Morning Roll Call

Banking stress tests reveal Slovenia’s banks need a re-capitalisation programme, Europe’s industrial production falls, whilst USA unemployment figures disappointing

Morning Roll Call

In an echo of season’s past a relatively small European country, Slovenia, revealed that several of its banks require approx. €5 billion in order to pass the E.U. banking stress tests. This situation has a familiar theme to it, it’s reminiscent of the trouble Greek banks found themselves in during 2011. However, the relatively small […]

Banking stress tests reveal Slovenia’s banks need a re-capitalisation programme, Europe’s industrial production falls, whilst USA unemployment figures disappointing Read More »

Main USA markets sell off due to monetary easing taper rumours whilst Greek unemployment rises to 27.4%

Morning Roll Call

The DJIA and other main USA indices suffered quite a significant sell off during the later stages of the New York session on Wednesday due to the (you’ve guessed it) rumours of the infamous taper arriving sooner rather than later. And the ripple-effect was also felt through the FX industry. Many analysts and therefore investors

Main USA markets sell off due to monetary easing taper rumours whilst Greek unemployment rises to 27.4% Read More »

Volcker rule comes of age, E.U. banking union begins to take shape as Christine Lagarde defies the notion of a “jobless recovery”

Morning Roll Call

In a relatively quiet day for high impact news events on Tuesday, potential fundamental policy decisions took centre stage. There were two banking regulation news events that flew under the radar and failed to ignite the interest of the mainstream financial press; namely the Volcker rule finally coming into being and the start of the

Volcker rule comes of age, E.U. banking union begins to take shape as Christine Lagarde defies the notion of a “jobless recovery” Read More »

Greece experiencing record levels of deflation, Germany’s industrial output in surprise fall again, China’s yuan reaches twenty year high as the loonie falls to a 3 year low

Morning Roll Call

Despite Monday being a relatively quiet day on Wall Street there were plenty of high impact news events published and the customary chatter regarding monetary easing took centre stage, on both sides of the Atlantic, providing one of the major debating points of the day… Greece now appears to be locked in a deflationary economic

Greece experiencing record levels of deflation, Germany’s industrial output in surprise fall again, China’s yuan reaches twenty year high as the loonie falls to a 3 year low Read More »

ADP jobs report beats expectations with very bullish print, Canada maintains base rate at 1%, whilst USA trade gap shrinks on record exports figure

Morning Roll Call

The USA ADP jobs report, that traditionally precedes the NFP data delivered on the next Friday (this Friday), came in well ahead of the expectations from the economists polled. At 215K it was circa 30K better than expectations, whilst the previous month’s figure was revised up to 185K jobs created. Eyes will now turn to

ADP jobs report beats expectations with very bullish print, Canada maintains base rate at 1%, whilst USA trade gap shrinks on record exports figure Read More »

WTI oil rises steeply on strong auto sales in USA as consumer confidence also rises, whilst Detroit stays in bankruptcy

Morning Roll Call

Powered by Black Friday sales promotions and rising incentives, USA auto sales hit a fresh yearly high in November, reaching an unexpectedly high annual selling rate of 16.4 million units. Dealers offered many incentives, some indirectly backed by government initiatives, and finance terms of up to nine years on some models. Auto sales in the

WTI oil rises steeply on strong auto sales in USA as consumer confidence also rises, whilst Detroit stays in bankruptcy Read More »

Markit economics suggest that UK manufacturing reached a 19 year high in November, as the USA PMI jumps to the highest level since January

Morning Roll Call

It’s becoming increasingly tricky to know how to fairly and dispassionately judge the various sentiment surveys from Markit economics. On Monday they suggested that the UK’s manufacturing orders have reached a 19 year high and that the manufacturers in the UK are employing an extra 5,000 each month. As a consequence analysts in the UK

Markit economics suggest that UK manufacturing reached a 19 year high in November, as the USA PMI jumps to the highest level since January Read More »

UK BoE governor stuns UK banks by redirecting the funding for lending scheme

Morning Roll Call

Thursday was a relatively quiet day for the markets due to the closure of the USA markets for the thanksgiving holiday. However, one of the most illuminating events of the day concerned the governor of the Bank of England Mark Carney. His decision, that the funding for lending programme which banks in the UK have

UK BoE governor stuns UK banks by redirecting the funding for lending scheme Read More »

USA unemployment claims fall by 10,000 in a month, as durable orders falls significantly in the month of October

Morning Roll Call

There was mixed economic news from the USA on Wednesday, the Conference Board index improved by 0.2%, short of expectations and less than the previous 0.9% increase for the month of September. Crude oil supplies rose, the USA weekly unemployment claims fell sharply; down to 316K down circa 10,000 from the previous week. However, durable

USA unemployment claims fall by 10,000 in a month, as durable orders falls significantly in the month of October Read More »