DailyFX: Analyst picks October 21, 2013 CURRENCY STRATEGIST CHRIS VECCHIO My pick: Short dollar-yen, long Aussie-yen Expertise: Fundamental and technical analysis Average time frame of trades: A few hours to a few weeks My dollar-yen short remains viable, despite cooling US fiscal tensions, as the Fed is unlikely to taper in October. US yields should remain under pressure (if not capped). [...]
Fed’s Evans sees tapering delayed after Washington battle October 21, 2013 Federal Reserve dove Charles Evans has said that tapering is going to take longer as a result of the US government standoff, saying that the Fed "needs to do whatever is necessary". A little spin on the "whatever it takes" line we're so familiar with central bankers spouting. Evans said that he doesn't think about [...]
What you need to know before the open – 21/10 October 21, 2013 With US data restarting this week, it's back to business as usual. A record week for US markets last week, we also saw European counterparts looking positive. *Nikkei Ends Up 0.9% at 14,693.57 underpinned by a strong performance on Wall Street and expectations Fed will delay trimming its stimulus. — Holger Zschaepitz (@Schuldensuehner) October 21, [...]
An absent US resolution leaves commodities gloomy October 18, 2013 With no enduring resolution to the US debt ceiling debate, commodities will remain in the doldrums, says Goldman Sachs. The investment bank warns that the uncertainty around the debt ceiling is being viewed as an extension of QE, with delays on a tapering decision complicating the Fed's reaction function. It isn't clear whether the absence [...]
What you need to know before the open – 18/10 October 18, 2013 Markets in Europe are expected to open up this morning following another record close on the S&P500 last night. With a 16-day shutdown over and the possibility of a default put off for the time being, taper talks are resuming in the US but it's unlikely that anything will happen before the next debt ceiling [...]
Will they/Won’t they? US macro data may not be released for weeks as government reopens October 17, 2013 We've been more or less flying blind without US macroeconomic data during the shutdown – now market watchers are trying to work out when new data will be released. Analysts at Deutsche Bank have suggested that we're going to see all of those reports hit at once. Brett Ryan of Deutsche Bank said that "when [...]
US manufacturing sees dip in October from September’s surge October 17, 2013 Manufacturing performance in the US remains good but is slightly depressed this month, as the Philadelphia Fed manufacturing survey comes in at 19.8 for October, falling from September's 22.3 surge but exceeding expectations of 15.0. Growth was seen in new orders, shipments (20.4, down only slightly from 21.2) and employment (15.4, from 10.3), with indicators [...]
What you need to know before the open – 17/10 October 17, 2013 After a 17-day stalemate, last night's deal to raise the debt ceiling and re-open the government might mean that a political point has been made in the US, but it may also mean we see markets looking a little under the weather this morning. Global markets will follow the US lead today: Asian markets are [...]
This crisis has been averted but the debt clock is still ticking October 16, 2013 SO IT appears to be a case of crisis deferred: as I write, the US seems sure to avoid default, for the next few months anyway. A temporary deal has been cobbled together; the big losers, it appears, are the Republicans who didn’t get anything meaningful. Yet the mad charade of the past few days [...]
Fitch threatens US rating as debt talks enter final day October 15, 2013 WITH just a day left until the US Treasury reaches the debt ceiling, the country’s politicians remained gridlocked last night, lacking a crucial deal to prevent a financial default. Credit ratings agency Fitch placed the country’s current AAA rating on negative watch, saying that “prolonged negotiations” over the debt ceiling undermine “confidence in the role [...]