Macro observations After last week’s key monetary policy updates from the Bank of England and the US Federal Reserve, markets are now winding down before Christmas. Macro data of note is few and far between over the coming five days and could mean that this week’s foreign exchange movements are more reliant on geo-political and equity market…
The question many clients have asked their Accendo trader this week is, “How come the Dow Jones is so close to 20,000?” The most recent surge on the index, which has already been rallying at a phenomenal pace since Donald Trump was elected back in November, was due to the Financial sector’s positive reaction to the US Federal Reserve’s…
Last week I wrote about Banks and Miners. This this week I could easily do the same, both having moved handsomely again. But I’ll leave my colleague to discuss why. I’m more interested in a quartet of bullish breakouts within a sector that tends to get overlooked. Unfairly so in my opinion. Oft considered too defensive,…
Janet Yellen and the US Federal Reserves rate setting committee, the FOMC, unanimously chose to raise the base rate of interest yesterday for only the second time in a decade. The resultant market action saw the price of gold fall to fresh 10-month lows and has continued to fall further since the European market open…
15 Dec CityWire ‘Fresh Fed forecasts for three US rate hikes in 2017 was higher than consensus of just two, a number we had regarded as fair, with potential for an upgrade or downgrade mid-year without spooking investors,’ said Mike van Dulken, analyst at Accendo Markets. ‘Instead, we’re back to where we were this time last…
The standout performer on the UK 100 this morning is software company Micro Focus International after a shining set of expectation-beating results have seen it buck the overall market downtrend. A half year report that saw earnings shoot up by 22% and pre-tax profits increase by over 14%, just a matter of weeks after the company…