GBPUSD now posting new highs since Friday’s fall with a break of 1.6100 triggering stops to 1.6117. Currently 1.6107; I’ve been square since finishing here yesterday after 1.6000 held and keeping my powder dry since. Will see what happens here for possible re-entry to short; EURGBP been down t…
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Proud pound marches higher
German industrial production (GRIPIMOM) fell more than economists forecast in August in the latest sign that the outlook for Europe’s largest economy is deteriorating. Production, adjusted for seasonal swings, dropped 4 percent from July, when it expanded 1.6 percent, the Economy Ministry in Berl…
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German Industrial Output Drops Most Since 2009 in August
In August 2014, production in industry was down by 4.0% from the previous month on a price, seasonally and working day adjusted basis according to provisional data of the Federal Statistical Office (Destatis). In July 2014, an increased a revised 1.6% from June 2014. Production in industry excluding…
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German Production in August 2014 down a seasonally adjusted –4.0% on the previous month
The leading index for Japan decreased as expected in August, preliminary figures from Cabinet Office showed Tuesday. The leading index fell to 104 in August from 105.4 in July. This was in line with the consensus estimate. The latest reading was the lowest since January 2013. The coinciden…
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Japan Aug Leading Index Falls As Expected
The Bank of Japan maintained its record stimulus as the yen traded near a six-year low and economists pushed back forecasts for further monetary easing. The central bank kept its pledge to increase the monetary base at an annual pace of 60 trillion yen to 70 trillion yen ($643 billion), it said i…
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BOJ Keeps Policy Unchanged With Yen Near Six-Year Low
Seems like Abe & Co still the back foot re the weakening of yen due to Abenomics; There’s been a few of these comments lately amidst increasing dissent from Japanese business;
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Japan’s Abe says weak yen not the only factor in rising price of energy
Econ min speaking in parliament; Nothing new in the comments so far but USDJPY falling to 109.75
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Japan’s Amari says govt is trying to minimize damage of weak yen on companies
Industrial reports for Germany and Britain are in focus today. With Europe’s economic trend looking increasingly troubled, the monthly updates on output for these two countries will be closely analysed. Later, the relatively resilient labour market in the US is under review with the government’s…
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3 Numbers: Red ink for German industrial output, UK activity, US jobs
A sizable portion of the U.S. public thinks Alan Greenspan, who retired as Federal Reserve chairman in 2006, still runs the central bank. A near-majority has no idea who occupies one of the most powerful positions in the global economy. That’s according to a Pew Research Center poll conducted Sept….
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One in Six Americans Thinks Greenspan Still Runs the Federal Reserve
Falling commodity prices will hurt Australian government efforts to rein in its budget deficit, spurring possible new savings measures, according to Treasurer Joe Hockey. “Lower commodity prices in iron ore and coal are going to have an impact on our budget bottom line,” Hockey said in an intervi…
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Hockey Says Falling Commodity Prices to Hurt Australia’s Budget
In a special note, Deutsche Bank argues that both “secular stagnation” and “normalization” are incomplete frameworks for understanding the post-crisis world and instead, “Euroglut” – the global imbalance created by Europe’s massive current account surplus will be the defining variable for the rest…
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‘Euroglut’: EUR/USD Heading Towards 0.95 – Deutsche Bank
The last month has not been an enjoyable time for the Australian dollar as it endured a strong decline moving from close to 0.94 down to below 0.8650 and an eight month low in the process. For the last week or so it has taken a breather above 0.87 by rallying back to 0.8750 and more recently…
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AUD/USD – Meeting Stiff Resistance at 0.88 Level
NZ FinMin English: Return to budget surplus next yr uncertain; NZD level a challenge for exporters; dairy prices fell faster than expected
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NZ FinMin English: Return to budget surplus next yr uncertain; NZD level a challenge for exporters
Kansas City Federal Reserve Bank President Esther George is speaking about the US economy in Albuquerque. She will be taking audience questions. Sees Q3 GDP growth coming in over 3% More: Says payrolls may be understating labor demand. Labor market starting to look more balanced. Says should …
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Federal Reserve George: Sees Q3 GDP growth coming in over 3%
Kuroda: will make policy adjustments if hard to reach target; will add stimulus if downside risks emerge
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Kuroda: will make policy adjustments if hard to reach target
A majority of the Bank of Japan’s board members think it should drop the two-year timeframe for meeting its inflation target, according to people familiar with discussions inside the BOJ. Board members are concerned that investors may view April 2015 as a binding deadline, fueling speculation tha…
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BOJ Majority Said to Favor Ditching 2-Year Price Timeline
I had this earlier: What time is the BOJ announcement due? …
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The BOJ announcement is expected later than earlier thought
Uncertainty ahead of the Scottish independence referendum in August, as well as weaker soft data, suggest that output in the UK manufacturing sector slowed down in August. The final estimate for second-quarter gross domestic product (GDP) also showed factories’ output had slowed down between the…
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UK Factory Output Data Unlikely to Show Upside Surprise
The Waldorf Astoria in New York is being sold to a Chinese insurance company for $1.95 billion. Conrad N. Hilton acquired the iconic luxury hotel 65 years ago and on Monday Hilton Worldwide (HLT) announced its sale to Anbang Insurance Group. Hilton will continue to operate the Waldorf for the nex…
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Waldorf Astoria sold to Chinese company for $1.95 billion
The British Pound may be readying to turn higher against the Japanese Yen after prices put an Inverted Hammer candlestick. Near-term resistance is at 176.35, the 38.2% Fibonacci retracement, with a break above that on a daily closing basis exposing a former range bottom now recast as resistance at…
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GBP/JPY Technical Analysis: Trying to Carve Out a Bottom
