EUR/USD update (24th May 2013, 12:00)24 May 2013
The euro is trading higher versus the US dollar this morning after Germany reported higher-than-estimated business sentiment figures.
The euro is trading at $1.2982, up 0.4% after the German IFO business climate report came in at 105.7 in May, which compares with a reading of 104.4 in April. The in...
Market Comment 24th May 201324 May 2013
European equities are set to open flat as the Nikkei takes another lurch lower.
The last time the Nikkei dropped 7% in a single day was when the Tsunami struck the Japanese coastline two years ago, and things aren’t getting any better today. At the time of writing we are another 3% to the dow...
EUR/USD update (24th May 2013, 06:00)24 May 2013
Data overnight was actually better across the board, which is something we haven’t seen in a while.
German and French PMIs contracted at a slower pace than expected, although you can hardly say they provided clear optimism. US initial claims were lower than forecast at 340,000, while home sal...
Copper down as Traders Sell24 May 2013
Copper is down 2% as traders press the sell button, after the HSBC Chinese PMI came in below expectations at 49.6, with analysts expecting a positive reading of 50.5.
Not only did the report come in below estimates, as the reading was below 50.0 it was the first contraction in Chinese manufacturing...
EUR/USD update (23rd May 2013, 14:30)23 May 2013
Following the Federal Reserve’s ‘as you were’ statement, the EUR/USD currency cross has remained stable.
Not even two of the Fed’s team of twelve calling for an end to quantitative easing (QE) has managed to see the EUR/USD currency cross break out of its 1.3200 to 1.2800 range. I suspect that most...
Market Comment 23rd May 201323 May 2013
Equity investors have had a fantastic run this year - it has been hugely profitable and ‘seemingly’ risk-free…..until now that is.
Despite the world economy still being far from rosy, company valuations have soared to unseen levels. They have benefitted from huge injections of cash into the f...
EUR/USD update (23rd May 2013, 06:00)23 May 2013
EUR/USD experienced significant volatility after a spike to $1.300 was greeted by sellers and it dropped all the way down to $1.283 on the back of USD strength.
Today is a big day for the single currency, with several PMI readings set to be released. These will give a better indication of how...
EUR/USD update (22nd May 2013, 13:30)22 May 2013
The euro is higher versus the US dollar ahead of this afternoon's statement from US Federal Reserve chairman Ben Bernanke.
The euro is trading at $1.2928, up 0.18%, as traders wait to hear from Mr Bernanke at 3pm (London time). Lately, there has been talk that the Fed is considering reducing the si...
Market Comment 22nd May 201322 May 2013
European equity markets look set to open marginally lower after what was another strong day for equities on Tuesday.
In what was a quiet day with no major economic data of note in the US, comments made by more Fed presidents proved to be the drivers for markets, again. This time QE was in fav...