The US dollar is at the top of the mountain once again. Other currencies trying to climb back up after falling over the past week can’t even get a toe-hold. AUD/USD has spilled down to 0.9246 from 0.9287 since New York traders rolled in. A strong layer of bids to 0.9250 gave way and there’s a rise…
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Fresh lows in AUD/USD as pair closes in on stops
The mighty dollar is basking in glory right across the boards, egged on by investors speculating that the Fed would strike a “less” dovish tone in its next policy statement on September 17. Also aiding the buck cause is the uptick to risk-aversion trading sparked by uncertainty over Scotland’s…
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Fed, ECB and Scotland Make FX Interesting
The trend measure of housing starts in Canada was 189,837 units in August compared to 189,596 in July, according to Canada Mortgage and Housing Corporation (CMHC). The trend is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR)1 of housing starts. “The currently ele…
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August 2014 Housing Starts in Canada
Regardless of whether a new iPhone will be a game-changer for Apple Inc., the device has the potential to juice the second-largest economy on Earth, or so say economists at Bank of America-Merrill Lynch. Sure, Chinese consumers are increasingly turning away from the iPhone, according to recent da…
An opinion poll showing Scottish independence campaigners have a slim lead nine days before a crucial referendum has highlighted reasons for the wider world and investors to pay heed to the Sept. 18 vote, which could see Britain lose 5.3 million Scots. Foreign governments and financial markets …
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Why the world should care about Scottish independence
August’s Optimism Index rose 0.4 points to 96.1 making it the second highest reading since October, 2007. The four “hard” measures (job creation plans, job openings, capital spending plans and inventory investment plans) were collectively unchanged, and the other 6 components added to the Index a…
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US NFIB SBET Sees Slight Bump in August
In a surprise move, announced on Monday, Japanese retail Forex broker MONEX stated that it is halting its MetaTrader 4 service. All MONEX MetaTrader 4 accounts will be closed before October 31, 2014 and the service will stop existing as of this date. The broker cites “restructuring moves in subco…
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Japan’s MONEX stops supporting MetaTrader 4 platform
It is fairly straightforward. There are two drivers of the dollar’s strength. First are the supportive developments in the US. This is the growing confidence that the Fed’s employment and price mandates are being approached, without unduly jeopardizing a third mandate of financial stability. …
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Dollar Positive Consolidation
Bank of England Governor Mark Carney said officials may increase their benchmark rate from a record low in spring next year as wage gains accelerate and the recovery gains momentum. “If interest rates were to follow the path expected by markets — that is, beginning to increase by the spring and…
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Carney Says U.K. Rate to Rise by Spring 2015 as Wages Recover
It is a pleasure to be in Liverpool today to discuss the prospects for the UK labour market. The growth and distribution of jobs and incomes matter to everyone. Employment does much more than provide the means to support workers and their families; it is essential to personal fulfilment and human…
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Mark Carney’s speech at the Trade Union Congress, Liverpool
The European Union adopted new sanctions against Russia over its involvement in the Ukraine war on Monday, but delayed enforcing them to leave time to assess whether a ceasefire in Ukraine is holding. The sanctions, which target the ability of Russia’s top oil producers to raise capital in Europ…
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EU delays enforcing new Russia sanctions
Over the summer months the equity markets were getting all the headlines, but since the beginning of September, the forex markets have just taken off in a huge way and now dominate. The euro has been hit by further ECB easing measures, and now significant uncertainty over the potential for Scottish…
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No respite for EUR/USD and GBP/USD as the Dollar remains strong
The rival campaigns in Scotland’s fight over independence are running neck-and-neck nine days before the referendum, with a surge in support for those who wish to break away from the United Kingdom, a TNS poll showed on Tuesday. The number of people saying they would vote “No” to independence ha…
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Poll shows Scottish independence vote too close to call as London offers more powers
U.K. industrial production rose more than economists forecast in July, indicating momentum in the recovery was sustained into the start of the third quarter. Output increased 0.5 percent from June, the most in five months, the Office for National Statistics said in London today. The median forec…
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U.K. Industrial Output Exceeds Forecast With 0.5% Increase
•UK Trade shows the extent of import and export activity and is a key contributor to the overall economic growth of the UK. •Seasonally adjusted, the UK’s deficit on trade in goods and services was estimated to have been £3.3 billion in July 2014, compared with £2.5 billion in June 2014. •In July …
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UK Trade, July 2014
•Production output is estimated to have increased by 1.7% between July 2013 and July 2014. This reflects increases of 2.2% in manufacturing (the largest component of production); and 3.4% in electricity, gas, steam & air conditioning output. …
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UK Index of Production, July 2014
BREAKING
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Schaeuble says German economic climate has clouded over
Single Americans make up more than half of the adult population for the first time since the government began compiling such statistics in 1976. Some 124.6 million Americans were single in August, 50.2 percent of those who were 16 years or older, according to data used by the Bureau of Labor Sta…
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Single Americans Now Comprise More Than Half the U.S. Population
France’s central government deficit widened to E84.1 billion at the end of July from E80.8 billion a year earlier, the Finance Ministry said Tuesday. General budget revenues were E170.1 billion, down 3.6% from a year earlier, while government spending amounted to E233.5 billion, down 0.8%. The…
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France End-July Govt Deficit E84.1 Bln Vs E80.8 BLn Year Ago
ASIC has cancelled the Australian Financial Services (AFS) licence of Global Derivative Services Pty Ltd (GDS) after an investigation found it failed to comply with a number of its AFS licence obligations. According to its website, GDS holds itself out as a leader in the field of forex, binary op…
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ASIC cancels FX company’s AFS licence
