The European Central Bank (ECB) allows graffiti artists to use the fence around the construction site of its new headquarters in Frankfurt as a public gallery. The works are often politically charged and deeply critical of German Chancellor Angela Merkel, ECB President Mario Draghi and capitalism…
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ECB Frankfurt Graffiti: Angela Merkel ‘Money Kills Morals’ Art on European Central Bank HQ Fence
Natural-gas futures lost some steam early Thursday after the Energy Information Administration reported an increase in U.S. supplies in line with Wall Street expectations. Natural-gas supplies rose by 82 billion cubic feet in the week ended Aug. 4, the EIA reported. Analysts polled by Platts had…
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Natural-gas futures pare gains after supply report
The Ivey Purchasing Managers Index was at 54.1 on a seasonally adjusted basis in July, indicating that purchasing activity in Canada expanded from June. The index, which measures changes in economic activity as indicated by a panel of purchasing managers from across Canada, is sponsored by the Ri…
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Canada Ivey Purchasing Managers Index at 54.1 in July
ECB’s August policy meeting was due to be a non-event – after all, there had never been a physical policy meeting in August before 2006 – until recent geopolitical events and a couple of weak macro data shed doubts over the prospects of a gradual improvement in Eurozone’s growth momentum. The …
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ECB looking through the noise
As widely anticipated, the ECB left policy on hold and Draghi did not change his tone or general assessment. The euo whipped around a bit on the headlines and spiked down to new session lows just ahead of $1.3350, but rebounded quickly toward the session highs near $1.3390. There are five poin…
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Draghi Stays the Course
CySECThe Cyprus Securities and Exchange Commission (CySEC) sent a letter earlier this week to Cyprus Investment Firms (CIFs), Administrative Services Providers (ASPs) and all other regulated entities warning them of compliance issues. According to the letter, during the years 2013 and 2014, the c…
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Insufficient Anti-Money Laundering and Terrorist Financing Methods Uncovered in Cyprus
Fewer Americans filed applications for unemployment benefits last week, sending the average over the past month to an eight-year low, a sign the labor market continues to gain momentum. Jobless claims decreased by 14,000 to 289,000 in the week ended Aug. 2 from 303,000 in the prior period, a Lab…
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Jobless Claims in U.S. Fall as Average at Eight-Year Low
Contractors took out building permits worth $8.0 billion in June, up 13.5% from May. The June increase was mainly due to higher construction intentions for institutional and industrial buildings in Quebec and commercial buildings in Alberta. The value of non-residential building permits rose 32.5%…
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Canada Building Permits, June2014
Summer holiday’s, what summer holiday’s? It near impossible to take your eyes off the trading screens, in doing so, one may misinterpret the next event or geopolitical risk that has been thrown at capital markets in the most unique of times. Market dynamics are shifting, albeit regional, political…
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Pressure Intensifies for ECB’s Draghi
The European Central Bank kept interest rates unchanged at record lows as the Ukraine crisis strengthened the headwinds facing the euro area’s recovery. The 24-member Governing Council meeting in Frankfurt left the main refinancing rate at 0.15 percent, as predicted by all 57 economists in a Blo…
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ECB Holds Rates as Ukraine Turmoil Menaces Recovery Hopes
The Bank of England kept interest rates at their record low on Thursday, giving Britain’s fast economic recovery more time to build even as differences among its policymakers become more apparent. The BoE’s Monetary Policy Committee left Bank Rate at 0.5 percent, the level it has maintained sinc…
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Bank of England holds steady as rates debate heats up
Following 4 straight weeks of losses, Cable is amid its most bearish move since the July lows. It had not come without warning though. Leading up to the multi- year highs price had reached a distance from its own 50-week MA which had previously seen Cable revert to the mean (and beyond). The DPO …
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GBPUSD takes a breather whilst awaiting BoE
Russia will ban all imports of food from the United States and all fruit and vegetables from Europe, the state news agency reported on Wednesday, a sweeping response to Western sanctions imposed over its support for rebels in Ukraine. The measures will hit consumers at home who rely on cheap impo…
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Russia bans all U.S. food, EU fruit and vegetables in sanctions response
An “anomaly” in dollar-yen trading just before and after the release of the U.S. monthly payrolls report represents an opportunity for investors to buy the dollar against the yen, according to Mizuho Securities Co. The CHART OF THE DAY shows the greenback rising against the yen in the run-up to …
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Yellen Spurs Dollar Bargain in Payrolls Quirk
The Bank of England looks likely to start the ball rolling towards its first interest rate hike since 2007 when it wraps up a policy meeting on Thursday. The two-day meeting is likely to have produced the first split over rates in more than three years, with at least one member of the monetary po…
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Bank of England likely to hold interest rates at 0.5%, say economists
BREAKING
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Russia bans food imports from EU, U.S., Canada, Australia
Here are five questions for Mario Draghi today. The European Central Bank president holds a press conference at 2:30 p.m. in Frankfurt, 45 minutes after the Governing Council’s announcement on interest rates. Is any further policy action likely for now? No, according to economists. While Dra…
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Five Questions for Mario Draghi to Answer for You Today
The Swiss National Bank’s foreign exchange reserves rose in July, data showed on Thursday. The central bank held 453.391 billion Swiss francs (499.55 billion US dollar) in foreign currency at the end of July, compared with 449.602 billion in June, revised from an originally reported 449.553 billi…
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SNB forex reserves up in July
Investors in Japan are embracing a new structure for ruble-denominated notes, buying long-term zero-coupon bonds betting interest rates in Russia will fall. Some 3.5 billion rubles ($97 million) of 15-year uridashi notes that are issued at a discount and pay no interim interest have been sold to…
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Japanese Investors Bet on Russia Rate Drop With Zero-Coupon Bond
