FT reports that behind closed doors the Saudi's want oil higher
Saudi officials are said to be wavering on their plan to protect their long term exports ahead of short term gain. The FT note that while they publically state that they are not about to reverse policy, they want the oil market to stabilise in the $60-80 range
Following on from his last post about the our guest economist and respected monetarist John Hearn has this to add on market liquidity
BOE Open Forum
Be sure to follow John on Twitter and check all his blogs .
There's no flies on Goldies when it comes to seeing a pattern. Here they take a long hard look at the weather
"Growth decelerated sharply in Q1 in 2014 and 2015, and we suspect that unusually harsh winter weather contributed. With the winter season now upon us, we revisit old lessons learned and develop new rules of thumb for estimating the economic impact of weather fluctuations"
Kremlin out with a statement
And it's not a reference to Thanksgiving's favourite bird!
- no plans to impose embargo on food imports
- still waiting for realistic response from Turkey on downing of jet
The pound was the darling yesterday but now it's in the bad books
Again we're seeing lighter liquidity in trading today and the quid is on the receiving end. There's a few things in the mix note traders, there's some month end biz being completed, some further position squaring, and chatter of a GBPJPY sell recommendation from Morgan Stanley doing the rounds
Latest money supply data now out
- +4.9% prev
- adjusted household lending growth yy +1.2%
- adjusted non-financial corp lending growth yy +0.6%
- M1 yy +11.8%
M3 Money Supply measures the change in the total quantity of domestic
currency in circulation and deposited in banks. An increasing supply of
money leads to additional spending, which in turn leads to inflation
Glass half full for the UK fin min talking to BBC radio
And in a reference to yesterday's highly publicized spending review he says:
" We don't have to make all the cuts in year one"
I posted the initial highlights with his opening remark of "
Currently 1.5105 having dipped below 1.5100. Still on the back foot but demand between 1.5000-50 notable as I've highlighted a few times recently
Offers: 1.5120-25 1.5135 1.5150-55 1.5170 1.5180-85 1.5200 1.5300