Posted on 9th October 2015 by barry norman in Stockpair Daily Insight

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Gold Takes A Tumble

October 9, 2015

Barry Norman


Investors Trading Academy

European equities traded fairly mixed (around zero) today due to the lack of significant market moving information.  US equities opened weak and slightly in the red, no significant trading movements are expected.

The ECB minutes show limited surprises, with most of the details being discussed during the ECB press conference last month. The ECB stated that the bond buying program is going along nicely, however, they do need more time to decide whether to beef up their quantitative easing program. ECB chief economist Peter Praet says the economic environment is characterized by seeping pessimism about long term growth. He says that these negative expectations on LT-growth are weighing on the euro-area recovery. The euro is trading at 1.1278 against a weakening US dollar.  The greenback dipped 20 points after the release of FOMC minutes on Wednesday.  Later today, US Federal reserve’s Kocherlakota and Williams are speaking.

The rally in European equities indeed did run into resistance, but didn’t lose ground basically drifted sideways near the flat-line. This put a floor for further USD losses. The indecisive trading pattern of the previous sessions continued. EUR/USD still traded in the 1.13 area around noon. USD/JPY changed hands in the 119.80 area. The dollar received again a better bid going into the start of the US trading session. EUR/USD returned to the mid 1.12 area. Soft comments from ECB’s Praet might have accelerated the move, even as he didn’t bring any new insights on ECB policy. The US jobless claims printed at a very low 263 000 and no special factors were mentioned.

yen nikkie

The Bank of England decided to leave its benchmark interest rate and asset purchasing target unchanged. As expected, the policy rate remains at 0.5% for the 79th month in a row after the monetary policy committee voted 8-1 against a rate hike. A soggy inflation and the emerging countries (especially China) are worrying the BoE. The pound climbed to trade at 1.5287 easing after the BoE decision. The EURGBP is trading at 0.7375 gaining steadily.

The Greece unemployment rate has stabilized in July at 25%, after the June number was downwardly revised from 25.2% to 25%. This was better than expected, with consensus foreseeing an increase to 25.4%.

european currencies friday

Gold-vs-Silver-vs-Platinum-vs-palladium forexwordGold futures were slipping in early Thursday trade as China’s week-long holiday concluded and as investors braced for the release of minutes from the Federal Reserve’s mid-September policy-setting meeting.

Gold dipped $9.50, or 0.8%, lower at $1,139.20 an ounce, and the precious metal looked likely to snap a three-session streak of gains that had brought it to its highest settlement since Sept. 24. Gold had been enjoying a modest rally as investors shifted expectations of an interest-rate hike—the first for the U.S. in nearly a decade. Although traders have said that the likelihood of a rate rise has been factored into the current price of gold, the Fed’s minutes could offer more detail about the pace and timing of the U.S. central bank’s plans, which could influence metals.

According to a Thursday research note by Commerzbank, precious metals were headed lower as traders consolidated some of the previous session’s gains. “Following the steep price rises of recent days, precious metals are seeing profit-taking this morning which is weighing significantly on prices,” the note said.

Posted on 8th October 2015 by barry norman in Stockpair Daily Insight

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Bank of England Super Thursday

October 8, 2015

Barry Norman


Investors Trading Academy

The US dollar traded in the green on Wednesday and hovered at 95.75 most of the afternoon.  There was a light economic calendar for the day with the Bank of Japan decision in the morning and crude oil inventories in the afternoon. German industrial production declined upsetting the euro and sparking more talk about the effects of the Volkswagen scandal on German growth. The euro declined 50 some points to trade at 1.1220 remaining well within its trading range.

Since the Federal Reserve left rates on hold on September 17, the dollar-bloc currencies have outperformed the euro, yen, and sterling, all three of which are lower against the dollar. So far this week, the New Zealand dollar is the strongest, rising 2.8%, followed by the Australian dollar’s 2.1% gain. The Canadian dollar is up 1%.

global currency

Higher commodity prices, including oil and copper, are lending support. The EIA’s warning that U.S. output will slip through the middle of next year helped lift the November light sweet crude oil futures contract to almost $50. This is its highest level since late-July. The New Zealand dollar was aided by a good dairy auction. Yesterday, the RBA signaled no urgency to cut rates. The U.S. dollar briefly slipped below CAD1.30 for the first time since mid-August.

