With the widely-followed EURUSD hitting a new 11-month low under 1.3250 yesterday, it’s not surprising that sentiment is particularly dour toward the single currency. Taken from a broader perspective, however, the euro has actually been outperforming some of its major rivals, including in the EURGBP…
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EURJPY: Have We Seen a Medium-Term Bottom? It Depends on Draghi
Former U.S. Commodity Futures Trading Commission member Bart Chilton, an outspoken critic of some high-speed trading practices while at the agency, has been enlisted in a Washington-based effort to improve the image of an industry beset by regulatory and legislative scrutiny. The Modern Markets I…
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High-Speed Traders Enlist Chilton to Improve Image in Washington
The Tokyo Metropolitan Government will consider using a portion of its 4 trillion yen ($38 billion) in public funds to invest in stocks. The move is part of efforts to turn the capital into a global financial center. But channeling tax money originally collected for public services into equi…
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Tokyo government may start playing the stock market
The British financial markets regulator, the Financial Conduct Authority (FCA), issued a warning to the public recently about additional scammers found to be using the identity of a regulated UK firm to target potential Chinese speaking victims in the UK or to dope traders from China looking for a…
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Another FCA Warning: AMT Markets is a Cloned Chinese Broker
Jim Miekka, creator of the ominous-sounding “Hindenburg Omen”—a technical indicator used to predict stock-market crashes—died earlier this week near his home in Surry, Maine. He was 54 years old. Mr. Miekka, a blind mathematician, was walking on the side of a road Tuesday morning with his guide d…
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Jim Miekka, Creator of ‘Hindenburg Omen,’ Dies in Accident
Italy is now in a triple-dip recession. But it didn’t get there by itself. Yes, the economy’s long slide reflects Italian leaders’ failure to confront the country’s loss of competitiveness; but it is a failure that is widely shared in Europe. …
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Italy’s Downward Spiral
Treasuries snapped a three-day decline as traders speculated Fed Chair Janet Yellen will emphasize weakness in the U.S. labor market in her speech tomorrow at a conference of central bankers. U.S. 10-year note yields rose earlier to a one-week high, approaching the biggest gap in seven years ver…
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Treasuries Halt 3-Day Drop Amid Yellen Speech Speculation
Global equity markets edged higher on Thursday, with the S&P 500 hitting an all-time high, as U.S. and German data drove confidence on economic growth and helped extend a stock rally. Data on German private-sector growth reassured investors about the outlook for Europe’s biggest economy fol…
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Stocks extend rally, S&P at new high as data signals growth
This Great Graphic was created on Bloomberg. It shows three major equity indices indexed to a year ago. The white line is the S&P 500. It has done the best here, rising 21% over the past year. The yellow line is the MSCI Emerging equity market. It has risen 17% over the past year. The green …
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Relative Performance Real and Anticipated
The U.S. judge who barred Argentina from servicing its debt until it settled with investors demanding full payment on their bonds scheduled a new hearing on Thursday, after the country unveiled plans to sidestep his ruling that led it to default for the second time in a dozen years. Argentina mis…
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U.S. judge calls Argentina debt row hearing amid contempt calls
The number of people filing new claims for unemployment benefits fell last week to 298,000, marking the third time in the last five weeks they have fallen below the 300,000 level. The last time claims were so low was in early 2000 and 2006, at the height of previous economic expansions. Jobless c…
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Why Are Jobless Claims Falling So Fast?
U.S. natural gas supplies rose 88 billion cubic feet in the week ended Aug. 15, the Energy Information Administration said Thursday. Overall, a stockpile of 2,555 bcf in storage was 535 bcf below the 5-year average of 3,090 Bcf. Analysts polled by Platts expected an increase between 81 bcf and 85…
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Natural gas turns lower after larger supply increase
Philly Fed has beaten expectations for 6 months in a row with its biggest surge since the 2009 lows. Against expectations of 19.3, Philly Fed printed 28.0 – highest since March 2011 all-time highs. All sounds awesome right? Umm, no, 7 of 9 internal declined including – New Orders tanked, Employment…
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Philly Fed Surges To Highest Since March 2011 Despite Plunge In Jobs & New Orders
Euro-area consumer confidence declined in August as escalating political tensions in eastern Europe threaten the region’s already faltering economic recovery. An index of household sentiment in the euro zone decreased to minus 10 from minus 8.4 in July, the European Commission in Brussels said in…
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Euro-Area Consumer Sentiment Drops as Ukraine Threatens Recovery
Purchases of previously owned U.S. homes unexpectedly rose in July to a 10-month high as low borrowing costs and an increase in inventory drew buyers. Existing home sales climbed 2.4 percent to a 5.15 million annual pace, the most since September, from a revised 5.03 million pace in June, the Nat…
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Sales of Previously Owned Homes in U.S. Climb to 10-Month High
Existing-home sales increased in July to their highest annual pace of the year, and the ongoing decline in distressed sales reached an important milestone, according to the National Association of Realtors®. Total existing-home sales1, which are completed transactions that include single-family h…
The Conference Board Leading Economic Index® (LEI) for the U.S. increased 0.9 percent in July to 103.3 (2004 = 100), following a 0.6 percent increase in June, and a 0.6 percent increase in May. “The LEI improved sharply in July, suggesting that the economy is gaining traction and growth should co…
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The Conference Board Leading Economic Index (LEI) for the U.S. Increased in July
Indicators for the August Business Outlook Survey suggest that the region’s manufacturing sector is continuing to grow. The survey’s indicator for general activity was higher this month, but indicators for new orders, shipments, and employment, while positive, fell from their readings in July. The…
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August 2014 Business Outlook Survey
• Manufacturing PMI rebounds sharply from July’s three-month low • Output and new orders both rise at faster rates • New export business increases at steepest pace for three years • Employment growth accelerates to strongest since March 2013 Data collected 12–20 August 2014. The seasonally adjuste…
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U.S. Manufacturing PMI rises to highest level since April 2010
The US dollar remains firm, but the upside momentum may slow ahead of Yellen’s speech at Jackson Hole tomorrow. The seemingly hawkish take away from the FOMC meeting may be corrected by the Fed’s chair when she discusses the metrics of the labor market that lead her (and others) to conclude that…
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Greenback may Lose some Momentum Ahead of Yellen Tomorrow
