Dollar bounces back after US non-farm payroll falls to 151,000 in August September 2, 2016 The number of new job openings in the US fell to 151,000 in August, down from 255,000 the month before – missing economists' expectations of 180,000. Unemployment held at 4.9 per cent, figures published today showed – against expectations of a fall to 4.8 per cent. The disappointing figure pushed the dollar 0.4 per cent down against the [...]
Dollar falls as US manufacturing sector shows surprise contraction in August September 1, 2016 We've missed the hat trick: after this morning's purchasing managers' indexes (PMIs) for manufacturing in the Eurozone and UK both beat expectations, this afternoon's US equivalent was a rather damper squib, with the country's factories sector posting a surprise contraction in August. The Institute of Supply Managers' PMI for economic activity in the manufacturing sector fell to [...]
Brent crude and West Texas Intermediate oil prices slide on latest US stockpile increase August 31, 2016 Another surprise rise in US stockpiles pushed the price of Brent crude below $48 this afternoon. The global benchmark slid 2.46 per cent in afternoon trading to $47.18, while the price of West Texas Intermediate was down 2.91 per cent to $45. The US Energy Information Administration (EIA) said this afternoon that crude stockpiles had risen for a second straight week, up [...]
Eurozone economic sentiment fell to a five-month low in August after June’s Brexit vote August 30, 2016 Economic sentiment among the 19 members of the Eurozone fell during August to its lowest level since March, according to new EU data. The European Commission's Eurozone Economic Sentiment Indicator (ESI) fell to 103.5 over the past month, from 104.5 in July – well below the 104.1 forecast by a Reuters poll of economists. Confidence was [...]
Emerging markets have enjoyed a real comeback, but as expectations of another Fed rate hike grow, can it last long? August 30, 2016 At the beginning of the year, things looked dismal for emerging markets. Investor optimism had soured over the previous three to four years, thanks to a cocktail of tumbling commodity prices, a strong dollar and a Chinese slowdown which had shaken confidence in the sustainability of their growth. Nine months later, and the mood has shifted [...]
From Italy to Trump, why are investors so complacent about political risk? August 30, 2016 As Theresa May plotted with her Cabinet this weekend about the country’s plan for Brexit, doomsday-predictors should have every reason to be amazed at where asset prices sit today. Funnily enough, market-savvy Brexiteers I spoke to in the aftermath of the vote were surprised but sanguine, saying markets always overreact. Clearly in the short term [...]
Lee Westwood, Martin Kaymer and Luke Donald tipped to be handed Europe’s Ryder Cup wild cards August 29, 2016 England's Luke Donald has emerged as a surprise contender for one of Darren Clarke’s three wild-card picks as the European captain prepares to name his final Ryder Cup team on Tuesday. Clarke is expected to select an experienced trio to join a rookie-heavy line-up of nine automatic qualifiers, with stalwarts Lee Westwood and Martin Kaymer [...]
Janet Yellen says case for rate hike has “strengthened” in recent months August 26, 2016 The case for rate hikes has "strengthened in recent months", chair of the US Federal Reserve Janet Yellen has said. Speaking at Jackson Hole, the Fed chief said: "In light of the continued solid performance of the labour market and our outlook for economic activity and inflation, I believe the case for an increase in the [...]
FTSE 100 flat ahead of Janet Yellen’s Jackson Hole speech August 26, 2016 The FTSE 100 was trading flat this morning ahead of the Federal Reserve's speech at Jackson Hole. The UK's blue-chip index was trading 0.1 per cent down at 6,810 points in early morning trading, with investors looking for clues of when a US rate rise could come. "A rather subdued opening call is nothing out of the [...]
US Presidential Election 2016: Fears creeping into US economy as service sector stumbles August 25, 2016 The US services industry is growing at its slowest pace in six months, as uncertainty ahead of November's presidential election is beginning to hamper the world's largest economy. Markit's purchasing managers' index (PMI) for the sector came in at 50.9 in August, down from a score of 51.4 in July and hovering perilously close to [...]