Archive - April, 2014

Latest

The Federal Open Market Committee (FOMC) will release their policy update at 19:00 (BST) this evening. It is expected that Chair Janet Yellen will announce that they will taper the amount of monthly asset purchases by a further $10 billion. The asset purchases are split between Treasuries and Mortgage Backed Securities (MBS). Since the tapering begun under previous Chairman Bernanke, the FOMC has voted unanimously each month to reduce the purchases by $10bn; any deviation from this is…

Continue Reading →

The Office for National Statistics (ONS) has released its first estimate for UK growth for the last 3 months at 0.8% slightly below analysts’ expectations of 0.9% for the quarter. The UK economy has grown by 3.1% over the last year, the ONS says. That's the strongest year-on-year change in GDP since the Q4 of 2007, after the near-collapse of Northern Rock.Though the figure is "disappointing” compared to expectations the key point to remember is that is shows the economy…

Continue Reading →

The Office for National Statistics (ONS) released their March statistics for UK retail sales. The volume of sales edged up by 0.1% compared to February, a marginal improvement though the year-on-year figures were significantly higher, up 4.2% compared with March 2013. This difference has in part been attributed to the freezing cold weather that was experienced last year, which hampered sales. The headline for the release is that that the Non-Food stores saw the highest YoY increase (+9…

Continue Reading →

The Bank of England released the minutes of the Monetary Policy Committee meeting for the 9th April this morning. The MPC voted unanimously (9-0) to leave interest rates at the record low level of 0.50% and the level of asset purchases unchanged at £375bn. Following the release in the FX markets sterling has been choppy as some would have hoped that a member of the MPC might have voted for a raise in rates. Cable is trading at a 5 year high with traders betting on the economic gr…

Continue Reading →

The Office for National Statistics released the ILO Unemployment rate for the 3-months to February, which dropped to 6.9% from the previous reading of 7.1%. Employment was 239,000 higher than for September to November 2013 and 691,000 higher than a year earlier (ONS). The release shows a significant improvement in the unemployment rate, and poses a headache for the Bank of England. Mark Carney detailed under his forward guidance that the threshold for increasing interest rates would be the u…

Continue Reading →

The Office for National Statistics released inflation data for March this morning, showing that the Consumer Price Index (CPI) had fallen since February; 1.7% to 1.6%. The may contributors to this fall were from the costs of transport and food, with a small impact from clothing and household goods. The full ONS CPI release for March The Retail Price Index (RPI) grew by 2.5% in the year ending Mach 2014, down from 2.7% in February. The macro release should be a positive for…

Continue Reading →

The Bank of England has left interest rates at the record low of 0.50% to help stimulate the economy, following the financial crisis. There has been significant coverage in the media over the concerns of a new bubble emerging in property prices, specifically in London. The UK economy is beginning to fire on all cylinders (though unevenly) the focus is on the timing of the Bank of England’s raising of interest rates. The latest release from the Royal Institute of Chartered Surveyo…

Continue Reading →

The UK economy is growing, and recently releases of macros data have beaten economists’ expectations: According the Office for National Statistics (ONS), UK industrial output has surged significantly above economists’ expectations; production increased 0.9% in February, compared to January with expectations of a +0.3% increase. The better than expected data, gave sterling a bid in FX markets, surging to above 1.6700 to trade at session highs. The British Chamber…

Continue Reading →

MetaQuotes the MetaTrader 4 developers have released a new build for the mobile application on the 2nd April 2014. The new build 587 (Version 4.0.587), has a slightly different look that has been optimised for iOS7. According to update within the iTunes App stores the application has 24 new graphic objects for technical analysis: lines, channels, Gann and Fibonacci tools, Elliott Waves and geometric shapes. To update the new version of the mobile application, visit the app store…

Continue Reading →