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2022-08-06
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(NYMEX crude oil closing) poor performance of China's economic data US crude oil fell by more than 1% to a one week low

(NYMEX crude oil closing) poor performance of China's economic data US crude oil fell by more than 1% to a one week low

September 23, 2014

[China paint information]

(NYMEX crude oil closing) poor performance of China's economic data US crude oil fell by more than 1% to a one week low

US crude oil futures Monday (September 22) Since the supply chain took office in January, it proposed national rejuvenation and prosperity and the slowdown of economic growth in Europe and China, which overshadowed the expectation of OPEC production reduction. Nyme △ vs=vsr_ VST (4) x crude oil closed at US $91.52/barrel on Monday, down US $0.89, or 0.96%

after the meeting in Cairns, Australia, the finance ministers and central bank heads of the group of 20 (G20) said that they are very hopeful to increase the global economic scale by US $2trillion and create millions of new jobs, but the continued cessation of the European economy is still a major obstacle

Chinese finance minister said on Sunday that the Chinese government's macroeconomic policies will continue to focus on comprehensive objectives, especially maintaining employment growth and price stability, and will not make major policy adjustments due to changes in individual economic indicators

as China's industrial output growth in August was the weakest in nearly six years, many analysts have lowered their expectations for China's economic growth

according to the data released by the National Association of real estate brokers (NAR) on Monday, the sales of existing homes in the United States fell to 5.05 million after the NAR quarterly adjustment in August, the first time in nearly five months. It is expected that there will be 5.2 million households, and the previous value will be revised to 5.14 million

outlook

the data released by the Federal Reserve Bank of Chicago on Monday showed that the national activity index of the Federal Reserve Bank of Chicago fell to -0.21 in August, the lowest since February this year, and the previous value was revised to 0.26

Chinese finance minister loujiwei repeated Premier Li Keqiang's views at the G20 summit. He pointed out that economic stimulus measures will also cause problems, such as excess capacity, environmental pollution and the increase of local government debt. This shows that the possibility of China's easing policy is limited

Hannes loacker, an analyst at Raiffeisen Bank International Ag in Vienna, said, "concerns about China are rising. China's crude oil demand growth in the second half of the year may remain good, at 3.5%-4.0%. If the demand growth rate shrinks to 2.0%, oil prices will therefore be under greater pressure."

according to the latest survey by Bloomberg, economists expect the HSBC Manufacturing Purchasing Managers' index (PMI) in China released on Tuesday (September 23) to fall below 50 in September, which was 50.2 in August

at the beginning of this month, the International Energy Agency (IEA) announced that it had lowered its global oil demand forecast due to the slowdown of demand growth in China and Europe. At the same time, IEA also predicts that China's oil demand will drop by about 100000 barrels to 10.6 million barrels per day in 2015

for Libya, Mansur Abdallah, director of the zawiya refinery, said on Monday that the largest Sharara oil field in Libya had not been damaged in the recent militia protest dispute, and it is expected that the oil field may resume operation on Tuesday. Last week, the Sharara oil field was forced to shut down due to the rocket attack on the zawiya refinery. Previously, the daily output of the oil field was million barrels of crude oil

phil Flynn, senior market analyst at price futures group, pointed out that "at present, the fundamentals of the crude oil market are undoubtedly quite bad. In the short term, there are not many reasons to support the rebound of oil prices."

focus of this week:

Tuesday

07:30, Kirsch Lakota, chairman of Minneapolis Federal Reserve, Michigan, delivered a speech, The theme is "objectives of monetary policy"

14:45 final GDP value of France in the second quarter

20:30 retail sales of Canada in July

21:00 Brad, chairman of the Federal Reserve of St. Louis of the United States, delivered an opening speech at the conference entitled "community banks in the 21st century"

21:20 Powell, director of the Federal Reserve of the United States, delivered a welcome speech at the conference entitled "community banks in the 21st century"

21:30 George, chairman of the Federal Reserve of Kansas, delivered a speech at Welcome speech at "turning to innovation: Community Development Conference"

22:00 consumer confidence index of the US Chamber of Commerce in September

Giro conference 2014 of the British Association of Actuaries in England, with Bank of England Governor Carney as the keynote speaker on the third day, By September 26, the Japanese autumn equinox at 02:00 on Wednesday, Kircher Lakota, chairman of the Minneapolis Federal Reserve in Michigan, held a town hall forum in Michigan. At 09:15 in recent years, George, chairman of the Cheyenne Kansas Federal Reserve, delivered a speech on the U.S. economic situation at the Federal Reserve Economic Forum. At 09:30, the RBA released the financial review report. At 16:00, Germany's IFO business climate index in September 

22:00 US August new home sales 

22:30 US EIA refinery equipment utilization rate last week

US EIA crude oil inventory change last week (10000 barrels)

Thursday

01:00 Washington Chicago Fed President Evans delivered a speech on economic issues at the meeting held at the Peterson Institute for International Economics

03:05 Ottawa Bank of Canada vice president Lane delivered a speech at Carleton University

10:30 Australian Joint Reserve Chairman Stevens attended the Melbourne Economic Forum

18:00 UK September CBI retail sales

20:30 US August durable goods orders

20:30 us The number of initial jobless claims after China's quarterly adjustment last week

Cleveland Federal Reserve, the company's annual sales exceeded US $600million. President Lolita mester made a statement on the economic outlook and monetary policy at the local business economic association Speech at the luncheon of CFA Association and Risk Management Association 

Japan's consumer price index in Tokyo in September

20:30 final value of individual consumer expenditure price index in the second quarter of the United States

annualized real GDP in the second quarter of the United States

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