Posted: 2008-07-23 10:49:24
The Dollar rallied sharply yesterday on hawkish comments from Paulson and Plosser… With little in the way of economic data yesterday comments from Treasury Secretary Paulson and Philly Fed President Plosser... Read more
Posted: 2008-07-21 10:38:57
Sterling starts the week on the back foot… The pound was in decline on Friday following a report in the FT that the UK Treasury is considering a change its fiscal... Read more
Posted: 2008-07-18 12:35:56
To grow or not to grow? Oil came off further yesterday at one point below $130 a barrel. Rather than being a reduction in demand for oil it seems more... Read more
Posted: 2008-07-16 10:49:00
The value of oil came off yesterday, at one point down by $10 a barrel after concerns were again expressed about the state of the US economy and that this... Read more
Posted: 2008-07-15 10:20:30
Another day another Dollar…(though the Dollar is worth a little less today than yesterday). Mr Bernanke will be talking today at his semi-annual monetary policy testimony before the Senate Banking Committee.... Read more
Posted: 2008-07-14 10:36:46
It looks like another wave of doom and gloom over in the States as the news that one of the largest mortgage lenders IndyMac Bank has failed. Greater concern as... Read more
Posted: 2008-07-11 10:43:35
This has been a very quiet week on exchange rates with the lack of stimulus causing little movement. There have been a few flurries in EUR/USD caused by oil prices... Read more
Posted: 2008-07-10 10:40:49
Little move again on exchange rates overnight, with EUR/USD continuing to be supported on the down side. It looks likely that the Euro will find buyers at 1.5680 which is... Read more
Posted: 2008-07-09 11:02:13
Once again, very little move in exchange rates overnight the only real point of note is the slightly firmer US Dollar on the back of lower oil prices which fell... Read more
Posted: 2008-07-08 11:30:58
We have seen very little move in rates overnight with the Far East happy to leave things approximately as they found them on opening. All the action yesterday centred around the... Read more
Posted: 2008-07-07 10:45:43
Following on from last weeks meeting of the ECB when Euro rates were raised by 25bp, the MPC are due to meet on Thursday. Expectations are for a hold in... Read more
Posted: 2008-07-03 09:25:34
With a raft of data and announcements due out today and the shortened week for the US, today could prove rather volatile. It has now been officially confirmed that the Dow... Read more
Posted: 2008-07-02 11:48:46
One Step Forward, Two Steps Back ….. The various Markets started down the road that is the second half of the year with some optimism but got hit by another almighty... Read more
Posted: 2008-06-30 15:25:50
All Eyes on Europe. This week the main focus of attention will be data released from Europe. The ECB has a rate decision on Thursday that may challenge the potential market... Read more
Posted: 2008-06-27 11:31:11
King Warns Against Silly Over-Reaction During his testimony to the Treasury Select Committee on Thursday, the Bank of England’s Governor Mervyn King guranteed that the MPC will not “overreact” to rising... Read more
Posted: 2008-06-24 12:18:46
MPC Hawk Argues Slower Growth Will Dampen Inflation Sterling fell against both the dollar and the euro on Monday subsequent to an interview which appeared in the morning press with Andrew... Read more
Posted: 2008-06-23 10:43:52
OPEC to Boost Oil Output but Little Impact on Prices Expected A summit held in Jeddah over the weekend which included representatives from all the major oil producing and consuming nations... Read more
Posted: 2008-06-20 13:19:08
Unforeseen Rise in UK Retail Sales Leads to Sterling Rebound A report released by the Office for National Statistics on Thursday showed a somewhat unexpected 3.5% rise in retail sales volumes... Read more
Posted: 2008-06-18 10:33:39
King Forced to Put Pen to Paper as Inflation Accelerates Higher The release of data by the Office for National Statistics (ONS) on Tuesday morning showed that inflation in the UK... Read more
Posted: 2008-06-17 13:24:29
Oil Reaches Another Record High Day Before CPI Released Inflation in the Eurozone during May was 3.7% according to figures released by the EU’s official statistical office yesterday, up from 3.3%... Read more
Posted: 2008-06-16 10:50:27
Inflation Remains Top of Central Banks Agenda. On Friday morning it was announced that inflation in Germany has accelerated more than initially reported back in May, caused mainly by... Read more
Posted: 2008-06-13 13:14:42
FTSE’s Four Day Losing Streak Broken. Strong US retail figures released yesterday provided some welcome news for the markets; suggesting that the US might possibly avoid slipping into recession. The reported... Read more
Posted: 2008-06-12 13:21:51
