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Futures Flat As Dollar Weakness Persists, Crude Rally Fizzles

Futures Flat As Dollar Weakness Persists, Crude Rally Fizzles

After yesterday's torrid, chaotic moves in the market, where an initial drop in stocks was quickly pared and led to a surge into the close after a weaker dollar on the heels of even more disappointing US data and Bill Dudley's "serious consequences" speech sent oil soaring and put the "Fed Relent" scenario squarely back on the table, overnight we have seen more global equity strength on the back of a weaker dollar, even if said weakness hurt Kuroda's post-NIRP world and the Nikkei erased virtually all losses since last Friday's surprising negative rate announcement.

Europe Falls, U.S. Futures Rise As Oil Halts Two-Day Plunge

Europe Falls, U.S. Futures Rise As Oil Halts Two-Day Plunge

While the biggest news of the night had nothing to do with either oil or China, all that mattered to US equity futures trading also was oil and China, and since WTI managed to rebound modestly from their biggest 2-day drop in years, continuing the trend of unprecedented, HFT-driven volatility which has far surpassed that of equities and is shown in the chart below...

Israeli & US Arms Companies Win £500 Million UK Military Contract

US military contractor Kellogg, Brown and Root (KBR) and Israeli arms company Elbit Systems have won a £500-million contract to provide aircraft training for the UK military. RT reports: The Affinity venture, in which the two are partners, will provide fixed wing training for sections of the UK Armed Forces concerned with aviation. Affinity’s component is part of a larger deal led by Ascent Flight training and worth £1.1 billion. Ascent is itself a fifty-fifty venture between international arms firms Babcock and Lockheed Martin.

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