UK tries to secure peoples pensions

Daily Analysis - 19/02/2019

Great time to invest in FTSE or not?


There has been an effort by the UK Government to push their people to protect and save their money for their retirement. This was because there was a substantial number of people who did not save money for their retirement. Also, those who considered saving money saved too little, too late. So, back in 2013, about 10M qualified workers were eligible and automatically approved for workplace pensions. Nevertheless, from April 5 this year, their participation will grow from 3% to 5%. Employer's minimum participation will also rise from 2% to 3 %, thereby increasing the funds in the FTSE pool.  A major setback for business investments in the UK is the Brexit. When the Brexit matter comes to an end investments should improve and create more confidence. This for sure could mean an exceptionally good time for the FTSE 100.

Asia markets mixed due to US-China uncertainty

On Tuesday afternoon Stocks in Asia remained mixed due to resumed geopolitical uncertainties, with China involving the U.S. for supporting cybersecurity fears. Traders also anticipated improvements on the US-China trade front. On Monday the U.S administration stated that trade talks between the two economic superpowers will resume in Washington on Tuesday, with higher level discussions starting later in the week. The Shanghai Composite rose more than 0.1% while the Shenzhen component fell 0.443. The Shenzhen composite dropped about 0.221% lower.


EU Focus now – ECB policy

On Tuesday, the greenback was steady versus while the U.S. markets remained closed for a holiday the previous day. In the meantime, the euro's latest retracement decreased as the focus went back to European Central Bank policy. The euro changed little at $1.1311 following the uptrend of more than 0.1% overnight.

The dollar index versus a bucket of six important currencies was little changed at 96.783 following the close of the previous session consolidation. On Monday the U.S. markets were shut for the Presidents' Day.


Brent eases from its tops

On Tuesday the Brent crude oil slid away from this year’s top due to worries that economic growth may decrease the fuel request for 2019. The supply cuts led by producer cartel OPEC did not help much.

International Brent crude oil futures were down at $66.07 per barrel from their last end, but still near the 2019 tops of $66.80 a barrel.

The U.S. West Texas Intermediate (WTI) crude futures were at $55.70 per barrel.


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