International News (Issue 401) – 27 May 2016

image_pdfimage_print

International News – 27 May 2016

 

I’ll be quick this week, there wasn’t a huge amount to remark upon.

 

Oil made it back through $50 a barrel and is now 66% off its lows as US inventory depletion is finally starting to occur.

 

It feels like we could see $60 a barrel in the coming months, but I wouldn’t bank on much more than that on a 12 month view, as some of the production curtailments to have helped spur the inventory run-down are temporary in nature.

 

But the lows are in.

 

The US economy took heart from a 22 year high in new home sales last month and alongside it we saw 6 year highs in new mortgage applications.

 

US housing is alive and well and is arguably giving the Federal Reserve sound grounds to raise interest rates again there in the coming months.

 

 

 

Disclaimer:

This information has been prepared by Primestock Securities Limited ABN 67 089 676 068, AFSL 239180 (“Prime”). Prime accepts no obligation to correct or update the information or opinions in it. This information does not take into account your objectives, financial situation or needs. Before acting on this information, you should consider whether it is appropriate to your situation. It is recommended that you obtain financial, legal and taxation advice before making any financial investment decision. Prime is bound by the Australian Privacy Principles for the handling of personal information.

By | 2017-06-16T15:16:21+11:00 May 27th, 2016|International News|0 Comments

About the Author:

Prime is an Integrated Wealth Management Firm for business owners and family groups. Prime’s goal is to become the Premier Partner to Accountants for Growth, Succession and Integrated Wealth Management and to deliver personalised advice to clients for a secure financial future.