Thungen Financial 5th December 2014 - Global Economic News

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Thungen Financial 5th December 2014 - Global Economic News

Asian markets were up today off the back of a drop in oil prices and relatively positive data out of the US.

The Nikkei 225 saw marginal gains on Friday but managed to end the week up over 2%.

US employment data is due later today and according to Reuters nonfarm payroll should have added over 230,000 jobs and unemployment has remained the same at 5.8%

European indexes are expected to open lower after no real details were given by the European Central Bank on when and how it is looking to implement its own style of sovereign debt program. The ECB has been looking to start purchasing state bonds however it is coming up against some opposition, primarily from Germany.

If the ECB can run a program that could incorporate all of its members in the EU then there is a fair chance that QE will be starting early next year. EU members are either currently stagnant or looking at recession and they will need the ECB to be strong in their attempts to stop deflation further next year.

OPEC announced that it would be looking to reduce the price per barrel it is charging Asia and US, Last week Saudi Arabia blocked a request to reduce production as the price of oil hit the low $63.00 mark. Only Qatar can afford to see oil in this region and the remaining members of OPEC require a price in or around the $100.00 mark.

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DISCLAIMER  The views, opinions, findings, and conclusions or recommendations expressed on this service are those of the author(s) and do not necessarily reflect the views of the Thungen Financial Advisors. All market data within this release is for your general information and enjoys indicative status only. Thungen Financial Advisors does not accept any responsibility for its accuracy or for any use to which it may be put. All share prices and market indexes delayed at least 15 minutes. 52 week high and low values are calculated from close price data.