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Author: Adam Button
14

BOJ's Kuroda keeps his options open

Kuroda spoke to reporters at the G20, just a few days ahead of the July 29 Bank of Japan decision.

  • BOJ will add stimulus if needed
  • Japan is in a gradual recovery phase
  • Japan's virtuous economic cycle is continuing
  • Direct underwriting of debt banned in developed world

Meanwhile, a separate official said G20 talks with the US's Lew didn't discuss FX much.

The different definitions of helicopter money was one of the things I highlighted.

What is it?

  1. Dropping money from a helicopter
  2. Depositing money into citizen's accounts
  3. Monetizing debt
  4. Pledging to maintain/increase QE holdings for 100+ years and issuing the govt zero-coupon bonds

The last one, to me, is the same thing because it gives the government a huge amount of money to spend that will never be paid back. But there's no strict definition of helicopter money.

Last week, USD/JPY took a spill in Europe after an interview with Kuroda ruled out helicopter money. The 120 pips fall bounced after it was revealed the comments were recorded more than a month ago.

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Author: Adam Button

61 killed, 207 wounded in Afghan suicide attack

Attack targeted a peaceful demonstration in the worst incident since 2011 Islamic State claimed responsibility for the brutal attack. As many as three attackers may have been involved at the event, which was called "a gathering of Shiites" by Islamic State spokesmen.

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Author: Adam Button
6

Munich attacker wasn't a radical, was interested in shootings

Shooter appears to have been obsessed with mass shootings The motive for the shooter was likely fame or anger at society rather than any kind of religious or political ideas, police say. The 18-year-old had undergone psychiatric treatment and may have targeted teenagers.

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Author: Eamonn Sheridan
3

Fiscal policy to play bigger role post-Brexit - G20 official

Plenty of talking heads at the G20, this comment from an unidentified official, via Reuters: An increased role for fiscal policy was one of the goals of the meeting, whether there is more to it than just words remains to be seen.

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Author: ForexLive
6

A trading hack to help you trade like George Soros

By Boris Schlossberg from BK Forex In Alchemy of Finance, the legendary trader George Soros recalls his short of the home builders in the 1970s. He notes that he profited handsomely from the trade, but then did something interesting -- he looked at his own notes for the original thesis for the trade which discussed how the sector would dive then rebound and then collapse once again. Revisiting his own words Soros decided to re-short the builders and once again walked off with a handsome profit.

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Author: Adam Button
1

German police find body of probable shooter

Munich police offer details on shooting There is still no official word on the motive of the Munich mall shooter but police found a body with a self-inflected head wound near the river Isar.  Police said they believe it's the killer and that they think he acted alone. There had been previous reports of three separate shooters.

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Author: Greg Michalowski

Forexlive America's FX news wrap: More terrorist shootings.

Forex news and economic trading headlines Canada reported slightly higher retail sales and CPI data. Did it help the loonie? Well for a few minutes.  After which the price of the USDCAD shot higher and shorts were forced to scramble. Oil prices fell today and trades at $44.15 down 1.27% on the day.  That helped to support the USDCAD.  

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Author: Adam Button
2

Euro sits on the weekly low after German shooting spree

EUR/USD set for lowest close since March 2, what's next The quick drop into the London fix extended slightly to a fresh low at 1.0956. That's the worst level since the day of the Brexit vote.

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Author: Greg Michalowski

USDJPY inches lower. EURJPY lower too

Flight into JPY perhaps The USDJPY and EURJPY are moving a little lower. May be attributed to Munich shooting and move into JPY (out of EUR).  EURUSD a few pips lower.  Activity is light. 

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Author: Adam Button

Fed will want to keep options open at FOMC - Barclays

Barclays on what the Federal Reserve will do next We expect the Fed to leave the target range for the federal funds rate unchanged at 0.250.50% at its July meeting as it debates to what degree the softening in employment growth owes to transitory factors and the extent to which risks from abroad have diminished. Given competing views on the committee, the statement will have to strike a careful balance between acknowledging that June employment rebounded sharply and accommodative financial conditions following the UK vote against the desire to see further evidence that labor market momentum will keep the economy in an above-potential growth path.

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Author: Adam Button
1

Second shooting in Munich reported (Update: false alarm)

Police telling people to stay in their homes N24 is out with the report, which reportedly took place at the Stachus metro station. These are often mistaken reports after a shooting but the police have cut train, tram and bus lines after the mall shooting, so that may be a sign that the shooter fled.

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Author: Adam Button
6

Baker Hughes US oil rig count 371 vs 357 prior

Baker Hughes US oil and gas rig count - Prior oil was 357 - Natural gas 90 - Prior natural gas was 89 - Total rigs at 462 - Prior total was 447 More bad news for oil as rigs rise by 14 in the fourth consecutive week of increases.

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Author: Adam Button
3

Baker Hughes oil rig count to wrap up a rough week for oil

WTI crude oil is down 4.4% this week Oil has fallen in four of the five trading days this week and is down $0.83 to $43.92 on Friday. It is currently testing the lows of day and not far from Wednesday's weekly low of $43.96.

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Author: Adam Button
1

Several people reportedly killed at Munich shopping centre

H24 TV reports Police haven't confirmed the casualties but say the shooting is over. The shooter has either fled or is in some kind of hostage situation. The report said a shooting spree took place at the Olympia-Einkaufszentrum, which is a mall that opened in 1972.      

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Author: Ryan Littlestone
4

No let up in the euro's pain as it chugs to new lows

EURUSD on the receiving end of a Friday kicking There's a certain amount of chin scratching going on around this move in the euro. What started at the fix and was helped by some weekend covering has continued.

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Author: Greg Michalowski

Forex technical analysis: AUDUSD falls below trend line

Pretty big break.... The AUDUSD tried to go higher early in the Asian Pacific session, fell and tested trend line support.   Rebounded to the 100 day MA and has subsequently fallen below the trend line.  I outlined this bearish technical trade idea in .

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Author: Adam Button

ECB not worried about shortage of QE bonds for now

Nowotny points to Q4 as the timeline ECB officials were  to see no urgency to change QE rules in order to meet the quota of 80 billion euros per month. Market watchers have long noted that with so many bonds yielding below the -0.4% ECB deposit rate, that there wasn't enough supply.

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