The big news today was the jump in UK industrial and manufacturing production numbers. The pound climbed to 1.5285 up by 60 points against the strong US dollar. Against the euro the pair fell 66 points to 0.7337. he pound rose to a two-week high versus the dollar after growth in U.K. industrial production beat the highest forecast in a Bloomberg survey of economists.

us dollar

Sterling strengthened against all but two of its Group-of-10 peers after data showed total production were boosted in August by increases in gas extraction and making transport equipment. The pound was on course for its biggest daily gain in more than two weeks versus the euro as the U.K. data contrasted with the situation in Germany, where a report showed industrial output unexpectedly dropped as the nation grappled with China’s slowdown.

european currency wed

Bank-of-England-notes-014Thursday’s big attraction will be the Bank of England meeting. The timing of interest rate rises remains front and center for the British pound – as a general rule of thumb if the date for the first rate is pushed back so the value of the currency falls. It is therefore a bearish event for the UK currency when markets and leading investment bank researchers push back their expectations for that first rate rise, and subsequent follow up rises.

The Bank of England’s Monetary Policy Committee is expected to keep interest rates at the historic low of 0.5% this week aimed mounting concern that the economy is slowing down amid a renewed period of uncertainty.

Rates have remained unchanged at 0.5% for more than six years and are not expected to rise until next year.

The Bank’s Monetary Policy Committee (MPC) on Thursday is likely to weigh up developments such as accelerating wage growth and the country’s recovering economy, against the global turmoil caused by China’s slowing trade performance and the UK’s sluggish export growth.

Posted on 7th October 2015 by barry norman in Stockpair Daily Insight

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Quiet Trading Session

October 8, 2015

Barry Norman


Investors Trading Academy

The greenback traded a bit stronger against the euro which weakened to $1.1179. The dollar is trading softer though largely within yesterday’s ranges against the major currencies. The rally in equities carried over into Asia but European markets are narrowly mixed, and US shares are trading lower. German factory orders disappointed.  They fell 1.8% in August.  The market had expected a 0.5% increase.  Adding insult to injury, the July series revised to a 2.2% decline rather than a 1.4% fall.  Domestic orders fell 2.6% in August.  Foreign orders fell 1.2%, but a strong 2.5% increase in orders from the Eurozone mitigated the drop.  The euro eased less than a quarter of a cent on the news.

In addition to the Canadian data, the North American session features the US trade figures and two Fed officials. The newly introduced flash merchandise trade report already warned of a large shortfall, with weak exports. Confirmation may pose headline risks but not contain much new information.

european currency

In other currency markets the dollar was flat against the yen, as investors remained reluctant to take positions before the Bank of Japan concludes its two-day policy meeting. Meanwhile, the Australian dollar strengthened following the central bank’s decision to stand pat. The greenback was at ¥120.48, almost unchanged from ¥120.46 late Monday in New York.

In precious metals, Gold continued to gain on Tuesday as the dollar eased in the wake of disappointing US economic data that has raised doubts over a Federal Reserve rate rise this year. Gold ticked up 0.2 percent to $1,138.11. Prices had hit a one-week high above $1,140 in the previous session, supported by a weaker dollar.

The massive drop in crude oil prices over the past year is about to end, according to the secretary general of the Organization of the Petroleum Exporting Countries Abdalla Salem el-Badri. Because investment in new or expansion projects has plummeted, supply will tighten and as supply falls, prices inevitably rise.

There have been reports that OPEC representatives would meet with Russian oil producers to discuss oil prices, and that led to conjecture that OPEC and Russia would agree to reduce production. That was enough to prop up crude prices Monday, but November Brent prices on Tuesday bounced from a low of $48.86 to a high of $49.46 as there seems to be little substance behind the rumors.

global equities

Posted on 6th October 2015 by barry norman in Stockpair Daily Insight

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Traders Remain Uneasy

October 6, 2015

Barry Norman


Investors Trading Academy

gold and nfpUS equity markets traded higher as solid gains in European and Asian markets helped extend a rally begun late Friday. The S&P added 22 points, or 1.2%, to 1,974 with all 10 main sectors trading higher. The Dow Jones jumped 184 points, or 1.1%, to 16,657.

The NASDAQ was in the green by41 points, or 0.9%, at 4,749, while Russell added 13 points or 1.2%, to 1,127.

