Technical & Fundamental Oil Reports Specialists

Follow us

PVM Midday Report 28 May 2014

Published Wednesday, May 28th, 2014


  1. Eurozone economic sentiment and inflation expectations rise in May
  2. US mortgage applications index slips 1.2% in week ended May 23
  3. German unemployment increases by 24,000 in May – rate remains 6.7%
  4. Pace of UK retail sales growth slows during May


Economy: European equities are gently easing from more than a six-year high as investors await further catalysts to extend the recent rally – the Eurofirst 300 is shedding 0.1%. The mood remains generally positive with sentiment underpinned by an improving US economic environment and expectations of ECB largesse. This in turn is sending the dollar index 0.1% higher with the euro remaining on the defensive at close to a three-month low. Pockets of caution do however remain after Ukraine’s government said it will press on with military operations against pro-Moscow separatists in Donetsk. This is helping benchmark Treasury and Bund yields fall two basis points apiece whilst gold is steady after having slipped by more than 2% to a three-month low in the previous session.

to read the rest of the report, please click here 

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.