Janet Yellen looks to be taking one page out of Alan Greenspan’s playbook while tearing up another as she plots monetary strategy for 2015 and beyond. The Federal Reserve chair and her colleagues signaled this month they would be willing to push unemployment below its so-called natural rate — a…
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Yellen Aims to Mimic Greenspan on Jobs, Avoid Misfire on Bubbles
Pensioners will be able to leave more of their money to the next generation from next April, George Osborne is to announce at the Tory conference. The chancellor will abolish a 55% tax that currently applies to untouched “defined contribution” pension pots left by those aged 75 or over, and to pe…
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George Osborne to cut 55% pension ‘death tax’
The weak Eurozone economy will be in focus again today, with the release of the European Commission’s monthly data on business sentiment, along with revised numbers that track the mood among consumers. Later, we’ll see a couple of US releases: personal consumption spending and income, and an…
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3 Numbers: Eurozone business gloom deepens, US spending, US home sales
The European Central Bank will this week unveil details of its plan to save the eurozone from economic stagnation by buying hundreds of billions of euros-worth of private-sector assets. But one of the most crucial questions surrounding the purchases of bundles of loans, known as asset-backed…
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Political reticence blunts ECB’s asset purchase plan
The estimated annual CPI inflation September 2014 is the – 0, 2 %, According to the leading indicator produced by the INE. This indicator provides a preview of the CPI, if confirmed, would be a increase of three tenths in the annual rate since in the month of August thi…
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Spain: The leading indicator CPI annual variation stood at -0.2% in September
Selling Cakewalk hasn’t been quite as easy as her name would suggest. The 86-meter luxury super-yacht with six sundecks, a baby grand Steinway & Sons piano and vast Italian marble his- and-hers’ bathrooms has been on the market for three years. To ease the task, her sellers gave her pride of pla…
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Luxury-Yacht Sellers Cut Prices on Multimillion Dollar Toys
plus higher fuel prices and adverse weather; PM Abe stating the berleedin’ obvious; wants to achieve summit with Chinese leader at early stage;
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Japan’s Abe says they need to keep a cautious watch on impact of sales tax hike
New Zealand’s dollar was set for its biggest three-day drop since 2011 after the Reserve Bank said its sales of the currency in August were the most in seven years. The greenback headed for its best month since 2012 The kiwi dropped against all 31 major counterparts as Prime Minister John Key wa…
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Kiwi Plunges as Much as 2% on RBNZ Sale; Dollar Climbs on Month
Speech by Governor Kuroda at a Meeting Held by the International Bankers Association of Japan, titled The Role of Foreign Financial Institutions in Japan’s Financial System; Some comments pertinent to the economy and policy: Has been some weakness in exports and industrial production; …
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BOJ’s Kuroda speech: Japan’s economy is expected to continue its moderate recovery trend
This week contains some key economic releases out of the US that will impact on the US dollar one way or the other. Meanwhile it is a light calendar for data in Australia and New Zealand. Traders interested in AUD and NZD can take the USD out of the equation by taking a position in the NZDAUD cross….
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Guilt by association takes Aussie down with the Kiwi
Mario Draghi’s strategy for reviving the euro area looks like devaluation. While the European Central Bank president says the exchange rate isn’t a policy target, officials aren’t secretive about their approval of the currency’s 9 percent slide. The depreciation increases the cost of imports and …
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Draghi Devaluing Euro Cheers ECB as Inflation Seen Fading
The dollar hit a four-year peak against a basket of currencies in early Asian trade on Monday, bolstering Japanese shares, but other Asian shares shrugged off Friday’s Wall Street rebound in the face of political unrest in Hong Kong. MSCI’s broadest index of Asia-Pacific shares outside Japan drop…
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Dollar hits four-year high, Asian stocks on edge as HK seethes
THE gaudy pachinko parlours that disfigure many a Japanese high street are an acquired taste. The country’s 12,000 parlours keep players sealed off from the outside world behind a thick wall of noise, smoke and gambler’s tension. The pinball-with-prizes machines, with their flashing lights and…
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A $175 Billion Industry In Japan Is On It Way Out
During the month of August, net New Zealand dollars sold by the RBNZ stood at -521 million NZ Dollars, indicating a significant intervention given the relatively limited fire-power from the RBNZ.
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RBNZ intervened quite aggressively in August
Prime Minister John Key has indicated he thought the New Zealand dollar’s fair falue was around 65 USc and that it would be logical for the Reserve Bank to intervene to push the New Zealand dollar lower, given it was currently well above where it was fundamentally fairly valued. Key made the comm…
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Key says ‘Goldilocks’ level for NZ$ around 65 USc
For more than a week now Gold has thoroughly enjoyed support at $1215 after falling strongly a couple of weeks ago from $1240 to just below $1215. The next obvious level of potential support remains at $1200 which is a long term key level. If gold was to fail at this level, then it is likely the…
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Gold – $1215 Level Continues to Assist
Last week’s saw tooth pattern was a worry to me as much as the bg ranges we are starting to see in USDJPY and the weakness in AUDUSD. It all looks a bit wobbly to me. Of course regular readers know I have held the “stability leads to instability” view for a while now. But it looks like my theory …
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US Dollar strengthens amid stocks rally – But markets remain on tenterhooks
Hong Kong investors prepared for a stock-market retreat and made arrangements to work outside the financial district amid the biggest police crackdown on protesters since the city returned to Chinese rule. The benchmark Hang Seng Index (HSI) will probably open “sharply” lower, according to Kingst…
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Hong Kong Traders Brace for Selloff on Protest Crackdown
The Australian dollar continues to sag, as AUD/USD lost close to 200 points last week. The upcoming week promises to busy, with three major events on the calendar – Retail Sales, Building Approvals and Trade Balance. Here is an outlook on the major market-movers and an updated technical analysis for…
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AUD/USD Forecast Sep. 29-Oct. 3
With Treasuries threatening to resume their bear trend, USD/JPY looks set to resume its larger bull trend, says Bank of America Merrill Lynch. “Indeed, we are impressed by the manner in which the pair has held its ground as equities have sold off last week. Another break of 109.36 confirms a re…
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Bullish USD/JPY, Bearish Gold: Levels & Targets – BofA Merrill
