The U.K. pound traded in tight ranges versus its peers during Monday’s trading sessions, as analysts and FX traders struggled to make sense of the latest Brexit developments in U.K. parliament. At 10:00pm on Monday evening, MPs voted on another arcane parliamentary process; what’s termed “indicative votes” to establish what type of withdrawal agreement exit […]
Asian equity markets sold off during the Sydney-Asian trading sessions, as global recession fears stalked markets in: Japan China and Australia. The Nikkei slumped by -3%, Shanghai Composite by -1.97% and the ASX 200 by -1.11%. This pattern followed a sell off, in European and USA equity markets, on Friday March 22nd, which saw up
Global recession fears rise, as bond yields invert and Asian equities slump Read More »
Monday’s significant calendar events begins the week with the latest IFO: business climate, expectations and current assessment sentiment readings, for the German economy. Coming so soon after the poor Markit PMI readings of Friday 22nd of March (for the Eurozone’s largest economy) missed the forecasts by some distance, the results will be carefully monitored when
On Thursday evening at an E.U. summit, the leaders of the E.U. 27 finally took control of the Brexit process, by declaring the revised exit dates for the U.K. The March 29th deadline has been moved; if the U.K. parliament can’t agree to the withdrawal agreement, then it exits by April 11th, under a no
The next chapter of the Brexit debacle was reached on Thursday, as the U.K. prime minister May scuttled off to Brussels, in an attempt to negotiate an extension, to the March 29th leave date. She wanted June 30th, the Council appears unwilling to grant such an extension, given it would indirectly compel the U.K. to
By Thursday morning, the U.S. dollar had stabilised its Wednesday evening sell off, caused by the FOMC interest rate hold announcement and the dovish monetary policy statement, broadcast by Jerome Powell after the announcement. Mr. Powell hinted that the “normalisation” process; to take the key interest rate up to circa 3.5% by the end of
The FOMC rate setting meeting ended with the key interest rate being kept at 2.5%. However, the greenback crashed versus the majority of its peers on Wednesday evening, after the Fed chair and leader of the FOMC, delivered such a reactionary dovish policy statement, that investors and FX traders were taken by surprise. Jerome Powell
On Thursday March 21st, at 12:00pm U.K. time, the U.K. central bank the Bank of England, will announce its latest decision concerning the U.K. economy’s base rate. Currently at 0.75% the widely held consensus is that the Governor of the Bank of England, Mark Carney, will announce that the rate will remain unchanged at 0.75%,
GBP pairs fell sharply during the early stages of the London-European trading session, as leading E.U. negotiator Michel Barnier instructed the U.K. that the European Council would not be making a decision on the U.K. request for a three month extension, to the Brexit date of March 29th, this week. Instead, the summit would delay
The Brexit debacle took another twist on Tuesday, as Michel Barnier, the leading E.U. negotiator, insisted that the U.K. government’s expectation; to have the exit extended beyond the March 29th legal date agreed by Parliament, is highly presumptive. Mr. Barnier echoed the statements made recently by various other leaders and representatives of the E.U. 27;
