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Little has changed since new RBI Governor Rajan has taken over, but that has not stopped Indian Rupee from appreciating, with prices currently breaching below the key rising Channel Top (see weekly chart below) and will close below it if we continue to stay around current levels. The reason for the increase in strength is due to market expectations that…

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The longest bearish streak in 2013 has been broken, with S&P 500 climbing 0.35% and Dow 30 doing marginally better at 0.36%.  If you check the newswires today, it is likely that journalists and market watchers have attributed the gains to the better than expected Initial Jobless Claims. However, there were other news that were released – Core Personal Consumption…

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Here’s an unwelcome number for President Barack Obama and Democrats who are insisting Congress raise the U.S. debt ceiling without strings attached: 61%. That’s the percentage of Americans who agreed in a Bloomberg poll that it’s “right to require spending cuts when the debt ceiling is raised even if it risks default.” On Thursday, like virtually every other day for…

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Japan CPI Rise To 5-Year High

by Oanda on September 26, 2013

in Forex

Japan’s core consumer prices, which exclude volatile food prices, rose 0.8 percent in August from a year earlier, recording their biggest annual rise in almost five years. The rise in the core consumer price index (CPI) marked the third straight month of increases and was above analyst expectations in a Reuters poll for a 0.7 percent rise. It is the…

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India should introduce a wholesale liberalization of rules restricting foreign investors from participating in domestic bond markets, according to a report produced by the country’s main financial markets regulator. Asia’s third-largest economy currently restricts to $30 billion the amount foreign investors can hold in Indian government debt, and places further limits on the quantity of corporate debt held abroad. But…

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President Barack Obama will choose Janet Yellen as head of the Federal Reserve, the Senate’s second-ranking Democrat predicted. “I would bet a few bucks that that would happen if I were a betting man,” Senator Richard Durbin of Illinois told Peter Cook in a Bloomberg Television interview for “Capital Gains” airing this weekend. Durbin, who has a close relationship with…

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Despite the pro-business tone of France’s 2014 budget, the country’s largest business lobbying group said the proposals presented by the government on Wednesday were a blow for competitiveness, growth and jobs. “We’ve got a problem with this French budget,” Pierre Gattaz , the head of France’s Mouvement des entreprises de France (MEDEF), told CNBC, following the government’s budget presentation, which…

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Former U.S. Treasury Secretary Tim Geithner shouldn’t be ruled out as a candidate for the next Federal Reserve chairman, according to delegates at a big U.S. hedge fund event in Singapore. Ben Bernanke’s term as chairman of the U.S.central bank ends in January and President Barack Obama is expected to announce his nomination for the next Fed chief soon. Delegates…

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On the eve of another potentially bruising political battle over the nation’s debt, American sentiment dipped back into its post-crisis financial funk, according to the CNBC All-America Economic Survey. The third quarter survey of 812 Americans across the country found 61 percent saying they are downbeat on the current state of the economy and pessimistic for the economic future, a…

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U.S. home buyers signed fewer contracts to purchase existing homes in August, as higher mortgage rates and higher home prices weighed on housing affordability. So-called pending home sales fell 1.6 percent month-to-month, according to the National Association of Realtors, but are still 5.8 percent higher from a year ago. The Realtors warned earlier this month that the increase in closed…

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Indonesia needs to prepare its defense for the day when the Federal Reserve starts to pump less money into global markets, its finance minister said Thursday. “It’s inevitable that the Fed will one day end quantitative easing,” Muhamuad Chatib Basri told reporters in Hong Kong. “We need to focus on stabilization.” The southeast Asian nation is grappling with a slowing…

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US Jobless Claims Drop to Six Year Low

by Oanda on September 26, 2013

in Forex

The number of Americans filing new claims for jobless benefits fell last week to a near six-year low, bolstering the case for the Federal Reserve to wind down an economic stimulus program. Another economic report on Thursday confirmed a solid pace of economic growth in the second quarter, although it also showed a worrisome decline in consumer prices. Initial claims…

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