Thungen Financial 14th January 2015 - Global Economic Round Up

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Thungen Financial 14th January 2015 - Global Economic Round Up

Japanese markets dipped today as news was announced that the 2015 budget had been agreed and was the largest on record. The $812bn budget comes at the same time the World Bank downgraded their growth outlook for 2015 and 2016. Now just expected to expand by 1.2% and 2016 to see just 1.6% there is a tough road ahead for Prime Minister Abe and he now has to focus on continuing his reforms and many expect further stimulus measures in the coming months.

Later today in Europe the European Central Bank will received the European Court of Justice's answer on the legality of the proposed bond buying program. The QE measure has been in its proposal stage for some time and today we will find out whether we will see QE in the EU at the beginning of 2015. We are just 2 weeks away from voting in Greece which could see the move delayed further, however, Mario Draghi the head of the ECB has been rather vocal on his intentions and if his detractors lose their battle we should see quantative easing in Europe very soon.

The major indexes in the US started to see some caution as the price of oil continues to fall. With Brent losing 7% and Crude 5% this week the $40 barrel of oil seems very probably if not set in stone already. Energy stocks have weighed down other sectors lately yet we are just about to start earnings season and there will be plenty of industries that will have benefitted from the fall in oil prices, airlines are the obvious one with several already saying they expect to see huge fuel cost savings in 2015.

If oil falls further and levels out at the reported $40.00 per barrel it will allow several emerging economies to make up some ground. On the other side, it could harm Russia beyond a swift recovery and will see the economies in the Middle East falter which in turn will no doubt add fuel to the fire that is seen politically within the region.

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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.