The USA consumer confidence survey dominates the economic calendar on Tuesday Market trading volume is expected to be relatively thin during the final few trading days of 2016, the UK’s holiday season is extended with a bank holiday on Tuesday, therefore the traditional London FX session may mirror previous holiday trading sessions; with volatility and […]
U.S.A. economy finishes the year with 3.5% annual GDP, as EUR/USD rebounds from its fourteen year low. The final USA GDP figure of the year was published on Thursday, revealing a 3.5% annualised growth rate during the three months which ended in September, compared with the analysts’ polled estimate of 3.2%. Household purchases; with consumer
The dollar recedes from its fourteen year high whilst USA home sales reach a nine year high Despite strong bullish economic news; with sales of previously owned U.S.A. homes defying analysts’ expectations by increasing in November to reach the highest level seen since 2007, the major U.S. equity indices failed to reach new record highs
The Dollar rises to a fourteen year high as the DJIA approaches 20,000 Despite trading volume in the SPX and DJIA being circa twenty percent lower than the thirty day average, USA equities rallied during Tuesday’s trading session as a consequence of investors buying into financial companies, in particular banking stock was highly sought. The
Italian bank problems resurface whilst Ukraine’s largest bank fails Monday was a relatively quite day in terms of scheduled high impact news event and data, which is to be expected as trading winds down towards the year’s end. However, there are several issues bubbling up under the surface in Europe that are causing grave concerns;
Will a Santa rally gain momentum and cause the DJIA breach 20,000? As mentioned in previous communications, the main USA equities indices have experienced the late end of year gains (the phenomenon known as the Santa Claus rally) during 26 of the past 31 years. However, given the late FOMC interest rate rise announced last
The Dollar reaches its highest level versus the euro since 2003 “The market can remain irrational longer than you can remain solvent”. Supposedly the English economist John Maynard Keynes said this after suffering losses on a series of highly leveraged trades. He was then “humbled” by the market, a euphemism for losing badly. And yes,
The Fed raises interest rates, indicates more raises to come in 2017 and raises hope that the USA economy will thrive Decision day arrived for the FOMC and the most widely predicted and communicated rate rise in years was finally announced; the rate is now 0.75%. The accompanying narrative indicated that Janet Yellen, chair of
If not now when? DJIA closes short of 20,000, as FOMC decision looms “The market” is betting that there is a 100% chance of a 0.25% base interest rate rise being announced tomorrow by the FOMC (Federal Open Market Committee), at the start of its two day conference. Thereafter, market makers, movers, investors and traders
Oil slips back during Monday’s trading sessions as the reality dawns; USA shale extraction can now increase Most analysts recognise the necessity for both OPEC and the non OPEC members to rigidly stick to a production cut deal, in order for the current price rise to be maintained. The fact that past agreements have been
