Beijing is clearly getting nervous about the pace of growth in the world’s second-largest economy. This week the release of more important economic data will provide us with further insight into what is happening in the world’s second-largest economy.
The main and most important short term oil price driver continues to be the outcome of tomorrow’s OPEC meeting in Vienna. Neither Russia nor Mexico showed a willingness to cut their production in support of an OPEC cut.
The only difference with this grouping of time windows is huge market turns usually do not start in November. But here’s what I’ve seen happen. Markets can top around this time, rebound at the Santa rally but then double top or make secondary highs right after Christmas
On Friday, we found out that the Eurozone’s painfully slow economic recovery continued for another quarter. Surprisingly, the growth was fuelled by better performances from some of the peripheries, although France did well, too, as it expanded 0.3% over the quarter.