As widely expected, the FOMC announced that the key interest rate in the USA would remain at 1.25%. In their follow on statement accomplishing the announcement, the committee aired concerns that inflation is below the target of 2%, whilst also committing to begin ‘unwinding’ from the $4.5 trillion balance sheet, a process scheduled to begin […]
European equity markets closed up on Tuesday, partly as a consequence of Germany’s latest IFO readings for: business assessment, climate and expectations, coming in ahead of forecasts. Import prices came in below expectations at a -1.1% increase month on month, ensuring that Germany’s manufacturing costs will be (temporarily or otherwise) cheaper. Other European economic calendar
On Monday the IMF published fresh data with its projections for 2017 global growth, it revised its prediction for the UK’s growth, down from 2% to 1.7%. It must be noted that the IMF are notoriously over optimistic with regards to international growth and that the UK’s Q1 official ONS growth figure came in at
In a major day for Markit PMI releases, the Eurozone figures came in below expectations on Monday. In a sea of red, France and Germany’s: manufacturing, services and composites and the overall Eurozone composites, all missed their forecasts. The misses weren’t huge, for example; Germany’s manufacturing PMI came in at 58.3, which is still signifying
The most prominent high impact news events this week concerns the USA’s FOMC revealing its interest rate decision, whilst Canada will reveal its latest GDP figure, as will the USA, France and the U.K. There’s a raft of Japanese data, including CPI, inflation data this week will also be released by: Australia and Germany. On
Euro rises to a near 24 month high versus U.S. dollar, as Mario Draghi suggests asset purchasing may end in Autumn As widely expected, on Thursday the ECB announced that the main interest rate was remaining at zero, with the deposit rate remaining at -0.4%. The asset purchase scheme (quantitative easing by another name), also
Will the ECB maintain its zero rate policy, when it announces its rate setting decision on Thursday, or will Mario Draghi raise rates, from the floor they’ve been on since early 2016? Will the ECB also begin to taper further its asset purchase scheme, currently running at €60b per month? These questions will be answered
U.S. dollar rises versus peers, euro falls as ECB expected to keep interest rate at zero, when decision is revealed on Thursday Generally positive domestic data helped USA indices rise on Wednesday, with the NASDAQ index printing a new record high, as tech stocks were back in favour. Housing starts in the USA rose by
Gold has safe haven appeal, U.S. dollar and U.S. equities sell off, euro rises versus major peers, as sterling falters The U.S. dollar plunged to an eleven month low, versus the majority of it’s peers, during Tuesday’s trading sessions. Despite the USA equity indices breaching records many times since the Trump election win, the U.S.
U.S. markets close flat, E.U. markets fall, with the exception of the FTSE, euro and Swissie provide price action There is a legendary phrase, regarding not trading in the markets over the summer months, that traders are fond of repeating; “Sell in May and go away, don’t come back ’til St. Leger day.” The St.
