6th of December - Your Inside Scoop

[Trade mapping]( OIL PRICES REBOUND AFTER CHINA DATA Oil prices recovered some ground on Wednesday as upbeat data from China helped ease global growth worries. Benchmark Brent crude rose half a percent to $58.56 a barrel, while U.S. West Texas Intermediate futures were up 0.8 percent at $54.38 a barrel. Oil prices sunk to a nearly one-month low on Tuesday after data showed manufacturing across vast parts of Europe and Asia remain deeply mired in a crisis. American manufacturing shrank for the first time in three years this summer, with new orders and hiring declining sharply as trade tensions weighed on business confidence. [Read More]( AUSTRALIA TRADE BALANCE DATA DUE ON THURSDAY Australia will on Thursday release October numbers for trade balance and retail sales, highlighting a modest day for Asia-Pacific economic activity. The trade balance is expected to show a surplus of A$6.50 billion, down from A$7.180 billion in September. Retail sales are called higher by 0.3 percent, up from 0.2 percent in the previous month. New Zealand will provide Q3 numbers for the volume of all building, with forecasts suggested to show an increase of 1.0 percent on quarter following the 1.5 percent contraction in the three months prior. South Korea will see October results for current account; in September, the surplus was $66.89 billion. [Read More]( CRUDE OIL SPIKES ON DROP IN INVENTORIES AHEAD OF OPEC MEETING Crude oil prices showed a substantial move to the upside during trading on Wednesday as traders looked ahead to the start of OPEC’s biannual meeting in Vienna on Thursday. After inching up $0.14 or 0.3 percent to $56.10 a barrel on Tuesday, crude for January delivery spiked $2.33 or 4.2 percent to $58.43 a barrel. The jump in oil prices came after a report from the Energy Information Administration showed a steeper than expected weekly drop in crude oil inventories. The report said crude oil inventories tumbled by 4.9 million barrels in the week ended November 29th compared to estimates for a decrease of about 1.7 million barrels. [Read More]( You are receiving this e-mail because you made a great decision to subscribe to the [TradeMapping.com]( Newsletter. If for any reason you believe you received this email in error, [click here to unsubscribe](. © 2019 Trade Mapping. All Rights Reserved. 20 North Orange Avenue, Unit 1100 Orlando, Florida 32801