After wild swings at midweek (October 15), the US dollar spent the last two sessions of the week consolidating. While we expect the Federal Reserve will not be distracted by the recent market turmoil, or the softening of some market-based measures of inflation expectations, and will announce the…
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More Thoughts about the Price Action
The dramas on the global markets were sparked by problems created in Europe’s single currency bloc , explains Liam Halligan, but big-time euro-QE is not the answer. ‘It sounds far-fetched, I know,” I wrote in this column in December 2007. “But the ultimate victim of this subprime crisis could be…
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Panic money-printing won’t save the eurozone
September sales of existing homes likely rose 1.1% to a 5.11 million unit annual rate. Existing home sales in September likely rose after an unexpected 1.8% drop in August. Pending home sales (applying to signed contracts on existing homes that have not yet closed) fell in August but were strong in…
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N. America Week Ahead: BoC Meeting, US CPI, -Housing
The US dollar was on the back foot against most currencies as volatility spiked and big moves provided opportunity and risk. US housing and inflation data, A rate decision in Canada and UK GDP are the lead events on our FX calendar. Here is an outlook on the major events for this week. Weak US re…
Eurozone flash manufacturing PMI is expected to fall to 50.5 in October (from 51 in September) dragged by the anticipated drop in both German and French indexes. However, the flash index in the services sector is expected to increase to 52.6 from a previous 52.4. Improvements in the French services…
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Europe Week Ahead: EZ-, German-, French PMI, French INSEE, UK GDP, -BoE Minutes
On the evening of May 6, a man carrying a shotgun approached a black Lancia Voyager pulling out of a hospital parking lot in Nice, France. Raising the weapon, he fired through the front passenger window and hit Helene Pastor, the richest woman in Monaco, in the chest, neck and jaw. Another shot hit…
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Monaco Murders Reveal Six Hidden Real Estate Billionaires
A big week ahead in the markets, where the emergence of an unexpected correction has seen volatility return with a bang. The focus within the US markets will be geared towards the CPI release in the wake of the disinflationary worries that have dominated affairs in recent weeks. Meanwhile the UK GDP…
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Weekly market preview – 20 October 2014
Positives: 1. Initial jobless claims came in at 264k, their lowest numbers since 2000. 2. Gasoline prices fell to their lowest levels since 2011. 3. Russell 2000 actually finished up 2.8% on the week. 4. U of M consumer confidence came in at 86.4, the best since 2007. 5. Housing starts rose t…
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Succinct Summation of Week’s Events 10.17.14
Morgan Stanley picks EUR/CAD as its technical FX chart of the week where MS is looking for selling opportunities. On the 10-year EUR/CAD Chart: “EUR/CAD has developed a medium-term bearish pattern, suggesting a move below the 1.2129 low traded in 2012. We are looking for selling opportunit…
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Morgan Stanley Technical FX Chart Of The Week
Moody’s Investors Service has today downgraded the government of Russia’s debt rating by one notch to Baa2 from Baa1. The short-term rating is affirmed at Prime-2 (P-2). The outlook on the rating remains negative. The key drivers for the downgrade and for maintaining the negative outlook are the …
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Moody’s Downgrades Russia’s Ratings to Baa2; Outlook Negative
US Federal Reserve chair Janet Yellen said that she was “greatly concerned” about rising inequality in the US. “I think it is appropriate to ask whether is compatible with values rooted in our nation’s history,” she said in a speech in Boston on Friday. Some worried the speech politicised the…
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Janet Yellen warns on growing inequality in the US
The adjustment in the direction to increase significantly in the mid-20% base from 12% a measure of operating ratio in the domestic stock Government Pension Investment Fund, which holds a public pension of about 130 trillion yen (GPIF) entered. Be determined by the operational committee to discuss…
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Substantial Increase In Base Public Pension Investment To Mid-20%
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Traders in Financial Futures – Options and Futures Combined Positions as of October 14, 2014
This week was going according to plan around the globe until the release of the US Retail Sales numbers came in. A worse than expected –0.3% growth in September spooked the market into believing that the US economy could be as fragile as the rest of the globe. Asian stock markets were hit as…
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Week in FX Asia – JPY Thriving on Market Turmoil
Inflation expectations have been falling for months, and that has some people worried. They say that the Federal Reserve should raise those expectations, which would bring real interest rates down and encourage people and businesses to spend money. I’m not going to pass judgment here on whether the…
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The Fed’s Inflation Jedi Mind Trick
The roots of the recent stock market selloff look very familiar to investment newsletter writer Tom McClellan, and that’s making him very bullish. By definition, that’s what chart watchers do — they use history as a guide for the future. They believe that while no two market environments are ide…
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The deja-vu selloff is reaching a ‘crisis bottom’: McClellan
China flinched again. The country’s central bank will inject $32 billion into the country’s banking system, according to the Wall Street Journal. The capital will go to 2o major and regional banks. This is what the government refers to as “targeted easing”, but many analysts say that these sma…
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China Flinched
St. Louis Federal Reserve President James Bullard is an interesting figure at the U.S. central bank. He isn’t shy about taking out-of-consensus positions among Fed officials. At times this has made him look quite prescient. In the summer of 2010, for example, he openly expressed concerns about U.S….
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Hard to See Fed Following Bullard’s Lead
Do you, as fund managers and traders, trade The Close? Do you target The Close? Do you trade in the last 10 minutes of the day? If so, then this morning note is for you. While Modern Markets has lately been quite active defending high frequency trading by orchestrating television appearances for …
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Athena – Goddess of War on the Close
According to official hard data, gross domestic product (GDP) in Britain managed to pick up sharply between the first and second quarters. While output in the first three months of this year was revised down to 0.7%, second-quarter growth accelerated to 0.9%, and economists expect growth to keep its…
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UK Economy Hit by Global Headwinds as BoE Stays in Wait-and-See Mode
