The dollar just reached its highest level since 2003 November 16, 2016 The US dollar has reached its highest level since 2003, as continued concern about the impacts of President-elect Donald Trump’s new era of fiscal policy pushed it over a previous high point in December of last year. The index measuring the dollar against multiple currencies today rose to 100.53 at around midday, before falling back slightly [...]
Wage increases under threat as slowdown in UK manufacturing weighs on productivity growth November 16, 2016 UK productivity growth fell two-thirds between July and October, despite better than expected GDP growth, new figures have shown. Data from the Office for National Statistics (ONS) showed the main measure of productivity, growth in average output per hour worked, declined to 0.2 per cent from July to September, down from 0.6 per cent in [...]
German GDP underperformance weighs on Eurozone growth but analysts aren’t too concerned November 15, 2016 Eurozone GDP grew at a rate of 0.3 per cent in the third quarter of 2016. The underperformance of the German economy ensured that growth for the region remained stable, but analysts did not see much cause for concern in the face of improving sentiment for the German economy. Growth was weighed down by unspectacular performances [...]
Dollar pressure continues to beat down Asian currencies in wake of Trump election November 15, 2016 China’s yuan today fell to its weakest point since December 2008 against the dollar as concerns over US President-elect Donald Trump’s policies led investors to pile more pressure on Asian stocks. The yuan fell to 0.146 against the dollar, continuing a steady decline from a peak of 0.165 in 2014 and a 52-week peak of [...]
Mark Carney accuses politicians of a “massive blame-deflection exercise” and warns City firms to hold off leaving UK November 15, 2016 Mark Carney today defended central bank policies in front of MPs, saying that politicians blaming inequality on the actions of central bankers were engaged in a “massive blame-deflection exercise”, while also warning firms not to leave the City because of Brexit. The Bank of England governor held firm on the bank’s forecast of inflation above [...]
Donald Trump’s $1 trillion spending plan spurs global bonds sell-off as Dow reaches record highs November 14, 2016 The global bond market is undergoing a massive sell-off as investors weigh the implications of US President-elect Donald Trump’s unorthodox policy proposals. Today the yield on 30-year US Treasury bonds rose above three per cent for the first time since the start of January, owing to fears that inflation will rise once Trump’s policies take effect. [...]
Just when you thought it was all going to be ok, Eurozone industrial production has fallen again November 14, 2016 Eurozone industrial production fell 0.8 per cent in September after a strong 1.8 per cent rise in August, adding to a volatile 2016 so far for European industry. Denmark and Germany posted the largest individual country declines, according to the data released today by the European Union’s statistics agency. They fell 8.1 per cent and 1.9 [...]
Japan GDP growth smashes expectations, pushing the Nikkei to a nine-month high November 14, 2016 Japan’s gross domestic product (GDP) grew at an annualised rate of 2.2 per cent in the third quarter of 2016, outperforming analyst expectations of around 0.8 per cent and helping to drive the country’s stock market, the Nikkei, to a nine-month high. The GDP growth rate grew by 0.5 per cent from July to September, beating the 0.2 [...]
Ex-FSA head: maturing P2P industry could cause regulatory headaches October 31, 2016 Increasing complexity in the peer-to-peer lending industry will be a “flashing red light” for regulators, according to Lord Adair Turner, the former head of the now-defunct Financial Services Authority (FSA). The comments, made in an interview published today by Peer2Peer Finance News, a new industry publication, add to his warning earlier in the year that potential [...]
City firms expected to forge strong deals after Brexit October 31, 2016 Independence from European Union laws and regulation will enable the UK to “make beneficial trade deals with partners around the world”, according to analysis from the Legatum Institute, a think tank whose Special Trade Commission was set up post-referendum to examine the UK's negotiating options. While senior figures from across the City have raised concerns [...]
