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POPSUK GBP Weaker Than Expected Despite a strong start in early trading, sterling dropped a full cent against the USD and other major currencies. Phil McHugh of Currencies Direct, reported that the Japenese Yen was the main mover yesterday, retreating against USD, GBP and the Euro.
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POPSMixed Data Leads to Mixed Markets The Federal Reserve Board staff expects the Central Bank's balance sheet to peak later this year and decline gradually from then on. Yesterday China revealed perhaps another part of the reason for strong asset markets. The country's M2 surged to a new record since data avail in 1999 of 28.5%, well above expected 26.7%, compared to an average in past years around 18% and their GDP this morning was also stronger than had been anticipated. China's economy gathered momentum in the 2nd Quarter of the year thanks to a continuation of the massive fiscal and monetary stimulus. Yesterday's UK jobs figures were, as reported during the rest of the day, horrendous. UK unemployment data rose to hit a 12 year high of 2.38 million in the three months to May, equivalent to 7.6% of the workforce. This bigger than expected jump is the largest rise we have seen since records began in 1971 and 2.4% higher than it was this time last year.
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POPSRisk Aversion Continues Equities ended largely softer on Friday and given the current economic outlook, appear set for another nervous week. Tomorrow we will look at GE, Intel and Goldmans and expect volatility in equity markets globally over the next few days. Read more...
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POPSAll Eyes on Bank of England Today Is expansion of the UK Quantative Easing program the way out of trouble for the UK economy or is it this practice, often described as 'printing money' storing up more fuel for the recessionary fire?
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POPSSterling Remains Under Pressure Sterling remains under pressure...Bank of England set to confirm increase in QE...Japanese concerned over strength of Yen... CRB index is down more than 12%...G8 leaders confirm recession is worst since World War II...read more at Currencies Direct and MarketClub Updates
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POPSUSD Weakens Ahead of the FOMC Meeting Looking at the markets this morning sterling has made good gains against the USD and recovered some ground on the euro. The lack of further equity losses being broadly sterling positive. Tonight we have the monthly meeting on interest rates in the US, the FOMC meeting is not expected to move interest rates but they will comment on their QE measures introduced.
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POPSEurozone on the Back Foot The good news for Germany but has not helped the euro gain as the market takes other data with a heavy pinch of salt given the weaker sentiment shrouding the euro-zone and Germany.
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POPSMixed Reports from the Eurozone Once again we don't really know where we are in very jittery markets. Mixed Reports from the Eurozone have investors in various markets watching the charts closely.
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POPSCurrency Market Updates - Mixed Data Leads to Range Trading The currency markets settled into range trading yesterday while sterling dipped sharply. In the US the pace of lay-offs has fallen while the Australian dollar gained against the Yen, US dollar and the pound. German producer prices came in as expected and EU leaders stated that further budget stimulus was not warranted at the present time. The Swiss Franc was a major gainer during the global slowdown and the SNB are proactively trying to maintain a leash on the strength of the Franc.
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POPSCaution is the Buzz Word Will the recession drag on or will it be shorter than previous predictions have led people to believe? My suspicion is it will be long and deep.
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POPSCurrency Market Updates The feel good factor returned to global trading with news from the UK government selling debt, better trading in US and AUD trading up.
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POPSMarket Uncertainty Continues Over the last week we have witnessed more snippets of economic good news being clouded by renewed weak data and economic uncertainty.
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POPSCurrency Market Updates Poor US retail figures and the Bank of England Chairman gloomy report led to more movement in the equity markets.
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POPSCurrency Market Updates It is no wonder that investors took the opportunity to lock in profits in these shaky times. Happily the small shoots of recovery are there, lets keep off the grass for a while!
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