Technical & Fundamental Oil Reports Specialists

Follow us

PVM Midday Report 20 August 2014

Published Wednesday, August 20th, 2014


  1. BoE policy minutes reveal first split decision on rate hike for more than three years
  2. First oil tanker has begun loading at Libya’s Es Sider port
  3. Survey of UK manufacturing orders rises sharply in August
  4. US mortgage applications index climbs 1.4% in week ended August 15
  5. Greek current account surplus widens by more than 50% y/y in June


Economy: European equities are little changed as investors refrain from making bold bets ahead of the economic conference at Jackson Hole and the release of FOMC minutes – the Eurofirst 300 is easing 0.1%. As focus shifts to cues from central banks, the recent rally in riskier assets is being halted as caution comes to dominate overall sentiment. The tentative mood is failing to support benchmark Bund and Treasury yields which are ticking slightly higher whilst gold remains firmly below $1,300/oz. The fresh bout of market reticence has failed to dampen demand for the US dollar which is adding 0.1% against a basket of major currencies as it reaches its best level in 11 months.

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.