Markets had trimmed some of their gains after the Institute for Supply Management’s nonmanufacturing index for September showed a weaker-than-expected reading of 56.9%—the lowest readings since June. But stocks bounced back quickly.

European shares kicked off the week sharply higher on Monday, with a jump in commodity prices and for resource companies helping to bolster the region’s bourses.

The greenback was lower against most other crosses, with the DX down 0.1% at 95.778. The services sector in the Eurozone expanded less than expected in September, with the final purchasing managers’ index for the sector dropping to 53.7, from 54.4 in August. This was below analyst expectations and weaker than the flash estimate of 54. A reading above 50 signals expansion. The composite PMI for the Eurozone fell to 53.6 in September, down from the flash reading of 53.9 and below 54.3 in August. The U.S. currency was lower against the euro which rose to 1.1227 from 1.1208 late Friday.

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Gold prices moved between gains and losses Monday as traders continued to mull the impact of last week’s disappointing monthly U.S. jobs report and the likelihood that the Federal Reserve will continue to delay a hike in interest rates. Gold was down $1.70, or 0.2%, to 1,134.90 an ounce on Comex after tapping highs above $1,141 early in the session.

Oil and most metals gained on expectations that China may take actions to stimulate its economy, which may help boost demand. But the market may see some pressure from the continuing market-share and price war among oil producers. Saudi Arabia unexpectedly announced Sunday that it will slash its oil prices.

oil prices monday

Posted on 5th October 2015 by barry norman in Stockpair Daily Insight

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US Jobs Report “BAD”

October 5, 2015

Barry Norman


Investors Trading Academy

In a surprise turn around US stocks ended higher despite a report showing the US added just 142,000 jobs in September, way under projections. The Dow climbed 200.36 points to 16,472.37 on Friday. The S&P 500 jumped 27.54 to 1,951.36, while the Nasdaq Index gained 80.69 at 4,707.78.

US stocks opened sharply lower following the jobs report, which one leading analyst labeled “decidedly bad.” However, markets turned at midday and picked up considerable buying momentum in the last hour of trade.

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European stocks have shrugged off disappointing US data, rallying to close higher as slower job creation was seen pushing back the timing of a US interest rate hike. Major European stock indices turned sharply lower after data showed the US economy added far fewer jobs than expected in September and hiring was weaker in the prior two months.

London’s FTSE 100 bounced back to end the day with a gain of 0.95 per cent to 6,129.98 points. Paris’ CAC 40 index rose 0.73 to 4,458.88 points and Frankfurt’s DAX 30 added 0.46 per cent to 9,323.28.

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In foreign exchange deals, the euro rose to $1.1274, up from $1.1187 late in New York on Thursday, shooting up as the prospect of an early rate hike had been propping up the US dollar.

In other currency markets most US crosses were trading higher as the greenback declined after the disappointing jobs data. The Reserve Bank of Australia holds its October board meeting on Tuesday, where it is widely expected to hold interest rates at their record-low level of 2 per cent. The Aussie reached a week high of 0.7007 in the morning after promising retail sales data was released before plunging following overseas markets as analysts positioned for US jobs data to finish the week at 0.7002.

european currency freida

In precious metals, gold prices climbed adding up to a bullish backdrop for safe-haven assets such as precious metals. Gold prices were down nearly 1 per cent earlier in Friday’s trading session but reversed losses after the release of the data. The most actively traded contract was up 1.7 per cent to $1,132.60.

gold after

Posted on 2nd October 2015 by barry norman in Stockpair Daily Insight

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Nonfarm Payroll Report Next Up

October 2, 2015

Barry Norman


Investors Trading Academy

gold-demand-is-decliningGold was trading near its lowest in two weeks on Thursday after a four-day losing streak, as strong US private-sector jobs data bolstered views the Federal Reserve will hike rates this year. The absence of top consumer China, which broke for a one-week holiday from Thursday, is likely to keep gold prices in a tight range during Asian hours. Traders were also waiting for US nonfarm payrolls data due on Friday before placing big bets.

US private employers added a stronger-than-expected 200,000 jobs in September, payrolls processor ADP said on Wednesday. Though other data showed factory activity in the US Midwest contracted, investors cheered the jobs data, sending the dollar up on hopes of a rate hike this year.

Commerzbank said: “If the labour market report in the US turns out to be better than anticipated tomorrow, this would increase the probability of a Fed rate hike before the year is out.”

