As central bankers gather for their annual meeting in Jackson Hole, Wyoming, they’re facing a question that could radically change how they do their jobs: Has the developed world entered a sort of economic doldrums, in which stimulus efforts are more likely to lead to financial disaster than to…
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Larry Summers Is On to Something
There is Draghi to come later today (2:30 PM ET). London and European traders are supposed to head home and may square up. So there may be some up and down action. However, the last correction higher off the 1.3219 low has stayed below the 1.3247 level which is the 38.2% of the move up from the July…
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EURUSD correction stays below 1.3247
European stocks declined, paring a weekly gain, after Federal Reserve Chair Janet Yellen underscored the persistence of labor-market slack in the U.S. economy and as investors watched rising tensions in Ukraine. Piraeus Bank SA and Banca Monte dei Paschi di Siena SpA gained at least 3 percent as …
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European Stocks Drop as Investors Weigh Yellen, Ukraine
•Instead of de-escalating situation, Russia continues to escalate it •This can only lead to Russia’s further isolation It’s also being reported by LiveSquawk that Putin had a conversation with Merkel and said that the aid convoy couldn’t wait any longer. Reuters now carrying the headlines; •Putin…
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NATO’s Rasmussen says there is an alarming build up of Russian ground and air forces in the vicinity of Ukraine
In an essay in The Wall Street Journal last month, Harvard University economist Lawrence Summers envisioned a world in which computers and machines displace a vast new array of human work, creating an economy that produced few opportunities and sources of income for actual people. Taxis wouldn’t …
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Autor Paper at Jackson Hole: Automation Is Polarizing the Labor Market
Federal Reserve Chair Janet Yellen said slack remains in the U.S. labor market even after gains made during the five years of economic recovery. “The economy has made considerable progress in recovering from the largest and most sustained loss of employment” since the Great Depression, Yellen sai…
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Yellen Says Fed Sees ‘Significant’ Under-Use of Labor Resources
BREAKINGIn the five years since the end of the Great Recession, the economy has made considerable progress in recovering from the largest and most sustained loss of employment in the United States since the Great Depression.1 More jobs have now been created in the recovery than were lost in the…
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Yellen: Labor Market Dynamics and Monetary Policy
The following are major banks’ expectations for today’s speeches by Fed Chairwoman Janet Yellen and ECB President Mario Draghi at the Jackson Hole Symposium. BNP Paribas: ECB President Draghi’s Jackson Hole speech late this evening (18:30 GMT) could, in our view, be just as important as that of …
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What Will Yellen & Draghi Say At Jackson Hole? Views From 10 Banks
As Europe slogs through its latest round of bank stress tests, a growing number of analysts have already reached their own conclusion: Eurozone banks need additional cash. To buttress their case, some analysts have dusted off an obscure American bank metric that highlights the extent to which Eur…
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Europe Fears Banks Lack Cash Cushion to Cover Bad Loans
The Consumer Price Index (CPI) rose 2.1% in the 12 months to July, following a 2.4% increase in June. Prices increased in all major components in the 12 months to July. Higher prices for shelter and food contributed the most to the rise in the CPI. At the same time, the transportation index led the…
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Canada Consumer Price Index, July2014
Retail sales rose for the sixth consecutive month, up 1.1% to $42.6 billion in June. Gains were reported in 8 of 11 subsectors, representing 71% of retail trade. In the first six months of 2014, retail sales were up 4.7% compared with the same period in 2013. In volume terms, retail sales incr…
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Canada Retail Trade: Jun 2014
Triple #Fed whammy…. Bullard sees rate liftoff Q1 2015, Lockhart mid 2015 and Plosser says Fed should signal earlier rate rise on economy
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Bullard sees rate liftoff Q1 2015, Lockhart mid 2015 and Plosser says Fed should signal earlier rate rise on economy
Bullish Trend vs. Resistance, Double Top: USD/JPY was bullish this week, rallying since last Friday’s 102.13 low to a high of 103.96 after the FOMC meeting minutes. This week’s rally broke above the resistance around 103, and puts USD/JPY right under the resistance around 104 – highs from March and…
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USD/JPY Seeking a Double Top at the March-April Resistance
Protesters, worried that the central bank is about to put its foot on the brakes, have come to the Federal Reserve’s Jackson Hole retreat this year to urge the central bank to hold off and give the economy more time to heal. This is believed to be the first time there ever has been protesters at the…
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A first for Jackson Hole — protesters, and they don’t want rate hikes
It’s no surprise to see Capital Market relatively subdued ahead of the two keynote speakers at Jackson Hole Economic Symposium later today. Fed Chair Ms. Yellen speaks at 10am EST, while ECB’s Draghi – who’s unlikely to be “out” dovished by his colleague – is scheduled to appear at 2:30pm EST. Th…
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Jackson Hole: Hawk-ish vs. Dove – Who Has The Hammer?
Ukraine has claimed 90 trucks from a Russian aid convoy have crossed into the country without permission in a “direct invasion”. It had been agreed the lorries would only be allowed into eastern Ukraine if they were escorted by the International Red Cross. But the charity has pulled out after …
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Russia Trucks Enter Ukraine In ‘Direct Invasion’
Italy’s best hope may again be the bond market’s favorite Italian: Mario Draghi. The nation’s mounting debt, coupled with a shrinking economy, is close to unsustainable, Ashoka Mody, a former deputy director at the International Monetary Fund, said yesterday in a telephone interview from New Del…
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Italy May Need More From Draghi as Debt Load Mounts
After being the top contributor to monthly and yearly CPI growth in June, gasoline prices are expected to weigh on the July readings, which should also be negatively impacted by clothing. Analysts’s forecasts in an MNI survey center on an expectation of a 0.1% total CPI decline in July from June,…
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Canada Preview: Gasoline, Clothing To Drive Jul M/M CPI Dwn
German Bund yields held below 1 percent on Friday, with investors anticipating that central bankers gathering for an annual conference in Jackson Hole, Wyoming, would signal they are in no rush to either tighten or loosen monetary policy. Federal Reserve chief Janet Yellen is likely to reiterate …
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Bunds below 1 pct as central bankers seen stuck in ultra-easy mode
