At 57.3 in October, down from 58.9 in September the Markit Flash U.S. Services PMI™ Business Activity Index signalled the slowest rate of output growth for six months. The index–which is based on approximately 85% of usual monthly replies–remained well above the 50.0 mark that separates expansion…
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US Service sector activity growth eases to six-month low in October
In its downed trajectory, the EUR/GBP has retraced somewhat deeper than I had envisaged in my previous report. Although expectations about the first Bank of England rate hike have been pushed out a little bit, the UK central bank is still expected to tighten its policy well before the ECB does….
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EUR/GBP falls as stress test results overshadowed by German business survey
Investors were spared immediate pain on Sunday after the European Central Bank’s landmark banking health check did not force massive capital hikes amongst the euro zone’s top lenders. But the sector’s long-term attractiveness has been damaged by revelations of extra non-performing loans and hidde…
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Europe’s bank test celebrations mask mounting challenges
French president Francois Hollande said Friday that a E1 billion rebate it is set to earn due to recently changed calculations in gross national income could be used as a bargaining tool in the country’s effort to convince authorities in Brussels it complies with the region’s fiscal rules. Speaki…
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Hollande: New EU Budget Calculation Can Improve French Budget
Sweden’s banks topped the European Banking Authority’s examination, a result the nation’s regulator says is largely due to its commitment to some of the world’s strictest capital requirements. In an adverse scenario, Sweden’s four biggest banks would have an average capital ratio of 14.6 percent…
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Toughest Bank Rules Underpin Sweden Stress Test Supremacy
Retail sales volumes continued to grow in the year to October, with another strong rise expected in the month ahead, according to the CBI. The CBI’s latest monthly Distributive Trades Survey of 124 firms showed a third successive month of firmly above-average sales growth. But sales growth was mi…
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UK High Street sales growth remains robust – CBI
Imitation, it is often supposed, is the finest form of flattery… This adage is dependent on who is doing the imitating, however. LeapRate discovered this week that retail FX giant FXCM (NYSE:FXCM) has been the subject of an attempt by a bogus company to extort clients by creating a similar name t…
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FXCM clone site fraudulently used by bogus entity to dupe customers
Investors will be handed a clue today in to just how aggressive Mario Draghi is willing to be. At 3:30 p.m. in Frankfurt, the European Central Bank will reveal much it spent on covered bonds last week after returning to that market for a third time as part of a renewed bid to stave off deflation….
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Draghi Sets Stimulus Pace as ECB Reveals Covered-Bond Purchases
The Ifo Business Climate Index for industry and trade in Germany fell in October to 103.2 points from 104.7 points in the previous month. Assessments of the current business situation were once again less favourable than last month. Expectations with regard to the six-month business outlook…
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Ifo Business Climate Index Continues to Fall
German business confidence dropped for a sixth month as the specter of a recession has come to haunt Europe’s largest economy. The Ifo institute’s business climate index, based on a survey of 7,000 executives, dropped to 103.2 in October from 104.7 in September. Economists predicted a decline to …
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German Business Confidence Drops for Sixth Month
The annual growth rate of the broad mone tary aggregate M3 increased to 2.5% in September 2014, from 2.1% in August 2014 . 1 The three – month average of the annual growth rates of M3 in the period from July 2014 to September 2014 increased to 2.1%, from 1.8% in the period from J…
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Monetary Developments in the Euro Area : September 2014
Global growth is sputtering again. Most Americans remain pessimistic five years after the end of the Great Recession. And the deadly Ebola virus is adding fresh uncertainty. Yet the U.S. economy continues to chug along and it could soon register its longest and strongest period of expansion in ni…
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US economy on track for best growth in nine years
BREAKING
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DIHK cuts German 2014 growth forecast to 1.3% from 2%
KABUL, Afghanistan (AP) — The new Afghan president travels to China this week, signaling the pivotal role he hopes Beijing will play in Afghanistan's future, not only in the economic reconstruction of the war-ravaged country after U.S. and allied combat troops leave by the end of the year but also in a strategic foreign policy aimed at building peace across a region long riven by mistrust and violence.
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New Afghan president to head to China
The following are the intraday outlooks for EUR/USD, EUR/JPY, USD/JPY, and SP500 as provided by the technical strategy team at SEB Group. EUR/USD: Still in a corrective mode. With both of the short term correction patterns (hourly triangle or flag) proven obsolete by the 1.2693 violation our fo…
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Intraday Outlooks For EUR/USD, EUR/JPY, USD/JPY, SP500 – SEB
sees a calm opening on European market after test results; Speaking on BBG tv and also had this to say at the week-end; I fancy opening a book on how many times I’ll type “stress tests” today;
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BUBA’s Dombret says its unrealistic to expect an immediate in bank lending after stress tests
Squeezed between cut-throat competition from online financing firms and rising funding costs, China’s midsize banks are falling out of investors’ favor as they increasingly lag behind the country’s top five lenders. While margins generated from lending have remained broadly stable at the larger b…
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Online financing, rising costs squeeze profits at China’s midsize banks
Brazilian markets were all over the place in the final days before yesterday’s vote, soaring one moment and plunging the next. Now that the votes have been counted and President Dilma Rousseff has begun celebrating in Brasilia, here are some tips on how to make money in her second term, courtesy…
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Six Ways to Play Brazilian Markets After Rousseff Victory
No great shocks there. It took them long enough to complete these ones . But they certainly shouldn’t take their foot off the pedal; ECB’s Noyer speaking to Les Echos; level of mobilization needed for the stress tests would be difficult to repeat regularly some banks will want to comm…
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ECB’s Noyer says bank stress tests would be hard to repeat regularly
The European Central Bank has just published the results of new “stress tests” on European Union banks, hoping to convince financial markets that the banking system is now strong enough to weather another crisis. This latest exercise is a big improvement over previous efforts, which were widely…
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Europe’s Banks Are Still a Threat
