US economy adds more jobs than expected in October November 8, 2013 "First Friday" jobs day is back in the US with nonfarm payrolls jumping up 204,000 in October, after analysts predicted a 125,000 gain, and a previous figure of 163,000 (revised up from 148,000). The unemployment rate in October was up 7.3 per cent, in line with expectations – up from September's 7.2 per cent increase. [...]
What you need to know before the open – 08/11 November 8, 2013 Losses in both the US and Asia, after Twitter's strong debut onto the New York Stock Exchange sparked fears of a brewing tech bubble, will see the FTSE100 open -35pts at 6660, says Mike van Dulken, head of research at Accendo Markets. Morning call: we are calling the #FTSE +7 at 6753. — DavidMadden_IG (@DavidMadden_IG) November [...]
Strong growth in US economy beats forecasts November 7, 2013 THE US economy grew well ahead of expectations in the third quarter of the year, expanding by 2.8 per cent on an annualised basis, according to the first official estimate. Though the figures revealed a slowdown in personal consumption yesterday, a rise in inventories allowed for a quicker pace of growth. The rate was faster [...]
The ECB sees prolonged period of low inflation and will continue LTROs into 2015 November 7, 2013 European Central Bank (ECB) president Mario Draghi has spoken this afternoon about the ECB's decision to cut its main interest rate from 0.5 per cent to 0.25 per cent. He said that the committee unanimously agreed they needed to act, but there was disagreement as to when. The committee, he said, judged significant inflation changes [...]
Will the ECB do anything helpful today? November 7, 2013 In just over an hour, European Central Bank (ECB) president Mario Draghi will speak on the back of the ECB's rate decision, against a background of weak demand and falling prices across the euro area. Michael van Dulken of Accendo Markets says that there is "much uncertainty" as to whether the ECB will "offer anything [...]
What you need to know before the open – 07/11 November 7, 2013 A couple of things of note today. We've got US GDP and, at the same time, European Central Bank president Mario Draghi will be speaking. The press conference will be interesting in terms of what Draghi has to say, after the mounting speculation as to whether the bank will cut rates today or hold off [...]
Surprise fall in retail sales show Eurozone consumers are still cautious November 6, 2013 Eurozone retail sales suffered a surprise fall of 0.6 per cent month-on-month in September, after a rise of 0.5 per cent in August. A poll of analysts conducted by Reuters had expected a decline of 0.4 per cent. IHS Global Insight's Howard Archer comments that, despite a recent firming in retail sales (they rose 0.6 [...]
What you need to know before the open – 05/11 November 5, 2013 We should see another positive start this morning after the Fed's James Bullard did very little to raise expectations of an imminent taper for the US yesterday. Cable $1.5968, €/$1.3498, $/¥98.43 – Gold – $1315.33 – Nymex -$94.73, Brent $106.38 – European opening calls – FTSE +17, DAX +10, CAC +5 — David Buik (@truemagic68) [...]
New York Report: Blackberry hits a 10-year-low with new boss November 4, 2013 US STOCK indexes were little changed yesterday in belowaverage trading volume, while shares of Blackberry plummeted to a 10-year low after the company replaced its chief executive. US-listed shares of Blackberry tumbled 17.2 per cent to $6.43 a share after the smartphone maker said it was abandoning a plan to sell itself. With yesterday’s drop, [...]
DailyFX: Analyst picks November 4, 2013 CURRENCY STRATEGIST CHRIS VECCHIO My pick: Selling rallies in euro-dollar and sterling-dollar Expertise: Fundamental and technical analysis Average time frame of trades: A few hours to a few weeks The US dollar has strengthened over the past few days on the back of steadily rising Treasury yields. The yield curve has exhibited signs of repricing [...]