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Sherif Hasan
Published post Heads up - BOE's Carney speaks on Brexit at 15.00 GMT today
BOE governor Mark Carney delivers a post-Brexit market update today 30 June Carney is set to outline his thinking on how Britain's economy is coping with last week's vote to leave the EU, his second response since the Brexit result. BoE says Carney will deliver a speech at 15...
Sherif Hasan
Published post Data coming up in this session 30 June
Your Economic Data/Event Calendar for today in Europe 30 June 2016 Greetings and welcome to month-end. And that's means month-end flows ( don't forget the usual EURGBP demand for the UK's EU membership fees. Yes we've still got to pay those for a while yet!). Also keep an eye on the 15...
Sherif Hasan
Published post Fitch on Brexit impact in Asia - No direct APAC sovereigns, bank ratings impact
Reuters with the news from Fitch ratings: Brexit has no direct APAC sovereigns, bank ratings impact UK's vote to leave European Union has no immediate direct ratings impact on Asia-Pacific sovereigns or banks Spike in political uncertainty in UK - and resulting effects on investor risk appetite...
Sherif Hasan
Published post Fitch on China - overcapacity, indebtedness, over-leverage
Fitch with a dour assessment on China Overcapacity weighs on china bank operating environment Over-capacity and over-leverage remain significant challenges for Chinese steel industry Expects steel sector to continue relying on commercial paper refinancing High levels of indebtedness in industrial...
Sherif Hasan
Published post Australia May Job vacancies: -1.9% (prior +2.7%) & Private Credit: +0.4% m/m (exp.+0.5%)
Aussie data Job vacancies for May, -1.9% m/m prior 2.7% Private Sector Credit for May, +0.4% m/m expected 0.5%, prior 0.5...
Sherif Hasan
Published post NZ data - ANZ Business Confidence for June: 20.2 (prior 11.3)
ANZ data for June Activity Outlook 35.1 prior 30.4 Business Confidence 20.2 prior 11.3...
Sherif Hasan
Published post China’s analysts haven’t been this wrong on equities since 2009
Here's a piece in Bloomberg on China stockmarkets, and it isn't cheery: Shanghai Composite Index firms reported earnings per share for the past year that were 33% below what analysts had predicted 12 months ago The gap widened to the most since 2009 The gap , far outstrips the difference between...
Sherif Hasan
Published post China Beige Book shows rebound in Q2
Some highlights from the latest 'China Beige Book' analysis on China's economy Economy bounced in Q2 from the slowdown in the previous two quarters (Q4 of 2015 and Q1 of 2016 were the weakest in the history of the beige Book report) Services and construction the bigger drivers of the bounce Servi...
Sherif Hasan
Published post NZ Building Permits for May: -0.9% m/m (prior +6.6%)
New Zealand Building Consents for May For the m/m, down 0.9% (prior +6.6% For the y/y, up 13% to an 11 year high From Stats NZ: consents for new dwellings are at a higher level than in 2015, but there has been little growth in recent months...
Sherif Hasan
Published post UK data - GfK Consumer Confidence for June: -1 (expected -2)
GfK Consumer Confidence for June A beat, coming in at -1 expected -2 prior -1 This was a pre-Brexit vote survey (conducted June 1 to June 15...
Sherif Hasan
Published post Japan data: Industrial Production (May, preliminary): -2.3% m/m (expected -0.2%)
Japan preliminary Industrial Production data for May -2.3% m/m expected -0.2%, prior 0.5% And -0.1% y/y expected +1.9%, prior was -3.3...
Sherif Hasan
Published post Here are the headlines that will determine the next Brexit market move
We're waiting for comments from two people The EU has made itself clear, it won't negotiate a new deal with Britain until an Article 50 notice. That might be posturing but it's the best we have to go on right now and it won't change imminently...
Sherif Hasan
Published post ABN Amro slashes UK 2017 GDP forecast after Brexit vote
ABN Amro sees slower British growth The economists at ABN Amro see 2016 relatively unchanged at 1.5% compared to 1.6 but a prolonged period of uncertainty will hurt 2017 growth badly. They now forecast growth at 0.5% next year compared to 2.5% previously...
Sherif Hasan
Published post What's next in euro trading - Morgan Stanley
The gameplan from Morgan Stanley From MS: We stick to our trading strategy of using the current rebound to sell current account deficit and liability burdened currencies against the JPY, USD and the EUR. Our EUR constructive stance may surprise as we have been known for long as EUR bears...
Sherif Hasan
Published post Is the post-Brexit move a bounce or a turn?
Credit Agricole on what's next Markets are stabilising after the brutal (and according to some market observers excessive) moves in the immediate aftermath of Brexit...
Sherif Hasan
Published post FTSE clears the Brexit vote day high
European stock market close 29 June 2016 FTSE +3.2% Cac +2.4% Dax +1.7% Ibex +3.3...
Sherif Hasan
Published post Two in the hat now for Conservative leadership race
Another runner make an official entrance Liam Fox is the former Secretary of Defence and he's just announced he'll be running for the top job. Along with Stephen Crabb, they are the only people to have officially stated their intention to run...