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
USA equities reach fresh record highs as tech stocks rally, U.S. dollar rises, gold and oil register falls It was a relatively quiet day for economic calendar news, with USA investors appearing to take advantage of this impasse, by pushing up equity indices to close at record highs. The SPX closed up 0.72%, NASDAQ up
The U.K. begins official Brexit talks, Markit economics publishes Eurozone PMIs, Canada publishes key data The week starts with a bang on Monday as the U.K. Government finally begins its Brexit negations with its key European opponents, roughly one year (June 23rd 2016) after the UK’s referendum resulted in the vote to leave. The narrative
Dollar rises versus major peers, oil falls, gold slumps, U.S. equities slip, Europe’s markets fall back to April levels Based on the latest economic calendar releases published during Thursday’s trading sessions, it would appear that USA economic hard data has continued its divergence versus the overall recent performance of USA equity markets. The SPX has
FOMC announce interest rate rise, U.S. Dollar pares early trading session losses, oil slumps, DJIA closes up The key fundamental economic calendar event of the week, the FOMC (Fed) announcement regarding interest rates, went according to the economists’ forecast and in line with the forward guidance issued by the Fed over recent months; the main
