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...
Prospect for mild temperatures in the US leads to plunging US natural gas price
Oct 27, 2015 10:08 am UTC| Commentary
The prospect of a mild start to the winter coupled with plentiful stocks is putting further pressure on the US gas price, the front-month contract for US natural gas (Henry Hub) fell by an additional 10% yesterday to hit a...
PBoC's supplementary tools for longer-end
Oct 27, 2015 08:59 am UTC| Commentary
The PBoC also has a few instruments to guide longer-dated rates: the medium-term lending facility (MLF), pledged supplementary lending (PSL) and other relending programmes with various collateral requirements.The MLF and...