Yesterday, Federal Reserve chair Janet Yellen kept investors guessing as she failed to give any new indication about the first interest rate hike.

Meanwhile the People’s Bank of China appears to have switched to publishing a monthly report of its gold reserve holdings.

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Janet Yellen has said the timing of a rate hike is data dependent. Gold has come under pressure from expectations the Fed is set to hike rates this year, potentially lifting the opportunity cost of holding non-yielding bullion while boosting the dollar, in which it is priced.

Holdings in SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, rose 0.48 per cent to 687.42 tonnes on Wednesday, but the gain failed to support prices.

Gold was trading less than $2 lower to $1,113 today. Elsewhere, silver was broadly flat at $14.48 while platinum nudged higher to $910.

Platinum had fallen to $894, its lowest since late 2008, earlier this week on fears that revelations of Volkswagen’s falsification of US vehicle emission tests could affect demand for diesel cars. Platinum is widely used in emissions-controlling automotive catalytic converters, particularly for diesel engines.

gold thurs

Posted on 1st October 2015 by barry norman in Stockpair Daily Insight

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The Eurozone Deflates

October 1, 2015

Barry Norman


Investors Trading Academy


A new month and a new quarter as traders remain uneasy. There is a sense of fear in the markets. US markets are ending the month deep in the red. Biotech’s continue to suffer from Hillary Clinton’s comments while DieselGate expands. Volkswagen doesn’t seem to be able to find a winning PR approach or a spin on this scandal.

Wall Street held on with solid gains on the last day of the month and quarter Wednesday, but are still on track to post substantial monthly and quarterly losses. The main indexes are on track to post the biggest quarterly decline since September 2011. The S&P 500 was 21 points, or 1.1%, higher at 1,905. The Dow Jones was lower 170 points, or 1.1%, higher at 16,219. The NASDAQ began the day up 66 points, or 1.5%, at 4,584. European equities were strong, reversing the losses of the past two days.

The September Chicago PMI was weak, with the headline index dropping to 48.7, coming from 54.4. This was well below the consensus, which forecasted a small drop to 53.0. . The US ADP employment report remained good, but was too close to expectations to trigger a reaction ahead of Friday’s payrolls. The greenback climbed to 96.50 up by 44 points.

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The Eurozone unemployment rate remains at 11% after last month’s data was upwardly revised from 10.9% to 11%. This was above consensus, expecting it to stay at 10.9%, which was the initial August estimate. More good news hailed from Italy, with the unemployment rate falling unexpectedly to 11.9%, the lowest level in more than two years. However, the CPI data was a bit weaker, dropping to 0.2% Y/Y from 0.4% Y/Y, slightly below the expected 0.3% Y/Y.

Eurozone headline inflation turned negative for the first time since March, but after yesterday’s negative readings in Spain and Germany, this didn’t really come as a surprise. Core inflation remained stable at 0.9% Y/Y. While the negative CPI number strengthens the ECB’s case of a QE extension. The euro tumbled to trade at 1.1168 falling 81 points.

eurozone inflation

The UK economy grew by 0.7% in the second quarter according to the final Q2 data. However, when looking on a yearly basis, the UK economy grew by only 2.4% Y/Y, below the expected 2.6% Y/Y growth. Today, there was a slight improvement in sentiment vis-à-vis the UK currency. Easing of global tensions was a slightly positive for the sterling as it was for the dollar.

However, the UK data played some role too. UK Q2 GDP growth was confirmed at 0.7% Q/Q. Current account data are usually no factor for currency trading. However, this time the Q2 current account was much smaller than expected. At the same time, the services index suggested ongoing solid growth at the start of the third quarter.

Decent UK eco data combined with a constructive global sentiment triggered a rebound of sterling after a disappointing performance of late. Cable retested the recent low in the 1.5130 area this morning, but rebounded after the publication of the data. The pair trades currently at 1.5190, up from 1.5150 in the opening. EUR/GBP dropped below the 0.74 barrier and trades currently at 0.7370. The pair is still rather close to the recent highs around 0.7430. So, sterling underlying sentiment on sterling remains fragile.

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Commodities are taking moving strongly higher today following a string of steep losses. Copper has taken a big jump of more than 2.5% today; Brent Crude is also up more than 2% over the past two days.


