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Euro Continues To BenefitTitle:
Have the U.S economy Expanded by 2.4 percent in the Third Quarter or is it just too Elusive?
The world's largest economy prepares to unwrap more surprises this week, following a week full of events in fact, as the U.S economy returns with much more important fundamentals covering most of the key sectors where we'll be watching the release of the third-quarter GDP estimates, income and housing data along with two gauges of consumer sentiments, besides more U.S companies will announce quarterly earnings in the next five days.
If truth be told, we are standing on a threshold of a hectic week, especially as markets are closely awaiting new signs of progress over the U.S economy while many companies managed to post solid quarterly earnings so far, but at the meantime, mixed vibes and growing uncertainty continue on straining market trading, while Europe’s debt crisis remain in focus ...
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Weekly Economic and Financial Commentary : 21/10/2011
Weekly Economic and Financial Commentary : 21/10/2011
U.S. Review
Neither Doom nor Boom: Moderate Growth Is the Story
The triumph of thoughtful analysis over hype continues. This week's data on leading indicators, jobless claims, housing starts and the Philadelphia Fed survey suggest moderate growth ahead.
Yes, problems do remain - existing home sales - and other problems persistent beyond the expectations (promises?) of policymakers - inflation and high unemployment.
On balance, the outlook remains for moderate economic growth with the accompanying three problems of housing, employment and government restructuring.
Cyclical Recovery-Structural Drags
This week's economic data on leading indicators, jobless claims, housing starts and the Philadelphia Fed survey suggest that ...
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Commodity traders: The trillion dollar club
NEW YORK (Reuters)- For the small club of companies who trade the food, fuels and metals that keep the world running, the last decade has been sensational. Driven by the rise of Brazil, China, India and other fast-growing economies, the global commodities boom has turbocharged profits at the world's biggest trading houses.
They form an exclusive group, whose loosely regulated members are often based in such tax havens as Switzerland. Together, they are worth over a trillion dollars in annual revenue and control more than half the world's freely traded commodities. The top five piled up $629 billion in revenues last year, just below the global top five financial companies and more than the combined sales of leading players in tech or telecoms. Many amass speculative positions worth ...
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Factory, jobs data offer hope for economy
(Reuters) - Factory activity in the U.S. Mid-Atlantic region rebounded in October and the number of Americans claiming new jobless benefits fell last week in fresh signs that the economy was likely to duck a new recession.
Optimism over the economy was tempered, however, by other data on Thursday showing a drop in sales of previously owned homes and only a small rise in a gauge of future growth.
"The numbers we have seen today provide some hints that the domestic economy is doing a little bit better, even with the challenges that are unfolding in Europe," said Michael Strauss, chief economist at Commonfund in Wilton, Connecticut.
Initial claims for state unemployment benefits slipped 6,000 to 403,000 last week, the Labor Department said. A four-week average, which smooths out weekly ...
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Dollar Losses Limited, Markets Expecting Heightened Volatility
Liquidity will likely be higher in today's early trading as several events are being published in rapid succession from Britain, Canada and the US. American liquidity will be heightened, and Great Britain will contribute to today's movements with its retail sales figure.
Economic News
USD - US Dollar Bearish, but Downturn Limited
The US dollar (USD) was seen trading mildly bearish early Thursday as traders viewed comments by the Fed as a sign of potentially impending hawkish moves on the policy front. The sudden jolt to risk appetite generated by such movement pushed down on the greenback, but seems to have lifted following a string of reports out of the US today which could reverse much of the markets recently acquired short-term stability.
Data from the American housing market ...
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Risk sentiment opens on a better footing in Europe despite disappointing headlines overnight
FUNDAMENTAL OUTLOOK at 0800 GMT (EDT +0400)
USD
Risk sentiment has opened on a better footing in Europe despite disappointing headlines overnight. Initially the euro jumped sharply during the US session after The Guardian newspaper reported that France and Germany have agreed to create a leveraged EFSF worth EUR 2 trn. All gains were surrendered after the report was quickly denied by other wires. Adding to the mix, Moody’s downgraded Spain‘s sovereign rating by two notches to A1, taking it one notch below both S&P and Fitch. There was surprisingly little reaction in the euro, perhaps because attention is now squarely focused on the policy initiatives that may emerge from Friday’s meeting of Eurozone finance ministers and Sunday’s EU summit.
EUR
Moody’s downgraded Spain two notches to ...
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British Inflation Suggests Stronger Pound
With yesterday's inflationary data out of Britain, it seems the pessimism in Europe isn't trickling across the English Channel, at least for now. Holiday spending and recent upticks in manufacturing should shore up the pound's advances this month.
Economic News
USD - Dollar Trading Sideways as Optimism Dominates Trading
The US dollar (USD) was seen trading mildly bullish Tuesday as investors weighed the impact of recent PPI and investment reports from the American economy. A sudden wave of risk appetite last week seemed to have pushed down on the USD, but pessimism emerging early this week held back some of those losses.
Data on inflation and investment yesterday also signaled a mild uptick in outlook from the previous month. The news has had some impact on the forex market, though it ...
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Economic Data Posits Risk Taking This Week
Confidence and trade reports from the US and Canada last week portrayed a global economy somewhat stronger than what many had expected. The balance of imports to exports last Friday revealed a growing market, with smaller deficits, as businesses across the United States and Canada begin seasonal hiring for the holidays.
Economic News
USD - US Dollar Dips as Trade Data Supports Growth
The US dollar (USD) was seen trading mildly bearish Monday morning as traders saw a small decline in risk aversion following last week's economic reports. The EUR/USD rose following the completion of a long-term consolidation trend, reaching a 4-day high. The GBP/USD saw somewhat higher gains, with the greenback inching the pair towards last week's early high.
Confidence and trade reports from the US and ...
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'Do or Die' for Eurozone Debt Crisis
The Week Ahead
Highlights
'Do or die' for Eurozone debt crisis
Risk rebound continues
'Do or die' for Eurozone debt crisis
G-20 finance ministers are meeting this weekend to lay the groundwork for the Nov. 3 summit in Cannes, while European leaders continue negotiations ahead of their pivotal summit on Oct 23. We don't expect too much to come from this weekend's G-20 in terms of initiatives, but we think the group is likely to reinforce the global pressure on the Europeans to deliver on promises of a comprehensive solution to the debt crisis. Markets have given EU leaders the benefit of the doubt, but they still need to come up with a credible program as the environment is ripe for disappointment.
The key issue they need to resolve is the effective lending capacity of the EFSF ...
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