Wall Street started the week with another round of selling, placing the market squarely in “correction” mode. This is just the latest data point out of the world’s second- biggest economy that suggests economic softening.
“$1.5-trillion of uncommitted spend on new conventional projects and North American unconventional oil is uneconomic at $50 a barrel“, Woodmac added. In July, however, Federal Reserve Chair Janet Yellen said the Fed would raise rates this year if economic conditions...
Oil traded steady to higher on Tuesday, buoyed by gains on Wall Street that helped prices rebound after a tumble in the previous session, ahead of an industry report that’s expected to show if US crude stockpiles have fallen after weeks of gains.
The use of position limits may be expanded to other contracts if upcoming legislation requires them, the exchange added in a statement. So the Fed needs other tools to influence rates. Markets are also split on what a rate move might mean for markets. He says that the outlook for...
In Britain, while this year’s moves in oil returned headline inflation to zero, there was nothing in those numbers to further undermine expectations that the Bank of England will follow the Federal Reserve in raising interest rates next year.
The U.S. Federal Reserve will not raise interest rates this week, Turkey’s Economy Minister Nihat Zeybekci predicted Monday. That announcement could feature the first interest rate hike since 2006 and put an end to almost seven years of near-zero percent interest rates.
Jonathan Loynes, Chief European Economist at Capital Economics, said, “It is still just about possible to imagine some sort of agreement coming together which would keep Greece inside the currency union, in the short term at least”.