REFINING: Shandong Teapot Inventory Rate Rises on Week: OilChem
Dec-18 17:27
Crude storage capacity utilisation rates among Shandong Independent refineries rose 0.9 percentage points on the week to 42.4% for the seven days to Dec. 17, OilChem said.
- By comparison, inventory rates at Shandong’s teapots stood at 44.1% during the same period in 2024, according to OilChem data.
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BOE: Dhingra Slides Maintain Clearly Dovish Stance
Nov-18 17:20
There don’t look to be any surprises in BoE Dhingra's presentation, being the most dovish MPC member. Some highlights from her slides:
- Consumption growth has been consistently weaker than forecast
- The expected falling back in the saving ratio has failed to materialise
- Microdata points to disposable incomes being just as weak as consumption
- Spending microdata suggests household costs are less optimistic regarding a real wage recovery
- Only interest income has grown consistently during the “consumption puzzle period”
- The financial counterpart of savings shows a paying down of debts rather than an accumulation of liquid assets for future consumption
- And deposits have been stable except for the top quintile of households
OPTIONS: Larger FX Option Pipeline
Nov-18 17:20
- EUR/USD: Nov20 $1.1500(E2.0bln), $1.1630(E1.2bln), $1.1675-80(E1.5bln); Nov21 $1.1500(E1.4bln), $1.1675-80(E1.2bln)
- USD/JPY: Nov20 Y150.00($1.3bln), Y155.00($1.4bln)
- AUD/USD: Nov20 $0.6550(A$2.3bln)
- USD/CAD: Nov21 C$1.3950-70($1.3bln)
- USD/CNY: Nov20 Cny7.1080-89($2.0bln)
FED: US TSY TO SELL $95.000 BLN 8W BILL NOV 20, SETTLE NOV 25
Nov-18 17:05
- US TSY TO SELL $95.000 BLN 8W BILL NOV 20, SETTLE NOV 25
