The euro steadied on Friday, accepting soft euro zone inflation and disappointing growth data as keeping alive prospects of more stimulus from the European Central Bank. Knocks taken by the dollar following the release of lacklustre weekly jobless claims on Thursday also underpinned the euro as t…
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Euro shrugs off disappointing GDP data, data-hit dollar helps
At Intercheese AG’s headquarters in Switzerland, the phone barely stops ringing these days. A Russian voice is usually at the other end. …
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Cheese-Loving Russians Turn to Switzerland for Emmental
The decline form the highs has been a pleasure to trade for the bears but the basing pattern has formed and already seeing an argument for gains before losses resume. There was some noise around the trendline and technically it is invalidated due to the breach. However the key swing low of 84 has…
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NZDUSD: The Kiwi builds a nest above 0.84
France’s finance minister sends tremors through European capitals with a defiant warning that his country would no longer try to meet deficit targets. …
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France rebels against austerity as Europe’s recovery collapses
Last week, BNP Paribas stopped out of its long USD/JPY trade at 101.85 (its original entry level), but remains USD/JPY bulls for 2014. “However, our expectation of a rise in USDJPY is driven by bearish Japanese factors as well as a bullish USD outlook,” BNPP argues. 3 Reasons To Re-Buy: …
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Getting Ready To Re-Buy USD/JPY: 3 Reasons – BNP Paribas
Asian shares got off to a lackluster start on Friday but were still on track for a winning week, while the euro remained close to nine-month lows after downbeat data. Euro zone bond yields dropped to record lows after Germany reported its economy unexpectedly shrank in the second quarter, raising…
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Asian shares tread water, on track for weekly rise
With geopolitical tensions moved to the backburner yesterday, Wall Street got back to doing what it knows best, making solid gains. Despite flat retail sales, the S&P climbed by around 0.7%, although it should also be remembered that any data which is solid but not spectacular (due to the perception…
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Lack of Eurozone growth keeps the euro under pressure
CRUDE TELLING US WHAT? I pointed out that many markets were consolidating – more than usual. And crude was one of them. Today crude broke out of its consolidation and sold off over 200 points. Crude has normally been considered an economic indicator suggesting a disinflationary environment…
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Metals, currencies, energies
ANZ today announced an unaudited cash profit 1 of $5.2 billion and an unaudited statutory net profit of $5.0 billion for the 9 months to 30 June 2014, both up 8% on the same period in 2013. Cash profit increased 6% on an FX adjusted basis. Chief Executive Officer Mike Smith said: “ANZ has con…
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Super regional strategy sees ANZ deliver a strong profit performance year to date
Southeast Asian companies are ramping up acquisitions in preparation for the region’s economic integration next year, seeking to ensure that they can thrive in a global market. The value of mergers and acquisitions between Southeast Asian businesses for the January-June half rose 27% on the …
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Southeast Asian businesses stepping up M&As to survive
For nearly 10 years, Spanish internet company Let’s Gowex SA said it was making money by providing public wi-fi in cities around the world. Most of the contracts, it now emerges, never existed. Instead Gowex chief Jenaro Garcia Martin used a series of tricks to fool company employees, investors …
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Web of lies: How a Spanish tech star fooled the world
The Initiative on Global Markets, based at the University of Chicago, periodically surveys a group of leading academic economists, of varying political persuasions, on the issues of the day. Its latest roundup asked whether President Barack Obama’s stimulus plan helped to reduce unemployment in the…
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The Perils of Economic Consensus
The 10-year German bund yield dipped below 1.0% briefly today for the first time, encouraged by the unexpected contraction in Germany’s Q2 GDP. Ideas that the area’s stagnation in Q2 coupled with still no signs that inflation has bottomed, fans speculation of new initiatives by the ECB, which will…
If this week’s economics news is positive then that is good. But if it’s bad then that’s even better, since there is more potential for it to improve next week, and if it doesn’t, well that’s doubly better since there will be even more reason for central banks to step in and push up asset prices….
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Abenomics – What Could Possibly Go Wrong?
The benchmark German bond yield dipped below 1% on Thursday, a move that’s being watched far beyond the borders of the euro zone’s biggest economy. The 10-year German government bond, or bund, BX:TMBMKDE-10Y -1.08% yield has been sliding lower since the beginning of the year, stoking fears about…
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German yield below 1%: 4 takeaways
A somewhat incestuous acquisition campaign has taken place this week, with GAIN Capital subsidiary Forex.com Japan acquiring Planex’s FX client base, just 1.5 years after Planex took over GFT’s Japanese business prior to GAIN acquiring GFT Forex.com Japan, the brand of GAIN Capital, announced on…
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Forex.com Japan Acquires FX Clients of Planex Trade
Warren Buffett, welcome to the $200,000 club. Membership: One. Berkshire Hathaway Inc.’sBRKB +0.79% Class A shares jumped above $200,000 on Thursday for the first time, yet another milestone for the gigantic conglomerate run by Mr. Buffett. The stock is up 13% this year after rallying more than 3…
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Buffett’s Berkshire Shares Top $200,000 for First Time
The only word to describe today’s just concluded, and final for the week, auction of 30 Year paper can only be described with one word: blistering. First, the pricing yield itself, coming at 3.224% a whopping 2.5 bps through the When Issued, was the lowest since May 2013, just before the first Taper…
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Blistering Demand For 30 Year Paper; Lowest Yield Since May 2013; Directs Strongest Since 2011
It is happening again! This morning’s shockingly bad economic data out of Europe is being treated as good news by the markets, with both equity and bond prices initially responding favorably to the news. This paradox is a repeat of yesterday, when markets also treated the bad news for Main Street –…
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Markets Are Making a Sucker’s Bet on Europe
Before his death, Robin Williams made sure his family — including wife Susan Schneider — would receive plenty of money from his estate. The actor set up trust funds for his kids and his real estate. Despite his severe depression, it was always important to him that his family was protected. That…
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Robin Williams’ Net Worth Despite Depression And Financial Problems, Put Family First
