Analysts say US Fed is like a virus which learns and adapts November 25, 2013 Ashmore analysts have likened the US Federal Reserve to a virus, which will try its hand at harder medicine after markets ignored chairman Ben Bernanke's verbal guidance in May. They expect the Fed to attempt to begin tapering of QE – a reduction in the rate of expansion of the monetary base – in early [...]
What you need to know before the open – 25/11 November 25, 2013 European markets are expected to rise this morning after gains in Asia and another record finish in the US. Sentiment has also received a boost from the deal with Iran regarding its nuclear programme. Brent crude prices started the week down 2.5 per cent. Morning all. There's a bit going on early doors. Could [...]
What you need to know before the open – 22/11 November 22, 2013 After another record close for the Dow yesterday, Europe is set to open higher, as consensus is that tapering looks more likely for the New Year than December. #FTSE called 10 higher this morning. #EURUSD has rallied to resistance at 1.3490. #Gold has been steady overnight around 1245. Morning all! — FuturesTechs Updates (@FuturesTechs) [...]
New York Report: Dow ends over 16,000 for first time in history November 21, 2013 THE DOW industrials closed above 16,000 for the first time last night as stocks rebounded from three days of weakness, after economic data pointed to a slowly improving labor market and subdued inflation. Financial shares led the market to its first day of gains after three sessions of losses. Although investors remain unsure about the [...]
Fed on track to get first female chair as Senate Banking Panel votes 14-8 to approve Yellen November 21, 2013 The Senate Banking Panel has voted 14-8 to approve Janet Yellen as Federal Reserve chief. Now the nomination will head to the full Senate. Yellen would be the Fed's first female chair, as the successor to incumbent Ben Bernanke. Obama's Democrats hold 12 of the 22 seats on the panel.
French farmers block Paris highways with tractors in tax revolt November 21, 2013 French farmers are blocking highways around Paris in protest of punitive taxes and plans to reform European agricultural subsidies. The Paris tractor blockade comes only weeks after violent protests in Brittany led to the postponement of the so called "ecotax" by six months. The ecotax would be levied on vehicles carrying more than 3.5 tonnes. [...]
What you need to know before the open – 21/11 November 21, 2013 Europe is set to open lower this morning as speculation mounts over the US December taper. ETX Capital #morningcall: FTSE100 off 23 points, the DAX lower by 45 points and the CAC40 off by 20 points — ETX Capital (@ETXCapital) November 21, 2013 The Fed October meeting minutes, release last night, hinted that [...]
America is slashing spending – but its economy is still growing November 20, 2013 IF you want to see what real austerity looks like, take a trip to the US. Real federal spending is set to slump by six per cent in the fourth quarter, compared with the same period a year ago, according to Goldman Sachs. That is a massive reduction, more than George Osborne wants to push [...]
Option for 2013 taper left open by Fed minutes November 20, 2013 THE RATE-setting Federal Open Market Committee left the possibility of tapering quantitative easing (QE) as soon as December on the table in its last meeting, according to minutes released yesterday. The US Fed’s FOMC said that continued improvements to the US job market would “warrant trimming the pace of purchases in coming months,” suggesting that the [...]
New York Report: Fed minutes drive Wall St into reverse November 20, 2013 US stocks fell yesterday after minutes from the Federal Reserve’s last meeting said the central bank could begin to scale back its stimulus program at one of its next few meetings. While Fed officials said such a move would happen only if economic conditions warranted it, some analysts said the minutes suggested the central bank [...]