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July 4, 2016
Despite the election uncertainty resulting from the weekend, the ASX (Australian Stock Exchange) closed better; as did the currency. ASX closed up 0.65%, having suffered an opening wobble but the AUD will be eagerly watched at the RBA meeting – was last seen up 0.6% in late European trading. The Nikkei opened lower but managed a […]
July 1, 2016
The first day of the second half of 2016 and it starts with a whimper. Yes, The Nikkei and Shanghai were marginally better bid (China PMI marginally lower 50 v’s 50.1 previously) but with the Hang Seng closed there was really not that much to write home about. The Japanese data was a little better and we saw a […]
June 30, 2016
With the exception of the firmer Hang Seng (+1.75%), core Asia was pretty much mooted. The big news today was BREXIT again when Boris Johnson withdrew his name for potential Conservative Leader. This comes on the tail of Michael Gove declaring his willingness to throw his hat in the ring. Markets were firmer (around +0.5%) […]
June 29, 2016
Asia performed well in what appeared to be trading in shadows the majority of the day. Rumors that the PBOC were about to cut rates saw a rally in Shanghai (+1%) only to drift off the highs by the close. Rumors of more BOJ easing (attempting to put even 40yr bonds into single digits). It […]
June 28, 2016
The Nikkei had a poor start but finished better as did Shanghai. HSI closed a little lower (-0.3%) but well up from opening levels. Europe was the main talking point yet again today and with a healthy bounce in both currencies and equities; many people spoke of nothing else. After suffering two awful days, we […]
June 27, 2016
As we expected weekend headlines would dictate Monday’s trading and that is exactly what we have seen. The GBP continues to fall spreading uncertainty and confusion around the globe. In the UK the opposition party (Labour Party – known as the Shadow cabinet) saw ten members resign on Sunday and an additional nine members resign […]
June 26, 2016
Brussels simply went too far. They crossed the line after moving from an economic union to a political subordinate of Europe. Now, six more countries want to hold referendums to exit the EU; France, the Netherlands, Italy, Austria, Finland, and Hungary all could leave. With Hollande’s approval rating at about 11%, Merkel is lucky […]
June 24, 2016
Interesting price action – it is the UK that is leaving Europe and yet we saw the DAX fall 6.8%, CAC -8.35% and IBEX down 12.35% whilst FTSE declined just 2.8%! Bank share were hit everywhere with some of the large institutions (Deutsche Bank, Barclays and RBS) falling between 14 and 18%. The afternoon behaved […]
June 23, 2016
A somewhat mixed and quiet session for Asia, which was really to be expected. JPY traded between 104 and 106 for the majority of Asian and European time zones, edging towards the 106 level as Europe closed. The Nikkei benefitted most of the day on the back of the last poll seen ahead of the […]
June 22, 2016
A mixed session in Asia as the Nikkei could not escape negative territory, whilst Shanghai and the Hang Seng both provided positive returns. The Nikkei lost 0.65% while Shanghai and HSI gained 0.95% and 0.6% respectively. The JPY flirted with a 105 handle but was rejected and that rejection has gathered pace as European equities […]