WEEKLY MARKET TEKEL REPORT 4 – 4

Publicada en Publicada en MARKET TEKEL REPORT

OIL & GAS

WTI was up +0.99% during the week and closed at 50.85 on Friday at 4 pm. Brent was up -0.33% and closed at 51.78 in the same period Oil futures reversed early losses to end higher on Friday, despite a stronger dollar after Russia’s energy minister said an oil output freeze agreement was necessary to help stabilize the market. Russian Energy Minister Alexander Novak on Friday expressed interest in cooperating with an OPEC production cut and said that he would make proposals to his Saudi Arabian counterpart at a meeting of Gulf Arab oil ministers over the weekend. A stronger dollar, which makes oil more expensive in other currencies, pressured oil lower earlier on Friday. Oil prices had fallen after hitting a one-year high Wednesday in a rally fueled by an unexpectedly large

U.S. oil inventory drawdown. The U.S. EIA said oil inventories fell by 5.2 million barrels in the week ended October 14. That was compared to forecasts for a stockpile build of 2.7 million barrels. Total U.S. crude oil inventories stood at 468.7 million barrels as of last week, the EIA said.

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Some analysts feel the pullback indicates that the recent oil price rally is unsustainable, with global production continuing to outpace demand. Source: Crude oil futures – weekly outlook: October 24 to 28

http://www.investing.com/news/commodities-news/crude-oil- futures—weekly-outlook:-october-24—28-434094

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EQUITY

The DJIA closed +0.04%, to end at 18145.71, while the S&P 500 ended +0.38%, at 2141.16. U.S. Stocks advanced on Friday as a record day for Microsoft and earnings from McDonald’s helped offset a fall in energy and healthcare shares. A stronger dollar, which touched its highest level since early February, also pulled on sentiment as it could dent the earnings of large multinationals. U.S. corporations are reporting annual profit growth for the first time in six quarters, but investors don’t seem too excited about it. While that reasonably could be expected to bolster optimism among investors, the U.S. presidential election and the threat of an interest-rate hike have kept gains in check. BOVESPA closed up +3.79%. IPC closed +1.50%. MERVAL closed +4.84  %. COLCAP closed +1.26%. STOXX 600 closed UP   +1.28%.

Source: Wall Street ends little changed; Microsoft hits record http://www.investing.com/news/stock-market-news/stock-futures-dip-as-investors- assess-earnings-433881

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FIXED INCOME

US 10-Year yield was down -3.82% to 1.736, the 2-Year yield was -1.78% to 0.828 and the 30-Year yield was -3.00% to 2.486 during the week. Sovereign-bond yield curves around the world flattened this week, as Bank of America Merrill Lynch questions whether the Fed’s intent to raise rates gradually can produce the sort of high-pressure economy that would accelerate inflation and further elevate longer-term yields. A report on consumer prices provided evidence inflation was getting closer to the Fed’s goal, while new home construction unexpectedly dropped and more Americans than expected made initial jobless claims. Portugal’s nation’s credit rating was retained at investment grade by DBRS Ltd. Data in China showed industrial output missed estimates and a weakening yuan spurred concern about capital outflows. Source: Bloomberg – http://www.bloomberg.com/news/articles/2016-10- 20/asian-stocks-outside-japan-set-to-fall-as-euro-oil-nurse-losses

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FOREIGN EXCHANGE

The dollar rallied on Friday, amid heightened expectations that the Fed will hike interest rates before the end of this year and the euro weakened in the wake of Thursday’s ECB policy meeting. GBP/USD was +0.39% to 1.2235 during the week. UK is set to release its preliminary estimate of third quarter growth. EUR/USD closed -0.79%. USD/JPY closed -0.35% while USD/COP closed +0.28 % at 2928.99 Source: Investing. Forex – Weekly outlook: October 24 – 21

http://www.investing.com/news/forex- news/forex—weekly-outlook:-october-24—28-434087

