Today will see the release of a set of UK economic data for March at 09:30 BST, including manufacturing production, industrial production, and trade balance. This will be followed by the Bank of England’s (BoE) interest rate decision and monetary policy minutes at 12:00 BST and the NIESR GDP estimate (Feb to April) at 13:00…
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DAX futures (JUNE 2017 contract is FDXM7, continuation contract is FDXc1) The market continues to consolidate but with a bullish bias, but will this last? Recent sessions have once more been consolidating the breakout with the market moving into neutral mode. However the medium to longer term momentum signals remain strongly bullish and corrective moves…
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Market Overview Global markets remain cautious as traders continue to ponder the implications of the surprise firing of FBI Director Comey by President Trump. How does this impact on the prospects for Trump’s fiscal plans? Will the divisions and scepticism in Congress grow deeper, and how will it impact on Fed monetary policy? The moves…
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BackgroundAlthough yesterday's report acknowledged a bullish bias we were a little cautious. Overbought extremes did lead to a profit-taking reaction, but the setback failed to break through the 100-day moving average or even test Tuesday's Marabuzo line. By the close the limited setback had attracted fresh buyers and minor net gains were posted: four up days…
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BackgroundUS financial markets are priced at 83% probability for a June rate hike, based on the fed funds futures market, but for later dates the curve is still under the Federal Open Market Committee's “dot plot”. That could change quickly if Friday’s CPI update shows core inflation moving back above 2% after dipping in the…
Read moreGBP and EUR look set to continue their bullish runs against the flailing AUD, whilst AUDUSD may have run its course (for now) on the downside.
Read moreThere was no surprise in hearing RBNZ had decided to hold, yet traders had hoped for a slightly more hawkish statement, not the dovish one presented due to a pickup in CPI data. Summary of RBNZ's May 2017 monetary policy statement RBNZ left the Official Cash Rate (OCR) unchanged at 1.75 percent Core CPI…
Read moreThe British pound made a run for the $1.30 mark against its US counterpart today, before pulling back late in the session and some believe it may be difficult to break through this level. At 5.06pm (GMT) the British currency was trading at $1.2938, virtually unchanged from yesterday’s trading. The local currency has been on…
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The former Bundesbank president and acting chairman of UBS, Alex Weber, and German finance minister Wolfgang Schaeuble have in the past couple of days said they believe the European Central Bank will or should soon begin tapering its quantitative easing. They hinted that that could happen around September. With growth at some of the highest…
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