This has been an unusual year for the global economy, characterized by a series of unanticipated economic, geopolitical, and market shifts – and the final quarter is likely to be no different. How these shifts ultimately play out will have a major impact on the effectiveness of government policies –…
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Markets’ Rose-Tinted World
Japan will lower its economic assessment in the Sept report (due Sept 19), according to Nikkei News. The headlines gave another jolt to USD/JPY and the pair has now nearly recovered the entirety of the slump.
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Japan to lower economic assessment in September report – Nikkei
Bank of Canada Governor Stephen Poloz said a pickup in exports is gaining traction, while insisting the central bank doesn’t try to manipulate the value of the currency. “We are cautiously optimistic about our exporting future,” Poloz, 58, said in the text of a speech he’s giving today in Drummon…
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Poloz Says He Doesn’t Talk Down Dollar as Exports Recover
The Bank of Canada’s commitment to keep inflation low and stable requires that the value of the Canadian dollar be determined by markets, Bank of Canada Governor Stephen S. Poloz said today in Drummondville. The Bank of Canada fosters strong, sustainable economic growth by aiming to keep inflatio…
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Poloz: Floating Loonie Essential to the Bank of Canada’s Inflation-Targeting Regime
U.S. stocks rose, as energy shares rallied with the price of crude, after China’s central bank disclosed new stimulus measures. Copper surged. The Standard & Poor’s 500 Index rose 0.6 percent at 12:01 p.m. in New York, as energy stocks in the gauge jumped 1.5 percent. Copper rallied 2.8 percent a…
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U.S. Stocks Rise While Oil Rallies as PBOC Adds Stimulus
Federal Reserve officials gather Tuesday and Wednesday to discuss whether to adjust their guidance on interest rates. Join Wall Street Journal economics correspondents Jon Hilsenrath and Sudeep Reddy for a live video chat Tuesday at 11 a.m. ET to discuss the meeting and Fed Chairwoman Janet Yelle…
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What to Expect From the Federal Reserve Decision: WSJ’s Hilsenrath and Reddy Discuss
The historic referendum deciding whether Scotland should be become an independent country happens September 18th. The results are expected after the US markets close and before London opens. This means that the foreign exchange market is the best place to be for seeing and perhaps trading on the…
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Scotland Referendum: Timetable for forex traders
It has been a while since the PBOC engaged in some “targeted” QE. So clearly following the biggest drop in the Shanghai Composite in 6 months after some abysmal Chinese economic and flow data in the past several days, it’s time for some more. From Bloomberg: CHINA’S PBOC STARTS 500B YUAN SLF …
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China Launches CNY500 Billion In "Stealth QE"
Scotland’s referendum seems to overshadow this week’s key events. Yet, for the most part, it is a binary event. Either Scotland votes to be independent of the England and Wales or it doesn’t. An independent Scotland would be a surprise even though the polls show a statistical dead heat. It would…
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Gaming the TLTRO
Prior GDT price index change -6.0% Average selling price $2,795 per tonne Volumes -10.9% to 50,801 Not really much of a rise though as we move from 0.8145 to 0.8160 and back to 0.8150
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NZD/USD up as dairy prices come in unchanged
Prior GDT price index change -6.0% Average selling price $2,795 per tonne Volumes -10.9% to 50,801 Not really much of a rise though as we move from 0.8145 to 0.8160 and back to 0.8150
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NZD/USD up as dairy prices come in unchanged
The European Central Bank invited banks on Tuesday to bid for a fresh round of long-term loans it hopes will stimulate lending to businesses and reinvigorate the euro zone economy but which may see only modest take-up. The program is a key plank of ECB efforts to stave off the threat of deflation…
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ECB invites banks to tap new funds it hopes will pep up euro zone
The European Central Bank invited banks on Tuesday to bid for a fresh round of long-term loans it hopes will stimulate lending to businesses and reinvigorate the euro zone economy but which may see only modest take-up. The program is a key plank of ECB efforts to stave off the threat of deflation…
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ECB invites banks to tap new funds it hopes will pep up euro zone
Two Bank of England (BoE) policymakers, Martin Weale and Ian McCafferty, are expected to have voted again for a rate hike in September, the same as they did in August. The rest of the nine-member Monetary Policy Committee (MPC) voted to leave policy unchanged for now, the MPC meeting minutes are…
Two Bank of England (BoE) policymakers, Martin Weale and Ian McCafferty, are expected to have voted again for a rate hike in September, the same as they did in August. The rest of the nine-member Monetary Policy Committee (MPC) voted to leave policy unchanged for now, the MPC meeting minutes are…
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Split on BoE rates expected to continue in September
• GBP/USD is losing its short-term bullish momentum. A break of the hourly support at 1.6186 (11/09/2014 low) would open the way for a test of the recent low at 1.6052. Hourly resistances can now be found at 1.6279 (15/09/2014 high) and 1.6340 (05/09/2014 high). • In the longer term, prices have …
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GBP/USD – The short-term bounce is fading
Investors are increasingly expecting the Federal Reserve to raise interest rates in the spring of 2015, with the dollar forecast to rise as a result, according to the Bank of America Merrill Lynch Fund Manager Survey for September. Nearly half of the fund managers polled, 48%, believe the U.S. ce…
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Investors banking on spring rate hike: Merrill survey
Canadian manufacturing sales increased 2.5% to $53.7 billion in July, exceeding the previous record of $53.2 billion set in July 2008. Manufacturing sales have trended upwards since January 2014. The gain in July was largely attributable to higher sales in the transportation equipment and primary…
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Canada Monthly Survey of Manufacturing, July2014
The Producer Price Index for final demand was unchanged in August, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. Final demand prices advanced 0.1 percent in July and 0.4 percent in June. On an unadjusted basis, the index for final demand increased 1.8 percent for the…
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US Producer Price Indexes – August 2014
After Elizabeth I died childless in 1603, her closest royal relative James VI of Scotland came down to take the throne and unite the two crowns, becoming James I of England. He only went back once. More than four centuries later, Scottish National Party leader Alex Salmond says that if his campa…
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Ditching Monarchy Is Step Too Far for Scots Nationalists
