GBP/USD Edges Higher On Even Softer Brexit Hopes
It has been a rather volatile day for the pound, as investors reacted to the latest Brexit headlines and data from both sides of the pond. At the time of writing the GBP/USD was still just about holding in the...
US Jobs Growth to Pick Up; Wage Growth to Remain Robust
The US dollar shrugged off downbeat retail sales and inflation figures recently as business data surveyed by the ISM institute indicated that production, new orders and employment bounced up in the previous month, helping 16 out of 18 manufacturing industries...
U.S. Non-Manufacturing Sector’s Expansion Moderates in March
The Institute for Supply Management’s (ISM) non-manufacturing index fell 3.6 points to 56.1 in March. The headline print undershot consensus expectations, which called for the index to moderate to 58.0. Delving into the details, three of the index’s four main...
Currencies: EUR/USD Holding Above The 1.1177/87 Support, At Least For Now
Rates: US ADP and non-manufacturing ISM key for tradingMonday’s stronger than expected US manufacturing ISM and improving Chinese gauges stemmed recession fears at the start of the week. The jury is still out though. Today’s US ADP employment report and...
Brexit, Trade Talks, Bitcoin, Oil, Gold
European equity markets are poised to open around half a percentage point higher on Wednesday, with the FTSE the notable underperformer after the pound rallied following Theresa May’s appeal to the opposition to help break the Brexit impasse. Sterling higher...
UK Services PMI Due, as Pound Eyes Long Brexit Extension
The main release in the UK this week will be the services PMI for March, due out on Wednesday at 09:30 GMT. However, politics will probably eclipse economics in driving the British currency. On that front, Parliament could hold another...
Safe-Haven Currencies Rally as Risk Appetite Takes a Break
Rand Moody’s gave the rand a bone over the weekend and today’s opinion piece shows they will give the South African government time to stabilize the economy. On Friday, Moody’s decided to defer the schedule review of South Africa’s investment...
Bitcoin Surges After Quiet Few Months
Chinese PMI boost short-lived We appear to be seeing some profit taking on Tuesday, following a strong start to trade on Monday on the back of some encouraging Chinese PMIs. Markets in Europe are mixed, with the FTSE 100 the...
UK Cabinet Meets On Options To Break The Brexit Impasse
Notes/Observations UK Parliament again failed to achieve a parliamentary majority to find a path forward on Brexit; UK cabinet meeting to consider options (including delaying Brexit by months or even fresh elections) Asia: RBA left its Cash Rate unchanged at...
U.S. Manufacturing Activity Accelerates in March
The Institute for Supply Management (ISM) manufacturing index improved by 1.1 points to 55.3 in March. This is a better outturn than the consensus view of a roughly flat print. Three of the five subcomponents that comprise the headline index...
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