22 Jul

Telegraph

• Mike van Dulken, of Accendo Markets said: “Crude prices back on the back foot this morning – just as oilfield services firms Halliburton and Schlumberger call the bottom for oil. “Markets are still focused on a build in US gasoline stocks which indicates waning demand, even though falling crude inventories should balance this out in due course.”
• http://www.telegraph.co.uk/business/2016/07/22/UK Index -100-slides-but-pound-gains-ahead-of-uk-manufacturing-and-se/

21 Jul

Digital Look

• “Draghi’s press conference is likely to be littered with the usual dovishness to keep investors happy about accommodative policy for longer,” said Mike van Dulken, head of research at Accendo Markets.
• http://www.digitallook.com/news/market-report-midday/london-midday-stocks-fall-after-worse-than-expected-uk-retail-sales–1635184.html

20 Jul

News.Markets

• …from Mike van Dulken at Accendo Markets: ‘Beware central bankers not bearing gifts’. He reckons that the ECB “finds itself in a bind, fishing from the banks of a bond pond drying up fast as security-seeking investors drive up prices, leaving fewer and fewer eligible yielding tiddlers to net.” Is safe-haven demand on the rise, he asks, and if so is that bad news for ‘risk’ assets like equities?
• https://news.markets/shares/live-blog-ecbs-decisions-monetary-policy-22350/

19 Jul

Telegraph

•  Mike van Dulken, of Accendo Markets, said: “The negative opening call comes despite US markets delivering fresh all-time highs after decent Q2 scorecards from major banks. A mixed session in Asia overnight comes as markets might actually be starting to worry about the prospect of more central bank intervention (Australia and New Zealand too?). When added to existing expectations (BoJ, BoE, ECB) it begs the question about whether we are facing a potential race to the bottom in terms of stimulus and more currency wars. A weaker oil price is not helping either on oversupply concerns despite output cuts.”
• http://www.telegraph.co.uk/business/2016/07/19/UK Index -100-falters-and-pound-slides-as-imf-prepares-to-cut-uk-grow/

Digital Look

• A mixed session in Asia could reflect that markets “might actually be starting to worry about the prospect of more central bank intervention”, said analyst Mike van Dulken at Accendo Markets, citing Australia and New Zealand as possible new additions to the equation. “When added to existing expectations (BoJ, BoE, ECB) it begs the question about whether we are facing a potential race to the bottom in terms of stimulus and more currency wars. A weaker oil price is not helping either on oversupply concerns despite output cuts.”
• http://linkis.com/www.digitallook.com/aO3jj

18 Jul

AFP

• But “this happening so soon after the tragic events in Nice last week simply adds to plentiful pre-existing geopolitical tension”, noted analysts at Accendo Markets in a research note.
• http://www.dailymail.co.uk/wires/afp/article-3695031/Asian-markets-profit-takers-sit-wings.html

Business Insider

• Accendo Markets’ analyst Mike van Dulken says in an email to clients this morning: “Gold spiked higher amid the attempted coup in Turkey, and has subsequently settled back as it became clear the government was able to remain in control of the country.”
• http://uk.businessinsider.com/silver-gold-price-fall-july-18-turkish-coup-fails-2016-7