After the major disappointment to investors of the FOMC minutes released this Wednesday, everyone was concerned with what could come from China overnight in terms of GDP data. If you were one of those brave souls (or just an insomniac!) waiting up until 2 am before going to bed, then you may have had a…
Overnight market action reflected the mixed data investors are getting on the state of the global economy. European markets ended firmly in negative territory while the DOW, after being down 112 points at one stage, rebounded to finish off 0.25%. Certainly there was some cause for renewed investor optimism withUS weekly jobless claims coming in lower than…
This week may have seen light news flow from Europe but it did not prevent a 1.4% loss in EURUSD in the last 4 days so far, hitting fresh 2-week lows. The core of the losses over the past 24 hours has been attributed to something we long warned about-The realization that Operation Twist from…
UK Corporate Announcements Experian announces total revenue growth of 14% at constant FX and sees high single digit organic growth in H1 Eros announces full year revenues of $206.5m from $164.6m up 25.5% and states that it remains well positioned Invensys holds its AGM today, which has been brought forward two weeks to avoid conflicting with the Olympics…
AIM listed Rockhopper has sold 60% of its Falklands Oil field to Premier Oil, the FTSE 100 giant. 700 million barrels of oil and counting is a lot of resources to have. Small wonder the Argentinian Govt has been sabre rattling in recent months of the territorial ownership. Whilst one could have made a lot…
Minutes from the last FOMC meeting held on June 19-20 were released yesterday. Investors, traders, spread betters, and all other market participants were desperately expecting the report to give some clues that QE3 is being cooked to be served up soon but it seems the FED is just kicking the can down the road (like…
Avocet Mining has certainly caused pain and consternation amongst their shareholders in revent week with the publication of surprise negative update on. Output guidance was down, cost guidance up and expansion plans in the air! The news was completely out of the blue which the market always punishes more severely than usual and does not…
The S&P 500 was virtually flat yesterday after rallying off intraday lows and shrugging off the FOMC minutes released earlier in the session. The notes of last month’s meeting revealed that the Fed remains reluctant to engage in further QE unless certain “hurdles” are met. Whilst a few members expressed their views that further policy stimulus was…
A stabilizing US trade deficit in May to $48.7 bn from $50.6 bn is always good news, but when both imports and exports show signs of a flattening (see chart below), making the connection to world growth becomes inevitable. Extending the analysis to commodities and equities, we note a close relationship between the rate of…
