EuroCrisis Hits US Economic Data
July 06 2012 12:30 PM EDT
US economy limps into 2-H, investors, consumers nervous. A lot of weak economic data is casting doubts over expectations of a pick-up in growth in 2-H of this year in the US. From manufacturing to job growth to consumer spending, the numbers are grim, economists wonder if they need to dial down forecasts for the rest of the year.
ECB Cuts Rate to Historic Low; Draghi Remains Dovish
July 05 2012 9:55 AM EDT
The ECB cut its benchmark interest rate by 25 basis points from 1.00% to 0.75%, the lowest since the inception of the European union. Also, the deposit rate was cut to 0.
Spain to Stay in Recession
July 04 2012 8:15 AM EDT
Spanish economy minister predicts more recession in 2-H of Y 2012. Spain's Minister of Economy and Competitiveness Luis de Guindos said on Sunday that he expected the recession to continue in Spain throughout 2-H of Y 2012.
US Factory Orders Rose 0.7% in April; Risk-on in the Near-term?
July 03 2012 12:34 PM EDT
US Factory orders in May increased 0.7%, beating forecast of a 0.1% gain, and improving from -0.6% reading for April and a -2.1% reading for March , according to the Census Bureau.
Research Note: ECB/BOE preview
July 03 2012 10:54 AM EDT
On Thursday 5th July 2012 the European Central Bank will conclude its latest meeting and will announce its policy decision at 1245 BST/ 0745ET. At 1330 BST/ 0830 ET Mario Draghi, the President of the ECB, will hold a press conference explaining the Bank's decision.
RBA Holds Rate 3.50%; Initial AUD Reaction is Bearish
July 03 2012 4:56 AM EDT
Here is a look some past interest rate decisions, taken from ForexFactory. The SMQ column is a scale of how much the market moved (in this case the Aussie) in the 2 hours following the release.
Canadian Inflation on Ice
June 22 2012 10:26 AM EDT
Wrapping up some fairly important Canadian data this week, CPI numbers were released earlier this morning and showed that inflationary pressures are easing somewhat, continuing to stay of the south side of the Bank of Canada's target.
Moody's Takes a Hatchet to Global Banks
June 22 2012 10:24 AM EDT
Few large financial institutions managed to escape unscathed as Moody's repositioned the ratings of 15 banks and securities firms with global capital markets operations after the closing bell on Thursday.
Philly Fed Manufacturing Index Slides Sharply in June
June 21 2012 10:40 AM EDT
Philadelphia's June Business Outlook Survey shows weaker conditions this month. The Philly Fed Manufacturing Index fell from -5.8 to -16.6, the lowest since Sept. 2011. The survey's indicators for general activity, new orders, shipments, and average work hours were all negative this month, suggesting overall declines in business. Sources: Philadephia Federal Reserve (6/21)
Italy Hits a Cash Crunch
June 21 2012 4:00 AM EDT
Monti now says Italy may use EU rescue funds to solve debt problem. Italian Prime Minister Mario Monti said Italy may use EU rescue funds to settle their state debts, Ansa news agency said Wednesday. We are reflecting on how to reinforce the stability of the eurozone via mechanisms that make it possible to reward virtue so that countries respecting the financial rules, like Italy, can have this recognized in terms of less abnormal spread levels, Mr. Monti said at the end of the G-20 Summ...
Fundamental Update: The Fed saves QE for a rainier day
June 20 2012 1:44 PM EDT
The Federal Reserve stopped short of giving the market what it wanted during its June meeting. Rather than give into the baying the market the Fed stood firm and practiced a market-version of the Gina Ford method. Rather than indulge asset markets, it has left them to cope with the Eurozone debt crisis on their own.
Spanish Yields, North American Data Shrugged Off
June 19 2012 10:47 AM EDT
Markets are largely ignoring some very negative indicators this morning, seeming to feel that further support from central banks is imminent.
Euro Crisis focus on Spain, Merkel faces G-20
June 19 2012 7:55 AM EDT
The Group of 20 leaders have now focused their attention on stabilizing the Eurozone's banks, raising pressure on German Chancellor Angela Merkel to expand rescue measures as contagion engulfs Spain.
Symbolic Victory for the Euro
June 18 2012 1:56 PM EDT
The euro symbol was originally designed to resemble the Greek epsilon, in homage to the country often considered the birthplace of Western democratic ideals.
Manufacturing Data Points to Unemployment Rise in USA
June 15 2012 1:17 PM EDT
Europe's snowballing debt crisis threatens to send the global economy into recession. Factory production shrank 0.4 percent last month, the Federal Reserve said on Friday. Total industrial output, covering factories, mines and utilities, declined 0.1 percent. U.S. manufacturing output contracted in May for the second time in three months and a gauge of factory activity in New York state plunged this month, worrisome signs the American economy is cooling.
Used-Car Prices to Drop 3% in July
June 14 2012 6:00 PM EDT
Moderate seasonal demand will drive down prices in all used-vehicle segments over the coming months, says Jonathan Banks, senior analyst with the National Automobile Dealers Association (NADA) Used Car Guide.
Franc May Fall if SNB Steps Up Dovish Rhetoric on Greek Election Risk
June 14 2012 8:09 AM EDT
The Swiss National Bank interest rate decision is in focus in European hours. Policymakers are certainly not ignorant of the tremendous pressure that could face their EURCHF floor at 1.20 in the event of an adverse Greek vote over the weekend. With that in mind, the bank faces a difficult decision: preempt a pickup in selling pressure by raising the EURCHF floor, putting prices at a higher level heading into the weekend, or wait to see what happens and react accordingly after the election passes...
The Big Event: Greek election
June 13 2012 1:14 PM EDT
Event risk is building for this weekend as the much-ballyhooed second round of Greek elections gets underway on Sunday.
Is your company missing out on 2.4 Billion worth of opportunity?
June 12 2012 6:07 PM EDT
20% of surveyed Chinese companies indicate convenience and reduced FX risk for the preference to be paid in Chinese renminbi
Who's Next on the Debt Chopping Block?
June 12 2012 4:27 PM EDT
Markets reacted positively to the Spanish banking sector bailout for about two hours before the sobering reality of the situation set in.