The barrier option is now breached and the last bids around 1.3297 now gone too; Stops expected below 1.3295 as per my orderboard but no real acceleration as I type; Update: Now on 11-month lows of 1.3293. USDCHF up to 0.9112
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EURUSD finally pops 1.3300
The recent array of mergers and acquisitions that have taken place in the FX industry sometimes have wider consequences than one would expect and GAIN Capital’s purchase of GFT appears to be a fresh piece of evidence to support this notion. The deal, finalized in September 2013, now starts to show…
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Forex.com becomes the first broker to offer spread betting in Russia
The recent array of mergers and acquisitions that have taken place in the FX industry sometimes have wider consequences than one would expect and GAIN Capital’s purchase of GFT appears to be a fresh piece of evidence to support this notion. The deal, finalized in September 2013, now starts to show…
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Forex.com becomes the first broker to offer spread betting in Russia
Case for raising UK interest rates weakens after soft inflation data CBI trends survey expected to show manufacturing growth down sharply FOMC minutes to provide clues for rate rise timing By James Picerno Debates about monetary policy and the timing of the first interest rate hikes for the …
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3 Numbers: BoE minutes point to rates left on hold, UK industry, FOMC
Case for raising UK interest rates weakens after soft inflation data CBI trends survey expected to show manufacturing growth down sharply FOMC minutes to provide clues for rate rise timing By James Picerno Debates about monetary policy and the timing of the first interest rate hikes for the …
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3 Numbers: BoE minutes point to rates left on hold, UK industry, FOMC
In July 2014 the index of producer prices for industrial products fell by 0.8% compared with the corresponding month of the preceding year. While prices of consumer non-durable goods increased by 0.6% compared with July 2013 prices of intermediate goods decreased by 0.5% and energy by 3.2%. In June…
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German Producer prices in July 2014: –0.8% on July 2013
Mike Yack has left the workforce twice in the last eight years and calls himself retired, yet at age 62 the former General Motors employee does not consider his working life over. “I’d be open to anything – learning a new trade or something. I don’t expect top wages. But I am not going to work …
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Many who have left U.S. labor force say they would like to return
Any day, week, month, year now… Japan’s adjusted trade balance missed expectations by the most since October 2013 (back over a JPY1 trillion deficit) as the QQE-ing, j-curve-any-minute-now nation awaits the arrival of the competitive pickup for the 40th month in a row. Exports beat expectations …
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Japanese Trade Deficit Streak Hits 40 Months, Biggest Miss Since October
The buying has continued in the USD … most notably USD/JPY which has jumped above 103.05 and is now around 103.20. I posted a little while ago on the broad USD buying and noted nothing in way of fresh news …. nothing to add on that front.
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USD/JPY continuing its rise, through 103.15
The Federal Open Market Committee releases minutes from its last meeting on Wednesday afternoon, but Wall Street is already downplaying the event as a sideshow in comparison to an annual symposium on monetary policy in Jackson Hole, Wyoming, two days later. “The FOMC minutes are telling us about …
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FOMC minutes a market diversion until Jackson Hole
Bank of China Ltd. more than doubled its money set aside for bad loans as profit growth cooled to the slowest pace in five quarters on weakness in the economy. Provisions for potential soured debt climbed to 12.7 billion yuan ($2.1 billion) in the second quarter, up 116 percent from a year earlie…
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Bank of China Doubles Money for Bad Loans as Growth Slows
With a large bear “wedge” and “head & shoulders” top in place in EUR/USD, the pair finally manages to see a break below the 1.3333 recent low, notes Credit Suisse. “This should complete a bearish “pennant” continuation pattern to see a move to the November 2013 low at 1.3295 next,” CS projects….
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EUR/USD: Bear Pennant; USD/JPY: Square At Range High & Re-Buy – Credit Suisse
At 1033ET, Bloomberg headlines flashed: “WHOLE MILK POWDER PRICES FALL 11.5% IN GDT AUCTION” which caused an instant collapse in Kiwi (NZDUSD) as headline-reading algos reacted. However, as “humans” knew and @FXMacro reminded Bloomberg, that was last month’s drop…When Bloomberg reissued: “CORRECT:…
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When Headline Scanning Algos Get Crushed By A Wrong Bloomberg Headline
One of the keys to succeeding on these tests was to have strong reading comprehension skills. Toward that end, I taught what I like to call active reading. It required the reader to approach text in a rigorous and logical way, challenging each sentence to find assumptions, false statements and…
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How to Spot the Garbage in News
All eyes will be on Jackson Hole, Wyoming, where The Kansas City Federal Reserve will host its annual economic policy symposium. The event kicks off on Thursday, August 21. The topic of this year’s meeting: “Re-Evaluating Labor Market Dynamics.” This is a perfect topic given what’s happening …
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Some Of The World’s Brightest Minds Are Meeting This Week To Solve A Huge Puzzle In Economics
Steve Ballmer resigned from Microsoft Corp. (MSFT)’s board, eight months after his departure as chief executive officer, ending more than three decades of direct involvement in the world’s largest software maker. Ballmer, 58, remains Microsoft’s top individual shareholder. He had initially remai…
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Steve Ballmer Exits Microsoft’s Board After Departure as CEO
Since the hearing in March, the global economy has continued its expansion at a moderate pace, and Australia’s trading partner group has been growing at about its long-run average rate. With the abatement of the adverse winter weather, the US economy recovered in the June quarter and the labour…
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RBA Stevens: Opening Statement to House of Representatives Standing Committee on Economics
A big night if you were long Sterling as the weak CPI and PPI data (see below) hit longs right between the eyes taking GBP down more than 100 points from the highs. On the dailies you might be able to argue that GBP’s sell off is a little overdone even though it has just had a range break. But on…
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Currency traders catch up to the US economic strength – Sterling tanks
The AUDUSD has rejected a major level of resistance today, following a strong week of upside in the pair. The breaking lower is likely to spell the beginning of a bearish move for the week. The daily chart shows a clear resistance around the 0.93395 and ascending green trend-line. Given the compl…
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AUDUSD rejection making pair look bearish
