One US indicator suggests that economic growth is lower in October November 27, 2013 The Chicago Fed National Activity Index (CFNAI) dropped from 0.18 (revised up from 0.14) to minus 0.18 in October. The Chicago Fed said that the decline resulted from fall in employment and production related indicators. The index is a weighting of 85 different indicators of US economic activity. Employment-related indicators were responsible for -0.05 of [...]
What you need to know before the open – 27/11 November 27, 2013 Data will be coming in pretty thick and fast for the UK and US today, although we're not expecting any surprises as far as UK GDP goes. US trading is expected to be pretty light today, ahead of the Thanksgiving break tomorrow. Rising military tension between China and Japan prompted mixed reactions on Asian markets, [...]
Mid cap stocks gain favour as UK economic optimism rises November 26, 2013 But don’t write off the more international FTSE 100 blue chips THE UK recovery has finally taken hold. But not only is growth returning, many are now more optimistic about our economic prospects compared to other advanced nations. Last week, the OECD revised down its 2013 global growth forecasts to 2.7 per cent from 3.1 [...]
US manufacturing sector strengthens on shipments and new orders November 26, 2013 The US manufacturing industry looked more upbeat in November, with the Richmond Fed manufacturing index coming in at 13, up from 1 in October and sailing past the expectation of 3. Shipments and the volume of new orders both rose over the month, with employment, average workweek and wages also picking up. Capacity utilization [...]
Letters to the Editor – 26/11 – Lobbying airports, State banking, Best of Twitter November 25, 2013 Lobbying airports [Re: Why low cost carriers and hub buster planes make Gatwick the UK’s future, yesterday] The main problem with Stewart Wingate’s argument is his approach to state planning: “Out to the 2040s, there is only enough demand for one new runway.” But in the case of London’s airports, there is no good reason why Gatwick [...]
DailyFX: Analyst picks November 25, 2013 CURRENCY STRATEGIST CHRIS VECCHIO My pick: Stay long sterling-yen Expertise: Fundamental and technical analysis Average time frame of trades: A few hours to a few weeks I took half profit on my sterling-yen long position at ¥161.45 (closed from ¥158.30 and ¥160.00), leaving my net long entry at ¥160.80 (from ¥160.16 and ¥161.45). With holiday [...]
Analysts say US Fed is like a virus which learns and adapts November 25, 2013 Ashmore analysts have likened the US Federal Reserve to a virus, which will try its hand at harder medicine after markets ignored chairman Ben Bernanke's verbal guidance in May. They expect the Fed to attempt to begin tapering of QE – a reduction in the rate of expansion of the monetary base – in early [...]
What you need to know before the open – 25/11 November 25, 2013 European markets are expected to rise this morning after gains in Asia and another record finish in the US. Sentiment has also received a boost from the deal with Iran regarding its nuclear programme. Brent crude prices started the week down 2.5 per cent. Morning all. There's a bit going on early doors. Could [...]
What you need to know before the open – 22/11 November 22, 2013 After another record close for the Dow yesterday, Europe is set to open higher, as consensus is that tapering looks more likely for the New Year than December. #FTSE called 10 higher this morning. #EURUSD has rallied to resistance at 1.3490. #Gold has been steady overnight around 1245. Morning all! — FuturesTechs Updates (@FuturesTechs) [...]
New York Report: Dow ends over 16,000 for first time in history November 21, 2013 THE DOW industrials closed above 16,000 for the first time last night as stocks rebounded from three days of weakness, after economic data pointed to a slowly improving labor market and subdued inflation. Financial shares led the market to its first day of gains after three sessions of losses. Although investors remain unsure about the [...]