Improving British fortunes
2 April 2012
Like London buses, for what seems like an eternity there is no good news on the economy whatsoever, and then suddenly four encouraging stories come along at once.
Daily Forex Brief: FxPro
Simon Smith, Chief Economist, FxPro
Simon Smith, Chief Economist
Simon has over seventeen years experience of macro forecasting and investment strategy research. Prior to joining FxPro in May 2010, Simon was a consultant with Thomson Reuters, having spent four years as Chief Economist at Weavering Capital.
He has held economic and strategy positions with Standard & Poor’s, together with consultancy firms 4Cast and MMS International.
Simon holds an MSc. in Economics from the University of London and a BSc. from Brunel University.
Michael Derks, Chief Strategist
Michael joined FxPro in May 2010 having been previously at Deutsche Bank, Rothschild and Schroders.
Michael Derks, Chief Strategist, FxPro
He is a multi-discipline investment and market strategist/economist with extensive expertise in FX, strategic and tactical asset allocation, fixed income, equities, property and alternative assets.
An accomplished economic and investment writer and researcher, Michael holds a Bachelor of Economics degree from Macquarie University in Sydney.
Big chance of rate surprise tonight down under
2 April 2012
It would be remarkable if RBA policy-makers did not consider reducing rates still further when they meet later on tonight.
The continuing retreat of global manufacturing
2 April 2012
The global manufacturing sector continued to retreat in March. All of the major European economies recorded a PMI reading of below 50 last month.
Rajoy’s fiscal high-wire act
2 April 2012
Spain’s new government has announced spending cuts and tax increases worth an estimated EUR 27bn in an endeavour to reduce the gaping fiscal shortfall.
Is Europe doing enough?
30 March 2012
All indications are that the deal likely to be announced today will be interpreted as a half-hearted approach that reflects compromise more than it does commitment.
Yen gains may prove temporary
30 March 2012
In the run-up to the end of the financial year, the Japanese currency has strengthened slightly. USD/JPY, which ten days ago was threatening the 84.0 level, fell below 82.0 for a time overnight.
Recession beckons in Britain, claims OECD
30 March 2012
The OECD put a real dampener on British spirits yesterday by claiming that the UK probably went back into recession in the first quarter of this year.
Aussie hit by fresh China fears
29 March 2012
Fresh fears concerning China weighed heavily on the Aussie once again overnight. The AUD has fallen below 1.0350 to a ten-week low.
More strain in Spain
29 March 2012
Ahead of Friday’s eagerly-awaited budget announcement, the pressure continues to mount on Spain’s new Prime Minister.
Britain battles to avoid recession
29 March 2012
Despite the unseasonably warm and dry weather, the OECD put a real dampener on British spirits today by claiming that the UK probably went back into recession in the first quarter of this year.
Oil prices barely budge despite reserves-release talk
29 March 2012
For those who subscribe to the theory of ‘Peak Oil’, the recent price action ought to have triggered some cheer.
The yen and rates
29 March 2012
Following on from its near 10% depreciation vs. the USD since the early part of February, the yen has been in a more consolidative mood of late.
The importance of capex to the US recovery story
29 March 2012
Notwithstanding the general mood of optimism surrounding US recovery prospects, there is one recent development that needs to be watched closely.
The pressure on UK households
28 March 2012
Behind the small downward revision to Q4 GDP in the UK (from -0.2% to -0.3%) is the picture of a household sector still under immense pressure.
Yet more euro short-covering
28 March 2012
The process of covering the mountain of record euro short positions which commenced in earnest during February has continued during the current month.
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