Technical & Fundamental Oil Reports Specialists

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The door is open – will anyone from non-OPEC walk through it?

Published Wednesday, March 25th, 2015

If James Bullard was in charge of the Federal Reserve he would be increasing US interest rates now because zero interest rates feed asset bubbles which once they start “keep going until they blow up out of control with devastating consequences”. The Federal Reserve he says must get on with the process of normalisation or it will have to raise interest rates more aggressively later creating alarming market volatility.

Luckily for the market he is only the President of the St Louis Federal Reserve and he does not currently have a vote on the Fed interest rate setting committee. The data that came out yesterday will have reinforced his view with US year-on-year core inflation coming out at 1.7% for February and the Markit US flash PMI registering 55.3 for March.

The eurozone turned in a good performance as well with a flash composite PMI of 54.1, a near four-year high and well ahead of expectations and February’s 53.1. Sadly the data from both China and Japan was disappointing so we have one engine running, one possibly in the process of starting and the third stalling.

to read the rest of the report, please click here

Posted by David Hufton