Wednesday, October 25, 2006

Quick Overview

  • The National Association of Realtors said U.S. existing home sales were at an annual rate of 6.18 million units in September, down 1.9% MoM.

  • The number of existing homes for sale dropped 2.4% to 3.75 million, a 7.3 month supply.

  • The U.S. Department of Energy said that:
    Supplies of crude oil were down 3.3 million barrels to 332.3 million barrels.
    Supplies of unleaded gasoline were down 2.8 million barrels
    Supplies of heating oil were up 700,000 barrels.

  • AWB Ltd. reduced its estimate of Australia's wheat crop from 13.5 to 10.0 million tons.

  • Business confidence in Germany increased from 104.9 to 105.3 in October, more than expected.

  • Former Chinese central bank adviser Yu Yongding said that China should allow the yuan to appreciate faster and that China should abandon its export promotion policy.

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