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Market Briefing
Michael Poulsen, A/S Global Risk Management Ltd.
21 Jan 2015 09:44 GMT





A/S Global Risk Management logo. Oil prices continue the intra-day volatility (Brent: $48.5)

Some shale oil investors have announced cuts in the number of active drill rigs due to the current oil price level, which makes it hard to extract shale oil with a profit. Tonight, the American Petroleum Institute will publish the weekly oil inventory data ahead of tomorrow's official EIA report; expectations are increases in all inventory stocks. Last week's report showed that supplies were around 9% above 5-year average for the time of year.

In Ukraine, tensions continue in the eastern part between government forces and pro-Russian separatists; Ukraine accusing Russia of contributing with military forces; ahead of a summit between Russian, Ukrainian, German and French foreign ministers in an attempt to end the conflict.

On the economic data front, the UK will publish a row of data this morning, among others the Bank of England Meeting Minutes and employment data. From the U.S., housing data will be published this afternoon; expect some volatility around these numbers. Yesterday's German and EU ZEWs surprised to the upside ahead of tomorrow's European Central Bank publishing its interest rate decision followed by press conference; all eyes will be on the comments and the size of the quantitative easing measures the bank is expected to initiate.


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Company: A/S Global Risk Management Ltd.

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