Temporary return of risk appetite

5 October, 2015

Risk assets are to be given a boost this morning following a very strong end to the week for US indices last Friday and a buying frenzy in Asia overnight. Even Glencore, the recently much unloved stock that was looking like it was going to be the commodity sector’s first ever Lenham Brothers, is rallying strongly up over 12% at the time of writing, firmly back above the 100p level at the open in London’s session. The return of investor appetite has been fuelled by last Friday’s poor nonfarm payroll data which pushed the expectations of a December interest rate hike out causing dollar weakness and a spike in US Treasuries.

This week the focus remains on central banks with the Bank of England set to announce its rate decision on Thursday where the focus will be on whether any other hawks join the lone voter Ian McCafferty calling for a hike in rates. Today sees the usual beginning of month services PMI survey data for the Eurozone and UK, as well as Eurozone retail sales and then we get services PMI from across the pond later this afternoon. It will be interesting to see how these PMIs are faring in the current environment as even before the recent turmoil in the financial markets some survey data was starting to soften.


Source link  
USD Bounces From Month Low

Trump administration has presented its 2018 budget plan to Congress last evening. The budget plan calls to slash $3.6 trillion...

Dollar index hit a new low

The dollar index hit a new post presidential election low of 96.95 on Friday May 19th. EUR/USD hit a high of 1.1211...

USD Hit Post Election Low

To date the dollar index has almost given up all of the post presidential election rally...


BoE Expected to Keep Rates Steady

ECB Governor Draghi will make a speech in the Dutch Parliament at 12:00 BST today. It will be Draghi first speech...

Trump's Tax Reform Plan

US Treasury Secretary Mnuchin announced Trump’s tax reform plan in a press conference...

Corporate Earnings Lift US Stocks

Last week the US President Trump stated on twitter...


Market Concerns Eased

The first-round voting of the French presidential election was revealed on Sunday night...

Dollar Plunged on Trump Second Statement

The dollar index fell to a 2-week low of 99.91 in the early hours...

Markets Eye on the First Trump-Xi Meeting

US President Trump and Chinese president Xi Jinping, are scheduled to meet today at Trump’s Mar-a-Lago resort in Florida...

  


Share: