PERSONAL FINANCE NEWS June 15, 2011 BLOWING THE PENSION ON FAST CARS According to research from Prudential, 8 in 10 pensioners with company and private funds are taking lump sums averaging £21,500. They report that the average withdrawal is down 11 per cent on 2008, but an increasing number are blowing the cash on holidays, cars and DIY – potentially reducing [...]
Oil companies and banks help to push the FTSE 100 higher June 14, 2011 Britain’s top share index rose yesterday, with oil majors and banks gaining as above-forecast data from the United States and signs that the Chinese economy could avoid a hard landing boosted appetite for riskier assets. Britain’s FTSE 100 ended 29.67 points higher, or 0.5 per cent at 5,803.13 points, after inching up 0.1 per cent [...]
Retail figures drive US markets rally June 14, 2011 US stocks posted their biggest gains in nearly two months yesterday as retail sales figures allayed fears over the economy that had driven a six-week slump in the market. Many analysts said the rally was likely a one-day wonder. Though still weak, the retail sales data was not as bad as most had expected, which [...]
Greek credit is burning as the euro plays it cool June 14, 2011 AT THE beginning of the week, ratings agency S&P downgraded Greece to CCC, a hair’s breadth above default. With it looking likely that bond holders will be asked to contribute to the next bailout for Greece, the country seems to be well and truly up the river tributary without ancillary means of locomotion. In the [...]
EURO-SWISSIE OFFERS THE CLUE TO RISK June 14, 2011 LAST week, European Central Bank (ECB) chief Jean-Claude Trichet uttered the fateful phrase, “strong vigilance”, signalling that the central bank would hike rates by 25 basis points in July, to 1.50 per cent. However, instead of rallying, the euro-dollar promptly fell four big figures in the wake of the announcement. Part of the reason for [...]
No supermarket sweep in sight as sterling falters June 14, 2011 BETTER than expected CPI figures released yesterday saw a temporary reversal in the recent sterling decline. Despite this, the pound remains in a broadly weak position against the major currencies. With investors lacking in any belief that Mervyn King will raise interest rates at any point soon, the pound is struggling to find a taker. [...]
An FXCM/City A.M. seminar to help you get more from your currency trades June 14, 2011 IT always helps to get a bit more depth to your forex trading knowledge. On 23 June, FXCM will be presenting a forex trading seminar in association with City A.M.. Featuring an introduction by City A.M. editor Allister Heath, the main presentation will feature an insight into intraday trading strategies with DailyFX market analyst Alejandro Zambrano. [...]
FOREX ANALYST PICKS June 14, 2011 FOREX STRATEGIST JOHN KICKLIGHTER My pick: Short euro-dollar, kiwi dollar-dollar and Swiss franc-yen Expertise: Fundamental analysis with risk management Average time frame of trades: 1 day to 1 week We haven’t seen a wholesale shift in risk trends, rate forecasts or stimulus directives; and therefore we have come up light on trend. Last week’s sterling-dollar [...]
Oil is king for Norway’s krone June 14, 2011 EVER since the discovery, exploration and extraction of North Sea oil in the 1960s, Norway has been able to profit from the substance that keeps the wheels of the world’s economy turning. Like Canada’s Loonie, Norway’s currency is highly correlated with oil’s ups and downs. As such, “the recent rise in oil on the back [...]
THE TIPSTER June 14, 2011 AUSTRALIAN dollar-dollar has been trading sideways for about a month, since pulling back from the $1.1012 high reached at the start of May. A closer look reveals a very nice Fibonacci pattern in play, with $1.0532 the low support line, $1.0716 the 38.2 per cent retracement and $1.077 the 50 per cent retracement. After bouncing [...]