With USA equity markets closed on Thursday due to thanksgiving holiday, the volume of trading in the FX markets was also effected, with the dollar falling versus the euro and the rest of its main peers. However, price action was extremely limited throughout the day, with the major currency pairs experiencing very little in terms […]
The minutes of the FOMC November meeting were published on Wednesday evening, revealing that an interest rate rise is imminent, however, the minutes also struck a dovish tone, with the various Fed chairs indicating their inflation fears, suggesting that rate rises in 2018 may not be as aggressive as previously predicted. As a consequence of
At 9:30am GMT, on Thursday November 23rd, the U.K. statistics agency the ONS will reveal both the latest monthly and yearly GDP figures for the U.K. economy. The forecast is for no change; 1.5% growth annually and 0.4% for quarter 3, matching the 0.4% reported for Q2. Whilst such figures are less alarming than many
After falling back last week, whilst displaying a classic Heiken Ashi doji on a weekly chart, indicating investor indecision, many analysts were left wondering where the next momentum would come from, in order to push the main USA equity markets to fresh record highs. After setting so many highs throughout 2017, finally the SPX broke
On Wednesday November 22nd at 12:30pm GMT, the U.K. Chancellor will present his Budget to Parliament. It’s generally accepted that Philip Hammond botched his first budget last November, announcing a significant and surprise tax increase for the self-employed. He then immediately drew criticism from conservative supporters and his fellow M.P.s, who were both angered and
Can Philip Hammond, the U.K. chancellor, deliver a budget to calm Brexit nerves? Read More »
As news broke from Germany late Sunday evening, revealing that current chancellor Angela Merkel had failed in her attempts to forge a coalition alliance with the FDC party, the euro fell immediately once the FX markets opened. EUR/USD fell by circa 0.9%, reaching S3. As European markets opened the currency pair began to recover, whilst
Last week ended with the main SPX falling for the second week in series and the U.S. dollar also falling for the fourth day in series. Investors appear to be concerned that; despite earnings season proving to be encouraging for U.S. stocks and the Republicans’ tax proposals passing through their first hurdle in The Senate,
With the U.K. chancellor due to deliver his budgetary autumn statement to the Houses of Parliament on Wednesday, we can expect sterling to rise and fall during the delivery of his statement. This speech is preceded by various U.K. governmental debt and borrowing figures published on Tuesday, which may also cause price action in sterling.
The main equity indices in the USA rallied on Thursday, as the proposed tax cuts, which were at the heart of Trump’s election manifesto, passed through the first governmental process, as the Senate House passed the Republican Party’s first version of the bill. The opposition Democrats may put up resistance to the bill and its
With corporate earnings season effectively over, the tax cuts initiative unlikely to be made law (in the form Trump wanted) any time soon and the December FOMC rate setting meeting beginning to focus minds, investors in U.S. equities have been struggling to justify reasons to bid markets up over recent days. Doubts are also beginning
