Author Archive: Jeremy Parkinson

Morning Call For Wednesday, June 27

Morning Call For Wednesday, June 27

Overnight Markets and News Sep E-mini S&Ps (ESU18 -0.49%) this morning are down -0.39% as ongoing global trade tensions weigh on stocks prices. Metal producers and mining stocks are weaker with Jul COMEX copper (HGN18 -0.62%) down -0.38% at a 3-month low on concern a global slowdown from ongoing trade tensions will undercut demand for […]
Bonds Continue To Be A Safe-Haven In A Storm

Bonds Continue To Be A Safe-Haven In A Storm

As the market endured some heavy selling on Monday, there was some safe-haven buying. Bonds saw a bid most of the day, though there was some selling towards the end of the session. However, yields did fall a bit, with the 10 yr yield closing at the lowest level in a month. Many have been […]
Sensex Ends 273 Points Lower; Oil & Gas Stocks Witness Selling

Sensex Ends 273 Points Lower; Oil & Gas Stocks Witness Selling

After witnessing volatile trades during the day, Indian share markets ended their session on a negative note. Losses were largely seen in the oil & gas sector, power sector and capital goods sector, while IT stocks ended the day marginally higher. At the closing bell, the BSE Sensex stood lower by 273 points (down 0.8%) and the NSE Nifty closed lower by 98 points (down 0.9%). The BSE […]
Renminbi Slide Continues And Oil Extends Surge

Renminbi Slide Continues And Oil Extends Surge

The US dollar is mostly firmer today, though has slipped back below the JPY110 level, as lower yields and equities support the Japanese yen. The main story in the foreign exchange market today is the continued slide in the Chinese renminbi. The decline is the sharpest since the 2015 devaluation. The onshore yuan fell for its […]
Deutsche Bank Tumbles To New Record Low, Drags European Banks

Deutsche Bank Tumbles To New Record Low, Drags European Banks

Global systemic fears re-emerged this morning, when in addition to ongoing concerns about trade wars which dragged Chinese stocks deeper into a bear market as the Yuan fell for a 10th consecutive day, now there are European banks to also worry about. Having been relatively stable for much of the recent slide, on Wednesday morning, Deutsche […]
Chart: US Jobs Market Perception

Chart: US Jobs Market Perception

There was a striking figure in the latest Conference Board US consumer confidence data – the headlines were all about the decrease on the month, but as always it pays to look beyond the obvious and into the detail. The thing that stuck out to me was how optimistic consumers remain on the jobs market, as respondents say […]
EURUSD: Southerly Movement Is Expected By Close

EURUSD: Southerly Movement Is Expected By Close

Previous: On Tuesday the 26th of June, trading on the euro closed down. Euro bulls lost all of the gains made following the surge witnessed yesterday. The strengthening of the USD forced buyers to lock in profits. As for the weakening of the single currency, I see more technical factors at play than fundamental ones. Yesterday, […]
Global Yield Curve, Manufacturing, Services & Trade Growth Trends

Global Yield Curve, Manufacturing, Services & Trade Growth Trends

The latest trend in the global and domestic economic data is towards a decline in manufacturing, but an increase in services. Manufacturing is highly cyclical, with there having been 2.5 cycles of weakness within this economic business cycle if you count the current bout of weakness as half. The three charts from Haver Analytics show the situation […]
US Dollar Outlook & What It Means For Gold

US Dollar Outlook & What It Means For Gold

We do not focus too much on the US dollar because in the big picture Gold usually leads movements in the dollar. As it pertains to the present, Gold’s failure to breakout (while the dollar made two new lows since the summer 2016 peak in Gold) implies that the dollar, at worst is not going […]
Will A Reserve Ratio Cut Make A Difference For China ETFs?

Will A Reserve Ratio Cut Make A Difference For China ETFs?

In a bid to strengthen the economy amid trade conflicts with the United States and to restore investor confidence, The People’s Bank of China (PBOC) said that it will lower the amount of cash that some banks (which is known as the reserve requirement ratio) need to keep as reserve by 50 basis points (bps). […]