Morgan Stanley is running a very interesting strategy to play the Cable right now. As a short-term trade recommendation, MS maintains a long GBP/USD position from 1.68, targeting a move back towards 1.7195, with a stop at 1.67. “We view this as purely a near-term tactical buying opportunity as …
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Morgan Stanley Holds Long Cable S/T, Plans To Sell Rebounds M/T
German prosecutors are seeking charges against Deutsche Bank co-CEO Juergen Fitschen and several former executives at the bank in connection with the long-running Kirch bankruptcy case, legal sources said on Tuesday. The decision to pursue charges, while widely expected, is a serious blow to Fits…
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German prosecutors seek charges against Deutsche Bank co-CEO
July’s Optimism Index technically rose 0.7 points to a reading of 95.7. There was little change in the 10 Index components other than outlook for expansion and business conditions which accounted for the small gain in the Index. Even though these improved, they still remain historically low. “On …
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NFIB: US Small Business Optimism Ticks Up Slightly
The U.S. jobs environment has picked up steam this year, and data details to be released Tuesday will paint a picture of the labor market’s strengths and weaknesses. Specifically, markets will learn from the government’s report on its monthly job openings and labor turnover survey, or JOLTS: how…
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US job openings expected to continue upward march
The US dollar is mostly firmer against the major and most emerging market currencies. The cease fire in Gaza and the humanitarian effort in east Ukraine has eased geopolitics off the front burner. The main driver today is poor economic news from Japan, Germany and the UK. Japan revised down i…
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Geopolitical Concerns Ease, Allowing Poor Economic News to have Sway
Investor sentiment has settled once more into a more cautious mode as the market tries to work out the implication of President Putin offering “humanitarian” aid to Ukraine. For what it is worth, I feel that Putin has proved repeatedly during the process that he cannot be trusted and if he can get…
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Strengthening US Dollar holding back a recovery for Euro and Swissy
German investor confidence declined to the lowest level since 2012 as the crisis in Ukraine and a sluggish euro-area recovery damp the outlook for Europe’s largest economy. The ZEW Center for European Economic Research in Mannheim said its index of investor and analyst expectations, which aims t…
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German Investor Confidence Slumps as Ukraine Crisis Worsens
The ZEW Indicator of Economic Sentiment for Germany declines significantly in August 2014. The respective indicator has lost 18.5 points and now stands at 8.6 points (long-term average: 24.6 points). Decreasing for the eighth consecutive time, the indicator has reached its lowest level since…
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German ZEW – Economic Expectations Decline Significantly
President Vladimir Putin said on Monday Russia is sending an aid convoy to eastern Ukraine despite urgent Western warnings against using humanitarian help as a pretext for an invasion. With Ukraine reporting Russia has massed 45,000 troops on its border, NATO said there was a “high probability” t…
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Russia sending aid convoy to Ukraine despite Western warnings of ‘invasion pretext’
Virtual currencies such as bitcoin are the “Wild West” of financial products because of risks including huge swings in exchange rates, the U.S. Consumer Financial Protection Bureau said on Monday. “Virtual currencies are not backed by any government or central bank, and at this point consumers ar…
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U.S. watchdog calls bitcoin ‘Wild West’ of finance
Economic reports for Europe and the US return on Tuesday after yesterday’s quiet day for macro. Fresh estimates on the outlook for Germany’s economy will be a key event today via ZEW’s survey of financial executives. Later, a pair of US reports should grab the market’s attention with a July read…
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3 Numbers: German ZEW poll highlights concerns, US sentiment, US jobs
Prev revised down from EUR -3.1bln; EURUSD 1.3362
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French current account June EUR -3.1bln vs -3.3bln prev
Trading well is simple but it’s not easy. Due to its simplicity, many traders attempt to jump into a trade figuring it will work out sooner or later. However, a trading plan that involves wishing leaves traders, experienced and new, exposed to a myriad of problems. Trading Means More Than Wish…
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3 Key Components to Developing a Strategy
This year’s best-performing major currency is losing steam as the Reserve Bank of Australia reinforces prospects it will consider cutting interest rates unless the economy regains momentum. Derivatives traders turned the most pessimistic on Australia’s dollar since March and boosted the odds of …
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Aussie Rate-Cut Bets Derail World-Beating Gain
Recently, the overall rate of inflation has risen, owing partly to inflation in Owners’ Equivalent Rent (OER). But many wonder if the current rate of OER inflation, which is now at levels not seen since 2009, is simply a blip. We apply a forecasting approach to estimate whether OER inflation will…
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Recent Owners’ Equivalent Rent Inflation Is Probably Not a Blip
Regulatory pressure to undo the traditional way brokers sell research alongside share dealing is alarming traders in Europe, who fear a further drop in business and more cost-cutting in an already tough environment. At stake is the lucrative but opaque system under which fund managers pay brokers…
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Traders brace for research crackdown as easy money dries up
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Auction Result of 30-Year JGBs on August 12, 2014
REINZ, the most up to date source of real estate data in New Zealand, announced today that there were 5,893 dwelling sales in the month of July, down 13.0% on July 2013 and up 2.3% compared to June. The national median price was $416,000 for the month of July, an increase of $31,000 compared to July…
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Choppy trend in July New Zealand house sales – REINZ
Treasury 10-year (USGG10YR) note yields traded at almost the lowest level in a year amid speculation on whether turmoil in Ukraine will escalate. The benchmark debt’s yield pared an increase on concern Russia would use a humanitarian-aid mission to eastern Ukraine as a pretext for armed action in…
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U.S. 10-Year Yields at Almost One-Year Low on Ukraine
The correction down in USD/JPY last week has led CitiFX Technicals to revisit charts that show similarities with late 2012 – something that Citi has been focused on for a while when it comes to USD/JPY. “The rally up, correction down and long consolidation on USDJPY over the past 8-9 months has…
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USD/JPY: ‘On Your Marks’; Revisiting Charts From Late ’12 – Citi
