This week’s economic reports will be highlighted by Friday’s unemployment report, which analysts expect will illustrate the 11th straight month of declining job ranks in the U.S. economy. Non-farm payroll employment fell by 240,000 in October, and the unemployment rate jumped to 6.5%, up from 6.1% the month before, the Bureau of Labor Statistics reported in early November. October&r...
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There has been one asset class which has held up with flying colors: US TREASURIES. It has been a great ride if you hold them, but the yields are reaching a point that signals something disastrous. The sad part is that this is not just a warning or just temporary funds seeking "just in case" havens. It is signaling another major shoe to drop imminently.We all know the story. A global recession...
USD holds gains against most pairs USD/JPY drops to low 93’s US data dismal, volumes drop Overnight Preview Look for follow-on selling of USD/JPY on weaker equities USD still inside larger ranges Looking Ahead to Tuesday All times EASTERN (-5 GMT) All Day USD Total Vehicle Sales 12:30pm USD FOMC Member Plosser Speaks Summary Falling equities, weaker US economic data and fear of larger tha...
Overnight Asia/Europe USD opens weaker, rallies a bit Majors mixed in solid two-way action UK data unfriendly to the GBP Today’s Economic Reports All times EASTERN (-5 GMT) 10:00am USD ISM Manufacturing PMI 10:00am USD Construction Spending m/m 10:00am USD ISM Manufacturing Prices Looking Ahead to Tuesday All times EASTERN (-5 GMT) All Day USD Total Vehicle Sales 12:30pm USD FOMC Member P...
Timothy Geithner -- who has been tapped to become Treasury secretary -- has handed over his responsibility as a member of the FOMC.
I’m joking of course but who knows as the ideas just get goofier. Bloomberg: The Federal Reserve took two new steps to unfreeze credit for homebuyers, consumers and small businesses, committing up to $800 billion. The central bank will purchase as much as $600 billion in debt issued or backed by government-chartered housing-finance companies. It will also set up a program of $200 billion ...
The Federal Reserve this morning announced new plans to unclog credit markets as the economic recession continues to deepen across the country, stifling bank lending and resulting in widespread hoarding of cash. The Fed announced two new efforts to unfreeze credit for homebuyers, consumers and small businesses, committing up to $800 billion dollars. The move is timely as LIBOR rates ratchet hig...
Here is the weekly recap from Briefing.com:A horrible experience this year for investors got even worse this week. The losses in the major indices were material and new lows were set in this bear market move. In fact, with the losses seen this week, the entirety of the gains recorded during the bull market move from the October 2002 low to the October 2007 high were wiped out at one point and t...
The Federal Reserve is already engaged in unorthodox “quantitative easing” and should prepare for the possibility that more extreme measures could be needed to guard against deflation, Don Kohn, its vice-chairman, said on Wednesday. “We have already engaged in forms of quantitative easing,” Mr Kohn told the Cato Institute, a think-tank. He said the US central bank should...
Hi everybody hope you are fine! Quite an interesting journey yesterday, with majors behaving technically and dollar and yen the overall winners of the day, after the Dow Jones again under the 7900 level mentioned yesterday. However the Asian session and during the European session also, we see majors recovering ground back again the ranges of these last days. However, early reports in the euro...