top of page
  • richard evans

Did we really go to the moon in 1969?

Good morning


USD had a burst of strength yesterday afternoon which sent GBPUSD down to 1.1940 and EURUSD to 1.0330. Some rather hawkish comments from Fed officials seems to be the reason, Brainard says inflation high due to risk of supply shocks, Williams saying inflation fight could go into 2024, Barkin saying rates likely to rise slower but be higher for longer, while Bullard said the market was underestimating the chance of Fed needing to be more aggressive next year which could see rates as high as 7%, not the first time we have heard that from him.


The world has been watching China and the protests over the zero-Covid policy, with police clamping down hard on protestors. Risk sentiment had turned sour as Chinese took to the streets to voice their displeasure. Equities were down, USDCNY up. Overnight though we have seen a reversal, equities are up, Hang Seng nearly 5% and Shanghai Comp over 3% and the hope is that there could be a change in Covid policy. There was talk of an announcement from Chinas health departments this morning. I haven’t seen much about that, some talk perhaps of vaccines and attempts to avoid excessive restrictions perhaps more to appease protestors. However a lot of the positive move has been put down to China ending a seven year ban on property developers selling new shares to outside investors.


Meanwhile UK PM Sunak has said the previous era of British relationship with China is over and it is naïve to think trade will help move China away from Communism. He did add that Chinas influence in world affairs cannot be ignored, so we’re not looking to go back to cold war relations, but there seems little doubt there will be a gradual change in our relationship.


NASA have successfully sent the Orion capsule 270,000 miles beyond earth, which is the furthest any spacecraft designed to carry humas has travelled. There are no humans on board for this test flight but if all goes to plan we could well have people on the same journey there in a couple of years time. Now, I love the idea of space exploration and travel and I love the old footage of Neil Armstrong on the surface of the moon. I do think we went there, but so much is being made of the challenges to get men to the moon now, despite our technology being so much more advanced than back in 1969, that I can fully understand how people will question whether we really did land on the moon.


As for major challenges closer to home, England take on Wales in the final match of the group stages. England are well placed at the top of the group, we can still fail to qualify if a load of things go against us but I think with our decent goal difference it would take something extraordinary to see us out of the competition. After a disappointing display against USA, I’m hoping to see a bit more entertainment and desire from England. No morning matches today, have to wait for 3pm for the group A games, the pick of which should be Ecuador v Senegal.


- 10.00 EU consumer confidence

- 12.35 BoEs Mann speaks

- 13.30 CAD GDP

- 15.00 US consumer confidence

- 15.00 BoEs Bailey speaks

- 21.45 NZ building permits

- 23.50 Japan industrial production

- 00.30 AUS monthly CPI, building permits

- 01.00 China manufacturing, non-manufacturing PMIs


2 views

Recent Posts

See All

Higher US inflation puts a June rate cut out of reach

Good morning The US inflation release yesterday really sent the markets running for cover with both the headline and the core reading coming in above expectations.  The US dollar shot higher and has h

コメント


bottom of page