The US dollar took a hit, finally correcting its gains, but it didn’t fall too far. UK inflation data, Mario Draghi and Janet Yellen’s speeches, US Retail sales are the major events on our calendar for this week. Here is an outlook on the main market movers coming our way. Despite continuous posi…
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Forex Weekly Outlook October 13-17
The October Empire State Manufacturing survey index likely remained solid but retraced a few points following a jump in September. The Empire State Manufacturing index of general business conditions likely declined to 21.0 in October after a nearly 13-point jump to 27.54 in September. In the…
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US Week Ahead: Retail Sales, PPI, IP, Beige Book, Empire-, UMich Svy, Philly Fed, Housing
The October Empire State Manufacturing survey index likely remained solid but retraced a few points following a jump in September. The Empire State Manufacturing index of general business conditions likely declined to 21.0 in October after a nearly 13-point jump to 27.54 in September. In the…
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US Week Ahead: Retail Sales, PPI, IP, Beige Book, Empire-, UMich Svy, Philly Fed, Housing
A somewhat mixed week ahead in terms of economic announcements, where the quantity of releases is negated by a lack of quality. In the US, a speech from Janet Yellen on Friday allows markets to gauge exactly where the Fed stands following somewhat dovish FOMC minutes. In the UK, Wednesday’s jobs…
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Weekly market preview – 13 October 2014
A somewhat mixed week ahead in terms of economic announcements, where the quantity of releases is negated by a lack of quality. In the US, a speech from Janet Yellen on Friday allows markets to gauge exactly where the Fed stands following somewhat dovish FOMC minutes. In the UK, Wednesday’s jobs…
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Weekly market preview – 13 October 2014
Bank of Japan Governor Haruhiko Kuroda said there was no gap in views between the government and the central bank that a weak yen was positive for the world’s third-largest economy. He also appeared unfazed by recent sharp declines in global stock and crude oil prices, saying that the rise in mar…
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BOJ Kuroda says no gap in view with gov’t on weak yen benefits
Regulators in the U.S. and U.K. will carry out their first so-called war game to simulate the failure of a major cross-border bank as they test their defenses against the type of crisis that crippled the financial system in 2008. The exercise, involving Federal Reserve Chair Janet Yellen and Bank…
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U.S. and U.K. Plan Banking ‘War Game’ to Test Crisis Defenses
Saudi Arabia plans to sell oil cheap for political reasons, one analyst says. To pressure Iran to limit its nuclear program, and to change Russia’s position on Syria, Riyadh will sell oil below the average spot price at $50 to $60 per barrel in the Asian markets and North America, says Rashid Ab…
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Saudi Arabia to pressure Russia, Iran with price of oil
European Central Bank Executive Board member Peter Praet said Friday that the volatility surrounding inflation expectations in the Eurozone requires “extra vigilance” by the Governing Council but insisted its new package of measures will deliver price stability in the medium term. In prepared rem…
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Praet: Inflation Expectations Require ‘Extra Vigilance’
The dollar’s strength may be finally irritating Washington. Earlier this week, U.S. Treasury Secretary Jacob Lew didn’t seem all that bothered about the dollar’s recent rise. But Friday he reminded his counterparts meeting at the annual IMF and World Bank meetings here that they need to stick to …
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Dollar Strength May Be Irritating Washington
Petrobras (PBR) operates the majority of Brazil’s total refining capacity. By the end of 2013, its distillation capacity was 2.1 million barrels per day (or MMbbl/d) in 12 refineries.
On October 8, the U.S. Energy Information Administration (or EIA) released inventory data for the week ended October 3.
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Why did last week’s crude oil inventory build beat expectations?
U.S. stocks fell on Friday, extending a rout that had the S&P 500 erasing its biggest rally in a year, with computer-chip manufacturers especially hard hit a day after Microchip Technology lowered its sales outlook. “Exhaustion has almost set into the market. The volume is getting lower because p…
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Worst week for S&P 500, Nasdaq since May 2012
Former Federal Reserve Chairman Ben Bernanke said on Friday on that prior to the 2008 bailout of American International Group (AIG.N), he was concerned that the insurer “was on the brink of default” and not about punishing AIG. Bernanke’s comments came in a fifth day of testimony by former top g…
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Ex-Fed Chair Bernanke: wanted to stop AIG default, not punish firm
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Traders in Financial Futures – Options and Futures Combined Positions as of October 7, 2014
•ECB doesn’t have an interest rate target •Quantitative easing is not being discussed •ECB should first see how current measures work Nowotny made similar comments on sovereign QE before. The currency jawboning along with the France ratings news is a good reason to sell the euro late in the week.
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Nowotny: ECB expects a depreciation of the euro against the dollar
BREAKING
Thank you for that introduction. It’s a pleasure to be here before such an esteemed audience of bankruptcy professionals. You might be wondering why a central banker, the head of a regional Federal Reserve Bank, is interested in bankruptcy — particularly since distressed banks and other financial…
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Lacker: Rethinking the Unthinkable: Bankruptcy for Large Financial Institutions
A key gauge of deflation risk in Europe is flashing red, dropping to record lows on fears of fresh recession and lack of decisive action by the European Central Bank. …
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Dam breaks in Europe as deflation fears wash over ECB rhetoric
•Not much inflation in the US, growth is picking up •US not experiencing significant inflationary pressure •US growth will accelerate in the next six months Not very hawkish for a super-hawk. I’m starting to believe there’s little hope for a Fed hike in the first 5 months of 2015.
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Fed’s Fisher: All told, our economy is on the mend
