Based on the demand for safe haven assets, the Chinese lunar new year approaching and the ongoing cash ban turmoil in India, Gold has so far risen by circa 4% in 2017. Gold initially rallied to a seven week high on Thursday, as investors also rotated back into gold backed funds. The dollar declined (in […]
During the London trading session on Wednesday morning, there was a raft of publications from the UK’s official statistics bureau (the ONS) released, concerning the UK’s current economic performance. The markets and investors appeared to ignore the data on the: continual deteriorating balance of payments, balance of trade and visible trade balance, instead preferring to
The UK’s main index, the FTSE 100, has recently enjoyed its longest winning streak since 2011, printing record highs on each day. Although on closer inspection, it becomes apparent the rise is not necessarily performance driven. Due to the majority of the listed 100 companies being American, quite simply the plummeting pound (down circa 20%
The UK’s FTSE 100 index closes at record highs, whilst sterling takes a battering. Read More »
“And then I go and spoil it all by saying something like; “Brexit means Brexit”.” For any traders within our community, caught out by sterling’s sell off versus (just about any of) its currency peers, you deserve sympathy. The UK’s unelected prime minister Theresa May, opined on UK television on Sunday afternoon that a form
Gold traders appear to be bullish for 2017 according to a recent survey, as the dollar comes under pressure. Friday is “NFP day”, let’s be prepared. In a recently published Bloomberg survey the analysts questioned appeared to indicate confidence for gold to rise during 2017. There were several factors suggested as to why it’s safe
MORNING ROLL CALL: Friday is “NFP day”, let’s be prepared. Read More »
Certain European equity markets enjoyed a bounce during Tuesday’s trading sessions, primarily as a consequence of data emanating from Germany. Inflation beat expectations in Germany, beginning to threaten the 2% gauge the ECB considers as the target indicating that robust growth in the Eurozone is back on track. Moreover, should this inflation rate become the
In the Chinese year of the Fire Rooster, don’t be too cocky. London is still the major FX trading venue globally, therefore, with the UK’s holiday season extending to what’s termed a “bank holiday” on Monday, trading volume in FX and metals markets is likely to be significantly reduced throughout Monday’s normally two distinct trading
Recent Fed base rate rise hits USA trade gap as dollar rises. It’s less than a month since the USA Fed raised the base interest rate by 0.25% and so far the USA equity markets and the dollar have responded positively. Equities have consistently printed record highs, whilst the dollar has gained in strength, rewarding
USA equity markets in retreat mode, UK’s FTSE 100 closes at record high, the dollar rises, whilst sterling and the euro fall versus their major peers. During the New York trading session on Wednesday the main USA equity markets sold off sharply. The reasons put forward were many and various; trading is still circa thirty
Two key confidence measures were released in the USA on Tuesday. Firstly, the Case-Shiller index revealed that house prices in the USA rose by 5.1% on an annual basis. All 20 cities in the index showed a YoY gain, the highest gain reported was a 10.7 percent gain in Seattle, whilst New York had the
