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James Knightley, Senior Economist at ING, suggests that a surprise drop in US confidence may mean rising gasoline prices and unsettling politics is offsetting the benefits from a robust jobs market and the equity market rebound. “University of Michigan confidence fell in March to 90.0 from 91...
Analytics & Forecasts
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Vasilii Apostolidi, 21 March 2016, 12:40
Australian Dollar Off Early Lows Against Most Majors The Australian dollar came off from its early lows against most major counterparts in European trading on Monday. The aussie recovered to 0.7626 against the greenback and 85.07 against the yen, off early 4-day low of 0...
Currency
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Roberto Jacobs, 21 March 2016, 12:38
Research Team at BBH, notes that the US economy is not only averting a recession, but growth accelerated in Q1. “The markets exaggerated the risk of a US recession. The US reports its third estimate of Q4 GDP. It is too historical to matter much, and whether it is 1...
Analytics & Forecasts
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Vasilii Apostolidi, 21 March 2016, 12:36
Jane Foley, Senior FX Strategist at Rabobank, lists down the key economic releases for the week. “Existing home sales for February are the only key data US release today, though the week will also bring PMI releases in addition to weekly initial claims and durables goods numbers...
Analytics & Forecasts
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Vasilii Apostolidi, 21 March 2016, 12:35
Croatia Retail Sales Fall For First Time In 5 Months Croatia's retail sales decreased at the start of the year, after rising in the previous four months, figures from the Croatian Bureau of Statistics showed Monday. Retail sales volume dropped a seasonally and working-day-adjusted 0...
Market News
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Roberto Jacobs, 21 March 2016, 12:34
UK: Politics is Going to be More Important than Economics - SocGen Kit Juckes, Research Analyst at Societe Generale, suggests that the politics is going to be more important than economics for the next three months in the UK and so far, both major political parties seem pretty keen on tearing the...
Market News
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Roberto Jacobs, 21 March 2016, 12:31
Research Team at BBH, suggests that the BOJ's move to negative rates at the end of January has been the only policy surprise among the major central banks this year...
Analytics & Forecasts
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Vasilii Apostolidi, 21 March 2016, 12:28
WTI is pivoting on $39.0 for now, but near term stability seems to be enough to send USD/CAD lower again, with the pair now hovering above 1.3000, though support noted through the figure, which will only really be tested if risk sentiment turns again...
Analytics & Forecasts
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Vasilii Apostolidi, 21 March 2016, 12:18
Australian Stock Exchange CEO Quits Amid Bribe Investigation The head of Australia's main stock exchange resigned on Monday amid an investigation into allegations that a gaming firm he once ran made a bribery payment several years ago to the family of Cambodia's prime minister...
Market News
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Roberto Jacobs, 21 March 2016, 12:17
Lee Hardman, Currency Analyst at MUFG, notes that the US dollar has continued to remain on a softer footing in the Asian trading session following the signal from the Fed last week that it plans to raise rates more gradually this year...
Analytics & Forecasts
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Vasilii Apostolidi, 21 March 2016, 12:13
Kit Juckes, Research Analyst at Societe Generale, suggests that in the US, we get the Chicago Fed index and existing homes sales data today, durable goods orders Thursday, and politics all week...
Analytics & Forecasts
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Vasilii Apostolidi, 21 March 2016, 12:11
Asian Stocks Gain as Shanghai Composite Jumps to Two-Month High Asian stocks rallied in late trading, with a regional gauge erasing declines, as Chinese shares climbed above the 3,000 level for the first time since January after policy makers loosened controls on margin lending...
Market News
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Roberto Jacobs, 21 March 2016, 12:10
Research Team at BBH, suggests that after a horrific start of the year, the global capital markets have recovered in recent weeks. “The year started off poorly, to say the least. Equity markets plunged from the get-go...
Analytics & Forecasts
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Vasilii Apostolidi, 21 March 2016, 12:10
The research team at UOB Group remains bullish on the Aussie dollar in the next 1-3 weeks. “We reestablished our bullish AUD view last Friday and there is no change to the outlook. As long as 0.7520 is intact, we believe the current AUD strength could extend higher to 0.7740”...
Analytics & Forecasts
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Vasilii Apostolidi, 21 March 2016, 12:08
In opinion of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the Aussie dollar could retreat towards the 0.7520/0.7415 area. “AUD/USD’s move higher last week reached the 61.8% retracement at 0...
Analytics & Forecasts
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Vasilii Apostolidi, 21 March 2016, 12:05
Yen Slides Against Most Majors Reversing direction, the Japanese yen slipped against its most major rivals in early European deals on Monday. The yen edged down to 75.75 against the kiwi, 115.02 against the franc and 85.60 against the loonie, off early 5-day high of 75.13, 4-day highs of 114...
Analytics & Forecasts
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Roberto Jacobs, 21 March 2016, 12:03
Last week, we reported on the ECB’s decision to cut the interest rates and how Mario Draghi said ‘helicopter money’ is ‘an interesting concept that is being studied’...
Analytics & Forecasts
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Vasilii Apostolidi, 21 March 2016, 12:02 #gold
Italy Current Account Deficit Narrows In January Italy's current account deficit decreased slightly in January from a year ago, figures from the Bank of Italy showed Monday. The current account deficit narrowed to EUR 1.07 billion in January from EUR 1...
Market News
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Roberto Jacobs, 21 March 2016, 12:00
Brexit Could Cost UK £100bn – Investec Research Team at Investec, notes that the report commissioned by the CBI and carried out by accountancy firm PwC, warns a Brexit could potentially cost the country £100bn and nearly one million jobs by 2020...
Market News
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Roberto Jacobs, 21 March 2016, 11:55
Kit Juckes, Research Analyst at Societe Generale, suggests that the Chinese authorities are cheering slower capital outflows, warning of excessive corporate debt and talking of an economy that is getting back on track. “The MNI measure of business confidence, however, remained at 49.9...
Analytics & Forecasts
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Vasilii Apostolidi, 21 March 2016, 11:53