If you’re a driver, a shipper or an airline, low oil prices sure feel nice. But there are downsides to the recent plunge in oil prices – for the oil industry and for the economy. …
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Why drop in oil prices has downsides for US economy
The NAB Business Survey and its sub-indices is arguably the most important economic release each month because of the breadth of the economy it covers. So the release of this month’s survey showing a fall in both business confidence (+5) and business conditions (+1) is worrying. Indeed the fall i…
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NAB: Australian Business Confidence Is At Its Lowest Level Since The Election
It’s been a tough few weeks for the stock market. Over the last three months, each of the major averages has lost ground, and as of Friday’s close, the Dow turned negative for the year. Additionally, the Federal Reserve is set to wind down its quantitative easing program at end of the month, aft…
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JPMorgan’s Complete Guide To Everything Happening In The Markets
The last month has not been an enjoyable time for the Australian dollar as it endured a strong decline moving from close to 0.94 down to below 0.8650 and an eight month low in the process. For the last couple of weeks it has taken a breather mainly between 0.87 and 0.88. Even though it has met…
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AUD/USD – Resistance at 0.88 Plays a Role Again
At the close the Dow was 223 points lower for a fall of 1.35% closing at 16,321. The Nasdaq was down 1.46% and the S&P 500 dropped 31 points or 1.63% to 1,875. Futures, which are about a 10 point discount to the physical look biased to 1,800. In Europe stocks closed when the US markets were doing…
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Stocks crash into the close, USDJPY under 107 and heading to 105
Financial markets have been quiet, maybe too quiet, for much of this year. Of course, in saying this it increases the likelihood of it ending sooner rather than later! Indeed, since drafting this speech, the VIX has risen to its highest level since February. …
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Debelle: Volatility and Market Pricing
The eurozone’s finance ministers began making last-ditch efforts on Monday to avoid a clash with France, which must formally submit its budget for scrutiny by the European Union authorities by the middle of the week. The French government recently announced a “no austerity” budget for 2015, sayin…
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E.U. and France on Collision Course Over Budget
U.S. stocks sank, erasing earlier gains and capping the worst three-day loss for the Standard & Poor’s 500 Index since 2011, as investors weighed prospects for slowing global growth and the spread of Ebola. Halliburton Co., Dow Chemical Co. and Merck & Co. (MCK) lost at least 4.3 percent to pace …
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S&P 500 Slides to Cap Worst Three-Day Drop Since 2011
107 has broken in USD/JPY, EUR/USD up through 1.2700 also. ‘Bout time we got some movement in (very) early Asia. USD/JPY:
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107 cracks in USD/JPY, and 1.2700 in EUR/USD
A new report shows that four out of five purchases in Sweden are paid for electronically or by card. The Local reports Swedes are using electronic payments 260 times per person, per year. Electronic payments systems such as Swish are bypassing the need for people to use ATMs for cash, while at st…
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Sweden Is Going To Be The First Country In The World Completely Free Of Cash
A new report produced by the TUC claims that we’re in the middle of the worst pay squeeze since the 1860s, with real wages falling for the seventh year in a row. Not the best time for another report, by Incomes Data Services, to show that FTSE 100 directors have received a bumper 21 per cent pay…
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Yes, CEOs are ludicrously overpaid. And yes, it’s getting worse
Loretta Mester joined the Fed’s policy-making committee in June when she was named president of the Federal Reserve Bank of Cleveland. It was a short trip in one sense. In her previous job, as research director of the Federal Reserve Bank of Philadelphia, she sat behind the bank’s president, Charles…
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Q. and A. With Loretta Mester: Optimism at the Fed
Many participants seem confused. Despite the talk about the dollar by different Fed officials, dollar policy is set by the US Treasury. Secretary Lew has been clear. First he reiterated the 20-year old mantra of a strong dollar being in US interest. Despite the polemical tactics to reduce this c…
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What is the US Position about the Dollar’s Strength?
Saudi Arabia is quietly telling the oil market it would be comfortable with much lower oil prices for an extended period, a sharp shift in policy that may be aimed at slowing the expansion of rival producers including those in the U.S. shale patch. Some OPEC members including Venezuela are clamor…
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Saudis tell oil market: get used to lower prices
Key Takeaways •German Wholesale Price Index, released Monday morning, in line with consensus at 0.1%; •Euro fell down to 135.5 against the Yen on Monday morning before bouncing back above 136; •EUR/JPY is going to hover in this area until Tuesday, when weak German and Euro data might spark anothe…
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EUR/JPY Sell-off Pauses As Support Holds
Wall Street appeared set to post tentative gains on Monday, shaking off last week’s tough sell-off just as a flood of major earnings reports will give traders much fodder to chew on. Trade volumes will likely be low, due to the U.S. celebrating Columbus Day holiday. The Securities Industry and Fi…
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Wall Street seen quiet for Columbus Day holiday
Currency watchers have decreed that the euro will fall sharply against the dollar as Europe and the United States’ monetary policies diverge, but history suggests the euro’s drop may not be quite so smooth or rapid. Frankfurt has started to pump cheap money into the euro zone to try to get banks …
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Euro’s demise exaggerated, old lessons show
The USDJPY has fallen below trend line support connecting recent highs. That level comes at the 107.63 this week. The price is trading in the middle of the trading range for the day of 107.05 and 107.56. Looking at the weekly chart below the next major support comes at the 105.576 level. This level…
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USDJPY stays below trend line resistance in quiet start to the week
The USDJPY has fallen below trend line support connecting recent highs. That level comes at the 107.63 this week. The price is trading in the middle of the trading range for the day of 107.05 and 107.56. Looking at the weekly chart below the next major support comes at the 105.576 level. This level…
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USDJPY stays below trend line resistance in quiet start to the week
Jean Tirole, a French economist, won the 2014 Nobel in economic science on Monday for his work on the best way to regulate large, powerful firms in industries including banking and communications. The Royal Swedish Academy of Sciences said that Mr. Tirole, 61, had helped governments tame such fir…
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Jean Tirole of France Wins Nobel Prize in Economics
