US inflation soft as consumer price index climbs in line with expectations October 30, 2013 The US consumer price index for September met expectations, increasing 0.2 per cent, following August's 0.1 per cent rise. Excluding food and energy, though, prices went up by only 0.1 per cent for the month – the same increase as in August and below the consensus prediction of a 0.2 per cent rise. All the [...]
What you need to know before the open – 30/10 October 30, 2013 US equity markets saw another record close yesterday, and the German DAX continues to break records, too. European stocks were marginally behind. Asian markets closed up today. Yesterday, the ECB's Ewald Nowotny ruled out the prospect of further rate easing in Europe in the near future. ETX Capital #morningcall FTSE +19, DAX +20, CAC [...]
Dow Jones at all-time high October 29, 2013 US STOCK markets closed at record highs last night on the expectation of ongoing money printing from the Federal Reserve. The government shutdown hit consumer confidence, indicating the economy may slow a little and so the Fed will keep its stimulus programme running at full tilt for longer, pumping up markets. The Dow ended the day up [...]
New York Report: S&P 500 and Dow hit highs over Fed news October 29, 2013 THE DOW and S&P 500 ended at record highs yesterday after economic data supported views that the Federal Reserve would keep its stimulus intact for several months and IBM rallied after the company announced a stock buyback. IBM gave the biggest boost to the Dow, which led the day’s gains. The stock, which also helped [...]
What you need to know before the open – 29/10 October 29, 2013 Despite all-time highs for US markets yesterday, it was a mixed finish as the Fed meeting – due to begin today and finish tomorrow – is considered. Asian markets closed lower, too, as investors waited for the policy meeting. European markets are expected to look just as subdued this morning. ETX Capital #morningcall FTSE -4, [...]
Banks too scared to be honest with regulators October 28, 2013 BANKS are wary of being honest with the authorities for fear of immediate reprisals, Barclays’ chairman said yesterday, warning that relationships between lenders and supervisors have broken down dangerously. Sir David Walker said “trust and respect” is needed in the relationships, and that bankers “need to be able to trust what [they] say to regulators [...]
New York Report: S&P 500 closes at record figure on US Fed talks October 28, 2013 THE S&P 500 closed at another record high yesterday as expectations were lifted that the Federal Reserve will keep its stimulus in place when it meets this week. But the overall market was little changed, with the Dow and Nasdaq ending down slightly, after the recent sharp run-up in the stock market lost some momentum. [...]
CNBC Comment: Caution reigns over Fed taper decision October 28, 2013 WITH Christmas just around the corner (according to one retail analyst, seasonal merchandise has been on the shelves since early August – a new record), markets are now focusing on the final quarter of the year. The Federal Open Market Committee’s meeting tomorrow will be closely watched for hints about how far away the Fed’s [...]
DailyFX: Analyst picks October 28, 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 Yen crosses have been volatile this past week, and both my long Australian dollar-yen and short dollar-yen have seen an uptick in volatility – in the wrong direction [...]
Dallas Fed: October sees less optimism of business conditions but manufacturing activity strengthens October 28, 2013 Perceptions of business conditions in Texas were less optimistic in October, as the Dallas Fed manufacturing business index came in at 3.6 – still positive, but down from last month's reading of 12.8. Texas produces more than 11 per cent of total manufactured goods in the US, putting it second behind California in factory production. [...]