he market’s attention to the European Central Bank’s stress test has naturally focused on the health of banks on the Continent. But the central bank also laid out a grim scenario for world trade in the publication released Sunday. The ECB said it paid “particular attention” to shipping exposur…
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The hidden warning over world trade in the ECB’s stress tests
Generally, the real interest rates are negatively correlated with the gold price, i.e. the rising interest rates adversely impact the yellow metal. Based on this adverse relationship between real interest rates and price of gold, Elfenbein built a model for the price of gold. According to it,…
Bank of Japan (BOJ) Governor Kuroda speaking in the Japanese Parliament: Japan’s economy is showing some weakness mainly in output but positive cycle remain intact. Job, income conditions improving steadily. Private consumption solid as a trend with non-durable goods sales emerging from sales tax…
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BOJ Governor Kuroda: Japan’s economy is showing some weakness
The Federal Reserve’s main policy decision this week comes down to a handful of key words that offer a sense of how much longer central bank officials intend to keep short-term interest rates near zero. Fed policy makers meeting Tuesday and Wednesday are likely to debate whether to keep the langu…
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Fed Touchy About Touching Rate Guidance
Finance Minister Mathias Cormann said the rate of fuel duty will increase from 38.143c per litre to 38.6c per litre from November 10 …
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Australia government set to hike fuel tax from November 10
The gap between China’s reported exports to Hong Kong and the territory’s imports from the mainland widened in September to the most this year, suggesting fake export-invoicing is again inflating China’s trade data. China recorded $1.56 of exports to Hong Kong last month for every $1 in imports H…
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China Fake Invoice Evidence Mounts as HK Figures Diverge
Japan’s retail sales rose at their fastest pace since the first quarter in September as investors began to shake off the effect of a consumption tax hike. Retail sales rose 2.3 percent on year in September, above expectations for 0.6 percent rise in a Reuters poll and up from a 1.2 percent rise i…
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Japan September retail sales rise at fastest pace since Q1
Electric vehicle maker Tesla will soon deliver its cars to Australian roads. This promises to change both the type of cars we drive and potentially the way we buy them. Tesla remains a relative oddity in the US auto market. It is on target to sell around 35,000 cars in 2014, in comparison to GM’s…
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When Tesla takes hold in Australia, your car dealer won’t like it
Poor old negative gearing, carrying the can for perceived housing affordability problems, fitted out as a convenient scapegoat, so much easier to blame it than to deal with the myriad factors bearing on housing supply and demand. The ability to offset losses on one investment against income made …
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Negative gearing is not so negative
“A triathlon is a multiple-stage competition involving the completion of three, continuous, and sequential endurance disciplines. While many variations of the sport exist, triathlon, in its most popular form, involves swimming, cycling, and running in immediate succession over various distances.” -…
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Why Trading is Like a Triathlon
The USD index (DXY) dropped down to test the top of its old range; highs from Jul. ‘12 to Jul. ‘13 at 84.53-10 and the fact that it held this level well as support (mainly on a weekly close basis) indicates that bullish momentum is still very much intact, notes Goldman Sachs. “Fom a wave perspe…
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DXY, EUR/USD: Is USD On The Edge Of A Big Move? – Goldman Sachs
The euro recovered lost ground in limited trade on Monday, boosted by weaker-than-expected U.S. housing data that softened a blow to the currency from news that German business morale fell. FOREX-Euro up on U.S. data but stymied by German business sentiment Mon Oct 27, 2014 4:02pm EDT 0 Commen…
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Euro up on U.S. data but stymied by German business sentiment
In a commentary for Marketwatch just over two months ago, I predicted that the U.S. stock faced at least a 20% correction. The signals now point to a 30% downturn. This recent market volatility VIX, +5.52% is just the beginning. The declines that corrected prices more than 10% in both the Russe…
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3 reasons why you should expect a 30% market meltdown
Moves to boost the U.S. housing market could fuel the next credit bubble, warned Alan Schwartz, the former head of Bear Stearns, which collapsed during the 2008 subprime mortgage crisis. Earlier this month, the U.S. Federal Housing Finance Agency announced plans to return to allowing Americans to…
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Cheap mortgages could fuel credit bubble: Ex-Bear Stearns CEO
Ray Dalio’s $160 billion hedge fund behemoth Bridgewater Associates is suing two former employees for allegedly “lying to the market about their former roles” while marketing their new hedge fund to investors, according to a complaint filed last week in US District Court for the Southern District of…
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Bridgewater Is Suing 2 Ex-Employees For Allegedly Lying About Their Roles While Marketing Their New Hedge Fund
Europe’s banking health check has shown countries and lenders are implementing global capital rules at vastly different speeds, and 36 firms would have failed if new capital rules were fully applied. The euro zone is lagging behind countries outside the bloc in implementing the Basel III capital …
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Under full capital rules, 36 EU banks would have flunked test
It is a real pleasure to be giving my first speech as Deputy Governor of the Bank of England at the London School of Economics (LSE). It resonates on so many fronts. The LSE has produced many members of the Monetary Policy Committee, Deputy Governors and indeed Governors of the Bank of England…
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Shafik: Making markets fair and effective
Is £1.7 billion ($2.7 billion) a lot of money for the British government to fork out? It is when it is a European Union budget demand that comes out of the blue. But the impact of the EU’s unexpected budget invoice is not just financial, for it has arrived at a time when the anti-EU, United Kingdom…
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Britain’s Last EU Straw?
France and the European Commission are moving closer to a compromise ahead of a Wednesday deadline for the Commission to determine if Paris is in “serious non-compliance” with budget rules. While President Francois Hollande told journalists at the EU summit on Friday that “we have done what we ha…
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France Moving Closer To Compromise With Brussels on Budget
Foreign-exchange traders’ messages on Facebook Inc. (FB) are being sought by European Union antitrust regulators as they expand a probe into alleged collusion between banks beyond work e-mails and instant messages, two people with knowledge of the case said. Banks have been asked to supply all co…
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FX Traders’ Facebook Chats Said to Be Sought in EU Probe
