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Britain’s mortgage approvals fall to lowest level in 21 months

Britain’s mortgage approvals fall to lowest level in 21 months

September 29th, 2016

Today the global economic calendar is chock-a-block. In the UK, just released data showed that the nation’s consumer credit rose above expectations for August. However, mortgage approvals recorded a drop during the same month. The Eurozone and US data calendars will slowly gather steam as the day progresses. The Euro region has a string of first-tier data points due, in the form of consumer confidence and business climate index. Across the Atlantic, the Federal Reserve (Fed) Chairwoman, Janet Yellen, will speak at a minority banking conference about banking issues, though investors are interested to see if she veers towards any monetary policy related concepts. US weekly jobless claims and personal consumption expenditure data are also due out today.

  • How will Brexit Affect your UK Business?
    September 27th, 2016

    How will Brexit Affect your UK Business?

    A straightforward answer to this question would simply be: Badly. Think of those mean high school kids in the cafeteria that don’t let you sit with them to eat your lunch. Well, Brexit might feel the same. Europe would dislike the UK (remember Juncker?) and many EU and non EU countries might just turn out to be our frenemies. But what’s done is done. On 23 June 2016, the UK voted to leave the EU.

  • It’s a full calendar for the US economy today
    September 27th, 2016

    It’s a full calendar for the US economy today

    The US economic calendar is getting the most attention today with first-tier data in the form of services purchasing managers’ index (PMI) and consumer confidence index. The US Richmond Fed manufacturing and home price indices are also scheduled, plus a speech by the US Federal Reserve (Fed) Vice Chairman, Stanley Fischer. On the political front, Democrat Hillary Clinton emerged as a clear winner in the first US Presidential debate. In the UK, the Confederation of British Industry’s (CBI) distributive trades survey will be released in a few hours, and we can also tell you that the German import price index has registered a decline for August.

  • A Political and Economic Concoction Scheduled Today in the US
    September 26th, 2016

    A Political and Economic Concoction Scheduled Today in the US

    This week looks set to take investors on a roller-coaster ride with a perfect dose of political and economic events packed together. Democrat Hillary Clinton and Republican Donald Trump square off today in their first televised debate, as they sit neck and neck in the polls. In the US economic calendar, new home sales, the Dallas Fed index and a speech by the Federal Reserve’s (Fed) Daniel Tarullo are all scheduled for today. In the UK, the just released data showed that the nation’s BBA mortgage approvals dipped further in August. The German Ifo survey delivered an upbeat tone across all of its components during the current month. European Central Bank (ECB) President, Mario Draghi, and ECB board member, Ewald Nowotny, will deliver speeches later today.

  • Several PMI readings announced in Eurozone today
    September 23rd, 2016

    Several PMI readings announced in Eurozone today

    After following the monetary policy decisions of 3 top central banks, investors end the week pondering some important macroeconomic global data points. For starters, private sector activity in the Eurozone and Germany dropped in September, and at the same time, the French manufacturing and services purchasing managers’ indices (PMI) exceeded expectations. There are no economic releases for the UK today, but in America the preliminary manufacturing PMI reading for September is due.

  • Bank of England and European Central Bank both make speeches today
    September 22nd, 2016

    Bank of England and European Central Bank both make speeches today

    Today is a busy day for market participants everywhere. Along with a slew of economic data points, there are also a couple of speeches by central bankers scheduled today. In the UK, an early estimate of Britain’s macro profile for September can be viewed via the Confederation of British Industry’s (CBI) industrial orders survey data. In the Eurozone, a flash reading of the region’s consumer confidence index will be unveiled, while in the US, the Chicago Fed national activity index and existing home sales deserve close attention. The market will listen closely to speeches by the European Central Bank (ECB) President, Mario Draghi, and the Bank of England (BoE) Governor, Mark Carney.

  • Will the US Fed raise the interest rate today or not?
    September 21st, 2016

    Will the US Fed raise the interest rate today or not?

    Once again the question raises its head - will the US Federal Reserve (Fed) raise the interest rate at today’s meeting? But the main focus will be on the Fed Chairwoman, Janet Yellen, in her post-meeting speech. Investors will scrutinise her statement to see whether she maintains her hawkish views from the Jackson Hole symposium. Alongside the policy statement, Fed officials will also provide a new set of forecasts for economic growth, unemployment, inflation and the future path of interest rates. On the economic data front, US weekly mortgage applications is up for release today. In the UK, the just out data showed that UK’s public sector net borrowing registered a deficit in August. It is a quiet day for economic releases in the Eurozone.

