Forex Probes Raise Fears Of A Repeat Of Libor Scandal

London is the world’s largest currency trading hub. Related: U.K. joins currency manipulation probe Authorities in Europe and Asia revealed earlier this month they are on the hunt for evidence that banks may have tried to rig exchange rates. The global sweep includes European Union regulators, as well as counterparts in the U.K., Switzerland and Hong Kong. In the U.S., the Justice Department has “an active, ongoing investigation into possible manipulation of foreign exchange rates,” Acting Assistant Attorney General Mythili Raman said. The push is part of a wider crackdown into financial industry misconduct.
Source: http://money.cnn.com/2013/10/30/news/companies/global-forex-probe/index.html

In the meantime, the central bank will be on edge, ready to protect its currency from rapid appreciation. The SNB will update its 3Q effort today as well as its currency holdings (likely unchanged). Gold Retreats, Bears Rule Should We Break $1,335, Dollar Rally There is ambiguity to the round of monetary policy decisions and commentary as of late, but gold acts as a good gut check for the lean towards global stimulus. When the worlds major central bank troupe are overall accommodative, this one it diminishes the appeal of traditional currencies in general as there is no viable reserve to diversify to.
Source: http://finance.yahoo.com/news/forex-dollar-gains-post-fomc-034100272.html

Learn Forex: NZDUSD 200-Day Simple Moving Average Bounce (Chart Created using Marketscope 2.0 charts) In the example above, we can see a strong uptrend in the daily NZDUSD chart. The trend started at the end of August at 0.7718 from below the 200-day simple moving average crossed above the 200-SMA on 9/16 and reached a high of 0.8434 on 9/19. Traders who missed the over 700 pip move had a second chance to join this powerful trend as NZDUSD retraced back and bounced from the blue 200-day simple moving average in the 0.8200 neighborhood. In Forex, numbers ending in 00 usually act as significant areas of support and resistance as well.
Source: http://finance.yahoo.com/news/quick-way-popular-forex-moving-031800644.html

The BOJ will issue a semi-annual report on the economy and prices, which will include fresh long-term growth prospects, at 0600 GMT, followed by a news conference by Governor Haruhiko Kuroda at 0630 GMT. “I think basically they (BOJ) would say that they are comfortable with the outlook,” said Sim Moh Siong, FX strategist for Bank of Singapore. “But I think the bigger question is, will they still have the same level of comfort three to six months down the road. Perhaps then there may be a higher possibility of easing if the sales tax hike does impact on the economy,” Sim added.
Source: http://www.reuters.com/article/2013/10/31/markets-forex-idUSL3N0IL0WT20131031

Barclays maintains its view that the Fed will reduce the pace of asset purchases to $70bn per month in March of next year. Following the FOMC statement, sterling dropped sharply to a two-week low at 1.5998. GFKs UK Consumer Confidence for October came out just after midnight UTC today, falling short of forecasts for -8 with the softer reading of -11, marginally below Septembers -10, which remains the best level since the financial crisis. The current-month Nationwides UK House Price Index m/m checked in earlier today at 1.0 percent, comfortably beating expectations for a rise of 0.7 percent, following the prior periods gain of 0.9 percent. House prices have thus maintained the momentum that has been building in the second half of 2013 on the back of a sustained upward trend in the wider UK economy, said Robert Gardner, chief economist at Nationwide. In the US today, Unemployment Insurance Initial Claims for last week are due out at 12.30 UTC, with the consensus for a drop to 339,000 from the prior periods 350,000.
Source: http://invezz.com/news/forex/6460-forex-gbpusd-eases-as-FOMC-keeps-tapering-on-ice-for-now

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Peter King: Obama Should ‘stop Apologizing’ For Nsa

