Any Other Business – 09/09 September 8, 2013 BORIS Johnson is rolling up his sleeves and donning his chef’s hat this week to try and give London’s schoolchildren a decent breakfast. The Mayor’s Fund for London is supporting the first-ever Biggest Breakfast event this Thursday, with the aim of expanding its morning meal scheme beyond the current 50 primary schools in seven of [...]
Think tank sees UK growing at fastest pace in three years September 6, 2013 Think tank NIESR has estimated that UK GDP grew by 0.9 per cent in the three months to August, up from an estimate of 0.7 per cent growth in the three months to July. The latest time NIESR estimated growth this fast was in July 2010, when it was also at 0.9 per cent. Our [...]
Sell-off as Putin announces Russia is assissting Syria with arms shipments September 6, 2013 US equities and the dollar are selling off on the announcement by Russian President Vladimir Putin that Russia will assist Syria if strikes against Syria are launched. Putin has said that Russia is already assisting Syria with arms shipments. USDJPY hit hard as US Treasury bonds rallying again (yields lower) on Russia rhetoric. Wow. — [...]
US unemployment drops to December 2008 low despite weaker job creation numbers September 6, 2013 A weak number from the US gives nonfarm payrolls at 169,000 in August, from 104,000 seasonally adjusted jobs added in the previous month. That 104,000 is revised way down from 162,000 last month, and June's number see revisions from 188,000 to 174,000. So that's three weak numbers in a row. Markets were looking for a [...]
Fed’s Evans says monetary policy isn’t on a preset course but expects rates rise in 2015 September 6, 2013 The Fed's Charles Evans has said that the Federal Reserve should hold on tapering of quantitative easing – a reduction in the rate of expansion of the US' monetary base – until inflation picks up. Evans said that he expects the first Fed funds rate increase to come in late 2015, with unemployment below seven [...]
German industrial production sinks in July September 6, 2013 German industrial production numbers have dropped by 1.7 per cent in July, from 2.0 per cent growth last month (revised down from 2.4 per cent). So that's bad news on two counts, with economists estimating that production would only fall by 0.5 per cent. It's a bit of a weird morning, with hard data conflicting [...]
End to UK’s winning streak: Poor data sees the pound plummet September 6, 2013 A string of solid data points for the UK have come to an end, as the economy's winning streak goes cold. Industrial production, manufacturing production and trade data have all been disappointing. The pound has taken a slide against the dollar on the bad news. UK industrial output has been completely flat in July, despite [...]
House price growth slows in August September 6, 2013 House prices have risen by 0.4 per cent in August, down from a 0.9 per cent rise last month, according to the Halifax house price index. Economists had forecast a rise of 0.7 per cent. House prices have risen 5.4 per cent in the three months to August on the same period last year. Nicholas [...]
French consumer confidence ticks up in August September 6, 2013 French consumer confidence is up slightly in August, from 82 to 84, according to new numbers from INSEE. That's slightly above expectations of a rise to 83. Respondents saw their financial situation slightly improved, with past situation up one point and future up two. Assessment of August being a suitable time to make major purchases [...]
Before the open – 06/09 September 6, 2013 Strong US data yesterday has led traders to fear potential US Federal Reserve tapering could be moved forward. Now the FTSE could open lower on nerves over that tapering – a reduction in the rate of expansion of the US' monetary base. So all eyes are on today's US jobs data, out at 13:30. Investors [...]
