The forties is down till Christmas, in the old North Sea, it will slow that oil flows into Scotland’s refineries. Christmas will find price hikes, all the way downstream. The forties is down until Christmas and the oil price will scream.
The U.S. dollar appreciated during the week as the tax reform inched closer to reality. Fundamental data in the U.S. was positive for the currency but hourly wages again disappointed by coming below expectations. Given the importance of inflation indicators inside the Fed stagnant wages could make it hard on the U.S. central bank to keep raising rates in 2018.
European Commission to Recommend Moving onto Phase Two of Brexit Negotiations; Buy the Rumour, Sell the Fact - Sterling Dips on Brexit Announcement; Bitcoin Slides 10% as Crazy Trading Continues; US Jobs Report Eyed Later in the Session.