WASHINGTON, Feb 3 (Reuters) – U.S. Treasury Secretary Jack Lew reiterated to China the importance of transitioning to a market-determined exchange rate in an orderly and transparent way, the Treasury… read more >>> Source : Reuters
Russia’s economy is set to dip deeper into recession according to the latest central bank forecasts. With “substantially lower oil… read more >>> Source : EuroNews.Com
(Reuters) – U.S. private employers added 205,000 jobs in January, above economists’ expectations, a report by a payrolls processor showed on Wednesday. Economists surveyed by Reuters had forecast the ADP National Employment Report would show a gain of 195,000 jobs, with estimates ranging from 160,000 to 235,000. Private payroll gains in the month earlier were […]
I was almost going to just put up my Jan 13th post again. That one was titled “Weak Bounce Wednesday“ and we opened that day at S&P 1,923 after bouncing almost exactly as high as we had predicted in Monday’s (Jan 11) “Meaningless Monday Market Movement.” This is why “Groundhog Day” is one of my […]
BAKU, Feb 3 (Reuters) – Azerbaijan is well placed to overcome its major challenges, including slow growth and balance of payments pressures, if the authorities further strengthen economic policies, a… read more >>> Source : Reuters
Yahoo will cut about 15 percent of its workforce as part of a strategy to turn the troubled Internet company around. The long-anticipated purge announced Tuesday will jettison about 1,500 jobs, close some offices worldwide and explore selling some assets. CEO Marissa Mayer hopes to sell some of Yahoo’s unwanted services for about $1 billion, […]
Housing sales in the Toronto area continued to post strong growth in January, with the number of deals up 8.2 per cent from the same month last year. read more >>> Source : CTVNews.Ca
Finally a move in EUR/USD? The pair is making a break. Is it for real? Just earlier today we talked about the narrowing triangle that closes on EUR/USD and it is finally happening. The timing is peculiar: after a better than expected US figure, the greenback is actually falling across the board. ADP NFP came […]
Chinese state-owned group “ChemChina”:http://www.chemchina.com.cn/en/ is set to buy Swiss seeds and pesticides company… read more >>> Source : EuroNews.Com
BRUSSELS, Feb 3 (Reuters) – European lawmakers on Wednesday backed a compromise deal to reduce car emissions that will still allow vehicles to exceed official pollution limits, defying calls for more radical reform following Volkswagen’s emissions-test cheating scandal. read more >>> Source : Reuters
GlaxoSmithKline reports buoyant sales of new drugs in the three months to December, helping to compensate for declines in older medicines. read more >>> Source : BBC
However, the US dollar ended lower yesterday in the global market against its major rivals on sharp slide in crude oil prices. read more >>> Source : EconomicTimes.IndiaTimes.Com
Bill Gross had a big kid in his high school class (which was, we learned, the Los Altos class of ’62). “Long ago and far away in the adolescent cauldron known as Los Altos High School, I attended a senior U.S. history class with a man-child named Delos Roman,” Gross writes in his latest investment […]
Strong earnings in North America and China and a reversal of fortunes in Europe powered General Motors to a record net profit of $9.7 billion last year. read more >>> Source : CTVNews.Ca
RMT union to recommend acceptance of pay and conditions deal for night Tube service in London, executive decides read more >>> Source : BBC
The Canadian dollar has shown some strength of late, but is falling again on oil prices. Is the end of suffering nigh for the loonie? The team at BTMU explains: Here is their view, courtesy of eFXnews: The performance of the Canadian dollar was all about two factors in January – the price action in […]
A disappointing start to the year for eurozone businesses with the dominant service sector suffering just as much as manufacturing. The results of… read more >>> Source : EuroNews.Com
WASHINGTON, Feb 3 (Reuters) – The United States and its allies conducted 20 strikes against Islamic State in Iraq and 11 Syria on Tuesday, the coalition leading the operations said in a statement. read more >>> Source : Reuters
Lowe’s Canada and Rona will create a retailer with 2015 pro-forma revenue of about $2.28 billion, Lowe’s said on Wednesday. read more >>> Source : CNBC.Com
U.S. stock futures were higher this morning, following oil prices which were rising in early trading. The Dow dropped nearly 300 points Tuesday as U.S. crude tanked 5.5 percent. read more >>> Source : CNBC.Com
They control more than half of the world’s wealth, but who are these ultra-rich individuals? read more >>> Source : BankRate.Com
By Malathi Nayak NEW YORK (Reuters) – Comcast Corp posted better-than-expected fourth-quarter revenue on Wednesday, driven by growth in its media and entertainment unit NBCUniversal in addition to its high-speed Internet and business services divisions. The largest U.S. cable operator and the No. 1 U.S. high-speed Internet provider also raised its annual dividend by 10 […]
Mortgage rates fell last week, but so did record amounts of snow across much of the East Coast. Here’s the connection. read more >>> Source : CNBC.Com
