Perhaps, news about the probable postponement of the Parliament vote over Plan B was a headline story of yesterday. Recall that on Wednesday, the twenty-seventh of February the vote over the new plan is to take place. But yesterday Theresa May said that there would be no vote by the designated date. The motive is that the negotiations are still in progress and...
Yesterday has been an intense day with a variety of macroeconomic statistics. Europe has traditionally been a disappointment. For example, the Index of business activity in the manufacturing sector in Germany decreased to 47.6 (export orders fell to the maximum value over the past six years). However, it wasn’t all hopelessly bad: the Eurozone composite PMI index...
Yesterday was as well rich at the events. News about the pressure of the United States on China in order to force the Celestial Empire to use the devaluation of the yuan as a tool for obtaining an advantage for its exporters was the most interesting for the foreign exchange market. As a result, the yuan has been strengthened. But everybody continues waiting for a...
Unlike Monday, yesterday was much more exciting and intense. Let’s start with the labor market statistics of the UK, which came out considerably well. Take a look at least at the figures on employment: +167,000 with the forecast of +151,000. Other indicators (unemployment, average wages) were released within the estimates. This created a foundation for the growth...
The day-off in the USA and Canada yesterday drove to a pretty boring American session, well, generally, Monday has not been a remarkable day in terms of price dynamics. Although we can’t say that there were no interesting events at all, so let’s talk about the most exciting ones and the last news as well. The meeting between representatives of the US and China...
The past week has not resolved the main issues of concern to the markets. The negotiations process between the USA and China continues, and there is no finish line yet. Brexit continues to be on the same page yet despite that the time is running out. It seems the matter of funding the wall in the USA is getting worse: the shutdown was avoided, but Trump has...
Before talking about the market’s sentiments at the end of the week, let’s analyze yesterday’s events. Let’s say that the main surprise for statistics data became external trade numbers of China. Chinese export has literally soared by 9.1% (analysts had expected a decline of 3.2%). What does it mean? That it is too soon to write the engine of the world economy...
Yesterday was quite rich from macroeconomic statistics. Europe, as already usual, disappointed. Industrial production in December decreased by 0.9%, that is, it turned out to be more than 2 (!) times worse than forecasts (analysts expected a decrease of only 0.4%). In general, if we match it with the data of last year, the drop was the maximum since 2009 (!). So...
Yesterday the particulars of a tentative agreement between Democrats and Republicans were known. Parliamentarians agreed to allocate $1.375 billion for building a wall. It is now up to Trump and he has some difficulties with this because he needs $5.7 billion for this aim. So the dollar buyers have to stay focus anyway. Our position is unchanged so far - continue...
Yesterday can be called a crash day for the pound if one looks at macroeconomic statistics. Everything was literally pretty bad. Industrial production fell (-0.5% m/m - with a forecast of +0.1% m/m), construction decreased (-2.8% m/m with a forecast of +0.1% m/m), the trade balance worsened (-3.229 billion pounds with a forecast -3.000 billion pounds), as well as...
Last week was not marked with anything fundamentally new. The most sensational event for the foreign exchange market became a change of the vector of monetary policy in Australia from the potential tightening to the neutral. The Bank of England has remained parameters of the monetary policy unchanged, however, it substantially lowered the forecasts of the economic...
The highlight event of yesterday became an announcement of the Bank of England meeting. The rate and other parameters of monetary policy were predictable upheld. The forecasts of the Central Bank about the UK economy shape were pressuring the pound, which has been dismal (particularly the Bank of England has curtailed the forecast for GDP growth for 2019 to 1.2%...
The highlight event of yesterday in foreign exchange market, which took most of traders and analytics by surprise (we’ve been caught as well, but in defense we note that the Australian dollar mainly is under our radar) became an announcement of the Governor of the Reserve Bank of Australia, Philip Lowe, that the Central Bank is moving to a neutral position in...
As far as macroeconomic statistics, yesterday was almost like Monday: once again weak data from the Eurozone, and unconvincing statistics from the UK. Retail sales in the Eurozone fell by 1.6% (however, this was in line with forecasts), PMI in the service sector came out below forecasts, and the equivalent figure in France was at all below 50, that is, signaling a...
Monday, as expected, has been a quite calm fundamentally. However, there was some news, so let’s talk about it. The Eurozone has traditionally been marked by weak economic data. In particular, Sentix Investor Confidence Index in February was -3.7 with the forecast of -1.3 and the value for the previous period at the level of -1.5. The United Kingdom also...
Last week turned out to be not very prosperous for the dollar. The reason was the Fed attitude. The Central Bank has put the interest rate on hold and demonstrated quite a dovish sentiments in general. Even excellent NFP figures did not help the dollar (+304K with a prediction in +165K, and recall we were expected even worse numbers). The thing is, that statistics...
Yesterday was quite mixed for the foreign exchange market. In the beginning, the dollar was under severe pressure. The reason is apparent - outcomes of the last Fed meeting. However, the second part of the day was already scripted by the dollar. Today we are quite negative about the dollar. The reason is the publication of statistics on the US labor market....
Yesterday was exceptionally rich in terms of macroeconomic statistics. Let’s go over the foremost data. The Eurozone once again shocked euro buyers with weak economic data, according to which consumer confidence decreases, as well as the business climate and economic confidence in general. However, the euro has already accustomed to weak statistics from the...