 GDP tracking 1.0% after September durable goods orders
Oct 27, 2015 13:44 pm UTC| Commentary
Durable goods orders fell 1.2% m/m in September, broadly in line with consensus expectations of a 1.5% decline. A sharp 35.7% m/m drop in nondefense aircraft orders subtracted 2.2pp from the headline reading. Excluding...
Bank of Russia may keep key rate on hold at next week’s MPC meeting
Oct 27, 2015 12:26 pm UTC| Commentary Central Banks
Inflation indicators have been relatively positive since the last meeting in mid-September, when the CBR held its key rate unchanged after five consecutive cuts since January 2015. Therefore, the Bank of Russia (CBR) is...
U.K economy likely to grow at 2.2% in 2016
Oct 27, 2015 12:13 pm UTC| Commentary
The ONS preliminary estimate of Q3 GDP came in at 0.5% q/q (2.3% y/y), in line with BoE expectations. The output breakdown shows value added grew by 0.49%, driven by services, while industrial was broadly muted (+0.04pp...
Dryness in U.S. and Eastern Europe hurts winter wheat plants
Oct 27, 2015 11:16 am UTC| Commentary
The wheat price on the CBOT gained by nearly 4% yesterday and thus achieved the highest daily gain of all exchange-traded commodities. US wheat now costs more than $5 per bushel again for the first time since mid-October....
Oversupply of diesel puts pressure on oil prices
Oct 27, 2015 11:13 am UTC| Commentary
Oil prices find themselves under renewed pressure after having enjoyed a short breather. Brent has fallen to $47 per barrel this morning, its lowest level since early October. At a good $43 per barrel, WTI is at its lowest...
Fed's signals on rate hike likely to weigh on gold
Oct 27, 2015 10:14 am UTC| Commentary Central Banks
Gold is trading largely unchanged at around $1,165 per troy ounce in the run-up to tomorrows meeting of the US Federal Reserve. According to figures from the International Monetary Fund, not only China and Russia (see...
Continued ETF outflows preclude any lasting increase in platinum and palladium prices
Oct 27, 2015 10:09 am UTC| Commentary
Palladium is trading slightly down at around $680 per troy ounce this morning after already falling in recent days. One factor weighing on this precious metal which is used primarily in the automotive industry are the...
South Africa’s plan to move away from coal: 8 steps to make it succeed
Germany lowers voting age to 16 for the European elections
IceCube researchers detect a rare type of energetic neutrino sent from powerful astronomical objects