May 6, 2016
Markets are eagerly awaiting the latest statistics on employment growth in the United States this afternoon. Analysts predict a continued solid 195’000 gain in non-farm payrolls in April, the same as was reported already in March.
May 6, 2016
This year’s numerous central bank actions have succeeded in restoring global risk sentiment. The Bank of Japan has been an exception, remaining reluctant to move beyond incremental, symbolic gestures. Still, the broader market regime favors a countercyclical approach. We caution against turning too positive on the markets that have already rallied, and too negative on Japan.
May 4, 2016
Sentiment on equity markets remains tarnished and investors are focusing on the upcoming U.S. labor market statistics. Today, the private American labor services group ADP will publish its monthly employment statistics for the U.S. private economy, followed by the official labor market report from Washington on Friday.
May 3, 2016
Australia’s central bank cut its key rate by 25bp to a record low of 1.75%, to counter the emergence of disinflation. Meanwhile, European and U.S. stock markets held their heads above the waterline despite a negative lead from Tokyo and weaker-than-anticipated U.S. economic data yesterday. Tokyo exchange remains closed until Friday due to holidays.
Apr 29, 2016
The initial suspicions and indicators date well back into the previous year. The first formal charges were brought against the established bull market at the beginning of 2016. The markets passed a first instance judgement during the month of January already. But as usual this hasty judgement will be contested within a reasonable deadline from a chart-technical point of view...