The big event this week will be China which commences its 19th National Congress of the Communist Party on Wednesday. It is little surprise that the Shanghai stock market gave up early gains to close a fraction weaker. The initial rally was based on the expected strong CPI release (+1.6%), but was overshadowed by the […]
Today we saw Bitcoin (BTC) close and break through the 5000-dollar mark for the first time –BTC recovered fast from the recent downturn to 2800 level found mid-September, the issue I have is what is the long-term prospects with such a cryptocurrency. The questions we must ask is will Governments allow such a currency without […]
Mario Draghi, declared the intentions of the ECB were to keep rates low, well after the bond-buying program has ended. Draghi stated this was important to keep borrowing costs at bay and promote solid growth within the Eurozone. The EUR/USD rate, is still in the 1.18 region losing 20bps today. The big ECB rate decision […]
By reading the FED minutes, the officials outlined plans for a December rate hike as well a further 3 rate hikes next year. This was not a real surprise; the Fed funds estimate of 77% for a 25bp hike prior to minutes being released. The FOMC officials outlined they had deep concerns over the low […]
News today of the Catalan leader Carles Puigdemont putting a delay on this declaration of independence to try and have an amicable solution with the Spanish Government in Madrid. Pushed the EUR/USD rates up 0.54% to 1.18 on the day. Few other announcements around the world, the Swiss unemployment rates dropped from 3.2% to 3.1% […]
Generally a very quiet day in the markets, no real game changing events shocked the major markets today. German industrial production was announced with 2.6% MOM gain as opposed to a 0.7% forecast. ECB’s Lautenschlaeger did have a speech and hinted at scaling back asset repurchasing next year with the view to scrap the program […]
The end of a holiday week for markets in Asia. We have to wait until Monday to see mainland China, South Korea and Hong Kong’s reaction to the US NFP’s release and also the reaction to the turn of the US Dollar Index. Markets that were opened were seeing futures initial response trading firmer as […]
Key Shanghai Exchange and South Korean markets remain closed and was joined today by the Hang Seng market too. most of the focus centred upon Australia and the ASX and currency. Weaker than expected Sales data hit confidence and pushed the A$ through the recent 0.78 level to fall 1% on the day. With the […]
Even in Asia the markets appear to be lacking in commitment, despite price increases day after day. The Nikkei gave-up the mornings gains, but still managed a small uptick for the close. For the third day in a row, the Yen rejects playing for long with a 113 handle, reflecting continued uncertainty. That was not the case for the Hang […]
With core China market still closed, activity in Asia remains rather subdued. The trend is still constructive, following the steady US session but volumes continue low. The Nikkei closed up over 1% as currency drifts weaker and JGB’s are a touch softer. Hong Kong played catch-up and traded strong all day, closing over 2.25% firmer […]
