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
The trading day began on Tuesday with disappointing Chinese data that failed to move the markets. Quite a comparison from previous years, when any signs that the engine of global growth was cooling, would send shockwaves through international markets. Exports from China (YoY) fell to 7.2% growth in July, from 11.3% in June, whilst Chinese
The most prominent action in Forex markets during Monday’s trading sessions, came courtesy of the New Zealand dollar as a consequence of the two year inflation forecast (for the third quarter), missing the forecast; coming in at 2.07%, versus last quarter’s reading of 2.17%. The kiwi fell versus the majority of its peers; NZD/USD fell
Monday starts the week with Chinese data concerning the current account balance and foreign reserves, both figures expected to reveal marginal improvements. USA data is released early morning concerning mortgage delinquencies and mortgage foreclosures over the second quarter of 2017. At 4.71% mortgage delinquencies in the USA are running at extremely high levels, in comparison
As widely predicted, the UK’s BoE division, the monetary policy committee, revealed they’d voted to keep the UK’s interest rate at a record low of 0.25%. This was a rate implemented as an emergency policy, immediately after the UK’s voters elected to leave the European Union in June 2016. As has become customary, what’s termed
As predicted it wasn’t so much “if”, but rather “when” the DJIA would finally breach the 22,000 handle. And on mainstream media TV channels on Wednesday, there were many images of middle aged men wearing jackets, emblazoned with the name of investment banks, or trading firms on their backs, rejoicing from their (supposed) trading floors,
Just as it was highly likely that the DJIA would be drawn to the 22,000 handle, it was somewhat inevitable that price would reject the level, given the cluster of orders located close to this critical psyche level. A record intraday high of 21,990 was reached, with the index of the USA largest firms closing
Despite trading in USA equity markets being approx 10% below the thirty day moving average, both the DJIA and SPX closed up on Monday, the DJIA pushed through R2 to close at a new record high and is now ominously closing in on the next major target, the 22,000 handle, which would represent an approx.
