Morning Roll Call

The ADP private payroll data from the USA came in ahead of expectations on Wednesday at 238K jobs created in December, with an anticipation of 199K. This print is adding to belief that the NFP number, to be printed this Friday, will also ‘surprise’ the market with a better than forecast print. The anticipation is […]

The DJIA pushed back through the critical 16500 handle on Tuesday as a much better than anticipated balance of payments print for the USA cheered American investors. The market was expecting a print of circa $40 billion as a deficit, but the figure came in at $34.3 billion and looking at historical precedents it’s a

Two economic indices for the USA came in below expectations leading to a muted session on Wall St. with the main indices selling off moderately. The ISM non-manufacturing print came in at 53, whilst the Markit services PMI came in at 55.7. These poor prints also partly led to a selloff in the USD for

Thursday saw the main indices and the FX market spark into life after the holiday break. Many European markets sold off considerably in the USA afternoon session, despite the promising PMIs published by Markit Economics in the morning session, then followed by a promising USA manufacturing PMI. Similarly the selloff continued in the USA session

The exiting bailout stories are scheduled to come thick and fast in 2014. The much heralded ‘poster boy’ for good austerity behaviour, Ireland, exited in late 2013. But despite the muted celebrations very little has changed visibly in the country’s economy. Unemployment is still incredibly high (in terms of European standards), whilst approximately 400K of

In a relatively quiet trading day, due to many European bourses being closed for a bank holiday, the main high impact news focused on the weekly unemployment claims from the USA. The data came in much better than excepted, however, the previous week’s upward revisions took the shine off the data, as did the rolling

The markets in the USA and Europe closed for Xmas in bullish mood as key data from the USA pointed to increased and improved economic performance. House prices in the USA rose 0.5% in the month according to one house price survey. Durable goods orders in the USA closed up 3.5%, ahead of forecasts of

In a relatively quiet day in terms of high impact news the main equity markets continued their journey north on Monday on the basis of slightly higher retail and other consumption figures from the USA and an improved sentiment publication courtesy of the University of Michigan. Canada’s GDP rose 0.3% in October, in the USA

After the excitement of the unexpected taper decision from the FOMC on Wednesday European markets, which had already closed as the decision was revealed, immediately rallied on open to reach an ‘equilibrium’ with the USA bourses. The USA markets were mainly flat in the afternoon session as the medium to high impact news events provided