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The British pound came under pressure in front of the vote on the Prime Minister’s Brexit withdrawal Agreement, which she has lost by a crushing 432 to 202 votes. Sterling is bouncing on this, on the view that the Labour opposition no confidence motion tabled after...
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Yesterday’s seemingly dire China December trade numbers cast a pall over risk market as well as AUD and NZD during Monday’s trading session, albeit AUD is back to 0.72 and the sell-off in European and US stock markets has been limited to +/-0.5%. Citibank kicked off...
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Following five up days in a row commencing on Friday 4th January, the US equity rally ran out of steam Friday, the main Indices all ending (just) in the red, albeit the NASDAQ is still showing a 5% year to date gain and the S&P500 is up over 3.5%. The VIX is...
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The US Stock Market reversed earlier gains after Fed Chair Powell said the Fed were determined to reduce their balance sheet. Subsequently the market rallied off these initial lows when he told the Economic Club in Washington that, “You should anticipate that...
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Favourable sentiment in regards to prospects for a Sino-US trade deal remain intact after talks ended yesterday following a third day of discussions. Though the official word from the Office of the US Trade Representative was fairly bland (a formal statement is...
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The US stock market rally has now extended to a third day, a tweet from US President Trump saying no more than ‘’talks with China are going very well’’ and news that the current discussions in Beijing have been extended into a third day, enough to keep risk sentiment...
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Trade talks in between Beijing resumed yesterday and included an unscheduled appearance by China’s Vice President Liu He, an act that further boosted sentiment towards a deal. Commerce Secretary Wilbur Ross later expressed optimism to CNBC that the U.S. can reach a...
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It would be easy to dismiss Friday’s US Payrolls Report as a backwards looking indicator. Certainly last Thursday’s Manufacturing ISM report -in particular the slump in the new orders sub-index- is a worry, revealing a clear linkage with the sharp slowdown in Chinese...
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Another big trading session for news and in markets, the fall-out from Apples’ revised Q1 revenue guidance, and a much weaker than expected US December Manufacturing ISM report, the key market drivers. Apple’s share price losses, running at 6-7% during the APAC...
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A further deterioration in risk sentiment during the European and then early-US sessions saw AUD/USD lose its already tenuous grip on the psychological 0.70 level in early New York trade, the pair’s first foray below 0.70 since 9th February 2016. Back then, AUD was in...
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There was a further advance by US stocks on Monday in thin trading, with trade hopes lifted following weekend comments from US President Donald Trump claiming ‘’big progress’’ was being made towards a deal between the US and China. The Dow rose 1.15%, while the Nasdaq...
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US stocks ended slightly lower on Friday in another choppy session, given thin trading, with the S&P 500 handing back over a percent of earlier gains in the last hour to close -0.12%. It still finished 2.86% up on the week, the first weekly gain for the Index in...
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An early-day bounce in US stocks following New York Fed’s John Williams CNBC interview (see below) proves to be of the (very) dead cat variety The S&P closes down 2.06% (-7% on the week, -9.6% YTD). DJIA -1.81% (-9.2% YTD). NASDAQ -2.99% and -8.3% YTD but -21.7%...
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It was another sea of red, the US main board indexes down in size again, led by the FAANG stocks though the market had tried to rally at 8.30 pm before selling off into the close on the worries over a US Government shutdown. The Eurostoxx600 Index declined by 1.45%,...
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