What a volatile few days it has been for the FTSE! At end of last week, the UK index staged a relief rally as the market priced in and then reacted to news of a No vote for Scottish independence. That rally quickly came to a halt on Friday at around the key 6890/6900 resistance area, leading to an…
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FTSE down on Tesco and as Scottish jubilations fade; key support being tested
Barclays will be hit by the latest in a string of financial penalties this week when the City regulator hands out a £38m fine for failing to ensure adequate protection for clients’ funds. Sky News has learnt that the Financial Conduct Authority (FCA) is to announce as soon as Tuesday that Barclay…
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Barclays Hit By £38m Fine Over Client Assets
Interest rates may have to be about one-and-a-half percentage points lower than they have been historically in order for the Canadian economy to operate at full capacity, a senior Bank of Canada official said on Monday. The central bank estimated that the neutral rate of interest, or the rate at …
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Bank of Canada deputy gov. says rates may have to be lower than past
Is the exchange rate the main factor determining a nation’s export growth? The recent experience of a weakening yen suggests the currency effect on exports–at least in Japan’s case–may be much more limited than previously assumed. The failure of Japan’s exports to log significant growth despite t…
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Japan Needs Global Growth to Boost Exports Says OECD Official
The ubiquitous MetaTrader 4 platform has been sidelined by US retail FX giant IBFX following its offloading of MetaTrader client base to FXCM. The trading platform of choice for the future at IBFX is its proprietary TradeStation. To venture to suggest that corporate competition within the retail …
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IBFX is all about TradeStation now
Good afternoon. Thank you for inviting me. I’m delighted to be here today with this group of accomplished investment professionals. What I will speak about today intertwines your professional world with mine. Let me start with what we’ve all observed: the recovery from the global financial crisis…
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Wilkins: Monetary Policy and the Underwhelming Recovery
Hedge fund pioneer Julian Robertson has bad news for those who fear bubbles: There are at least two brewing in the markets now. The Tiger Management founder believes that even though “the economy is getting better,” there are dangers brewing beneath the surface. “The first bubble is that bonds…
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Julian Robertson sees TWO bubbles brewing
Charles I. Plosser, president and chief executive officer of the Federal Reserve Bank of Philadelphia, today announced that he will retire, effective March 1, 2015. President Plosser has served as the 10th president of the Philadelphia Fed since August 1, 2006. “For more than eight years, I have …
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Philadelphia Fed President Plosser to Retire on March 1, 2015
• GBP/USD recovery above the 1.6500 handle has faltered. Failure to rally above key resistance at 1.6644 (see also the 200 day moving average) signals a period of sideways trading. Hourly supports can be found at 1.6345 (intraday low) and 1.6247 (18/09/2014 low). • In the longer term, the collaps…
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GBP/USD- Post-Scotland referendum bounce fades
The European Central Bank will actively manage its balance sheet and is able to implement more stimulus if required to stave off the threat of deflation in the euro area, ECB President Mario Draghi said. “With the purchasing programs, we are starting a transition from a monetary-policy framework…
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Draghi Says More ECB Action Possible as Outlook Down
Bill Dudley, president of the New York Fed, is speaking at the Bloomberg Markets Most Influential Summit. Dudley said that to hawks on FOMC, he said that the Fed has a dual mandate, and that monetary does work with a lag: “you wouldn’t put all your weight on inflation side just as you wouldn’t pu…
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Dudley: Don’t Pay Too Much Attention To The Dot Plot
Purchases of previously owned U.S. homes unexpectedly declined in August for the first time in five months as investors retreated from the market. Existing home sales dropped 1.8 percent to a 5.05 million annual pace, from a revised 5.14 million pace in July, the National Association of Realtors…
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Sales of Previously Owned U.S. Homes Drop as Investors Retreat
After four consecutive months of gains, existing-home sales slipped in August as investors paying in cash retreated from the market, according to the National Association of Realtors®. Sales increases in the Northeast and Midwest were outweighed by declines in the South and West. Total existing-h…
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Existing-Home Sales Slightly Lose Momentum in August as Investor Activity Declines
Those long lines at Apple Stores around the world translated into record iPhone 6 and iPhone 6 Plus sales over the weekend. Ten million to be exact. That beat last year’s iPhone 5S opening weekend by 1 million sales. The achievement is remarkable, considering that China wasn’t a part of this y…
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Apple sells 10 million iPhone 6 and iPhone 6 Pluses
Mister Chairman, Honourable Members of the Economic and Monetary Affairs Committee, Ladies and Gentlemen, This hearing today takes place at a moment of change for the ECB. On 4 November, the ECB will become the banking supervisor for the euro area, including the direct supervision of 120 la…
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Draghi: Introductory remarks at the EP’s Economic and Monetary Affairs Committee
The number of housing completions has more than halved since the 1970s. Here are three reasons why Britain must build more houses. Britain’s chronic housing shortage has been highlighted in an official report that lays bare the extent of the decline in UK housebuilding. The report, published …
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Three reasons why Britain’s housing market is broken
The Bank of Japan must make a new commitment quickly to meet its 2 percent inflation target because achieving that goal by next spring will be difficult, a senior official at the Organization for Economic Cooperation and Development said on Monday. OECD Acting Chief Economist Rintaro Tamaki, spe…
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OECD says BOJ inflation goal hard to meet, needs new commitment
Next Stop for AUD/USD: 2014-Low …
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AUD/USD Breaks Below 0.89, Exposing the 2014-Low at 0.8660
Alibaba’s monster IPO means his net worth has rocketed to $26.5 billion, according to Bloomberg data, after shares jumped 38 per cent from its initial listing price of $68 per share, closing the day at $93.89 on Friday. But the former English teacher, and now China’s richest man, insisted money w…
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Alibaba’s Jack Ma hits jackpot, reveals he’s big Forrest Gump fan
Mario Draghi’s stimulus pledge didn’t convince investors for long. Exactly one month since the European Central Bank president told his global peers he was ready to act to avert deflation in the euro area, bets on consumer prices have collapsed. Even after surprise interest-rate cuts and an asse…
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Draghi Effect Subsides as Pressure Builds on ECB Chief
