• DNC Puts Spotlight On How North Carolina Is A New Battleground

    The fact that the Democrats are preparing to convene in North Carolina highlights how shifting demographics are changing America's electoral map.
  • Barack Obama

    Obama Gives Himself 'Incomplete' Grade On Economic Policy, But Insists Recovery Underway

    Republican critics jumped on President Obama's remarks as more evidence that the he is not capable of reviving the economy.
  • August Jobs Report, ECB Meeting: Economic Events for Sept. 4-7

    During the holiday week, economy-watchers are likely to focus on Friday's August nonfarm payrolls report and the European Central Bank’s governing council meeting, on Sept. 6.
  • London Session: EURUSD loses its grip on 1.26

    The markets seem to be getting a little jittery as we lead up to the ECB meeting and narrow ranges abound. EURUSD gave up the 1.26 handle just before lunchtime in the London session after some news came out that said Spain would inject debt rather and cash into its struggling banking behemoth Bankia. This is a bridging loan before Bankia has access to the EFSF/ESM banking bailout funds of up to EUR100 billion. However, the decision to use debt rather than cash does two things: 1, make Bankia'...
  • Fiat Currencies get Flushed

    If the August Non-farm Payroll report produces a number of less than 100k jobs, the chances of QE III being announced on September 13th are close to 100%. However, if the number is north of 100k the odds drop, but are still about 80% on more Fed money printing.
  • Investors Still Thrilled with Bernanke's Speech

    Financial markets firmed on Monday morning as investors continued to be thrilled by Fed Chairman Bernanke's speech at the Jackson Hole conference. The Chairman's dovish comments and his defense on unconventional monetary easing were interpreted as signals of QE3 in coming few months. Asian shares climbed higher although official PMI in China contracted further, sending indication that the world's second largest economy is slowing further. In the commodity sector, crude oil prices steadi...
  • Explosive-Laden Car Rams Into US Vehicle In Pakistan, 2 Killed

    A car filled with explosives rammed into a U.S. government vehicle near the U.S. Consulate in the northwestern Pakistani city of Peshawar Monday, killing two people and injuring five others, media reports said citing Pakistani authorities.
  • Ben Bernanke

    Currency Focus: Bernanke Strikes Delicate Balance On Stimulus

    Acutely aware of the emphasis markets had placed on his Jackson Hole appearance, the ensuing market reaction suggests Fed Chairman Ben Bernanke successfully walked the tight-rope by displaying a willingness to embark on further non-traditional policy initiatives, without prompting a material shift in expectations.
  • Drought Seen Pushing US Meat Prices Even Higher

    The worst drought to hit U.S. cropland in more than half a century could soon leave Americans reaching deeper into their pockets to fund a luxury that people in few other countries enjoy: affordable meat.
  • 2012 Election

    Five Reasons Why Obama Could Win The 2012 Election

    He's practically the devil incarnate to the Republican Party, but no president since President Franklin D. Roosevelt has had to address as many serious economic, financial and foreign policy problems as President Barack Obama. Further, Obama's relative success addressing these problems, and the Republican Party's callousness, will lead to Obama's re-election in November.
  • Fast Food May Soon Come With Obamacare Surcharge

    Fast-food franchise owners say the Affordable Care Act could virtually put them out of business with its requirements that they provide health-care coverage.
  • Daily Summary on USD, EUR, GBP, JPY, AUD and CAD

    The dollar is lower against nearly all of its major counterparts this morning after Fed Chairman Bernanke kept hopes of QE3 alive. While the Fed chief stopped short of providing any particulars of a third bout of asset purchases, he vehemently defended the two previous rounds, saying they drove stocks higher, improved financial market stability and created more than 2 million jobs. He went on to reiterate the central bank's willingness to inject further liquidity, but statements as such are n...
  • Fed Chairman Ben Bernanke

    Bernanke's Speech at Jackson Hole: 6 Key Take-Aways

    It seemed everyone was claiming their crystal ball has been right in anticipation of a much-hyped speech by the world's most powerful central banker, who managed to turn the attention of traders around the world to his podium in bucolic Jackson Hole, Wyo. Friday. They were all right and, as usually happens in such cases, they were also all wrong.
  • Spain's Capital Outflow Soars Nearly 40% In June

    The Bank of Spain announced on Friday that capital outflow from the country had increased by almost 40 percent in June 2012.
  • Morning Gold Market Report 8/31

    December gold inched higher overnight and trade sentiment this week has clearly shifted toward the ebb and flow easing talk from the Bernanke speech today. The bar is set fairly high, so Bernanke will have to acknowledge the prospect of easing in the September FOMC meeting or physical commodities like gold could be disappointed.
  • Morning Silver Market Report 8/31

    Silver has forged a modest recovery effort to start today. While cheered by the prospect of a Bundesbank leadership change, physical and industrial commodities were probably undermined slightly by the latest round of dismal EU unemployment figures. At least in the short term, the silver market will be locked onto the Bernanke speech. Since December silver is off roughly $1.05 an ounce from this week's highs, the silver market might be able to rise sharply if Bernanke provides a sliver of easi...
  • London Session: Bernanke with a bit of ECB risk thrown in

    As if to remind us that Bernanke is not the only show on the road in the next few weeks Eurozone officials have been out in force today to remind us that the ECB meeting next Thursday is also going to be a major driver of markets in the medium term. The headline risk from the currency bloc kicked off this morning with two press reports: 1, the head of the Bundesbank has reportedly threatened to resign in recent weeks on the back of negotiations for ECB policy action to try and stem the debt cris...
  • Clint Eastwood at RNC

    RNC 2012: Clint Eastwood's Surprise Appearance At Republican National Convention Propels Star Power To Fore, Evokes Twitter Backlash (VIDEO)

    As Clint Eastwood made his "surprise" appearance at the Republican National Convention and delivered his speech supporting Republican Mitt Romney and mocking President Obama, star power came to the fore ahead of November 6 elections even as Twitterati blasted his speech.
  • Financial Markets Eased ahead of Bernanke's Speech

    Financial markets eased a tad despite more good news from the US data. Investors do not prefer to see improvement in economic dataflow recently as this might suggest delay in Fed's monetary easing actions. In the Eurozone, sentiment was weighed down as Spanish Prime Minister Rajoy said the country would delay seeking a bailout until conditions of any rescue package are confirmed. The conditions, according to French President Hollande, would be finalized at the October 19 European summit. Wall...
  • Majors Daily Forecast 31 August 2012

    EUR/USD Sell at 1.2520 SL 1.2552 TP 1.2443 USD/JPY Sell at 78.53 SL 78.85 TP 77.81 GBP/USD Sell at 1.5796 SL 1.5828 TP 1.5708 USD/CHF Buy at 0.9591 SL 0.9559 TP 0.9675 today so far +50, total yesterday +28 pips