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Great Graphic: What are UK Equities Doing?

June 30, 2016
Some observers argue the media and some economists are exaggerating the impact of the UK vote a week ago.They talk about the petition for a second referendum. They about Scotland vetoing the decision to leave the EU.  They talk about the UK never invoking Article 50 and rehash all the ways the EU has subverted the popular in recent years.  
These d…
Great Graphic: What are UK Equities Doing? Great Graphic: What are UK Equities Doing? Reviewed by Marc Chandler on June 30, 2016 Rating: 5
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Another Strong Jobs Report may Not be Sufficient to Reignite Dollar Rally

May 01, 2016
The die is cast. The Federal Reserve is on an extended pause after the rate hike last December. The market remains convinced that the risk of a June hike are negligible (~ less than 12% chance).   The ECB has yet to implement the TLTRO and corporate bond purchase initiatives that were announced in March.  The impact of its programs have to be moni…
Another Strong Jobs Report may Not be Sufficient to Reignite Dollar Rally Another Strong Jobs Report may Not be Sufficient to Reignite Dollar Rally Reviewed by Marc Chandler on May 01, 2016 Rating: 5
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Anticipation of Osborne's Budget Weighs on Sterling

March 15, 2016
If UK Chancellor of the Exchequer Osborne wants to position himself to be the next Prime Minister, the budget to be unveiled tomorrow may not be particularly helpful.  There is little room to relax fiscal policy, given the self-imposed constraints.  
The deficit for the current fiscal year was projected to be GBP73.5 bln, but through January, the …
Anticipation of Osborne's Budget Weighs on Sterling Anticipation of Osborne's Budget Weighs on Sterling Reviewed by Marc Chandler on March 15, 2016 Rating: 5
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FX: A Return to Form?

January 14, 2014
After trying to  decipher the policy implications of the weak US jobs data, investors are attempting now to look past it.  In the currency markets, this has meant a return to the status quo ante, which was weaker yen and dollar-bloc currencies and stronger euro and sterling.  The euro rallied to test $1.37 and sterling neared $1.6450.  The dollar …
FX: A Return to Form? FX: A Return to Form? Reviewed by Marc Chandler on January 14, 2014 Rating: 5
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FX Drivers for the Week Ahead

January 12, 2014
At the risk of oversimplifying, there seems to be a single overriding driver of the global capital markets in the coming days.  It is how investors see the implications of last week's dismal jobs data.
In particular, many observers are suggesting that it raises doubts over the Fed's willingness to continue to pullback from its asset purch…
FX Drivers for the Week Ahead FX Drivers for the Week Ahead Reviewed by Marc Chandler on January 12, 2014 Rating: 5
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Sterling Pounded, Euro Resilient in Face of Dovish Draghi

January 10, 2014
The main development in the foreign exchange market, as participants await the US jobs data, has been the drop in sterling following the disappointing industrial output data.
Recall that in November, the UK's manufacturing PMI rose to a new 2-year high of 58.1 from 56.5. It had encouraged economists to look for a gain of around 0.4% in industr…
Sterling Pounded, Euro Resilient in Face of Dovish Draghi Sterling Pounded, Euro Resilient in Face of Dovish Draghi Reviewed by Marc Chandler on January 10, 2014 Rating: 5
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Three Things to Know Before Draghi's Press Conference

January 09, 2014
The main interest today is the ECB press conference. Neither the Bank of England nor the ECB are expected to act.  When the BOE does not move, it sees no need to discuss it, though minutes are later published.  The ECB does not publish minutes of its meetings (yet), but holds a press conference regardless of its action or inaction.   
Yet, barring …
Three Things to Know Before Draghi's Press Conference Three Things to Know Before Draghi's Press Conference Reviewed by Marc Chandler on January 09, 2014 Rating: 5
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2014 Outlook: Annus Not-So-Horribilis

December 24, 2013
Overview

US: The broad characteristics of the investment climate are unlikely to change very much in the first part of next year.The largest policy change is the  beginning of the long awaited slowing of the Federal Reserve’s long-term asset purchases.The process will likely be gradual and may take the better part of 2014 to come to a complete stop…
2014 Outlook: Annus Not-So-Horribilis 2014 Outlook: Annus Not-So-Horribilis Reviewed by Marc Chandler on December 24, 2013 Rating: 5
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