The euro zone’s struggle to avoid another recession will take center stage in the coming week in the absence of major U.S. data, as investors mull whether the ECB’s new asset-buying plan is a prelude to even more radical steps. While data from China may give clarity on a pattern of uneven growth …
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Searching for growth in Europe, clarity in China
The total manufacturing sales volume fell in the June 2014 quarter, with mixed results across industries, Statistics New Zealand said today. After adjusting for seasonal effects, the volume of total manufacturing sales fell by 0.7 percent. This was led by a 1.4 percent fall in meat and dairy prod…
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NZ Economic Survey of Manufacturing: June 2014 quarter
America’s wholesale acceptance of Bitcoin has made its way across the Atlantic as British Chancellor of the Exchequer George Osborne prepares to include it in the 2015 Budget. In total contrast to last year’s chain of events surrounding Bitcoin which would cause even the most risk-hungry investor to…
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First America, now Britain! Chancellor to unveil Bitcoin plans in UK budget
As the S&P 500 continues to move higher into uncharted territory, strategists are suggesting a less broad-based approach when it comes to stocks — some as a cautionary measure, others out of a sense that returns are growing stale. Even though the S&P 500 closed at a record high Friday, gains acro…
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Stock-picking gains traction as volatility looms
Eurogroup President Jeroen Dijsselbloem said Saturday that the European Central Bank’s policy has been stretched very, far putting the onus on national authorities to implement reforms that will spur growth. Speaking to journalists on the sidelines of the European House Ambrosetti Forum, in Cerno…
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Eurogoup Dijsselbloem:ECB MonPol Has Been ‘Stretched Very Far’
The European Central Bank should be ready to take further measures to guarantee monetary stability if needed, Ignazio Visco, the governor of the Bank of Italy and a member of the ECB Governing Council said in a newspaper interview on Sunday. “As the launch of a new program of covered bond purchas…
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ECB’s Visco says must be ready to do more for price stability: paper
Sterling is likely to continue its dramatic descent amid news that the Unionists have lost further ground to the ‘Yes’ Campaign. In a YouGov poll released on Sunday, support for a Scottish exit jumped into the lead for the first time, with 51pc of voters backing Alex Salmond’s campaign. This overt…
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Sterling set to tumble as shock poll puts ‘Yes’ vote in the lead
A woman died and at least four people were wounded when fighting flared again in eastern Ukraine overnight into Sunday, jeopardizing a ceasefire struck less than two days earlier between Ukrainian government forces and pro-Russian separatists. The accord, brokered by envoys from Ukraine, the sepa…
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Ceasefire in east Ukraine frays, woman killed by shelling
Sterling markets are stirring on the risk of the U.K.’s 307-year-old union splintering, and that spells danger for the pound. Britain’s currency is likely to weaken when markets resume trading after the weekend, strategists said following a poll that showed the Scottish independence campaign gai…
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Pound in Peril as Opinion Poll Puts Scottish Separatists Ahead
The present is a fleeting moment between the past and the future. The economic news stream in the week ahead is light. This will allow investors to contemplate last week’s ECB announcements and adjust positions ahead of the critical events of the following week. These include the FOMC meeting, the…
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The Week Ahead: Calm before the Storm
EUR/USD had a dramatic week, falling once again and losing the 1.30 line as the ECB surprised with strong measures. Will we see more falls or can a correction be expected now? Trade balance figures, and industrial output numbers are among the indicators released this week. Here is an outlook on the…
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EUR/USD Forecast Sep. 8-12
Did the EURUSD’s surprise new stimulus, likely the last for 2014, signal an end to bad news for the EUR? FX Traders’ weekly EURUSD fundamental & technical picture Summary 1.Technical Outlook: Near term neutral, longer term bearish 2.Fundamental Outlook Part 1: Top Market Movers, Related Lessons …
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The Sensible Guide To Forex
Precious metals, much like other commodities, kicked off last week with a plunge in prices. As the week progressed, bullion prices remained relatively flat even after the ECB surprised the markets with a rate slash and promise of an ABS program. Moreover, the latest NF payroll report fell short of…
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Gold and Silver Outlook for September 8-12
Good morning. Thank you for the opportunity to speak at this 137th annual convention of the Pennsylvania Association of Community Bankers. Community banks have a long and venerable history in our nation, and the 137 years of the PACB is a powerful testament to your roots as stalwarts in our…
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Plosser: The Economic Outlook
You go to a casino and meander over to the roulette table. It shows eight reds in a row. What do you do, knowing full well that each spin is an independent event, but also cognizant that probability argues against very long streaks too? Do you bet “red” that the streak continues to an even less…
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Dollar Bulls in the Driver Seat, but Consolidation Looms
We expect a solid 0.7% rise in August retail sales following a flat reading in July. Ex-auto sales likely rose a modest 0.2%. Retail sales likely picked up in August as motor vehicle sales accelerated to a 17.5 million-unit pace from 16.5 million in July. Partly offsetting this rise was a likely…
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US Week Ahead: Retail Sales, UMich Svy, Business Inventories
The Federal Reserve’s prolonged policy of low interest rates and asset buys has helped to ease financial conditions but also creates the risk of market bubbles that should keep policy makers on their toes, a new paper from two prominent Fed staffers says. Following the global financial crisis, ce…
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Fed Must Remain Vigilant For Financial Stability Risks: Paper
Germany, Spain and Italy are releasing their final August inflation numbers next week. We expect preliminary figures to be confirmed at +0.8%, -0.5% and -0.2% YoY, respectively, in terms of the harmonised measure. We see French August HICP inflation at 0.5% YoY (0.6% YoY in July), with the slight…
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Europe Week Ahead: EZ Final Inflation Prints, -IP, French IP, UK IP
The US dollar had another strong week in currency markets, bowing only to the Aussie, as the euro and the pound were hit hard. Can we expect a correction or continuation now? US retail sales and consumer sentiment, Australian employment data and a rate decision in New Zealand are among the major…
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Forex Weekly Outlook September 8-12
Federal Reserve officials shouldn’t be in a hurry to unwind monetary stimulus because elevated slack in the U.S. job market is keeping inflation below the Fed’s target, said Boston Fed President Eric Rosengren. “Significant excess capacity remains in labor markets,” Rosengren said today in a spee…
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Rosengren Says Fed Shouldn’t Be in a Hurry to Raise Rates
