The dollar majors have been mixed in quiet trade today in the absence of U.S. and Canadian markets, with the greenback currently trading within 10 pips of Friday’s closing levels against the euro and Australian dollar, while showing about a 40 advance …
China’s Economy Not Likely To ‘Crash’ Fears Are Overblown Over the past several weeks and months and into this holiday weekend we have heard a lot of Noise about China’s weak economy. But investor fears “are vastly overblown” that its economy will crash. Stephen Roach, a senior fellow at Yale University and former Morgan Stanley non-Executive Chairman […]
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The Summation Of All Stock Market Fears $SPY A way of measuring the cumulative state of market internals is by the McClellan Summation Index. The Summation Index is an oscillator that expresses the longer-term status of advances-declines, new highs-lows, etc. as either positive (above a zero line) or negative (below the zero line). While it […]
China’s FM Did Not Say Much At G-20 Meeting Global finance chiefs sought to contain tensions over currency movements with China suggesting its August devaluation will not be repeated any time soon and Japan labeling the Chinese unhelpful. Zhou Xiaochuan, governor of China’s central bank, told a meeting of Group of 20 finance ministers in […]
Expect More Damage Ahead For US Stock Prices Even after last week’s dive, Robert Shiller’s CAPE (cyclically-adjusted P/E Ratio) for the S&P 500 index, which accounts for 10 yrs of earnings, still stands at 24.9. That is not far from its recent high, which trailed only the pre-crash periods of Y’s 1929, 2000 and 2007. […]
UAE Real Estate Market Feeling Pinch Of Low Crude Oil Prices $OIL Dubai, Abu Dhabi and Sharjah recorded a drop in property values as Crude Oil prices dove by over 50% in the last 12 months The real estate market in the United Arab Emirates (UAE) is beginning to feel the effect of low Crude […]
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Investing In Volatile, Toppy Market Require Extreme Care $DIA, $SPY, $QQQ Marc Faber, publisher of “The Gloom, Boom & Doom Report,” warns that the volatile US stock markets have “reached some kind of tipping point.” “The markets have moved sideward for essentially the last 12 months and this year, when the crash really happened, we […]
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FXStreet (Edinburgh) – Analyst Carlijn Prins at Rabobank believes the ‘Old Lady’ could start its hiking cycle in May of next year.
“Like all other central banks, the BoE will be carefully evaluating the impact of China’s economic slowdown and increased market volatility on the UK economy”.
“While these factors could be sufficient to steady the hands of some of the MPC hawks in the next couple of months, it seems possible that three members of the committee could be voting for an immediate rate hike by the end of the year”.
“That said, last month the BoE revised down its inflation forecasts and, in view of weak commodity prices, it could still be some time before CPI inflation returns to the Bank’s 2% target”.
“Governor Carney has stressed that the timing of the central bank’s first move will begin to come into focus around the end of the year but, as fundamentals currently present themselves, we do not expect a majority vote in favour of a rate hike until May 2016”.
Analyst Carlijn Prins at Rabobank believes the ‘Old Lady’ could start its hiking cycle in May of next year…
(Market News Provided by FXstreet)
SRI LANKA CENTRAL BANK TELLS CURRENCY DEALERS IT WILL FLOAT RUPEE LKR= BY NOT QUOTING SPECIFIC RATE FROM FRIDAY- MARKET SOURCESThe material has been provided by InstaForex Company – www.instaforex.com
FXStreet (Edinburgh) – The US Dollar Index, which gauges the greenback vs. its main competitors, keeps the area of session tops near 96.40 on Thursday.
US Dollar propped up by data, ECB
The upside momentum in the greenback has accelerated in response to the dovish tone struck by President M.Draghi at today’s ECB gathering and subsequent press conference.
Bolstering the upbeat sentiment further, US trade balance figures showed a lower than expected deficit during the last month, while both Markit’s Services PMI and the ISM Non-manufacturing have surprised markets to the upside during the same period.
All eyes will now be on the Non-farm Payrolls due tomorrow, as a positive print could add to the ongoing optimism of a Fed’s lift-off this month.
US Dollar levels to consider
At the moment the index is up 0.57% at 96.37 with the next hurdle at 96.52 (high Sep.3) followed by 96.57 (high Aug.20) and then 97.07 (high Aug.19). On the downside, a break below 95.19 (low Sep.1) would aim for 94.99 (low Aug.24) and finally 93.92 (low Aug.26).
The US Dollar Index, which gauges the greenback vs. its main competitors, keeps the area of session tops near 96.40 on Thursday…
(Market News Provided by FXstreet)