Category Archives: Forex

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Fed’s Bullard: still sees first rate tightening at end of Q1 2015 – says premature to remove considerable time

GBP/CAD was predominantly stuck in a range for all of last week, confirming a lower boundary at 1.7814 and the previous pivot resistance of 1.8100/25. The pair now appears ready to jump even higher, toward 1.8230 and maybe up to 1.8320. With the Canadian Dollar losing momentum against a basket of…

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GBP/CAD Jumps Higher Post Canadian Retail Sales

Judy Joo is missing Playboy. The Morgan Stanley trader-turned-chef has quit the London club to open a restaurant and recalls the fun she had over three years, cooking for celebrities from Justin Bieber to Kate Moss. “Talk about a massive fun factor with the brand, and the stories I walked aw…

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Former Trader Quits Playboy Club to Open Own Restaurant

U.S. house prices rose in July, up 0.1 percent on a seasonally adjusted basis from the previous month, according to the Federal Housing Finance Agency (FHFA) monthly House Price Index (HPI). The previously reported 0.4 percent increase in June was revised to reflect a 0.3 percent increase. The F…

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FHFA House Price Index Rises in July

Following six consecutive monthly gains, retail sales paused in July, edging down 0.1% to $42.5 billion. Sales declined in 5 of 11 subsectors, representing 55% of retail trade. In volume terms, retail sales were flat in July. Following six consecutive monthly gains, retail sales paused in …

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Canada Retail trade, July 2014

The United States and Arab allies bombed Syria for the first time on Tuesday, killing dozens of Islamic State fighters and members of a separate al Qaeda-linked group, pursuing a campaign against militants into a war at the heart of the Middle East. “I can confirm that U.S. military and partner …

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U.S., backed by Arabs, launches first strikes on fighters in Syria

A difficult start to the week has curbed the bulls on Wall Street, after indications from China are that monetary policy stimulus would not be knee jerk to disappointing data. This resulted in a decline on the S&P 500 by 0.8% as the index fell back below 2000 once again. The Asian markets reacted…

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Signs of a dollar correction against both the yen and sterling

Risk trading strategies found some temporary relief overnight, at least before the Euro session opened from the world’s second largest economy – China. It has reversed some of yesterday’s market negativity that followed the weekend comments made by China’s Finance Minister not amending economic…

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ECB’s Headache Now a Migraine After PMI’s

While strong activity in the auto sector is expected to ensure a positive reading of July headline retail sales, weakness in other categories is likely to translate into a decline of the index excluding autos, pointing to a slowdown in consumer spending in the third quarter. Analysts’ forecasts i…

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Canada Preview: Ex-Auto Retail Sales to Point to Slower Q3

After a year of prominent hackings of millions of US credit and debit cards, one of the top regulators regulators of the American financial system has said that the prospect of an “Armageddon-type cyber event” is one of the most significant issues he plans to address in the next year. New York S…

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US regulator raises alarm for ‘Armageddon-type’ cyber attack

The Obama administration took action Monday to discourage corporations from moving their headquarters abroad to avoid U.S. taxes, announcing new rules designed to make such transactions significantly less profitable. The rules, which take effect immediately, will not block the practice, and Treas…

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Obama hits at US companies moving overseas to avoid taxes

Euro zone business activity has expanded at a slightly weaker pace than expected in September as firms cut prices for the 30th month in a row, a survey showed on Tuesday. The data will dishearten the European Central Bank, which is struggling to spur growth and revive inflation rooted way below i…

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Euro zone business growth slows in September as prices keep sliding

U.K. mortgage approvals declined unexpectedly in August, data from British Bankers’ Association, or BBA, revealed Tuesday. The number of mortgage approvals fell to 41,588 in August from 42,715 in July. Economists had expected the number of approvals to rise to 42,913. Meanwhile, gross mortgage…

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U.K Mortgage Approvals Fall Unexpectedly In August

Britain’s public finances continued to deteriorate in August after a weak start to the financial year, posing a challenge for Chancellor George Osborne as next year’s national election approaches. The Office for National Statistics said public sector net borrowing, excluding state-controlled bank…

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UK August public finances show further slippage, income tax weak

This release provides the first estimate of August 2014 public sector finances and is the first bulletin published using the European System of Accounts 2010 (ESA 2010) and the new ‘excluding public sector banks’ measures. …

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UK Public Sector Finances, August 2014

Euro area business activity grew in September at the lowest rate seen so far this year, according to the preliminary ‘flash’ PMI survey data. At 52.3, down from 52.5 in August, t he Markit Eurozo ne PMI™ Composite Output Index fell for a second month running, dropping to its lowest since …

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PMI signals further waning of eurozone growth in September

Sao Paulo’s most expensive real estate got even pricier this year, surging 10 percent as wealthy buyers in search of safe neighborhoods ignored Brazil’s recession, according to one of the city’s biggest brokerage boutiques. Apartments in high-end communities such as Vila Nova Conceicao are sellin…

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Sao Paulo’s Luxury Neighborhoods Ignore Brazil Recession

The following are the intraday outlooks for EUR/USD, USD/CAD, AUD/NZD, and GBP/USD as provided by the technical strategy team at SEB Group. EUR/USD: Still looks ripe for an attempt higher. Short-term conditions remain stretched and price action less aggressive to the downside which in combinati…

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Intraday Outlooks For EUR/USD, USD/CAD, AUD/NZD, GBP/USD – SEB

September data signalled a continuation of the ongoing expansion in German private sector output, as highlighted by t he seasonally adjust ed Markit Flash Germany Composite Output Index r ising slightly from 5 3. 7 in August to 5 4.0 . The current period of growth now stretches to …

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German Private sector growth maintained in September, but manufacturing edges closer to stagnation

The latest flash PMI data indicated a fifth consecutive monthly decline in French private sector output during September. At 49.1, down from 49.5 in August, the seasonally adjusted Markit Flash France Composite Output Index , based on around 85% of normal monthly survey replies, w…

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French private sector output falls further in September