Green Shoots in Retail, Jobs and Philly
Fast Facts About Today’s Economic Data U.S. Retail Sales rebounded +1.6% in March and accelerated on Y/Y Basis. Initial Jobless Claims fall for 5th week in a row. Philly Fed Index shows sharp rebound in New Orders. What Brexit? U.K. Retail Sales up +6.6% Y/Y. No...
Green Shoots in China
Fast Facts About Today’s Economic Data U.S. Trade Balance improved once again as China and EU imports plunged in February. U.S. Mortgage Purchase Applications at 9 year high. China Q1 GDP comes in just above expectations (+6.4% Y/Y) thanks to Industrial...
Alden US Morning Energy Sales Commentary
The API reported a 3.1mmb draw (Cushing: 1.6mmb), a 3.6mmb draw in mogas, and a 2.3mmb build in distillates. All-in-all a positive report although the distillate build may not auger well for the natural gas storage. XEC: Charles Robertson, Alden’s Head of Energy...