  • Subprime Mortgages Alert: Deutsche Bank in Trouble. Is RBS Next?
    September 21st, 2016

    Subprime Mortgages Alert: Deutsche Bank in Trouble. Is RBS Next?

    Americans say that history goes full circle. The financial crisis of 2008 is unfortunately coming back to haunt us. On 15 September 2016, the Deutsche Bank was fined for mortgage-backed securities relating back to the financial crisis.

  • US Fed monetary policy meeting starts today
    September 20th, 2016

    US Fed monetary policy meeting starts today

    The US Federal Reserve’s (Fed) 2-day monetary policy meeting starts today. Afterwards there will be a press conference with the Fed Chairwoman, Janet Yellen, who will talk about the state of the US economy. Market participants will prep themselves on the latest economic releases prior to the much-awaited event. There’s not much scheduled economic news from the rest of the world today – nothing from the UK, but German producer prices have registered a decline for August. America will release its housing starts and building permits information, both for the month of August.

  • Should we Worry about the Bank of England’s QE and Interest Rates?
    September 19th, 2016

    Should we Worry about the Bank of England’s QE and Interest Rates?

    The Bank of England feels good about the economy. (Hurrah!) In this last meeting of the month, it voted to leave interest rates at 0.25% and its Quantitative Easing (QE) programme the same. It will continue buying up to £10bn in corporate bonds and £435bn in government bonds.

  • Bank of Japan and US Fed monetary policy meetings control the market this week
    September 19th, 2016

    Bank of Japan and US Fed monetary policy meetings control the market this week

    This week contains 2 crucial market-moving events – The Bank of Japan (BoJ) and the US Federal Reserve’s (Fed) monetary policy meetings. Investors do not expect the Fed to raise the interest rate at the conclusion of its 2-day meeting. However, they will scrutinise the central bank’s post monetary policy statement for hints on the timing of the next rate rise. Meanwhile, the BoJ is anticipated to expand monetary easing when it meets this week. Today, there is nothing worth mentioning from the UK. In the Eurozone, current account surplus narrowed in July, while the region’s construction output data is scheduled for release shortly. Across the Atlantic, the US NAHB housing market index will be shared later today.

  • Blackout on public comments from US Fed members
    September 16th, 2016

    Blackout on public comments from US Fed members

    The US data calendar commands attention during the final hours of this trading week. The nation’s consumer price index (CPI) and consumer confidence report is scheduled for release later today. The core annual inflation rate is expected to hold steady for August. With the crucial Federal Reserve (Fed) policy meeting next week, the Fed has imposed a blackout period on public comments by its members. Thus market participants will find ample time to digest today’s economic releases, without being distracted by comments from Fed members, who have done little to clarify the central bank’s monetary policy plans for the remainder of the year. There is nothing worth mentioning data wise from Britain today. In the Eurozone, data released earlier in the day showed that the Italian trade surplus widened in July.

  • Spotlight on the Bank of England interest rate decision
    September 15th, 2016

    Spotlight on the Bank of England interest rate decision

    The Bank of England (BoE), takes centre stage today, with its monetary policy meeting scheduled to be held in a few hours. The central bank is expected to remain on hold following the rate cut introduced just last month, in the wake of Brexit vote. On the data front, UK’s retail sales dropped less than expected for August. Today’s session looks busy throughout the day, with plenty of data points from the US and Euro region yet to see the light. In the Eurozone, trade balance and consumer price index (CPI) data will attract a lot of market attention. Across the Atlantic, the US data docket is filled to the brim. A string of data releases such as retail sales, weekly jobless claims, industrial production and existing home sales, to name a few, are on tab today.

  • UK Inflation: Why should we care?
    September 15th, 2016

    UK Inflation: Why should we care?

    Sometimes no change is a good thing. For Monday’s (13/09/2016) UK inflation report, this was good news. Data from the Office for National Statistics (ONS) showed that the inflation rate remained the same at 0.6% last month.

