The ECB announced on Thursday, that the key Eurozone interest rate would remain unchanged at zero percent, whilst the APP would be cut from €60b to €30b a month, beginning January 2018 for nine months. Despite this significant development, the euro fell sharply versus several peers, as despite a reduction of 50%, the taper was […]
Sterling rose by circa 1% versus the U.S. dollar on Wednesday, as U.K. GDP for the third quarter of 2017 came in at 0.4% growth, versus the expectation of a 0.3% rise, maintaining the YoY growth at 1.5%. Investors immediately translated this result as evidence that the BoE’s monetary policy committee, now has the necessary
On Thursday October 26th, at 11:45 GMT, the Eurozone central bank, the ECB, will reveal its decision with regards to the single currency bloc’s interest rate. The current key borrowing rate is zero percent, with the deposit rate below zero, at -0.40%. These emergency rates are still a legacy of the recession the Eurozone found
The DJIA posted another record high on Tuesday, on the basis of improved earnings from certain companies, such as Caterpillar Inc. and 3M, despite relatively thin equities’ trading, which indirectly helped to push up values of the 30 company index. The index added over 200 points at one stage and rose by up to 0.84%,
There are two high impact, economic calendar news events, which traders need to monitor carefully on Wednesday October 25th. The first concerns the U.K., whose official statistics body the ONS, will be publishing the latest Q3 quarter’s GDP growth figure. The second involves Canada’s central bank, who will be revealing their interest rate decision. Both
The U.S. dollar initially reached a three month high versus yen on Monday, as a consequence of investors believing that Abe’s re-election in Japan will ensure that the loose monetary policy; of low interest rates and asset purchase/quantitative easing, would now continue. However, yen clawed back its losses, versus many of its peers, deep into
The continual, gravity defying, record rises in the main equity markets in the USA, comes at a time when older heads are remembering the thirty year Black Monday anniversary, 19th October 1987, when markets in the USA fell by up to 23% in a day. In today’s era, when if the markets fall by 2%
The coming week is an extremely busy week for high impact data releases, Australia’s CPI, currently at 1.9%, will come under scrutiny, as rumours persist that an interest rate adjustment is possible if (and when) the annual CPI rate exceeds the generally accepted central bank target of 2% consistently. There’s a raft of Markit PMIs
The key event in the FX markets on Thursday concerned the kiwi, New Zealand’s dollar. The Labour Party in New Zealand will now be in power with a coalition of partners and as a consequence the NZD slumped, losing over 1% versus many of its peers. Equities in the country also fell. As to whether
The three leading USA indices; NASDAQ, SPX and DJIA, all closed at or near to record highs, with some also reaching intraday record highs on Wednesday. The across the board rise wasn’t bolstered by economic calendar data, as the latest house building figures came in way below forecast. Building permits fell by -4.5% MoM in