* Chinese yuan at 3-week low after Syngenta deal (Recasts, updates prices) read more >>> Source : Reuters
Another day of low oil prices on the global markets has led to another day of serious losses across Asian stock indexes Wednesday. Japan’s benchmark Nikkei index lost a staggering 3.4 percent, while Hong Kong’s Hang Seng and Australia’s S&P/ASX indexes both finished down over two percent. Wednesday’s losses also spread to Seoul, Shanghai, Taipei […]
* Profit margin rises, beating some analyst forecasts (Adds CEO comment about China strategy) read more >>> Source : Reuters
US car giant Ford announces plans to cut jobs, improve efficiency and save $200m a year in Europe. read more >>> Source : BBC
Lowe’s is buying Canadian rival Rona in a friendly takeover valued at $3.2 billion Cdn, the second acquisition attempt by the U.S. home improvement chain in four years. read more >>> Source : CBC.Ca
The Lowe’s home improvement chain is buying Quebec-based Rona Inc. in a deal valued at $3.2 billion. The friendly deal would make Lowe’s the Canadian leader among home improvement retailers. read more >>> Source : CTVNews.Ca
LONDON, Feb 3 (Reuters) – Glimmers of recovery in oil prices on Wednesday lifted European stock markets off their lows and dimmed the allure of the Japanese yen, gold and ultra-low-risk government… read more >>> Source : Reuters
Global shares stumbled Wednesday after another steep drop in the price of oil reinforced worries about the potential impact on the world economy of job cuts and reduced investment in the energy industry. read more >>> Source : CBC.Ca
The slump in oil is helping the safe haven yen and the euro is lagging behind. The ADP Non-Farm Payrolls and the ISM Non-Manufacturing PMI are key events for today: they serve as the best hints towards Friday’s all important NFP. Commodity currencies remain split, but today’s oil inventories release could certainly have its say. […]
BRASILIA, Feb 3 (Reuters) – Brazilian airline pilots and stewards halted work for two hours on Wednesday in a pay dispute, delaying and cancelling flights across the country days before the start of the carnival holiday season. read more >>> Source : Reuters
China’s central bank will announce its foreign exchange reserves figures later this week, and analysts at Barclays think they may have a shock in store for investors. Barclays analysts, led by David Fernandez in Singapore, estimate China is burning through its reserves faster than ever to pump liquidity into its financial system and prop up […]
EUR/USD is the world’s most popular currency pair and so far in 2016, it earns the “most frustrating pair” award. Since the big Draghi Disappointment of December 3rd, when the pair ranged 460 pips in one day, the pair has seen tighter and tighter ranges. And also a triangle has emerged: downtrend resistance was formed […]
The UK’s dominant services sector maintains its growth in January, according to the latest PMI survey. read more >>> Source : BBC
The European economy is set to lose around €100 billion (£76 billion, $109 billion) if officials decide to re-establish border controls within the Schengen Area. That’s according to the French government’s economic planning agency France Strategie, which released its warning this morning in a note entitled “Policy Brief – The Economic Cost of Rolling Back […]
* Chinese yuan at 3-week low after Syngenta deal (Updates prices, adds comments) read more >>> Source : Reuters
BEIJING, Feb 3 (Reuters) – China said on Wednesday the United States was just looking for excuses to pump taxpayers’ money into its military, after U.S. Defense Secretary Ash Carter named China as a reason for seeking a $582.7 billion defence budget next year. read more >>> Source : Reuters
Canadian consumers are more inclined to reach for their smartphones and credit cards over bills and coins to make purchases, according to a new study. read more >>> Source : CTVNews.Ca
David Cameron finally showed the public his draft proposal to change the UK’s relationship with the European Union on Tuesday — and was immediately showered with criticism from the public, the opposition, and even politicians within his own party. But there’s one investment bank, Bank of America Merrill Lynch, that thinks the EU deal will […]
EURUSD Daily Analysis EURUSD (1.091): EURUSD continued its ascent after testing down to the previous support near 1.0816 – 1.0834 support to rally back to the neckline resistance of the inverse head and shoulders pattern formed on the 4-hour chart. Failure to clear the resistance between 1.095 – 1.093 could signal another leg lower down […]
SEOUL, Feb 3 (Reuters) – South Korea’s transport ministry said on Wednesday it would instruct airplanes to avoid flying in the areas that could be affected by North Korea’s planned rocket launch. read more >>> Source : Reuters
MORE than £5billion was wiped from oil giant BP’s market value yesterday as it revealed thousands more job losses in the face of plunging oil prices – which sent it sliding $6.5billion into the red last year. read more >>> Source : The Daily Express
MOSCOW, Feb 3 (Reuters) – Russian Economy Minister Alexei Ulyukayev said on Wednesday Austrian companies were welcome to take part in Russia’s new wave of cash privatisations. read more >>> Source : Reuters