If the yield differential declines to 60-basis points you will be paying away less and therefore there is less incentive to hold the US dollar. During June the yield differential between the US 10-year yield and the German 10-year yield declined to 101 basis points from 117 basis points making it less attractive to hold…
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FTSE 100 gives up gains to post a flat week On Friday, the FTSE 100 fell 1.3%, giving up all of the gains it had edged out over the course of the week; most of which came on Monday and Thursday. With US markets closed, trading volume on Friday for FTSE 100 shares was down…
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What to watch Oracle: Software firm Oracle provides database and cloud services to businesses, and has been shifting its business towards a subscription model for years. Its share price is flat year-to-date, following a 24.7% rally over the past three months. The firm notched a significant recent win in April, when it won a cloud…
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From a technical point of view, Brent seems to have overextended this morning. Both the slow stochastic and Bollinger Bands print overbought signals. On the other hand, Bands have contracted quite sharply since the middle of last week, so it’s possible that price is building for a breakout upward. Moving averages continue to print a…
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Key data points Bold indicates the most important release for this symbol. Thursday 28 May, 12.30 GMT: Canadian current account (Q1) - consensus negative C$10 billion, previous negative C$8.76 billion Friday 29 May, 6.00 GMT: British annual national housing prices (May) - consensus 2.8%, previous 3.7% Friday 29 May, 12.30 GMT: Canadian annualised GDP growth…
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EUROPEAN SHARES European stocks opened slightly higher on Monday following a mixed trading session in Asia, particularly in Hong Kong where shares extended Friday’s losses amid mounting tensions with China. The return of violence in the region is seen as a new bearish factor for share markets as traders fear it could lead to deeper…
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Key data points Bold indicates the most important release for this symbol. Tuesday 19 May, 20.30 GMT: API crude oil stock change: previous 7.6 million Wednesday 20 May, 14.30 GMT: EIA crude oil stock change: previous negative 750,000 Friday 22 May, 17.00 GMT: Baker Hughes Oil Rig Count: previous 258 Euro-pound, daily The upside seems…
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UK stocks sink on GDP figures, US headlines Despite a Friday rally, London-listed stocks sank last week. In addition to the headlines and economic data out of the US, investors also got a view into the impact of the pandemic-induced lockdown on UK GDP, alongside March industrial and manufacturing production numbers. The UK economy shrank…
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EUROPEAN SHARES Despite a mixed trading session in Asia, EU share markets ticked higher on Monday as investors digested reassuring virus updates from Italy, France and the UK. Investors who were already betting on the recovery were pleased to see these three European countries registering their lowest death rates since March, ahead of lockdown easing…
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Investors also shrugged them off, with the FTSE 100 led higher by homebuilders. Taylor Wimpey, Barratt Developments and Persimmon were the top three performers in the index, all with daily gains of more than 8%. The surge was prompted by Taylor Wimpey announcing that its order book has grown, with recent cancellations accounting for less…
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