US Initial Claims in Tight Range; New Home Sales Surge

Initial claims rose by 4,000 in the September 19 week to a level of 870,000, below the 880,000 level expected and within the same narrow range for the last four weeks. The four-week moving average for initial claims fell by 32,250 to 878,250 in the current week, an eighth straight decline. The last week of […]
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US Existing Home Sales Highest Since Housing Boom

US existing home sales rose further in August due to near record low mortgage rates, cutting into supply and driving prices up further. National Association of Realtors chief economist Lawrence Yun said that housing appears to be in a V-shaped recovery, with further increases likely through the end of the year as rates remain low. […]
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Mobile Trading: Coming of Age

The growth path of mobile trading has been anything but meteoric, but a combination of greater awareness and necessity is finally bringing the channel towards the mainstream. In this supported article, Colin Lambert takes a look at the issues and talks to first mover JP Morgan about the evolution of mobile trading. A knee-jerk reaction […]
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ECB: Recovery Uncertain; Monitoring Euro Strength

The eurozone economy faces an uncertain future, despite evidence of a robust third quarter rebound, according to the eurozone’s top central banker. “While incoming data suggest that we will see a strong rebound during the third quarter, the strength of the recovery remains very uncertain,” said European Central Bank President Christine Lagarde, according to the […]
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And Finally…

There was a burst of correspondence following the news late last week that for EM FX trader Ashkay Aiyer had received a fine and a jail sentence for his role in what can generically be called the chat room scandal – some were questioning how his sanction sits against that for Mark Johnson, while others […]
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In the FICC of It

In this week’s podcast Colin Lambert gets his teeth into one of his favourite subjects – spoofing – and, as usual, has some theories about lessons that can be learned elsewhere. Ahead of Forex Network Chicago later this week, however, which will kick off by a panel looking at the FX swaps market structure, the […]
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China-US Tech War: US Govt Moves to Block TikTok, WeChat

In an escalation of the ongoing China-US tech war, the US Commerce Department Thursday announced restrictions on new downloads and updates of two popular Chinese-owned mobile apps – WeChat and TikTok – citing a need to safeguard the national security of the United States. “The Chinese Communist Party (CCP) has demonstrated the means and motives […]
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Housing Sector Fueled by Low Rates

While the retail and manufacturing sectors continue to improve from their spring lows, neither have received the benefits of record low interest rates as much as the housing sector. In the upcoming light data week, August home sales data will take centre stage. After double digit gains in July, it’s possible that the rates for […]
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Fed’s Bullard: Economy Can Bounce Back Quickly

St Louis Fed President James Bullard Friday offered a sunny view of the economic outlook, saying the economy continues to rebound as businesses adapt to the pandemic, and unemployment is headed down to 6.5% by December. Bullard said much of the rise in unemployment has been due to temporary layoffs, and most workers in this […]
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BoE Leaves Policy Unchanged; Sets Stage for Easing

The Bank of England made no changes to its benchmark rate or quantitative easing package at Wednesday’s rate setting meeting, but left the door wide open for policy changes at its next gathering in November. Interest rates remain at a record low of 0.1%, while the total stock of the current quantitative easing package stays […]
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