On the eve of Scotland’s historic referendum, opinion polls on Wednesday showed support for staying within the United Kingdom marginally stronger than backing for independence, but tens of thousands of undecided citizens agonized over which way to vote. Leaders and supporters of both sides took …
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Scots’ support for independence lags on eve of referendum
The treasurer and the Reserve Bank made somewhat contradictory comments on the housing market on Tuesday. Joe Hockey argued that talk of a housing bubble was “lazy analysis”, while the minutes of the RBA’s monthly monetary policy meeting made frequent mention of the recent housing price rises and…
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Hockey’s ‘lazy analysis’ may be the suggestion Australian house prices won’t fall
Here’s what to look for when the Federal Open Market Committee releases its policy statement and new economic projections at 2 p.m. today in Washington and Federal Reserve Chair Janet Yellen holds a press conference at 2:30 p.m. — Still “considerable”? It’s shaping up as a close call. Thirty-tw…
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Fed Decision Day Guide: Considerable Debate on Forward Guidance
BREAKING
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Germany Sells 0.00 Pct, 2-yr Schatz, Avg Yield -0.07 Pct (pvs 0 Pct)
Swiss economic expectations in September turned negative for the first time since January last year as financial analysts grow increasingly pessimistic about the impact of the geopolitical tensions on growth in the eurozone, the Alpine country’s key export market. A survey by the ZEW Institute an…
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Swiss Economic Expectations Turn Negative in September
Euro zone inflation in August was higher than initially estimated, revised data from the European Union’s statistics office showed on Wednesday, because prices of services grew more than expected. Consumer inflation in the 18 countries sharing the euro rose 0.1 percent month-on-month in August f…
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Euro zone inflation revised up to 0.4 percent in August
Euro area1 annual inflation was 0.4% in August 20142, unchanged compared to July. In August 2013 the rate was 1.3%. Monthly inflation was 0.1% in August 2014. European Union1 annual inflation was 0.5% in August 2014, unchanged compared to July. A year earlier the rate was 1.5%. Monthly inflation …
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Euro area annual inflation stable at 0.4%
Two Bank of England policymakers again voted to raise interest this month, leaving the central bank divided for a second successive month, but the rest of their colleagues remained firmly against tighter policy. Minutes of the BoE Monetary Policy Committee’s Sept. 3-4 meeting released on We…
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Two Bank of England officials back rate rise, others firmly against – minutes
U.K. unemployment has fallen to the lowest in six years, indicating continued strength in the labor market that Bank of England Governor Mark Carney says will eventually boost earnings. The jobless rate based on International Labor Organisation methods fell to 6.2 percent in the three months thr…
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U.K. Unemployment Rate Drops More Than Forecast to Six-Year Low
•Comparing the estimates for May to July 2014 with those for February to April 2014, employment continued to rise and unemployment continued to fall. These changes continue the general direction of movement since late 2011/early 2012. …
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UK Labour Market, September 2014
Talking Points: -Building the large view -Finding the low-hanging fruit -Know when you’re view is wrong “The Golden Rule of Habit Change: You can’t extinguish a bad habit, you can only change it.” ― Charles Duhigg, The Power of Habit: Why We Do What We Do in Life and …
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How To Find FX Trades with a Larger View of the Global Economy
Scotland’s chance to vote for independence has lit hopes in other regions of Britain that a reworking of political ties might boost their chances of self-rule too. London-based parliamentarians have been wrong-footed by a late surge of support among Scottish voters planning to say ‘Yes’ on Sept….
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Ignored and fed up, UK regions call for Scottish-style devolution
The economic expansion that’s now in its sixth year is finally showing signs of trickling down to the poorest Americans. The U.S. poverty rate eased to 14.5 percent in 2013 from 15 percent in the prior year, the first decline since 2006, the year before the last recession began, according to Cen…
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Poverty in U.S. Falls for First Time Since Before Recession
CME Group (NASDAQ:CME), the world’s leading and most diverse derivatives marketplace, announced record open interest in its Forex complex for Sept. 15, 2014. Open Interest for FX futures and options combined stood at 2,630,556 contracts yesterday, the notional equivalent of $309 billion. The prev…
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CME Group reports open interest record for FX futures and options
The U.S. Federal Reserve on Wednesday could offer fresh clues on when it plans to begin lifting interest rates and how quickly it will move, as it prepares for a momentous policy turn after years of aggressive monetary stimulus. Although a tightening of monetary policy is not expected until mid-…
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Fed could hint on rate-hike plans as it prepares for policy turn
Thursday is a busy day for economic news, including the monthly update on Britain’s labour market. Although the numbers are expected to be upbeat, any bullish news will remain overshadowed by the uncertainty associated with tomorrow’s Scottish independence vote. Meantime, we’ll also see revised A…
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3 Numbers: UK positioned for strong labour data, EU CPI, US GDP
Ahead of Thursday’s critical Scottish Independence vote, we thought some context was worthwhile. As The Guardian notes, history shows that when people are asked, they almost always say yes to independence. Every election, country and place’s history is unique and different. Scotland is no exception….
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Scottish Referendum Preview: In 170 Years, Voters Chose "Independence" 88% Of The Time
Japanese pension funds favoring overseas investments are helping send the yen down toward its biggest monthly loss this year, Nomura Securities Co. says. The CHART OF THE DAY shows so-called trust accounts boosted purchases of foreign stocks and bonds to the most since 2009. The accounts capture…
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Yen Slide Quickens as Pensions Head Overseas
The Bank of Japan has begun paying banks for the privilege of lending them cash in a sign the central bank is reaching the limits of its power to reflate the economy, although it may soon be forced to pump yet more money into the financial system. Negative yields are more than a footnote in the B…
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Japan’s negative yields show BOJ’s limits, as easing expectations rise
Nomura notes that if the reports of a 500 bn yuan liquidity injection into the top 5 Chinese banks by the PBOC, via SLF, is confirmed, it would suggest that policymakers are sensitive to the significant weakening seen in the August activity data, adding that the effect of the liquidity injection…
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PBoC: Potential liquidity injection equivalent to 45bp cut in RRR – Nomura
