EUR/USD found support at 1.3367 last week after the FOMC monetary policy statement. Then, after a less-than-expected Non-Farm Payroll report, We had another push that brought the pair to 1.3445. This was the high on the week and traders treated it as resistance. In the 1H chart, we are seeing the…
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EUR/USD – Monitoring the Near-term Consolidation Range
Weak global demand will hit the U.S. economy and cause the dollar to sell off in the second half of the year, one analyst told CNBC, contradicting the view held by the broader market that the greenback will rally. Saxo Bank’s chief economist Steen Jakobsen expects euro/dollar to hit $1.40 as the …
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Contrarian’s case: Dollar sell-off coming on ‘huge disappointment’
With some of the world’s most influential central banks summoning their rate-setting bodies this week, the difference between directions of individual monetary policies will become even starker, reflecting the multi-speed economic recovery around the globe. Still, this week probably won’t see any…
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‘Grand central’ to sit tight on rates this week
Takeshi Fujimaki, a former adviser to billionaire investor George Soros, says Bank of Japan Governor Haruhiko Kuroda might learn a lesson from his European counterpart’s “bold” introduction of negative interest rates. “If we must depend on monetary policy, quantitative easing is a colossal mista…
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Kuroda Mistake Shown Up by Draghi, Ex-Soros Adviser Says
Most of the capital markets action here at the start of the week fall into one of two buckets. The first bucket is consolidation. Through the European morning, the most actively traded currency pair, the euro-dollar–is confined to less than 20-ticks. The dollar-yen has been confined to a…
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Markets Look for Direction
Markets have just begun to settle slightly this morning after Wall Street’s worst week since July 2012, as the S&P 500 closed at its lowest level since early June. Investor nerves have been settled after the weekend announcement that the Portuguese government has a $6.6bn plan for rescuing Banco…
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Price action lending support to a prospective Euro rally
BREAKING
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French President Hollande saying EUR hasn’t weakened enough
Portuguese bond yields slipped on Monday after Lisbon agreed a 4.9 billion euro ($6.6 billion) bailout of its biggest bank in a plan that reassured debt investors there would be no wider strain on public finances. After frenzied weekend discussions between Portuguese and European Union officials,…
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Portuguese yields dip on relief after Lisbon agrees BES rescue
Jobs growth has been solid of late, and manufacturing sentiment has been strong. But the lack of wage growth has been apparent, and one manifestation of that has been the paltry growth of credit-card debt. The latest data on consumer credit is due out Thursday. Non-revolving debt like auto a…
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Paltry US credit-card debt growth signals restrained consumer
Richmond Fed chief Jeffrey Lacker in an interview on BBG. Short term interest rate markets have for months priced in a slower tempo of increases than policy makers themselves forecast. That’s risky because the misalignment, a bet against rate path that the central bank alone controls, could lea…
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Fed’s Lacker: markets may be underestimating FOMC tightening pace
Investors may be too confident that Bank of England Governor Mark Carney will increase interest rates before his U.S. counterpart Janet Yellen. Two-year gilt yields rose to the highest since 2011 relative to similar-maturity U.S. notes last month as a strengthening U.K. recovery fueled speculati…
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Yellen Nipping Carney on Rates Unappreciated in Market
In June 2014, compared with May 2014, industrial producer prices1 rose by 0.1% in both the euro area2 (EA18) and the EU282, according to estimates from Eurostat, the statistical office of the European Union. In May3 prices fell by 0.1% in both zones. …
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Industrial producer prices up 0.1% in euro area
British house-building accelerated last month at the fastest rate since November 2003, leading to a record pace of job creation and a shortage of supplies, a survey showed on Monday. The monthly Markit/CIPS purchasing managers’ index (PMI) for the construction sector tapered off slightly to 62.4 …
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UK house building grows at fastest rate since 2003 – PMI
The sentix Economic indices leave their mark with a strong drop in August! The total index for Euroland is reduced by 10.1 to now only 2.7 points. The economic expectations put especially strong pressure on the total index. A sur-prising drop by 13.3 points is founded on the EU’s economic sanctions…
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Sentix – Germany sends a cyclical downturn alarm
Strong output growth was sustained across the UK construction sector during July, although the pace of expansion moderated slightly from the four-month high recorded in June. Housing activity remained by far the best performing construction category, with the latest rise in output the sharpest for…
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Sharpest rise in UK housing construction since November 2003
The Swiss purchasing managers’ index rose to a seasonally adjusted 54.3 points in July from 54.0 points in the previous month, data showed on Monday. The index is compiled by the Swiss SVME purchasing managers’ association and Credit Suisse. KEY FIGURES (in points, seasonally…
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Swiss PMI rises slightly to 54.3 in July
In the biggest advance in European integration since the launch of the euro in 1999, the European Central Bank will take charge of supervising banks from Helsinki to Lisbon in November after subjecting their books to unprecedented scrutiny. The aim is to restore confidence in the euro zone’s ban…
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Will Europe’s banking "big bang" loosen lending?
College student Phil Morris and his three roommates split a monthly rent of 2,600 pounds ($4,400) for a four-bedroom row house in London’s Fulham district. A new homebuyer would pay about three times that much for a mortgage on a similar property in their postcode. “We were surprised that we coul…
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London Renters Win in Billionaire Backyard as Prices Soar
The following are the intraday outlooks for EUR/USD, EUR/GBP, EUR/JPY, and AUD/USD as provided by the technical strategy team at SEB Group. EUR/USD: Could recheck the high-1.34s. Last week ended with a potentially bullish ‘Doji’ candle for the period. Near-term price action also show some upsid…
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Intraday Outlooks For EUR/USD, EUR/GBP, EUR/JPY, AUD/USD – SEB
Registered unemployment in July has decreased by 29,841 people over the previous month and the total number of unemployed registered at the offices of the Public Employment Services stood at 4,419,860. During the last twelve months registered unemployment has decreased 278,954 people, bringing th…
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Spanish Registered unemployment low in July at 29,841 people
