Daily News

UK exports hit record high in October

UK exports hit record high in October

December 09th, 2016

With the European Central Bank (ECB) out of the way, investor attention has now turned back towards the US. As the Federal Reserve’s (Fed) policy-setting committee meets next week, the possibility of the Fed increasing interest rates has been almost fully priced in by the market and now clues about the monetary policy in 2017 is awaited. On the data front, today, trade figures from both sides of the English Channel crossed the wires. In Britain, goods trade deficit narrowed as exports surged to a record high and German exports recovered in October. Reports on consumer sentiment and wholesale inventories are due to be released from the US data docket later today.

  • Fighting for Brexit: The Government at the Supreme Court Hearing
    December 07th, 2016

    Fighting for Brexit: The Government at the Supreme Court Hearing

    Nigel Farage might have threatened to lead a protest march of 100,000 Brexiters to the Supreme Court, but on Monday the number of Europhile protesters outnumbered that of Brexiters.

  • UK’s Latest NIESR GDP Estimate Awaited
    December 07th, 2016

    UK’s Latest NIESR GDP Estimate Awaited

    After a brief lull, yesterday, the British economic calendar appears to be overly active today. First out, a report by UK’s mortgage lender Halifax showed that growth in British house prices rose in line with investor expectations. The just released data showed that UK’s industrial, as well as manufacturing production, surprisingly dropped in October. Further ahead, the NIESR gross domestic product (GDP) estimate for three months to November is scheduled to be released in a few hours. On the other side of the English Channel, the Eurozone economy looks to be in a wait-and-see mode ahead of the European Central Bank’s (ECB) monetary policy meeting tomorrow. One of the few data releases to cross the wire today is German industrial production, which advanced at a less than anticipated pace in October. Later, the US economy will spring into focus with weekly mortgage applications and JOLTS job openings data.

  • Italian Matteo Renzi’s Defeat in Referendum and the Rise of Populism
    December 06th, 2016

    Italian Matteo Renzi’s Defeat in Referendum and the Rise of Populism

    There is an infectious contagion of an almost religious zeal and a resurgence of a devout belief against anything that signifies tolerance and openness and is taking hold of people across Europe and America.

  • Eurozone economy in the Spotlight Today
    December 06th, 2016

    Eurozone economy in the Spotlight Today

    The Eurozone’s third quarter revised gross domestic product (GDP) is up for release today. Meanwhile, German factory orders registered a strong rebound for October. In the UK data docket, a report by the British Retail Consortium (BRC) showed that British retail sales slowed in November from October. Also, the UK Supreme Court hearing on the government’s Brexit appeal continues today. In the US, trade balance, IBD/TIPP economic optimism index and durable goods orders data will take centre stage later in the day.

  • Europe at Risk: Italian Referendum Rejected as Brexit Supreme Court Case Begins
    December 05th, 2016

    Europe at Risk: Italian Referendum Rejected as Brexit Supreme Court Case Begins

    The week ahead is filled with risk events. An immediate start out of the gate is the result of the Italian Referendum vote held over the weekend. Italians rejected the nation’s constitutional overhaul and are now left staring at political turmoil and a burgeoning banking crisis. Italy is the Eurozone’s third largest economy and it is in for a bumpy ride ahead. Other key event today is the UK Supreme Court hearing on the government’s appeal of the Brexit vote. Looking ahead, the European Central Bank (ECB) is scheduled to hold its monetary policy meeting later this week. The just out data showed that UK’s Markit services purchasing managers’ index (PMI) unexpectedly advanced to a 10-month high in November. Meanwhile, the Eurozone’s final services sector PMI surprisingly declined last month. Later today in the US, the ISM non-manufacturing PMI for November would be awaited.

  • Brexit Shockwave: Lib Dems Win Richmond Park By-Election
    December 05th, 2016

    Brexit Shockwave: Lib Dems Win Richmond Park By-Election

    On Friday (2 December), Sarah Olney of the British Pro-European party, the Liberal Democrats, won a parliamentary seat by beating the Conservative party’s Zac Goldsmith in Richmond Park.

  • Europe’s Next  Big Threat: Italy’s Looming Referendum
    December 02nd, 2016

    Europe’s Next Big Threat: Italy’s Looming Referendum

    The US and Italy will command maximum attention as this week draws to a close. Later today, the US Labour Department is scheduled to release its more closely watched monthly nonfarm payrolls report for November. Upbeat data from the US docket in the second half of 2016 have increased the odds of an interest rate rise by the Federal Reserve (Fed) at its December meet. Moreover, the optimistic ADP figures published earlier this week show less likelihood for a disappointment in today’s report. In the UK, the just released construction purchasing managers’ index (PMI) surprisingly rose in November. This weekend, the dreaded word “REFERENDUM” raises its ugly head again. However, this time it is on the other side of the English Channel – Italy. The Eurozone’s 3rd largest economy holds a referendum on key constitutional changes that aim to slim down the country’s legislature and speed up lawmaking. Prime Minister Matteo Renzi has pledged to resign in the case of a “No” vote.

