EUR/USD continued deteriorating and broke down to the lowest levels since November 2012. Is it getting close to the bottom or can we expect more falls? The keys are in the hand of Mario Draghi. Apart from the ECB meeting, we have inflation numbers as well as PMIs and other events . Here is an…
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EUR/USD Forecast Sep. 29 – Oct. 3
EUR/USD continued deteriorating and broke down to the lowest levels since November 2012. Is it getting close to the bottom or can we expect more falls? The keys are in the hand of Mario Draghi. Apart from the ECB meeting, we have inflation numbers as well as PMIs and other events . Here is an…
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EUR/USD Forecast Sep. 29 – Oct. 3
The dollar is staging an advance of a duration and magnitude that has not been seen for several years. The pace has taken many unaware, even though dollar bulls have been repeatedly frustrated. For several quarters, investors, analysts and reporters struggled to explain why the euro in particular…
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Near-Term Dollar Outlook
In a dramatic stroke of luck for the Kremlin, this morning there is hardly a person in the world who is happier than Russian president Vladimir Putin because overnight state-run run OAO Rosneft announced it has discovered what may be a treasure trove of black oil, one which could boost Russia’s…
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Russia Discovers Massive Arctic Oil Field Which May Be Larger Than Gulf Of Mexico
The August Personal Consumption Expenditures (PCE) index likely fell 0.1% on the month, pushing down YoY growth to 1.4%. Core (excluding food and energy) PCE likely was flat and softened to a 1.4% YoY growth rate. PCE growth likely declined in line with the 0.2% fall in August top-line CPI. We…
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US Week Ahead: NFP, ISM, Trade Balance, PCE Deflator, Factory Orders, Cons Conf, Housing
The US dollar had another superb week, crushing its peers. A rate decision in the euro-zone, US Consumer confidence, ISM Manufacturing PMI and of course the all-important NFP report are among the top tier events that await us as we enter a new quarter. These are the major events on Forex calendar….
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Forex Weekly Outlook Sep 29-Oct 3
The ECB’s Governing Council will hold its monthly meeting in Naples on Thursday, against a macro-financial backdrop that remains highly challenging despite its best efforts in recent months. We forecast headline HICP inflation to reach a new cycle low (and trough) of 0.3% YoY in September with both…
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Europe Week Ahead: ECB, EZ Inflation Data, EZ PMIs, UK PMIs
The first week of the month means one thing, and that is the return of fundamental risk driven by notable data and central bank releases. In the US, we are expecting to see the week dominated by employment data, starting with the ADP figure, culminating in Fridays unemployment rate and non-farm…
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Weekly market preview – 29 September 2014
The main issue impacting Appalachian producers is competition from other basins. Since Appalachian coal is buried deeper inside the Earth’s surface than coal found elsewhere in the U.S., it’s also more …
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Must-know: Appalachian coal producers’ challenges
Succinct Summations week ending September 26th Positives: 1. New home sales came in at 504k vs expectations of 430k which was the biggest beat relative to expectations since May 2010. 2. Core durable goods rose by 0.7%, the plunge in headline orders was not unexpected. 3. China’s…
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Succinct Summation of Week’s Events 9.26.14
The dollar posted an 11th straight week of gains against a basket of major currencies on Friday, extending the longest winning streak since its 1971 free float under President Richard Nixon. The dollar index got extra lift from upwardly revised U.S. gross domestic product data, adding 0.5 percent…
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U.S. growth drives dollar to 11th winning week
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Traders in Financial Futures – Options and Futures Combined Positions as of September 23, 2014
This week’s extraordinary stock market volatility is just a harbinger of things to come. The Dow Jones Industrial Average’s DJIA, +0.38% daily change each day this week, for example, has been in the triple digits. The CBOE’s Volatility Index VIX, -0.83% closed Thursday more than 30% higher than…
Never mind that Europe’s leaders haven’t done nearly enough to ensure the viability of the euro. Judging from the flows of money across the region’s borders, people are regaining faith that the currency union will hold together. Back in the darkest days of the European financial crisis, hundreds …
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Europe’s Rebalancing Act
A federal judge said former U.S. Treasury Secretary Timothy Geithner must give Standard & Poor’s documents he used when writing his best-selling memoir, a ruling that could help S&P defend against the government’s $5 billion fraud lawsuit over its credit ratings. In a ruling made public on Thursd…
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S&P wins right to Geithner documents in $5 bln U.S. fraud lawsuit
September has a well-deserved reputation for causing the market trouble, and the week after September options expiration is statistically the worst week of the year (per Rob Hanna of www.quantifiableedges.com). This year, the stock market has been procrastinating about getting that seasonal…
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September Seasonality Finally Shows Up
Coal producers across the region are having a hard time. However, there’s one exception—Consol Energy (CNX). Consol Energy has a presence in coal and natural gas production. Even in coal, it produces both …
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Why Consol Energy is better off than other US coal producers
“If the facts don’t fit the theory, change the theory,” goes the old adage. But too often it is easier to keep the theory and change the facts – or so German Chancellor Angela Merkel and other pro-austerity European leaders appear to believe. Though facts keep staring them in the face, they continue…
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Europe’s Austerity Zombies
It’s a mountain of money the size of Mexico’s economy. It could buy Apple, Exxon Mobil and Toyota and still have change. Japan’s Government Pension Investment Fund is the world’s biggest state investor — trumping all managed government retirement and sovereign wealth funds — and the way it spends…
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Japan’s Pension War
Barely a year removed from the devastation of the 2008 financial crisis, the president of the Federal Reserve Bank of New York faced a crossroads. Congress had set its sights on reform. The biggest banks in the nation had shown that their failure could threaten the entire financial system. Lawmakers…
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Inside the New York Fed: Secret Recordings and a Culture Clash
