A lot of mutual pride swallowing is needed to avoid Grexit

Jul 06, 2015 16:42 pm UTC| Commentary

The Europeans hated the idea of the referendum. They like the result even less. To public opinion in core Europe, already tempted by throwing Greece out of the monetary union, the "big no" may be seen as the last straw....

Fed’s LMCI rises for second consecutive month in June

Jul 06, 2015 16:23 pm UTC| Commentary

The Federal Reserves Labor Market Conditions Index (LMCI) rose by 0.8 points in June, while the May increase was revised down to 0.9 from 1.3. This release, which includes data through last Thursdays June employment...

"No” set fate for Greece, Many options still on the table

Jul 06, 2015 15:55 pm UTC| Commentary

Greek citizens voted "No"on Sundaysreferendum to accept their creditors terms in exchange for financial aid, pension cuts and sales tax increases. As a result, media outlets immediately jumped to conclusions stating that...

ISM non-manufacturing index increases by less than expected in June, but details remain somewhat constructive

Jul 06, 2015 15:25 pm UTC| Commentary

The Institute of Supply Management (ISM) non-manufacturing index rose by 0.3 points to 56.0 in June, slightly below the median consensusforecastwhich called for a stronger gain to 56.4. "Details of the report were mixed,...

Increasing downside risks for the wheat crops in Europe, Canada and Argentina

Jul 06, 2015 10:23 am UTC| Commentary

The ongoing hot and dry conditions are reducing hopes of the EU wheat crop achieving close to last years record level. The same applies to the crop expectations in Canada: in the space of two weeks, the proportion of...

Corn and soybeans partly pare their recent gains

Jul 06, 2015 10:22 am UTC| Commentary

After the heavy rainfall and lower than expected stocks in the US had catapulted the corn price to a one-year high last week, it has now fallen slightly following a drier weekend and in the face of a stronger US...

Financial investors lose confidence in gold

Jul 06, 2015 10:15 am UTC| Commentary

Speculative financial investors continue to pose an obstacle to any price rise. In the week to 30 June, they more than halved their net long positions in gold to 15,600 contracts, which are currently at their lowest level...