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 […]
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%,
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 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
Sterling fell on Tuesday, shortly after the U.K.’s latest CPI figure (and other inflation data) was released, coming in as the economists’ polled forecast; at 3% YoY. The fall in sterling versus its main peers, was due to the BoE governor Mark Carney, when giving evidence in front of U.K. lawmakers, declaring that he was
Sterling came under pressure on Monday, as Brexit concerns appear to have reached a critical juncture. Many market commentators and those close to the negotiations, are now openly quoting that the relationship between the E.U. and the leading members of the U.K., has completely broken down. Theresa May flew to meet European Commission chief Jean-Claude
The key USA inflation metric (CPI) missed the forecast of 2.3% annual growth for September, coming in at 2.2% when revealed on Friday 13th, which was ahead of the reading of 1.9% recorded for August. Equity markets in the USA rose to new record highs, gold breached back above the $1300 per ounce handle, bitcoin
FX traders needed to remain hyper vigilant during Thursday’s trading sessions, as sterling currency pairs slumped and then rallied, as the political turmoil involving Brexit took center stage in Europe. The two leading negotiators; Davis and Barnier, appeared to be at odds once again, with Barnier, representing the remaining 27 E.U. members, voicing his profound
