An index of German analyst and investor morale fell below zero for the first time in nearly two years in October, suggesting Europe’s largest economy is reeling from crises abroad and a weak euro zone, while weak German data has also hit the mood. Mannheim-based think tank ZEW’s monthly survey of…
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German investor morale plunges to lowest level in almost 2 years
BREAKING
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ZEW Fuest: if inflation expectations continue to decline, QE justified
The ZEW Indicator of Economic Sentiment for Germany drops by 10.5 points in October 2014 and now stands at minus 3.6 points (long-term average: 24.5 points). Decreasing for the tenth consecutive time, the index has returned to negative territory for the first time since November of 2012. “ZEW’s…
In August 2014 compared with July 2014, seasonally adjusted industrial production1 fell by 1.8% in the euro area2 (EA18) and by 1.4% in the EU282, according to estimates from Eurostat, the statistical office of the European Union. In July 20143 industrial production rose by 0.9% and 0.7% respectiv…
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Industrial production down by 1.8% in Euro area
U.K. inflation slowed more than economists forecast in September as falling oil prices and a stronger pound lowered the cost of imports. The rate of consumer-price growth dropped to 1.2 percent from 1.5 percent in August, the Office for National Statistics said today. That’s the lowest since Sep…
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U.K. Inflation Rate Falls to Five-Year Low of 1.2%
•UK house prices increased by 11.7% in the year to August 2014, unchanged from the year to July 2014. •House price annual inflation was 12.2% in England, 4.7% in Wales, 6.7% in Scotland and 9.6% in Northern Ireland. •House prices are increasing strongly across the UK, with prices in London again …
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UK House Price Index, August 2014
•The output price index for goods produced by UK manufacturers (factory gate prices), fell 0.4% in the year to September, compared with a fall of 0.3% in the year to August. •Factory gate prices fell 0.1% between August and September, unchanged since May. •Core factory gate prices, which exclude t…
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UK Producer Price Inflation, September 2014
•The Consumer Prices Index (CPI) grew by 1.2% in the year to September 2014, down from 1.5% in August. …
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UK Consumer Price Inflation, September 2014
Head Of Catalonia Says There Will Be A Vote Nov 9 But Referendum Will Not Go Ahead As Previously Planned
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Catalonia Head: There Will Be Nov 9 Vote But Referendum Will Not Go Ahead
Deep in the European Central Bank’s Frankfurt headquarters, there’s a room sealed off from the world. In the Dark Room, as it’s referred to internally, staffers are combing through almost 39,000 points of data on the euro area’s 130 biggest banks before the results of the ECB’s Comprehensive Ass…
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ECB Dark Room Crunches Bank-Test Data Amid D-Day Nerves
Still haunted by its failed attempt to prevent a steep drop in oil prices by slashing production by almost three quarters in the 1980s, the world’s top oil exporter Saudi Arabia is determined not to make the same mistake again. The oil glut of the 1980s, the early days of the modern crude market…
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Facing new oil glut, Saudis avoid 1980s mistakes to halt price slide
The following are the intraday outlooks for EUR/USD, EUR/GBP and S&P500 as provided by the technical strategy team at SEB Group. EUR/USD: Over 1.2791 would target 1.2880/00. It was a strong day for the euro yesterday and it hints of a more pronounced three-wave correction in the making, ideally…
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Intraday Outlooks For EUR/USD, EUR/GBP, SP500 – SEB
European Central Bank President Mario Draghi’s pledge to do “whatever it takes” with a bond-buying plan to save the euro-area goes on trial before the European Union’s top judges today. The Court of Justice, the bloc’s highest court, will weigh whether Draghi’s ECB overstepped its powers in 2012…
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Draghi’s ‘Whatever It Takes’ Plan Faces Trial at EU Court
The Consumer Prices Index (CPI) decreased by 0.4% in September 2014, after rising by +0,4% in August. Seasonally adjusted, it diminished by 0.1% after +0.1% in August 2014. Year-on-year, the CPI grew by 0.3%, slightly down from the previous month (+0.4% in August 2014). Excluding tobacco, the CPI…
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French Consumer price index – September 2014
Traders are quick to try and spot the perfect entry. This is tricky because the perfect entry is found only in hindsight and is often more luck than skill because to identify the perfect entry is to identify how the collective whole of the market will act before they do. Instead of finding the…
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Patience Pays When You See This Price Pattern Correction
The highest-ranking bank regulators in the U.S. and U.K. met Monday morning in a suburb of Washington D.C. to conduct a simulation of how they would handle the collapse of a major international bank. The U.S. team included Federal Reserve Chairwoman Janet Yellen and Treasury Secretary Jacob Lew. …
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U.S. and British regulators simulate a major bank failure
The leader of Spain’s Catalonia region will call off a referendum on independence from Spain planned for Nov. 9 and look for alternative ways to consult Catalans, a key regional political party said on Monday. Esquerra Republicana de Catalunya, a pro-independence party that backs the regional gov…
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Spain’s Catalonia to seek alternatives to independence referendum
After Monday’s lull for economic reports, new numbers will start rolling in again today, offering more opportunities for assessing the depth of Europe’s deteriorating trend. First up is the release of the ZEW data that tracks sentiment in the German financial community, followed by the hard numbers…
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3 Numbers: ZEW may drive German policy shift, Eurozone output, US mood
UBS is out with a note discussing how the world’s largest holders of US dollars such as the US financial institutions and FX reserve managers will likely allocate the USD in their portfolios going forward. The following are the key points in UBS’ note. – Behind the scenes, they have been big do…
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How Will The Big Dollar Holders Play It From Here? – UBS
While today’s market dump was certainly dramatic, it was a function of the scant liquidity in the market (as we warned would be the case first thing) and outsized moves following last week’s mauling, not the result of any fundamental (or not so fundamental) news. That could change tomorrow, and c…
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Why Tomorrow It Could Get Even Worse