(Photo: Jim Watson, AFP/Getty Images) Tags Iran SHARE 67 CONNECT 56 TWEET 16 COMMENTEMAILMORE While Iran’s nuclear program, Syria’s chemical weapons and the peace process between Israelis and Palestinians remain priorities, President Obama and his team appear to be developing a lower key Middle East agenda. “We can’t just be consumed 24/7 by one region, important as it is,” said National Security Adviser Susan Rice in an interview with The New York Times. Rice, who is heading up a Middle East policy review at Obama’s direction, said: “He thought it was a good time to step back and reassess, in a very critical and kind of no-holds-barred way, how we conceive the region.” That could mean less emphasis on Egypt, which remains under military rule, as well as nations like Libya, Tunisia and Yemen. Former Vice President Dick Cheney, speaking on ABC’s This Week, said he is concerned that the Obama administration will “pivot to Asia,” and short-change the Middle East at a critical time. “I know that our friends in the region are worried,” said the Republican vice president to President George W.
Source: http://www.usatoday.com/story/theoval/2013/10/27/obama-susan-rice-middle-east-new-york-times-interview/3280451/

Is the US to be a kind of hectoring NGO, lecturing friends and detractors alike for not being more like Americans? And just what is the US trying to accomplish with Russia? Can it identify ways to cooperate with this difficult, undemocratic state, in order to address issues of mutual concern? It is time for a tour dhorizon from Obama. His administration still has three years to go, and the world is waiting, watching, and, frankly, wondering. Project Syndicate, 2013 Christopher R.
Source: http://gulfnews.com/opinions/columnists/obama-much-vaunted-asia-pivot-runs-out-of-steam-1.1247835

Sent! A link has been sent to your friend’s email address. 3 To find out more about Facebook commenting please read the Conversation Guidelines and FAQs This story is part of Barack Obama David Jackson, USA TODAY 10:29 a.m. EDT October 27, 2013 President Obama (Photo: Win McNamee, Getty Images) Tags Barack Obama SHARE 5 CONNECT 29 TWEET 3 COMMENTEMAILMORE A new cable network targeting young Hispanics has a special guest for its opening day on Monday: President Obama. Fusion — which describes itself as a “news, pop culture, and satire TV and digital network,” and is a joint venture of view ABC News and Univision — announced Sunday that Obama will be a guest on “AMERICA with Jorge Ramos” at 7 p.m. Monday.
Source: http://www.usatoday.com/story/theoval/2013/10/27/obama-fusion-interview-immigration-abc-news-univision/3280547/

“And the French are someone to talk. The fact is, they’ve carried out spying operations against the United States — both the government and industry,” King said. “As far as Germany, that’s where the Hamburg Plot began, which led to 9/11. They’ve had dealings with Iran and Iraq, North Korea — the French and the Germans, other European countries.” Aaron Blake covers national politics at the Washington Post, where he writes regularly for the papers Post Politics and The Fix blogs. A Minnesota native and graduate of the University of Minnesota, Aaron has also written for the Minneapolis Star-Tribune and The Hill newspaper.
Source: http://www.washingtonpost.com/blogs/post-politics/wp/2013/10/27/peter-king-obama-should-stop-apologizing-for-nsa/

Obama to talk Obamacare on Wednesday in Boston

Get this in your head: SOCIALISM WILL BE DESTROYED. October 27, 2013 12:31 pm at 12:31 pm | Magister This just in: Obama is filthy and corrupt. Film at eleven. October 27, 2013 12:32 pm at 12:32 pm | Gurgyl @rick McDaniel, see medicaide is state, Medicare is federal. Of welfare, think giving to our people is much better than War spending in Iraq, Afganistan, 30 billion yearly to Pakistan.
Source: http://politicalticker.blogs.cnn.com/2013/10/27/obama-to-talk-obamacare-wednesday-in-boston/comment-page-1/

Asian Stocks Advance On Earnings Optimism; Hitachi Jumps

Hitachi jumped 8.4 percent to 659 yen, the biggest jump since March 2011 after reporting preliminary net income of 32 billion yen above its forecast of 15 billion yen. Sales and operating profit also exceeded expectations. The company is scheduled to report final results on Oct. 29.
Source: http://www.bloomberg.com/news/2013-10-24/asian-stocks-fall-for-second-before-china-factory-report.html