  • Confidence in Britain’s Manufacturing Sector Dips in November
    December 01st, 2016

    Confidence in Britain’s Manufacturing Sector Dips in November

    Today seems to be another busy day for global economy watchers. Starting with the UK, the just released data showed that the nation’s Markit manufacturing Purchasing Managers’ Index (PMI) declined in November. Meanwhile in the Eurozone, final manufacturing PMI recorded its highest reading since January 2014, while the German final manufacturing growth came in slightly below the flash reading for November. Going ahead, investors await the Euro region’s unemployment rate data for October along with the Italian third quarter gross domestic product (GDP) data. Later, the focus turns towards US data. Key releases on schedule are the ISM manufacturing index and weekly jobless claims. Separately, at yesterday’s Vienna meet, the OPEC nations agreed to trim production for the first time in 8 years.

  • BoE’s Mark Carney: UK is the “Investment Banker for Europe”
    December 01st, 2016

    BoE’s Mark Carney: UK is the “Investment Banker for Europe”

    The Bank of England (BoE) gave a press conference to present its latest financial stability report and explain its bank stress tests. The Bank’s governor, Mark Carney, shed some light on the UK’s financial stability and how the country will be affected by significant changes caused by Brexit and the Trump trade wars.

  • Revelation: Confidential Brexit Notes Show UK Won’t Stay in Single Market
    December 01st, 2016

    Revelation: Confidential Brexit Notes Show UK Won’t Stay in Single Market

    Handwritten notes photographed in the hands of Julia Dockerill, chief of staff to vice-chairman of the Conservative party, Mark Field, reveal that it’s “unlikely we’ll be offered single market.”

  • BoE’s Mark Carney Warns of Global Threats to UK’s Financial Stability
    November 30th, 2016

    BoE’s Mark Carney Warns of Global Threats to UK’s Financial Stability

    The global economic calendar is chock-a-block with economic data today. The UK’s GfK consumer confidence index dropped further in November. Moreover, the Bank of England (BoE), in its latest financial stability report, warned that the outlook for Britain’s financial stability remains challenging. In the Eurozone, data showed that German retail sales rebounded to a 5-year high in October. Going ahead, market participants await the Eurozone’s preliminary consumer price index (CPI) data for November along with a speech by the European Central Bank (ECB) President, Mario Draghi. In the US, investors are looking to a handful of economic indicators including inflation news and the Federal Reserve’s Beige Book survey, a thermometer of the economy’s health. Additionally, trading today will be impacted by a key meeting of the Organisation of Petroleum Exporting Countries in Vienna later today.

  • Eurozone Eco-stats in Focus Today
    November 29th, 2016

    Eurozone Eco-stats in Focus Today

    The Euro is likely to witness a more data-influenced movement today as various key Eurozone eco-stats feature in the economic calendar today. A few of these data releases have already crossed the wires. Data showed that German import price index advanced less than expected in October. Looking ahead, market participants await the release of German consumer price index (CPI) along with the Euro zone’s consumer confidence index, due in a few hours. Meanwhile in the UK, the just released data showed that the nation’s net consumer credit and mortgage approvals surpassed investor expectations for October. Later in the day, the US provisional Q3 GDP figures are up for release. Separately, the Organisation for Economic Cooperation and Development (OECD), in its latest outlook report, provided a modest upward push to projected global growth for the next two years.

  • Brexit​ ​Fight:​ ​Can​ ​we​ ​Leave​ ​the​ ​EU​ ​But​ ​Stay​ ​in​ ​the​ ​Single​ ​Market?
    November 29th, 2016

    Brexit​ ​Fight:​ ​Can​ ​we​ ​Leave​ ​the​ ​EU​ ​But​ ​Stay​ ​in​ ​the​ ​Single​ ​Market?

