Cable touches $1.35 as Conservatives win majority – but mind the risks on the horizon Yen disintegrates, stocks soar as US and China reportedly reach partial trade deal ECB provides little new; US retail sales the focus today Sterling flies as Conservatives secure big majority in Parliament The British pound exploded higher overnight, after exit polls for the UK election suggested that Boris Johnson’s Conservatives would win a strong majority in Parliament, something confirmed by the official results a few [..]
UK election firmly in the spotlight as voting begins – results early on Friday ECB meets today, though any major market reaction is unlikely Fed signals no rate cuts in 2020, but Powell still talks the dollar down Brits elect their new government – lopsided risks for pound? The day of political reckoning has finally arrived for the United Kingdom. The much-anticipated general election will be held today, and the result will decide what form Brexit takes, whether there’s a [..]
Fed to stay on hold today; dollar may get a mild boost if ‘dots’ show no cuts in 2020 Sterling retreats as model-based poll saps hopes for a Tory majority Risk aversion fades after reports Washington may postpone upcoming tariffs Fed on hold, all eyes on the new ‘dots’ The spotlight will fall on the Federal Reserve today, which will conclude its policy meeting at 19:00 GMT. After slashing rates at the last three meetings, policymakers are now expected to [..]
Greenback and stocks cheer after blockbuster jobs report, but yen tells a different story Loonie nosedives on weak employment data, despite higher oil prices Calendar is low key today, but week is packed: Fed, ECB, UK election, tariff decision Dollar shoots higher as nonfarm payrolls smash expectations It was all about the US employment data on Friday, which easily beat forecasts. Nonfarm payrolls clocked in at 266k, much higher than the expected 180k, with last month’s print also revised up. [..]
Spotlight falls on the US jobs report today; risks around dollar asymmetric Is European fiscal stimulus not a pipe dream after all? OPEC pledges deeper production cuts, but oil doesn’t ‘buy it’ In Britain, Boris Johnson debates Jeremy Corbyn for the final time Nonfarm payrolls: Mind the asymmetry The main event today will be the US employment report for November, due at 13:30 GMT. Forecasts point to another solid data set, with nonfarm payrolls (NFP) expected to clock in at [..]
Risk appetite returns on reports suggesting Trump was just posturing on trade Pound surges as election polls show Tories consolidating their lead Loonie climbs on less-dovish BoC signals, looks to OPEC meeting Optimistic trade headlines breathe life back into riskier assets US stock markets snapped a three-day losing spell on Wednesday, with the S&P 500 gaining 0.63% on the back of a report claiming that American and Chinese negotiators are “moving closer” to agreeing the amount of tariffs that would [..]
Trump expands trade war by imposing tariffs on South American metal imports Renewed trade frictions and unexpectedly weak ISM manufacturing PMI dampen sentiment Stocks turn negative; dollar plunge lifts euro Aussie jumps as RBA remains in wait-and-see mode; kiwi rallies too Trump ratchets up trade war by announcing tariffs on metal imports The long-running trade war took another twist yesterday after President Trump shocked markets by announcing tariffs on aluminium and steel imports from Brazil and Argentina. Citing the “massive [..]
Currencies trade in narrow ranges without news – pound retreats a little Euro area inflation data today may disappoint, spelling more pain for euro Is OPEC ‘managing’ market expectations ahead of next week’s meeting? British pound the sole mover in quiet markets It was a very uneventful session across financial markets, with little to speak of in terms of news and with most currencies trading in awfully tight ranges as American traders stayed home for Thanksgiving. A notable exception [..]
Solid US data dispel economic slowdown concerns, send dollar & stocks up Yet, optimism takes a hit after Trump signs Hong Kong bill, enraging China Sterling lifted by Yougov model projecting a clear Conservative victory Dollar and stocks climb on strong data, but China worries curb optimism Worries that the American economy may be headed for a recession took a breather yesterday, after the latest batch of US data beat forecasts, sending the dollar higher alongside Treasury yields as traders [..]
The US 30 stock index has repeatedly closed at new record highs in November, with the series of higher peaks and higher troughs on the daily chart confirming the resumption of the longer-term uptrend. The picture is positive across all timeframes – short, medium, and long-term – though the RSI is indicating that the latest pullback may continue in the immediate term. Having touched its 70 line, the RSI has turned lower, a sign that the bulls may be losing [..]
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