EMERGING MARKETS-Brazil stocks slumps off 7-month high, Mexico falls

Mexican stocks have traded in an increasingly narrow range in recent weeks. Most companies will report earnings later this week. * Brazil’s benchmark Bovespa stock index snapped a three-day winning streak to drop 1.81 percent – the biggest one-day percentage fall this month. On Tuesday, stocks had closed right above a key resistance level. * A policy adviser to the People’s Bank of China told Reuters on Tuesday that the authority may tighten cash conditions in the financial system to address inflation risks, which could also sap economic growth in a key market for Latin American iron ore, soybeans, oil and copper. * Lender Banco Bradesco SA fell 2.03 percent after JPMorgan Securities analysts lowered their recommendation on the shares to “neutral” from “overweight,” saying a recent rally in the stock has made it less attractive.
Source: http://www.reuters.com/article/2013/10/23/markets-latam-stocks-idUSL1N0ID22D20131023?feedType=RSS

Stocks: Momentum fades with earnings eyed

3 To find out more about Facebook commenting please read the Conversation Guidelines and FAQs Stocks close lower after recent record run Adam Shell, USA TODAY 5:29 p.m. EDT October 23, 2013 The stock market needs good news to keep going up. But Wednesday it got bad earnings news from economic bellwether Caterpillar, which threw cold water on the rally. NEW YORK, NY – AUGUST 23: The Nasdaq stock market is viewed one day after the the electronic exchange experienced a a three-hour trading delay due to a technical problem on August 23, 2013 in New York City. Both Wall Street and Nasdaq were operating normally on Friday with stocks up slightly in afternoon trading. (Photo by Spencer Platt/Getty Images) ORG XMIT: 178006093 ORIG FILE ID: 177469065 (Photo: Spencer Platt Getty Images) Story Highlights S&P 500 closed at record high in prior session Big earnings miss Best Stocks to Purchase by Caterpillar weighs on Dow Oil dips further below $100 a barrel; 10-year Treasury dips below 2.5% SHARE 20 CONNECT 30 TWEET 3 COMMENTEMAILMORE NEW YORK — Stocks, dragged down by an earnings miss from a key blue chip stock and news of coming bank stress tests in Europe, lost altitude Wednesday, a day after the S&P 500 set an all-time high and the Nasdaq composite set another 13-year high.
Source: http://www.usatoday.com/story/money/markets/2013/10/23/stocks-wednesday/3168519/

Stocks pause for a breather after record run

2013. All rights reserved. Most stock quote data provided by BATS. 2013 Cable News Network. A Time Warner Company.
Source: http://money.cnn.com/2013/10/23/investing/premarkets/index.html

Forex-dollar On Pace For Weekly Gain On Optimism About Debt Deal

Failure to break the stalemate before Thursday, the deadline to raise the debt ceiling, would leave the world’s biggest economy unable to pay its bills in the coming weeks, potentially having a catastrophic impact on financial markets. “The markets went home on Friday expecting a deal would be imminent. While there’s a heap of conciliatory language around, there’s no deal yet,” said Sam Tuck, currency strategist at ANZ Bank in Auckland. “Now that we’re in the week where the debt ceiling will be hit, the yen’s gaining on safe-haven bids.” Traders said bids for the U.S. dollar at levels near 98.00 yen helped to limit the yen’s rise. Analysts said market players were also probably wary of tilting bets too heavily in one direction, given the possibility of a last-minute deal to raise the U.S.
Source: http://www.reuters.com/article/2013/10/14/markets-forex-idUSL3N0I401W20131014

The absence of economic releases is making it that more difficult for traders and investors alike to get a better handle on what is actually occurring in the worlds biggest economy. The lack of data releases leads one to believe that the near-term prospect for the USD remains highly uncertain. In the event of a resolution to the government shutdown, dealers and investors will be expecting the greenback to strengthen marginally against low yielding currencies such as JPY, EUR, and GBP. At the same time, the likely http://www.etftradingsignals.com risk-on reaction would bias the USD lower against emerging market currencies. However, an extended shutdown will surely bring risk-aversion position trading back in style in spite of the dovish impact on the Federal Reserves tapering plans. This article is for general information purposes only.
Source: http://www.forbes.com/sites/deanpopplewell/2013/10/08/forex-dollar-directionless-as-data-drought-drags-on/

