28 Apr CityAM “Crude oil prices have bounced back from yesterday’s sharp sell-off (Brent >$52; WTI >$49), one that was driven by continued fears about rising US output following this week’s inventory data compounded by Libya bringing its largest oil field (Sharara) back on-line, merely adding to headwinds Opec already faces with its production cut…
Macro observations Foreign exchange markets have started the week with some gusto as we digest the French presidential election first round results. The pollsters have won some redemption from 2016’s nightmare as centrist independent candidate Emmanuel Macron and Marine Le Pen, the right wing leader of the National Front, won the highest and second-highest amount…
Bookending the UK Index this week are two stocks impacted heavily by a surprise snap election announcement by UK PM May. This sent GBP higher on hopes that a Conservative landslide will allow for a smoother and more orderly Brexit thanks to a bigger parliamentary majority and a better negotiating hand with Europe. It also…
While political events may have stolen the headlines this week, first quarter earnings season has moved up a gear in earnest, with a plethora of corporate results on both sides of the pond adding into the melting pot. However, we ain’t seen nothing yet. Things really get spicy next week as we have four of the UK’s…
21 Apr Armchair Trader Mike van Dulken commented – “A Macron (centrist) & Fillon (centre-right) win would likely be the most palatable for financial markets. A Le Pen (far right) & Mélenchon (far left) result would surely raise alarms. Markets look to be pricing in something between the two with Macron & Le Pen progressing…
Oil’s disproportionate influence on the UK’s flagship UK 100 , coupled with some fresh and unwelcome GBP strength overnight (bullish flag?), is holding the index back from a breakout and potential reversal from 2017 lows. This after oil prices plunged back close to April lows yesterday. The drop derives from official US Oil inventory data…