I was curious to see how the press would report on the Federal Reserve Board’s new Labor Market Conditions Index. My prior was that the reporting should be confusing at best. My favorite so far is from Reuters, via the WSJ: Fed Chairwoman Janet Yellen has cited the new index as a broader gauge …
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The Labor Market Conditions Index: Use With Care
In 2013, electricity generation growth was mainly due to increased demand towards the end of the year. Electricity demand increased because of the severe winter.
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Why stagnant electricity demand is bad for coal companies
Japanese lawmakers are flagging the need for discussion of an exit strategy to a monetary policy program that’s driving the yen lower and hurting parts of the economy. “It could be important to get involved in this issue and the government should thoroughly examine it,” lawmaker Toshihiro Nikai …
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Japan Lawmakers Flag Need for Exit Strategy as Yen Falls
The Bank of England will need to consider raising interest rates to rein in Britain’s housing market if controls designed to curb risky lending prove insufficient to see off the threat to financial stability, the International Monetary Fund said. While suggesting that Threadneedle Street keep rat…
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Booming UK housing market may need interest rate rises, IMF warns
Weaker than expected data out of the euro block, mainly concerning German Industrial Production, forced traders to sell the euro currency against pound, yen, Australian dollar and kiwi in early trading. Technical Analysis Starting with the second half of September, markets have not been kind w…
A senior employee from a leading UK bank has pleaded guilty to a Libor-fixing conspiracy charge brought by the Serious Fraud Office. The man, who cannot be named for legal reasons, faces up to 10 years in jail. On Friday he became the first banker to plead guilty to criminal manipulation of Libor…
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British banker pleads guilty to Libor rigging
There were 4.8 million job openings on the last business day of August, up from 4.6 million in July, the U.S. Bureau of Labor Statistics reported today. The hires rate (3.3 percent) was down and the separations rate (3.2 percent) was essentially unchanged in August. Within separations, the quits…
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US Job Openings and Labor Turnover – August 2014
The IBD/TIPP Economic Optimism Index maintained its September reading of 45.2 in October. The index is 0.1 points above its 12-month average of 45.1, 0.8 points above its reading of 44.4 in December 2007 when the economy entered the recession, and 4.0 points below its all-time average of 49.2. N…
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US Consumer Confidence Steady in October
Our monthly estimates of GDP suggest that output grew by 0.7 per cent in the three months ending in September after growth of 0.8 per cent in the three months ending in August 2014. Note: NIESR’s monthly GDP estimates are consistent with the revised Quarterly National Accounts released by the ONS …
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NIESR: GDP growth of 0.7 percent in 2014 Q3
Corrective forces continue to take hold of the foreign exchange market. It is long overdue and does not appear to be sparked by fundamental developments per se. Many short-term momentum participants had jumped aboard what had looked (and behaved) a one-way train. Late dollar longs were in weak hands…
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Dollar Correction Continues
Grappling with an ailing euro zone economy and stagnant prices, the European Central Bank is hoping that help will come from something it cannot control: the value of the euro. As Washington prepares to stopper the supply of cheap money that has been helping it revive the United States, the euro…
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ECB quietly pins its hopes on falling euro
Stagnation in Europe and a weaker-than-forecast recovery in Japan has led the International Monetary Fund to again cut its global growth outlook, according to forecasts released Tuesday. The IMF now sees 2014 global growth of 3.3% and 2015 growth of 3.8%, a decline of 0.1% for 2014 and 0.2% for 2…
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IMF again slices global growth view on Europe, Japan woes
Brent crude oil was steady below $93 on Tuesday morning after oversupply concerns took the commodity to its lowest in level in more than a year on Monday. The commodity traded at $92.58 at 8:51 GMT on …
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Brent Steady Below $93, Helped By Weaker Dollar
The total value of building permits issued by Canadian municipalities fell 27.3% to $6.7 billion in August, following three months of double-digit increases. The August decline was mainly the result of lower construction intentions for non-residential buildings in Quebec and residential buildings in…
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Canada Building Permits, August2014
Is the large and persistent U.S. trade deficit a concern? The answer to this question depends on several factors. Under certain favorable conditions, it is possible that the trade deficit is not a major concern. The fact that the U.S. has a trade deficit means that the U.S. consumes more than …
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Is the Large and Persistent U.S. Trade Deficit a Concern?
While EUR/USD fell to a multi-year low last week on a further divergence in Fed-ECB monetary policy expectations, we see limited short-term downside from here. Our reasons for this non-consensus view are thus. First, the ECB is unlikely to make a case for additional policy action anytime soon w…
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EUR/USD: Time For A Bullish (Contrarian) View? – Credit Agricole
While EUR/USD fell to a multi-year low last week on a further divergence in Fed-ECB monetary policy expectations, we see limited short-term downside from here. Our reasons for this non-consensus view are thus. First, the ECB is unlikely to make a case for additional policy action anytime soon w…
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EUR/USD: Time For A Bullish (Contrarian) View? – Credit Agricole
Senior staff from the Libyan sovereign wealth fund were taken on a lavish trip to Morocco during the reign of Muammar Gaddafi by a Goldman Sachs banker on which there was “heavy drinking and girls involved”, the high court was told on Monday. Details of the visit were contained in a witness state…
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Goldman Sachs banker took Libyan fund staff on lavish trip, high court told
Senior staff from the Libyan sovereign wealth fund were taken on a lavish trip to Morocco during the reign of Muammar Gaddafi by a Goldman Sachs banker on which there was “heavy drinking and girls involved”, the high court was told on Monday. Details of the visit were contained in a witness state…
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Goldman Sachs banker took Libyan fund staff on lavish trip, high court told
With one trading session down and four to go this week, already the mighty U.S dollar has managed to take a healthy breather on Monday. There were several notable market moves that managed to end up handcuffing the dollar. Precious metals bounced ahead of multi-month lows to record their best day in…
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Dollar Rally Cut By EUR Options
