Author Archives: Trading Advantage

For Canadian retail FX stalwart OANDA Corporation, the approach to social trading has been something of an engima. In its foray into the provision of social trading, the company developed its own proprietary social trading network which was offered under the commercial brand of fxUnity. Despit…

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OANDA moves away from social trading one year after buying Currensee

Shortly before the markets open in the US on Friday, the national statistics agency in the UK will report the nation’s latest trade balance data. The UK has maintained its range of steady growth over the past couple of quarters, but fresh concerns that the slowdown in Europe could impact the U.K….

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Trade Balance Data Offers Insight into George Osborne’s Concerns

Comments from Kuroda ahead of the G20: • Says won’t comment about FX levels • Says forex may be discussed at G20, won’t be major topic • No change to view global economy to gradually accelerate toward next year • IMF’s downgrade to Japan GDP estimates due to larger effect of sales …

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BOJ’s Kuroda: Will tell G20 Japan making steady progress toward 2% inflation target

Edward Quince was arguably the most powerful person in the world in the fall of 2008, with the fate of financial markets resting on his high-stakes decisions. It turns out he didn’t actually exist. Mr. Quince was the pseudonym then-Federal Reserve Chairman Ben Bernanke used on emails when he w…

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Meet Edward Quince, the Secret Federal Reserve Chairman in 2008

Comments from Fischer at an IMF forum: Rates will probably rise ‘relatively slowly’ but it will be data driven. We think capital markets have it ‘relatively right’ “Markets have it relatively right, somewhere in the middle of the year”

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Fed’s Fischer says ‘considerable time’ is somewhere between two months and a year

Judging from the recent remarks by European officials, policy positions are hardening once again in the euro zone. Fueled by disappointing economic performance, the risk is that the deepening difference in views in Europe will further complicate a much-needed recovery. This is regrettable because it…

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Beware of Europe’s Policy Hardening

• Doesn’t see need for QE in Europe yet • Doesn’t rule out QE ‘eventually’ • Must judge if current efforts are working before QE talk The euro has rebounded to 1.2700 but it’s part of a broader USD slip.

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Nowotny says ECB not yet ready for QE, needs discussion, thought

Talking to the BBC, he said this was a “critical moment for the British economy”, which was not “immune” from what was happening on the continent. The eurozone economy was stagnant between April and June, with the German economy – Europe’s biggest – shrinking by 0.2%. Mr Osborne said there wer…

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Osborne warns eurozone slowdown will impact UK economy

BREAKING

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Bullard concerned that market path of interest rates lags Fed’s

U.S. stocks dropped on Thursday, reclaiming a portion of prior-day gains, as investors considered corporate earnings and a decline in weekly jobless claims. Gap fell sharply after the retailer tallied disappointing sales in September and said its chief executive officer would depart; PepsiCo gain…

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Dow falls 225 points; investor anxiety reigns

Brazil’s real led global currency declines before the publication of voter polls gauging support for President Dilma Rousseff and opposition candidate Aecio Neves in the runoff election later this month. The currency fell for the first time in five days, slipping 0.6 percent to 2.3918 per U.S. do…

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Brazilian Real Leads Global Drops Before Poll Results Published

In remarks delivered at the Brookings Institution in Washington, Mario Draghi underlined the urgent need to raise potential output in the euro area through reforms. “Put simply, I cannot see any way out of the crisis unless we create more confidence in the future potential of our economies”, he said…

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Draghi: Recovery and Reform in the euro area

VIDEO

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The ECB and the Eurozone: A Conversation with Mario Draghi

The US dollar’s upside momentum has faded, but oil prices remain depressed. Many observers try, too hard perhaps, to link the decline in commodity prices in general, and oil in particular, to the appreciation of the dollar. Yet the situation is considerably more complicated. There is a case t…

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Oil: More about Supply than the Dollar

Here’s another new reason Federal Reserve officials might be wary of raising short-term interest rates very quickly: Inflation expectations in the U.S. are sinking. By one measure they’ve dropped by a greater magnitude in the U.S. than in Europe in the past few months. Market expectations for U.S…

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Look Out for Falling U.S. Inflation Expectations

U.S. wholesale inventories rose by 0.7% in August, the U.S. Commerce Department said Thursday. Inventories of durable goods, such as autos and machinery, rose 0.8%, while inventories of nondurable goods rose 0.5%. Wholesale sales fell 0.7%, following a 0.4% gain in July. At August’s sales pace, the…

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U.S. wholesale inventories rise 0.7% in August

Mario Draghi’s policy tools are being blunted in Berlin. The European Central Bank president has stopped short of large-scale sovereign-bond purchases as efforts to mollify Germany’s political elite do little to silence criticism of his ever-more expansionary measures. Support for anti-euro grou…

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Draghi Policies Blunted in Berlin as German Protests Grow