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IGAaronC

IG Market News
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Everything posted by IGAaronC

  1. In the latest round of voting in the House of Commons, MP’s voted to set up a series of votes on Wednesday to see which approach to Brexit has the most support. Later, am amendment on whether another extension could be requested if no progress is made on a deal by the 5th of April. European indices finished the main session down with the FTSE losing 0.42% and the DAX losing 0.15%, 17 points down from the previous day. Meanwhile, US indices traded relatively flat with less that 0.1% change across the three major US indices. The Nikkei 225 was gains 2.15% gaining back some of what wa
  2. Theresa May has scheduled another vote on her Brexit deal following the latest round of voting on the house of commons as MP’s voted last night to extend article 50. It still remains to be seen whether this extension will be agreed to by the EU. The US senate has voted to prevent funding for Trump’s border wall, the main sticking point of the government shutdown at the beginning of the year, potentially setting up a veto from the president. The FTSE was up 0.5% yesterday but most of that came at the market open following Wednesdays vote that a no-deal situation wouldn’t be accepted
  3. Developments have been made in the US-China trade war with Trump announcing ‘substantial progress’ has been made by both sides resulting in the hike on Chinese imports being delayed. Theresa May is set to meet world leaders in Egypt later today. Yesterday she announced there will be a new vote on her deal by the 12th of March but has faced criticism that this is just 17 days before the deadline. Asian markets have rallied on the back of the trade war announcement, with the Shanghai Composite raised over 6% The yen has softened as investors have come away from the safe-haven c
  4. The AUD continues to trade lower following the Chinese ban of Australian coal to its Dalian port. The ASX has benefited for the weaker exchange rate as it is trading at its highest level since October. Trump yesterday tweeted about not inhibiting technology from coming to the US with specific references to 5G networks implemented by the Chinese firm Huawei. This suggests a softer stance towards the Chinese firm which recently saw governments stating they would no longer allow the company to be involved with their infrastructure upgrades. Brexit woes have continued as more conservat
  5. 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 subdued session in most of yesterdays major markets, the Nikkei was the stand out from the crowd with a g
  6. MP’s have voted to remove the Irish backstop and remove the possibility of a No-Deal Brexit in the latest round of Commons voting. Venezuela’s Maduro is reported to have said he is ready to talk to the opposition. This could hopefully stop the escalation of unrest in Venezuela which yesterday saw defectors calling on the Trump administration to arm them against Maduro, labelling him a dictator. The FTSE gained 1.75% yesterday whilst the Dow gained 0.8% Meanwhile the Hang Seng was up 0.97% yesterday but as at the time of writing it has shown a retracement of those gains. A si
  7. Chinese growth has officially fallen to its slowest in 28 years. Fourth quarter figures have been announced which confirm analysts’ expectations that growth would be 6.4%, averaging 6.6% for the year. The US shutdown has now entered its 30th day. Trump offered protections for ‘Dreamers’ in an attempt to negotiate but this was quickly rejected by democrats as inadequate. Analysts now believe the shutdown will cause a 0.25% reduction in growth figures for the first quarter of 2019. Jeremy Corbyn has repeated calls for Theresa May to rule out a no deal Brexit. The PM is due in parliam
  8. Netflix announced subscriber growth of 8.8 million over the past year giving them a total of more than 139 million. Meanwhile, their quarterly revenue was up 27% from the same period in 2017 but the share price is down 3% as they failed to hit analysts’ expectations. Theresa May has rejected calls of Jeremy Corbyn to rule out a no deal Brexit whilst the FTSE yesterday stayed flat. American Indices were up yesterday with the Dow gaining 0.67% despite no resolution to the US government shutdown yet being found. The US delegation’s trip to the World Economic Forum has been cancelled a
  9. Today is considered ‘Super Thursday’ as a number of large UK retailers are set to release their Christmas sales data. This comes after a report from the British Retail Consortium which said that average retail sales saw 0% year on year growth Jeremy Corbyn is expected to launch an election bid if May loses the Brexit vote, scheduled for Tuesday the 15th. Yesterday saw May suffer another defeat in the house of commons which will mean she will have just 3 days to come up with a plan B if her current deal fails Tuesdays vote. ‘Modest progress’ is said to have been made in the US-China
  10. The three main American indices: the Dow, the S&P and the NASDAQ all rose over 4% on boxing day following the Dow’s worst Christmas eve ever. Asian markets followed the trend with the Nikkei also raising 4% Oil saw its largest daily gain since 2016 with an 8% rally. Oil related companies in Australia also climbed on the price increase. The dollar basket rose almost 0.6% in the main session but finished the day with a strong gain of 0.29% Huawei concerns deepen as the UK Defence Secretary states the firms’ involvement in the UK’s network upgrades should be reviewed.
