Despite the tropical storm Harvey making landfall for the second time in as many days and the clean up cost now being calculated at $200b by some estimators, the USA economy was delivered some good news on Wednesday, in the form of the GDP data coming in at 3% annualised for Q2, ahead of the […]
As the USA presidential administration battled with the chaos in Houston and Louisiana, caused by tropical storm Harvey, the North Korean presidential administration appeared to take advantage of the USA’s attention drift, by firing long range missiles over Japanese air space. Despite the projectiles dropping harmlessly into Japan’s territorial waters, the fact that the potential
As the tropical storm named Harvey continued to batter the USA’s fourth biggest city of Houston, investors and analysts began to survey where the damage, in terms of the financial cost, would hit hardest. Insurance companies’ valuations were naturally heavily hit on the SPX and DJIA index, as the initial cost of the catastrophe is
At the Jackson Hole meeting on Friday, the leaders of both The Fed and the ECB issued very different proclamations with regards to their central banks’ current positions and future guidance, which caused their respective currencies to move in polar opposite directions. Despite a previous and thinly veiled commitment to begin “unwinding” the Fed’s $4.5
The U.K. stats agency the ONS, delivered data which concerned both investors and analysts during Thursday’s trading sessions; GDP Q2 growth came in as expected at 0.3%, keeping annual growth on target for 1.7%. However, based on the current trajectory, many analysts fear the U.K. will struggle to deliver growth over 1% in 2017, many
USA equities fell for the first time in three days as a consequence of Trump’s threat to shut down the USA govt if he doesn’t get funding to build his infamous “Mexico wall”. A domino effect then took shape, as analysts and investors quickly moved on to doubt his capacity to deal with the looming
Markets often rise before a scheduled meeting of the most powerful global banking individuals takes place. The G7 or G30 meetings and the world trade forums, often instil a sense of confidence in investors, a rational belief that the key movers and shakers have everything under control and that projection of competence goes a long
The UK’s asking house price index published by Rightmove, revealed that asking prices fell by -0.9% in August and by -2% in London. YoY nationally prices are still up 3.1%, a rise from the 2.8% recorded in July. In a relatively quiet day for economic calendar news, the only other key European data concerned Swiss
Last week’s news began with Trump dominating market movements, due to the political game of risk and the subsequent impasse with North Korea. As the temperature of the potential conflict was dialled down; from boiling point to simmer, the next self inflicted presidential crisis to effect the markets arrived in the form of clashes, between
It’s been a few weeks since a verbal outburst, or an ill advised tweet from the USA president, moved our markets. Readers may recall that, shortly after Trump’s inauguration, we warned that another economic category should be added to the calendar, to contend with Trump’s tweets or outbursts, given his ability to move markets with
