Commonwealth Bank of Australia is losing faith in the ability of the local dollar to extend its world-beating gains this year. Since April, CBA was alone among Australia’s big-four banks in predicting the Aussie would add to a rally that saw it jump 4.6 percent against the U.S. dollar in 2014, th…
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Last Aussie Bull Capitulates as CBA Pares Rate Bets
For the past five years, the Bank of England’s policy makers have kept interest rates at a record low. For most of that time, they’ve been unanimous on staying put. But this week could see a glimpse of disagreement — and give investors stronger clues on when a hike is coming. Minutes from the BOE…
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Dissent within BOE’s ranks could shine light on rate hike
•Average selling price $3000 per ton •Prior auction -8.4% •Tonnage auctioned -4.1% on prior auction Full details from the auction here NZD/USD falls to 0.8418 but has bounced back to 0.8440 On the whole it’s not as bad as the previous auctions have been. I know sweet Fannie Adams about New Zeal…
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New Zealand Fonterra dairy prices fall 0.6%
Jordan Belfort — the real life stockbroker and scam artist who inspired “The Wolf of Wall Street” — is teaming up with “Rush Hour” director Brett Ratner and Australian billionaire James Packer to produce and write a “Mad Men”-style TV show about the excess of Wall Street in the 1980s. …
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‘Wolf Of Wall Street’ Jordan Belfort Is Writing A TV Show About The Excess Of Wall Streeters
Global Financial Crisis Offered ‘Baptism’ For Some Home-Currency Debt Issuers. Almost all international debt is issued in major global currencies such as the U.S. dollar and the euro, but the financial crisis of 2007-2009 provided an opening for a handful of smaller currencies to gain ground,…
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Fed’s Exit Strategy Quietly Taking Shape As September Meeting Approaches
• USD/CHF strengthened yesterday, erasing all the losses made on Friday. Monitor the resistance implied by the declining channel (around 0.9091). Another resistance lies at 0.9115. A key support stands at 0.9008 (see also the rising trendline). Another support can be found at 0.8969 (17/07/2014 low)…
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USD/CHF – Monitor the short-term declining channel
The cost of living in the U.S. climbed in July at the slowest pace in five months, indicating price pressures remain limited even as the economy picks up. The consumer price index increased 0.1 percent, matching the median forecast of 80 economists surveyed by Bloomberg, after rising 0.3 percent…
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Consumer Prices in U.S. Increase at Slowest Pace in Five Months
Housing starts surged in July to the highest level in eight months, underscoring the recent pickup in builder optimism and showing more traction in the residential real estate market. Beginning home construction climbed 15.7 percent to a 1.09 million annualized rate following June’s 945,000 pace,…
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Housing Starts in U.S. Increase at Fastest Rate in Eight Months
The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.1 percent in July on a seasonally adjusted basis, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 2.0 percent before seasonal adjustment. The all items index p…
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US Consumer Price Index – July 2014
A former senior trader at Rabobank pleaded guilty on Monday to participating in a scheme to manipulate the yen Libor rate, becoming the second employee of the Dutch-based lender to admit guilt in a US investigation into alleged manipulation of interest rate benchmarks worldwide. Paul Robson, a Br…
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Ex-Rabobank trader second to plead guilty to Libor rigging
For the third year in a row, the seemingly perpetually sickly European economy appears to be heading for a nasty case of déjà vu. The prime witness is the well-meaning yet hapless figure of Olli Rehn, formerly in charge of economic and monetary affairs in the outgoing European Commission. As the…
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Euro-zone spin doctors speechless as GDP sinks
Australia’s central bank said the nation’s economic outlook remains uncertain because of the conflicting forces at play and reiterated that interest rates are set to remain on hold. Members “noted the significant uncertainties around the growth forecast and the importance of considering the risk…
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RBA Sees Uncertain Growth Outlook as Rate Pause Reaffirmed
Are we about to fall into the trap once more of believing that geopolitical tensions are easing once more? With talks in Berlin between Russian and Ukrainian officials over the humanitarian aid convoy having been resolved, the very fact that there is dialogue between the sides is giving markets…
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Prospects of a technical rally on the Euro under threat
British inflation eased more than expected in July after hitting a five-month high in June, official data showed on Tuesday. Consumer prices rose 1.6 percent on the year in July, the Office for National Statistics said. Economists taking part in a Reuters poll had expected inflation to fall to 1…
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UK inflation falls more than expected in July
•UK house prices increased by 10.2% in the year to June 2014, down from 10.4% in the year to May 2014. •House price annual inflation was 10.7% in England, 3.5% in Wales, 6.0% in Scotland and 4.9% in Northern Ireland. •House prices are increasing strongly across most parts of the UK, with prices i…
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UK House Price Index, June 2014
•Both annual output producer price inflation and input prices fell in the year to July. •The output price index for goods produced by UK manufacturers (factory gate prices) fell 0.1% in the year to July, compared with a rise of 0.3% in the year to June. •Factory gate prices fell 0.1% between June…
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UK Producer Price Inflation, July 2014
•The Consumer Prices Index (CPI) grew by 1.6% in the year to July 2014, down from 1.9% in June. •Falls in clothing prices provided the largest contribution to the fall in the rate. Other large downward effects came from the alcohol, financial services and food product groups. •The largest, partial…
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UK Consumer Price Inflation, July 2014
The seasonally adjusted current account of the euro area recorded a surplus of €13.1 billion in June 2014 (see Table 1). This reflected surpluses for goods (€11.6 billion), services (€8.8 billion) and income (€4.8 billion), which were partly offset by a deficit for current transfers (€12.2 billion)….
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Euro area balance of payments in June 2014
The following are the intraday outlooks for EUR/USD, GBP/USD, EUR/JPY, and AUD/NZD as provided by the technical strategy team at SEB Group. EUR/USD: Some inter-range selling noted. The pair remains confined to meander insider those 1.3333/1.3433 parameters set some time ago. Yesterday some sell…
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Intraday Outlooks For EUR/USD, GBP/USD, EUR/JPY, AUD/NZD – SEB
The Swiss National Bank is seen maintaining its cap on the franc for at least another two years as the economic revival in the neighboring euro area struggles to gain tractions. More than three quarters of the respondents in the Bloomberg Monthly Survey of 23 economists say that the central bank…
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SNB to Cap Franc Until 2016 as Euro Area Recovery on Hold
