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Moneycorp LogoDaily brief: Moneycorp

Sackcloth and ashes tomorrow

Posted on: 21 June 2013

In currency terms yesterday that meant taking advantage of the US dollar's two-week high..

Fed chairman pulls a punch(bowl)

Posted on: 20 June 2013

Speeches yesterday by the Bank of England governor, the British chancellor, the US president and the Federal Reserve chairman provided ample scope for oratory metaphor.

Taper vapours as Bernanke press conference looms

Posted on: 19 June 2013

Six years after Northern Rock went down the pan, the Parliamentary Commission on Banking Standards has at last completed its study of failed banks and has made a series of recommendations to the chancellor.

Tomorrow’s Fed overshadows today’s inflation data

Posted on: 18 June 2013

For some people,you can never be too safe. Several of them appear to have been at work calming the FX market yesterday, especially among the major currencies...

UK homeowners increasingly optimistic

Posted on: 17 June 2013

For the last ten days sterling has been going nowhere fast, hovering mostly between €1.17 and €1.18. It was doing that again at the end of last week, allowing the pound to start this morning less than a dozen ticks adrift from Friday morning/s opening level.

Market sits back to think

Posted on: 14 June 2013

Investors had a bit of a rethink yesterday and decided that Wednesday's buying had been overdone. There was no solid evidence to provoke the change of mind; it was more a matter of the buyers running out of steam.

Will three arrows be enough for Japan?

Posted on: 13 June 2013

Christoph Bartneck, a reader at the University of Canterbury in New Zealand, having nothing better to do, made a study of 3,655 Lego minifigures produced between 1975 and 2010.

Yen leads the way on BoJ inaction

Posted on: 12 June 2013

A German bank clerk intending to transfer €62.40 out of an account inadvertently transferred €222,222,222.22 instead. He got the sack.

No extra BoJ assistance

Posted on: 11 June 2013

The Bank of Japan slightly surprised investors this morning when it omitted to do or say anything to calm the volatility that has been a recent feature of Tokyo bond and equity markets.

US payrolls on target

Posted on: 10 June 2013

After a 165k increase in April investors were expecting to see around 167k new jobs in May. What they got was a 175k increase and a -12k downward revision to the previous month's figure; a net increase of 163k.

Where does yen fit in Abenomics?

Posted on: 7 June 2013

Japanese investors have not the vaguest idea what the government and the Bank of Japan have in mind for their currency...

No change expected from ECB but…

Posted on: 6 June 2013

The annual Bilderberg meeting starts today in Watford. Attendance is by invitation only, with delegates drawn from the upper echelons of international politics, finance and commerce.

Three out of three for UK PMIs?

Posted on: 5 June 2013

The EC is keen to shift Euroland away from fossil fuels and into cheap renewable energy. But not too keen. And certainly not too cheap.

Manufacturing PMI gives sterling a boost

Posted on: 4 June 2013

All Euroland readings yesterday were below 50, thus indicative of falling activity, but all were also better on the month. Unfortunately, better was not good enough to match Britain's 51.3, let along Switzerland's 52.2.

PMI time

Posted on: 3 June 2013

As always at the beginning of the month, PMIs are in the main attraction today...