Mayday May-day?

  What May the pound do? PM May is due to meet the 1922 Committee, a group of Conservative backbenchers, today and there is widespread speculation that she would give a definite timeline for her resignation. While some are clamouring for an immediate departure, it would require an amendment to existing rules and regulations governing […]

A bonfire of vanities

Prepared by Jeff Halley, Senior Market Analyst A bonfire of vanities It’s taken quite a while, but finally, markets appear to be starting to price in the effect of an extended US-China trade war on global growth. The two strongest bastions of denial – the equity and oil markets – led the way as oil […]

Crude prices tumble further

  WTI hits nine-day low The huge increase in crude oil inventories as at May 17 reported last night by the Energy Information Administration (EIA) was enough to send crude oil prices crashing. The 4.74 million barrels added to stockpiles was well above the near 600,000 analysts had expected and could imply a slackening in […]

Sell May and go away

Prepared by Jeff Halley, Senior Market Analyst   Sell May and go away The old stock investing adage of “sell in May and go away” took a distinctively British turn last night, with UK Prime Minister Theresa May’s tenure on its last legs after her latest Brexit proposal was shot down in flames by all […]

Daily Markets Broadcast 2019-05-23

Daily Markets Broadcast 2019-05-23 Wall Street slides on trade war worries Tuesday’s relief rally proved to be fleeting, with US indices resuming their recent slide yesterday with no deal in sight in the US-China trade negotiations. Oil prices fell as inventories increased.   IUS30USD Daily Chart The US30 index fell yesterday amid reports that the […]

Markets steady after a weak week

  Most markets still in the red, despite rebound Friday’s action was one of consolidation in the Asian session, with most assets classes still in the red for the week, despite the rebound seen in the last few days. The US30 index is down 0.33% on the week after bouncing off the 55-week moving average […]

Daily Markets Broadcast 2019-05-17

Daily Markets Broadcast 2019-05-17 Note: The Daily Market Broadcast will pause on 20 May 2019 and resume on 21 May 2019 Wall Street extends gains US indices advanced for a third day yesterday, helped by better-than-expected data and some strong earnings reports from Wallmart and CISCO, while ignoring the tensions in the US-China trade talks. Australia […]

Fluid situations

Prepared by Jeff Halley, Senior Market Analyst   Fluid situations Global markets took an upbeat tone overnight, preferring to concentrate on known knowns rather than known unknowns or unknown unknowns. Following Washington’s decision to place Huawei on a blacklist that could ban them from sourcing vital US technology if enacted, the street appears to have […]

Daily Markets Broadcast 2019-05-16

Daily Markets Broadcast 2019-05-16 Wall Street encouraged by prospect of tariff delay Reports circulated yesterday that President Trump was considering a delay in imposing tariffs on European car imports, which could have come in to effect at the weekend. US indices staged a relief rally despite a weak set of US economic data. Today’s Australian […]