DJIA closes at another 2017 record high, dollar soars, as do European indices, yen slumps whilst euro and sterling fall The trading week began with the customary raft of monthly Japanese Tankan data, the majority of which either beat, or came in right on forecast. The large manufacturers’ index is (arguably) the most prominent and […]
Australia’s RBA rate decision, Markit PMIs and the non-farm payroll publication, are this week’s key high impact events The week begins with various Tankan surveys from Japan and the Caixan metrics from China. The Tankan surveys cover many aspects of manufacturing in Japan, and depending on the positive figures, can provide a boost to yen.
USA equity markets sell off sharply, euro, sterling and Canadian dollar make gains, at the expense of U.S. dollar USA equity markets slumped on Thursday, despite the latest U.S. GDP figures coming in at 1.4% annualised, beating the expectations of a 1.2% rise. Weekly unemployment claims came in at 244k, missing the forecast of 240k.
Central banks suggest rate rises are coming; sterling and Canada’s dollar rises accordingly, U.S. equities rise with oil With the U.S. Fed keeping to its commitment to raise interest rates by three times in 2017 (two so far and one due before December 2017), other central banks appear to be singing from the same hymn
Dollar slumps to nine month low versus euro, as Draghi comments stimulates euro versus peers Mario Draghi the president of the ECB, gave a ‘hawkish’ speech in Portugal on Tuesday, during which he suggested that the Eurozone’s economy was possibly now strong enough to consider raising the key interest rate, from its zero floor and
Sterling fails to rise on news of U.K. government/DUP support, yen falls, U.S. equities rise, gold slumps It’s been a dramatic period for politics in the U.K. since the general election held on June 8th. Only gaining 317 seats left the Tories 9 short of a majority. However, after support from a small Northern Irish
Eurozone inflation, the politics and GDPs of the USA and U.K. and Japanese hard data will dominate this week’s news The politics of the U.K. will be in focus throughout the week as the minority Tory government have to gain a majority vote in the House of Commons, in order to govern. Whilst the progress
USA equities close flat, European markets improve marginally, sterling, euro and U.S. dollar stay stuck in ranges Despite the UK enduring recent disappointing ‘hard data’ publications, the UK’s influential CBI delivered some cheer for pessimistic UK business leaders on Thursday, by publishing an optimistic trends survey for both selling prices and orders; orders came in
Oil slumps again, sterling recovers, dollar maintains recent highs, whilst U.S. and European markets sell off The UK government engaged in its version of Japanese kabuki theater on Wednesday, the UK parliament officially reopened with what’s termed the Queen’s speech, a ceremony of pomp and circumstance made all the more ridiculous by the newly formed
Sterling falls on Bank of England governor’s comments, oil slips into technical bear market, dollar hits three week high The U.K. took a break from Brexit negotiations on Tuesday and after the embarrassing battering the ‘Brexit minister’ David Davis received on Monday, the rest must have come as quite a relief, for him. Focus moved
