The U.S. economy looks better able to withstand the hit from a stronger dollar and weaker global growth than the stock market did last week. Foreign sales last year accounted for 46.3 percent of revenues for companies in the Standard & Poor’s 500 Index in 2013, leaving them prone to a rising gre…
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U.S. Economy Set to Shrug Off Wall Street Growth Worries
As reported by the Federal Statistical Office (Destatis), the selling prices in wholesale trade decreased by 0.9% in September 2014 from the corresponding month of the preceding year. In August 2014 and in July 2014 the annual rates of change were –0.6% and –0.7%, respectively. From August 2014 to…
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German Wholesale prices in September 2014: –0.9% on September 2013
Mario Draghi and Jens Weidmann are clashing anew over how much more stimulus the ailing euro-area economy needs from the European Central Bank. As Europe’s woes again proved the chief concern at weekend meetings of the International Monetary Fund in Washington, President Draghi repeated he’s read…
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Draghi Weidmann Fight Intensifies as ECB Debates Action
Monday’s an unusually quiet day for scheduled economic releases, which provides an opportunity to focus on three of the major currency pairs. The general theme, of course, has been dollar strength in recent months. The rise has been fueled by concerns of a slowdown in global growth ex-US and a…
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3 Numbers: Dollar on strongest run since 1971, USDJPY, GBPUSD
Since Beijing’s new leader ship took office early last year, it has been juggling stabilizing economic growth and pushing reforms. The task has never looked more challenging than now, as the economy looks set to slow further and expectations for reform are building up. The country’s economy proba…
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Early Look: China’s Growth Likely Slowed in Third Quarter
The extended period of monetary accommodation and the accompanying search for yield are leading to credit mispricing and asset price pressures, increasing the chance that financial stability risks could derail the recovery. …
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"Prepare For Runs", IMF Warns Policymakers Of "Elevated Financial Stability & Liquidity Risks"
Gold climbed to the highest level in almost four weeks as concern that global growth is slowing stoked bets the U.S. Federal Reserve may push back interest-rate increases, boosting demand for a store of wealth. Gold for immediate delivery advanced as much as 1 percent to $1,235.01 an ounce, the h…
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Gold Advances to Four-Week High on Haven Demand as Silver Rises
One of France’s largest banks is teaming up with social network Twitter Inc. (TWTR.N) this week to allow its customers to transfer money via tweets. The move by Groupe BPCE , France’s second largest bank by customers, coincides with Twitter’s own push into the world of online payments as the soc…
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French bank, Twitter team up for money transfers via tweets
China’s exports (CNFREXPY) rose more than estimated in September and imports rebounded as global demand helps underpin growth in the world’s second-largest economy. Exports increased 15.3 percent from a year earlier, the Beijing-based customs administration said today, compared with the 12 percen…
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China’s Exports Rise to Support Economy Amid Property Downturn
For the last few weeks Gold has enjoyed solid support at $1215 after falling strongly a couple of weeks ago from $1240 to just below $1215, however a couple of weeks ago it dropped to its lowest level in 2014 near $1180. In the last week since however gold has rallied higher and returned to back…
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Gold – Despite Strong Downtrend, Does Well to Rally to $1230
Investors following tactical strategies should consider selling EUR/GBP this week and also looking to sell GBP/USD on upticks, advises Barclays Capital in its weekly FX pick to clients. “We expect the UK economy to grow modestly into the year-end and think that the market is pricing in too much…
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Barclays’ Trades Of The Week: Sell EUR/GBP & Look To Sell Cable On Upticks
Roger Dean Gillispie, a former General Motors security guard, spent 20 years in an Ohio prison for rape until a federal court ordered him released in 2011. Now he wants to sue GM for allegedly helping to frame him, and he’s getting support from an unlikely source: hedge funds. Gillispie, who is w…
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In GM bankruptcy, an ex-con and hedge funds find common ground
REINZ, the most up to date source of real estate data in New Zealand, announced today that there were 5,911 dwelling sales in the month of September, down 12.0% on September 2013 but up 7.8% compared to August. The national median price was $420,000 for the month of September, an increase of $20,000…
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NZ September real estate market moves on from election
It has been a horrific couple of days for NZDJPY, with the pair being hit from both sides by kiwi weakness and yen strength. As my colleague Fawad Razaqzada pointed out at the end of last week the pair is looking very weak from a long-term technical perspective and it may be heading towards last…
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NZDJPY: eyes on the RBNZ
USDJPY has opened up a little weaker this morning, below 107.50 for the first time in 3 weeks as markets around the world prepare for what could be an ugly week’s trade on stock markets. USDJPY looks like it is headed to 105 low maybe lower – for that to happen it would suggest that stocks really…
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Look out below – Yen opening stronger as stocks go into a funk
Late into Friday’s major market selloff, a completely unfounded rumor emerged out of nowhere, seeking to rekindle the BTFD spirits, that with central bank intervention from both the BOJ and ECB already priced in, and with the Fed still in taper mode (if not for much longer should the S&P dump…
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China Central Bank Crushes Hopes For A "Large-Scale Fiscal Or Monetary Stimulus"
Food prices fell 0.8 percent in September 2014, following a 0.3 percent rise in August and a 0.7 percent fall in July. Fruit and vegetable prices fell 6.5 percent, influenced by seasonally lower prices for vegetables (down 11 percent). Prices fell for lettuce, tomatoes, cucumber, and capsicums. T…
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New Zealand Food Price Index: September 2014
German Finance Minister Wolfgang Schaeuble put on a brave face at the end of IMF meetings in Washington this weekend, dismissing suggestions that Berlin had come under pressure to shift its economic course as “spin doctoring”. But the reality is that Germany hasn’t looked this isolated over its …
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Germany on defensive as criticism of economic course mounts
A stronger U.S. dollar is an obstacle to the Federal Reserve’s ability to meet its inflation mandate and will impede growth, Charles Evans, the president of the Chicago Fed, said on Saturday. “It’s a headwind,” Evans told reporters after giving a speech on the sidelines of the International Monet…
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Fed’s Evans: Stronger dollar is a headwind
The underlying theme in the foreign exchange market is the divergence between the US and UK on one hand and the euro area and Japan on the other. That divergence, however, may not explain the developments in the other capital markets. The US S&P 500 and the Dow Jones Stoxx 600 in Europe recorded…
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The Dollar and the Investment Climate
