Full text of the Oct 29, 2014 Federal Reserve statement on interest rates: Information received since the Federal Open Market Committee met in September suggests that economic activity is expanding at a moderate pace. Labor market conditions improved somewhat further, … Continue reading
Highlights of the October 29, 2014 Federal Reserve FOMC statement Underutilization of labor resources gradually diminishing Sees ‘solid job gains’ with lower employment Highlight accommodative policy to be appropriate for ‘considerable time’ following end of QE Repeats that measures of … Continue reading
With post-FOMC moves I like to to wait for some confirmation (at least an hourly close) above a level before I really believe in any kind of break. 1. USD/JPY at 108.35. That’s the October 22 high and a break … Continue reading
The currency market showed some jitters about a dovish Fed decision by selling the US dollar early today. In contrast, the bond market is jittery about a hawkish Fed as Treasury yields move up following a soft 5-year auction. The … Continue reading
Canada blew it. The commodity boom was a once-in-a-lifetime opportunity to reap a tremendous amount of investment. Canada is incredibly rich in resources and during the boom all the low-hanging fruit was harvested. But the boom was a chance to … Continue reading
Closing changes for the main European bourses: UK FTSE +0.7% German DAX +0.1% French CAC -0.1% Italy MIB -1.6% Italy is looking very soft.
MBI International has logged a $10 billion lawsuit against Barclays. Suit alleges Barclays abandoned pursuit of Saudi lease payments Alleges Barclays bribed officials to secure Saudi licence From Bloomberg: Barclays Plc was sued by Sheikh Mohamed bin Issa al Jaber’s … Continue reading
It’s the 85th anniversary of the one of the defining moments that led to the Great Depression. The Dow Jones Industrial Average fell 23.6% from the open on Oct 28 to the close on Oct 29, 1929 — or Black … Continue reading
The US dollar is under broad pressure ahead of the 2 pm ET FOMC decision. Traders have crowded into bets on the US dollar but there is always the risk of a dovish Fed and it’s no surprise that anyone … Continue reading
The Australian dollar broke 0.8900 and the October high of 0.8898 as the US dollar comes under broad pressure ahead of the FOMC decision. This chart suddenly looks impressive as this wedge breaks.