A relatively quiet week ahead from an economic standpoint following the busiest week of the month just gone. This means for the most part, we will be stuck with continuous geo-political developments as a driver of fundamental trading. Despite this, there are a number of key events to be watching out…
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Weekly market preview – 8 September 2014
It’s over: whether due to the complete domination of centrally-planned markets by a few central banks, whether as a result of HFTs forcing out all human traders and investors, whether due to volatility plunging to record lows and complacency at record highs, whether viewers simply aren’t impressed…
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CNBC Viewership Plunges To 21 Year Lows
For many, the 1970s conjures up colorful memories, from John Travolta tearing up the dance floor in “Saturday Night Fever” to the break-up of the Beatles. For others, however, it brings to mind the threat of runaway inflation. In his speech on Thursday, Narayana Kocherlakota, President of the Min…
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It’s Time For Inflation Scaremongers To Put The 1970s Behind Them
Succinct Summations week ending September 5th Positives: 1. ECB lowers rates gives further clarity in its attempts to encourage a greater level of small and medium sized business lending. He also gets another leg lower in the euro via another cut in short rates and by adding covered bonds to …
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Succinct Summation of Week’s Events 9.5.14
This morning’s U.S. employment report was, at a headline level, disappointing. But, actually, it wasn’t all bad. The report confirms that the U.S. economy, while steadily improving and a lot stronger than Europe’s, has yet to reach the “escape velocity” needed to overcome the risk of stagnation. …
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Jobs Report Has Something for Everyone
The Swiss National Bank said on Friday its vice-chairman Jean-Pierre Danthine – who helped introduce a cap on the value of the Swiss franc – will step down next June after reaching retirement age as well as the end of his term. Danthine was given the task of implementing the minimum exchange rate…
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SNB says vice-chairman Danthine to retire mid-2015
Morgan Stanely analyst Adam Jonas is out with a note about August U.S. new car sales, and he’s concerned. …
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Morgan Stanley: We Could See The ‘Largest Decline In Used Car Prices In History’
FXCM Inc. (NYSE:FXCM), a leading online provider of foreign exchange trading and related services worldwide, today announced that its subsidiary FXCM Holdings LLC, has signed a definitive agreement with IBFX, Inc. and IBFX Australia Pty Ltd to acquire their U.S. and Australian MetaTrader 4 (“MT4”)…
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FXCM to Acquire IBFX MT4 Retail Forex Accounts in the U.S. and Australia
Friday’s mixed jobs report relieves pressure on the Federal Reserve to significantly alter its policy stance at its meeting later this month. When Fed officials said in their July policy statement that they saw “significant underutilization of labor resources” – a signal of continued low interest…
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Jobs Report Leaves Fed in No Hurry To Alter Views on Slack or Rates
The U.S. dollar’s status as the world’s premier reserve currency seems assured for now, despite sporadic efforts to break its stranglehold as well as the rise of would-be competitors. Delegates to the ‘Bretton Woods 2014’ conference, including former central bank heads and finance ministers, main…
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Dollar Still Premier Reserve Currency, For Now
The Ivey Purchasing Managers Index was at 50.9 on a seasonally adjusted basis in August, indicating that purchasing activity in Canada expanded from July. The index, which measures changes in economic activity as indicated by a panel of purchasing managers from across Canada, is sponsored by the …
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Canada Ivey Purchasing Managers Index at 50.9 in August
Ukrainian government forces and the pro-Russan separatist rebels fighting them in eastern Ukraine will observe a cease-fire starting Friday, negotiators from all sides announced at a news conference in Minsk, Belarus. However, the strength of the truce was immediately called into question by cont…
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Cease-Fire Agreement for Eastern Ukraine Is Reached
The US Non-Farm Payroll (NFP) report for August disappointed forecasts. According to the Bureau of Labor Statistics (BLS), there were 142K jobs added to the economy in August. This is the second lowest reading this year next to the 129K print for January. July’s NFP was 212K and economists’…
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NFP Disappoints with a 142K Print; EUR/USD’s Pullback Might be Sold
Canadian employment unexpectedly fell in August including a record drop in private-sector jobs, undermining policy makers’ optimism about the economic recovery. Employment fell by 11,000 and the jobless rate was unchanged at 7.0 percent, Statistics Canada said today in Ottawa. Economists surveye…
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Canada Posts Surprise August Job Decline
– Says ECB may use external company for some ABS purchases, ECB doesn’t have sufficient experience for ABS purchases. – Says lacks capacity to conduct ABS purchases, yet may conduct covered-bond purchases itself. (Die Welt )
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ECB plans to hire banks and others to implement ABS program, according to Die Welt
Employers added the fewest jobs this year in August, representing a pause in the recent momentum of the U.S. labor market as companies assess the prospects for demand. The 142,000 advance in payrolls was weaker than the lowest estimate in a Bloomberg survey and followed a revised 212,000 gain in…
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Payrolls in U.S. Rose 142,000 in August, Smallest Gain This Year
Labour productivity of Canadian businesses rose 1.8% in the second quarter, after edging down 0.1% in the first quarter. In the second quarter, businesses increased their output at a much faster pace than in the previous quarter, while hours worked declined, following a quarter of growth. In the…
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Canada Labour Productivity, Hourly Compensation & Unit Labour Cost, 2nd Quarter 2014
Employment was little changed in August and the unemployment rate remained at 7.0%. Compared with 12 months earlier, employment increased by 81,000 (+0.5%), mostly in part-time work. Over the same period, the total number of hours worked was virtually unchanged. In August, employment fell among …
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Canada Labour Force Survey, August 2014
Total nonfarm payroll employment increased by 142,000 in August, and the unemployment rate was little changed at 6.1 percent, the U.S. Bureau of Labor Statistics reported today. Job gains occurred in professional and business services and in health care. Household Survey Data In August, …
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The US Employment Situation – August 2014