  11. Markets fall as Fed raised US interest rate from 2.25% to 2.5% At its lowest the Dow fell over 4% following the announcement (its lowest point in over a year) of which it has now seen a small retracement. Asian markets we also affected, the Hang Seng was down 1.24% at close whereas the Nikkei lost 2.84%, a 15-month low The announcement saw the dollar gain almost 0.5% against the dollar basket but as investors have fully digested the statements made by the Fed this now sits at a 0.16% gain. As can be expected, the inverse was seen from gold which fell 0.8% and has now r
  12. The Dow will open lower today than its open price for the year following weak jobs data and the resulting sell-off of FAANG companies. US Non-farm payrolls grew by 155,000 on Friday, missing estimates of 198,000 whilst unemployment is near record lows at 3.7% Chinese markets had a poor start to the week following missed trade estimates for November. The Hang Seng has fallen 1.41%, the Shanghai composite by 0.84% and the Shenzhen composite by 1.15% The European Court of Justice has ruled this morning that the UK can unilaterally revoke Article 50 and the withdrawal from the EU
  13. UK government found in contempt of parliament for the first time due to not releasing the full legal advice regarding Brexit. The government has now agreed that it will be published which may cause more instability in the markets Markets have retreated following their rally attributed to agreements made between the US and China at the G20. The fall comes amidst increasing sentiment of an economic slowdown as well as reduced faith in trade war negotiations following officials of the Trump administration admitting it was too early to say if a longer-term deal could be reached. The Do
  14. Theresa May to visit Brussels today to meet with EU leaders. The visit will see May attend ceremonies marking 100 years since the end of the First World War and she will also have a working lunch with French President Emmanuel Macron which is expected to cover the Brexit deal following news of a draft withdrawal agreement this week. US Fed holds rates as expected with a further hike anticipated in December which saw USD gains and Treasury yields hit highest level since 2008 Chinese President Xi Jinping has sought to reassure companies of the Chinese economy following slowing econom
  15. USD reaches its highest level this year as it breaches the 97.00 level it tested earlier this year, a level it hasn't seen since June 2017 Asian markets have shown signs of recovery heading towards the end of October which saw significant losses globally. The Shanghai Composite rose just over 1% despite the manufacturing growth rate missing forecasts The Dow Jones also saw strong gains yesterday following a consumer confidence report which beat expectations, reaching its highest level since 2000. As a result Wall Street is no longer in the negative since the beginning of the year.
  16. Cryptocurrencies have been going through a period of relative stability, which is almost unheard of for the asset class that gained notoriety for its volatile price movements. ...the support and resistance lines are expected to congregate by early November but a breakout can occur at any time... The stock market selloff that punished the tech sector in the first half of October coincided with Bitcoin losing 7.5% of its value in a single day. Does this correlation in market movements suggest that as Bitcoin and other cryptos have become more mainstream, and adoption by central
  17. Chinese stock have rallied with the Shanghai Composite Index gaining more than 4% as officials attempt to support the market as GDP figures last week fell short of the 6.6% growth target by 0.1% The rest of the APAC region followed suit with all major indices apart from Australia's ASX 200 making gains. Dominic Raab has stated there may be some flexibility on the Irish border issue. The Brexit Secretary made the comment in an interview which may allow negotiations continue for a soft Brexit. Uncertainty over oil remains as the investigation over the Saudi journalist Jamal K
  18. US sees largest market fall in 8 months with the Dow Jones losing over 800 points in the main session. Asian markets followed suit with both Tokyo and Hong Kong down over 3%. The Taiwanese index was down 6% with the MSCI Asia Pacific average coming in at an average loss of 3.5% for the region The tech sector saw the biggest losses yesterday with FANG companies losing between 4-9% Oil saw its biggest 2 day loss since July as supply concerns continue. The US are set to announce their inventory levels later today Hurricane Michael has continued to batter the South-East
  19. Hong Kong’s Hang Seng index pulled back last night with gambling shares having a bad time after falling revenues in Macau's casino region. US-Sino tensions rise as a US ship enters Chinese territory. Stay on top of currency markets as trade war tensions rise with #IGForexChat. The financial and healthcare sectors pushed the ASX lower whilst China remained closed for another public holiday. Bank of Australia holds cash rate at 1.5%. Japan’s Nikkei was the lone star in the Asian overnight session with a positive reading. USD/JPY climbs to 11 month high as speculators increase t
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