You might be aware of the timer above the door of Lietuvos bankas, Lithuania’s central bank, which is counting down to the euro changeover – less than 100 days remain until Lithuania adopts the euro. Lietuvos bankas installed the countdown clock two months ago, when the Council of the European…
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Draghi: Keynote speech at the Euro Conference
The euro’s drop to its lowest against the U.S. dollar in over a year may be just the beginning, with some analysts expecting the common currency to fall to levels not seen since 2003. “The euro is vulnerable to a serious hit,” analysts at Barclays said in a note Wednesday. “We now expect a large,…
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How low can the euro go?
BREAKING
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Euro hits 22-month low versus dollar of $1.2737
BUSINESSES MUST increase productivity, investment and exports to ensure a lasting economic recovery, according to the new deputy governor of the Bank of England. In her first interview since taking on the role, Minouche Shafik discussed the risks to the rebounding UK economy, the need for more g…
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Bank of England ‘won’t risk recovery’, says Minouche
Thursday is a moderately busy day for economic reports, including the main event for Eurozone releases: the monthly money supply figures from the European Central Bank. Later, a pair of US releases will be closely analysed for guidance on the macro outlook: new orders for durable goods and weekly…
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3 Numbers: EU money supply key to QE plans, US goods, US jobs
Quote from a Yorkshire Post newspaper interview published today but no shift in stance; Nemat “Minouche” Shafik is the recently appointed dep gov for markets and banking and former deputy managing director of the International Monetary Fund; GBPUSD a tad higher at 1.6328 EURGBP on session low…
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BOE’s Shafik says they may have to move quicker on interest rates if wage increases not accompanied by productivity increases
China uncovered almost $10 billion in fraudulent trade nationwide as part of an investigation begun in April last year, including many irregularities in the port of Qingdao, a foreign exchange official said today. Companies “faked, forged and illegally re-used” documents for exports and imports,…
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China Foreign Exchange Watchdog Finds $10 Billion in Fake Trade
The years of double-digit economic growth are over in China, say government officials who are starting to use a phrase familiar to Americans and Europeans: “the new normal.” For China, the change means the economy may grow at less than the annual GDP growth target – 7.5% for 2014-for the first ti…
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China Getting Used to the ‘New Normal’ of Slower Growth
RBA Stevens: One area of concern is investor housing finance growth. Open to using macroprudential tools – and that’s the kind of thing we have in mind right now. Says sceptical about macroprudential tools as a panacea. – Finally getting some comments from RBA governor Stevens The RBA referred…
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RBA Stevens: One area of concern is investor housing finance growth
– EUR/USD is on the backfoot as it dipped towards current Asian low at 1.2765 after having opened at 1.2780; the pair is vulnerable to a further move lower as there are no sights that bears are exhausted. Draghi runs the show Draghi’s comments from his interview to Lithuanian paper made a spla…
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EUR/USD heading towards 2013 lows at 1.2745 on Draghi’s comments
AUD/USD is testing support levels around 0.8821-48 which do not appear strong enough to limit the downtrend, notes CitiFX Technicals. “Beyond this range of supports, the January low is likely to be tested at 0.8660 which was the level from where we rallied to hold and turn from the 76.4% retrac…
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Blizzard Of Oz: AUD Technical Settings Across The Board – Citi
Says he expects “modest growth” in euro zone in second half ECB remains fully determined to counter risks to medium-term inflation outlook ECB ready to use additional unconventional instruments within mandate, alter size or composition of unconventional interventions if necessary Sys “unacceptabl…
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ECB Draghi comments on the wires – ready to use additional measures
Japan Prime Minister Shinzo Abe is running out of policy options to extend a rally that sent stocks to a six-year high, according to Goldman Sachs Group Inc. Investors have largely factored in more share-buying by the nation’s $1.2 trillion Government Pension Investment Fund and further fiscal an…
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Goldman Sees Japan Stocks Dropping as Abe Runs Out of Tools
The Reserve Bank considers the level of the exchange rate is unjustified and unsustainable, and that it is susceptible to a significant downward adjustment, Governor Graeme Wheeler said in a statement today. Mr Wheeler said the Bank would welcome a move towards a more sustainable exchange rate le…
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Why the NZ exchange rate is unjustified and unsustainable
New-home sales in August reached the highest annualized pace since 2008. But many builders and economists still expect sales for this year to underwhelm, ultimately either matching or only slightly exceeding last year’s level. The reason lies in the difference between the volatility of monthly ho…
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Not So August: Builders, Economists Still See Mediocre New-Home Sales in 2014
In the markets, you never get hit by the bus you can see. There is always a miscalculation or unintended consequence that challenges the status quo. So as the Federal Reserve contemplates its exit from economic stimulus, investors should ask: What is the bus that the Fed cannot see? Your answer to…
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Will the Fed’s exit be fast and furious?
In the markets, you never get hit by the bus you can see. There is always a miscalculation or unintended consequence that challenges the status quo. So as the Federal Reserve contemplates its exit from economic stimulus, investors should ask: What is the bus that the Fed cannot see? Your answer to…
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Will the Fed’s exit be fast and furious?
Asian stocks rose early on Thursday, cheered by a sizeable overnight rebound on Wall Street, while the dollar resumed its advance after upbeat economic data undercut safe-haven bids and pushed yields higher. MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS gained 0.1 perce…
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Asia cheered by Wall St. rebound, dollar resumes advance
Asian stocks rose early on Thursday, cheered by a sizeable overnight rebound on Wall Street, while the dollar resumed its advance after upbeat economic data undercut safe-haven bids and pushed yields higher. MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS gained 0.1 perce…
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Asia cheered by Wall St. rebound, dollar resumes advance
USA! USA! USA! As data for China, Australia and Europe points to weaker growth the US dollar is rising once more as the data highlights the increasing divergence between its outlook and the rest of the world, especially europe. Indeed the big dollar swept the Euro lower after the data from the…
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US dollar crushing Euro as commodity bloc improves
