Warren Buffett“A public opinion poll is no substitute for thought.”
Adlin Sinclair“Success is a welcomed gift for the uninhibited mind.”
GDP accelerates in Thailand more than expected »
Thailand’s economy released today its report to show the gross domestic product (GDP) in Thailand for the second quarter of the year, where the Thai economy expanded more than analysts’ expectations as exports increased, helping the recovery to rebound, and facing the political turmoil impact during April and May.
The Thailand’s annualized gross domestic product inclined [...]
The Japanese yen continued to strengthen against the US dollar »
The US dollar lost ground today following disappointing jobless claims and Philly Fed data. Initial jobless claims report showed that 500k Americans filed applications for unemployment benefits last week vs. the previous 484k and 478k eyed. Further pressuring the dollar was the Philly Fed data posting a -7.7 contraction in demand vs the [...]
Today, all attention will go to the June US payrolls report »
Markets: Fixed Income
On Thursday, global core bonds started the session on a weaker footing, but later on weakness in various US economic reports supported bonds, the safe haven in times of risk aversion. However, bonds have risen outstandingly in recent weeks and are at very expensive levels and the rally is showing signs of fatigue. [...]
A look at global economic developments (AP) »
A look at economic developments and activity in major stock markets around the world Friday:
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BEIJING — China’s economy grew even faster in 2009 than previously reported, adding to concern the flood of stimulus spending and loans that drove its rebound left a dangerous glut of unneeded factories and other assets.
In Asian trading, In Japan’s Nikkei [...]
DA: NYC money man faked Belgian royal ties in scam (AP) »
NEW YORK – A money manager accused of concocting ties to a Belgian royal family to con investors out of at least $7 million denied the allegations Wednesday as he faced a mounting toll of civil and criminal charges.
Guy Albert de Chimay pleaded not guilty to grand larceny, forgery and other criminal charges in a [...]
Euro advances ahead of ECB tender »
The European common currency gained against majors ahead of the ECB offering to loans to banks at 1.00% only after the expiry of the 12-month tender today which alleviated concerns that banks will face trouble in paying debt to the ECB.
European banks have to repay 442 billion euros this month, but the ECB mentioned yesterday [...]
Euro Rallies despite Asia-Pacific Slowdown »
The super economy of China that has dragged the global economy out of recession is beginning to show signs of a consolidation. China’s Manufacturing PMI for June produced a disappointing 52.1, instead of the forecast 53.2. It seems measures to prevent the economy from over heating are beginning to show sign of fruition.
Once again risk [...]
Stocks shaky on more bad news from the US… »
More US data means more bad news as of late. Yesterday the initial claims data show another increase, this time to 472k, while the ISM dived to 56,4 pts., far deeper than the market anticipated While the first reflects a tendency evident from the start of this year, the latter confirms a deterioration in economic [...]
European Session News Summary »
UK PMI Manufacturing SlumpsPMI manufacturing in the U.K. came in line with expectations at 57.5 in June; yet, lower than May’s reading of 58.0.
European manufacturing expansion halts in JuneEuropean PMI manufacturing lingered at 55.6 in June, in line with both previous and estimated.
Spain credit rating might be cut by Moody’s Investors ServiceSpain might [...]
EURUSD downward after Greece turns junk, ZEW survey on tap »
Market Brief
The USDJPY traded at 91.65 after it weakened to 92.12, the lowest level since June 4 as speculation the worldwide economic recovery is intact damped demand for the safety of JPY. The NZDJPY was close to a four-week high before reports today may show Empire manufacturing expanded at a faster pace to 20 (prev. [...]