- Theresa May’s future is in doubt as her gamble to strengthen her hand looks to have backfired with projections for a hung parliament.
- GBP fell around 200 pips on the release of the exit poll, while the latest forecasts from BBC seeing Conservatives at 318 seats (8 short of an absolute majority and 12 short from current) labour at 267.
- **Note that a working majority can be obtained with 321 seats given that the tspanee...
08 Jun 2017, 14:28
08 Jun 2017, 11:25
ECB Preview: Rate Decision due at 1245BST/0645CDT and Press Conference at 1330BST/0730CDT
- All rates and the current pace of asset purchases are expected to be left unchanged.
- The ECB is expected to tweak its forward guidance by categorising its growth risks as balanced. There is also a chance it may adjust guidance on rates and asset purchases.
- Staff will update macroeconomic projections; any shift in...
08 Jun 2017, 06:55
- Asian equities saw an indecisive session ahead of key risk events with notable data releases including Japanese GDP and Chinese Trade
- USD held onto the gains seen after Former FBI Director Comey’s prepared statement was deemed less detrimental than some had feared
- Looking ahead, highlights include ECB rate decision, UK election and Former FBI Director Comey’s...
07 Jun 2017, 07:00
- Asian equities saw little in the way of firm direction as participants remained weary ahead of a slew of upcoming key risk events
- AUD took focus overnight in FX markets following better than expected domestic Y/Y GDP data
- Looking ahead, highlights include Eurozone GDP and DoE Inventories
06 Jun 2017, 14:30
Why has a Snap Election been called?On April 18th PM Theresa May surprised many by calling for a snap election for June 8th . May stated that her reason in doing so was to “strengthen her hand in Brexit negotiations”. While at the time that the snap election had being called, the Conservative party had a commanding 20ppt lead in the opinion polls, an opportunity that may not occur again. As...
06 Jun 2017, 06:54
- AUD pared initial weakness after the RBA kept rates unchanged as expected while striking an overall neutral tone
- Asian equities traded mostly lower with underperformance in the ASX and the Nikkei 225 hampered by a firmer JPY
- Looking ahead, highlights include US APIs and the NZ GDT Index
05 Jun 2017, 06:55
- Middle east tensions see crude prices jump over 1% as several nations cut ties with Qatar.
- Subdued trade in Asia following Saturday’s terrorist attack in London.
- Looking ahead, highlights include UK Services PMI, US ISM Non-Manufacturing PMI and Factory Orders.
02 Jun 2017, 06:53
- Asian equities benefited from the increased risk-appetite after all tspanee major US indices posted record highs following strong data
- FX price action centered around JPY, with USD/JPY and JPY-crosses lifted as the heightened risk appetite spurred outflows from the safe-haven currency
- Looking ahead, highlights include US jobs report, Fed’s Harker and...
01 Jun 2017, 18:44
01 Jun 2017, 06:59
- Asian equities saw mixed performance with the Nikkei 225 supported by domestic data while soft Caixin PMI weighed on the Shanghai Comp.
- AUD underperformed due to soft Chinese data despite strong Australian numbers. Polls remain in focus for GBP
- Looking ahead, highlights include Eurozone and UK Mfg. PMI, ADP, ISM Mfg. PMI, DoEs and a slew of central bank...
31 May 2017, 06:54
- The latest YouGov has projected the UK Conservative party to fall 16 seats short of an overall majority with 310 seats
- Asian equities traded relatively mixed as China returned to market and was greeted by encouraging PMI data
- Looking ahead, highlights include Eurozone CPI, Canadian GDP, Chicago PMI, ECB’s Coeure, Lautenschlager, Fed’s...
30 May 2017, 07:04
- EUR saw pressure overnight amid reports Greece could opt out of their next payment if creditors fail to agree on debt relief
- Asian equities were relatively subdued overnight due to holiday-thinned trading conditions
- Looking ahead, highlights include German regional & national CPIs, US Personal Spending, PCE data
29 May 2017, 06:55
26 May 2017, 06:54
- Asian equities traded broadly softer with underperformance in the ASX amid OPEC-inspired softness in energy names
- GBP/USD trades softer as the Labour Party continues to gain ground on the Conservatives ahead of next month’s election
- Looking ahead, highlights include US Durable Goods, University of Michigan and ECB’s Coeure
25 May 2017, 07:19
- FOMC Minutes saw USD and treasury yields back up after the FOMC thought it was prudent to wait for further evidence that recent weak data was transitory before hiking again
- The subsequent upside in US equities filtered tspanough to Asia-Pac trade while WTI and Brent crude saw mild gains ahead of OPEC
- Looking ahead, highlights include UK GDP, OPEC Meeting, Fed’s Brainard and ECB’s...
24 May 2017, 20:02
24 May 2017, 06:54
- Asian bourses traded mixed with downside in Chinese indices after Moody’s downgraded China’s Sovereign rating
- UK PM May said UK terror tspaneat level has been raised to critical from severe, which suggests a further attack could be imminent
- Looking ahead, highlights include US Building Permits, Existing Home Sales, DoE Inventories, FOMC Minutes, BoC Rate Decision, ECB’s Praet and Draghi ...
23 May 2017, 06:55
- Asian equities traded with a mildly cautious tone amid reports of a terrorist incident in Manchester with macro newsflow otherwise light
- In FX, reports of the Manchester explosion triggered safe-haven flows into JPY with USD/JPY briefly falling below 111.00, while GBP/JPY was the notable underperformer
- Looking ahead, highlights include Eurozone PMIs, German IFO and a slew of central bank...
22 May 2017, 06:56
- Asian equities traded mostly higher despite ongoing geopolitical concerns with outperformance in the ASX amid upside in energy and material names
- GBP/USD slipped back below 1.3000 as PM May’s lead in the latest YouGov poll narrowed
- Looking ahead, highlights include Fed’s Kashkari and Harker
19 May 2017, 06:54
- Asian equities traded with little in the way of firm direction amid light newsflow after US stocks posted a modest rebound from Wednesday’s losses
- GBP staged another ‘flash crash’ falling around 100 pips in 12 seconds during US hours amid no new fundamental news
- Looking ahead, highlights include Canadian retail sales, ECB’s Praet, Coeure, Constancio and Fed’s...
18 May 2017, 06:55
- Asian equities took the lead from their US counterparts whereby sentiment was hampered by the ongoing political tensions in Washington
- Subsequently, the USD-index continued to drift lower while chances of a June Fed hike begin to recede
- Looking ahead, highlights include UK retail sales, Philadelphia manufacturing, Fed’s Bullard, Mester, ECB’s Mersch, Draghi and...
17 May 2017, 06:56
- Asian equities traded with caution after US equity futures saw pressure following the latest developments in the FBI saga
- JPY strengthened as the cautious tone triggered flows into safe-haven assets which saw USD/JPY break firmly below 113.00
- Looking ahead, highlights include the UK labour report, Eurozone CPI and the DoE Inventory report