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PVM Midday Report 14 October 2014

Published Tuesday, October 14th, 2014

 

  1. IEA amends global oil demand growth to distinctly lower level
  2. Industrial output in Eurozone drops more than estimated in August
  3. Kurds in Kobani aided by military intervention from Iraq’s Kurdish region
  4. Investor morale in Germany plummets to lowest level in almost 2 years

 

Economy

After the late sell-off in the US stock market yesterday emerging market stocks are following suit. MSCI’s emerging equity index fell 0.2% with European stock down as much as 1%. The gloom is aided by a bigger-than-expected fall in the Eurozone. August’s industrial output and German investor morale is almost hitting its lowest level for two years. As a result the euro is weakening against the dollar whilst gold is also down on the day after yesterday’s impressive rally.

to read the rest of the report, please click here 

Posted by Tamas Varga

Tamas Varga has been in the oil industry since 1992 and with PVM for 18 years. During his time in the industry he has gathered a range of experience in the oil markets. At PVM Tamas is in charge of data collection and analysis.