Technical & Fundamental Oil Reports Specialists

Follow us

PVM Midday Report 14 August 2014

Published Thursday, August 14th, 2014

Headlines

  1. Eurozone GDP growth stagnates in 2Q; Germany in surprise 0.2% slump
  2. Libya’s Es Sider port to restart oil exports in “a few days”
  3. Euro-area prices decline 0.7% in July from the previous month
  4. Heavy shelling hits centre of separatist-held city Donetsk
  5. ISIS fighters gather near Iraqi town of Qara Tappa to broaden front against Kurds

Fundamentals

Economy: European equities are advancing whilst Eurozone growth forecasts are being binned after weak 2Q GDP growth data for the currency-bloc reinforces hopes of continuing central bank largesse – the Eurofirst 300 is adding 0.4%. The disappointing GDP figures revealed that growth across the euro-area stagnated in 2Q as the region’s economic powerhouse recorded a surprising contraction of 0.2%. Moreover, concerns over the threat of deflation within the Eurozone are persisting after it was confirmed that month-on-month prices fell by a more-than-expected 0.7% in July. Although the prevailing expectations of ongoing accommodative monetary policy is lending support to risky assets, the bearish data has bolstered a number of haven assets. This can be seen with benchmark German Bund yields which briefly fell to a fresh record below 1% as the poor GDP figures raises fears over a potential period of extended stagnation.

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.