Opinion – Friday 16 November 2018

The Economist has described it as political chaos, a Scottish parliamentarian described Brexit as ‘’a step backward into the imagined past’’. Somebody else urged me to use ‘’Houston, we have a problem’’. Whatever the description you choose, it has been extremely...

Opinion – Thursday 15 November 2018

Yesterday saw wild fluctuations across all asset classes with markets wracked by uncertainty as to whether the UK Cabinet would endorse the 500-page Brexit Withdrawal Agreement stitched together the day before and whether UK Prime Minister Theresa May would imminently...

Opinion – Wednesday 14 November 2018

Sterling is the top G10 performer following news that the UK and EU have agreed on a provisional Brexit deal, but there are still lots of hurdles to overcome, UK Cabinet members now need to decide to back the deal or resign. Positive US-China sound bites have...

Opinion – Tuesday 13 November 2018

USD Indices have made new highs with Sterling and EUR leading the G10 declines amid increasing concerns Prime Minister May won’t be able to get her Brexit deal through Parliament while Italian budget uncertainty has also weighed on the Euro. US equities have started...

Opinion – Monday 12 November 2018

The (repeat) lessons from Friday is that the US Dollar cannot go down if the EUR and Sterling are not going up and that the USD goes up when risk sentiment goes down. Thus a give-back of much of the recent Brexit Withdrawal Agreement-related optimism on GBP, related...

Opinion – Friday 9 November 2018

The FOMC left Interest Rates on hold as expected with a statement only and only finessed. The market is still firmly priced for further rate hike next month. The US Dollar rose on this news with the EUR/USD closing near the lows of the day at 1.1360.  ECB President...

Opinion – Thursday 8 November 2018

For once the polls were right! The Republicans kept control of the Senate, actually increasing their majority by three, but the Democrats rested control of the House back from the GOP. At his press conference, as well as claiming credit for the economy’s performance,...

Opinion – Wednesday 7 November 2018

Market predictably quite with voting in the US mid-terms still underway as we wait for the first polls to emerge. The US Indices closed higher buoyed by reports that the Republican party where going keep control of both the House and the Senate. In FX GBP (up) and CAD...

Opinion – Tuesday 6 November 2018

It has been a relatively subdued past 24 hours in markets with focus in tech shares after Apple extended its Friday decline to over 8%.The USD is weaker across the board with Sterling the G10 outperformer while TRY and ZAR have led the gains in major Emerging Market...

Opinion – Monday 5 November 2018

Friday’s US Payrolls Report exceeded expectations only in respect of the headline Non-Farm Payrolls print (250k against 200k expected) with the Unemployment rate unchanged at 3.7% as expected thanks to a 0.2% rise in the about participation rate, while average hourly...

Opinion – Friday 2 November 2018

After making new highs early morning yesterday, the USD has been on a steady decline over the past 24 hours with a mix of factors at play. Brexit news has boosted the pound with a hawkish Bank of England also playing a supporting role and Wednesday’s  improvement in...

Opinion – Thursday 1 November 2018

On the last day of what has been an extraordinary month for volatility in equity markets, the Global Stock Indices have rallied in size, kicked off in Asia yesterday on hopes of a Trump-Xi trade ‘’great deal’’, and given a further push from a market looking for good...

Opinion – Wednesday 31 October 2018

USD Indices made new highs yesterday mostly reflecting weakness by European currencies supported by solid US Consumer Confidence and faltering EU GDP growth. European equities closed mixed and US equities bounced into the close. Against a backdrop of USD strength, AUD...

Opinion – Tuesday 30 October 2018

It has been an up and down session, marked initially by a good session in Europe, helped by a proposal out of China to cut its 50% car purchase tax, currently 10%, taking the tax to 5%, adding to the other stimulus measures announced by China in the wake of the US...