Archive for February, 2012

The US dollar pushed higher whilst equities retreated, alongside metals, as Bernanke gave a nod to inflation, departing from his last 3 speeches where he accentuated the extension of extremely low interest rates into 2014. The Fed Chairman acknowledged rising gasoline prices, which he described as “primarily reflecting higher global oil prices –...
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Financials are biggest faller, despite HSBC result European markets slip back on disappointment around latest G20 summit JPY biggest gainer (looks set to post best day in over a month) European spread trading markets slipped back yesterday as markets reacted with disappointment to the weekend outcome of the latest G20 summit. Concerns about rising oil prices acting...
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Monday’s market action has been for the most part driven by earnings, and it’s mainly the banking sector that is leading the weakness in European indices today. HSBC reaffirmed its status as market leader, posting profits of £13.8bn for 2011 and providing evidence that emerging markets were a main contributor to its performance. At time...
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Spread trading markets edged higher yesterday as encouraging signs on the global economy helped to put the on-going concerns around Europe onto the back foot. Minutes from the BoE yesterday showed that two members voted for a £75bn injection of QE, instead of the £50bn passed, causing speculation for yet further QE later in...
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There is still no sign of the US dollar being able to decouple from its relationship with global asset markets and equity indices. Pro-growth economic data send stocks higher and the USD lower, not just on a day-to-day basis, but also with a very high intra-day correlation. As the S&P 500 and European stock index...
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Markets will be influenced largely by developments in Europe to start the week, however President’s day in the US could be mean a quiet start. Ongoing US data continues to finish above expectations as shown by the latest gains in retail sales, manufacturing surveys, jobless claims and industrial production. The overall recovery is gaining...
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Sterling covered a two-cent range that included multiple changes of direction, a couple of them quite urgent. In the end, though, investors could find no reason to send it one way or the other. The pound opened in London on Monday unchanged from last week. There were precisely three Australian statistics to guide FX spread...
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The unemployment figures out today reflected the continuing tough business conditions in the UK. If anything, business confidence has seen a sharp decline in the last few months. Jobless claims rose by far more than expected. The spread trading market was factoring in a rise of 3,000 whereas the actual increase, released this morning,...
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After doing well in the second half of January, the euro ran out of traction at the turn of the month. It fell to the bottom of the weekly league table, where it kept company with the Swiss franc. It was not that spread trading investors had lost patience with the floundering negotiations that were...
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The Loonie did better than sterling over the week, with GBP/CAD falling to the tune of half a cent. Had it not been for the sharp move on Friday, the boot would have been on the other foot. The Canadian dollar made no real attempt to shine. The economy shrank slightly in November after stagnating...
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