Daily Commentary 01/03/2016

Equity markets were steady, to open the week, as Oil prices consolidated. Much of the action focused around anticipated Central Bank action. EU CPI contracted 0.2%, reflecting the failed growth prospects in a zone which is under siege from a flood of refugees. The lack of inflation has led to further speculation of extended QE…

Daily Commentary 29/02/2016

Equities had a positive week, despite a slip to close, reaffirming a risk off week. The G20 meets in China which should provide a stage for actors. The behind the scenes conversations will be of more portent but will likely be hidden. The coming week is a smorgasbord of economic data interrupted by Central Bank…

Daily Commentary 26/02/2016

Equities rallied again overnight, following the reversal in US on the previous nights close, supported by Durable Goods Orders. The DGO jumped 4.9%, which is a reflection of consumer confidence, investing in big ticket items. The Dollar was steady, with the JPY holding 112.75, while the EUR held 1.1000. The ‘Brexit’ remains the major influence…

Daily Commentary 25/02/2016

Stocks continued to lose ground overnight, after recent weakness, undermined by volatile energy prices and soft economic data. Services PMI, in the US was lower, adding to the lack of confidence in the markets. Financials are taking a big hit on equity markets, due mainly to exposure to the energy sector, highlighted by JP Morgan…

Daily Commentary 24/02/2016

Oil prices retreated, with global market confidence, as the Saudi Oil Minister confirmed no cuts in production expected. Equities gave up the gains from the open of the week, with risk on pressures, pushing the JPY back to 112.00. US Home Prices edged higher and Existing Home Sales also crept up. German GDP increased 0.3%,…

Daily Commentary 23/02/2016

Equity markets continued to rally to open the new week. The support and confidence came from resurgent commodity prices. Oil bounced to $32/barrel, supported by a positive report from the IEA, which noted a coming re-balance in supply and demand. This spread to other commodities, with copper and iron booking gains, a slight relief to…

Daily Commentary 22/02/2016

Markets were calm to close a relatively positive week in equities. Assistance from the ECB, in terms of rhetoric, has supported the contorted liquidity driving investment. Of interest, subtract share buy backs, investment would be negative!? Economic data has generally been soft, globally, so Central Bank commentary has driven market direction. The USD has staged…