Macro observations Following the pivotal events last week for the US dollar, it’s time for Europe to take over. The greenback has sunk to fresh 10-month lows following the latest spate of weaker-than-expected macroeconomic data, but can the European Central Bank continue to take the gloss off the world’s reserve currency? On Thursday the Governing…
14 July Reuters UK “In Europe, we’re still not dealing with any higher interest rates, which should be benefiting the U.S. (banks) slightly in terms of net interest margin,” Mike van Dulken, head of research at Accendo Markets, said. “That said we’ve still got the supportive QE helping, but yields are still low, which…
This week the UK 100 broke back out of its 2-week sideways channel, giving bulls hope of a return to record highs. The index may only close the week 0.3% higher but blue-chip traders benefited from attractive share price moves of +/- 7%. As we write, the index has potential to see prior resistance turn…
With Alcoa giving up its coveted position as the curtain raiser for US earnings season earlier this year, it’s unsurprising who has swooped in to take pole position. Three US banking giants have swiftly cemented themselves as the opening act, preparing us perfectly for UK Banks’ own reporting season, beginning 27 July. Today’s figures from Citibank,…
Construction and support group Carillion (CLLN) shares are down another 18% this morning to 99p/100p having breached Q4 2002 support at 106p to trade levels not seen since late October 2000. After yesterday’s 39% drop, this takes the declines to 48% in less than two sessions. Investors (both those nursing losses and those circling for…
Macro observations Central Banks remain the key drivers of foreign exchange markets, with policymakers in both North America and Europe continuing their gradual turn towards a more hawkish standpoint. However, investors now have to decide who is in the strongest position to amend current accomodative policies. Has the Fed tinkered too much, too soon? Will…