Bank lending to private euro zone businesses needs to grow at a 3 percent annual rate on a sustained basis in order to stir inflation, according a Reuters poll of economists who say that is not likely to happen. In the latest monthly survey on European Central Bank policy taken Sept. 22-24, for…
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ECB’s plans to revive bank lending leave economists unconvinced: Reuters poll
Bullish Week: USD/CAD is bullish this week after falling from 1.11 to 1.0886. At the beginning of the week, we saw a break above a falling trendline from the previous week, and price climbed above the 200-, 100-, and 50-hour simple moving averages (SMAs). The 1H RSI tagged 70 then held above 40 and…
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USD/CAD Breaks into a New High on the Month
U.S. crude stocks fell unexpectedly last week, while gasoline stocks decreased and distillate inventories rose, data from the Energy Information Administration showed on Wednesday. Crude inventories fell by 4.3 million barrels in the last week, compared with analysts’ expectations for an increase…
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U.S. crude oil stocks fall; gasoline inventories decrease – EIA
What’s the difference between traders and rats? What’s the difference between traders and rats? Make all the jokes you like, but it turns out the furry four-leggers make better investment decisions than humans do. “They outperform most human traders and represent a much more economic solutio…
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Meet the rats that trade better than humans
China’s long-time Central Bank head Zhou Xiaochuan may be pushed out of office, the WSJ reports. President Xi Jinping is considering replacing him with someone more in agreement with him over economic reforms, according to party officials. Over the last few months there has been a distinct shift …
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Report: China May Push Out Its Central Bank Head
New-home sales in the U.S. surged in August to the highest level in more than six years, a sign that the housing recovery is making progress. Sales of new houses jumped 18 percent to a 504,000 annualized pace, the most since May 2008, the Commerce Department reported today in Washington. The medi…
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Sales of New U.S. Homes Surged in August to Six-Year High
The euro busted through stops on a fall below 1.2800 to a fresh 14-month low at 1.2788. It was a 35-pip move in minutes. A rumored knock-out option at 1.2800 was busted. The leaked French jobseekers report showed fewer people looking for work in August but it hasn’t helped the euro. The …
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Euro breaks 1.28 in fall to fresh 14-month low
As my colleagues Min Zeng and Katy Burne report in today’s Wall Street Journal, rates on short-term U.S. Treasury bills have suddenly gone negative, opening a window onto challenges the Federal Reserve could face in the years ahead keeping short-term rates in a prescribed, quarter-percentage-point…
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Explaining why U.S. rates have suddenly gone negative
The National Bank of Belgium’s business barometer has stabilised during September, at the level of the two previous months. The business climate picked up solely in the manufacturing industry. In the other branches of activity, confidence among entrepreneurs deteriorated. The improvement observe…
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Belgium Business Confidence Levels Out in September
Coal used for electricity purposes is often called steam or thermal coal. Coal used to make steel is called metallurgical (or met) or coking coal. Cloud Peak Energy (CLD) only produces thermal coal. Walter …
According to the U.S. Energy Information Administration (or EIA), for the week ending September 12, 2014, U.S. crude oil imports from Canada hit a record high of 2.99 million barrels per day (or bpd). …
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Why Canadian crude exports to the US are on a high
Since the Scottish sovereignty referendum, it has been difficult to get overly excited about forex, especially with the EUR’s price action confined to a relatively tight trading range. The single units recent moves have been rather telegraphed, influenced mostly by option related deals and a few…
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EUR Strangled By Option Interest
USD/CAD continues to improve after its successful test of its rising channel. A break of the resistance at 1.1099 would favour further gradual strength towards the strong resistance at 1.1279. Hourly supports can be found at 1.0986 (23/09/2014 low) and 1.0927 (22/09/2014 low). In the longer term,…
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USD/CAD – Challenging its recent highs
Brent crude oil fell below $97 on Wednesday morning as ample supply and waning demand continued to weigh. The commodity traded at $96.94 at 8:20 GMT with weak economic data driving prices. Oil prices have …
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Iran Sees Oil Prices Continuing To Slide
Tough new U.S. government rules on corporate “inversion” deals, aimed at making the tax-avoidance transactions less desirable, undermined share prices in nearly a dozen companies on both sides of the Atlantic on Tuesday. Analysts and tax lawyers were studying the damage to deals currently in the…
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New U.S. tax rules chill ‘inversion’ deal-making; shares dive
The Commerce Department reports on sales of new homes in August. The report will be released Wednesday at 10 a.m. Eastern. SALES UP: Economists forecast that sales of new homes rose 4.3 percent last month to a seasonally adjusted annual rate of 430,000, according to a survey by the data firm Fact…
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US new-home sales preview
Chinese banks, property developers and regional governments are intensifying efforts to drag the housing market from its worst slump in two years by allowing people to buy more than one home, slashing prices and launching unorthodox promotions. The property sector, which accounts for about 15 pe…
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China property hard sell intensifies in bid to lift sagging sector
London has overtaken Hong Kong as the world’s most expensive city to live and work in, with a new study suggesting it is almost twice as pricey as Sydney, and four times more than Rio de Janeiro. The estate agent Savills said that in London, rising rents and the strong pound had pushed up the typ…
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London overtakes Hong Kong as world’s most expensive city
The euro is collapsing because the continent is plunging into a depression. The pound went into free fall because the Scots were about to break away from the United Kingdom. The yen is heading down because Abenomics is hitting the rocks, and the country is heading into its third lost decade in a row…
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Five consequences of a stronger dollar
The Ifo Business Climate Index for industry and trade in Germany fell in September to 104.7 points from 106.3 points in the previous month. The index dropped to its lowest level since April 2013. Assessments of the current business situation were once again less favourable than last month….
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Ifo German Business Climate Index Continues to Fall
