2015 the year of consumer confidence

22 December, 2015

Oil prices remain anchored and are giving consumer confidence a boost. Yesterday saw data across Europe come in better than expected and overnight UK consumer confidence showed a reading of +2, up from +1 in the month of November and higher than expected, but still someway off the highs of earlier in the year. What is remarkable is how this is the first time since the GfK survey started over 40 years ago that the measure has remained in positive territory for an entire calendar year. If ever there was an indication of how tumbling oil prices make consumers feel better about themselves this is it. However, this is not the reason why we are seeing a little bounce in sterling or why equities are expected to open firmly in the black this morning. These moves are more a reflection of dwindling volumes leading to heightened volatility as we move closer to Christmas, as well as a recovery in US stocks towards the close last night. For the FTSE 100 the 5900 and more psychological 6000 level continues to hold up and whilst this December has not conformed to history these levels could remain intact into year end.

On the economic calendar today we see US GDP and existing home sales which may cause some movement in what is a slightly weaker US dollar so far this morning, but there aren’t expected to be any fireworks.


Source link  
Markets pressured by Huawei problem

Alphabet and some other American IT companies have suspended business with Huawei, which is one of the first examples of major consequences for...

The climate is changing rapidly

British people need to fly less, drive electric cars, eat little meat and turn their home thermostats down to 19 degrees Celsius (66 Fahrenheit) in order to rein...

Chinese stocks saw their worst week

Chinese stocks have taken investors on a ride this year. Shanghai and Shenzhen have been the best performing global markets this year, with the Shanghai...


Risk-sensitive currencies on the rise

Stock markets show growth after the release of strong data for China and Japan as their respective PMIs were better than expected which supported...

Trump again puts pressure on OPEC

President Donald Trump told OPEC on Thursday that its members should start pumping more oil, marking his second warning to the producer group this year...

Turkish lira fell by 5% before elections

The Turkish lira dropped by as much as 5 percent against the dollar on Thursday morning, as the country gears up for elections this weekend. The greenback...


May won't ask for a long Brexit delay

Prime Minister Theresa May won't ask the European Union for a 'long' delay to the Brexit deadline, her office said, after pro-Brexit ministers objected...

Demand for safe assets grows

Markets remain under moderate pressure, despite the Fed comments. Powell's semi-annual speech in Congress reinforced expectations that the US Central Bank...

US-China trade talks: deadline postponed

China's blue-chip index jumped more than 6% on Monday morning on news that Trump would postpone of the tariff's introduction. The U.S. President...

  


Share it on:   or