This morning Euro has weakened against the dollar on the back of ECB comments yesterday that multiple interest rate hikes are unlikely. In addition, InBev of Belgium’s pending acquisition of... Read more
Posted: 2008-06-09 10:29:32
Oil price conitnues to strengthen Global equity markets succumbed to a new sell-off at the end of last week amid jitters among investors over key economic releases and further oil price... Read more
Posted: 2008-06-05 10:43:03
Interest Rate Announcements are in the Spotlight Yesterday, the GBP continued to decline against the Euro and USD as the UK purchasing mangers’ index for the services firms unexpectedly fell.... Read more
Posted: 2008-06-04 10:19:30
The USD strengthened yesterday afternoon on comments made by Fed Chairman Ben Bernanke. Breaking with tradition and commenting on currency matters, typically the domain of the Treasury Secretary, Bernanke... Read more
Posted: 2008-06-03 10:55:25
UK Data Disappoints at Start of Busy Week Sterling saw its biggest one day fall in a month against the greenback yesterday following a poor start to the week for... Read more
Posted: 2008-05-30 14:25:14
UK Consumer Confidence at Lowest Level since the end of Thatcher U.K. consumer confidence dropped to the lowest level since Margaret Thatcher was ousted from office in 1990,... Read more
Posted: 2008-05-29 10:57:09
Inflation and oil the talk of the town Inflation and oil continue to be the main focus of the markets. Yesterday saw the USD gain across the board on the... Read more
Posted: 2008-05-28 11:20:31
ECB rate cut = “wishful thinking”? Prominent fears of stagflation (inflation and stagnation) appeared to contribute to the Sterling weakness against the US Dollar yesterday. Not helping the GBP was the... Read more
Posted: 2008-05-27 10:20:43
Good morning. Soros – We face the most serious recession of our lifetime George Soros, the phenomenally successful billionaire hedge fund manager, has said that “we face the most serious recession... Read more
Posted: 2008-05-23 11:05:56
Decline in UK Retail activity not as bad as forecast Yesterday’s retail sales from the UK showed a fall again from last month’s figures as faster inflation, lack of credit... Read more
Posted: 2008-05-22 11:47:10
Good morning. Minutes and Oil highlight Fed dilemma Congratulations to Man Utd and commiserations to Chelsea after a superb European Cup Final in Moscow last night. Another ‘close call’ at the... Read more
Posted: 2008-05-21 10:05:23
USD falls quicker than Didier Drogba The dollar fell to $1.5678 yesterday, the most in a month against the Euro as the price of oil rose above $129 for the... Read more
Posted: 2008-05-20 10:14:30
A quiet start to a busy week Yesterday was a relatively quiet start to the week, especially when you consider the importance of the Bank of England minutes and FOMC... Read more
Posted: 2008-05-19 13:22:21
Growth versus Inflation With both the US and UK economies under inflationary pressure, Central Bankers are faced with the task of stimulating growth without yielding to high inflation. Last weeks UK... Read more
Posted: 2008-05-16 10:16:24
Fairly quite day in terms of data today, only things due out today will be the US University of Michigan Confidence report out at 3:00 BST. A further decline is... Read more
Posted: 2008-05-15 09:57:26
Good morning. Sterling remains under pressure This British pound hit a 2.5 month intra-day low against the US dollar yesterday following the release of the UK employment rate and the Bank... Read more
Posted: 2008-05-14 15:50:45
Today at 10.30 a.m. we have the release of the Quarterly Inflation Report accompanied by the post release Question & Answer session. In a normal market the combined effects of downward... Read more
Posted: 2008-05-12 10:18:08
Focus on UK Inflation Report Last week we saw Sterling and Euro fall against the broadly stronger US Dollar and following the MPC and ECB meetings on Thursday, Sterling finished... Read more
Posted: 2008-05-09 10:25:53
Good Morning. Central Banks Keep Rates on Hold …. Oil surges to new record high Yesterday we saw the MPC decide to keep rates at 5% for a further month. Until we... Read more
Posted: 2008-05-08 10:08:03
Good morning. All eyes on the BOE and the ECB today…. The pound took a further bashing yesterday now reaching an 11 week low against the dollar. Sterling came under severe pressure... Read more
Posted: 2008-05-07 10:29:44
Good morning. More Pressure on the Pound Sterling extended losses on Tuesday, in a further indication of the tussle between a slowing UK economy and rising inflation. The Chartered Institute for Purchasing... Read more
Posted: 2008-05-06 11:29:21
What will the Central Banks do this week? This week we will have rate decisions from the Bank of England and the European Central Bank, both are deemed in the market... Read more
Posted: 2008-05-02 11:56:09
Good morning. Bank of England Provides Optimism There was positive news for the UK economy yesterday in the form of the Bank of England’s Financial Stability Report. The central bank believes... Read more
Posted: 2008-05-01 09:42:47
Fed May Take a Break The FOMC delivered the widely expected rate cut yesterday, reducing the Fed Funds rate by 25 basis points to 2%. The language used in the... Read more
Posted: 2008-04-29 10:04:17
Euro Inflation Take to the Stage Euro zone inflation took centre stage yesterday as Jean-Claude Trichet spoke at a conference in Vienna. The European Central Bank President made it clear... Read more
Posted: 2008-04-28 09:47:06
Growth v Inflation Continues There was further evidence on Friday of the difficulty that the Bank of England face over near term base rate decisions. UK Gross domestic product rose... Read more
Posted: 2008-04-25 09:46:46
US New-home sales plummet Whilst US home builders have slashed average house prices by record amounts we still saw new home sales plunge by 8.5% in the month of March... Read more
Posted: 2008-04-24 11:55:38
MPC minutes show three way split Minutes from the Bank of England’s monetary policy committee (MPC) were released yesterday, showing a three way decision split over the recent 25 basis... Read more
Posted: 2008-04-22 10:31:47
The Pound feels the heat As expected the Bank of England announced details of the £50bio plan to help stem the credit crisis. The Governor, Mervyn King said that the... Read more
Posted: 2008-04-21 10:13:25
Focus on the Bank of England this week The lack of Interbank lending is weighing heavily on the price of real money in the market place, as we continue to... Read more
Posted: 2008-04-18 10:22:10
The euro retreated slightly yesterday after euro group chairman Jean-Claude Juncker (also Luxembourg’s prime minister) warned that financial markets have misunderstood the G7’s position on currency volatility. The G7’s exact... Read more
Posted: 2008-04-17 09:44:42
Euro Inflation Continues To Rise The Euro continued its surge yesterday hitting record highs against the dollar and pound after Euro zone inflation rose to its highest level in 16... Read more
Posted: 2008-04-16 10:26:29
Bank of England Still Have Tough Balancing Act Although CPI Holds Steady The office for National Statistics yesterday reported that CPI, the headline inflation figure, remained unchanged at 2.5% against... Read more
Posted: 2008-04-15 09:32:18
Sterling remains in focus posting new highs against the euro first thing this morning. Against the dollar we have seen a retreat from gains yesterday to hover back at a... Read more
Posted: 2008-04-14 09:45:02
Markets Disregard Suggestion of G7 Intervention Welcome to the week… G7 financial heads warned against global currency volatility at the weekend meeting in Washington, raising thoughts of some form of joint... Read more
Posted: 2008-04-10 10:08:12
BoE rate cut - a done deal? The Bank of England is in the spot light today holding their 4th monetary meeting since beginning of this year. Although the market does... Read more
Posted: 2008-04-09 09:27:31
New GBP/EUR lows The GBP was hit hard yesterday after data revealed house prices fell sharply in March. Prices slumped 2.5% which is the biggest decline since the 1992 house... Read more
Posted: 2008-04-08 09:35:51
Sterling weaker following poor housing data… Sterling fell this morning, extending losses over the past week following poor UK housing figures, fuelling expectations the Bank of England will cut interest... Read more
Posted: 2008-04-07 10:07:59
When is a recession a recession?--> On Friday U.S employers cut payrolls for the third time in a row resulting in a decline of 80,000 jobs. Industries which showed the highest... Read more
Posted: 2008-04-04 09:31:11
Market awaits Non Farm Payrolls The wait is almost over. At 13:30 this afternoon the eyes of the industrialised world will focus on this month's Non-Farm Payrolls number. The hope is... Read more
Posted: 2008-04-03 10:48:09
Bernanke speaks With a market desperate for good news, Ben Bernanke’s testimony yesterday afternoon was closely watched for any glints of optimism in the US economy. Words matter and one word... Read more
Posted: 2008-04-02 12:39:02
Rally for GBP and USD Yesterday saw the USD and GBP rally back against the Euro. Figures showed a surprise drop in German retail sales, falling by 1.6% in February, market expectation... Read more
Posted: 2008-04-01 10:24:36
New Sterling Lows The Euro rose to a record high against Sterling after yesterday’s Eurozone inflation data came in stronger that expected. The headline figure of 3.5% in February was up... Read more
Posted: 2008-03-31 10:03:35
Will Bernanke Provide the Answers? The Euro continued its rally at the end of last week, hitting all time highs against GBP and the USD. Data released last week, particularly... Read more
Posted: 2008-03-28 12:00:00
Its not all doom and gloom opportunity with UK interest rates? Central banks are continuing to support the markets. Led by the UK and Switzerland both injected extra funds... Read more