9 minutes ago | September 1st, 2014 23:12:59 GMT

Japan’s LDP Kozo Yamamoto calls for delayed tax increase

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  • Japan’s Liberal Democratic Party parliamentarian Kozo Yamamoto calls for delayed tax increase

An item in the Wall Street Journal overnight crossing as a Bloomberg headline

Ally of Japan’s Abe Calls for Delayed Tax Increase

(gated)

Liberal Democratic Party member Kozo Yamamoto in an interview with The Wall Street Journal on Monday:

  • Japan should delay a sales-tax increase planned for next year amid signs of flagging consumer confidence
  • “The economy is picking up, but the pickup has been a bit slow, so it’s best not to make any more headwinds”
  • “I’ve begun to think we should delay another tax increase.”

 

 

0 comments

38 minutes ago | September 1st, 2014 22:44:29 GMT

Election results in Germany … AfD party wins seat (psst. AfD is calling for an end to the euro)

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The Alternative for Germany (AfD) party polled near 10% of the vote in Saxony over the weekend

  • Above the 5% threshold to enter that state’s parliament
  • The AfD began as a single-issue party, calling for an orderly unravelling of the euro. In the past year, it has added piecemeal other positions, from an increase in direct democracy to a return to conservative economics

More detail here

And more:

  • win 9.7% of the vote
  • Potentially enough to claim 14 of the 126 seats in the Saxony parliament
  • It would even be enough to enter government as part of a coalition with the centre-right CDU, though that has been ruled out by the CDU state premier, Stanislaw Tillich, whose party was the clear winner with 39.4%.

More: Germany Eurosceptics win state seats in Saxony

h/t & thank-you to Lilac in the comments at this post

1 Comment

2 hours ago | September 1st, 2014 21:14:24 GMT

Economic data due from Australia – now with added building approvals!

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Wow .. don’t you hate it when you miss the building approvals data ….

I’ve copied my original post below … but just wanted to add in …

0130GMT (2130NY time):

Building approvals for July

  • For the m/m, expected is +1.9%, prior was -5.0%
  • For the y/y, expected is +7.8%, prior was +16.0%

Yes, its RBA day!

The Reserve Bank of Australia (RBA) board jet off for a meeting in Adelaide today. Adelaide is interesting, its timezone is offset by half an hour from Eastern Australia time … Half an hour, any other places do that? (Apart from in Australia, that is).

But, before we get the word from the RBA (BTW, the word will be ‘No Change’ .. OK, two words):

2330GMT (730pm NY time):

  • ANZ Roy Morgan weekly Consumer Sentiment for the week ended August 31, prior was 113.5

0130GMT (930pm NY time):

  • The quarterly BoP Current Account balance, today its for Q2, expected is -14.0bn, prior was -5.7bn
  • Also, the ‘net exports as a % of GDP’ for Q2, prior was 1.40%

-

OK, drumroll please …

0430GMT (0030 NY time) … The RBA announcement (hey, why wait … like I said .. “No Change”, cash rate to stay at 2.50%). Given the lay down misere of the announcement, attention will turn immediately to the accompanying statement. I’ll be back with a preview soon.

BUT … if ya can’t wait … here’s a preview I already did yesterday, but I’ll do a fuller one today: PREVIEW of RBA & Australia interest rates – The RBA ‘shadow board’ on what to expect from the RBA

And here’s Adam’s technical analysis preview: Technical analysis: Australian dollar ahead of the RBA decision

0 comments

2 hours ago | September 1st, 2014 20:40:15 GMT

Trade ideas thread for Tuesday 02 September 2014

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Good morning/evening/afternoon. Welcome to Monday 2.0. Or, that’s what it feels like after a US market holiday. Thin liquidity until the rest of Asia boots up for the day.

Any trade ideas, thoughts, views, ForexLive traders would like to share and discuss with fellow ForexLive traders, please do so:

6 Comments

2 hours ago | September 1st, 2014 20:38:00 GMT

Economic data due from Australia (pssst. and the central bank of Australia announcement!)

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Yes, its RBA day!

The Reserve Bank of Australia (RBA) board jet off for a meeting in Adelaide today. Adelaide is interesting, its timezone is offset by half an hour from Eastern Australia time … Half an hour, any other places do that? (Apart from in Australia, that is).

But, before we get the word from the RBA (BTW, the word will be ‘No Change’ .. OK, two words):

2330GMT (730pm NY time):

  • ANZ Roy Morgan weekly Consumer Sentiment for the week ended August 31, prior was 113.5

0130GMT (930pm NY time):

  • The quarterly BoP Current Account balance, today its for Q2, expected is -14.0bn, prior was -5.7bn
  • Also, the ‘net exports as a % of GDP’ for Q2, prior was 1.40%

-

OK, drumroll please …

0430GMT (0030 NY time) … The RBA announcement (hey, why wait … like I said .. “No Change”, cash rate to stay at 2.50%). Given the lay down misere of the announcement, attention will turn immediately to the accompanying statement. I’ll be back with a preview soon.

BUT … if ya can’t wait … here’s a preview I already did yesterday, but i’ll do a fuller one today: PREVIEW of RBA & Australia interest rates – The RBA ‘shadow board’ on what to expect from the RBA

And here’s Adam’s technical analysis preview: Technical analysis: Australian dollar ahead of the RBA decision

 

 

0 comments

3 hours ago | September 1st, 2014 19:46:29 GMT

ForexLive Americas wrap: Labor Daze

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Forex headlines for September 1, 2014:

No surprise that it was a light session with US traders getting one last dose of sunshine before Fall trading sets in. If anything, the US dollar was fractionally stronger as EUR/USD drifted lower to 1.3130 from 1.3140 in NY hours, most of it when London was still online.

USD/JPY is plumbing the session high near 104.30 but is hitting offers there. Watch for a move on a break higher.

Cable was one of the better moves although that’s not saying much. It fell down to 1.6610 from 1.6620 in a quick move and has been bleeding lower since it hit 1.6644 just before the UK Markit PMI.

The Australian dollar is headlining the commodity bloc moves at the moment with AUD/USD at a US and European low of 0.9330 from 0.9350 in European trading. Some paring of longs isn’t a big surprise ahead of today’s RBA decision.

CAD and NZD are very quiet.

Gold hit an airpocket in a $5 swan dive in illiquid US afternoon trading. From $1282 it bounced right back to $1287 and we’ll finish the day about unchanged.

0 comments

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