Gordon Brown appointed to Pimco advisory board alongside Ben Bernanke and Jean-Claude Trichet December 7, 2015 Former Prime Minister Gordon Brown has been appointed to the Global Advisory Board at investment management firm Pimco. He joins the group’s team of advisers alongside former Fed chairman Ben Bernanke and former chief exec of the Government of Singapore Investment Corporation, as well as Anne-Marie Slaughter, president and chief exec of New America, and [...]
Why the dollar-Canadian dollar should rally higher December 7, 2015 With euro-dollar short positions blown out of the water on the back of the European Central Bank meeting last week, which pair can we work with to express dollar strength? Yesterday’s dollar-Canadian dollar high was the loftiest since September. This should not come as a complete surprise, as the pair is merely catching up [...]
Draghi has a major eurosceptic headache – eToro Tips & Picks December 7, 2015 The markets’ main focus is currently the likelihood of the first US rate rise since 2006 and the divergence of US and European monetary policy. Janet Yellen announced last week that the US economy has “recovered substantially” from recession. Friday’s figures showed 211,000 new jobs created in November. Yellen, Stanley Fischer and other FOMC [...]
At the close: FTSE 100 index closes down on oil companies December 7, 2015 The FTSE 100 index closed down today as oil companies were hit after the Organisation of Petroleum Exporting Countries failed to agree to curb production. Opec failed to agree on curbing production despite a global supply glut and the strength of the dollar, which is leading to the collapse of oil prices, with the resulting uncertainty [...]
Sentix: Investors optimistic on Eurozone growth despite Draghi disappointment December 7, 2015 Investors are backing the Eurozone economy to pick up the pace over the next six months, according to new survey figures published today. The Sentix economic index for the Eurozone, compiled from a survey of over 1,000 investors, climbed 0.6 points to a score 15.7. The rise in sentiment on the Eurozone’s growth prospects comes despite investors [...]
Fitch: Emerging market weakness won’t create a global recession December 7, 2015 The world will avoid a global recession next year, despite weakness in emerging markets, a leading credit ratings agency has said – while the Federal Reserve will hike rates four times next year In fact, its forecast for next year paints a cautiously optimistic view of the world. Here's how it sees the world in [...]
Expected rate rise build up begins in US – New York Report December 6, 2015 Last week’s back-to-back equities selloff might have been a chance to ride a US stocks rally towards the end of the year, amid the goldilocks economy scenario of a strong jobs market and falling oil prices. The S&P 500 rallied two per cent Friday to eke a slight gain for the week, the ninth up [...]
US nonfarm payrolls: Bumper jobs report clears way for Fed interest rate rise December 4, 2015 A strong showing in the US' nonfarm payrolls report has increased hopes of the Federal Reserve hiking rates later this month. The monthly report showed the US economy added 211,000 jobs last month, with unemployment sticking at five per cent. The dollar's reaction to the news was muted, having spiked above $1.09 against the euro, it [...]
“An exquisitely wrapped lump of coal”: Here’s how economists are reacting to Mario Draghi and the European Central Bank’s decision to introduce further monetary easing December 3, 2015 European Central Bank chief Mario Draghi may have given markets a bit of what they wanted, but in the event it was more of a nerf gun than a bazooka. At a press conference today Draghi said the Bank will extend up its asset purchase programme into 2017, as well as cutting its deposit rate to minus [...]
Fed rate hike: Index sharply lower after Janet Yellen remarks – New York Report December 2, 2015 Hawkish comments from Federal Reserve chair Janet Yellen yesterday which boosted expectations of an interest rate hike pulled US stocks sharply lower. Investors also attributed late-day selling to news coverage of a shooting in southern California, in which 12 people are said to have been killed . The Dow Jones industrial average fell 158.67 points, [...]