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PVM Midday Report 17 April 2014

Published Thursday, April 17th, 2014

  1. Iranian oil exports fall in March for the first time in five months
  2. Putin in first-time admission that Russian forces were deployed in Crimea
  3. Greek current count deficit widens slightly in February from same period last year
  4. IAEA confirms that Iran is complying with the terms of last year’s nuclear agreement

Fundamentals

Economy: A cautionary tone has returned to European stock indices ahead of the Easter break as traders digest yesterday’s disappointing results on Wall St and the latest comments from Janet Yellen – the Eurofirst 300 is slipping 0.2%. Indications that US interest rates will be held longer than the market previously thought is supporting short-term US notes whilst gold is steady at $1,302. Furthermore, this view is hitting the dollar as the yen, euro and pound all make headway with the latter hitting a four-and-a-half year high as recent good UK economic data raises the prospect of a rate hike by the Bank of England.

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Posted by Stephen Brennock

Stephen Brennock joined PVM in 2013 after having worked as a project manager for a business development firm. He graduated with a degree in Business Management in 2007.