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At 7.00pm today we will have the Federal Reserve press conference in which they announce their decision on policy, such as interest rates and stimulus. The market is expecting (and has priced in) a $10bn reduction in the monthly stimulus package – this being referred to as tapering as they…
US manufacturing, jobs and housing data painted a mixed picture of the US economy yesterday. The increase in home prices appears to be slowing, but jobless claims and existing home sales continue to show improvement. From a global perspective, manufacturing confidence remained firm, largely reflecting strength in the euro area….
After surprisingly good figures from the UK labour market yesterday, GBP has just fallen off its 2 year high versus USD (1.6615) and 18 month high versus EUR. With only minor news out today, the next potentially market moving event will be Mark Carney’s (Bank of England Governor) speech at…
Today’s calendar is dominated by this mornings UK labour market data and the January Monetary Policy Committee meeting minutes. If we see a fall/improvement in the unemployment, this should be GBP-positive, given the labour market’s central role in the BoE’s forward guidance. In the BoE minutes, the market focus will…
With the German ZEW survey being the only major data release today the market will be looking at tomorrow’s Bank of England minutes. The minutes of the BoE MPC meetings are published two weeks after the interest rate decision. The minutes give a full account of the policy discussion,…
Last weeks UK retail figures gave the market a real surprise with an unexpected rise in retail sales. As we start the new week GBP is still riding high on this news. Today will be a very light day of trading with the US closed for Martin Luther King Day….
The Dollar continues to strengthen against most currencies, supported by strong US data. Yesterday the Federal Reserve’s Beige Book confirmed the recent upturn in US economic activity, particularly in manufacturing and employment. Today we have US inflation data which will be yet another indication as to how much room the…
Good morning, as the UK embraces half-term and the US commemorates Washington’s birthday today we are expecting a relatively day with very little data being released in the UK or the Eurozone. Any news from Europe, is likely to come from Eurogroup and EuroFin meetings and the standard discussions about…
Good morning and Happy Valentine’s Day to one and all. Starting with the least surprising news of the day, UK house prices rose to a record level in January courtesy of an increase in first time buyers and an in movement across the UK and not just London. Prices rose…
Yesterday saw Bank of England Governor Mark Carney present new quarterly forecasts and a revision to the bank’s forward-guidance policy. Not surprisingly, instead of lowering the unemployment threshold which is expected to reach the “magical” 7% threshold during the spring, Carney has decided to replace it with a range of…