European equity rally is bringing a few euro sellers out of the woodwork 29 June Funding currency correlation returns along with some Brexit fallout concern...
More German regional CPI readings 29 June yy-0.1% vs -0.2% prev Hesse mm -0.1% vs +0.4% prev yy 0.0% as prev Bavaria mm +0.1% vs +0.4% prev...
Spanish June CPI report 29 June 2016 yy -0.8% vs -0.9% exp vs -1.0% prev HICP flash mm +0.4% vs +0.3% exp vs +0.5% prev yy -0.9% vs -1.0% exp vs -1.1% Stronger than expected inflation data will be welcome news but still wobbly...
Saxony June CPI report 29 June 2016 yy+ 0.4% vs +0.1% prev ex-fuel/heating mm +0.1% yy +1.0% ex energy/seasonal foods mm+0.1% yy +1.4% Lower mm. Higher yy. First of the German regionals with whole of German CPI out at 12.00 GMT...
Positive tones following on from the futures market 29 June 2016 FTSE +1.4% DAX +1.2% CAC40 +1.2% FTMIB +1.6...
Positive session for Japanese equities 29 June 2016 +243.69 open 15523.35 high 15626.66 15398.31...
Your Economic Data/Events Calendar for today 29 June 2016 Sad news to greet me this morning, as if we needed reminding how fragile is this world of ours right now, and seemingly on a downward spiral. Busy data calendar ahead. As always I wish you a good session. Times GMT...
Apparently there is this little rainy island off the coast of France, and its currency (big round stones with a hole in it) has 'reserve status' Go figure...
Nordea says it's 30% Analysts from Nordea on scenarios after the Brexit referendum: In Q4 2016, the new prime minister triggers Article 50 of the EU Treaty by notifying the EU that the UK intends to leave. That opens a two-year window for negotiating a withdrawal agreement...
Further comments from the Chancellor We should move towards arrangement that provides the closest possible economic ties with our neighbours Urgency is required to establish new arrangements with EU There has been no disorder in financial markets Does not expect the situation to deteriorate but h...
The US has another crack at picking a number for its Q1 GDP at 12.30 GMT Despite closing off Q2 this week, the US is still trying to get Q1 data right. The last showing of 0.8% GDP is expected to rise to 1.0% in the final reading. Consumer spending stayed at 1...
The Fed has repeatedly been upbeat on consumers The US GDP Q1 final revision was slightly higher than expected but it raises fresh questions about future growth. Consumer spending was revised down to +1.5% from +1.9%. Economists had expected a boost to 2.0...
Details of the April 2016 US Case Shiller house price index report 28 June 2016 Prior 0.9% 5.4% vs 5.4% exp y/y. Prior 5.4%. Revised to 5.5% NSA 1.1% vs 0.9% prior m/m. Prior revised to 1.0% US HPI 5.03% vs 5.15% prior y/y. Revised to 5.11...
S&P 500 up 22 points to 2024 It's bounce day. Will the bears sell the bounce? One clue will come from the technicals. The S&P 500 is testing the May low of 2025. Whether that breaks and whether we close above it are critical...
June consumer confidence from The Conference Board Prior was 92.6 (revised to 92.4) Best since October 2015 The index jumped from the worst since July 2015 to the best since August 2015. Details...
Winners and losers of globalization at odds The dominant theme of the past three decades is globalization. It's meant open borders and open trade. The backlash is here. The Labour Left vs the Latte Left The wedge looks like it's immigration but it's really political correctness...
Dead cat or sustainable? I think there is far too much turmoil and uncertainty in the UK to sustain the bounce in European stock but it was party time today. UK FTSE +2.5% French CAC +2.5% German DAX +1.9...
Cable bounce fades All the gains since the start of London trading have evaporated and GBP/USD is now up just 60 pips on the day to 1.3284. The high was 1.3419. The level to watch is yesterday's US low of 1.3260. A break below would confirm that the minor uptrend since late yesterday is broken...
Firms uncertain about trade with Europe John Cridland, the Director-General of the Confederation of British Industry met with UK political leaders and his verdict was negative. He said he didn't come out of the meeting feeling great...
Draghi scoop from Bloomberg Bloomberg obtained Draghi comments from an EU Summit document. Sees GDP reduction for at least 3 years Concerned Brexit will lead to competitive devaluations It's time to address bank vulnerabilities...
