UK-listed Miners are on the back foot today (down 1.5% to 2.7%), failing to benefit from the dollar basket weakness that tends to usher commodities higher. This as GBP/USD continues to rally (a breakout beyond 10-month falling highs no less) with bookies suggesting a UK referendum Remain vote looking more and more likely come Friday…
UK financials and Property are outperforming this morning on the back of weekend Brexit polls showing a shift back in favour of Remain. This has resulted in a surge in buying interest for the pound sterling and a relief rally for battered financials (banks, insurance) and housebuilders as investors price in a lower probability of…
Next Friday it’ll be confirmed, the UK will have voted to remain or to leave the European Union. The market reaction will be immediate, aggressive, and likely for a period, sustained. In recent weeks the market has climbed on hopes of a ‘remain’ vote and declined on the potential of a ‘leave’ vote – the…
The UK referendum tide may have turned following the callous murder of a defenceless pro-Europe MP. Bookies say the event has revived the chances of a ‘Remain’ vote next Thursday. Traditional last-minute decisions by polling-day voters to maintain the status-quo could well intensify. Markets like the UK 100 of UK blue-chip equities and Pound Sterling…
17 Jun Ship & Bunker Accendo Markets‘ Mike van Dulken notes: “A Fed worried about a Brexit vote means it sees a potential meaningful impact on US and global growth which is bad for perceived demand for oil. http://shipandbunker.com/news/world/400356-what-does-brexit-mean-for-global-oil-and-bunker-prices Marketwatch Gold dropped below $1,300 despite a softer U.S. dollar after the odds of a Brexit vote fell,…
Oil prices are now 10% from their 2016 highs and the declines have accelerated But why? Below is a selection of possible drivers contributing to prices barrelling south. The list is non-exhaustive, but hopefully covers most of the possible drivers. USD strength The US Dollar basket is testing 95.5 and a hitherto resistant trendline of falling highs…