Technical & Fundamental Oil Reports Specialists

Follow us

PVM Midday Report 22 January 2015

Published Thursday, January 22nd, 2015


  1. ECB keep interest rates on hold
  2. Italian factory orders fall 4.1% y/y and 1.1% m/m in November
  3. Indian refiners set to halt Iranian crude imports over February-March
  4. Spanish jobless rate inches up to 23.7% in 4Q 2014
  5. Finnish PM open to renegotiation of Greek bail-out terms


Economy: European bourses are holding recent highs but are mostly unchanged ahead of the ECB policy meeting where it is all but guaranteed to announce a QE package worth anything up to €1 trillion. The guardians of eurozone monetary policy left historically low interest rates on hold as expected but investors’ attention will remain firmly fixed on the upcoming press conference where Mario Draghi will unveil details of its latest stimulus measures. The prospect of ECB bond buying is contributing to the largely upbeat mood and comes at the expense of havens such as benchmark Bunds prices and gold which are softer. However, the euro is displaying increasing resilience, adding 0.2% against the dollar, on mounting concerns that looming ECB action will fall short of expectations.

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.