Market holidays in Japan and partial market closure in the United States on Monday added to the subdued mood. “I think people are kind of in limbo… A bit fearful but hopeful as well that something can be done before the deadline,” said Sim Moh Siong, FX strategist for Bank of Singapore. Low risk sentiment and worries about China’s economic strength weighed on growth-linked currencies like the Australian dollar. Data released on Saturday showed export growth in China, Australia’s top export market, fizzled in September to post a surprise fall.
Source: http://www.reuters.com/article/2013/10/14/markets-forex-idUSL6N0I40OD20131014

Here is an outlook on the major market-movers coming up. The ongoing battle between Democrats and Republicans continued last week reducing chances for a debt crisis resolution. An intervention by central banks cannot be ruled out. However minutes released from the last FOMC meeting revealed tapering decision was quite close. Many FOMC members suggested partial tapering in light of the strong economic data release a while back but recent releases before the meeting raised fresh concerns among the policy makers regarding tapering therefore a dominant majority decided not to taper the Feds monthly purchases of mortgage-backed securities. Will a debt crisis resolution hoist the US economy back on track?
Source: http://www.fxstreet.com/analysis/forex-weekly-outlook/2013/10/11/

“The ongoing fiscal drag would, in turn, likely keep the Federal Reserve from scaling back its monetary easing further into 2014.” The dollar index, which tracks the greenback against a basket of six major currencies, slipped 0.1 percent to 80.352. It’s on pace for a gain of 0.3 percent this week, the first weekly rise since early September. Options investors are curbing bets that profit from a stronger dollar, with one-week euro/dollar risk reversals showing options investors sought the smallest protection against the euro’s depreciation since January. One-year risk reversals show demand for euro puts, the right to sell the euro at a future date, at its smallest since April. The dollar rose 0.2 percent to 98.36 yen, having hit a session peak of 98.55 yen, according to Reuters data, the highest since Oct. 1.
Source: http://in.reuters.com/article/2013/10/11/markets-forex-idINL1N0I110L20131011

Obama Blames Boehner For Ongoing Government Shutdown

. (AP Photo/Charles Dharapak) John Boehner House Speaker John Boehner of Ohio walks to the House Chamber on Capitol Hill in Washington, Thursday, Oct. 3, 2013. President Barack Obama laid the blame for the government’s partial shutdown at the feet of Boehner Thursday, escalating a confrontation that is running the risk of a potentially damaging clash over the nation’s borrowing authority. (AP Photo/ Evan Vucci) Nancy Pelosi House Minority Leader Nancy Pelosi of Calif. arrives for a news conference about the ongoing budget fight, Thursday, Oct.
Source: http://www.huffingtonpost.com/2013/10/06/rand-paul-obama_n_4053787.html

view is that Iran is at least a year away from being able to produce a nuclear weapon, double the six months cited this week by Israeli Prime Minister Benjamin Netanyahu, who has expressed deep distrust of Tehran’s intentions — calling Houssani “a wolf in sheep’s clothing.” “What I’ve said to Prime Minister Netanyahu is that the entire point of us setting up sanctions and putting pressure on the Iranian economy was to bring them to the table in a serious way to see if we can resolve this issue diplomatically,” Obama said. “And we’ve got to test that. We’re not going to take a bad deal. We are going to make sure that we verify any agreement that we might strike.” One more thing … Though much of the interview focused on the sport of politics, it ended on the politics of sport. Asked about the Washington Redskins, a name some people consider to be insulting to Native Americans, the nation’s first black president said he would be open to changing the name if he owned the team.
Source: http://www.cnn.com/2013/10/05/politics/obama-interview/index.html

Obama Says Boehner Is Bluffing: ‘Hold a Vote’

