The dollar was king once again, but some currencies such as the euro fared better than the commodity currencies. The Fed decision and the Scottish Independence Vote stand out as the key events in a week that also consists of other important releases, and promises to be very interesting. Check out…
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Forex Weekly Outlook September 15-19
The entire US Treasury complex surged higher in yield this week, rising 12-16bps (2Y +5bps) as the last 2 weeks are the worst for 10Y since last June’s Taper Tantrum. Despite all the ‘bonds-go-down-so-stocks-will-see-inflows’ rotation buffoonery, stocks slipped to their worst week in the last six,…
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Bonds Worst Run Since "Taper Tantrum" Sends Stocks To 4-Week Lows
Succinct Summations week ending September 12th Positives: 1. Job openings are at the highest levels since 2001. 2. Average price of gasoline fell to $3.42 on supply glut (lowest level since February) 3. Retail sales gained 0.6% m/o/m. up from a flat July (which was revised up 0.3%). 4. Cons…
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Succinct Summations of Week’s Events 9.13.14
Federal Reserve Vice Chairman Stanley Fischer has been tapped to head a new financial stability panel at the U.S. central bank, an influential perch he could use to try to broaden and enhance the Fed’s powers to ward off a future financial crisis. Fischer has focused on the issue of financial sta…
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Fed taps Fischer to lead new financial stability committee
The mere thought that the U.S. Federal Reserve is about to change its rhetoric has been enough to scare the markets of late. Will it come in next Wednesday’s Federal Open Market Committee (FOMC) statement? This very question has been torturing all asset classes: bonds, equities, and forex. Expect…
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Will the Fed Deliver?
U.S. and Japanese flags are displayed at a foreign exchange firm in Tokyo. Itsuo Inouye | AP U.S. and Japanese flags are displayed at a foreign exchange firm in Tokyo. After months of going nowhere, the dollar has started to take off against the yen, and pros say this is just the beginning. …
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This could be the trade of the decade
The USDCHF has trended modestly to the upside in trading this week after surging higher last week on the SNB comments that they could lower rates to below 0% at their September 18th policy meeting. Well, that meeting will be coming up next week. So the threat for a change is moving closer. IF they…
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USDCHF corrects into the weekend, but be careful
Investors pulled $27 billion out of UK financial assets last month – the biggest capital outflow since the Lehman crisis in 2008 – as concern mounted about the economic and financial consequences if Scotland left the UK, a report showed on Friday. People in Scotland will vote in a referendum on …
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Capital flows out of UK before Scots vote on independence, report shows
The Australian dollar is the worst performing currency this week. It has lost about 3.5% against the greenback. This is its worst week in a little more than a year. Given that the dollar bloc and yen are the weakest currencies, it would seem to contradict recent media reports about how the ca…
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Australian Dollar and Iron Ore Prices
BREAKING
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S&P upgrades Greece sovereign credit rating to ‘B’ from ‘B-‘, outlook stable
The EUR decline has started to stall and EURUSD is moving sideways after the bears decided to take a breather at 1.2860 – the low from 9th September. This pair was starting to look overextended, so, for now, it looks like the EUR has fallen far enough, but that does not mean that another leg lower…
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Has the EUR fallen far enough?
We all know the referendum is a big deal, but what can we actually say? None of us has much of an idea how the constitution might change after Thursday’s vote. Yet all of us want to talk knowledgeably about it and sound as if we really care. Here, then, is a primer for the uninitiated. Follow it…
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Ten handy phrases for bluffing your way through the Constitutional Crisis
The chatter is that Google will take a 40% stake in Ebay worth around $85 billion. It’s in response to Apple’s announcement of Apple Pay. There’s some other takeover chatter as well. …
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Rumor that Google will take a 40% stake in eBay
The U.S. expanded sanctions against Russia to include the country’s largest bank, OAO Sberbank, energy companies as well as five state-owned defense and technology companies. “Russia’s economic and diplomatic isolation will continue to grow as long as its actions do not live up to its words,” Tre…
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U.S. Widens Sanctions on Russian Banks, Energy, Defense Firms
U.S. business inventories rose in July, but probably not enough to change views that stock accumulation could be a minor drag on economic growth in the third quarter. The Commerce Department said on Friday inventories increased 0.4 percent after an unrevised 0.4 percent gain in June. Economists p…
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U.S. business inventories, sales rise in July
U.S. consumer sentiment rose in September to its highest in more than a year on more upbeat views on the domestic economy in the coming year, a survey released on Friday showed. The Thomson Reuters/University of Michigan’s preliminary September reading on the overall index on consumer sentiment c…
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Consumers get happier in September as sentiment hits 1 year high
Sterling is closing out the week holding on to its late Thursday’s gains (£1.6250) after another poll on Friday morning revealed a stronger “No” count for Scottish independence. The September 11 Survation online poll for the Daily Record & Sunday Mail happens to be the same pollster that sent the…
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Sterling Bulls and Russian Bears Remain Active
Euro zone finance ministers cast around on Friday for ways to revive the bloc’s stagnating economy as their post-crisis strategy of budget rigor was left in tatters by France’s admission it needs two more years to put its finances in order. Investment is the new buzz word among ministers, overri…
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Europe searches for a strategy after France’s broken promises
Sales (RSTAMOM) at retailers climbed in August at the fastest pace in four months and prior readings were revised up, boosting prospects for U.S. economic growth this quarter. The 0.6 percent gain matched the median forecast of 82 economists surveyed by Bloomberg and followed a 0.3 percent increa…
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Retail Sales in U.S. Increased in August by Most in Four Months
