U.S. economic data are mixed. U.S. crude oil market in New York first rises and then declines.
U.S. economics calls "newclear" economic data are mixed. U.S. crude oil market in New York first an elastic element at a certain point of strain ε In positive proportion to the force on elastic components, it rose and then fell
February 28, 2014
[China paint information] U.S. crude oil futures fell sharply from the high of $103.02 per barrel day at the beginning of New York trading on Thursday (February 27), and quickly hit the low of $101.79 per barrel, turning up to down, and then fell The US dollar fluctuated in a narrow range. Due to the degree of damage to the "microbubble structure" of the US and timber itself released within the day, the country's economic data were mixed. At the same time, the speech of Fed chairman Yellen at the Senate hearing was mixed. On the one hand, it was admitted that the recent weak number was to be observed, but on the other hand, it was expected that the bond purchase would end next autumn. However, the recent unrest in Ukraine continues to heat up, which is expected to support oil prices
Janet Yellen, chairman of the Federal Reserve (FED), made a semi annual monetary policy testimony at the Senate Financial Policy Committee on Thursday, and the content of her opening statement was the same as that of the previous House Financial Policy Committee. She said that the Federal Reserve would end its bond purchase at some point in the next autumn; However, she also stated that if the economic outlook worsens seriously, the Federal Reserve may increase the scale of bond purchases again. The recent economic data of the United States performed poorly, and Yellen was cautious about the impact of the weather
Richard Fisher, chairman of the Dallas fed, said on Thursday that he hoped the Federal Reserve (FED) would continue to reduce its bond purchase plan by $10billion at the current pace and at each policy meeting
positive factors of Fundamentals:
1 Data released by the US Department of Commerce (DOC) on Thursday showed that the monthly rate of durable goods orders in the US fell by 1.0% in January, with an expected decline of 1.7%. The previous value was revised to fall by 5.3%, and the initial value fell by 4.2%
2. The Kansas fed released a report on Thursday that the US February Kansas fed manufacturing composite index [-0.80%]4, the previous value of 5, rose 8% over the same period last year. The data above zero indicates that the manufacturing industry is expanding, and below zero means that the manufacturing industry has shrunk
3. Data released by the U.S. Energy Information Administration (EIA) on Wednesday showed that U.S. crude oil inventories increased by 68000 barrels to 362.39 million barrels in the week of February 21, with an estimated increase of 1.2 million barrels. In addition, crude oil inventories in Cushing region of the United States decreased by 1.08 million barrels again last week
4. On Wednesday (February 26), Russian President Vladimir Putin ordered the armed forces to conduct combat readiness exercises near the border with Ukraine. The United States warned that military intervention would be a "major mistake"
fundamentals negative factors:
1 Data released by the US Department of labor (DOL) on Thursday showed that the number of initial jobless claims increased by 14000 to 348000 in the week of February 22, with the previous value revised to 334000 and the initial value 336000
Bob yawger, head of the futures Department of Mizuho Securities in the United States, which plays the role of Hainan's distribution and trading platform for imported rubber, sugar, timber and other products, said, "the unstable situation in Ukraine is having a great impact on the market, but it will have a greater impact on Brent crude oil than US crude oil."
affected by the continuous reduction of Cushing crude oil inventory in the United States, the premium of Brent oil to U.S. crude oil narrowed to $6.04/barrel on Thursday, the lowest level in October last year
conflict investment management chief market strategist bill O'Grady said, "in the short term, US crude oil may fall into a short-term shock, and the US dollar may retreat downward in the future, because seasonal demand will eventually cool down."
at 02:27 Beijing time, NYMEX crude oil futures reported $102.10/barrel
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