Yesterday, OPEC made the historic decision to cut their production by 1.2m barrels a day. This was a move that should not have been a surprise, as when they met in Algiers two months ago they said a deal would be made. Yet, as was clear from the price of Oil in the last two months, the markets did not fully believe them.Read more
All eyes will be on Vienna tomorrow, as OPEC have their meeting to determine whether a deal on production cuts and freezes can be reached.Read more
Phillip Hammond has just delivered his first Autumn Budget Statement as Chancellor. It did not contain any major surprises and was overall pessimistic in tone as forecasts and expectations have been lowered as a result of Brexit. Borrowing is set to rise and tax receipts have fallen.Read more
Oil has rallied 4% today on the back of renewed hope that OPEC will come to a production deal at their Vienna meeting at the end of the month. WTI futures have broken back above $45 after reaching 3 month lows yesterday.Read more
Unsurprisingly, the shock Trump victory has caused wide spread volatility in the financial markets. The victory for Trump is just another sign of the anti establishment feeling spreading around the Globe.
Perhaps the people having the worst day of anyone right now are the pollsters.Read more