Business Secretary Vince Cable said Britain’s economic growth is being hampered by stalled exports, partly as a result of the high value of sterling. “Arguably, the pound is overvalued by 10 to 15 percent on a trade-weighted basis,” Cable told a side meeting today at his Liberal Democrat party’s …
More here:
Cable Says Pound Overvalued 10, Holding Back Exports
China’s central bank said on Sunday it will use various monetary tools to maintain adequate liquidity and reasonable growth in credit and social financing. In a statement to summarize the third-quarter monetary policy committee meeting, the People’s Bank of China also said it would continue to im…
See the original post:
China’s central bank vows to maintain steady credit growth
Is there a wage growth puzzle? Justin Wolfers says there is, and uses this picture: to claim: This puzzle isn’t entirely new, as the usual link between unemployment and the rate of wage growth has totally broken down over recent years. The recent data have made a sharp departure from t…
See the rest here:
Is There a Wage Growth Puzzle?
We expect this EUR depreciation trend to be a multi-year one, returning EURUSD to lows not seen in over a decade. As a market consensus develops around this idea, we expect already negative hedging costs at a multi-year horizon to accelerate the EUR’s slide as long-term investors and corporates…
Read more here:
EUR/USD Heading To Lows Not Seen In Over A Decade – Barclays
World policymakers gather in Washington later this week to ponder how to sustain economic recovery at a time when the United States is about to turn off its money taps. Given the same G20 finance ministers and central bankers met in Australia only two weeks ago it is not hard to guess how the deb…
Remember Greece: the country that in 2010 launched Europe’s sovereign solvency crisis and the ECB’s own helpless attempts at intervention, which later was “saved”, only to default shortly thereafter (but without triggering CDS as that would end the Eurozone’s amusing monetary experiment and collapse…
A leading member of German Chancellor Angela Merkel’s Bavarian sister party criticised European Central Bank chief Mario Draghi on Saturday, saying he was turning the institute into a “junk bank” with his plans to buy debt rated as junk. In a stinging attack, Hans Michelbach of the Christian Soc…
View post:
Merkel ally says Draghi turning ECB into a ‘junk bank’
EUR/USD had its moments of recovery, but eventually closed the week at new lows. Is the round number of 1.25 a bottom, or just another stepping stone on the way down? Yet another speech from Draghi as well as some important German data dominates this week’s trading. Here is an outlook on the…
View original post here:
EUR/USD Forecast Oct. 6-10
Japanese Prime Minister Shinzo Abe remains “completely neutral” on whether to raise the national sales tax, Economy Minister Akira Amari said on Sunday even as he expressed concern about the strength of the country’s economic recovery. Abe faces a tough decision by year’s end on whether to raise …
Read the rest here:
Japan PM still ‘neutral’ on tax hike but recovery weak: economy minister
The US dollar had another good week, rising against all the major currencies. The strength of the US employment report, especially in the context of disappointing eurozone and UK PMI data, ensured that the consolidative phase was short-lived. After dropping nearly two big figures, the dollar…
Original post:
Dollar Bulls Ahead
John Lewis, the retailer regularly voted the UK’s best by customers, has a pretty friendly brand. Its mutual business model is regularly praised as one for the entire country to copy. So you might have expected, after being awarded the status of one of the world’s best retailers in Paris this wee…
More here:
France Is ‘Finished’ Says UK’s Best Retailer
After an exceptional increase in July (1.9% MoM) German industrial activity will likely fall sharply in August. We expect a decline of 1.5% MoM, pushing down the annual growth rate to -0.5% YoY from +2.4%. Data provided by the Association of the Automotive Industry (VDA) also showed that the…
See original here:
Europe Week Ahead: BoE, UK IP, German IP, French IP, Italian IP, Spanish IP
The US dollar did experience a correction, but this did not last too long and it eventually ended the first week of Q4 with gains across the board. Rate decisions in Japan and the UK, employment data in Australia and Canada and the FOMC Meeting Minutes are the major market movers on FX calendar week…
Originally posted here:
Forex Weekly Outlook October 6-10
The U.S. Energy Information Administration reported a 112 Bcf natural gas inventory build for the week ending September 26.
Here is the original post:
Natural gas inventory figures crush analysts’ expectations
Gold prices have declined 12%—from the peak of $1,385 per ounce. The peak was reached in March. In 2014, gold is currently trading at its lowest levels. Investors usually view gold as an inflation hedge….
Read more from the original source:
Gold’s key indicators—why gold’s price could decrease more
Apart from shipping companies, coal producers (KOL) around the world benefit from China’s coal imports. However, competition in the Pacific market remains steep.
Continued here:
China’s thermal coal imports—who benefits?
Succinct Summation of Week’s Events: Positives: 1) US economy added 248k net new jobs in September; two prior months were revised up by a total of 69k. 2) Unemployment rate falls two tenths unexpectedly to 5.9%, the lowest since July ’08. Average weekly hours ticks up to 34.6, the most…
Read the rest here:
Succinct Summation of Week’s Events 10.3.14
TABLES
See original here:
Traders in Financial Futures – Options and Futures Combined Positions as of September 30, 2014
The further one digs into today’s “blockbuster” jobs report, the uglier it gets. Because it is not only the participation rate collapse, the slide in average earnings, but, topping it all off, we just learned that the future of the US workforce is bleak. In fact, with the age of the median employed…
Go here to see the original:
"Hiring Grandparents Only": 230K September Jobs Added In 55-69 Age Group; 10K Lost In Prime, 25-54 Group
When the Japanese yen began its long descent in late 2012 — around the time it became clear Shinzo Abe would be elected to another prime-ministership — the executives running Japan’s top corporations seemed to believe that the lower the currency, the better, regardless of all else. But since then…
Read the original:
Japan Inc. begins to turn against the weak yen
