26 Aug

Telegraph

• Mike van Dulken, of Accendo Markets, said: “A rather subdued opening call is nothing out of the ordinary given the event risk attached to Fed Chair Janet Yellen speaking in Jackson Hole this afternoon. This because she may (only Dixons offers guarantees) deliver a cryptic hint or two about the timing of the next US rate hike. Which is important with peers doing the opposite and USD strength having a negative knock-on for commodities. Note however, the USD back trading around yesterday’s lows, suggesting fears of a hawkish rhetoric may in fact be on the wane. Could it all be much ado about nothing?”
• http://www.telegraph.co.uk/business/2016/08/26/UK Index -100-slides-as-attention-turns-to-fed-rate-hike-timing-ahead/

25 Aug

Marketwatch

• “A stronger USD and lower commodity prices (notably oil hurting energy names, but also copper and iron ore) have dented sentiment although most have since found their feet,” said Accendo Markets analysts Mike van Dulken and Augustin Eden in a note to clients. “Traction is, nonetheless, rather lacking as investors begin their typical shift to ‘wait ‘n’ see’ mode ahead of a speech by Fed Chair Janet Yellen tomorrow. Traders are, as always, hoping to be able to decipher the path for U.S. monetary policy. They may be left wanting. Again,” the Accendo analysts said.
• http://www.marketwatch.com/story/UK Index -100-struggles-as-miners-drug-makers-pull-lower-2016-08-25

24 Aug

London Stock Exchange

• Anglo American, down 2.6%, Antofagasta, down 2.2%, Rio Tinto, down 2.0%, BHP Billiton, down 1.4%. The miners were lower as a rebound in the dollar hit commodity prices. Before the London open, Mike van Dulken, head of research at Accendo Markets, said of the dollar’s rise: “Note potential for the Mining, Oil and USD-exposed names on the UK 100 to thus be under pressure in early trading following yesterday’s gains.”
• http://www.londonstockexchange.com/exchange/news/alliance-news/detail/1472031822553973500.html

23 Aug

Int. Business Times

• Michael Van Dulken, head of research at Accendo Markets, said Yellen’s message could carry a stronger tone than many expect. “With the dollar still well off its July highs in spite of recent Fed member comments, Yellen does in fact have room to deliver a rather hawkish message,” he said. “One that strengthens the dollar, but not so much that it prevents the Fed from actually hiking before year-end.”
• http://www.ibtimes.co.uk/fx-focus-pound-breaks-above-1-32-first-time-since-boe-rate-cut-1577568

22 Aug

Digital Look

• “Markets remain very much focused on global monetary policy this week after conflicting Fed chat last week and ahead of this Thursday’s US Kansas City Fed Jackson Hole Symposium. As much for the outlook for US monetary policy as for the ramifications for the Euro, itself hemmed in between a Fed wanting to tighten and the Bank of England in easing mode post Brexit,” Accendo Markets’ head of research Michael van Dulken said.
• http://www.digitallook.com/news/market-report-opening/london-open-hawkish-fed-speak-weighs-on-footsie-at-start-of-the-week–1675834.html