EUROPEAN SHARES Shares edged slightly higher in Europe on Wednesday despite a mixed session in Asia overnight fuelled by simmering Sino-American tensions. While investors now expect fresh US sanctions as a reply from the Trump administration to China’s behaviour towards Hong Kong, it certainly hasn’t killed the optimistic mood reigning on markets right now. Developments…
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OIL The oil price is consolidating, while the July expiry is challenging its recent high of $34.50. The positive mood seen in the stock markets is pulling oil up with markets now revising downwards the risks from coronavirus. The current price seems to reflect that markets are viewing the risk of a second wave as…
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Key data points Bold indicates the most important release for this symbol. Thursday 28 May, 12.30 GMT: Canadian current account (Q1) - consensus negative C$10 billion, previous negative C$8.76 billion Friday 29 May, 6.00 GMT: British annual national housing prices (May) - consensus 2.8%, previous 3.7% Friday 29 May, 12.30 GMT: Canadian annualised GDP growth…
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GOLD Gold remains in a positive technical environment, despite price declines seen yesterday. Evidence of resilience in bullion markets has been seen this morning, with a good number of investors prepared to buy into dips and seemingly not worried by price corrections. Technically, spot prices have fallen in the intraday trading below the support zone…
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OIL The oil price is slowing down after the recent rally which lifted the July expiry well above $30. Investors seem much more confident that the demand will slowly recover and the filled-up tanks were most likely an exceptional event. These elements helped drive the price higher although it is now modestly declining as we…
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EUROPEAN SHARES Benchmarks in Europe are struggling to extend yesterday’s gains, which was sparked by optimism about a possible vaccine against Covid-19. However, yesterday’s euphoria is now nuanced by today’s uncertainty as investors brace themselves for the Fed Chairman Jerome Powell’s speech, which will provide them with more clues on the state of the recovery…
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Key data points Bold indicates the most important release for this symbol. Tuesday 19 May, 20.30 GMT: API crude oil stock change: previous 7.6 million Wednesday 20 May, 14.30 GMT: EIA crude oil stock change: previous negative 750,000 Friday 22 May, 17.00 GMT: Baker Hughes Oil Rig Count: previous 258 Euro-pound, daily The upside seems…
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EUROPEAN SHARES Shares traded higher from Tokyo to London on Monday as investors start the week on an optimistic note as major economies reopen. All European benchmarks registered a bullish opening with mining and energy shares among today’s top movers with market sentiment fuelled by fresh hopes of a global recovery. However, even if the…
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FTSE 100 sinks heavily after Fed chair speech, OBR figures London-listed stocks sank sharply yesterday following Federal Reserve chairman Jerome Powell’s downbeat speech in the US on Wednesday. Additionally, in the UK, the Office for Budget Responsibility reported that the cost of government interventions to aid the economy will lead to a budget deficit of…
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EUROPEAN SHARES European markets showed volatility as they edged higher on Friday as traders weighed up the mixed data from China overnight. Investors were pleased to see the Chinese Industrial Production topping estimates for April but were disappointed by the drop in Retail Sales which highlighted the weakness of demand in almost every sector, and…
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