Posts Tagged ‘hsbc’

Troubles Continue for Russia, Ruble Declines for Eighth Session

by Christopher Lemieuxon June 4, 2014 2:33 pm GMT
Troubles continue for Russia’s economy, as the HSBC services PMI fell to a five-year low. The services purchasing managers index (PMI) came in at 46.1 in May, falling .7 percent from last month’s print. Analysts were expecting a rebound to 48.1. Consumer prices increased with inflation reading 7.6 percent, up .3 percent and higher than […]

Yuan Continues Its Decent, Expected to End the Year Higher

by Christopher Lemieuxon May 5, 2014 5:16 am GMT
Morgan Stanley forecasts continued bearishness on the Chinese yuan, as option traders become the most bearish on the offshore yuan in ten months. The HSBC final manufacturing PMI came in at 48.1 in April, lower than the 48.3 from the previous month. Along with poorer than expected economic data, the yuan has declined as the People’s […]

The FCA Dives into the London Gold Fixing’s Intricacies

by Christopher Lemieuxon April 25, 2014 3:59 am GMT
The Financial Conduct Authority (FCA) is diving deeper into the London gold fixing, which is a twice-daily conference of five international banks to determine the price for spot gold. The British regulator recently visited Societe Generale, one of the five members, in order to observe the London fixing. “the FCA is clearly trying to educate […]

Chinese Central Planners to Determine Growth Target

by Christopher Lemieuxon March 3, 2014 12:50 pm GMT
The central planners of China will announce the new growth target at this week’s meeting of the National People’s Congress. President Xi Jinping will determine, given the current economic slowdown, whether or not last year’s forecast of 7.5 percent growth expansion is appropriate. Economist expectations range from seven to 7.5 percent in 2014. According to […]