What you need to know before the US open March 7, 2014 Nonfarm payrolls just came in stronger than expected. In February, 175,000 workers were hired. Analysts had expected 149,000 jobs to be added. Some traders have begun pricing in an earlier date for a rate hike from the Fed on the back of the solid numbers. The dollar has hit a six-week high against the yen [...]
This week’s 4 must-see charts March 7, 2014 The Fed’s use of the word “weather”, vulnerable high street profits, gold’s revival, and the economic effects of the Ukraine crisis. We bring you some of our favourite analysts’ picks of the most important graphs this week. David Lebovitz, global market strategist at JP Morgan Asset Management: There has been a lot of discussion of [...]
What you need to know before the open March 7, 2014 A mixed open for Europe this morning as investors await the US employment report. Consensus is that US hiring increased enough in February to leave the Fed’s tapering plan on track. The S&P 500 saw a record finish again yesterday as weekly jobless claims dropped to a three-month low. The ECB disappointed yesterday, leaving its [...]
European Central Bank holds rates March 6, 2014 Today's second central bank decision and the European Central Bank has opted to leave its key interest rate unchanged, at 0.25 per cent. All other rates have been held, too. Capital Economics has called the outcome a "disappointment". Like numerous others, the research group was hoping Mario Draghi's dovish comments would lead to some action, [...]
Why the ECB’s rate decision has one analyst singing Simon and Garfunkel March 6, 2014 We’ve got the European Central Bank’s interest rate decision being announced at 12.45, and for Kit Juckes of Societe Generale, Simon and Garfunkel’s 1968 song The Boxer gives a neat summation of what we will – or won’t – hear this afternoon. I can only apologise for the Paul Simon thing this morning, which is [...]
3 things Putin probably hadn’t bargained for March 4, 2014 It seems Vladimir Putin, upon whom everyone’s been keeping more than half an eye, is backing off. Following the beating the Russian stock market and currency took yesterday, the Russian leader's been speaking at a news conference. He told reporters this morning that there’s no – current – need for military force in Ukraine, that [...]
Putin: Armed troops in Ukraine are last resort March 4, 2014 President Putin, who’s currently speaking at a news conference, has said there’s no need to send troops into Ukraine now, but that Russia still "has that option". Deploying armed forces is, he said, would only be done in an extreme case. "So the tense situation in Crimea related to the possibility of use of force [...]
What you need to know before the open February 28, 2014 European bourses are set to open slightly higher this morning, after Fed chair Janet Yellen yesterday acknowledged the possibility that recent severe weather in the US could have impacted economic data. She also confirmed the Fed remains on track with its tapering programme. US markets finished on a record high yesterday, with the S&P 500 [...]
S&P 500 rises to record high on Yellen’s speech February 27, 2014 THE S&P 500 soared to a record high yesterday after US Federal Reserve chair Janet Yellen said harsh winter weather may have been behind recent US economic softness. Appearing before the Senate Banking Committee for the first time since taking over as chair of the US Fed, Yellen said it wanted to get a “firmer [...]
London Report: RBS weighs on FTSE but Yellen drives stocks up February 27, 2014 BRITAIN’S top share index edged up yesterday, lifted by positive US data and assurances from Federal Reserve chair Janet Yellen, despite a sharp sell-off in Royal Bank of Scotland and increasing tension over Ukraine. RBS skidded 7.7 per cent as its new chief exec outlined plans for a large-scale overhaul after the mostly state-owned lender [...]