Wednesday, December 17, 2008

Quick Overview

  • U.K. unemployment rate was 6.0, up from 5.8% MoM.

  • Construction output in the Euro area rose 0.1% in October, but down 4.0 YoY
  • YoY Consumer prices in the Euro area rose 2.1%

  • Canada wholesale sales fell 1.8% in October

  • Norway cut its interest rate from 4.75% to 3.00%

  • OPEC will be cutting oil production by 2.2 million barrels a day as of January 1.

  • The U.S. Department of Energy said:
    Supplies of crude oil rose 500,000 barrels to 321.3 million barrels.
    Supplies of gasoline rose 1.3 million barrels
    Supplies of heating oil supplies rose 600,000 barrels.
    Refinery use dropped from 87.4% to 84.1% of capacity
    Gasoline demand fell 2.7%
    Distillate demand fell 4.5%.

  • Russia's central bank allowed the ruble to slide for the second time this week, speeding up the gradual depreciation policy

  • French antitrust authorities ruled that Apple must allow other operators other than France Telecom to sell its iPhone, saying the exclusive deal was unfair for competition.

  • Morgan Stanley reported a wider-than-expected $2.2 billion quarterly loss.

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