Author Archives: Trading Advantage

Three regional Federal Reserve banks in September pressed again for an increase in the Fed’s emergency lending rate ahead of last month’s Fed policy meeting, according to minutes released on Tuesday. Directors of the Dallas, Kansas City and Philadelphia Feds asked that the discount rate be raised…

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Three Fed banks pushed again for discount rate hike – minutes

Latest expectations for third-quarter growth in the mid- to upper-3% range were bolstered at the cost of a less favorable composition of gross domestic product (GDP) as more unsold goods appeared to have piled up in the economy. Economists at Moody’s Analytics added 0.3 percentage points to their…

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US Retail Sales to Drop First Time Since January

Consumers’ expectations for inflation are mostly unchanged in September, a survey from the New York Federal Reserve Bank shows Tuesday, but growth expectations for household income have risen to a new 16-month high. The latest Survey of Consumer Expectations from the New York Fed shows the one-ye…

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NY Fed Survey: Income Growth Expectations Hit 16-Month High

Subject to review and determination by the Board of Governors, the directors of the Federal Reserve Banks of Cleveland, Richmond, and San Francisco had voted on August 14, 2014, and the directors of the Federal Reserve Banks of Boston, New York, Atlanta, Chicago, St. Louis, and Minneapolis had vo…

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Minutes of Board of Governors discount rate meetings

The head of the San Francisco Federal Reserve Bank on Tuesday said he would be open to another of round asset purchases if inflation trends were to fall significantly short of the U.S. central bank’s target. Although he said it would take a big shift in the U.S. economic outlook for the Fed to re…

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More QE might be appropriate if U.S. economy faltered- Fed’s Williams

Steve Cohen’s new family office is taking a largely unprecedented step to push employees to be highly ethical and civic-minded: a cash bonus. The sullied billionaire investor continued his rebranding campaign in October after the hedge fund firm he founded, SAC Capital Advisors, pleaded guilty to…

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Extra cash for good behavior at Cohen’s Point72

Monetary policy isn’t quite as universally easy as zero interest rates suggest, especially among the eurozone’s most fragile countries. Although, official central bank rates are in effect nil across all major economies–and even negative in the case of the European Central Bank’s deposit rate for …

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Falling Inflation Makes Policy Less Easy

Personal wealth around the world grew by 8.3 per cent last year to $263-trillion (U.S.) despite a still-sluggish economy, according to a study by Credit Suisse AG. And the richest 1 per cent of the world’s population own almost half of the global wealth, the survey – published Tuesday – found. …

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Personal wealth rising at ‘fastest rate ever recorded,’ study finds

SF Fed President Williams spoke with Reuters in an interview: •Worried ECB response to possible eurozone stagnation won’t be fast or aggressive enough •Market expectations of Fed policy fundamentally accurate •Would consider further asset purchases if inflation outlook starts to fall, through tha…

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Fed’s Williams: No change in his mid-2015 rate liftoff projection despite concern about global growth

Hungary’s position on the forint for most of this year was best summed up by the economy minister’s call in March for the country to take advantage of its declines to boost exports. That changed this month. On Oct. 1, the European Union warned that Hungary risks falling back into the excessive…

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EU Warning Heard in Budapest as Traders Bid Up Currency

An EU source cited by Reuters says Italy’s budget plan is likely to be seen as a “serious violation” of EU rules and be rejected. That’s exactly the kind of thing that will drive a country out of the eurozone, sooner or later.

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European Commission likely to reject Italy’s budget – RTRS

Demand for oil in 2015 will grow far slower than previously forecast as global economies remain weak, the International Energy Agency said on Tuesday, and prices may extend their sharp fall so long as OPEC shows no sign of countering a supply surge. The IEA said it cut its 2015 estimate for oil d…

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IEA sees 2015 oil demand growth much lower, supply hitting prices

The Great Britain Pound (GBP) extended downside movement against the Australian Dollar (AUD) on Tuesday, dragging the price of GBP/AUD to less than 1.8270 following the release of downbeat CPI figure. The short term bias remains bearish due to Lower High in the recent upside rally. Technical Anal…

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GBP/AUD On Verge of Breakout As Descending Triangle Looks Vulnerable

Bond markets are notoriously fickle, often driven by sentiment rather than rigorous macroeconomic analysis, and, as the 2008 global financial crisis demonstrated, they are far from infallible. They can also be particularly unreliable when assessing an economy’s long-term prospects. Though interes…

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Eurozone Budgets Under the Spotlight

That the eurozone is experiencing lowflation, which is threatening to morph into deflation, is well appreciated. What is less appreciated that it is not just a function of ECB policy. The UK and Sweden both reported softer than expected inflation data. And it is not just in Europe. China is expe…

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UK and Eurozone Core CPI Converging