With the Reserve Bank of Australia (RBA) meeting looming, a change in interest rates in Australia is not expected by market participants. It is widely expected that the RBA will stay on hold with the interest rate, maintaining the historical low of 2.5% “We expect the RBA to keep the policy cash …
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RBA seen steady on rates; statement crucial
Central bankers are often proud to be boring. Not Mario Draghi. Two years ago, in July 2012, Draghi, the president of the European Central Bank, took everyone by surprise by announcing that he would do “whatever it takes” to save the euro. The effect was dramatic. This August, he used the annual…
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Europe According To Mario Draghi
U.S. investors are back in the hunt for inflation protection for the first time in two years as rising housing costs – particularly for rent – suggest inflation may finally be waking from its post-recession slumber. That’s helping to drive cash into specialty funds that focus on Treasury Inflati…
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U.S. inflation bonds back in vogue
The United States and Canada celebrate Labor Day today. Its origins are a few years earlier than the May 1 international labor holiday, which is also of American origin. May Day arose out of the ashes of the 1886 Haymarket Square affair in Chicago. The roots of the September Labor Day can be tra…
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Labor Day Special
I have always thought that the soft landing/hard landing debate wholly misses the point when it comes to China’s economic prospects. It confuses the kinds of market-based adjustments we are likely to see in the US or Europe with the much more controlled process we see in China. Instead of a hard…
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What does a “good” Chinese adjustment look like?
In 2006, executives from the public relations firm Ketchum flew to Moscow to secure an account that has since been worth tens of millions of dollars. President Vladimir Putin of Russia had hired Ketchum to provide advice on public relations before the nation hosted the Group of 8 meeting in St….
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PR firm for Putin’s Russia now walking a fine line
Ukrainian President Petro Poroshenko accused Russia on Monday of “direct and open aggression” which he said had radically changed the battlefield balance as Kiev’s forces suffer major reverses in the war with pro-Moscow separatists. Ukraine’s military said its forces had been ordered to pull back…
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Ukraine accuses Russia of "open aggression" as rebels advance
Investors appear to be cautious as we begin a trading day that has a range of driving factors. Firstly, investors must ascertain the potential impact of further sanctions on Russia. Then, add into the mix the next batch of data which will show how the economic malaise in the Eurozone is developing….
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Cable building for a rally as the sterling bulls finally get a foothold
The U.S. economy is motoring ahead of the rest of the world and generating the best job growth in years, but the ride is still not free of bumps. The latest jolt came from a report last week that showed consumer spending fell in July for the first time in six months. Soft spending has been a hall…
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U.S. economy still hitting speed bumps
BREAKING
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Germany spokesman Seibert confirms Merkel talked to Draghi
A U.K. manufacturing index fell to the lowest in more than a year in August as geopolitical risks combined with weak euro-area demand to curb growth. Markit Economics said its factory gauge dropped to 52.5, the lowest since June 2013, from 54.8 the previous month. The July reading was revised lo…
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U.K. Factory Index Drops to 14-Month Low on Global Risks
A U.K. manufacturing index fell to the lowest in more than a year in August as geopolitical risks combined with weak euro-area demand to curb growth. Markit Economics said its factory gauge dropped to 52.5, the lowest since June 2013, from 54.8 the previous month. The July reading was revised lo…
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U.K. Factory Index Drops to 14-Month Low on Global Risks
UK broad money, M4 excluding intermediate other financial corporations (OFCs), increased by £4.4 billion in July, compared to the average monthly increase of £5.6 billion over the previous six months. The three-month annualised and twelve-month growth rates were both 3.8%. M4Lx is defined as M4 l…
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UK Money and Credit: July 2014
The upturn in the UK manufacturing slowed further in August. The seasonally adjusted Markit/CIPS Purchasing Manager’s Index® (PMI®) posted 52.5, down from 54.8 in July, to record its lowest reading since June last year. Manufacturing output and new orders expanded again in August, taking the r…
The upturn in the UK manufacturing slowed further in August. The seasonally adjusted Markit/CIPS Purchasing Manager’s Index® (PMI®) posted 52.5, down from 54.8 in July, to record its lowest reading since June last year. Manufacturing output and new orders expanded again in August, taking the r…
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UK Manufacturing PMI at 14-month low
Euro zone manufacturing growth slowed slightly more than initially thought last month as new orders dwindled and factories suffered amid rising tensions in Ukraine, a business survey showed on Monday. Factories barely increased prices last month, and manufacturing activity in France fell at the f…
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Euro zone factory growth slows in August amid Ukraine tension
Euro zone manufacturing growth slowed slightly more than initially thought last month as new orders dwindled and factories suffered amid rising tensions in Ukraine, a business survey showed on Monday. Factories barely increased prices last month, and manufacturing activity in France fell at the f…
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Euro zone factory growth slows in August amid Ukraine tension
The rate of expansion in eurozone manufacturing production eased to its lowest during the current 14-month growth sequence in August, as companies faced slower increases in both total new orders and new export business. The final seasonally adjusted Markit Eurozone Manufacturing PMI® posted 50…
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Eurozone Manufacturing PMI at 13-month low in August
The rate of expansion in eurozone manufacturing production eased to its lowest during the current 14-month growth sequence in August, as companies faced slower increases in both total new orders and new export business. The final seasonally adjusted Markit Eurozone Manufacturing PMI® posted 50…
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Eurozone Manufacturing PMI at 13-month low in August
French Prime Minister Manuel Valls reiterated on Sunday calls for the European Central Bank to go “further” in tackling the problem of an overvalued euro. Speaking at a Socialist party gathering in La Rochelle, Valls said the ECB’s June decision to cut interest rates was a “strong signal” but m…
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French PM says ECB must do more to tackle overvalued euro
