Last week I wrote about how a strong pound sterling was proving a hindrance for the UK Index and its many internationally exposed names (reminder). We are witnessing a similar drag on the index into this long weekend, GBP having embarked on another leg higher (bullish pennant?) versus the USD to trade its best since…
As we clock off for yet another Bank holiday weekend, this three-day break provides a fantastic opportunity for traders to take stock (no pun intended) of the week that was. The latest in a string of eventful trading weeks, we take a breather as we look forward to another jam-packed week ahead. Even if it is…
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…
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…