The UK Markit PMI for manufacturing held a pleasant surprise despite the fact that it did not rise, but it held better than expected (55.1) coming at 55.2 down from 55.3. Still, it is the third consecutive decline and compares with the 56.9 average in Q4 17 and 55.9 average for all last year. The […]
February 2018 has proven to be one of the most volatile and tumultuous months for equity markets, witnessed in many years. The month has closed out with the largest fall in the main equity markets (DJIA and SPX), seen in two years. The February fall for the DJIA is -4.28%, the SPX has registered a
The economic news calendar was dominated by American fundamentals on Tuesday with the calendar releases and political events. The recently appointed Fed chair Jerome Powell wasted no time, during his testimony in front of a House committee, when suggesting that both he and the Fed think asset prices may be too high and inflation may
U.S. equity markets and overall investor sentiment, appears to have discovered an equilibrium position. The subjects of inflation, bonds, market valuations, and the U.S. dollar value, are no longer the overall concerns that caused the sudden sell off, witnessed in late January early February. Sentiment appears to be back to 2017 bullish levels, an example
U.S. equity markets reversed their earlier weekly losses on Friday, with the SPX rising by 1.60% on the day, the rise has now placed the index back in positive territory for the year; YTD the rise was 2.79% at Friday’s close of business. Both the DJIA and NASDAQ have followed similar recovery patterns, however, the
Equity markets in the USA broke their two day losing streak on Thursday, as both the DJIA and SPX closed up, encouraging jobless claims. Falling to a five week low, and continuous claims also falling, added to the overall mood of investor optimism during the New York session. However, many analysts were quoting that institutional
The FOMC minutes, relating to the January 30th-31st meeting were released on Wednesday evening and they offered up very little in the way of clues, regarding the timing of interest rate rises in 2018. Instead the minutes accentuated the positives in the USA economy and with regards to any concerns over inflation building up, the
Both main USA equity markets, the DJIA and SPX, sold off during Tuesday’s New York session, as the markets raced back into life after the close for the President’s Day bank holiday. Both key indices eventually closed down, ending an unbroken winning streak of six days. Certain earnings spooked the markets, most notably the giant
In a relatively quiet trading day, due to markets being closed as a consequence of President’s day in the USA, the majority of FX pairs traded sideways in tight ranges, throughout the day’s trading sessions. There was very little medium to high impact economic calendar news published, only the Eurozone’s increasing current account surplus, growing
The investor tantrums, in relation to inflation fears bringing forward FOMC rate rises, are rapidly fading memories, as the SPX has now enjoyed its best five day rally since 2011. Traders and investors are regaining their confidence and several analysts and opinion formers are busy rewriting their theories, as to why markets temporarily slumped. The
