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Another long leading indicator - deflated corporate profits - probably turned negative in Q1 2014

By: New_Deal_democrat

One of the long leading indicators, which usually turn a year or more before the economy as a whole, is corporate profits. In the first quarter of 2014, it may have turned down. According to Marketwatch, http://www.marketwatch.com/story/great-expectations-2014-05-06."[E]arnings growth is slowing. Read more

XE Market Analysis: North America - May 09, 2014

By: XE Market Analysis

The USD firmed moderately against the EUR and other currencies during both the Asian and European AM sessions. EUR-USD dipped to a new 'post-ECB' low of 1.3804, Cable coattailed EUR-USD, ebbing to a low of 1.6899. USD-JPY firmed made a high of 101.79, having recovered from a dip to sub-101.50 levels during the Tokyo session. Read more

XE Market Analysis: Europe - May 09, 2014

By: XE Market Analysis

The USD is modestly firmer against most currencies after advancing during the New York PM session and then holding largely steady in pre-Europe Asia trade. USD-JPY firmed to the 101.70-75 area after closing in London around the 101.60, recovering from a dip to sub-101.50 levels in the interim. Read more

XE Market Analysis: Asia - May 08, 2014

By: XE Market Analysis

The dollar was mixed in N.Y. trade on Thursday, with most of the action coming from EUR-USD losses. The ECB left policy alone at its meeting, as was widely expected, though he opened the door widely for a June move, saying the council is comfortable acting at the next meeting. Read more

The Failure of Austerity: Spain

By: HaleStewart

On Tuesday, I looked at the broad macro-level statistics for Portugal, a country that implemented austerity policies. Today, I want to continue that analysis by looking at Spain, another EU country that has implemented austerity. Let's begin by noting that Spain has indeed cut government spending over the last 2-3 years. Read more

XE Market Analysis: North America - May 08, 2014

By: XE Market Analysis

The dollar traded softer versus the EUR and AUD, but held steady against most of the other main currencies. The euro held firm into the ECB announcement and press conference with the market discounting a no-change outcome. EUR-USD rose to a peak of 1.3949 after earlier testing 1.3905, which is a former intraday high and now support level. Read more

XE Market Analysis: Europe - May 08, 2014

By: XE Market Analysis

The AUD rallied following stronger than expected Australian employment data, which rose 14.2k in April, and above-forecast trade numbers out of China, which helped feed a risk positive session in Asia Pacific markets. AUD-USD rose above 0.9390 for the first time since Apr-15. Read more

XE Market Analysis: Asia - May 07, 2014

By: XE Market Analysis

The dollar largely meandered inside narrow trading bands in N.Y. on Wednesday, though overall, retained a slightly firmer bias. EUR-USD and cable jockeyed near the bottom of their recent ranges ahead of Thursday's BoE and ECB meetings, where no policy changes are expected. Read more

Unit labor costs rise 4.2% in the first quarter

By: New_Deal_democrat

Unit labor costs are a measure of productivity:  how much does business pay a worker in order to get one unit of production?   Read more

XE Market Analysis: North America - May 07, 2014

By: XE Market Analysis

No big moves today were seen during the Asian and European AM sessions. USD-JPY clocked a three-week low of 101.43 during Tokyo trade before settling back above 101.50. Hefty Nikkei losses amid a general risk-off environment along with the minutes to the Apr 7-8 BoJ meeting supported the yen. Read more

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