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  • Stocks Close Down for 4th Consecutive Day

    Stocks started the trading session on a mixed note as investors continue to grapple with economic data. Today’s second look at GDP reported by the Commerce Department was much better than expected, but the increase was likely due to climbing inventories which will be sold off and not replenished during the 4th quarter. Jobless claims

  • Strong PMI Data Fails Ignite the Euro

    The Euro attempted to break out but was unable to gain traction at higher levels despite stronger than expected services PMI data. The monthly surveys on manufacturing, construction and services have all been stronger than expected. The EU Commission has fined a group of leading multinational banks 1.71 billion Euros for rigging Libor rates in

  • Stocks Rally in Home Stretch but Close Mixed

    Stocks moved into the red in early morning trade after ADP released a stronger than expected private payroll. The October trade balance came in as expected with a 40.6 billion dollar deficit, which did not seem to move the market. After the ADP report, investors quickly started pricing in the potential for the Federal Reserve

  • Sterling Poised to Test 2013 Highs

    Sterling continued to rack up gains in the last month of the year as the yield differential favor the pounds. While stronger than expected data hit the tapes in the UK on Monday, Tuesday followed suit reflecting the strength in the UK economy on Tuesday. US yields moved closer to the 2.8% level in the

  • Stocks Close Lower as Taper Talk Reemerges

    Stocks in the US started the trading session on a mixed note, as investors continued to be leery given the recent economic data. Monday’s stronger than expected ISM and construction spending led investors to believe that the FOMC could consider tapering its bond purchase program prior to Yellen’s first meeting as head of the Fed

  • Stocks Slump After Strong ISM Manufacturing Report

    Stocks started the trading session in the black on the heels of solid volume on the busiest shopping day of the year. Online sales hit a record over the Thanksgiving Day weekend, and are expected to soar over Cyber Monday. Investors needed to absorb a plethora of economic data that is scheduled to be released

  • The Greenback Breaks Higher on Solid Data

    The dollar moved higher on the first trading day of December, increasing in value against the yen as the yield differential continued to move in favor of the greenback. The US – Japan 10-year yield differential topped 255 basis points which is the highest since May of 2013, and a 4-year high for the spread.

  • Yen Continues to Weaken but Consumer Prices are Making Gains

    Japan continues to make progress in deflation fight. While the BOJ is pumping liquidity into the market; the stock market is rising generating a wealth effect that seems to have finally paid off. If prices at the core level can continue to rise, export growth could gain traction and drag the economy out of its

  • Stocks Start Strong but Whimper at the Close

    Stocks in the US started off on a strong note as investors focused on holiday shopping on the busiest shopping day of the year Black Friday. Investors are expecting a slight increase in overall volume, and shoppers to focus on electronics. Stocks closed the Friday session early, and prices eased into the close with only

  • Yen Hits 5-year Low against Euro
    Analysis and Opinion »

    Yen Hits 5-year Low against Euro

    November 29, 2013, 07:37 GMT

    The Euro continued to climb higher on Thursday against the yen as better than expected EU data hit the tape on Thursday. EU consumer confidence was stronger than expected while German unemployment notched up its 4th consecutive monthly gain. Eurozone’s consumer confidence data for November came in right at expectations of -15.4. Economic confidence rose