• Relatives weep for victims of fire.

    Pakistan Fire: Death Toll Rising In Karachi Factory Inferno

    Nearly three-hundred people have died in a fire that swept through a garment factory in Karachi, Pakistan, making the inferno one of worst industrial accidents in the country’s history.
  • Daily Summary on USD, EUR, GBP, JPY, AUD, CAD and NZD

    • USD sharply lower as markets await the outcome of the FOMC meeting. • EUR extends its weekly gains, rising to a fresh four-month high against the USD on optimism over an ECB bond-buying scheme. • Yen soars to 3-month highs against the USD as an expected third QE program will narrow the yield gap between US and Japanese securities
  • Catalans Clamor For Independence From Spain As Recession Chokes Region

    Catalan represents 15 percent of Spain’s population, but produces about one-fifth of the country’s GDP.
  • Apple’s iPhone 5 Could Add 0.5% To US GDP, JPMorgan Says

    If, as one analyst expects, Apple sales of its new iPhone 5 -- estimated to cost about $600 each -- reaches 8 million, it could boost the GDP of the U.S. by half a percentage point.
  • Moody's

    Moody’s Warns Of US Credit Rating Downgrade Without Budget Deal

    Moody's warned Tuesday it could strip the U.S. of its coveted triple-A credit rating if Congress fails to produce a budget that will bring down the federal debt burden.
  • London Session: Is this the calm before the storm?

    This is the second day of very tight ranges that we have seen in FX markets. Yesterday's action could be put down to the markets taking a breather after Thursday and Friday's rally from last week, however today's price action could be put down to nervousness ahead of major event risks due this week.
  • Yes, Even Denmark Has A Homelessness Problem

    The homeless problem in Denmark is unlikely to ease anytime soon. Net unemployment is now at 4.7 percent, the highest level in six years. Labor Minister Mette Frederiksen warned that the unemployment rate will continue to climb into 2013.
  • Apple iPhone 5 Could Boost US Economy, Lift Up GDP By 0.5%, Says JP Morgan

    Michael Feroli, JP Morgan's chief economist, said in a new research note to clients that sales of the new version of the iPhone could add between a quarter and a half percentage point to fourth quarter annualized GDP growth in the U.S.
  • File photo of stock brokers trading in a brokerage firm in Kolkata February 16, 2009.

    Poor Returns Cast Cloud over BRIC Equity Funds

    Investors fed up with years of poor returns are deserting BRIC equity funds, pushing share valuations to record cheap levels and questioning the future of the high-profile investment theme.
  • Lagarde

    IMF Chief Christine Lagarde’s Statement At APEC Leaders Summit (FULL-TEXT)

    Christine Lagarde, managing director of the International Monetary Fund (IMF), issued the following statement at the opening of Asia-Pacific Economic Cooperation (APEC) Leaders Summit in Vladivostok, Russia on Sunday.
  • Daily Summary on USD, EUR, GBP, JPY, AUD, CAD and RMB

    The USD recouped some of its losses from late last week as concerns over the European debt crisis and the slowdown in global growth partially offset expectations of further Fed easing. Nevertheless, the dollar remains towards the bottom of its recent ranges after last week's disappointing NFP report led investors to up their bets that the Fed will unveil a third round of quantitative easing. However, QE3 would likely need to be structured differently than the Fed's first two rounds of asse...
  • Pre-Opening Soy Complex Market Report 9/10

    November soybeans are trading 4 cents higher near 7:30 am cst. Soybean meal and oil are trading slightly higher as well. Malaysian Palm Oil prices edged higher overnight on rising export data but gains were limited after The Malaysian Palm Oil Board reported August palm oil stocks above 2 million tonnes which was up 5.8% in August. There were no soybean or soybean meal deliveries overnight but 703 for oil to bring the total for the month to 5,944. Asian equity markets were mixed during overnight...
  • Morning Silver Market Report 9/10

    SILVER MARKET FUNDAMENTALS: (6:00 AM CT) As US economic data continues to disappoint, the market's expectations for the Fed to start another round of quantitative easing grows, and that has traders looking to buy precious metals, including silver, as a hedge. Friday's disappointing jobs data seemed to convince the market that the Fed may be forced to act ahead of the election, raising the possibility of an announcement after the FOMC meeting this week.
  • Morning Gold Market Report 9/10

    GOLD MARKET FUNDAMENTALS: (6:00 AM CST) The gold market is trading somewhat lower this morning following a big breakout to the upside on Friday. Inflationary expectations are on the rise in anticipation of the Fed embarking on a third round of quantitative easing, which could be announced when the FOMC meets this Wednesday and Thursday. There has been some question as to whether they would make any substantial move ahead of the election for fear that they would appear "too political," but ...

    The unremitting deterioration of the eurozone's sovereign debt landscape continues to fuel uncertainties about the longevity of the euro as a strong currency. Such uncertainties are not only leading to capital flight from the EMU's periphery to the core and destabilizing markets worldwide, but they are also beginning to frighten southern European savers into seeking refuge outside their 10-year-old currency.
  • London Session: A week of event risk both sides of the Atlantic

    There has been a lack of conviction in the markets this morning. EURUSD has fallen back from its 1.2810 high, and stocks are mixed to slightly lower since the London open. After their sharp falls on Friday, Spanish bond yields have started to climb higher, but not worryingly so. The 10-year yield is now at 5.65%, however, Spain may end up being the undoing of the ECB's latest sovereign rescue plan as low or falling bond yields make it less likely that Madrid will formally request aid, which i...
  • Asian Stocks

    Asian Stocks Mostly Up on Stimulus Hopes

    Asian stock markets mostly ended higher Monday on hopes that major economies including the U.S and China would soon announce a new round of stimulus measures to spur growth.
  • 10/9/2012 - The Current Market Sentiment

    As expected and as what has been mentioned several times in the recent reports since the minutes of the recent Fed's meeting release, the expectations of having a close QE3 decision by the Fed have increased significantly following a release of another non-farm payrolls number below 100k as the US labor report of August came lowering the reading of them in June to 45k from 64k and in July to 141k from 163k previously and in August the number came at 96k while the market was waiting for 125k t...
  • Majors Daily Forecast 10 September 2012

    EUR/USD Buy at 1.2777 SL 1.2745 TP 1.2854 USD/JPY Sell at 78.27 SL 78.59 TP 77.55 GBP/USD Buy at 1.5990 SL 1.5958 TP 1.6078 USD/CHF Sell at 0.9475 SL 0.9507 TP 0.9391 today so far +61, total on Friday +129 pips
  • EUR/USD Sharply Higher After ECB

    On Friday Euro/Dollar increased significantly with almost 200 pips as after ECB effect. The European currency appreciated from 1.2625 to 1.2819 on Friday, not matching the positive money flow sentiment at above 17%, closing the week at 1.2629. This morning the Euro is trading quietly, with movements at the upper end of Friday's range for now. On the 1 hour chart the upward channel has convincingly resumed, while on the 3 hour chart quotes broke up of the wide range. Break above the nearest...