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Sherif Hasan
Published post UK CBI director-general offers sour verdict after meeting politicians
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...
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Sherif Hasan
Published post Draghi said to see Brexit vote cutting Eurozone GDP by as much as 0.5 pp
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...
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Sherif Hasan
Published post Conservative leadership vote may be as tightly contested as Brexit vote
Boris Johnson vs Theresa May A poll, which looks like an online survey, was released from UK website ConservativeHome today and showed a slight lead for Theresa May over Boris Johnson. It's not clear who will be in the race yet ahead of tomorrow's deadline...
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Sherif Hasan
Published post Cable retreats again providing good two-way trading
A busy morning for the pound again 28 June 2016 We've seen good two-way business on the pound this morning with GBPUSD and GBPJPY particularly enjoying some action. In the cable order-board I highlighted the near term supply between 1.3350-1.3400 and we saw 1.3373 before a return to test 1.3300...
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Sherif Hasan
Published post Fitch says latest Spanish election may reduce political risk but uncertainty remains
US ratings agency turning their attention to Spain 28 June Sunday's outcome is less likely to result in a repeat of 6-month political stalemate that followed that in Dec 2015 signs that a high level of consumer confidence may have reduced Brexit -related falls in fin markets represent key downsid...
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Sherif Hasan
Published post Italy manufacturing confidence June 102.80 vs 102.1 exp
Italy June confidence report 28 June 2016 102.1 prev consumer confidence 110.2 vs 112.5 exp vs 112.5 prev revised down from 112.7 economic sentiment 101.2 vs 103.00 prev revised down from 103.4 All irrelevant right now. Let's see how its stacks up next time post-Brexit vote...
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Sherif Hasan
Published post Germany's Merkel tells Bundestag she regrets Brexit decision of British people
German chancellor Merkel addressing the Bundestag 28 June we have to respect Brexit decision Europe has got through many crises and challenges in the past EU is strong enough to withstand Brexit Germany has special interest in European unification succeeding...
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Sherif Hasan
Published post Japan's JGB yields all less than 0.1% for the first time
Japanese Government Bond yields hit record low levels 28 June 2016 40 year 0.075% 30 year JGB 0.05% 20 year 0.04% 10 year 0.0225...
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Sherif Hasan
Published post Data coming up in this session 28 June
Here's the Economic Data/Event Calendar for today 28 June 2016 Greetings everybody, and yes England's footballers were total garbage to a man! Data-wise it's another relatively quiet one today but we do get a third look at US Q1 GDP at 12.30 GMT As always I wish you a good session Times GMT...
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Sherif Hasan
Published post More on Osborne's decision not to stand in PM contest
UK finance minister George Osborne has officially said he will not stand in the UK's Conservative Party leadership race 28 June 2016 Eamonn had the breaking news earlier but here's a bit more detail from Osborne's letter in The Times: "It isn't in my nature to do things by half-measure and I foug...
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Sherif Hasan
Published post Germany import price index May mm +0.9% vs +0.6% exp
Germany May import price index report 28 June 2016 -0.1% prev yy -5.5% vs -5.8% exp vs -6.6% prev A hint of price rises will be welcome but it's not going to change anything right now. EURUSD 1.1050 EURGBP 0.8315 EURJPY 112.67...
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Sherif Hasan
Published post Spain retail sales May yy +2.8% vs +6.3% prev
Spain May retail sales report 28 June 2016 prev revised down from +6.4% yy SA +2.3% VS +40% prev revised down from +4.1% Softer data a concern but and we're not gonna see so many Brits taking up the slack anytime soon...
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Sherif Hasan
Published post Fin Min Osborne says it's the clear the UK is now going to be poorer
UK finance minister Osborne speaking to BBC radio 28 June 2016 crucial to provide fiscal stability UK in prolonged period of economic adjustment decisions on taxes, spending to come under new PM absolutely going to have to cut spending and raise taxes...
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Sherif Hasan
Published post Patience is the Key
Of all the characteristics a good trader may have, patience is at the top of the list. Alongside prudent money management, in-depth analysis and discipline, the exercise of patience can make or break your trading results. So what specifically do I mean by ‘patience’...
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Sherif Hasan
Published post Barclays is a seller of just about everything
Colour them bearish EUR/USD: Our bearish view was encouraged by Friday's low close. We are looking for a move back towards Friday's 1.0910 lows and then towards a swing target near 1.0840. Beyond there we are looking towards the 1.0710 area...
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Sherif Hasan
Published post S&P lowers UK sovereign rating to AA from AAA
US ratings agency Standard & Poors adding their own verdict 27 June downgrade also reflects risks of a marked deterioration external financing conditions GBPUSD lower at 1.3180 as S&P join others in giving a thumbs down to Brexit. Still remembering to sell those GBP rallies ? Excellent...
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Sherif Hasan
Published post Obama committed to sealing a TTIP agreement despite Brexit decision
US White House out with a press statement 27 June 2016 TTIP remains a priority for Obama no updated timeline for TTIP deal following Brexit decision The Transatlantic Trade and Investment Partnership is the proposed trade agreement between the EU and US with the aim of promoting trade and multila...
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