Giving the closing address at the end of China’s yearly parliamentary session on today, Premier Wen claimed the state had no intention to relax its austerity position because while housing costs have just shown signals of easing, they were still too high. The official Xinhua agency reported: [quote]If we develop the home market blindly, a […]
Premier Wen Addresses The National People’s Congress Read More »
Applications for home mortgages dropped below forecast in January ending six straight rises, reported the Australian Bureau of Statistics. The Bureau released data today that showed the number of home mortgages in December fell to a seasonally adjusted 1.2 % to 47,768. Applications were expected to have increased by at least 2% this month, based
Economic Data Slightly Under Forecast But Shows A Recovery Read More »
China swung to a huge trade deficiency this past month, partially accounted for due to seasonal adjustments due the western holiday season reorders and the Chinese Lunar New Year, but additionally to weakened requirement for the country’s exports. The poor export performance comes on top of a growing mountain of negative economic data released this
China Shocks Markets With Huge Trade Deficit Read More »
Today, the US Commerce Office is expected to report the import-export trade balance in services and goods was $48.4 bn. in the first month of the year, only a little modified from December. The $580 bn. annual trade deficit is the most serious barrier to creation of jobs and lowering unemployment, the import of personal
Where Have All The Workers Gone Read More »
For the second month in a row, Japan has reported a trade deficit. Last month, Japan reported its largest trade imbalance. This trade deficit continued and Japan has reported for the month of January the deficit was 437.3bn yen ($5.4bn; £3.4bn), the ministry of finance reported The current account report gives the markets the broadest
Japan Reports Record Trade Deficit Read More »
Monday saw a variety of fundamental events that will shape the markets over coming weeks. Most notably Spain went on record with an admission that its deficit soared above target last year. At 8.5% of GDP, Madrid’s government was quite a distance from its target of 6%. These poor figures arguably prove its case for
Spain Misses Deficit Target Read More »
There’s a sad irony that on the day when the USA BLS (bureau of labour statistics) publishes their latest unemployment figures the U.S. postal service announces that the closure of nearly half of its mailing plants will take place over the next twelve months. The claim from the BLS is that only 5.4% of the
U.S. Jobs Going Postal Read More »
So the Dow Jones reached 13,000 on Tuesday and then reverted to the obvious underpinning mean average (moving average). No surprise there, the 13,000 must have been market stop hunting paradise for market makers given it was such an obvious target. If I traded indices (perish the thought) a sell order looking for 20-30 pips
Is The Dow Jones Industrial Average And The SPX Overbought? Read More »
We’re not entirely sure what happened to the “on deposit” stories that were doing the financial news-rounds in late 2011, remember how it was? The ECB would offer three year virtually unlimited loans to banks at a 1% coupon, they termed it LTRO, (long term refinancing operation). The banks would then immediately deposit the same
The ECB Announces The Last Of Its Blow Out Money Sales Read More »
There are two definitions for a Dutch Oven and both are equally fitting for the stunt the Dutch finance minister pulled during the final delicate negotiations over the details of the Greek bailout; [ordered_list style=”decimal”] A Dutch Oven is a thick-walled (usually cast iron) cooking pot with a tight-fitting lid. Dutch ovens have been used
Greece Is Put Into A Dutch Oven Read More »
