Market Overview

7 May 2019 08:32

Maria Gregoriou

The UK government will meet with the Labour party today to define how Brexit will progress. According to Foreign Secretary Jeremy Hunt, the talks may bring about compromise even though he does not personally favour a long-term customs union This could mean that the compromise would be to put a customs union in place short-term. These compromises may be essential, otherwise, a general election or a second referendum becomes more of a probability.
3 May 2019 09:04

Maria Gregoriou

The global food chain is being shaken by a pig virus, African swine fever, that started to kill off pigs in China last summer and has now spread to Mongolia, Vietnam and Cambodia. This has sent a shock wave through the global food chain with the strengthening of the global meat market and the rising of prices. The fact that the African swine fever hit China first and is continuing to kill off pigs there is a significant factor to the meat industry, as China farms more than half of the world’s pig population.
2 May 2019 10:53

Maria Gregoriou

As Mark Carney is set to step down as governor of the Bank of England at the end of January 2020, the treasury is on the lookout for his successor. Carney, who has been in the role since July 2013 and has stayed on in order to ensure stability in the mists of the aftermath of Brexit, told Sky News in an interview that there was “absolutely no” chance of him staying on after January 31. This statement comes even after he has warned that the risk of a Brexit no-deal is “alarmingly high.
2 May 2019 08:53

Maria Gregoriou

The U.S. Federal Reserve (Fed) Chairman Jerome Powell rejected the idea that an interest-rate cut might be in the cards to the U.S. during a news conference in Washington on Wednesday after the committee’s meeting. “We are strongly committed to our two percent inflation objective and to achieving it,” Powell said. This statement comes at a time when investors are on the lookout for a rate cut and President Donald Trump is insisting on one.
23 April 2019 11:32

Maria Gregoriou

After a break from the Brexit saga due to Easter break, the British government will continue its talks with the Labour Party on the matter. The core matter of Brexit is not the only highlight of the return of MPs to Westminister as Prime Minister Theresa May is receiving criticism about her leadership. This criticism comes from Tory campaigners, liked Nigel Evans who has called her handing on Brexit “frustrating” and has also said that “fresh leadership is needed.” Her cross-party talks are also being criticised as some believe that she should be reaching out to the people instead.
22 April 2019 08:05

Maria Gregoriou

The financial world woke up this morning to the news that oil prices have speared up by more than three percent. This is the highest level that oil prices have seen since November last year. The increase by three percent took prices over $74 per barrel for Brent crude futures and U.S. crude futures rose around 2.67 percent to $65.71 per barrel. The main reason for this dramatic change is probably due to a report by the Washington Post that U.S.
19 April 2019 08:03

Maria Gregoriou

Things were shaken up in the European stock market yesterday, as shares in this market “ended higher as short covering kicked in ahead of a long Easter weekend,” according to Reuters. Looking at the European stock market more closely, the pan-European STOXX 600 index rose for a consecutive seventh session, Germany’s DAX closed at a six-month high, while London’s FTSE 100 moved in the opposite direction, with healthcare stocks dragging it down.
18 April 2019 11:41

Maria Gregoriou

The index sums up inflation and unemployment outlooks for 62 economics. This year the index relied on Bloomberg economist surveys, while in previous years the index was complied with the use of actual data. The report stated that these top five countries all suffer from intense economic stress and scant progress in taming price growth and getting people back to work. Adding to this, the report said, “the Bloomberg Misery Index relies on the age-old concept that low inflation and unemployment generally illustrate how good an economy’s residents should feel.
18 April 2019 08:07

Maria Gregoriou

The current US economic situation, according to the Beige Book report released last night, shows that economic activity expanded at a slight-to-moderate pace in March and early April. The report, which presents data collected by each of the 12 Federal Reserve Districts, shows that results concerning consumer spending were varied. Overall the results in this area illustrated sluggish sales for both general retailers and auto dealers. While the outlook on consumer spending was dull, the picture concerning tourism was generally brighter.
17 April 2019 12:08

Maria Gregoriou

The 2019 growth forecast from the German government was cut for the second time in three months today. This decision points to the fact that the Germany economy is slowing down due to a recession in the manufacturing sector. Reuters stated that German exporters are struggling with weaker demand from abroad, trade tensions sparked by the American government’s policies of “America First” and the uncertainty that businesses are facing due to the unknown outcome of Brexit.
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