U.K. monthly average earnings and monthly unemployment release today at 9:30 BST. Earnings forecast to be stable at 2.6% whilst the unemployment rate is forecast to be 4%. The releases could be an important signal to the current economic health of the UK.
The US federal budget deficit rose 17% to $779 billion in the 2018 fiscal year due to a surge in government spending.
EM currencies rallied to a 2-month high as the Turkish Lira leads the way, climbing as much as 2.1%. The Brazili
Oil prices dropped after an industry group reported that U.S. crude inventories rose last week, defying analyst expectations for a significant reduction.
Wage growth in Britain is slowing according to new data out yesterday, casting a shadow on the likelihood of a BoE rate hike in August. All eyes should be on UK CPI data later today.
Feds Powell said the “best way forward”, despite an impending trade war, was to continue to gradually increase rates.
IBM have backed a ‘stabl
Another shutdown of the US government has reportedly been avoided in the latest round of negotiations. Following the longest shutdown in the history of the US at the start of this year, the government was opened temporarily whilst budget negotiations continue.
US markets had a mixed session yesterday with the Dow down 0.21% but the S&P and Nasdaq marginally higher at 0.13% and 0.07% gains respectively. Could the end of shutdown fears spur a rally in today’s session?
With a sub
Philip Hammond to announce the last UK annual budget plan before Brexit on Monday
HSBC announces a rise in profit before tax of around 28% year-on-year to $5.922billion
IBM to acquire Red Hat for $34billion, buying all shares at $190 each
Jair Bolsonaro wins Brazilians Presidential election with just over 55% of votes
Merkel’s Christian Democratic Union votes falls to 28% from 38.3% from the last election
Economic growth for China fell short of expectations, in
Uber has officially filed paperwork for the company's imminent IPO after observing rival Lyft's share price surge on opening only to fall below its IPO price later on. The ride-hailing company will be listed under the ticker "UBER" on the New York Stock Exchange. You can see how you can trade Uber's upcoming IPO on the IG website here.
It was a muted day for US equities on Thursday as the major indices remained little changed ahead of JP Morgan and Wells Fargo earnings announcements later
The U.S. Government has seen turmoil over the weekend after "Trump's Wall" disagreement on Friday resulted in a government shutdown.
Trump will be bringing in the new year with new Defence Secretary. Patrick Shanahan will replace James Mattis on 1st January, earlier than expected.
The end of the year sees further stock slumps, particularly for 2018 tech IPOs. Domo plummeting 25%, Zscaler tumbling 18% and Zurora and SurveyMonkey falling over 10%
Asian Stocks saw a mixed Mond
The 35 day partial US government shutdown has ended after Trump conceded his demand for $5.7 billion to build his border wall as a condition for reopening the government. The temporary measure will fund the government for three weeks while Congress try to craft an immigration deal that pleases the president.
US equities closed at a high on Friday as a solution for the partial government shutdown is reached. The Dow closed 0.8% higher at 24,737.20, whilst the S&P 500 also gained 1% an
European shares seen opening slightly higher
Interest rates and details of asset purchases by the ECB remain unchanged after yesterdays meeting.
No mention of protectionist policy or further details on the supposed resolution of aluminium and steel tariffs were given by Draghi.
Prescription cannabis for medical use is now legal in the UK after a reclassification of the drug.
Amazon smash forecasts of $2.54 EPS with a healthy $5.07 for their end of years.
Earnings solid coming from the US continues to push futures up overnight.
Oil prices held steady, supported by a report of rising U.S. crude inventories as well as the introduction of sanctions against Iran.
Elon Musk tweeted last night regarding taking Tesla private. Stock up as he quoted a $420 price target.
Crypto markets slump following SEC bitcoin ETF delay.
Today there’s a 39.1 point FTSE div (updated from 39.0 on the dividend adjustment post) and a 25.8 Dow div
The Turkish lira crashes yesterday as the central bank decided to keep rates unchanged despite soaring inflation.
The UK housing market looks to remain stagnant as figures released by HMRC showed housing transactions slipped last month by as much as 3%. House sales were down nearly 6% YoY. Housing market data in the US set to release today, so keep an eye out at 12 midday and 3pm for mortgage apps and new home sales figures.
Banking shares continue to gain globally. Metro bank has
As per the Bloomberg article, the market for Turkish Lira is in dislocation. Volatility in the Lira has posted the biggest four-day surge since 2004 as officials adopt measures to create a scarcity of the currency to prevent a slump in its value days before local elections this weekend.
The cost of borrowing Lira overnight on the swap market exceeded 1000% because local banks are under pressure to not provide liquidity to foreign investors who want to bet against the currency.
MSCI Asia-Pacific index down more than 1%
Turkey has doubled tariffs on some U.S. imports, notably alcohol and tobacco, as a response on what is allegedly deliberate US attacks on the Turkish economy.
Trade war squabbles continue with China saying that US solar tariffs violate trade rules and lodge a WTO complaint.
Dollar rises to a 13 month high which pressures commodities, forcing gold to hit an 18 month low.
Asian overnight: Asian markets traded in the red overnigh
IMF Managing Director Christine Lagarde commented that U.S. stock valuations have been “extremely high”, possibly implying a correction. On a similar line, U.S. Treasury Secretary Steven Mnuchin insisted that the stock sell-off wasn’t “surprising”, while insisting that U.S. fundamentals remain strong. Lagarde also advised to be ready for more market volatility
During IMF U.S.-China trade tension was cited as a major reason for cutting its outlook for global growth.
