A record high hit this morning in China
Remember the days when AUD movement correlated with iron ore?
That’s been broken for some time. Although commodity price strength has been a factor in slowing AUD’s decline.
Archives of “June 12, 2019” day
rssOil: UAE Energy Minister says OPEC close to reaching agreement on extending production cuts
United Arab Emirates Oil Minister Al-Mazroui
- OPEC members close to reaching agreement on extending production cuts
- Says current oil inventories suggest curbs should remain in place
- OPEC’s production deal should remain or be extended ‘at least until the end of the year’
OPEC meeting coming up on June 25 and 26. Some what to expects:
- Goldman Sachs on oil, OPEC, Russia, Saudi. Hard road ahead for extension of output pact
- Russia’s Siluanov: If OPEC+ doesn’t reach an agreement, oil price may fall to $40
PIMCO expecting rate cut forward guidance at next week’s FOMC meeting
PIMCO do not expect a June 2019 rate cut, but do expect to see the FOMC discussing the prospects for a cut in July
Citing:
- if downside risks to economy escalate, 50bp cut in July possible.
via Reuters headlines
This is sad
Call it a tie in the US stock market today
Major indices close within shouting distance of the close from yesterday
Call it a tie betweent the buyers and sellers. That is because the major indices are ending the day within few points of unchanged on the day.
Although unchanged, it was more of a disappontment for the bulls. The Dow was up 185 points at the highs. The Nasdaq was up 86 points. The S&P was up aount 24 points at the highs. So those gains were eroded through the day.
The final numbers are showing:
- S&P fell -1.01 pointsor -0.04% at 2885.72
- Nasdaq fell -0.603 points or -0.01% at 7822.56
- Dow fell -13.70 points or -0.05% at 26048.98
Below are the high/low % changes and the closing %. As you can see, the move above the 0% line was greater. So giving up those gains is a disappointment.
Thought For A Day
