USDJPY Moves to Test 104 Amid Larger Consolidation Pattern

on , from dailypriceaction.com

USDJPY has started to make up some lost ground after the latest Bank of Japan decision left buyers routed. By the time the dust settled, the risk-sensitive pair had lost nearly 500 pips before catching a bid just above the July lows at 100.20 I mentioned the 104 handle on July 29th following the BoJ announcement that left many disappointed. However, the selling pressure proved too intense, and the pair never made it back to test the level as new resistance. Whether the strength we see today will persist as far as 104 is anyone’s guess. But I would certainly expect to see the pair offered heavily in this area if pressured in the coming ... (Read the full story)

The Fed’s shifting perspective on the economy and its implications for monetary policy

on , from brookings.edu

The headline on a recent piece by Ylan Mui of the Washington Post —“Why the Fed is rethinking everything”—captured the current moment well. The Federal Reserve has indeed been revising its views on some key aspects of the economy, and that’s been affecting its outlook both for the economy and for monetary policy. In this post I document and explain the ongoing shift in the Fed’s economic views. I then turn to some implications, suggesting among other things that, for now at least, Fed-watchers should probably focus on incoming data and count a bit less on Fed policymakers for guidance. Talking about the “Fed’s thinking” is of course ... (Read the full story)

Exness July forex trading volumes soar

on , from smnweekly.com

Exness, a retail forex broker regulated in Cyprus and Belize, has reported that its trading volume in July stood at $253.2 billion. This is nearly 35% more than in June and is the highest since the beginning of this year. Judging from the broker’s data, its trading volumes are recovering after the distributed denial of service (DDoS) hacker attacks that seriously disrupted its trading servers back in April. This was reflected in the trading volume for the respective month, when the trading volume stood at barely $165.6. Since then it started recovering, as reflected in its May and June metrics and the July records. At the same ... (Read the full story)

Fed’s job-market index has first gain of year in July

on , from marketwatch.com

The Federal Reserve’s Labor Market Conditions Index rose 1 point in July, the first increase this year. The U.S. central bank’s LCMI tracks 19 labor-market indicators to get a better sense of the broad health of the job market. June’s LCMI fell a revised 0.1 from the prior estimate of a drop of 1.9. –– ADVERTISEMENT –– Fed Chairwoman Janet Yellen has stressed that the index is still in the research phase and any findings should be considered tentative. Thomas Simons, economist at Jefferies, said “the stabilization in the LMCI over the past two months is encouraging and offers evidence that the swoon in the labor market ... (Read the full story)

Rich people are bragging about their luxe panic rooms

on , from nypost.com

The hottest new trend for the .01 percent? Safe rooms, darling. Billionaires are outfitting their abodes with ultra-luxe safe spaces that cost up to half a million dollars, according to a Town & Country story in the September issue of the glossy, which hits stands tomorrow. The shelters are designed protect against everything from natural disasters to home invasions and ISIS attacks, and come complete with infrared cameras, facial recognition software for entry, ballistic fiberglass to protect against explosions, air filtration units and bad-guy-distracting fog that’s activated with the touch of a button. “They may want a ... (Read the full story)