A Russian aid convoy held up on the Ukrainian border for days is on the move after “intolerable” delays, Russia’s foreign ministry says. It accused Ukraine of holding up the convoy in order to pursue war against pro-Russian separatist rebels in the Luhansk region across the border. “Our huma…
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Russia pushes ahead with aid convoy to Ukraine
Fraudsters are targeting JPMorgan Chase & Co customers in an email “phishing” campaign that is unusual because it attempts to collect credentials for that bank and also infect PCs with a virus that steals passwords from other institutions. The campaign, dubbed “Smash and Grab,” was launched on Tu…
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JPMorgan customers targeted in email phishing campaign
Chinese investors looking for a better return than what they’re getting on bank deposits have boosted structured product offerings in the nation to the most in more than 18 months. The number of structured offerings, which in China are sold under the banner of wealth- and asset-management produc…
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Poorly Paid Chinese Savers Skirt Deposits for Structured Notes
But what the hawks and doves still disagree on, however, is how much labor is improving and how central bank policy should respond. That was apparent in comments Thursday from two Fed presidents, both appearing on CNBC from the Kansas City Fed’s annual symposium in Jackson Hole, Wyoming. Comme…
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Fed hawks and doves start to sound alike
The following are the intraday outlooks for USD Index, EUR/USD, AUD/NZD, USD/CAD, and spot Gold as provided by the technical strategy team at SEB Group. USD INDEX: Overly stretched. Even though the longer term trend without question is positive there are several short term warning signs of an “…
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Intraday Outlooks For DXY, EUR/USD, AUD/NZD, USD/CAD, Gold – SEB
Price action is the study of past price movements in an effort to trade the future. While this definition could be applied to the entirety of technical analysis, it has a special meaning with the topic of price action because price action investigates price, and price alone. One of the most i…
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Trading the Doubles
While today’s economic data calendar is near empty, we are still likely to be in for a busy day. US stock markets achieved fresh new highs yesterday as the hunt for yield intensified ahead of what is expected to be a dovish message from the world’s central bankers during US-market hours. The ann…
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3 Numbers: Jackson Hole returns to its roots, Fed chair, ECB’s Draghi
With less than a month to go until Scotland votes on independence, nationalists are seeking to broaden the debate away from a difficult focus on what currency would be used after breaking from the United Kingdom. Health care and other social issues such as justice and equality are likely to get a…
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Scottish nationalists seek to broaden independence debate beyond currency
LCH.Clearnet, Europe’s largest clearing house has announced that Marcus Robinson has been appointed Head of SwapClear Australia. He has relocated to Sydney. In his new role Marcus will lead LCH.Clearnet’s next phase of expansion in Australia. He will work with local market participants to enhance…
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LCH.Clearnet expands presence in Australia
When discussing whether the renminbi may eventually supplant the U.S. dollar as the dominant reserve currency, it’s useful to keep in mind that we don’t know how much Chinese currency the world’s central banks already hold. That’s because the International Monetary Fund, the only source of data on…
China’s economy is looking shaky again, with a widely watched indicator of manufacturing activity the latest to turn southward, prompting some experts to call for more government stimulus measures. The country should meet its economic growth target this year, but a downturn in home prices coupled…
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Biggest Risk for China Could Be Failure to Change, Economists Say
Ahead of Yellen’s Jackson Hole speech tomorrow, the sell-side, hypnotized by 6 years of Fed bubble-inflating generosity, refuses to even consider the possibility that the Fed could possibly pull the punch bowl away, and the absolutely unanimous consensus is that despite yesterday’s minutes (or…
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Previewing Yellen’s Jackson Hole "Gobbledygook": Not One Analyst Thinks Yellen Will Say Anything Remotely Hawkish
Gold traded near a two-month low on speculation that U.S. interest rates are set to increase as investors awaited remarks from Federal Reserve Chair Janet Yellen at a meeting of central bankers. Silver headed for a sixth week of losses in the longest slump in more than a year. Gold for immediate …
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Gold Near 2-Month Low Before Yellen, Set for Second Weekly Drop
Federal Reserve Bank of Philadelphia President Charles Plosser said on Thursday that the U.S. central bank’s expectation of maintaining its near-zero-percent interest rate stance well into the future is “risky policy.” Speaking in a CNBC interview, Mr. Plosser, a persistent critic of Fed actions,…
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Fed’s Plosser Warns Very-Easy Money Policy Increasingly Risky
Over the summer Morgan Stanley, Goldman Sachs, JPMorgan, and Bank of America have announced that they will be giving junior bankers (think analysts and associates under 30) a pay raise of about 20% to 25%. According to The Wall Street Journal, Citigroup is considering the move, too. There are …
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There Are 2 Simple Reasons Why Young Wall Streeters Are Getting Big Raises
After threatening to break through the support level at 0.93 for the last couple of days, the Australian dollar finally slid lower to below this level and moved towards the previous key level at 0.9220. In the last 12 hours or so however, it has rallied well to return to the 0.93 level where it is…
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AUD/USD – Rallies and Clings onto Key 0.93 Level
Asian shares rose in early trading on Friday, after upbeat U.S. data sparked another record close on Wall Street. U.S. home resales rose to a 10-month high in July, factory activity in the mid-Atlantic region hit its highest level since March 2011 in August, and a gauge of future economic activit…
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Asian shares hitch a ride on Wall Street’s record
I have the theme to the Lego Movie running through my head this morning, Everything is awesome, or that seems to be the way that traders in stock markets want to play it given the S&P 500 made a fresh all-time high in overnight trade – its 28th for the year apparently. Likewise Aussie dollar tra…
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We learnt just how much traders love the Aussie dollar and stocks overnight
The use of the term “sovereign risk” by Trade Minister Andrew Robb to describe the federal budget stalling in the senate shows just how fast and loosely the term has come to be used. But to whom is the risk? Who would bear the cost of the downside? What caused the risk? How big is the risk in the…
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What is and isn’t a ‘sovereign risk’
China is working to improve relations with nearby countries before November’s meeting of the Asia-Pacific Economic Cooperation forum, particularly Mongolia, which it views as key to northeastern Asia. President Xi Jinping met with Mongolian President Tsakhiagiin Elbegdorj here Thursday, mark…
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China mending fences with neighbors ahead of APEC meeting
