Fed keeps rates unchanged, stating no concerns over USA economy, U.S. dollar rises, gold slumps to monthly lows In a highly anticipated and forecast decision, the FOMC announced on Wednesday evening that interest rates would remain at 1.00%. In their accompanying statement, the various Fed bank members indicated their satisfaction with current economic performance, citing […]
Euro and sterling rise versus most peers, USA equities also rise, oil slides, precious metals end the day flat In a relatively quiet day for economic calendar news, Japanese composite and services PMIs (published in the Asian session), came in close to forecasts on Tuesday morning, whilst the Chinese Caixan manufacturing came in at 50.3,
Trump’s comments move USA equity markets, USA data misses forecasts, NASDAQ closes at record high Many global equity markets were closed for Mayday, also termed “labour day” throughout the world. It’s a solidarity celebration of workers (through union affiliation) finally achieving the eight hour week, after striking in the USA back in 1886. With no
Sterling rises, Aussie sells off, USA equities slip, as Trump’s intended tax cut program lacks detail. The USA equity markets appear to have already priced in the intended tax cuts which were finally revealed on Wednesday. As a consequence both the DJIA and SPX were near flat at the close on Wednesday, despite the SPX
Euro continues its French election momentum, USA equities surge, based on Trump’s tax cut promise, gold falls by one percent The USA technology based index the NASDAQ, breached the 6,000 level for the first time on Tuesday, closing the day up 0.70%, at 6,025. The DJIA closed up 1.12% and the SPX up 0.61%. The
French vote boosts global equity markets and euro, Trump tax cuts are back on the agenda, safe havens sell off Global investors breathed a collective sigh of relief, ushering in a classic relief rally across most markets, after the first round of France’s presidential election concluded on Sunday evening. Emmanuel Macron is now looking ‘odds
The French (first round) presidential election round result, the UK’s pending election, inflation and GDP data for leading economies, are likely to dominate FX markets this week The Euro enjoyed a relief rally, rising by circa 1.8% versus major peers in early trading, as the French presidential election polls now predict moderate candidate Macron to
USA equity markets spike up, due to Trump administration’s tax plans, euro gives back early gains, whilst yen falls Both the DJIA and SPX rose sharply on Thursday as a consequence of Treasury Secretary Mnuchin’s comments that tax reform is on its way, investors took this as code for a reduction in corporation tax, which
Sterling slips after election announcement surge, WTI oil collapses close to $50 a barrel, DJIA falls to a two month low In a relatively quiet day for economic calendar, high impact news relating to the USA, both the DJIA and the SPX indices sold off on Wednesday. There were no dramatic data misses published and
Sterling spikes up on news of UK election, USA equity markets slump as earnings of Goldman Sachs spook markets The UK’s FTSE slumped by circa 2.46% on Tuesday, due to the Tories announcing a general election on June 8th and in a negatively correlated move, currency speculators pushed up the value of sterling sharply versus