    We’ve​ ​heard​ ​politicians​ ​and​ ​economists​ ​warning​ ​about​ ​the​ ​economic​ ​impact​ ​of​ ​Brexit.​ ​​A​ ​new​ ​report released​ ​on​ ​Monday​ ​(28​ ​November)​ ​found​ ​that​ ​major​ ​sectors​ ​of​ ​the​ ​UK​ ​economy​ ​would​ ​be​ ​affected​ ​if they​ ​lose​ ​access​ ​to​ ​the​ ​single​ ​market.​ ​It​ ​was​ ​commissioned​ ​by​ ​an​ ​alliance​ ​of​ ​Tory,​ ​Labour​ ​and​ ​Liberal Democrat​ ​politicians​ ​who​ ​are​ ​trying​ ​to​ ​halt​ ​a​ ​hard​ ​Brexit.​

  • 45​ ​pros​ ​and​ ​cons​ ​for​ ​Brits​ ​emigrating​ ​to​ ​Australia
    November 28th, 2016

    45​ ​pros​ ​and​ ​cons​ ​for​ ​Brits​ ​emigrating​ ​to​ ​Australia

    So, you’re contemplating a big move to Australia. Graduated and now the world’s your oyster? Got a great redundancy package and fancy doing something completely different? Want to move 10,000 miles away following the Brexit vote?

  • OECD and Mario Draghi to Command Attention Today
    November 28th, 2016

    OECD and Mario Draghi to Command Attention Today

    There are two key events in the global economic calendar today. First up is the Organisation for Economic Co-operation and Development’s (OECD) latest global economic outlook report which would provide analysis and projections about major economies. Next of significance today is the European Central Bank (ECB) President Mario Draghi’s speech before the European Parliament’s Economic Committee in Brussels. Market participants will look out for clues about the future of the ECB’s asset purchase programme. Apart from this, Eurozone economy watchers also await the region’s consumer confidence index for November. The British economic calendar appears data-empty today. Across the Atlantic, the Dallas Federal Reserve’s (Fed) manufacturing business index is up for release later in the day.

  • John​ ​Major:​ ​Yes,​ ​to​ ​Second​ ​Brexit​ ​Referendum,​ ​Shame​ ​to​ ​Brexiteers
    November 28th, 2016

    John​ ​Major:​ ​Yes,​ ​to​ ​Second​ ​Brexit​ ​Referendum,​ ​Shame​ ​to​ ​Brexiteers

    After​ ​Tony​ ​Blair’s​ ​comments​ ​on​ ​the​ ​possibility​ ​of​ ​blocking​ ​Brexit​ ​yesterday,​ ​Sir​ ​John​ ​Major,​ ​the​ ​former Prime​ ​Minister,​ ​is​ ​now​ ​saying​ ​that​ ​there​ ​is​ ​a​ ​“credible”​ ​case​ ​for​ ​a​ ​second​ ​EU​ ​referendum.​ ​“The​ ​tyranny​ ​of the​ ​majority”,​ ​can’t​ ​dictate​ ​Brexit,​ ​he​ ​added.

  • British Q3 GDP Meets Expectations
    November 25th, 2016

    British Q3 GDP Meets Expectations

    The second estimate of UK’s third quarter gross domestic product (GDP) just crossed the wires and didn’t spring up any surprises as it came in line with expectations. Further ahead, market participants await the Confederation of British Industry’s distributive trades survey data, due in a few hours. In the Eurozone, French consumer morale remained steady at a 9-year high level in November. Across the Atlantic, back from the holidays, investors look forward to the release of US advance goods trade balance and Markit services PMI later today.

  • Trump​ ​in​ ​Office:​ ​100​ ​Days​ ​of​ ​Twitter​ ​and​ ​YouTube​ ​Messages
    November 25th, 2016

    Trump​ ​in​ ​Office:​ ​100​ ​Days​ ​of​ ​Twitter​ ​and​ ​YouTube​ ​Messages

    On Monday (21 Nov.), Donald Trump released a YouTube video in which he outlines his policy plans for the first 100 days in office. While the traditional way is to give a press conference, Trump used a YouTube video to communicate his views, “bigly”, as he would say. He thinks mainstream media are dishonest and prefers social media.

  • Tony Blair: Brexit Could Be Stopped
    November 25th, 2016

    Tony Blair: Brexit Could Be Stopped

    “But this is what I keep saying to people. This is like agreeing to a house swap without having seen the other house … You’ve got to understand, this has been driven essentially ideologically,” Tony Blair said about the Brexit decision in an interview to the New Statesman, published on Thursday (24 Nov.).

  • Little​ ​House​ ​on​ ​the​ ​Prairie​​ ​and​ ​Farage’s​ ​American​ ​Dream
    November 25th, 2016

    Little​ ​House​ ​on​ ​the​ ​Prairie​​ ​and​ ​Farage’s​ ​American​ ​Dream

    Who doesn’t remember the opening sequence of Little House on the Prairie (1983), with its characteristic music and images of green pastures and little girls running down the hill with their dog. Such images establish the values of a bygone era: of innocence, family and the American West as the origin of the American character, created through hardship and resilience.

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