4, 2013. (Photo: Charles Dharapak, AP) President Obama: I won’t negotiate with GOP until it reopens government SHARE 3385 CONNECT 138 TWEET 462 COMMENTEMAILMORE President Obama insists he will not negotiate major budget issues with congressional Republicans until they vote to reopen the government and to lift the debt ceiling. “There are enough votes in the House of Representatives to make sure that the government reopens today,” Obama told the Associated Press in an interview. The president added: “And I’m pretty willing to bet that there are enough votes in the House of Representatives right now to make sure that the United States doesn’t end up being a deadbeat.” House Speaker John Boehner, R-Ohio, and other Republicans who want to attach a delay to Obama’s health care plan have criticized Obama’s refusal to negotiate as the government shutdown enters its fifth day and a debt crisis looms. “The White House’s refusal to negotiate is putting the nation at risk of default,” said Boehner spokesman Brendan Buck. “If we’re going to resolve this, we’re going to have to work together.” Potential consumers should not give up on the new health care exchanges because of initial computer glitches.
Source: http://www.usatoday.com/story/news/politics/2013/10/05/obama-associated-press-interview-government-shutdown/2926989/

Obama’s Asia summit no-show: How it looks from over there

By the time the week was over he had sold more than 10 works, with prices ranging from $1,800 to nearly $3,000. – [/] A performance spectator admires some of the pieces at Basel Art. – [/] Photo A performance piece at Basel Scope, done by an unidentified nearly naked man who moved in slow motion up and down the aisles dressed like a Greek version of Mars, the god of war. – [/] Photo A performance piece at Scope. The man clutched a staff, on which a plastic container for motor oil with the BP logo was impaled.
Source: http://www.globalpost.com/dispatch/news/regions/asia-pacific/131007/obama-asia-summit-cancellation-china-victory

Obama Says No Negotiations Until Debt Ceiling, Funding Settled

Kelly Mumper, an early education worker with three children in the military, was one of 150 workers who had to stop providing care for 770 children enrolled in an early childhood education facility in Alabama, the president said. “I am extremely concerned for the welfare of these children,” Obama quoted Mumper as saying in a letter she wrote him. Obama recounted another story about Julia Pruden, a North Dakota woman who said she wouldn’t get a loan to buy a house under a Department of Agriculture rural development program in the event of a government shutdown. “These are just a few of the many heartbreaking letters I’ve gotten from them in the past couple weeks – including more than 30,000 over the past few days,” he said. “I know that Republicans in the House of Representatives are hearing the same kinds of stories.” The standoff, which began at the start of the new fiscal year on Tuesday and shuttered all but essential government operations, is the latest in a series of budget standoffs between Obama and congressional Republicans.
Source: http://www.reuters.com/article/2013/10/05/us-usa-fiscal-obama-idUSBRE99403I20131005?feedType=RSS

Obama: Shutdown hurts government operations

Call a vote right now and lets see what happens. Boehner said Sunday that there arent enough votes to end the shutdown without Obama negotiating to delay or otherwise make changes to the new health care reform law, a statement that cut sharply against vote counts done by news organizations and the statements of numerous moderate Republicans who have publicly said they would join with Democrats to reopen the government at current spending levels if Boehner allows a bill to come to the floor. There are not the votes in the House to pass [a clean spending bill], Boehner said. One of the moderate Republicans who favors passing clean funding bill a so-called continuing resolution funding the government without changes to the health care law said moments after Obamas remarks that he agrees there are enough votes. I believe there are the votes to pass a clean [continuing resolution], Pennsylvania Republican Rep. Charlie Dent said on CNN.
Source: http://swampland.time.com/2013/10/07/obama-says-boehner-bluffing-hold-a-vote/

Obama demands quick House vote on shutdown

Boehner to hold a vote. If Republicans and Speaker Boehner are saying there arent enough votes, then they should prove it, Mr. Obama said. Let the bill go to the floor and lets see what happens. Just vote. Some Republican lawmakers dispute the speakers assessment of the likely vote tally, saying there are probably enough bipartisan votes to approve a short-term budget without addressing Obamacare or any other legislation. Mr.
Source: http://www.washingtontimes.com/news/2013/oct/7/white-house-takes-tough-line-default-threat/

