Archive - July, 2014

The Bank of England Monetary policy Committee (MPC) minutes for the meeting held on the 9th and 10th July, were released at 9:30am London. The MPC voted 9-0 to leave interest rates unchanged at 0.50% and asset purchases (QE) at $375 billion. The minutes noted: “Economists polled by Reuters expected the first increase in February 2015, although they put roughly a 40% probability on it happening during the remainder of 2014.” “..risk appetite on the month, l…

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MetaQuotes the MetaTrader 4 software developers have update the award winning platform and Abshire-Smith are pleased to release build 670 to our clients. What are the changes to the platform? Virtual hosting clouds, instead of VPS Source: MetaQuotes, MetaTrader 4 build 670 Inbuilt market depth for the current trading symbol, to provide simple order management, to place limits and stops. Source: MetaQuotes 670 build press release Download the…

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The financial markets movement this week is likely to be dominated by the aftermath of the downed Malaysian Airways flight MH17 and the ongoing ground operation by Israeli troops in Gaza. The Ukrainian/Russian conflict was heightened after the passenger jet was downed in Ukraine, with global leaders quick to criticise, yet definite facts as to who is to blame are unclear. The likelihood of further sanctions to Russian countries, as a means of intervention unnerves investors.…

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The Office for National Statistics has released the monthly unemployment figures, with the headline UK ILO Unemployment figure for May was in line with expectations at 6.5%. This is the lowest unemployment rate since October to December 2008; this was just before a significant amount of redundancies began. Jobless claims fell by 36,600, which is higher than the estimated reduction of -27,000 jobs. Wage Data The disappointing part of the data was the wage growth, average earnings…

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The Office for National Statistics released the inflation data for June, with CPI increasing to 1.9%. Since the beginning of 2012, the CPI level had fallen from over 5%, down to 1.5% in May, which some analysts argued would reduce the pressure on the MPC increasing interest rates. The unexpected increase in inflation has put an immediate bid into sterling in the FX markets. Traders have bought Sterling on the basis that the potential first hike of interest rates will be sooner than the BoE&r…

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The Bank of England announced at 12:00 (London) that the Monetary Policy Committee has voted to leave interest rates unchanged at 0.50% and asset purchases at £375bn. This was the expectation of analysts leaving the announcement a near non-event, traders focus will be on the minutes for the meeting that will be released on the 23rd July and next month’s quarterly inflation report. Both will give traders an opportunity to gauge the MPC’s outlook for the all-important timing…

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UK manufacturing figures released on Tuesday by the Office for National Statistics, disappointed investors as they were well below expectations. Sterling has been riding high against the US dollar and Euro, has traders have digested the strong macro data, with the expectation the Bank of England will raise rates early than their current prediction. Today’s release unexpectedly missed forecasts which led to Sterling being offered in the FX markets, following last week’s multi-year…

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It’s the 4th July, which is a public holiday in the US, which has left the European/US trading sessions subdued with minimal data points. On Thursday there was the unusual occurrence of a Thursday release for the US employment report, Non-Farm Payrolls, released alongside, initial jobless claims, continuing jobless claims and Draghi’s ECB press conference. US equity markets were buoyed by the strong employment figures, with the headline number of jobs added being +288,000…

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Today is a rarity for the financial markets; the US employment report (Non-Farm Payrolls) is being released on a Thursday, not the first Friday of the month. This is due to the Friday being Independence Day (July 4th) in the US, a national holiday. The economic release coincides with the ECB press conference; US average earnings, US initial and continuing jobless claims. Each of these data points should impact the markets, with all being released together; it could lead to confusion an…

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Sterling has traded to the highest level since 2008 on Tuesday against the US dollar, following better than expected macro data. UK Manufacturing PMI for June at 57.5, up from 57.0 in May, a number above 50.0 states expansion. The other highlight of the report was job creation at a 39-month high adding to the positive sentiment for the UK economy. RT @World_First: UK Manufacturing PMI (June) = 57.5 vs 56.8 expected and 57.0 previous > Q2 growth surely over 1% — Mike Bi…

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