Despite the UK service sector survey hitting pre-recession highs it’s far too early to celebrate… We’re big fans of Markit Economics, however, we’re just a little concerned that the mainstream financial press are becoming a little over excited with each publication that Markit publishes. The key issue is that these diffusion surveys are just […]
Between The Lines; morning roll call Read More »
As the SPX reaches record highs the NFP numbers disappoint, but the dollar remains bought. As if proof were needed that the Fed's continual commitment to monetary easing is fueling the rise in the main equities indices of the SPX, the DJIA and the NASDAQ, it came in the form of several disappointing news events
Is the trend still your friend? Trend prediction for the week beginning July 3rd 2013 Read More »
UK services PMI rockets to 60.2 beating expectations of 57.4 As reported in our ‘Between The Lines’ section this morning the UK services PMI was a high impact news event that had the potential to affect market sentiment. The number was of particular relevance for ‘cable’ traders who witnessed a break out to the upside
Mind The Gap; mid morning London session update before the New York open Read More »
Many of us technical analysts have lamented the passing of the 'risk on-risk off' paradigm that enveloped the market over recent years. If risk was on; by definition the investment community were bullish in their market sentiment, then indices rose as money flew out of safer haven currencies such as the reserve currency of the
Has gold lost its recent bullish glitter? Read More »
As the SPX reaches record highs the NFP numbers disappoint, but the dollar remains bought. As if proof were needed that the Fed’s continual commitment to monetary easing is fueling the rise in the main equities indices of the SPX, the DJIA and the NASDAQ, it came in the form of several disappointing news events
Trend prediction for the week beginning July 3rd 2013 Read More »
It’s been quite a week for fundamental event driven traders, for the most part the market has not only delivered the expected policy decisions and news event predictions, but the trends have also ‘obeyed’ the predictions, with a few exceptions… With the FOMC statement the clear policy directive, courtesy of Ben Bernanke and the Fed,
Big news week to be finalized by the NFP jobs number Read More »
In our weekly trends newsletter, “Is the trend still your friend” we advised that all traders long cable, who prefer technical analysis to make their trading decisions, should wait for a signal to confirm that the trend, which had began from July 10th, had finally broken down… On the daily chart Cable had failed to
Cable trend broken this week as yen shows major gains Read More »
No matter how level headed we are as traders we all suffer from our confirmation biases. I have to admit that the news regarding the UK’s surge in construction and in particular house building took me by surprise. The UK construction PMI was released this morning, courtesy of Markit Economics and the print busted even
It’s all so 2005/2006 for the UK construction industry and house prices. Read More »
The Eurozone manufacturing sector returns to growth as the UK's manufacturing rises sharply In our Between The Lines section we'd mentioned the importance of the publication of the PMIs relating to: the UK, individual European countries, the Eurozone, Asia and the USA. These data prints, published courtesy of Markit Economics, are published monthly and can
Mind The Gap; mid morning London session update prior to the New York opening bell Read More »
Fed to keep the $85 billion monthly monetary stimulus active whilst USA GDP rises by 1.7% As we mentioned in our Mind The Gap section and yesterday's Between The Lines section, all eyes were on the Fed Chairman Ben Bernanke as he conducted his FOMC statement. Did he disappoint? Well if you were looking for
Between The Lines; morning roll call Read More »
