I was rather surprised watching the BBC News last night cover the Libyan crisis, Afghanistan and the Olympic countdown, but no mention of the looming disaster if America fails to raise its national debt ceiling! Lets be clear, failure to reach an agreement would mean of Tuesday the US would not be able to pay [...]
The drama surrounding the Murdoch’s and the News International hacking scandal will once again steal the headlines this morning, but don’t let this distract you too much from the intensifying Euro debt crisis.
Senior market analysts are clamouring to point out that politicians dragging their heels are threatening to make this European debt crisis into a [...]
The difficulties on our high street were laid bare yesterday when the owner of the Argos chain said that sales of TV’s, iPods and audio equipment had fell by up to 25% over March and April. This news also coincided with a major survey showing that 40pc of consumers had made “significant” cutbacks since the [...]
UK house prices have dropped at their fastest rate for 19 months with, prices falling 4.1% in the three months to May. This is a trend that is likely to continue in the near term, with, mortgage approvals a leading indicator of house prices dropping in April. This is as first time buyers struggle to [...]
Yesterdays data releases followed a pattern, which, has been witnessed numerous times recently. Mixed data in the UK, surprises to the upside in Germany and, renewed worries about the Greek debt situation. This mix of data releases led to swings in the currency markets, which saw the Euro briefly strengthen against Sterling and the USD [...]
The Euro was hovering above a two month low against the USD this morning and dropped to its lowest ever level against the CHF. The weakening of the Euro against the safe havens of the USD and CHF indicates that a return of risk sentiment is currently gripping the markets, which, is further supported by [...]
UK retail sales, surprised to the upside yesterday with a strong increase of 1.2% in April, against expectations of a 0.9% increase. This was the strongest increase in over a year, however, this is being put down to the recent warm weather, late timing of Easter and the Royal Wedding. In the immediate after math [...]
Sterling weakened against both the USD and Euro in yesterday’s trading, most likely due to a clouded jobs report and a dovish set of minutes from the MPC.
The number of unemployed people in the UK fell from 7.9% to 7.7% in the last quarter, and the number of unemployed 16 to 24 year olds, titled [...]
The Euro is subdued against the dollar and sterling this morning as the sovereign debt crisis again raises its head. Yesterday the German finance minister admitted that Greek debt may need to be restructured, despite last year’s £97bn bail out. The reason for this restructuring is that the Greek government must now pay 13% interest [...]
As expected, the Bank of England kept rates on hold at 0.5% for another month, with spiralling UK inflation not enough to convince the MPC to change direction. As ever, it won’t be until the minutes are released in a couple of weeks that we see how each member voted with the previous meeting voting [...]