The conditions for a hike in May have been met so why wait? That’s what MUFG analyst Lee Hardman asked ahead of the March BoE meeting. Well fast forward to today and we know “why wait?”. The U.K. economy all but flatlined in Q1 (the worst quarter for growth since 2012) and subsequent data have betrayed more…
After witnessing volatile trades during the day, Indian share markets ended their session marginally lower. Losses were largely seen in the realty sector, power sector, and healthcare sector, while energy stocks ended the day higher. At the closing bell, the BSE Sensex stood lower by 73 points (down 0.2%) and the NSE Nifty closed lower by 25 points (down 0.2%). The BSE Mid Cap index ended the day…
The US dollar is consolidating in narrow trading against most of the major currencies as participants digest several developments ahead of what was expected to be the highlight today, the BOE meeting and US April CPI. The greenback’s consolidation is giving it a heavier bias against most of the major currencies. The recently strong upside momentum…
Emerging market currencies have been under fire in recent weeks, and with the impending U.S. sanctions against Iran, U.S. President Donald Trump may have just turned up the heat. Until recently, emerging market currencies had been enjoying a two-year rally. All this started changing in mid-April, when traders began dumping emerging market currencies steadily. According…
A Movie We Have Seen Before – Repatriation Effect? There was a sizable increase in the year-on-year growth rate of the true US money supply TMS-2 between February and March. Note that you would not notice this when looking at the official broad monetary aggregate M2, because the component of TMS-2 responsible for the jump…
US futures are flat, and European stocks are little changed after their longest winning streak since mid-March following a barrage of overnight news, including a dramatic escalation in fighting between Israel and Syria/Iran, a shocking election victory in Malaysia where opposition leader Mahathir Mohamad ended the six-decade rule of Najib Razak’s party sending more shockwaves…
Alstom (ALSMY) said it signed yesterday an agreement with General Electric (GE) relating to the implementation of the agreements from 2015 regarding the intended exit of Alstom from the three energy joint ventures. The “Renewables”, “Grid” and “Nuclear” joint ventures were set up in November 2015 as part of the sale of the Alstom…
Traditional Markets Two steps forward, one step back. We hope that the escalation are resolved quickly and peacefully. Indeed, according to IDF spokespeople, it will take the Quds months to recover from this. These images of three US prisoners coming home from North Korea is very reassuring indeed. Speaking yesterday, President Trump announced that a time and place for his…
Kiwi fell to its lowest in 2018 after Governor Orr statement, Short NZD/USD? RBNZ have left rates unchanged at 1.75% as expected. Even though New Zealand has seen solid global and domestic growth, with the economy operating around full potential, RBNZ have revised forecast for GDP and Inflation downwards. Three dovish statements have led us…
USD/JPY 4 hour The USD/JPY is in an uptrend channel and price has recently broken above the resistance trend line (dotted orange) but price is struggling to break above the previous top at 110. A bullish break above the previous high could indicate a continuation of the uptrend whereas a failure to break above the…
