Archive for February, 2014

US Fourth Quarter GDP Indicates a Slower Pace of Growth

by Christopher Lemieuxon February 28, 2014 2:19 pm GMT
The US economy expanded only 2.4 percent in the fourth quarter, falling short of the 3.2 percent preliminary data report. Economists did revise forecasts to a 2.5 percent general consensus heading into the report. The gross domestic product data indicates that growth lost momentum heading into 2014. Household spending did increase 2.6 percent, but it […]

Researchers Say London Gold Fixings Is More Like Rigging

by Christopher Lemieuxon February 28, 2014 6:31 am GMT
Researchers are saying that the infamous London gold fix, where five of the largest banks discussion gold’s price twice every day, is actually market manipulation. “The structure of the benchmark is certainly conducive to collusion and manipulation, and the empirical data are consistent with price artificiality,” the report indicates. The London fix has been the […]

Speculators Jump Off the Bear Train and Kuroda is the Only Passenger

by Christopher Lemieuxon February 28, 2014 5:12 am GMT
Speculators are losing faith in the Bank of Japan’s ability to keep weakening the yen as the demand for the safe-haven currency is back in demand, gaining 3.4 percent year-to-date. After declining the most last year than the previous 30-years, the yen has seen bearish bets trimmed by over 60 percent since the peak-decline in […]

US Dollar Looks Bullish in Short-Term as Yellen Likely to Reassure of Taper Tomorrow

by Christopher Lemieuxon February 27, 2014 7:49 am GMT
The US dollar traded higher on suspicious new home sales data that came in at 468K homes, 62K more than analysts were expecting, following a string of poor housing data. Federal Reserve chair Janet Yellen will speak in front of the Senate Banking Committee today, and the financial markets will listen closely if the recent weak […]