Catalonia’s government has decided to accept yesterday’s decision from Spain’s Constitutional Court and will not promote the Nov 9 referendum on independence. Catalonia will fight the Constitutional Court decision legally but I highly doubt that will work. “As a precautionary … Continue reading
Italian Finance Minister Padoan officially lowered GDP forecasts Reuters had previously reported that the GDP forecast would be cut to -0.2% to -0.3%. Padoan forecasts GDP will rise 0.6% in 2015. The consensus is -0.2% this year and +0.8% so … Continue reading
Ivascyn is on CNBC: He says the firm still believes in “New Normal” They’re constructive on Brazil and Mexico Expects rates to stay low in the months ahead
USD/JPY illustrates the limits of seasonals. Like any technical indicator, it’s only useful until something dramatic changes in the fundamental picture. The worst seasonal period of the year in USD/JPY is July-Oct but the pair has risen 8% since July … Continue reading
The euro has been battered over the past five months, declining 10% since May 7 but it’s always darkest just before dawn. A bounce is long overdue but it needs a catalyst. One thing it has going for it is … Continue reading
Comments from Bank of England MPC member David Miles at the London School of Economics. Giving specific path on rates too complicated to be useful In August, Miles had cautious but generally optimistic comments on the UK economy and said … Continue reading
US dollar longs were an incredible trade in September, right across the board.
There’s chatter that a commodity fund is liquidating and that’s what’s caused the sharp drops in oil, silver and some metals. All kinds of things happen at quarter-end and rumors spread easily because of the volatility in markets. I haven’t … Continue reading
The comments are from slides on the BOC website. She’s due to answer audience questions later so there could be more headlines. USD/CAD touched 1.1210 in a fresh high. Update: Flipping through the slides, these two are interesting.
Falling oil prices are weighing on the Canadian dollar and boosting USD/CAD. The pair has surpassed its post-GDP spike and is trading at 1.1207. The are real money and corporate offers beginning at 1.1210 and extending 15 pips higher. Look … Continue reading