DailyFX: Analyst picks November 18, 2013 CURRENCY ANALYST CHRIS VECCHIO My pick: Stopped flat on euro-dollar and Aussie-dollar, long sterling-yen Expertise: Fundamental and technical analysis Average time frame of trades: A few hours to a few days Both my short Aussie-dollar and euro-dollar positions started off strong, but were both stopped out at break-even after Janet Yellen made clear her intent [...]
Dot London to give Foxtons extra boost says Canaccord Genuity November 18, 2013 London focused estate agents, Foxtons, is set to benefit from the new dot London domain name, according to Canaccord Genuity. The US body responsible for domain names, ICANN, approved the dot London suffix last week. The Evening Standard reported that the domain named will need to be renewed every year for a fee, which London [...]
US home builder confidence holds steady in November despite economic uncertainty November 18, 2013 US home builders are continuing to have a rough time of it. The National Associtation of Homebuilders (NAHB) housing market index was flat in November, at 54, from 54 in October, which was revised down from 55. Confidence in the sector remains low amid rising construction costs, and the index continues to be at the lowest [...]
Without major reforms French growth will continue to fall short says Capital Economics November 18, 2013 Without major reforms the French economy will continue to fall short of consensus forecasts, according to Capital Economics. The French economy contracted by 0.1 per cent in the third quarter, with exports and investment both falling. While French firms debt to relative to equity and financial assets is lower than the Eurozone average but the [...]
Siemens to supply wind turbines for Dong’s biggest ever investment November 18, 2013 Siemens has secured a multi-million euro deal from Danish Dong Energy, which will see its wind turbine manufacturing subsidiary, Siemens Wind Power, install 97 turbines in Dong's new North Sea wind farms, Gode Wind 1 and 2. The deal is for the largest turbine models ever installed – Siemens' new six megawatt turbines have a [...]
US markets rip higher on open – Dow hits record high of 16,000 November 18, 2013 US equities are soaring on open, with the Dow hitting 16,000 (a record high) and the S&P 500 reaching 1,800. That follows record highs for Germany's Dax and world shares reaching their highest levels since January 2008.
US total net TIC flows drop to $-106.8bn in September November 18, 2013 Net long-term TIC flows in the US for September stood at $25.5bn in September, exceeding expectations of $21.3bn, and following August's fall to $-9.8bn (revised from $-8.9bn). Total net flows, however, declined in the month to $-106.8bn, from $-13.8bn in August. 'TIC' stands for Treasury International Capital, which is used as an indicator to track [...]
Too many European banks surviving says chief regulator November 18, 2013 Too many European banks have survived over the past few years and more should have been wound down, according to a top European banking regulator. The chairman of the European Banking Authority (EBA), Andrea Enria, in an interview on Monday with Allgemeine Zeitung, said: I am convinced that too few banks in Europe have been [...]
Eurozone trade picture remains weak despite surplus widening in September November 18, 2013 The seasonally-adjusted Eurozone trade surplus widened in September from €12.3bn (£10.3bn) to €14.3bn (£11.99bn), extending a near two-year long surplus. However, Jonathan Loynes of Capital Economics says that "weak global demand and the strong euro are holding back exports," and IHS Global Insight's Howard Archer says that net trade may have dragged down third quarter [...]
Shootings in Paris leave man in critical condition November 18, 2013 A gunman has opened fire at La Defense outside the main office of Societe Generale in Paris, according to the French bank's Twitter account. Confirms that one man opened fire in front of the SG towers. No injuries, the police are on site and investigating. — Société Générale (@SocieteGenerale) November 18, 2013 This follows [...]