Old shoes for sale?
A pretty quiet day in the markets yesterday, I’d said it felt a bit like a holiday and so far I’ve been right. Reports US and China had constructive talks between Yellen and China VP Liu helped risk sentiment. A limited economic calendar today, and no Fed officials due to the blackout period before next weeks FOMC meeting means we could be in for another relatively subdued session.
Having said that, US dollar has made some minor gains, which goes slightly against the more positive risk sentiment noted in Asian equities. GBPUSD down to 1.3765 while EURUSD is just around 1.1600. This leaves EURGBP at 0.8425 (GBPEUR 1.1870). GBP doing slightly better than EUR despite Tenreyros comments that BoE should not be rushed into rate rises, while France suggests it will be deliberately slow and difficult for British lorries in retaliation for the fishing row.
The markets have been good for Mr Elon Musk whose company Tesla is now worth over $1 trillion, cementing Musks place as wealthiest man on the planet. The move was helped by an order of 100,000 for Tesla cars from car rental firm Hertz.
Regardless of Mr Musks wealth, I’m not sure he is the ‘lucky’ person who managed to buy Michael Jordans used trainers for almost $1.5m at an auction yesterday. I’m going to go through my cupboards later, looking for some old football boots that I may not yet have thrown out and stick them on ebay. Someone might fancy them!
- 09.00 ECB bank lending survey
- 14.00 US house prices
- 15.00 US new home sales, consumer confidence
- 22.45 NZ trade balance
- 00.01 UK BRC shop prices
- 01.30 AUS CPI