Author Archives: Trading Advantage

The AUDUSD pair has rejected the major long term support level of 0.865 this week and pushed higher overnight. The shorter term timeframes point to a flag coming into play, which is likely to provide another leg higher in the near future. The daily chart below shows yesterday’s hammer formation w…

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AUDUSD flag could point to further upside

The European Central Bank kept interest rates unchanged at record lows as investors wait for President Mario Draghi to reveal details of a plan to buy assets. The 24-member Governing Council left the main refinancing rate at 0.05 percent at its meeting today in Naples, Italy. The decision was pr…

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ECB Keeps Rates on Hold as Focus Shifts to Asset Buying

Monthly job cuts fell to their lowest level in 14 years in September, as U.S.-based employers announced workforce reductions totaling 30,477 during the month. As the fourth quarter begins, 2014 is on pace to be the lowest job-cut year since 1997. The September total plunged 24 percent from the 4…

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Challenger Job Cut Report: 30,477 Cuts Could Spell Lowest Year Since 1997

The following are the expectations for today’s October ECB meeting as provided by the economists at 15 major banks. Goldman: We expect rates on hold (Main Refinancing Rate on hold at 0.05%, in line with consensus). The ECB will publish technical documents on how it intends to proceed on the ABC…

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What To Expect From ECB? – Views From 15 Major Banks

The ECB meeting and details about the asset purchase plan is the key event of the day. However, there is something else happening. A string of disappointing US data and the sell-off in equities have sparked a bond market rally that again has caught many participants wrong-footed. The US 10-y…

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More than the ECB

Bill Gross’ exit from Pimco has seen billions of dollars leave the fund group and even more value wiped off the share price of its parent company, offering a warning both to firms who rely on star managers and the investors who chase them. Gross’s flagship Pimco Total Return Fund (PTTRX.O) lost …

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As PIMCO bleeds assets, Gross shows risk of star culture

George W Bush’s controversial Defence Secretary Donald Rumsfeld entered the language years ago when he talked about life’s “unknown unknowns” — the things we do not know we don’t know. Kristin Forbes, a White House advisor herself a decade before joining the Bank of England’s monetary policy…

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‘Unknown unknowns’ worry Bank of England’s US recruit Kristin Forbes

When Mario Draghi writes his first check to pay for asset purchases, he might not use much ink. While the European Central Bank president pledged to start a program this month to buy asset-backed securities and covered bonds, initial buying in those markets will probably be modest, according to …

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Draghi’s Buying Spree for the ECB Might Start Modestly

•says Russia will remain an open market economy •Russia will shift to national currencies in trade with China and other countries

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Putin: Russia will not impose restrictions on cross-border capital and currency flows

After a year in which world markets have sailed effortlessly through wars, invasions and geopolitical ferment, a storm of their own making may well be brewing. Investors have mostly held their nerve as headlines lurched from a new ‘Cold War’ in eastern Europe to conflict and Western intervention…

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Financial market storm brewing as 2014 winds down

The Bank of England gave a clean bill of health to Britain’s controversial flagship mortgage guarantee scheme on Thursday, sparing the government from potential embarrassment in the run-up to a national election. The central bank also formally asked to expand its arsenal of powers to curb mortgag…

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Bank of England backs flagship government mortgage guarantee scheme

British construction activity grew at one of the fastest rates on record last month, though slower rises in new orders and employment raise questions about the durability of the upturn, a survey of purchasing managers showed on Thursday. The Markit/CIPS construction PMI rose to 64.2 in September…

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UK construction PMI rises to 8-month high in Sept

The Chancellor of the Exchequer announced in June that HM Treasury wanted to grant the …

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Bank of England Financial Policy Committee statement

Strong output growth was maintained across the UK construction sector in September, supported by sharp rises in housing, commercial and civil engineering activity. However, while the overall performance of the construction sector was close to its strongest since the summer of 2007, latest data…

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Sharpest expansion of UK construction output for eight months

While all the western banks are clearly envious at the facility with which Zimbabwe managed to hyperinflate away its debt mountain after simply printing a few trillion in fiat monetary equivalents, which instead of the stock market hit the broader economy, there is much more the “developed” world…

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Zimbabwe’s Unemployment Rate Is 4%, 10.7%, 60% Or 95%

Unemployment is much more damaging to society than moderate levels of inflation, making central bankers’ disproportionate focus on the level of consumer price growth misguided, a former Bank of England rate-setter now at Dartmouth College writes in a new paper. Along with three co-authors, David …

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Unemployment Hurts Happiness More Than Modest Inflation, New Paper Says

Define irony. Literally hours after financial entertainment outlet CNBC wrote an article in which it said that “As fourth quarter kicks off, there’s one market in Asia that has investors excited: Japan” the Nikkei crashed. First, some more humor from CNBC, which quotes JPM who apparently does not…

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Nikkei Plunges 420 Points, Topix Tumbles 3%, Most Since March

The number of registered unemployed in public services employment has risen by 19,720 people in September. Thus, the registered unemployment stood at 4,447,650 people in September. This is the lowest increase since September 2007 Over the past six years, the registered unemployment had increased…

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Spain: The total number of registered unemployed stood at 4,447,650

at any time; According to Rtrs reporting an interview in Frankfurter Allgemeine Zeitung published today, but comments are nothing new. Just more jawboning; The minimum exchange rate remains the absolute central tool to maintain adequate monetary conditions; doesn’t see interest rate…

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SNB’s Jordan says they could take additional measures to enforce CHF cap