Posted on 30th September 2015 by barry norman in Stockpair Daily Insight

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Markets Slowly Recovering

September 30, 2015

Barry Norman


Investors Trading Academy

European equities recovered from a weaker opening. After sideways trading during European dealings, indices slid back into the red this afternoon. US equities opened mixed and couldn’t profit from stronger consumer confidence. U.S. stocks gave up some of their early gains in afternoon trading on Tuesday as investors remained cautious amid lingering concerns about the health of the global economy.

A rebound in health care stocks, which looked set to snap a 7-day losing streak, provided some succor to investors worried about a China-led global slowdown.

Global stocks touched a two-year low on Tuesday as the outlook for raw materials prices and emerging markets remained soft.

US consumer confidence was significantly better than expected, jumping from 101.3 in August to 103.0 in September and surprising the consensus, which expected a decline to 96.8. With third-quarter earnings season looming, Goldman Sachs said on Tuesday it expects sales growth for S&P 500 companies to shrink this year for the first time in five years.

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The Eurozone’s economic confidence for September reached its highest level since mid-2011. The economic confidence indicator jumped by 1.5 points to 105.6 in September, significantly above the market consensus of 104.1.

The EU consumer price inflation rate for Spain dropped to -1.2% Y/Y for September, coming from -0.5% in August. Also German inflation surprised on the downside and is back in negative territory. In Germany, the DAX edged down 0.3 percent, and in France, the CAC 40 also declined 0.3 percent. The FTSE 100 fell 0.8 percent in Britain.

Ireland keeps putting up solid numbers, with the Irish unemployment rate dropping from 9.5% in August to 9.4% in September, the lowest level of unemployment since January 2009.

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The moves in the major USD cross rate rates were limited given recent volatility on other markets. The commodity driven sell-off continued in Asia. Most Asian equity indices ceded around 3%-4%, with China slightly ‘outperforming’. The commodity crisis also hits the commodity currencies hard. AUD/USD dropped back below the 0.70 mark. The Canadian dollar weakened further against the USD with USD/CAD rising north of 1.34. The losses in the kiwi dollar are moderate at around 0.63. The equity sell-off also weighed on the dollar against the euro and the yen as market stress makes a Fed rate hike less likely. The euro edged up to $1.1248 and the dollar slipped to 119.68 yen.

Posted on 29th September 2015 by barry norman in Stockpair Daily Insight

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Fed Speaker Tell Markets Rate Increase Near

September 29, 2015

Barry Norman


Investors Trading Academy

“Last week, Fed drama; next week, fiscal drama,” Bank of America Merrill Lynch’s analysts quipped. Volatility continues to reign in the stock market. The S&P 500 fell 1.3% last week. At 1,931, the index is now down 6.1% for the year. The federal government is funded only through Wednesday but House Speaker John Boehner says there won’t be a government shutdown.

Speaking on CBS’ “Face the Nation,” Boehner confirmed plans to pass a short-term funding bill with Democrats’ help. The Ohio Republican, who announced Friday he is resigning from Congress at the end of October, also said he will set up a committee to investigate Planned Parenthood. Before announcing his resignation, Boehner was under pressure from conservatives to deny the group federal money.

Expect lots of drama. Then again, drama and uncertainty define the nature of the economy and the markets. It’s always been that way. Gold futures retreated in early Monday trade as strength in the U.S. dollar dragged the precious metal lower along with other precious metals.

The prospect of higher rates has boosted the dollar diminished the appetite for gold, which doesn’t bear interest. A stronger buck also makes the metal less attractive to investors who purchase dollar-denominated assets in other currencies. The US dollar climbed to trade at 96.53 while gold fell to 1129.60.


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On Thursday, Fed Chair Janet Yellen told an audience at UMass Amherst that while current inflation readings remain low, those numbers are being held down mostly is “transitory” special factors.

“I expect that inflation will return to 2% over the next few years as the temporary factors that are currently weighing on inflation wane, provided that economic growth continues to be strong enough to complete the return to maximum employment and long-run inflation expectations remain well anchored,” Yellen said, who also reiterated her expectation for an initial fed funds rate hike this year.

