Archive - October, 2014

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Spot Gold is currently trading around the $1,205 level today, near its three-week low as the dollar strengthened across the board following the Federal Reserve’s decision to end its asset-purchase program known as ‘Quantative Easing’ last night. Fed officials, who voted on whether to proceed with plans to end the monthly bond-buying or not, dismissed recent turmoil in global financial markets and weak inflation figures, instead focusing on employment gains as they sig…

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The Bank of England released the minutes from the MPC October meeting last week on 22nd October, coming in with a continued 7 - 2 vote on interests rates, and a 9 – 0 vote as expected on Asset Purchases. Ian McCafferty & Martin Weale were again the members that voted against the proposition of leaving interest rates unchanged, sticking by their preference of increasing the Bank Rate by 25 basis points.McCafferty citing that the relatively low level and pace of decline of spar…

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Figures out this morning from the ONS show a massive slowdown in the prices of goods and services purchased by UK consumers in September. The Inflation figure fall from 1.5% in the previous month to 1.2% in this one, along with other economic shakes of recent weeks greatly slackens the pressure on the BoE and more than likely puts the date of an interest rate rise in the UK back even further in the new year. Inflation is now at its lowest mark in five years sitting only a whisker…

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Wednesday 1st October saw European equities moving sideways while the Euro sells off sharply as a result of yet weaker macro data highlighting further growth challenges in the Eurozone, a point the ECB will more than likely address at its meeting tomorrow. European Manufacturing PMI slipped to 50.3 compared to a previous estimate of 50.5 creating worrying signs for the region’s Manufacturing Sector as orders appear to be diminishing for the first time since June 2013 leading to m…

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