  • UK unemployment rate holds steady
    September 14th, 2016

    UK unemployment rate holds steady

    Today there are a plethora of economic releases from all across the globe which will keep the investors busy. In the UK, the just released data showed that unemployment rate held steady during the 3 months to July. However, the nation’s jobless claims registered an increase for August. In the Eurozone, investors await the region’s industrial production data for July, due in some time. Across the Atlantic, market participants look forward to the release of the US weekly mortgage applications and import price index data for August.

  • ECB President Mario Draghi makes a speech later today
    September 13th, 2016

    ECB President Mario Draghi makes a speech later today

    Today brings with it a whole host of economic releases. All across the globe, economic calendars are buzzing with data – some have already seen the light while others are waiting to unfold. In Britain, the just out data showed that consumer prices rebounded less than expected in August. In the Eurozone, German consumer price index (CPI) registered a flat reading for August. The Eurozone and German ZEW surveys, and the European Central Bank (ECB) President Mario Draghi’s speech, are all due in some time. The US data docket is significantly lighter with the NFIB small business optimism survey results.

  • Slow start to a whirlwind week
    September 12th, 2016

    Slow start to a whirlwind week

    This week’s global economic calendar starts out relatively quiet, but heats up considerably towards the end of the week. Market participants will continue to peruse economic reports from the US, to gauge if the world’s largest economy is strong enough to withstand another interest rate increase later this month - spotlight is on the nation’s retail sales and inflation data. Additionally, traders will eagerly watch the Bank of England (BoE) monetary policy meeting, to see whether the central bank plans to increase monetary stimulus in the wake of Brexit. Today, the UK and Eurozone economic data is light. Across the Atlantic, investors await a hastily-scheduled speech by the Federal Reserve (Fed) Governor, Lael Brainard, before the central bank officials go into blackout mode ahead of the Federal Open Market Committee’s meeting next week.

  • We End the Week on a Lighter Note
    September 09th, 2016

    We End the Week on a Lighter Note

    There is no significant economic data scheduled for today. With the European Central Bank (ECB) out of the way, focus now shifts back to the Federal Reserve’s (Fed) monetary policy meeting, due later this month. The just out data showed that the UK’s goods trade deficit narrowed in July, as did Germany’s trade surplus after exports unexpectedly recorded their steepest fall in almost a year. Across the Atlantic, the US wholesale inventories data is due today along with a speech by the Boston Fed President, Eric Rosengren.

  • Frexit, Brexit and the Euro Crisis?: ECB, QE and Mario Draghi
    September 09th, 2016

    Frexit, Brexit and the Euro Crisis?: ECB, QE and Mario Draghi

    You must have heard of the Nintendo video game Super Mario. Well, in the Super Mario universe, aka the Mushroom kingdom, the Italian plumber, Super Mario, with his sidekick—brother Luigi, is trying to rescue Princess Peach from Bowser. Meanwhile…

  • ECB Will Rule the Roost Today
    September 08th, 2016

    ECB Will Rule the Roost Today

    The day has begun in a calm manner, with not much activity on the global economic calendar. However, this tranquility is not likely to continue throughout the day. The major market moving event for today, i.e. the European Central Bank’s (ECB) monetary policy decision, is waiting to unfold. The ECB is not expected to introduce any change in the key interest rate, but is likely to make a few adjustments to the parameters of its quantitative easing programme. The UK data docket is devoid of economic releases today. Across the Atlantic, the US weekly jobless claims and consumer credit change data is awaited.

  • Get Set for a Barrage of Data Points Today!
    September 07th, 2016

    Get Set for a Barrage of Data Points Today!

    The global economic calendar is jam-packed today. Crucial economic data points and events from all over the world will make market participants sit up and take note as it all unfolds. First up is the data deluge from the Eurozone and the UK. In Germany, industrial production recorded its weakest performance since August 2014 in July. On the other side of the English Channel, investors will be glued to their seats as economic releases unwind in quick succession. The just out data showed that the UK’s industrial production surprisingly rose in July. In a few hours, the Bank of England (BoE) Governor, Mark Carney, will testify before a parliamentary committee in London. Later today, the UK will face a reality check as the nation’s reputed think-tank, NIESR, releases GDP estimate for the 3 months to August. In the US, today’s release of the Federal Reserve’s (Fed) Beige Book report might shed some additional light on the outlook for interest rate.

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