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Better Data Drives Risk On, Fed QE3 Off
The Week Ahead
Highlights
Better data drives risk on, Fed QE3 off
Still waiting on a Greek debt deal
Central banks' decisions on tap
Better data drives risk on, Fed QE3 off
The past week ended with a string of better-than-expected data releases from key major economies, suggesting the global recovery may avoid a more worrisome downturn. Mostly better than expected PMI's from Europe, UK, China and the US were supplemented on Friday by a much stronger US employment report than was ...
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Dollar up versus yen on U.S. jobs data, holds steady versus euro
Robust U.S. jobs data spurred investors to buy the U.S. dollar and sell yen on Friday with the rosier economic report curtailing some expectations the U.S. Federal Reserve will hold off raising interest rates until 2014.
The strong jobs data diminished the greenback's safe haven status as investors took on more risk. The main beneficiary was the euro where initial losses on the report were erased by the end of trade despite the overhang of Europe's sovereign debt crisis.
Data from the U.S. ...
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Oil up sharply on U.S. jobs surge, Iran
Brent crude prices rose to a near three-month peak on Friday in heavy volume trading after a report showed the U.S. economy in January created jobs at the fastest pace in nine months, fueling hopes of stronger demand in the top petroleum-consuming nation.
Both Brent and U.S. crude extended gains late as the euro recovered against the dollar and as oil investors covered short positions ahead of the weekend, eyeing simmering tensions between tensions with the West over Tehran's nuclear program.
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Buying Gold in Uncertain Times
Dow down slightly yesterday. Oil falling further below $100. And gold still going up.
What is most interesting is the movement in the price of gold. It seems to be heading up again — almost no matter what else is happening.
So, let’s look at what might be going on…
If investors sensed a recovery…they would expect banks to lend more freely…people to shop more freely…and prices to rise.
This would raise consumer prices; the price of gold should go up.
But if the market sees growth and ...
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Central Banks - Still Easing for Now
Economic Data Analysis
Central Banks - Still Easing for Now
Ongoing negotiations over Greek bail out, with ECB standing pat ahead of next LTRO.
MPC likely to continue QE with further £50bn, but difficult judgements lie ahead.
RBA to cut rates this week; easing Chinese inflation pressures could herald PBoC loosening.
Another week closes with the promise of a deal on the Greek PSI debt swap. The urgency for such a deal is rising with a hard deadline of 13 February approaching. The ...
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Oil prices up on U.S. jobs growth, Iran threat
Oil prices rose on Friday after a government report showed the U.S. economy in January created jobs at the fastest pace in nine months, fueling hopes of stronger demand in the top petroleum-consuming nation.
Crude futures rose further on the jobs report, extending gains made after Iran's supreme leader warned of retaliation over "threats of oil embargo and war."
Brent March crude rose $1.33 to $113.40 a barrel by 12:47 p.m. EST, up for the fourth straight day, trading from $111.93 to $113.88 ...
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Central bank liquidity tap to stay open
After a blockbuster January for both equities and bonds - rallies that caught many in the market by surprise - investors will be paying keen attention to the world's central banks in the coming week for signs of continued easy money.
They will also be closely watching negotiations over a second bailout deal for Greece, while Chinese data on trade and inflation and a heavy week of corporate earnings all lie ahead.
Investors are having to adjust quickly to signs that global economic growth, ...
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Currencies Mixed After The Big NFP
After a quiet start for today’s session, where currencies were trading within a tight range in anticipation for the king of reports; the main risk-event for today in the form of the employment report; the NFP came to break the silence as it screamed 243,000 new jobs were surprisingly added to the economy, the numbers came way off market consensus of 150k. The unemployment rate slipped to 8.3% from 8.5 in December, while economist expected a steady rate at 8.5%. These positive numbers were ...
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Ruble Decline After Bank Rossii Keeps Rates Unchanged
The Russian slid today as Russia’s central bank kept its main interest rates unchanged and crude oil, the main nation’s export, traded near the lowest level in six months.
Bank Rossii left its key refinancing rate at the same level today. The bank said in the statement:
The decision was supported by the assessment of inflation risks and risks of economic growth slowdown, including those associated with the global economic uncertainty.
The statement mentioned some positive fundamentals, ...
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