US Update – May 28 – Data In line

EURUSD, H1 The -323,000 initial claims drop to 2.123 million in the fourth week of March extended the -241,000 decline to 2.446 million (was 2,438 million) in the BLS survey week, leaving a decline that was largely in line with assumptions. More importantly, we saw a -3.860 million plunge in continuing claims to 21.052 million, …

May 19 – UK Jobless Rises & German ZEW Preview

GBPUSD & EURGBP, H1 UK labour market data revealed a massive 856.5k spike in jobless claims in April, reflecting the impact of the lockdown, while the figures for March employment cover a period preceding the lockdown (which began on March 23rd in the UK), and showed the unemployment rate actually dipping, to a rate of …

Events to Look Out for Next Week

Welcome to our weekly agenda, our briefing of all the key financial events globally. The week ahead is expected to be dominated by the reopening of states and the easing of lockdown restrictions globally. Safety remains a draw even as the panic that gripped markets in March subsided in April — the path out of …

Facebook could be poised for a decline in ad sales

This will be a busy and important week in the US for data and earnings, but today’s slate is rather quiet with just CB Consumer Confidence. Earnings includes Facebook, Microsoft, Mastercard, Tesla, Qualcomm, Boeing and Ebay all in a single day . Hence as we are in the midst of Earning Season, the focus turns …

Events to Look Out for Next Week

In the US, weekly jobless claims will remain every week’s highlight. In Europe and the rest of the world, meanwhile, trade and manufacturing data, along with Inflation data, will be the most data-heavy releases. Lastly, European finance ministers meet again to discuss a way forward.  Monday – 20 April 2020 PBoC Interest Rate Decision (CNY, …

Events to Look Out For Next Week

All major countries across the world are effectively locked down now as virus developments remain in focus, with ever bigger aid packages. The data this week especially from the US were highly infected by the pandemic. Hence, as disruptions from COVID-19 have begun to catch up to the soft data measures, the impact will likely …

BOE lowers again and adds more QE

GBPUSD, H1 The BOE lowered rates to 0.10%. The BOE says it will increase holdings of government bonds (new QE). The vote was unanimous. It has been a traumatic first week for the new Governor Andrew Bailey. Cable leapt to 1.1650. Earlier the Pound posted a fresh 35-year low against the Dollar at 1.1451. The …

FX Update – March 9 – Risk Averse Rules

USDJPY, H1 The Yen surged by over 4% versus the commodity bloc currencies; massive intra-day movements by the standards of trading in the prevailing era as global markets slammed the risk-off button amid heightening panic about the global economic impact that the COVID-19 virus pandemic is having. Oil prices were hammered, diving by a staggering …

Events to Look out for Next Week

After the sell-off in global markets this week, markets will be closely monitoring the relative impact of the COVID-19 virus. Elsewhere, focus will be on the BoC and RBA meetings and Super Thursday but also UK-EU talks. Official talks on the deal regulating the future relationship between the UK and the EU will start next …

Events to Look Out For Next Week

Markets are restive on the rapid spread of the nCoV and its impact on the global economy, especially after reports that factories in China will remain closed into next week. Meanwhile, any announcement about the prospects for trade talks between the UK and US could come into the spotlight. These come alongside growth rate data …