Growth of the UK service sector strengthened in July as a positive business environment boosted demand and drove new work higher. With workloads rising and capacity under further pressure, services employment continued to increase at a historically marked rate. Service providers retained positive…
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UK service sector continues to expand sharply in July
Eurozone economic growth accelerated at the start of the third quarter. The final Markit Eurozone PMI® Composite Output Index rose to a three-month high of 53.8 in July, up from 52.8 in June, but a shade lower than the earlier flash estimate of 54.0. The combined output of the euro area manufac…
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Eurozone growth accelerates as Germany and Spain strengthen
The following are the intraday outlooks for EUR/USD, EUR/JPY, NZD/USD, and EUR/CHF as provided by the technical strategy team at SEB Group. EUR/USD: Could still recheck the high 1.34s. European (Markit) PMI and the US ISM are the main distractions for the day. Until then, the intraday stretches…
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Intraday Outlooks For EUR/USD, EUR/JPY, NZD/USD, EUR/CHF – SEB
Business activity in Italy‟s service sector continued to rise in July, driven higher by a further increase in the amount of new work placed with companies. That said, growth on both fronts was slower than at the end of the second quarter. Backlogs of work accumulated for the second time …
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Italian Services PMI signals solid rise in business activity despite dipping in July
Last month we covered price action over a series of eight articles. This month, we’re going to advance the concept of technical analysis a step further with the incorporation of indicators. In our price action series, we explained how traders can look to price action for most technical analys…
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The Art of Keeping it Simple
Spanish service providers saw new business increase at the sharpest pace since late – 2006 in July, which supported another sharp expansion of activity and rising staffing levels. Cost inflationary pressures remained relatively muted, while companies continu ed to lower their output prices a…
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Spain: Fastest rise in new business since November 2006
Among a trove of documents and other exhibits on display at the Bank of England to mark the centenary of the outbreak of the First World War are a few that shed light on the close relationship between Britain’s central bank and its U.S. counterpart, the Federal Reserve. The two central banks were…
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“Rejoice”: BOE Showcases WWI Correspondence with Fed
The euro traded at almost its lowest level versus the dollar since November as investors held the largest position in two years betting on a drop in the currency before the European Central Bank meets this week. The pound snapped five days of declines versus the euro before reports this week tha…
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Euro Near Eight-Month Low as Short Bets Surge Before ECB
Tuesday dispenses a spectrum of macro updates, including the hard data on retail spending for the Eurozone. We’ll also see several updates for business surveys. For the US, a pair of survey numbers for the services industry are on tap: Markit’s Services Purchasing Managers Index (PMI) and the ISM…
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3 Numbers: EU cyclical downturn alarm, US retail and services index
The Reserve Bank of Australia kept its key interest rate at a record low and repeated it expects a period of steady borrowing costs amid below-trend growth. The overnight cash rate target was held at 2.5 percent for a 12th month, Governor Glenn Stevens and his board announced in Sydney today in …
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RBA Holds Rate at Record Low to Spur Jobs Amid Rebalancing
At its meeting today, the Board decided to leave the cash rate unchanged at 2.5 per cent. Growth in the global economy is continuing at a moderate pace, helped by firmer conditions in the advanced countries. China’s growth remains generally in line with policymakers’ objectives. Commodity prices …
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Statement by Glenn Stevens: Governor: Monetary Policy Decision
Well, at first, when you look at the 4H AUD/JPY chart, you see a sideways market. 1) The 200-, 100-, and 50-period simple moving averages are all clustered together. 2) The RSI has been pushing above 70 and below 30. The first half of July was bearish, but that didn’t last when price in late July …
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Why AUD/JPY Should be Bullish from a Technical Perspective
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Auction Result of 10-Year JGBs on August 5, 2014
Growth in China’s services sector slowed sharply in July to its lowest level in nearly nine years, a private sector survey showed on Tuesday, indicating a recovery in the broader economy is still fragile and may need further government support. Weakness in new orders was also seen in China’s offi…
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China July HSBC services PMI falls to near nine-year low, recovery strength in question
The following are the expectations for the RBA August policy meeting as provided by the economists at Goldman Sachs, Bank of America Merrill Lynch, Barclays Capital, BNP Paribas, and other major banks. GS: We expect the Cash Rate Target will remain unchanged at 2.50% (in line with the unanimous…
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What To Expect From RBA? – Views From Goldman & 10 Other Banks
Weak iron ore and coal prices have kept Australia’s trade balance in the red. The trade deficit was $1.68 billion in June, following a deficit of $2.04 billion in May, figures from the Australian Bureau of Statistics showed. June’s trade balance was better than the $2 billion deficit economists we…
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Australia trade balance remains in the red
A few days away allows the accumulation of jaded skepticism to wane a bit. Hence, the surprise that registered this morning when I read a Wall Street Journal article on “How Individual Investors Can Invest Like a Hedge Fund.” The article goes on to look at three possible ways that an ordinary…
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Are You Ready to Be a Muppet?
The Bank of England may be underestimating the amount of slack left in the U.K.’s rapidly-growing economy, according to new research published Tuesday, which suggests the central bank could hold off raising interest rates for longer than expected. A paper published by the U.K.’s National Institut…
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UK May be Further from Full Employment than BOE Thinks
A recent academic report on wealth inequality in China shows that the top one percent of households holds one-third of total assets, while the bottom fourth holds only one percent. The report, published by a research institute in Peking University, says the Gini coefficient, better known for its …
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Top One Percent Has One Third of China’s Wealth, Research Shows
While remaining in contractionary territory for the fifth straight month, the Australian Industry Group Australian Performance of Services Index (Australian PSI®) improved slightly in July on the back of growth in sales and new orders. The index was up 1.7 points to a mildly contractionary level of…
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Australian PSI: Services index improves slightly in July
