It’s the middle of the week in the middle of the summer and the top tier US data releases that fuel FX trading activity are scarce. A lack of actionable data tends to shift the focus to geopolitical events to explain currency moves and fortunately there is no shortage of these issues. A report that…
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Risk aversion creeps into FX trading
Alex Salmond has been told he needs a ‘Plan C’ for an independent Scotland – given it would not be able to use the pound or the euro. The Scottish First Minister, insists the country can keep the pound if it votes to leave the UK in the referendum in September. Such a deal has been ruled out b…
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No pound, no euro: With a vote on Scottish independence imminent, why Scotland needs a plan C
German industrial output grew less than forecast in June as Europe’s largest economy came under pressure from political tensions with Russia. Production, adjusted for seasonal swings, rose 0.3 percent from May, when it declined a revised 1.7 percent, the Economy Ministry in Berlin said today. Wh…
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German Industry Output Grows Less Than Expected on Russia
The European Central Bank is set to hold fire on rates on Thursday as it waits for earlier stimulus measures to gain traction, while keeping an eye on emerging risks from the conflict in Ukraine. The ECB cut interest rates to record lows in June, became the first major central bank to charge bank…
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ECB set to hold fire on rates, eyes risks from Ukraine conflict
In June 2014, production in industry was up by 0.3% from the previous month on a price, seasonally and working day adjusted basis according to provisional data of the Federal Statistical Office (Destatis). In May 2014, it decreased a revised 1.7% from April 2014. Production in industry excluding…
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Germany: Seasonally adjusted production in June 2014 up 0.3% on the previous month
Consumer sentiment has been better than its long-term average for several quarters, but further improvement is proving elusive. With a value of -1 point reached in July 20141, the general index has remained at much the same level since the beginning of the year. Nor have any major changes in the …
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Swiss Consumer sentiment: no further improvement for the time being
Reuters are citing sources who say that the huge Japanese pension fund is planning to allocate over 20% of funds to Japanese stocks which is up from the current 12% target. They are also likely to lower their JGB allocation to around 40% vs the current 60% The sources say it’s also likely that…
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Japan’s massive GPIF stirring up the investment pot
Concerns that Europe’s feeble recovery is under a darkening cloud of risk will be front and centre today as the market focuses on new industrial production data for Germany and an announcement on monetary policy from the European Central Bank. The Bank of England will also release an announcement…
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3 Numbers: German industry concerns – BoE and ECB announcements
Activ Financial, a global provider of real-time, multi-asset financial market data and solutions is building out new feed handlers for Lynx ATS, Omega ATS’s new Canadian alternative trading system, and CX2, Chi-X Canada’s second ATS, to provide domestic and US customers with complete coverage of…
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Activ Financial readies Lynx ATS and CX2 feed handlers
The number of Americans renouncing U.S. citizenship declined 13 percent in the final half year before rules that make it harder to hide assets from tax authorities came into force. People giving up their nationality at U.S. embassies fell to 1,577 in the six months through June, from 1,809 in the…
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Americans Give Up Passports as Asset-Disclosure Rules Start
Technically we can see that 0.937 has been firmly rejected with a break below 0.9275 (last week’s low) required to confirm bearish trend continuation. I stand by the bias that 95c was a multi-month top and now require the bearish move to accelerate to remain confident we are about to witness an…
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Aussie unemployment jumps to 12-year high: Looks weak below 0.937
Last month, I wrote about why Rupert Murdoch’s Time Warner bid offered little insight into whether this was a market top. My short list of reasons included cherry-picked data that ignored most of Murdoch’s takeover activity during the past half-century; a small and meaningless sample size of just…
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The Murdoch Market Indicator
China is quietly pushing back its loose timetable to make the yuan freely convertible, policy insiders say, as authorities fear removing capital controls too soon could unleash damaging speculative flows that will make it harder to reshape the economy. There has never been a hard target date for …
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Risk-averse China seen pushing back plans to free yuan
Australia’s unemployment rate unexpectedly climbed in July to the highest since August 2002 as joblessness increased along the nation’s eastern seaboard, increasing the likelihood interest rates will remain at a record low for an extended period. The Australian dollar fell. The jobless rate rose …
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Australian Jobless Rate Jumps to 6.4% Sending Currency Lower
Oil traders are fleeing Brent crude at the fastest pace in eight years as signs of a glut undermined bets that the Islamist insurgency in Iraq would threaten supply. The CHART OF THE DAY shows how the number of outstanding contracts in Brent crude collapsed in July as the forward curve on the ICE…
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Oil Traders Flee Brent as Prices Signal Glut: Chart of the Day
The euro nursed broad losses early on Thursday after a batch of disappointing data from Italy and Germany soured sentiment for the currency just hours ahead of a policy review by the European Central Bank. Italy unexpectedly slid back into recession in the second quarter, while German industrial …
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Euro wary as ECB looms, dollar suffers bruising blow vs. yen
Gold-colored Bugatti’s and souped up Lamborghinis cruise along London’s streets in the early hours of the morning. “The season” during which rich Arab boy racers come to flaunt their million dollar cars in one of London’s richest areas is upon us. Knightsbridge – the location of world famous depa…
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Arab supercars back on London’s luxe streets
The national construct ion industry continued to grow in July , with the Australian Industry Group/Housing Industry Association Australian Performance of Construction Index (Australian PCI ) increasing by 0.8 points to 52.6 points (seasonally adjusted). This was above the critical 50 po…
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Australian PCI: Construction Continues To Expand In July
The rally isn’t sustainable so i’m looking to sell again after cutting my short overnight. So at the close US markets recovered over the course of the day from the early European lead weakness. At the close the Dow was up 14 points to 16,443 for a rise of 0.08%. The Nasdaq was up just two points …
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The Euro rally makes no sense as markets are getting more unstable
The USDJPY pair saw major upside following a breakout above a key trend-line almost two weeks ago. This has brought about a more bullish outlook for many and with yet another major trend-line having been taken out, it seems that we are seeing a period of bullish consolidation which has been testing…
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USDJPY seeking to find support upon major trendline
