by Christopher Nye | Jan 4, 2019
We have the services PMI today, expected at 50.7, only just in positive territory, so any shortfall will be negative in any and all senses. Sterling recovered well following the ‘flash crash’ and we find ourselves back in familiar territory. The driving forces are...
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by Christopher Nye | Jan 4, 2019
News that the US and China will hold high-level trade talks next week, as well as the fact that Democrats supported and successfully passed a bill aimed at funding the Government, calmed nerves yesterday. Trump has vowed to veto the bill as it is missing the $5...
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by Christopher Nye | Jan 3, 2019
In a typical ‘Risk’ move the dollar had a good day against almost all of the majors, except the Japanese Yen. Despite a meeting between Democrats and Republicans the Government remains in partial shutdown as President Trump continues to hold out for his money for the...
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by Christopher Nye | Jan 3, 2019
European PMIs all painted a picture of the economy continuing to struggle. The euro sold off from the highs but then accelerated lower as news came out that the ECB had appointed administrators to Banca Carige. Despite being a rather small Italian bank, the headline...
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by Christopher Nye | Jan 3, 2019
We saw UK manufacturing PMIs hold up better than some European releases, coming in at 54.2 against expectations of 52.5. However a lot of the outperformance was explained by companies stockpiling ahead of Brexit, so there was little benefit to the pound. Despite...
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