As Europe’s central bankers gather in Naples to discuss the state of the region’s economy, the city stands as a stark warning of just how bad things can get. “If there’s a periphery of the euro zone’s periphery, that’s Naples,” said economist Riccardo Realfonzo, a former councilman of the Southe…
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Draghi Takes ECB to Land of Gomorrah as Naples Prays
A new month and a new quarter should not be capable of changing things up too much. Both forex volume and volatility are not expected to ease off anytime soon as a hint of rate divergence brings with it a lot more opportunities. Hitting the half-way mark of a busy week, one notices that Euro bourses…
Some banks and other financial firms have begun moving staff to back-up premises on the outskirts of Hong Kong to prevent growing unrest in the financial hub from disrupting trading and other critical functions, two business services firms said. Thousands of pro-democracy protesters have blocked …
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Some financial firms moving to back-up sites amid Hong Kong protest fears
The fact that the SNB say they haven’t been into the market selling francs doesn’t mean that they haven’t been getting someone else to do the dirty work. The jungle drums are saying that they’re on the bid again at 1.2050 (as we heard a couple of weeks ago). Take it for what you will. EUR/CHF …
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Chatter that the SNB is unofficially on the bid at 1.2050 again
Italy’s government cut its growth forecast for this year and next and pushed back its structural balanced-budget target by one year as the economy remains in a recession. “The economic outlook has greatly deteriorated,” Finance Minister Pier Carlo Padoan said at a press conference in Rome as he …
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Italy Cuts Growth Forecasts, Delays Balanced-Budget Target
European Central Bank President Mario Draghi is set to push the ECB to buy junk-rated Greek and Cypriot bank loans, a move that may increase tensions between Germany and the bank, the Financial Times reported. The central bank’s executive board will propose that current requirements on the quali…
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Mario Draghi to push ECB to buy Greek, Cypriot ‘junk’ loans
Manufacturing growth in the euro zone slowed further in September as new orders contracted for the first time in over a year on dwindling demand at home and from abroad, a business survey showed on Wednesday. Factories also cut prices last month for the first time since April, while preliminary d…
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Euro zone manufacturing growth slows again as inflation fades
U.K. manufacturing grew at the slowest pace in 17 months in September as growth in new orders almost stalled. Markit Economics said its Purchasing Managers’ Index fell to 51.6 from 52.2 in August, the lowest since April 2013. A measure of new orders dropped to a 19-month low of 50.5, close to th…
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U.K. Factory Growth Weakens as Euro-Area Slump Curbs Demand
Growth of the UK manufacturing sector slowed further in September, as companies reported weaker increases in production, new business and new export orders. Price pressures were also relatively muted, as output charge inflation slowed further and input costs fell for the first time in five mon…
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UK manufacturing PMI at 17-month low
Switzerland’s manufacturing output index fell to its lowest level in nearly a year-and-a-half, data showed Wednesday, indicating demand for the Alpine country’s industrial goods is waning as growth slows in Europe, its main export market. The Swiss Purchasing Managers’ Index slipped to 50.4 po…
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Swiss Factory Output Index Falls in September
The eurozone manufacturing sector slowed closer to stagnation in September, as inflows of new orders contracted for the first time since June 2013. Input costs and selling prices were both lower than in August. The final seasonally adjusted Markit Eurozone Manufacturing PMI® fell to a 14-month…
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Eurozone manufacturing edges closer to stagnation
The final seasonally adjusted Markit/BME Germany Manufacturing Purchasing Managers’ Index ® (PMI ® ) – a single – figure snapshot of the performance of the manufacturing economy – slipped below the neutral 50.0 threshold in September. At 49.9, down from 51.4 in August, the headline …
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German manufacturing stagnates in September as PMI drops to 15 – month low
The following are the intraday outlooks for EUR/USD, USD/JPY, USD/CAD, and AUD/NZD as provided by the technical strategy team at SEB Group. EUR/USD: A buyers’ response, but is it enough? Trend-following tools remain deep in bearish gears, so sell into fading rallies remains a main theme. Condit…
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Intraday Outlooks For EUR/USD, USD/JPY, USD/CAD, AUD/NZD – SEB
Business conditions in Italy’s manufacturing sector improved sli ghtly in September, with goods producers raising both output and employment levels during the month. However, progress was limited somewhat by a slowdown in the rate of growth of new orders. Data on the price front meanwhile hig…
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Italian PMI ticks up, points to slight improvement in manufacturing business conditions
France is unveiling its 2015 budget right now and it’s not making pretty reading, confirming that Paris will not get its budget deficit down to the EU limit of three percent of GDP until 2017, years after it should have done. The health minister has said the welfare deficit is expected to run nea…
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French budget to fire EU growth debate
Solid improvements in the Spanish manufacturing sector were recorded again at the end of the third quarter of 2014, although rates of growth have eased from earlier in the year. Higher new orders led to another expansion of output and further job creation. Input prices decreased for the first t…
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Spain: Tenth successive monthly rise in output
4.3% in 2015; 3.8% in 2016; 2.8% in 2017; Latest forecasts from the French govt budget statement just hitting the wires; total public deficit to hit 97.2% of GDP in 2015; 98.0 % in 2016; 97.3% in 2017; inflation forecast +0.5% 2014 ,+0.9% 2015, +1.4% 2016, +1.75% 2…
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French budget deficit to GDP ratio to be 4.4% in 2014
Stock orders amounting to more than the size of Sweden’s economy were canceled in Japan today, with an industry regulator saying it received a report about a trading error. At 9:25 a.m. Tokyo time, orders for shares in 42 companies totaling 67.78 trillion yen ($617 billion) were canceled, accord…
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$617 Billion in Japan Stock Orders Scrapped After Error
Preliminary estimates for September indicate that the index declined by 2.4 per cent (on a monthly average basis) in SDR terms, after rising by 0.2 per cent in August (revised). The largest contributor to the decline in September was the price of iron ore. The base metals and rural commodities…
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RBA Index of Commodity Prices: Sep 2014
The fourth quarter kicks off with another busy day for economic news, including a fresh look at manufacturing in Britain via Markit’s Purchasing Managers’ Index (PMI). Later, a pair of US numbers will draw attention ahead of Friday’s payrolls release. First up is the ADP Employment Report, follo…
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3 Numbers: Mixed signals for UK manufacturing, US jobs, US ISM Index
