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Stock Market & Financial Investment News

News For NOSYMBOL From The Last 14 Days
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August 19, 2015
04:50 EDTFX Action: USD-CAD has ebbed further
FX Action: USD-CAD has ebbed further into a three-day low territory, making 1.3024 earlier amid a backdrop of steadier-to-firmer oil prices following a period of losses. Front-month NYMEX crude has lifted back above $43, up from a low at $42.63, though remains shy of yesterday's five-day peak at $43.38. The U.S. dollar has also lost some of its shine as expectations for a September Fed rate hike have been softening giving the rekindled concerns about the Chinese and broader emerging market economies. The technically picture of USD-CAD, meanwhile, is looking increasingly less robust, with upside momentum waning notably over the last couple of weeks. Key support is at 1.2950-52. Resistance is at 1.3057-60 and 1.3125-26.
03:45 EDTChinese stocks recovered most intraday losses
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03:35 EDTThe Chinese economy recession and a EM debt crisis now principal concerns
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02:40 EDTFX Update: Another Asia session of relatively limited ranges
FX Update: Another Asia session of relatively limited ranges for the main currencies. The dollar traded modestly softer after gaining yesterday. EUR-USD lifted from yesterday's low of 1.1017 to levels above 1.1050, while USD-JPY ebbed from the 124.40-45 area to the 124.25-35 area, remaining just above yesterday's 124.18 low. Chinese stock markets wobbled again, though the Shanghai Comp had recovered to a net loss of 1.9% at the time of writing, having shown more than a 4% decline at intraday lows. With emerging market stocks trading at four-year lows, the latest investor sentiment survey from BoA-Merrill found that a recession in China and a broader EM debt crisis have eclipsed a Eurozone breakdown as the principal concerns. Against this backdrop, AUD-USD made a new week low at 0.7314, though managed to rebound above 0.7330. BoE MPC's Miles, who has recently become hawkish, said that the turning point on rates is coming pretty soon, but to little impact as he is leaving on Aug-31 to be replaced a Gertjan Vlieghe, who is widely consider as likely to join the more dovish majority at the MPC.
August 18, 2015
16:59 EDT 4-Week Bill Auction to be released at 11:30
16:59 EDTWeek of 8/29 Redbook to be released at 08:55
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16:20 EDTFitch upgrades Greece to CCC from CC
Fitch Ratings has upgraded Greece's Long-term foreign and local currency Issuer Default Ratings by one notch to 'CCC' from 'CC'. The issue ratings on Greece's senior unsecured foreign and local currency bonds have also been upgraded to 'CCC' from 'CC'. The Short-term foreign currency IDR has been affirmed at 'C'. The Country Ceiling has been raised by one notch to 'B-' from 'CCC'. Reference Link
15:15 EDTTreasury Closing Summary:
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14:25 EDTU.S. CPI Preview
U.S. CPI Preview: July CPI is out Wednesday and should reveal a 0.1% (median 0.2%) increase for the headline with the core index up 0.2% (median 0.2%) on the month. After leveling off briefly, oil prices resumed their decline in July which is likely to add downward pressure to the CPI release. This effect showed up in the already released July PPI where analysts saw a headline increase of 0.2% but which included a 0.6% decline for the energy component in July.
13:50 EDTChina's Economy To Undercut 7% 2015 GDP Target:
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13:25 EDTFed Policy Outlook: the FOMC meeting is a month away
Fed Policy Outlook: the FOMC meeting is a month away. If it were today, it would be a tough call for policymakers because of the many factors to be assessed. Key domestic data have generally been good enough to support liftoff on September 17. Indeed, GDP growth should hit at least 3.0% in Q2 and Q3. However, the FOMC isn't operating in a vacuum and ongoing weakness in commodity prices, the dollar's strength, and remaining uncertainties over the outlooks for China (and to some extent Greece) could tip the scales in favor of a delay, especially given the generally dovish leanings of the voting members, led by Yellen and Dudley. Analysts'll look for clues in the FOMC minutes Wednesday for the degree to which the various parameters might affect the decision. Tomorrow's data on July CPI will be of some importance too though it have lost some of its potency given the plunge in commodities.
13:05 EDTEnergy Action: October NYMEX crude
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12:25 EDTAtlanta Fed's GDPNow was boosted to 1.3% for Q3
Atlanta Fed's GDPNow was boosted to 1.3% for Q3 from the previous 0.7% estimate, as the measure catches up to the internals of Friday's industrial production report, though still some distance from the Blue Chip median estimate of 2.7%. "The GDPNow model forecast for real GDP growth (seasonally adjusted annual rate) in the third quarter of 2015 is 1.3 percent on August 18, up from 0.7 percent on August 13. The forecast for real GDP growth increased from 0.7 percent to 1.2 percent after Friday's industrial production release from the Federal Reserve. Most of this increase was due to a 15.3 percent increase in seasonally adjusted motor vehicle assemblies in July that boosted the forecast of the contribution of real inventory investment to third-quarter GDP growth from -2.2 percentage points to -1.8 percentage points."
12:15 EDT Minneapolis Federal Reserve Bank President Narayana Kocherlakota Speech to be released at 20:20
12:05 EDTFX Action: USD-JPY got an early boost from the better U.S. housing data
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11:45 EDTTreasury's bill auctions were well received
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11:25 EDTTreasury Curve Action: steepeners have prevailed
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10:10 EDTU.S. corporate bond update: the calendar is fairly light
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09:45 EDTFX Action: USD-CAD traded lower
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09:25 EDTHousing starts beat estimates in July
Housing starts beat estimates in July with a new cycle-high, though permits fell sharply in July after a steep Q2 climb that was fueled by robust figures in the multi-family segment and the Northeast. Both series are entering Q3 at encouraging levels after big Q1-Q2 weather gyrations, and the bellwether starts under construction series posted a hefty 2.0% July climb that signals a solid quarter for residential construction in the Q3 GDP report, where analysts now expect a 3.0% headline gain to be accompanied by a solid 9% clip for real residential construction. Analysts still expect a Q3 GDP growth boost to 3.5% from 2.3%, with boost of $2 B in residential construction, $5 B in nonresidential construction and $10 B in public construction. For other housing reports, analysts expect a 2.7% July new home sales rise to a 495k rate and a 1.6% existing home sales drop to a 5.40 M rate. Analysts expect a 0.5% July construction spending rise, alongside a 0.7% July construction hours-worked rise drop a 6k jobs rise for the sector.
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