Growth in China’s services sector slipped to a six-month low in July as new orders rose at their weakest rate in at least a year, data showed, taking some of the shine off an industry that has been a bright spot in the Chinese economy this year. The official Purchasing Managers’ Index (PMI) for t…
See the rest here:
China July official services PMI dips to six-month low
The current strong pound is starting to bite into the profits of corporate Britain. Aircraft-engine maker Rolls-Royce, defence group BAE Systems, and contract caterer Compass were among the heavyweights who lined up last week to say that adverse currency movements were wiping millions off their…
Read more here:
‘If you want a strong pound, it has to be for the right reasons’
After the Federal Reserve maintained its path towards raising U.S. interest rates next year, other major central banks will jostle for space on a crowded stage this week. The European Central Bank, Bank of Japan, Bank of England and the central banks of India and Australia all hold meetings. Whil…
See the original post:
Central bank meetings to set stage for parting of ways
we knew it was only a matter of time. Sure enough, following Friday’s record collapse in the stock price of Portugal’s mega bank after even Goldman decided it had enough and pulled the plug on an equity investment it had made just three short weeks earlier (apparently with zero Due Diligence)…
More:
Portugal’s Insolvent Banco Espirito Santo To Be Bailed Out, Existing Equity To Be Wiped Out
The US dollar had looked like it was finally finding traction. The euro was at its lowest level since last November. Sterling, which had been a market darling, was pushed through its 100-day moving average for the first time since last August, falling about 2.25% since mid-July. The dollar pushed…
The rest is here:
Pause in US Dollar Rally
EUR/USD had another negative week, surrendering to the greenback’s strength but recovering quite nicely at the end of the week. The highlight of the week is clearly the ECB decision. Will Draghi try to push the euro even lower? In addition, we have more PMIs and some German data. Here is an outlook…
Read more:
EUR/USD Forecast August 4-8
Wall Street firms led by Goldman Sachs Group Inc (GS.N) are close to buying a stake in chat and instant messaging startup Perzo Inc in pursuit of an alternative to a similar application from Bloomberg LP, sources familiar with Goldman’s plans said. Banks are trying to cut costs as sluggish tradin…
Originally posted here:
Goldman group set to buy message system as alternative to Bloomberg
Wall Street firms led by Goldman Sachs Group Inc (GS.N) are close to buying a stake in chat and instant messaging startup Perzo Inc in pursuit of an alternative to a similar application from Bloomberg LP, sources familiar with Goldman’s plans said. Banks are trying to cut costs as sluggish tradin…
Original post:
Goldman group set to buy message system as alternative to Bloomberg
Portuguese government bonds fell for the first week since July 11 as financial turmoil deepened at Banco Espirito Santo SA and a selloff in stocks damped demand for higher-yielding assets. Italian securities also declined with equities this week as Argentina missed a deadline to pay interest to …
Read the original:
Portuguese Bonds Drop With Italy’s as Global Turmoil Halts Rally
So much for the “Russia is becoming increasingly isolated” meme that the West would like many to believe. As Russia continues to sign de-dollarization deals and trade agreements with its BRICS allies while pushing ahead with retaliatory actions against the US and Europe, it appears the ‘sanctioned’…
More here:
Russian Oligarchs Wave Goodbye To Visa, Switch To Chinese Credit Card
The ISM non-manufacturing survey likely moved a touch higher to 56.2 in July. Service-sector surveys have improved since last month, indicating a higher pace of growth in services activity. The Richmond Fed survey jumped 6 points to a reading of 12, with improvements in both the retail and non…
See original here:
US Week Ahead: ISM, Trade Balance, Factory Orders, Nonfarm Productivity
A fairly busy week ahead in the markets, where a particularly interesting week for the US gives way to a more UK and global focus. As such, the US will only have the likes of the trade balance figure to look forward to. Conversely, the UK markets will be having a wide range of economic announcements…
Read the original post:
Weekly market preview – 4 August 2014
Not only should the ECB stay pat at its August meeting, but in all likelihood there will be no change in terms of the assessment of economic conditions and no clearer hints on further policy action at this stage. Eurozone inflation reached a new record low at 0.4% YoY in July, thereby surprising…
Original post:
Europe Week Ahead: ECB, BoE, German IP, French IP, UK IP, Spanish IP, -PMI, Italian IP, -PMI
The US dollar was the star during most of the week, although it lost some of its shine towards the end. Rate decisions in Australia, the UK, Japan and the Eurozone, Employment data, in Australia, Canada and US trade data are some of the highlight events on Forex calendar. Here is an outlook on the…
Continued here:
Forex Weekly Outlook August 4-8
One of the big debates over the Federal Reserve’s extraordinary stimulus policies focuses on wages: Some would like to see them growing faster, while others worry that raises could trigger an inflationary spiral. Whatever your perspective, the latest data from the Labor Department don’t show much…
See more here:
So Where Are Those Raises?
The Labor Department will release its productivity and costs report Friday. Typically, the productivity number generates all the buzz. But with the Fed focused on wage growth, the compensation and unit labor costs data might nudge productivity aside. Unlike the monthly average wage data in the em…
BREAKING
Excerpt from:
Greece raised two levels to Caa1 by Moody’s, outlook stable
It looks like it, it feels like it, and for the sake of forex investors everywhere, it seems the market is finally trying to price in the long-awaited USD rally. Currency and CFD (contract for difference) trading is on the rise as a result of the action; a variable that has been amiss since central…
Excerpt from:
Week in FX Americas – Does Friday’s NFP Change the Landscape?
Based on an WardsAuto estimate, light vehicle sales were at a 16.4 million SAAR in July. That is up 5% from July 2013, and down 2.5% from the 16.9 million annual sales rate last month. This was below the consensus forecast of 16.7 million SAAR (seasonally adjusted annual rate). This graph shows …
Go here to read the rest:
U.S. Light Vehicle Sales decline to 16.4 million annual rate in July
The American economy has always relied on disruptive upstart entrepreneurs challenging established older firms. However, over the last twenty years, it turns out that the established companies have been on the rise. A new study by Ian Hathaway of consulting firm Ennsyte Economics and Robert Litan…
View original post here:
Old American Companies Are Dominating At The Expense Of Entrepreneurs
