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…
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…
Since September, OPEC has been frantically trying to organise its first production cut deal since the financial crisis in order to combat the continuing crude oil downturn in a hope that the embattled industry can once more regain its economic prowess. Saudi Arabia, under the influence of Prince Mohammed bin Salmam al-Saud, has been a…
Macro observations Monetary policy is once again back in the driving seat for FX markets as we await updates from the US Federal Reserve and the Bank of England whilst continuing to digest last week’s European Central Bank’s “tapering-but-not-tapering” announcement. The headline event will take place across the Atlantic on Wednesday as the Federal Reserve’s Open…