Obama: No negotiations with Republicans for now

Though about 200 FEMA staff members were recalled from furlough some without pay to prepare for Tropical Storm Karen in the Gulf of Mexico, at least 100 of them will have to be refurloughed, Obama said. “Their job has been made more difficult,” Obama told FEMA employees, praising them for performing their duties under “less than optimal situations.” Noting that Tropical Storm Karen dissipated, Obama said, “We dodged a bullet there.” STORY: Shutdown enters second week, no end in sight Obama again called on the Republican-run House to pass a spending plan and raise the debt ceiling with no conditions. Congress must raise the $16.7 trillion debt ceiling before the government hits it Oct. 17. Otherwise, Obama said, the government will have to default on its debts. House Speaker John Boehner, R-Ohio, and other Republicans want to negotiate provisions to a spending and a debt ceiling bill, including a one-year delay in Obama’s health care plan.
Source: http://www.usatoday.com/story/news/politics/2013/10/07/obama-shutdown/2936591/

Obama calls impact of government shutdown ‘heartbreaking’

There were few signs of the stalemate breaking a week into a government shutdown and 10 days from when Treasury Secretary Jacob J. Lew says the U.S. will exhaust measures to avoid breaching the debt ceiling. The administration has warned that breeching the debt ceiling would have catastrophic consequences for the economy that would ripple across the globe. Stocks Decline As the deadlock over funding the government and raising the debt limit drags on, stocks extended more… losses from last week with the MSCI All-Country World Index (SPA) sliding 0.4 percent to 382.12 at 11:59 p.m.
Source: http://www.bloomberg.com/news/2013-10-07/obama-says-no-negotiations-until-debt-ceiling-funding-settled.html

Photo Release — Nasdaq Welcomes Potbelly Corporation (nasdaq: Pbpb) To The Nasdaq Stock Market

NeoStem Inc. fell 9.6 percent to $7.09. Montage Tech fell 8.3 percent to $13.48. Prime Acquisition Corp. fell 6.9 percent to $10.20.
Source: http://www.businessweek.com/ap/2013-10-04/nasdaq-stocks-posting-largest-percentage-decreases

Monday’s switch is expected to increase trading volumes and boost investment into Nigerian companies, they said. It has been used in four sessions so far as Tuesday was a bank holiday. “The switch to Nasdaq is a welcome development… and it has increased the speed of executing trades,” one dealer told Reuters. Dealers can use the Nasdaq to trade cash, equities, bonds, exchange traded funds (ETFs) and, starting next year, derivatives, Ade Bajomo, the exchange’s executive director of market operations and technology, said in a statement on Friday. Dealers said the Nasdaq technology also makes it easier to monitor several markets at once on the same screen, such as equities, debt and ETFs, which it could not before.
Source: http://www.reuters.com/article/2013/10/04/nigeria-bourse-nasdaq-idUSL6N0HU23620131004?feedType=RSS

Nasdaq rockets 200% from 2009 bear market low

nor any of its affiliates makes any recommendation to buy or sell any security or any representation about the financial condition of any company. Statements regarding NASDAQ-listed companies are not guarantees of future performance. Actual results may differ materially from those expressed or implied. Past performance is not indicative of future results. Investors should undertake their own due diligence and carefully evaluate companies before investing.
Source: http://finance.yahoo.com/news/photo-release-nasdaq-welcomes-potbelly-155452275.html

Companies with market values of $15 billion or less accounted for 29 of the 30 stocks with the best gains from the 2009 low. And half of the top Nasdaq composite performers have current market values of less than $1 billion. These companies benefited from a number of forces, says Jack Ablin of BMO Private Bank, including continue reading this.. their focus on the U.S. economy. The U.S.
Source: http://www.usatoday.com/story/money/markets/2013/10/01/nasdaq-200-bear-market/2903825/