Every single day we have more reason to believe that the US unemployment rate will break 8 percent next year. Jobless claims rose to a 16 year high last week of 542k, driving the US dollar lower against the Japanese Yen. Continuing claims rose to 4.012 million, the highest level in close to [...]

Posted in Bernanke, FOMC, Fed Rate Cut, Fed Rate Cut Expectations, Federal Reserve, Forex News, consumer spending, forex blog, jobs, non-farm payrolls No Comments »

US consumer prices dropped 1 percent last month, taking the annualized pace of growth to 3.7 percent, which is the lowest level since October 2007. Falling oil prices takes the credit for lower inflationary pressures with gasoline prices tracking the 50 percent decline in crude. Gas station receipts fell a whopping 14 percent [...]

Posted in Bernanke, FOMC Minutes, Fed Emergency Cut, Fed Rate Cut, Fed Rate Cut Expectations, Federal Reserve, Forex News, Forex Trading Expo, Japanese Yen, US Dollar, US Economy, forex blog No Comments »

Bernanke and Paulson are testifying before the House Financial Services Committee and these are their comments (this list will be growing as they speak, so check back often)
Bernanke’s Comments
- Some Signs Credit Market Are Improving
- Credit Conditions Still Far From Normal
- Injection of TARP Capital Critical to Confidence
- Banks Should Review Compensation to [...]

Posted in Bernanke, Federal Reserve, Forex News, TARP plan dollar, Uncategorized, eur/usd, forex blog, paulson dollar 1 Comment »

The global unwind continues this morning with US equities, commodities and currencies taking another beating. The US dollar and Japanese Yen continue to outperform with the British pound hitting a fresh 5 year low.
The story is still the same, which is sell first and ask questions later. It is earnings season and [...]

Posted in Bank of Canada, Bank of England, Bank of Japan, BoE rate cut, British Pound, Canadian Dollar, Carry Trades, ECB, Fed Rate Cut, Federal Reserve, Forex News, Forex Podcast, ecb rate cut, eur/usd, forex blog, retail sales 3 Comments »

Even though the US economy has not officially entered a recession, the US labor market has.
October will mark the tenth consecutive month of net job losses. The market currently projects a loss of 200k jobs last month, but given the trend of job losses in past recessions, there is a growing chance [...]

Posted in Bernanke, Federal Reserve, Forex News, US Dollar, US Economy, dollar earnings, dollar rally, forex blog, non-farm payrolls No Comments »