Don’t discount Fibonacci numbers August 6, 2012 The use of Fibonacci numbers in technical analysis is something of a Marmite issue. The idea that stock markets encounter resistance at ratios based on some magic numbers is a load of nonsense to some. But many use Fibonacci numbers, and the retracement levels of support and resistance they determine, as the bedrock of their [...]
Analyst picks for 6 August 2012 August 6, 2012 CURRENCY STRATEGIST CHRIS VECCHIO My pick: Short Aussie-dollar, Aussie-Kiwi, long dollar-yen Expertise: Fundamental and technical analysis Average time frame of trades: A few hours to a few days A new short Aussie dollar-dollar position was established at $1.0565, after European Central Bank disappointment. The results of last week’s Fed meeting and the July non-farm payrolls [...]
LONDON WEEK AHEAD August 5, 2012 UK economics will be in the sspotlight this week, with the rrelease of the Bank of England inflation report, UK Trade Balance, the Producer Price Index and BRC Retail Sales Monitor. Results are expected today from Catlin Group, Morgan Sindall and Telecity Group, while in the US Chesapeake Energy is set to reveal figures. EasyJet [...]
WALL ST THE WEEK AHEAD August 5, 2012 DESPITE a ho-hum earnings season and central banks’ disappointing hopes for aggressive economic stimulus last week, US stocks held firm. After four days of losses, the benchmark Standard & Poor’s 500 index rallied on Friday, finishing the week in the positive for a fourth straight time and reaching three-month highs. Sustaining momentum are valuations that [...]
A hardworking manager of the UK’s ultra-wealthy August 5, 2012 FOLLOWING the 2008 financial crisis – when most people in financial services were losing their heads – Nathalie Dauriac-Stoebe was busy drawing up plans to go it alone by setting up Signia Wealth. She soon moved on from her role as a senior client partner at Coutts (and one of the four founding members of [...]
Don’t make a kangaroo’s dinner out of a business investment August 5, 2012 I WAS shocked when a good friend in Australia mentioned he’d invested $100,000 into a new business, planning to export kangaroo meat. It was a lot of money for him, and he came to me a little concerned that things weren’t right. He only shrugged when I asked “mate, you know I’ve been doing a [...]
Big business could be more engaged August 5, 2012 BARCLAYS and Vodafone have recently announced investments in London’s Tech City. No doubt some good will come out of this, but if collaborations between big businesses and start-ups are going to make a real difference, leaders of companies should look across the pond to Silicon Valley for best practice. In the Valley, the culture of [...]
FTSE retreats from 3-month high as ECB’s failure to act disappoints August 2, 2012 BRITAIN’S leading FTSE share index fell yesterday, retreating from a three-month high after the European Central Bank (ECB) failed to deliver widely expected stimulus measures to help tackle the Eurozone debt crisis. ECB president Mario Draghi said the bank would draw up a mechanism in coming weeks to make outright debt purchases to stabilise peripheral [...]
Shares drop for fourth straight day on Wall St August 2, 2012 US stocks fell for a fourth day yesterday after European Central Bank President Mario Draghi disappointed investors hoping for immediate action to contain the Eurozone debt crisis. One of Wall Street’s top market makers, Knight Capital Group, was fighting for its survival after a trading glitch that roiled markets on Wednesday wiped out $440m the [...]
US stocks slip on Fed inaction August 1, 2012 US stocks slipped yesterday on disappointment that the Federal Reserve offered no new measures to stimulate the economy and after a computer glitch at a brokerage triggered a spike in volatility shortly after the open. The market will now turn its focus to today’s highly anticipated European Central Bank amid expectations that the ECB could [...]