U.S. investigators have turned several bank employees into informants to gather evidence against some of their colleagues in the probe of possible manipulation of currency markets, the Wall Street Journal reported, citing people familiar with the matter. Britain’s Financial Conduct Authority (FCA…
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Investigators turn bankers into informants in forex probe
Adam Posen is one of the new breed of monetary policy experts, conducting and discussing monetary policy like he’s playing basketball in a schoolyard, complete with the brash talk and bold stances. A strong proponents of bond buying by central banks, Posen now thinks the time has come for a Fed e…
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Posen on Fed liftoff, Scotland and the risk of a crash in Japan
The last holdout to the U.S. dollar’s world-beating rally is crumbling, and the derivatives market signals there’s no relief on the way anytime soon. Australia’s dollar slid below 90 U.S. cents today for the first time since March as evidence of a slowdown in China and a weak domestic economy boo…
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Dollar Resistance Futile as Aussie Sell Options Rise
UK Consumer Price Index (CPI) inflation fell back well below the official target in July after having suddenly spiked a month before. A continuation of the subdued inflation rate should allow the Bank of England (BoE) to remain relaxed about keeping monetary policy ultra-loose without stoking…
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Falling UK inflation to ease pressure on BoE
Let’s ponder for a moment those many critics of the Federal Reserve who have argued with great certainty for several years that low interest rates and gargantuan central bank bond-buying programs would lead to a collapse of the dollar. Boy, have those predictions been wrong. The U.S. currency is …
Banks will take over three quarters of the roughly 400 billion euros of cheap cash offered by the European Central Bank under its targeted long-term loans, designed to boost growth and encourage lending, a Reuters poll found. They will snap-up 133 billion euros at Thursday’s offering and a furth…
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Traders: Banks to take up 333 billion euros of ECB TLTROs in Sept, Dec- Reuters poll
As my college-aged cousin informed me this weekend, getting “turnt up” is the latest slang that kids are using these days to describe partying. Personally, I was still catching up to “putting on the ritz” to attend a classy “soiree.” Regardless, his comment prompted me to scan my forex charts and…
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GBPJPY Getting “Turnt Up”
Microsoft has bought Mojang, the Swedish firm behind the popular video game Minecraft, for $2.5bn (£1.5bn). The best-selling title, which boasts 100 million users, allows players to build structures with retro Lego-style blocks, as well as explore a large map and battle others. The deal was an…
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Microsoft pays $2.5bn for Minecraft maker Mojang
Change could be coming to how the Federal Reserve. On Wednesday, Fed Chair Janet Yellen will also hold a press conference discussing the Fed’s latest monetary policy decision, and a huge change in the Fed’s forward guidance — or how the Fed describes the future path of monetary policy — could be …
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Fed-Watchers Are Obsessing Over The Phrase ‘Considerable Time’
Industrial production in the U.S. unexpectedly declined in August for the first time in seven months as automobile making cooled. Output at factories, mines and utilities fell 0.1 percent after a 0.2 percent gain the prior month that was smaller than previously reported, figures from the Federal…
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Industrial Output in U.S. Falls for First Time in Seven Months
The US dollar is firm, though largely confined to the pre-weekend range. The Australian dollar is a significant exception. The sharp downside momentum seen over the past several sessions has been further encouraged by disappointing Chinese data. Over the weekend, the world’s second largest economy…
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Greenback Remains Firm to Start Key Week
Alibaba Group kicked off its Asia roadshow Monday in Hong Kong as the Chinese e-commerce giant continues its two-week campaign to pitch its stock to potential shareholders in a U.S. initial public offering that could raise as much as $24 billion. Speaking ahead of a luncheon with institutional in…
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Alibaba Kicks Off Asia Roadshow in Hong Kong
Strap in and be prepared for opportunities, as this is a big week for investors and capital markets. Geopolitical events, a few central bank meetings, and the Scottish referendum are supporting the recent uptick to both volume and volatility, especially in the forex asset class. The US dollar…
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Dollar and Sterling Get Direction Orders
…It is rare that there is this much smoke without fire. It is very likely the Fed will ditch the ‘considerable time’ reference, but make their intentions as clear as possible and explain that they wish to align policy with the incoming data and not a reference to time. It is likely that market…
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High Risk Of ‘Buy The Rumor, Sell The (USD) Fact Into FOMC – Deutsche Bank
In another example of a an unregulated forex broker promoting itself as a licensed entity, the Australian financial services regulator, ASIC, has issued a public warning to consumers to be wary of foreign exchange broker, FirstForex. Marketing itself to Chinese and other Asian clients, according to…
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ASIC Warns Against FirstForex, Fifx and FIFX Global
Mario Draghi is about to give the euro-area economy a jump-start. He’s asking the currency bloc’s leaders to make sure they’re in gear. Over the next six weeks, the ECB will be rolling out measures that could begin to restore the central bank’s balance sheet to the levels it had at the height of…
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Draghi Prods Euro Area to Ready Ground for Economic Boost
EUR/USD is seeking a price bottom as we can see in the 4H chart. We can say that the pair broke above a triangle that was completed last week. We can also see that there is also an inverted head and shoulders pattern with the neckline at 1.2987. Consolidation, Bullish Correction, Upside Risk: If t…
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A Kilroy Attempt Spotted in the EUR/USD
While the global recovery continues at a moderate rate, the outlook is uneven across regions. Growth will be strong enough to push unemployment down further in the United States, the United Kingdom and Canada. In Japan, where unemployment has already declined to low levels, the economy will grow…
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OECD: Global growth continuing at a moderate pace
The first estimate for the euro area1 (EA18) trade in goods balance with the rest of the world in July 2014 gave a €21.2 billion surplus, compared with +€18.0 bn in July 2013. The June 20142 balance was +€16.7 bn, compared with +€15.7 bn in June 2013. In July 2014 compared with June 2014, seasonally…
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Euro area international trade in goods surplus €21.2 bn
A bitter public attack by a jilted ex-partner, a cabinet melt-down and the admission of broken economic promises have meant an uncomfortable three weeks for Francois Hollande. But the hardest is yet to come for the French president, who this week embarks on a struggle to convince Socialist allie…
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Hardest yet to come for France’s Hollande
