Forex headlines for August 19, 2014: July 2014 US CPI 2.0% vs 2.0% exp y/y Core 1.9% vs 1.9% exp y/y. Prior 1.9% Real weekly earnings 0.0% vs 0.1% exp m/m US housing starts July mm +1.093 mln vs +969k … Continue reading
I hate to lump in all economists together but since they all pretty much think along the same laissez-faire axis, I’ll make an exception. I’d like to hear an academic economist justify his profession’s existence. I mean, what’s the economic … Continue reading
The Cleveland Fed is out with a study today checking to see if wage inflation predictably leads core PCE inflation. They don’t find anything: Our analysis finds that wages and prices tend to move together, complicating efforts to disentangle cause and effect. The … Continue reading
Tough day for Queen and Country today after the soft inflation data. Ryan lined up the technicals, including the break of the 200-dma. Here’s a look at the orderboard: Bids; Near 1.6610, which is the 61.8% retracement of this year’s … Continue reading
The full agenda for the Federal Reserve’s Jackson Hole symposium will be released at 8 pm ET on Thursday, according to sources cited by MNI. Some academic papers related to the conference will spill out at the same time. The … Continue reading
The Globe & Mail writes that China faces buyers remorse for its investments in the Canadian oil sands. There is “absolutely” some buyer’s remorse stemming from many of China’s big-ticket acquisitions, said Samir Kayande, vice-president of energy research at ITG … Continue reading
As the final closing deals are struck stocks are bowing out in the green for the second day of the week. FTSE +0.6% Cac +0.6% Dax +1.0% Ibex +0.3% FTSE Mib flat The Dax has managed to retrace 38.2% of … Continue reading
The 61.8 fib of the Feb swing up is at 1.6610 and we’ve pulled up a couple of pips short. While we’re fibbing we also have the 50.0 fib of the Nov 2013/Jul 2014 lo/hi 100 pips lower at 1.6510 … Continue reading
Average selling price $3000 per ton Prior auction -8.4% Tonnage auctioned -4.1% on prior auction Full details from the auction here NZD/USD falls to 0.8418 but has bounced back to 0.8440 On the whole it’s not as bad as the … Continue reading
S&P +4pts to 1975 Dow +37pts to 16850 Nasdaq +7pts to 4515 US 10 year yields 2.37% -2bp We’re inching our way back towards the 1985 level and the 1991 highs.
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