There isn’t an alternative to Greek default June 21, 2011 GREECE is in a dire state. While people protest in the streets, bond yields consistently point towards expectations of a default. Things are going to be bad, but if the key actors continue to deny the inevitable, the tragedy will play out even worse. As such, forex traders need to keep on their toes. SEEING [...]
AFTER GREECE, THE EURO WILL LOOK TO DATA June 21, 2011 CURRENCY markets were in a state of suspended animation, awaiting the Greek no confidence vote. But the verdict of the parliament in Athens wasn’t surprising. Prime Minister Papandreou was never likely to lose, despite the fact that he had a majority of just five in the parliament of 300. The stakes were simply too large. [...]
THE TIPSTER June 21, 2011 STERLING-yen continues to come under pressure as it hit a low yesterday not seen since the earthquake related slide in mid-March of ¥129.73. Heavy pressure on dollar-yen and a similarly weak cable helped to push it lower. It looks intent on testing the support areas around ¥129.15-¥128.70, so anyone tempted to buy this pair should [...]
Keeping track of your company’s total emissions makes sense on every level June 21, 2011 HEAD OF ACCA UK IT’S fair to say that climate change issues have stormed into the mainstream of political debate over the past couple of decades. David Cameron’s 2006 trip with the huskies and the consequent “vote blue, go green” strapline wouldn’t have been possible without the change in perception of green issues; “climate change” [...]
Looking into the Fed’s crystal ball June 21, 2011 CHARLES SCHWAB LIZ ANN SONDERS We believe monetary policy is largely on hold for the near to medium-term. It’s unlikely the Fed will begin to let its balance sheet shrink; as such, “QE 2.5” – reinvesting proceeds from maturing Treasuries to maintain the level of its balance sheet – would be considered a go once [...]
FOREX ANALYST PICKS June 21, 2011 FOREX STRATEGIST JOHN KICKLIGHTER My pick: Long sterling-Swissie, short Kiwi-dollar and Swissie-yen Expertise: Fundamental analysis with risk management Average time frame of trades: 1 day to 1 week Last week’s short euro-dollar setup with a $1.4300 breakout worked out well; but without a $1.4000 break the trend dried up. I’ll keep an eye on this [...]
China makes the very best of neighbours for Australia June 21, 2011 WHILE Australia’s first stock exchange officially opened in Melbourne in 1861, some 10 years after the start of the Gold Rush, the national Australian Stock Exchange was not established until more than 100 years later, in 1987. But ASX Group, current owner of the entity created by the merger of the Australian Stock Exchange and [...]
HKEx: a global IPO hot-spot June 21, 2011 THE Hong Kong Stock Exchange (HKEx) is Asia’s third largest exchange in terms of market capitalisation, after Tokyo and Shanghai. It was first established in 1891, although informal exchanges were taking place in Hong Kong for some thirty years previous to that date. Nowadays, the exchange has become well-known for attracting big international companies – [...]
A HAVEN OF FREE TRADE SHOWS THE WAY TO CHINA’S OPENING MARKETS June 21, 2011 HEAD OF PRODUCT, BARCLAYS STOCKBROKERS THIS week takes us to Asia-Pacific; to Australia, Hong Kong and Singapore. All three offer investors access to China but none more so than Hong Kong. FRAGRANT HARBOUR Hong Kong is Asia’s second largest exchange by market capitalisation and was formed in 1980 by a merger between the Far East [...]
Banks and commodities fall as Greek debt crisis lingers June 20, 2011 BANKS and commodity stocksdragged Britain’s top index lower yesterday, as Greece’s lingering debt crisis looks likely to stall the FTSE’s progress near-term, analysts said. Investors reacted negatively after European finance ministers postponed a final decision on extending a further €12bn in emergency loans to Greece. The International Monetary Fund weighed in, saying it needed to [...]