Friday, May 27, 2016

Economic News , Data & Views ( May 27, 2016 ) Overview For Friday ( 1. Markets & Market Moving News - Yellen Remarks Lead Traders To Believe Rate Hike Coming In June / July Timeframe , Crude Oil Items Of Note - Opec Meeting Next Week / Supply Data / Nigeria and More , G-& Related News. , Central Banker Item , Turkey Lira Weakens Along With Turkish Tourist Industry 2. Libya Items De jour. 3. Iraq-Syria Regional War - ISIS In Focus. )



Markets & Market Moving News....








What a difference a month makes - gold has fallen 6% in May








Goldman: Yellen Remarks Consistent with High Probability of June/July Hike









US drillers cut more rigs (weekly: -2 to 316) despite price recovery to $50 a barrel -- data








"Fed forecasting": here is the Fed's dot plot less than 6 months ago - 4 rate hikes in 2016.








Why Stocks Keep Rising Despite Another Rate Hike On The Horizon: One Explanation









two weeks later, confirmed by NNPC on , quoting prodn at 1.1 myn b/d including condensate. even worse.









sees no decision at Opec meeting next week, Russian oil minister Novak says. Oil prices drop.









oversupply in storage. Where, what products, storage type, price recovery impact? Ask








Other G-7 leaders don't seem to be buying Japan's warning on the risk of an economic crisis

















and drive oil production to 8-year high, output from other members volatile:








Lira weakens vs Dollar as Foreign tourist arrivals to have dropped by 28% in Apr. Biggest decline on record.















"At 11:45pm on Thursday blew up other Gas and Crude trunkline close to Warri"








10y German Bund yields have decoupled form rising price. Now either oil price must fall or yields have to rise.









Libya......






Mrajaa Ghaith: We are approaching the month of Ramadan, and we wanted to ease the hardship of the people







Mrajaa Ghaith: The decision [to print currency in Russia] was made before the Tunis meeting and approved by 4 of 7 board members






Mrajaa Ghaith: The problem we have is liquidity and the decision to print currency did not come as a result of the Tunis meeting






GNA reverses field on Bayda currency issuance - no longer counterfeit , at least for now.











Most of this has come quite recently , say in the past week....








NATO spokesman says there are no plans to carry out unilateral military action in Libya








Sanctions threat made regarding General Haftar....









UK willing to do more , France and Germany - not so sure....









Something not quite right with all of this ....



















ISIS War - Iraq & Syria.....








FWIW - timeframe for US to see ISIS defeated in Mosul & Raqqa could be before US Election in November !










Warren says Russia operating more in the west of Syria, not done much in Raqqa and not been a problem for coalition to operate there








Total coalition airstrikes in Iraq and Syria: 12,508. US responsible for 68% of strikes in Syria, and 94% in Iraq.















ISIS took many villages in pocket by surprise due to sleeper cells, who suddenly took over villages & let ISIS in from East side.







Some people in now scared ISIS has sleeper cells inside &will take their town same way. Some believe rebels strong enough to defend.







Coalition planes now over pocket attacking ISIS position. I heard sound of 2 explosions over phone as I spoke to my source on ground








Great map ....









ISIS really making major move.









If Iraqis fear executions by increasingly desperate ISIS , you probably will see more than the estimate of 50,000.











BREAKING: We are evacuating team & patients from our Al Salamah hospital in north after IS offensive in .








: Journalist Maamun al-Khateeb from Azaz tells IS cut Azaz-Marea route, leaving 15k trapped in Marea alone. "This is a disaster."








SDF field commander Hawkar Kobane- “U.S. forces are taking part in this [Raqqa] operation” alongside his own troops













LATEST — It is not acceptable for US soldiers to wear YPG terrorist arm badges; this is double standards, two faced, FM Çavuşoğlu says








So much for the thought of no US boots on the ground in Syria....