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LATAM CREDIT

Argentina looks to battle corporate and public corruption with new laws. Brazil Senate police chief arrested for thwarting corruption probe. Venezuela’s electoral authority on suspended the referendum against President Maduro, sparking outcry from the opposition. Colombia’s government on presented to Congress a tax reform bill that seeks to make up for lost oil revenue and preserve its investment grade credit rating. Source:   Investing World News

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WEEKLY ECONOMIC CALENDAR

MONDAY 24 TUESDAY 25 WEDNESDAY 26 THURSDAY 27 FRIDAY 28
 

Chicago Fed National Activity Index

8:30 AM ET

 

William Dudley Speaks 9:00 AM ET

 

James Bullard Speaks 9:05 AM ET

 

PMI Manufacturing Index Flash

9:45 AM ET

 

4-Week Bill Announcement 11:00 AM ET

 

3-Month Bill Auction 11:30 AM ET

 

6-Month Bill Auction 11:30 AM ET

 

U.S Energy Secretary Ernst Moniz Speaks 11:00AM

 

Charles Evans Speaks 1:30 PM ET

 

Jerome Powell Speaks 1:45 PM ET

 

Rio Oil & Gas Conference in Rio de Janeiro

 

Singapore International Energy Week

 

 

 

 

 

 

 

 

 

Redbook 8:55 AM ET

 

FHFA House Price Index 9:00 AM ET

 

S&P Corelogic Case- Shiller HPI

9:00 AM ET

 

Platts Financing U.S. Power Conference 9:00AM

 

Consumer Confidence 10:00 AM ET

 

Richmond Fed Manufacturing Index 10:00 AM ET

 

State Street Investor Confidence Index 10:00 AM ET

 

4-Week Bill Auction 11:30 AM ET

 

2-Yr Note Auction 1:00 PM ET

 

Dennis Lockhart Speaks 1:20 PM ET

 

API Weekly Petroleum Report

4:30PM

 

Singapore International Energy Week

 

 

 

 

 

 

 

 

 

Bank Reserve Settlement

 

MBA Mortgage Applications 7:00 AM ET

 

International Trade in Goods

8:30 AM ET

 

PMI Services Flash 9:45 AM ET

 

New Home Sales 10:00 AM ET

 

EIA Petroleum Status Report

10:30 AM ET

 

2-Yr FRN Note Auction 11:30 AM ET

 

5-Yr Note Auction 1:00 PM ET

 

IEA Mexico Energy Outlook

 

3Q Earnings: Suncor Energy, Sinopec Oilfield Services

 

Singapore International Energy Week

 

 

 

 

 

 

 

 

 

 

 

 

 

Weekly Bill Settlement

 

Durable Goods Orders 8:30 AM ET

 

Jobless Claims 8:30 AM ET

 

Bloomberg Consumer Comfort Index

9:45 AM ET

 

Pending Home Sales Index

10:00 AM ET

 

EIA Natural Gas Report 10:30 AM ET

 

Kansas City Fed Manufacturing Index 11:00 AM ET

 

3-Month Bill Announcement 11:00 AM ET

 

Month Bill Announcement 11:00 AM ET

 

Yr Note Auction 1:00 PM ET

 

Fed Balance Sheet [Bullet4:30 PM ET

 

Money Supply 4:30 PM ET

 

3Q Earnings: Statoil, ConocoPhillips, Occidental Petroleum, China Petroleum and Chemical Corp.

 

Singapore International Energy Week

 

 

GDP

8:30 AM ET

 

Employment Cost Index 8:30 AM ET

 

Consumer Sentiment 10:00 AM ET

 

Baker-Hughes Rig Count 1:00 PM ET

 

OPEC High-level committee to discuss implementation of Algiers agreement meets in Viena

 

API monthly Oil Inventory Report 3:00PM

 

CFTC Commitment of Traders Report 3:30PM

 

Singapore International Energy Week

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Produced by:   TEKEL CAPITAL & TRADING S.A.S.

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