Asian stocks shrugged off a drop in Wall Street and hovered near three-year highs on Monday, with China taking the lead after data showed a robust jump in profits earned by industrial firms in the world’s second-largest economy. The dollar traded near six-months peaks against a basket of major …
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China shares lead Asia higher, dollar buoyed
The light-hearted “Big Mac” index is showing New Zealand’s dollar is massively over-valued against several major currencies. Invented by The Economist in 1986, the Big Mac Index is based on the price of a Big Mac McDonald’s burger in each country. While not to be taken too seriously, it does h…
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Kiwi dollar gets super-sized
In the winter of 2008, the Federal Reserve began an unprecedented campaign to combat the economic downturn. The mix of policy instruments included a near zero federal funds rate, explicit communication regarding the forward path of the funds rate, and a balance sheet that ballooned to more than $4…
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Financial stability and monetary policy
Is the economy at last turning? The Chinese government’s policies to rebalance the economy seem to be bearing some fruit at last. The latest economic data published by the National Bureau of Statistics on July 16 suggest China is moving to a more service-based economy that is less reliant on expo…
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China’s economy heading in the right direction
The Australian dollar is trading in a small range just below 0.9400 after reaching a three week high just shy of 0.9480 towards the end of last week. During the middle of last week it enjoyed a solid period which saw it surge higher through the resistance level at 0.9425 to the three week around 0…
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AUD/USD – Retreats to Familiar Territory Under 0.9425
The Australian dollar is trading in a small range just below 0.9400 after reaching a three week high just shy of 0.9480 towards the end of last week. During the middle of last week it enjoyed a solid period which saw it surge higher through the resistance level at 0.9425 to the three week around 0…
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AUD/USD – Retreats to Familiar Territory Under 0.9425
Workers must be willing to move interstate and overseas to where they are needed, according to key members of the Business Council of Australia. The push is one of a suite of priorities to be outlined by BCA president Catherine Livingstone on Monday in her first major speech. Ms Livingstone wi…
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Australian workers should be willing to move for jobs
Workers must be willing to move interstate and overseas to where they are needed, according to key members of the Business Council of Australia. The push is one of a suite of priorities to be outlined by BCA president Catherine Livingstone on Monday in her first major speech. Ms Livingstone wi…
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Australian workers should be willing to move for jobs
Here’s the thing – stocks get all the headlines but it seems even as the S&P 500 made a new all time high last week there is still a level of disquiet growing in the big macro markets of bonds and currencies . As the screenshot from Bloomberg of the US 10 year rate shows there is a real chance of…
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Stocks lower, bonds rally and the US dollar is looking strong – times a changing
Here’s the thing – stocks get all the headlines but it seems even as the S&P 500 made a new all time high last week there is still a level of disquiet growing in the big macro markets of bonds and currencies . As the screenshot from Bloomberg of the US 10 year rate shows there is a real chance of…
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Stocks lower, bonds rally and the US dollar is looking strong – times a changing
When you think about the typical Wall Street trader, you probably picture a fast-talking Wolf of Wall Street type. But guess what? They are rapidly being replaced by “quants” — soft-spoken super nerds armed with high-tech software to help them beat the market. Elie Galam is one of them. …
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Math nerds are taking over Wall Street
When you think about the typical Wall Street trader, you probably picture a fast-talking Wolf of Wall Street type. But guess what? They are rapidly being replaced by “quants” — soft-spoken super nerds armed with high-tech software to help them beat the market. Elie Galam is one of them. …
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Math nerds are taking over Wall Street
The Federal Open Market Committee (FOMC) meets on Tuesday and Wednesday of this coming week, and it is almost certain that the FOMC will announce a reduction in monthly asset purchases by another $10 billion per month, from $35 billion to $25 billion. The FOMC statement will be released at 2:00 PM…
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FOMC Preview: More Tapering
Could the dollar lose its status as the key international currency for international trade and international financial transactions, and if so, what would be the principal contributing factors? Speculation about this issue has long been abundant, and views diverse. After the introduction of the euro…
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Why is financial stability essential for key currencies in the international monetary system?
The People’s Bank of China and the central bank of Luxembourg have signed a memorandum of understanding, a step towards designating a renminbi clearing bank in Luxembourg, Grand Duchy authorities said on Sunday. “The MoU aims to establish a cooperation between the two institutions in terms of ove…
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China and Luxembourg prepare for currency clearing deal
Silver and gold resumed their downward trend during most of last week. The recovery of the USD against leading currencies may have contributed to the decline of precious metals. The lack of growth in the U.S equities and the drop in U.S home sales didn’t pull up by much bullion prices by the end of…
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Gold and Silver Forecast for July 28-August 1
Silver and gold resumed their downward trend during most of last week. The recovery of the USD against leading currencies may have contributed to the decline of precious metals. The lack of growth in the U.S equities and the drop in U.S home sales didn’t pull up by much bullion prices by the end of…
ECB Vice President Vitor Constancio said in Bangkok over the weekend that the aggressive easing measures taken by the European Central Bank last month should address the problem to too-low inflation in the euro zone, and signalled that that additional measures are unlikely in the near term. “…
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ECB Vice President Constancio: ECB’s aggressive easing measures should address too-low inflation problem
ECB Vice President Vitor Constancio said in Bangkok over the weekend that the aggressive easing measures taken by the European Central Bank last month should address the problem to too-low inflation in the euro zone, and signalled that that additional measures are unlikely in the near term. “…
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ECB Vice President Constancio: ECB’s aggressive easing measures should address too-low inflation problem
The European Central Bank supports Germany’s Bundesbank in its appeals for higher wage deals in Germany, Der Spiegel magazine quoted ECB Chief Economist Peter Praet as saying on Sunday. Low wage agreements were needed in some crisis-hit countries in the euro zone to bolster competitiveness, the m…
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ECB backs Bundesbank call for higher German wages – Der Spiegel
