[Archive!] FOREX - Trends, Forecasts and Consequences (Episode 7: September 2011) - page 59
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Waiting to see how the conversation between Merkel, Sarkozy and the Greek Prime Minister plays out.
In recentweeks China has repeatedly reaffirmed its confidence in Europe and the euro. It is increasingly likely that Beijing is looking for alternative investment opportunities. The Financial Times and Wall Street Journal reported on Monday and that Italy has asked the Chinese government to buy its bonds on a large scale. Rome denied this but said talks have taken place with China.
Offended left... reads in silence. Hi!
Tweaked the screenshot, my vision after the holiday
Tweaked the screenshot, my vision after the holiday
i agree :))) bai at 45 left...
What time will they be done?
So does anyone know or not?
p - revised figure
WASHINGTON, Sept. 14. /Dow Jones/. US retail sales were flat in August. This is an alarming signal that Americans are getting increasingly nervous, while unemployment remains high and the economic recovery is weak.
Retail and food sales in August were unchanged from the previous month at $389.50 billion, according to figures released by the US Department of Commerce on Wednesday.
Economists polled by Dow Jones Newswires had expected sales to rise by 0.3%. Retail sales rose 0.3% in July, according to the revised data, whereas initially it was reported to have risen 0.5%.
The retail sales figure is an important indicator of consumer spending, the main driver of economic growth.
/Continued
Earlier this year rising food and energy prices limited purchasing power. But now many Americans still spend a lot on fuel but save on everything else.
According to data released on Wednesday, sales for cars and car parts were down 0.3%. Excluding cars, retail sales rose 0.1%. Furniture, clothing and restaurant and department store sales also declined. Sales of electronics and appliances, sporting goods, food, building materials and non-store retail sales, which include online shopping, showed growth.
Competition has intensified and companies are trying to attract consumers with discounts and promotions.
Best Buy this week reported a 30% drop in Q2 revenue. It forecast profits would fall in the current financial year as electronics retailers continue to struggle amid a weak economy and strong competition.
"We are still dealing with an uncertain macroeconomic environment with volatile consumer spending dynamics. This is evident from the Q2 data," Best Buy president and CEO Brian Dunn said at a press conference.
Longer-term Eurodollar futures are sending modest price gains with some session highs logging contracts, after data showed flat retail sales and a lack of wholesale price pressures. At the same time, the market is pulling back on the idea of a Libor spike as traders attach their hopes that a Merkel-Sarkozy conference call will help fend off a eurozone debt infection. Quarterly 2013-2014 Eurodollars are up as much as 2 points, while short-term December recently saw 3-month Libor dollar at 0.57% when the contract expires on 19 December, down from 0.575% in Tuesday's settlement. Cash Libor is now up 35 of the past 36 working days, rising to 0.34911% on Wednesday, according to the British Bankers' Association.
So does anyone know or not?
US banks in recent weeks have reached agreements to lend billions of dollars to European banks structured as so-called repo agreements, a website International Financing Review reported on Wednesday, quoting bankers directly involved in those deals.
Lenders in the UK and France are among those European banks involved. At least three of the five largest US banks are also involved. French bank Societe Generale SA (GLE.FR) said it had reached a repo agreement equivalent to EUR6 billion against a portfolio of commercially backed mortgage-backed securities, and provided loan security, IFR reported. A person at BNP Paribas SA (BNP.FR), said the French bank had also used US dollar repo markets for fixed income activities, but "no more than usual."
The agreements arrive in response to the recent massive flight of funding from money market funds.
"We were able to use some of our assets to get long-term repos," IFR quoted one board member at the French bank as saying.
"It was a move we made to turn some of the assets we had on the balance sheet into money, which were good, quality assets, and also mitigate the withdrawal of money market funds."
The US banks involved in the deals charged higher than normal fees, in some cases double the level paid to the money markets.
US banks in recent weeks have reached agreements to lend billions of dollars to European banks structured as so-called repo agreements, a website International Financing Review reported on Wednesday, quoting bankers directly involved in those deals.
Lenders in the UK and France are among those European banks involved. At least three of the five largest US banks are also involved. French bank Societe Generale SA (GLE.FR) said it had reached a repo agreement equivalent to EUR6 billion against a portfolio of commercially backed mortgage-backed securities, and provided loan security, IFR reported. A person at BNP Paribas SA (BNP.FR), said the French bank had also used US dollar repo markets for fixed income activities, but "no more than usual."
The agreements arrive in response to the recent massive flight of funding from money market funds.
"We were able to use some of our assets to get long-term repos," IFR quoted one board member at the French bank as saying.
"It was a move we made to turn some of the assets we had on the balance sheet into money, which were good, quality assets, and also mitigate the withdrawal of money market funds."
The US banks involved in the deals charged higher than normal fees, in some cases double the level paid to the money markets.
Look at where the banks stand, it's only a matter of time before it's the same level as in March 2009 where there was a reversal.
Citigroup
Commerzbank
Deutche Bank
Bank Amerika