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Stock Market & Financial Investment News

News For NOSYMBOL From The Last 14 Days
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December 16, 2014
09:20 EDTThe 1.6% November U.S. housing starts drop
The 1.6% November U.S. housing starts drop to a 1.028 M clip defied much of the expected weather-hit thanks to a hefty bounce in activity in the West, while permits fell 5.2% to a still respectable 1.035 M. Home completions fell 6.4%, with a shortfall in the Northeast and Midwest, that marked the only clear weather-impact. Analysts saw solid growth in housing starts "under construction" that guides GDP forecasts. Harsh weather began in the second week of November, but it had little apparent impact on the jobs data from the BLS survey week and on today's starts and permits data, though the utility figures from the last industrial production report revealed a massive 5.1% surge, and completions have posted a 9.2% two-month drop. Starts and permits are poised for quarterly rates of 1.031 M and 1.052 M respectively that still reflects a net weather-hit, after prior rates of 1.030 M for both in Q3 (was 1.031 for starts). Analysts still assume that weather at least partly disrupts the November data for new and existing home sales, as well as construction spending, alongside the flat November construction hours-worked figure.
09:10 EDTEuro$ interest rate options: after a very slow start
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08:50 EDTFX Action: The dollar moved lower
FX Action: The dollar moved lower after the housing starts data, which were largely in line with consensus. EUR-USD rallied toward 1.2535 from 1.2510 as USD-JPY eased into 116.25 from 116.50. The dollar has since recovered most of its knee-jerk losses. Equity futures have recovered some of their losses since the N.Y. open, while yields are off their lows as well. NYMEX crude meanwhile, has posted fresh trend lows of $53.69.
08:45 EDTU.S. housing starts fell 1.6% to 1.028 M in November
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08:45 EDTTreasury Action: yields rebounded from lows
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08:42 EDTBernstein utilities analyst holds an analyst/industry conference call
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08:35 EDTStock futures show little interest in housing data
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08:30 EDTOil Action: NYMEX crude is trading at $54.00
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08:15 EDTU.S. Housing Starts Preview
U.S. Housing Starts Preview: November housing starts should reveal a 1.9% headline decline to a 990k (median 1,025k) pace for the month from 1,009k in October. Also in the release will be permits which should decline to 1,010k from 1,092k in October and completions which are seen rising to 900k from 881k in October.
08:10 EDTCanada Manufacturing Preview
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08:00 EDTU.S. ICSC Goldman Sachs chain store sales index posted a 3.0% rebound
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07:58 EDTBoard of Governors of the Federal Reserve to hold a closed meeting
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07:56 EDTFDIC to hold a meeting
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07:48 EDTFDA Food Advisory Committee to hold a meeting
The Committee discusses science issues surrounding susceptible life stages or populations and circumstances under which the FDA might decide to conduct a separate risk assessment for these populations in a meeting being held at FDA Silver Spring, Maryland offices on December 16 at 8:30 am. Webcast Link
07:35 EDTTreasury Market Outlook: Treasuries are sharply higher in a flight to quality
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07:32 EDTThe Federal Open Market Committee (FOMC) holds a meeting
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07:31 EDTWolfe Research to hold a conference
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07:25 EDTFX Action: The JPY is surging, and the RUB is plunging
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07:10 EDTFX Update: USD-JPY drove broader dollar declines
FX Update: USD-JPY drove broader dollar declines, while strong Eurozone PMI data supported EUR-USD. USD-JPY touched a low of 116.22, the lowest since Nov-17 and some 140 pips down on yesterday's closing level. A lot of commentaries pointed to the extended losses in Japanese stock markets, with the Nikkei closing 2% down today, as driving the yen higher. A mixture of interbank and speculative selling, along with sell-stop orders were also in the mix. Weak PMI figure out of China weighted on stocks in Asia, though equities managed to recover from a six-day losing streak in Europe. EUR-USD, meanwhile, logged a three-week high of 1.2528 in the wake of the PMI data. As from the data influences, there has also been a dollar-negative narrative in markets that says the recent dive in oil prices will strengthen the voice of the doves at the Fed's FOMC this week (announcement Wednesday), though analysts still expect the "considerable time" phrase to be dropped. AUD-USD scraped out a fresh four-year low of 0.8200 before recovering to the mid-0.82s. The minutes to the RBA's December meeting repeated that rate stability is likely most prudent course and that a further fall in currency is needed for economy. Cable rebounded recovered the 1.57 handle after a post-data dip to 1.5610, even though UK November CPI fell to 1.0%, the lowest since September 2002.
07:05 EDTFX Update: USD-JPY drove broader dollar declines
FX Update: USD-JPY drove broader dollar declines, while strong Eurozone PMI data supported EUR-USD. USD-JPY touched a low of 116.22, the lowest since Nov-17 and some 140 pips down on yesterday's closing level. A lot of commentaries pointed to the extended losses in Japanese stock markets, with the Nikkei closing 2% down today, as driving the yen higher. A mixture of interbank and speculative selling, along with sell-stop orders were also in the mix. Weak PMI figure out of China weighted on stocks in Asia, though equities managed to recover from a six-day losing streak in Europe. EUR-USD, meanwhile, logged a three-week high of 1.2528 in the wake of the PMI data. As from the data influences, there has also been a dollar-negative narrative in markets that says the recent dive in oil prices will strengthen the voice of the doves at the Fed's FOMC this week (announcement Wednesday), though analysts still expect the "considerable time" phrase to be dropped. AUD-USD scraped out a fresh four-year low of 0.8200 before recovering to the mid-0.82s. The minutes to the RBA's December meeting repeated that rate stability is likely most prudent course and that a further fall in currency is needed for economy. Cable rebounded recovered the 1.57 handle after a post-data dip to 1.5610, even though UK November CPI fell to 1.0%, the lowest since September 2002.
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