Fresh dollar positive developments have not materialized. Moody’s did not downgrade France before the weekend. ECB’s Visco played down the need for additional stimulus after last week’s disappointing TLTRO. Iwata, formerly at the BOJ, cautioned against continued yen declines, suggesting that the…
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Dollar Slips Marginally, Dollar-Bloc Remains Heavy, Market Awaits Fresh Push
BREAKING
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Bundesbank: Fewer July school holidays lifted production, opposite expected August
The slowdown in China and a tighter federal budget will pull Australia’s growth down to as low as 2 per cent next year, prompting interest rate cuts and a 20 per cent slump in the value of the Australian dollar, a prestigious global forecaster says. Roubini Global Economics, founded by renowned U…
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‘Dr Doom’ Nouriel Roubini’s firm warns of 20% Australian dollar slump
I did say to expect a few stops on AUDUSD below 0.8900 and boy have we seen some, also taking out the bids at 0.8885 to now post 0.8866 in a rush after the lack of any rally through 0.8910. More bids here at 0.8865 and 0.8850 but the downward pressure is notable so far this session. AUD pairs all…
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Aussie $ pops 0.8900 and gets another slap lower
After experiencing a series of ups and downs since the end of a recession in mid-2009, the U.S. economy appears poised for a smoother ride in the year ahead. Or does it? The signals, as usual, are mixed. Manufacturers are surging amid strong demand for autos and airplanes. And surveys of consu…
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Smooth path for US economy remains elusive
Asia’s developing nations may have to sacrifice some growth next year and focus on keeping their economies stable amid potential fallout from higher U.S. interest rates, Indonesian Finance Minister Chatib Basri said. Capital outflows are a threat facing emerging markets as the prospect of the Fe…
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Asia May Need to Sacrifice Growth to Cope With Fed: Basri
The following are the intraday outlooks for USD Index, EUR/USD, USD/JPY, USD/CAD, and Spot Silver as provided by the technical strategy team at SEB Group. USD INDEX (DXY): Not much room left to rise. The overextended (261,8% of wave 1 instead of the more common 161.8%) wave 3 advance is now nea…
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Intraday Outlooks For DXY, EUR/USD, USD/JPY, USD/CAD, Silver – SEB
Scotland’s rejection of independence and a lack of any fireworks at a Fed meeting last week have calmed investors enough to shift the focus back to what some call the “Great Stagnation”, and how to avoid it. The Group of 20 leading nations, meeting at the weekend, said they were tantalizingly cl…
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Relief over Scotland gives way to ‘Great Stagnation’ worries
The Royal Mint is encouraging the public to become gold investors with the launch of an online bullion trading service that lets people buy and sell gold coins and store them in the Mint’s vaults, guarded 24 hours a day by the Ministry of Defence. From today, the Mint’s vault service will allow a…
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UK Royal Mint launches online dealing account … in gold
Today’s flash estimate of the European Union’s measure of consumer sentiment will set the tone this week for thinking about risk in the Eurozone. We’ll also see a pair of economic reports for the US – the Chicago Fed National Activity Index and existing home sales – that will likely support the…
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3 Numbers: No rocket under US growth, EU confidence, US home sales
While everyone debates if the Fed will, once again, be wrong in its forecasts about a rate hike cycle starting some time in mid-2015 (spoiler alert: it will be), we decided to take a look in the other direction. The chart below shows the key global events that have influenced monetary policy for…
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150 Years Of Global Monetary Policy
Unless something big starts to change soon, Italy is on course for the mother and father of a sovereign default. No country epitomises the European economic malaise better than Italy. People often say that Italy cannot get into trouble because it is so rich. It is. Rich in natural beauty and his…
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The solution to Italy’s woes is quite simple – leave the euro
After a Federal Reserve statement and press conference that may have provided more questions than answers, and produced oddly divergent reactions in the stock and bond markets, investors will look to this week’s heavy docket of Fed speakers to provide clarity about the future of monetary policy. But…
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Fed heads may ease Wall Street confusion this week
The dollar hovered near a two-year high against a basket of currencies on Monday, underpinned by expectations the U.S. Federal Reserve will start its rate-tightening cycle sooner than expected. The dollar index, a gauge of the greenback’s strength against a basket of major currencies, was at 84.6…
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Dollar well bid on Fed outlook, no G20 reprieve for yen
A Deutsche Bank foreign exchange trader has been sacked and is under investigation by Australian regulators for inflating trades and costing the investment bank up to $5 million in losses, Fairfax Media can reveal. …
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Deutsche Bank fires rogue forex trader in Australia
The people shown on the photo below, also known as “the people in charge”… … have a warning for the algos. First, a step back. Two months ago, none other than Janet Yellen warned that a bubble is forming in some equity sectors, namely biotechs and social media when the Fed said that “valu…
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The People On This Photo Have A Warning For The Market: There Is "A Build Up Of Excessive Risk"
In the last few days to finish out last week the Australian dollar found some much needed support at 0.8950 and rallied back up to just shy of the key 0.90 level before easing lower again. The Australian dollar has seen its sharpest fall in over 12 months as it fell down to a six month low near 0…
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AUD/USD – Trying to Stay in Touch with Key 0.90 Level
Bank of Canada Governor Stephen Poloz said there’s no reason to believe a recent jump in the nation’s inflation rate will persist given excess capacity in the economy. The rise largely refects one-off increases such as the effects of a weaker Canadian dollar, Poloz told reporters in Cairns, Austr…
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Poloz Says Canada’s Inflation Rise Considered Temporary, One-Off
The week ahead is sandwiched between last week, which featured an FOMC meeting, the launching a new four-year funding scheme by the ECB and the Scottish referendum, and the week after that sees an ECB meeting and details about the ABS/covered bond purchase program, and the US monthly jobs report. …
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Thinking about the Week Ahead
The size of an enhanced capital buffer that the world’s top 29 banks could be around 16 percent, and will be disclosed at the G20 leaders’ summit in November, European Central Bank Governing Council member Christian Noyer said on Sunday. Under plans being drawn up by global regulators, major glob…
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ECB’s Noyer: capital buffer for top banks could be around 16 percent
