Such is the US dollar’s strength currently that even an eight month high UK services PMI reading is unable to underpin the GBP/USD. After an initial bounce on the back of the cheerful data, the Cable has relinquished about half of its gains already and has turned flat on the session. The GBP crosses…
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GBP/USD struggling to hold onto gains despite UK PMI surprise
U.S. stocks, which are coming off their worst week in more than two years, have run into trouble. And that raises the question: Is the selling just getting started? Ever since the 2008-09 financial crisis, which scared stock investors and slashed the value of the U.S. stock market by nearly 60%,…
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Is it just a pullback, coming correction or beginning of bear market?
Reuters: Russian President Vladimir Putin tells Government to prepare retaliatory measures against latest western sanctions
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Putin tells Government to prepare retaliatory measures against latest western sanctions
The federal government has a serious problem keeping tabs on its employees, from an FCC worker watching porn while at work, to DHS employees collecting overtime pay to sit on Netflix or talk on the phone. And now, a new report from the Patent and Trademark Office found that at least 19 paralegals…
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Federal Government Pays Workers $5 Million to Not Work
•whole milk powder prices fall 11.5% in GDT auction •Global dairy trade price falls 8.4% •global dairy trade average winning price 3025/MT NZDUSD taking a tumble to 0.8465 on the news, currently finding some support to rally to 0.8473 Bids at 0.8450 but expect any rally to 0.8500 to be sold to f…
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Kiwi under pressure again as GDT auction sees prices tumble
Service industries in the U.S. expanded in July at the fastest pace since December 2005, showing the economy was building more momentum at the start of the second half of 2014. The Institute for Supply Management’s non-manufacturing index increased to 58.7 from the prior month’s 56, the Tempe, Ar…
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Service Industries in U.S. Expand at Fastest Pace Since 2005
New orders for U.S. factory goods rose more than expected in June as demand increased across the board, pointing to a strengthening in manufacturing activity. …
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U.S. factory orders rise solidly in June, inventories slow
Economic activity in the non-manufacturing sector grew in July for the 54th consecutive month, say the nation’s purchasing and supply executives in the latest Non-Manufacturing ISM® Report On Business®. The report was issued today by Anthony Nieves, CPSM, C.P.M., CFPM, chair of the Institute for …
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July 2014 Non-Manufacturing ISM Report On Business
The IBD/TIPP Economic Optimism Index fell 1.1 points, or 2.4% in August, posting a reading of 44.5 vs. 45.6 in July. The index is 0.1 points below its 12-month average of 44.6, 0.1 points above its reading of 44.4 in December 2007 when the economy entered the recession, and 4.8 points below its all…
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US Consumer Confidence Slips In August
July data pointed to another strong rise in U.S. service sector output, with the pace of expansion moderating only slightly from June’s survey-record high. That said, the latest increase in new business volumes was the least marked for three months and …
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Strong US service sector growth maintained during July
The U.S. Treasury said its borrowing needs this quarter declined to the lowest level for the period since 2007 as stronger economic growth boosts tax receipts. Treasury plans to borrow $192 billion in the July-September period, about $22 billion more than it projected three months ago, with an e…
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U.S. Borrowing Needs Hit 7-Year Low on Stronger Growth
The Institute for Supply Management reports on growth at U.S. service firms in July. The ISM will release its services index Tuesday at 10 a.m. Eastern time. FASTER GROWTH: Economists forecast that the index rose to 56.5 in July from 56 in June. Anything above 50 indicates the services sector is …
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Ahead of the Bell: US Services Index
The Reserve Bank of Australia held the Official Cash Rate (OCR) at 2.50%. Glenn Stevens noted that despite some improvements in the labor market, there is likely “some time yet before unemployment declines consistently”. This is a signal that the bank will keep rates low for a long period of time. …
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RBA Holds; AUD/NZD Stalls; Key Jobs Data to Shake it Up
London has been branded the world’s most expensive city for five star hotel suites and luxury serviced apartments, according a new accommodation survey An under supply of top end hotels in the capital, due to land prices, and the strength of the pound have pushed prices up to new heights – wit…
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A night in a London hotel suite now costs £11,700
The Bank of England could raise interest rates as soon as February, a leading thinktank has predicted, but it must send clearer signals in the run up to such a move or risk stock market upheaval. Predicting that the first interest rate hike will come shortly after the new year, the National Insti…
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UK interest rate rise needs proper preparation, NIESR says
A number of Central Bank monetary policy rate announcements, combined with few G10 jobs reports will dominate the fundamental horizon for the remainder of this week. Already the forex market has taken a curve ball with the release of a record-low HSBC services PMI figure from China late last night….
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EUR Pounded Towards Nine-Month Low
Supporters of Scottish independence are hoping leader Alex Salmond’s performance in a U.S.-style television debate on Tuesday can boost their campaign, which is lagging in opinion polls. With just over six weeks to go before Scots vote on whether to break Scotland’s 307-year union with England, …
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Scotland’s pro-independence camp betting on TV debate to win votes
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UK Banking system outlook to negative from stable at Moody’s
Jens Weidmann, president of the German Bundesbank, appears to be shaping up well as the potential next head of the European Central Bank, possibly well before the eight-year term of Mario Draghi, the incumbent, expires at the end of October 2019. In contrast to his predecessor, Axel Weber, who i…
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Weidmann jockeying to replace Draghi at ECB
Activity in Britain’s services industry increased last month at the fastest rate since November, helping overall private-sector activity to its briskest growth in three months, a survey showed on Tuesday. The figures are likely to revive speculation over whether the Bank of England will rai…
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UK PMI services rises to 8-month high
