• Stocks subdued, euro rises again, Nikola spins-out Link $EURGBP $EURUSD $RMG $CINE $PTON $NKLA
    David Madden Fri 11 Sep 2020 16:36

    Trading has been subdued in Europe as there has been an absence of major news. 

    Europe

    In the past week, traders in this part of the world took their cues from the US, in particular the tech sector, and seeing as that has calmed down, things have cooled-off here too. Broadly speaking it has been a positive week for European indices, but then again the FTSE was starting from a low base, and the DAX 30 hasn’t retested the highs of last week.

    Traders are still monitoring the health crisis. Uncertainty in relation to the UK-EU trade relationship has increased and US lawmakers have yet to reach an agreement on the relief package.    

    Ashmore, the emerging markets-focused fund manager, confirmed that full-year assets under management (AuM) slipped by 9% to $83.6 billion. The group pointed out that the pandemic had a major impact on the financial markets in the third quarter, and that pushed down the AuM metric. Ashmore said that...

  • RT @SimpsonsQOTD: “I don’t know, Marge. Trying is the first step towards failure.” https://t.co/O6E8LKEhxm
    David Madden Fri 11 Sep 2020 15:16
  • Peloton shares are up more than 10%, Q4 EPS: 27 cents vs 10 cents expected $PTON
    David Madden Fri 11 Sep 2020 13:36
  • Brendan O'Neill talking about Leave voters from northern England 'these are not free-market nut cases' haha. Link
    David Madden Fri 11 Sep 2020 12:36

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  • US CPI (August): 1.3% vs 1.2% expected, prior 1% US core CPI (August): 1.7% vs 1.6% expected, prior 1.6%
    David Madden Fri 11 Sep 2020 12:31
  • RT @DeItaOne: UK SOURCE SAYS BRITAIN DOES NOT RECOGNISE EU SUGGESTION THAT IT HAS NOT ENGAGED IN TALKS
    David Madden Fri 11 Sep 2020 11:46
  • RT @macro_intel: ???? MORGAN STANLEY SAYS CHANCE OF WTO BREXIT OUTCOME HAS RISEN TO 40% VS 25% PREVIOUSLY
    David Madden Fri 11 Sep 2020 10:31
  • RT @PriapusIQ: ?? TESLA INC $TSLA UBS RAISES TARGET PRICE TO $325 FROM $160
    David Madden Fri 11 Sep 2020 09:51
  • Uncertainty over the future UK-EU trading relationship persists. Will EUR/GBP target 0.9400? $EURGBP Link
    David Madden Fri 11 Sep 2020 09:06
  • RT @SimpsonsQOTD: “Okay, we're young, rich, and full of sugar. What do we do?" "Let's go crazy, Broadway-style!" https://t.co/iMWbeQU35Z
    David Madden Fri 11 Sep 2020 08:41
  • RT @notayesmansecon: Good News! UK July 2020 GDP is now 18.6% higher than its April 2020 low. Not So Good News! However, it remains 11.7%…
    David Madden Fri 11 Sep 2020 07:56
  • 'a bottle of Baileys will across the border five times' before it's a finished product says @MichaelAodhan Brace yourself for a lot of political toing and froing
    David Madden Fri 11 Sep 2020 07:46
  • RT @mhewson_CMC: ECB Lane: Inflation significantly muted by euro gains
    David Madden Fri 11 Sep 2020 06:06
  • German CPI, final reading (August): -0.1% vs -0.1% expected
    David Madden Fri 11 Sep 2020 06:06
  • UK GDP MoM (July): 6.6% vs 6.7% expected UK GDP YoY (July): -11.7% vs -11.3% expected
    David Madden Fri 11 Sep 2020 06:06
  • Softer start expected for Europe, UK GDP in focus Link
    David Madden Fri 11 Sep 2020 05:46

    For a nice change of pace, the euro dominated the headlines yesterday. 

    There wasn’t a huge amount to report from the European Central Bank update as rates and the stimulus package was kept on hold – in line with forecasts.

    Policy makers at the central bank said there was no need to over react to the strength of the single currency. Thanks to the extremely aggressive monetary easing policy from the Fed, and uncertainty in relation to the UK’s future trading relationship with the EU, the euro has been pushed up.

    The August headline CPI figure for the eurozone was -0.2%, the lowest in four years. The ECB predicts that headline CPI will remain negative for a few months and then turn positive in 2021. The latest services and manufacturing data from the currency bloc points to a cooling in the recovery, so the firmer euro will probably impact the rebound. This year the CPI rate is expected to be 0.3%, unchanged from its previous forecast, while the new...

  • FTSE 100 is expected to open 3 points lower at 6,000 DAX 30 is expected to open 6 points lower at 13,202 CAC 40 is expected to open 11 points lower at 5,013
    David Madden Fri 11 Sep 2020 05:31
  • RT @DeItaOne: - U.S. SENATE KILLS $300 BLN REPUBLICAN CORONAVIRUS AID BILL
    David Madden Thu 10 Sep 2020 17:41
  • Stocks muted, euro firmer, Nikola drops Link
    David Madden Thu 10 Sep 2020 16:20

    European equity markets are showing modest losses as we approach the end of the trading session. 

    Europe

    Volatility has been low in US markets so that has been an influence on trading on this side of the Atlantic. The ECB meeting was the main story today and monetary policy was kept on hold – meeting forecasts. The refinancing rate and the deposit rate were left at 0.0% and -0.5% respectively, and the pandemic emergency purchase programme (PEPP) was left at €1.35 trillion. Christine Lagarde, the head of the ECB, said it is likely the full PEPP envelope will be used. In terms of forecasts, the ECB predicts that headline inflation will remain negative in the months ahead, but will turn positive in early 2021. This year the euro area economy is expected to contract by 8%, and keep in mind the previous forecast was for an 8.7% fall. The euro has been strong recently, mostly because of dollar and sterling weakness, and policymakers at the ECB have said there is...

  • $NKLA -8.3% Link
    David Madden Thu 10 Sep 2020 13:50

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  • US PPI (August): -0.2% vs -0.3% expected, prior -0.4% US core PPI (August): 0.6% vs 0.3% expected, prior 0.3%
    David Madden Thu 10 Sep 2020 12:40
  • US continued claims: 13.85 million vs 12.92 million expected, prior 13.29 million (revised from 13.25 million)
    David Madden Thu 10 Sep 2020 12:35
  • US jobless claims: 884,000 vs 846,000 expected, prior 884,000 (revised from 881,000)
    David Madden Thu 10 Sep 2020 12:35
  • RT @LiveSquawk: ECB: ECB Continues To Stand Ready To Adjust All Of Its Instruments, As Appropriate, To Ensure That Inflation Moves Towards…
    David Madden Thu 10 Sep 2020 11:55
  • ECB refining rates: 0.0% vs 0.0% expected ECB deposit rates: -0.5% vs -0.5% expected PEPP: €1.35 trillion vs €1.35 trillion expected
    David Madden Thu 10 Sep 2020 11:50
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