Oil on edge [Video]
|China said there will be a significant bond issuance to help reverse the deepening property crisis and local governments, but didn’t put numbers on their plans. Israel didn’t attack Iran but some reports hinted that the Israeli army could be narrowing their targets on military and energy infrastructure. As such, crude oil kicked off the week downbeat. The barrel of US crude is trading below the $75pb mark in the early ours of Monday trading, Chinese stocks are mixed, the Aussie is under pressure.
In the US, Friday’s US producer price data was mixed, and the bank earnings were better-than-expected. The US dollar extended gains, and the S&P500 hit a fresh record.
More earnings from big banks and Big Tech are due this week, along with a 25bp cut from the European Central Bank (ECB) that will accompany the latest Eurozone and UK CPI figures.
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