A quick word of warning before you make your way through this article: In the beginning of this article, we are going to discuss some complicated subject matter. And after teaching traders the nuances of the Forex market for the past few years, I’ve noticed that many traders don’t like mathematics. For those folks, the first part of this article may be treacherous. BUT – after the first part, we offer a very simplistic way to accomplish the same goal. So, if you abhor mathematics or even if you just want to get to the ‘easy way,’ feel free to scroll down to ‘The Easy Way...continue
Home buyers are encountering new hurdles to getting a mortgage thanks to the government shutdown.
As the shutdown enters its tenth day, some lenders are delaying mortgage approvals and others are refusing applications entirely. Originations of mortgages backed by the U.S. Department of Agriculture, which are given to buyers in rural areas, came to a halt after the agency shut down last week. Separately, some lenders say it’s taking longer to process mortgages that are insured by the Federal Housing Administration, which has been operating with a limited staff since the shutdown. And some lenders are not originating mortgages at all until they can once again verify applicants’ income with the Internal Revenue Service, which is shut down. As the shutdown drags on, even more mortgage applications could be derailed. “The first day we weren’t too concerned, but now we are a week in and procedural issues are starting to affect more loans,” says Mark Goldman, a senior loan officer at San Diego-based mortgage brokerage C2 Financial Corp...continue MADRID (MarketWatch) -- U.S. stock-market futures were piling on losses early Wednesday as investors grew increasingly worried about political loggerheads over the budget and the potential impact on debt-ceiling negotiations. A European Central Bank meeting and an Italian vote of confidence on the government there are also on the cards for Wednesday. Futures for the Dow industrials DJZ3 -0.66% fell nearly 100 points, or 0.7%, to 15,021, while those for the Standard & Poor's 500 index SPZ3 -0.76% fell 12.70 points, or 0.8%, to 1,676.70. Futures for the Nasdaq 100 index NDZ3 -0.66% dropped...continue
U.S. stocks dropped on Wednesday, with the S&P 500 index recording its longest decline since December, as a possible government shutdown overrode better-than-forecast economic reports.
“It’s been a very good year for the stock market, but people are pausing to worry about what is going on in Washington. One of the few things you can say about the stock market is it hates uncertainty,” said David Kelly, chief market strategist at J.P. Morgan Funds...continue Regulators in the U.S. and U.K. are expected to fine J.P. Morgan Chase & Co. more than $900 million for actions tied to its 2012 “London” trading debacle, according to a person familiar with the settlement talks....continue
US DOLLAR TECHNICAL ANALYSIS – Prices broke support in the 10646-57 area marked by the August 16 low and the 61.8% Fibonacci expansion. Sellers are now testing the 76.4% level at 10620, with a push beneath that targeting the 100% Fib at 10561. Alternatively, a move back above 10657 initially eyes the 50% expansion at 10687...continue
Bank of Canada Governor Stephen Poloz kept his main interest rate unchanged and reiterated that current monetary policy remains appropriate as an expected rotation of demand to exports and investment is being delayed.
Policy makers kept the benchmark rate on overnight loans between commercial banks at 1 percent for the 24th consecutive meeting and said slack in the economy will start to disappear in 2014. The decision from Ottawa was forecast by all 22 economists in a Bloomberg News survey. “A gradual normalization of policy interest rates” can be expected as inflation returns to target and excess capacity in the economy is used up, policy makers led Poloz, 57, said in a statement from Ottawa today, echoing the last decision...continue |