In case you haven’t been paying attention, the US government will shut down if Congress can’t agree on a fiscal 2016 budget by September 30. Analysts say the odds of a shutdown are actually quite low, and if a shutdown were to occur, it probably won’t be that bad.  Bank of America Merrill Lynch equity strategist remembers the shutdown of 2013: “We have seen this movie before. While the driver for disagreement in Washington revolves around Planned Parenthood, a social issue, today, the current environment has numerous other similarities with 2013: taper talk in 2013 replaced by tightening talk today, a sluggish but improving economy, and tensions in Washington DC bubbling up, according to the Economic Policy Uncertainty Index.

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Members of the Federal Reserve Board will be speaking all week.

On Monday New York Fed President Dudley was interviewed by The Wall Street Journal’s Jon Hilsenrath on a variety of topics including interest rate increases and inflation expectations.

Also Chicago Fed President Evans, spoke on “A Perspective on Monetary Policy.” To round out the day, San Francisco Fed President Williams spoke in Los Angeles on the U.S. economic outlook.

On Wednesday, New York Fed President Dudley delivers the keynote address at a liquidity forum sponsored by SIFMA. Wednesday afternoon Fed Chair Yellen and St. Louis Fed President Bullard speak in St. Louis at the Fed’s annual community banking conference. Later that evening Fed Governor Brainard also speaks at the Fed conference on the outlook for community banking.

On Thursday, San Francisco Fed President Williams speaks in Salt Lake City, delivering a speech on the U.S. outlook. On Friday, Fed Vice Chairman Fischer speaks in Boston on monetary policy. Other conference speakers include Boston Fed President Rosengren, New York Fed President Dudley, Cleveland Fed President Mester and Minneapolis Fed President Kocherlakota. Clearly, the financial markets will be balancing Fed officials’ comments this week alongside the indicators to judge where policymakers stand as they head towards the October 27-28 FOMC meeting.

stockpair gold

Posted on 28th September 2015 by barry norman in Stockpair Daily Insight

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President Putin Speaks To The World

September 28, 2015

Barry Norman


Investors Trading Academy


Last Thursday Ms. Yellen praised the health of the US economy. Friday data shows that the economy grew at 3.9% annualized Q/Q, up from a second estimate of 3.7% Q/Q growth. The revision was mainly due to higher household consumption. The US dollar surged to trade at 96.37 regaining its post FOMC decision declines. Yellen argued Thursday that the persistently low inflation warrants the Fed’s rates to currently be at zero. But she reiterated again that a rate hike by the end of the year is likely.

“I anticipate that it will likely be appropriate to raise the target range for the federal funds rate sometime later this year,” Yellen said in a speech Thursday evening at the University of Massachusetts.

The euro fell to trade at 1.1195 with losses limited by comments from ECB members that there will be no additional stimulus.  The money supply (M3) in the euro zone slowed sharply down in August after an uptick in July, with a drop to 4.8% Y/Y. This was lower than the consensus expectations of 5.3% Y/Y growth. Loan growth continued to improve slowly though.   ECB member Bundesbank Weidmann sounded positive on the euro area economy, as he called the euro area recovery solidified and exaggerated deflation fears have diffused. In some covered critic on the ECB he said monetary policy should look through price swings.

european currency

The stock market has sold off sharply since the Fed didn’t raise rates. The NASDAQ has erased all gains for the year and the Dow is back below its 10% correction level. Investors have been “dazed and confused” by the Fed’s plans — and whether the global economy is going to be a drag on America.

Keeping in her even-handed style, Yellen said that if the economic outlook worsens later this year, the Fed could push back a rate hike until 2016. The Dow Jones gained 113 points, or 0.7 per cent, to close at 16,315, pulling back from a gain of 264 points earlier in the session. The S&P 500 fell 0.1 per cent and the biotech-heavy Nasdaq Composite lost 1.0 per cent. European markets climbed sharply. The Stoxx Europe 600 gained 2.8 per cent, but it notched its second consecutive weekly decline.

Friday’s moves continue a recent pattern of sharp daily stock market swings. Investors say the twin uncertainties of the timing of Fed lift off and the health of the Chinese economy have left markets jumpy.

global equities

In commodity markets, US-traded crude oil gained 1 per cent to $45.37 a barrel, though Brent crude in Europe eased. Gold futures lost 0.8 per cent to $1,145.10 a troy ounce.

This coming week will focus on President Putin’s UN address Janet Yellen’s speech and a bevy of US jobs data culminating with the Nonfarm payroll report on Friday.