Weekly Trading Update
The Pound likely to remain in focus as we await our esteemed BoE ‘Guvnor’s’ thoughts on Wednesday
The Pound likely to remain in focus as we await our esteemed BoE ‘Guvnor’s’ thoughts on Wednesday
UK
In a fairly quiet week for data etc, Mark Carney will be speaking at 9.30 on Wednesday morning as the Financial Policy Committee will be giving their assessment of the outlook for the stability and resilience of the financial sector. The market, of course, will be keenly listening to see if he flips or flops any clues about the direction of interest rates after the surprise move last week by Andy Haldane to vote for a rate hike. This of course sent the pound soaring as the market begins to factor in a rise in August. At the end of the week, the other highlight of the week is the GDP figure which will again put FX traders on tenterhooks.
The corporate calendar next week is looking similarly subdued with an earnings release due on Tuesday from Northgate, the light commercial vehicle hire people and DS Smith (packaging) on Thursday. We’re also expecting trading statements from Whitbread on Wednesday and spread betting favourite Tullow Oil on Friday.
US
On the other side of the pond, the highlight of the week if you exclude any potential Tweets, would be the GDP data on Thursday coinciding as it does with the weekly continuing and initial jobless claims. This week also, the ‘Fed speakers’ are out in force covering most days with their anecdotes on US monetary policy. The one who always seems to be a popular commentator is Bullard who is inevitably scheduled to perform on Thursday after the GDP data announcement.
Of course, don’t forget those Tweets as the burgeoning trade war continues its grip on market movements.
EU
Having announced their tariff retaliatory measures on Friday, the EU creeps back into its collective shell until, yes that’s right, Thursday with a European Council meeting in Brussels Chaired by M. Rompuy. There the other Heads of State will listen obediently to what they are told to do by Merkel and Co and probably who will probably lob a few more brickbats at the UK to try and ensure no one else gets any funny ideas about leaving ‘the Zone.’ Take note Italy.
Stock of the Week – Whitbread; trading statement 27/6
Results released in April came in slightly above consensus fuelled by Premier Inn and Costa. Outlook was toned down, however, as the environment was deteriorating and expectations for profit growth were likely to suffer as a result. How has trading been since that announcement and what is the latest on the Costa demerger?
Key Financial Events, Monday 25th to Friday 29nd June 2018:
Monday 25th
- US New Home Sales & Change May @ 15.00
Tuesday 26th
- US S&P Case-Shiller Home Price index y/y Apr @ 14.00
Wednesday 27th
- UK BoE’ Carney Speaking & FPC Statement @ 9.30
- US Durable Goods Orders May @ 13.30
Thursday
- EU GfK Consumer Confidence Survey Jul @ 7.00
- EU Business Climate Jun
- US GDP Q1 @ 13.30
Friday
- UK GDP & Current Account Q1 @ 9.30
- EU CPI Jun @ 10.00
- US Personal Consumption Expenditure y/y May @ 13.30
Open (Monday)
7638.89
Close (Thursday)
7556.43
Change
-1.07%
High
7702.02
Low
7550.46
Open (Monday)
24845.28
Close (Thursday)
24461.75
Change
-1.54%
High
25000.53
Low
24412.95
Open (Monday)
1.3270
Close (Thursday)
1.3262
Change
-0.06%
High
1.3359
Low
1.3156
Open (Monday)
1282.7
Close (Thursday)
1270.1
Change
+0.98%
High
1286.2
Low
1263.9
It's easy to open an account
- Fill in our simple online application form
- Fund your account
- Start trading the global markets instantly!
SEARCH FOR AN ARTICLE:
Enter a keyword and search for all relevant articlesMARKET ANALYSIS
RECENT POSTS
DISCLAIMER
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 64% of retail investors lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money. For professional clients, spread betting and CFD trading can also result in losses larger than your initial stake or deposit.
Spreadex Ltd is authorised and regulated by the Financial Conduct Authority, provides an execution only service and does not provide advice in any way. Nothing within this update should be deemed to constitute the provision of investment advice, recommendations, any other professional advice in any way, or a record of our trading prices. This update does not constitute or form part of an offer of, or solicitation for a transaction in any financial instrument, nor shall it or the fact of its distribution form the basis of, or be relied on in connection with, any contract therefore. Any persons placing trades based on their interpretation of the comments or information within this update does so entirely at their own risk.
No representation, warranty, or undertaking, express or limited, is given as to the accuracy or completeness of the information or opinions contained within this update by Spreadex Ltd or any of its employees and no liability is accepted by such persons for the accuracy or completeness of any such information or opinions. As such, no reliance may be placed for any purpose on the information and opinions contained within this update.
The information contained within this update is the intellectual property of Spreadex Ltd and is protected by UK and International copyright laws. All rights reserved. Users may however freely download, distribute and reproduce extracts of the contents, subject always to accrediting Spreadex Ltd as the source and providing a hyperlink to www.spreadex.com.
