Wednesday, January 25, 2006

Quick Overview

  • U.S. Existing home sales were at an annual rate of 6.6 million units in December, down 5.7% from November's pace. There are 2.8 million homes for sale in the U.S. -- a five month supply.

  • China's GDP was up 9.9% in 2005 to $2.3 trillion. That puts China in the number five position,
    just behind Britain, Germany, Japan and the United States. .

  • YoY Mexico's economy expanded a slower-than-expected 2.7 percent in November.

  • GDP in the U.K. was up 06% in the fourth quarter and up 1.8% for all of 2005.

  • YoY Consumer prices in Australia were up 2.8%

  • The Ifo index of business confidence in Germany increased from 99.7 to 102.0 in January

  • Ford Motor Co. said Wednesday it is developing the Ford Escape Hybrid E85, a research vehicle marrying hybrid electric power and ethanol capability


  • The Chinese National Bureau of Statistics said that:
    2005 Cotton Output was 5.7 Mln MT, down 9.8% YoY.
    Total grain output in 2005 rose 3.1% to 484 million tons.
    Meat production for the year rose 6.3%.
    2005’s Oilseed and sugar output were unchanged from 2004.

    Ag Minister Du Qinlin said that, although grain output has risen in the past two years, production has still failed to meet demand. He says it will be increasingly difficult to boost output due to China's growing population, water shortages, and a decrease in the size of farm lands.
    Du said that China will likely face a shortage of grains next year, as demand is expected to exceed output by 15 million tons, demand for grains are expected to reach 495 million tons in 2006.
    China also said that they imported 1.39 million tons of sugar, up 14% from a year ago.

  • There is speculation that a decision may be nearing on a Barclays silver ETF.

  • Regulators in India will allow mutual funds to launch gold ETF’s.


  • The DoE said that:
    Supplies of crude oil were down 2.3 million barrels to 319.1 million barrels.
    Supplies of unleaded gasoline were up 3.2 million barrels
    Supplies of heating oil supplies were up 1.6 million barrels.




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