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Showing posts from June, 2019

Euro Area Forecast & Analysis, June 2019

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Summer is in full swing and so is the geopolitical storm - Chad


Euro Area: ECB pushes back possible rate hike at June meeting The European Central Bank (ECB) turned more dovish at its June monetary policy, responding to the bloc’s softer growth momentum. The ECB pushed back the timing of a rate hike and left interest rates at record-low levels.


Germany: Industrial sector not out of the woods yet Industrial production fell 1.9% month-in-month in April in seasonally- and calendar-adjusted terms, swinging from March’s 0.5% increase. Production in the energy sector was down noticeably; the construction sector, however, provided a small silver lining as production increased marginally.


Greece: New Democracy expected to win general election but slow economic recovery set to continue Polls show that conservative opposition New Democracy (ND), led by Kyriakos Mitsotakis, maintains a sizeable lead over Syriza, signaling that not only will it win the national vote on 7 July but could even se…

Price Outlook For Brent + WTI Oil

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A sharp drop in oil prices and its derivatives, especially WTI and gasoline, led the overall decline in energy prices. The drop reflected escalating trade tensions globally, which could exert additional downward pressure on an already weakening global economy. Moreover, natural gas prices hit a nearly three -year low on high inventories and strong production. Although thermal coal prices posted the first monthly gain in 10 months in May, prices plummeted in the first days of June, suggesting that downward pressures on thermal coal prices are far from over.
Brent crude oil prices tumbled in recent weeks following the rally observed since the start of the year. On 5 June, oil prices hit a nearly four-month low and fluctuated at similar levels in the following days. On 7 June, oil prices traded at USD 64.1 per barrel, which was 9.7% lower than on the same day last month. Moreover, the benchmark price for global crude oil was 14.8% lower than on the same day last year, although it was up …