Since the election, Wall Street has been optimistic bas never before. Indice have been on the rise since November 2016, some new record have been set. Robert Shiller, a Yale professor, has something to say about it.
According to Goldman Sachs, a new extraction project and a shale boom could add one million barrels per day to oil output by in the coming years, creating an oversupply problem and a big predicament for efforts by OPEC.
Unemployment unexpectedly declined to 4.7 percent, the lowest rate since 2005, according to the Office for National Statistics. The number of the employed increased by 92,000 to 31.9 million. Unfortunately, there is no pay rise.
The Euro edged higher one-month lows on Monday, recovering after Friday’s bout of profit-taking following a robust U.S. jobs report, as investors looked to this week’s Federal Reserve’s policy meeting in which it is expected to raise rates by a quarter percentage point.
Oil price dropped on Friday, going back to what it used to be before. It is feared that a lower growth than expected for China may lead to a diminished demand. Another reason is Russia that is doubted to hold the terms of extraction.