Intense Brexit t
Global equity markets falter on trade war talk.
Turkish lira gains on a presidential win for Recap Tayyip Erdogan.
Oil sheds it's gains as OPEC agree on output hike.
Saudi Arabia lifts the ban on female drivers which could generate up to $90bn for their economy according to Bloomberg Finance
Britain sees its two year anniversary from the Brexit referendum vote. GBP down 11% in that time helping buoy the FTSE and companies who generate the majority of their revenue fro
Trump’s G20 Summit: Love him or loathe him, Donald Trump seems to be able to get things done. Given he is the most powerful man in the word – at the very least, in a political sense – perhaps this isn’t such a difficult task. When you have the world’s largest economy, coupled with the world’s most potent military at your disposal, one would have all the leverage needed to get their way. But nevertheless, arguably not since Ronald Reagan has global politics experienced such a rapid ideological sh
Global equity markets are shining with the Japanese Nikkei hitting an 8-month high, Chinese shares on course to make their biggest weekly gains in 2 years, and a strong earnings outlook expected to continue.
US stock market also looks to continue it's march to record highs are strong fund inflows support the market. Figures released on Thursday by EPFR Global quoted a $14.5bn inflow.
The Hong Kong dollar (pegged to that of the USD) strengthened early Friday ahead of the US Federal
The Office of the United States Trade Representative has posted a list of goods that the US is considering to impose tariffs on from the EU, which includes aircraft, motorbikes, cheese and wine. The tariffs on some $11bn products from the EU is in response to the subsidies the bloc gives to Boeing's rival Airbus, which has caused "adverse effects to the Unites States".
US equities had a mixed session on Monday coming of the back of a strong growth last week. Both the S&P and Nasdaq ed
Asian stocks slide on further trade war tariffs.
Yen, treasuries and gold gain as traditional safe havens.
UK incomes for those in employment rise at the highest rate since the financial crisis according to IHS Markit yesterday.
CYBG confirmed yesterday it had agreed a £1.7bn tie up with Virgin Money.
Oil prices whiplash, but ultimately fall on expectations that OPEC and Russia will gradually increase output after withholding supply since 2017.
Trump is subject of large-scale investigation by the House Judiciary Committee who have sent requests for documents to 81 individuals. The investigation will look into alleged obstruction of Justice, corruption and potential abuses of power.
Despite positive outlook of US and China trade war, as parties appear closer to reaching formal agreement, U.S stocks saw a downturn after positive opening. The S&P fell 0.4% to 2,792.62, The Dow tumbled 206.67 points to 25,819.65 and the Nasdaq
Trump back introduction of tariffs on $200 billion worth of Chinese goods in ongoing trade dispute with China
US president also threatens to withdraw the United States from the World Trade Organisation "if they don't shape up", claiming unfair treatment
US & Canadian leaders optimistic in reaching revised NAFTA agreement by today's deadline
Panasonic are set to move their European base outside of London to mitigate risk going into Brexit
Argentinian government rai
Written by Kyle Rodda - IG Australia
A loaded menu: If this week in financial markets is a buffet of information, then yesterday’s session tasted like the entrée. The themes that were predicted to define this week’s trade all showed-up in one form or another, hinting at bigger things to come. US President Trump added heat to the trade war, then spiced up the Brexit debate; a speech from US Federal Reserve Vice President Richard Clarida had traders questioning how many Fed hike’s markets hav
Asian stocks are broadly higher ahead of the Fed rate decision later today, whilst the NZ dollar is buoyed by higher business confidence.
Trump and Iranian President Hassan Rouhani came to a head at the UN General Assembly on Tuesday with the US President vowing more sanctions against Tehran, whilst President Rouhani suggested that Trump suffers from a "weakness of intellect." Trump is really trying to bring the price of oil into play before the midterms as high oil prices could hit the
Trump and Mexico reach trade to key parts of a trade deal to replace the current ‘NAFTA’ agreement.
S&P 500 and Nasdaq closing at record highs for the second consecutive session. Dow finished above 26000 for the first time since February.
Turkish lira sees a fresh sell off after a week long national holiday as investors don’t see an end to the US row.
Netflix sees the appointment of a new communications officer, previously top executive to Facebook.
What happened? The sell-off continues, and despite a brief pause during Wall Street trade that opened hopes of an end to this rout, it was quickly dashed as investors went back to dumping stocks. The chaos that has ensued in the last 24 hours raised myriad of questions. But the first one is inevitably this: why did that happen? In short: there’s not a clear answer. That isn’t to say that there isn’t reasoning behind the sell-off; on the contrary, there’s plenty to explain it. Rather, it’s a matt
Economic data flow has been relatively light overnight, but activity on financial markets is especially rife. It’s begun with the bond market – not in Europe this time, but in the booming United States. There doesn’t appear to be a discernible flashpoint that’s sparked this, but nevertheless and for whatever reason, bond traders have hit the sell button on US Treasuries. The phenomenon can be witnessed across the curve, with US 2 Year Treasury yields climbing to levels not seen since 2008 at 2.8
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