It’s been an encouraging 24 hours for British economic policy makers. But the recent run of strong growth figures flatters the economy’s post-crisis performance, and understates the distance that still has to be covered until the recovery is complete. For a fourth straight update, the Internation…
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U.K. Recovery Flattered by Population Growth
Channel 10 TV reports that the Israeli cabinet has decided to refuse US Secretary of State John Kerry’s ceasefire plan
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Israeli cabinet has decided to refuse ceasefire plan
The Fed is still pumping liquidity into the banking system, albeit at diminished rates, and the large cap indices are still showing no signs of trouble, with the DJIA making higher highs and higher lows. But when price indices make higher highs and the NYSE’s A-D Line refuses to confirm, that co…
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A-D Line Divergence Again
Alan C. Greenberg, a risk-chasing Wall Street titan who built Bear Stearns into a global investment-banking powerhouse and presided over its collapse as America slid toward a calamitous recession in 2008, died on Friday in Manhattan. He was 86. The cause was complications of cancer, his son, Theo…
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Alan C. Greenberg Is Dead at 86; Led Bear Stearns Through Its Rise and Fall
The NZD/USD is attempting to take out a bullish trend line that has been in place since February. The Kiwi has weakened quite sharply in recent days after the RBNZ intervened verbally against the currency’s appreciation and delivered what appears to be the last rate hike for a long time on Wednesday…
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NZD/USD attempting to break bullish trend
That’s the fastest move USD/CAD has made without any news in a month. USD/CAD quickly up to 1.0814 from 1.0788. The May low at 1.0817 is the next level of resistance as risk appetite begins to roll over.
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USD/CAD breaks 1.08 as stops busted
Regular readers know I enjoy discussing behavioral aspects of investing. The reasons for this are twofold: First, we can’t control the markets, but we can control our own reactions to it (at least we can try). And second, many studies have shown that investors suffer from a behavior gap between what…
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Your Mind, Your Investment Returns
Inflation risks in the world economy could be ratcheting up, despite the winding down of the US Federal Reserve’s quantitative easing programme posing a new dilemma for central banks, which could have a considerable impact on forex markets. A resurgence of inflation would hit GBP and USD, but wou…
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Bubbling Inflation Risks Could Create new Dilemmas
A European Central Bank paper has weighed in on a big debate among economists in recent years: how much of an effect fiscal belt-tightening has on the economy. The paper was written by a pair of economists–one from the ECB and one from the International Monetary Fund–and concludes that fiscal con…
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ECB Paper Identifies Most Growth-Friendly Cuts
Reserve Bank of New Zealand Governor Graeme Wheeler is upping the ante in his campaign against the local dollar’s world-beating gains. New Zealand’s kiwi tumbled the most in 11 months yesterday after Wheeler said in his policy statement that its strength was “unjustified” and that he’ll wait befo…
The business climate became more subdued in the manufacturing industry and even more so in the building industry and trade. Conversely, the economic climate picked up in the business-related services sector. This trend, the reverse of that observed in June, is mainly attributable to revised dema…
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Belgian Business confidence weakens in July
Orders for U.S. business equipment rose in June following a revised drop the prior month, indicating corporate investment remains stop-and-go and could hold back economic growth. Bookings for non-military capital goods excluding aircraft climbed 1.4 percent after a 1.2 percent decrease in May tha…
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Orders for U.S. Capital Goods Rose in June After Revised Drop
The dynamics and setting of safe-havens among G10 currencies have changed, argued Morgan Stanley in a note to clients. The following are the key points in MS’ note. EUR Not a Safe Haven: “The prospect of additional sanctions against Russia is also a potential negative factor for the EUR, i…
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EUR Not A Safe-Haven; GBP Is The New CHF – Morgan Stanley
Home sales in New York’s Hamptons, the Long Island vacation locale popular among financiers and celebrities, climbed in the second quarter as more inventory became available for buyers. Purchases increased 3.7 percent from a year earlier to 700 homes, according to a report today by appraiser Mil…
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Hamptons Home Sales Rise as Buyers Find More Inventory
The US dollar is posting modest across the board gains as the week winds down, but the latest upticks look vulnerable in the North American session. The euro has held above yesterday’s lows. Sterling made a marginal new low but is finding bids ahead of support near $1.6950. The dollar’s upside…
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Dollar’s Latest Upticks Look Vulnerable
Argentina refused to hold face-to-face negotiations with holdout creditors yesterday to avert a possible default on July 30, court-appointed mediator Daniel Pollack said. Argentine government officials and representatives from holdout creditors including Elliott Management Corp. will return to P…
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Argentina Refuses Direct Talks With Holdout Bondholders
There is a slightly cautious mood that is taking over financial markets as we move into the final day of the week. This comes despite the fact that Wall Street just managed to claw out yet another all-time closing high last night as the S&P 500 edges ever closer to the magical 2000 level. However…
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Gold approaching a key crossroads in the support band $1280/$1290
BREAKING
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Russian central bank raises key rate to 8.00%
The decline in lending to households and firms in the euro zone slowed slightly in June, and money supply grew as the European Central Bank’s new stimulus measures find their way through the system. In an unprecedented move, the ECB started in June charging banks to keep their deposits overnight…
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Euro zone private sector loans contract further in June
Britain’s economy is finally bigger than it was before the financial crisis struck six years ago, official data showed on Friday. Gross domestic product expanded by 0.8 percent in the April-June period, the same strong pace as in the first three months of the year and in line with forecasts…
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UK economy recovers output lost to crisis, grows +0.8 pct in Q2
