The US dollar had another good week, rising against all the major currencies. The strength of the US employment report, especially in the context of disappointing eurozone and UK PMI data, ensured that the consolidative phase was short-lived. After dropping nearly two big figures, the dollar…
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Dollar Bulls Ahead
John Lewis, the retailer regularly voted the UK’s best by customers, has a pretty friendly brand. Its mutual business model is regularly praised as one for the entire country to copy. So you might have expected, after being awarded the status of one of the world’s best retailers in Paris this wee…
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France Is ‘Finished’ Says UK’s Best Retailer
After an exceptional increase in July (1.9% MoM) German industrial activity will likely fall sharply in August. We expect a decline of 1.5% MoM, pushing down the annual growth rate to -0.5% YoY from +2.4%. Data provided by the Association of the Automotive Industry (VDA) also showed that the…
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Europe Week Ahead: BoE, UK IP, German IP, French IP, Italian IP, Spanish IP
The US dollar did experience a correction, but this did not last too long and it eventually ended the first week of Q4 with gains across the board. Rate decisions in Japan and the UK, employment data in Australia and Canada and the FOMC Meeting Minutes are the major market movers on FX calendar week…
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Forex Weekly Outlook October 6-10
Succinct Summation of Week’s Events: Positives: 1) US economy added 248k net new jobs in September; two prior months were revised up by a total of 69k. 2) Unemployment rate falls two tenths unexpectedly to 5.9%, the lowest since July ’08. Average weekly hours ticks up to 34.6, the most…
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Succinct Summation of Week’s Events 10.3.14
TABLES
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Traders in Financial Futures – Options and Futures Combined Positions as of September 30, 2014
The further one digs into today’s “blockbuster” jobs report, the uglier it gets. Because it is not only the participation rate collapse, the slide in average earnings, but, topping it all off, we just learned that the future of the US workforce is bleak. In fact, with the age of the median employed…
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"Hiring Grandparents Only": 230K September Jobs Added In 55-69 Age Group; 10K Lost In Prime, 25-54 Group
When the Japanese yen began its long descent in late 2012 — around the time it became clear Shinzo Abe would be elected to another prime-ministership — the executives running Japan’s top corporations seemed to believe that the lower the currency, the better, regardless of all else. But since then…
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Japan Inc. begins to turn against the weak yen
There is a natural tendency in markets and the news media to accompany every monthly set of U.S. employment data with its own suspenseful narrative. This time around, the story line focused on whether the jobs report would endorse or refute the prior month’s disappointing numbers. New job creation,…
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The Missing Trio in Today’s Jobs Report
Activist investors are cool. They make billions of dollars and fight on television. They attack big companies with more ferocity than a cheating dieter attacks a piece of cake. And they make great presentations. So, if you are jonesing to be the next Carl Icahn or Bill Ackman, here’s a guide to c…
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How to give an awesome activist investor presentation
Leaders of a pro-democracy student group in Hong Kong have postponed talks with the government after demonstrators were involved in scuffles with opponents. The group said the government was failing to protect protesters. Their supporters are angry at plans by China to vet election candidates …
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Hong Kong protests: Student leaders call off talks
Here is an analysis of the latest jobs data and how it might influence the thinking of Federal Reserve officials considering the outlook for interest rates. The U.S. jobless rate, at 5.9% in September, was already where Fed officials recently projected it would be by year end. Moreover payroll em…
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Hilsenrath: Jobs Report Keeps Early Rate Hike On Table, Tough Communication Decision For Fed
Service industries grew in September, capping the strongest quarter of expansion in more than 10 years for the biggest part of the U.S. economy. While the Institute for Supply Management’s non-manufacturing index fell to 58.6 from the prior month’s 59.6, the third-quarter average was the highest…
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Services Industries Growth in U.S. Caps Best Quarter Since 2004
NMI® at 58.6%. Economic activity in the non-manufacturing sector grew in September for the 56th consecutive month, say the nation’s purchasing and supply executives in the latest Non-Manufacturing ISM® Report On Business®. The report was issued today by Anthony Nieves, CPSM, C.P.M., CFPM, chair …
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September 2014 Non-Manufacturing ISM Report On Business
Global investors are starting to cut back on stock market positions, wary of a wave of financial market turbulence in the final quarter of 2014 as the era of cheap money ends. The tide turned abruptly this week with the close of the third quarter and major stock markets have lurched down at the …
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Investors batten down hatches for volatile end to 2014
September data highlighted a continued strong upturn in U.S. service sector business activity, despite the pace of expansion easing slightly since August to its least marked for four months. Meanwhile, new business volumes rose at a sharp and accelerated pace, which contributed to the fastest…
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Strong rise in US service sector activity during September
NFP Surprises with a 248K reading …
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NFP and the Reactions in EUR/USD, GBP/USD and USD/JPY
BREAKING
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Catalan govt says it intends to hold independence vote on Nov 9
The U.S. jobless rate declined to a six-year low of 5.9 percent in September and employers in the U.S. added more workers than projected, signs of more vigor in the labor market that will help sustain faster economic growth. The 248,000 gain in payrolls followed a 180,000 August increase that wa…
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Jobless Rate in U.S. Falls to 5.9% in September, Payrolls Jump
Canada’s merchandise imports rose 3.9% in August, while exports decreased 2.5%. As a result, Canada’s trade balance with the world went from a surplus of $2.2 billion in July to a deficit of $610 million in August. Imports rose to a record high $44.8 billion, led by metal and non-metallic mineral…
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Canadian international merchandise trade, August2014
