WORLD FEARS NEW CHINESE TIGHTENING September 1, 2009 BORIS SCHLOSSBERGDIRECTOR OF CURRENCY RESEARCH, GFT ALTHOUGH this week’s global calendar is packed with key economic data, the most important event for the currency markets may take place when the G20 meets in Pittsburgh to discuss its agenda. As I have written in this column before, China remains the key to the recovery trade as [...]
IMMIGRATION RULES WILL DAMAGE CITY September 1, 2009 SPEAKER’S CORNEREDWARD WANAMBWAPARTNER AT CM MURRAY LLP SINCE the UK Border Agency introduced its points-based immigration system in late 2008, employment and immigration lawyers have got used to absorbing the almost weekly changes and “fixes”. Last month, further changes were made that are likely to have a significant impact on City employers and affect City [...]
THE LONDON REPORT September 1, 2009 THE FTSE 100 shed 1.8 per cent yesterday, dragged back by weakness in banks and commodity issues, fuelling doubts over the sustainability of this summer’s strong rally. At the close, the FTSE 100 was 89.20 points lower at 4,819.70 after ending 0.8 per cent higher on Friday, when it also touched a near 11-month high. [...]
NEW YORK REPORT September 1, 2009 US stocks fell for a third straight day yesterday, spooked by uncertainty over the health of financials and concerns that the explosive rally since March may have run ahead of economic reality. September began living up to its reputation as the worst month for stocks as elevated anxiety pushed the three major indexes down 2 [...]
Sorrell adds an italicised L to alphabet soup of recoveries August 31, 2009 PREDICTING how we exit the worst recession since at least the Second World War has been a veritable past-time over recent months for economists, politicians, analysts and businessmen alike. And Sir Martin Sorrell, chief executive of the advertising giant WPP, has been the latest figure to add his letter to the alphabet soup of recoveries. [...]
MAYBE THIS IS AS GOOD AS IT WILL GET August 31, 2009 TAKING A VIEW Trading OutlookBRIAN DOLANCHIEF CURRENCY STRATEGIST, FOREX.COM AS SUMMER draws to a close, indications are increasing that the risk rebound has run its course and that markets are likely entering a more difficult phase of the global stabilisation/recovery story. On the technical side, in stocks, bearish divergences between price and momentum abound in [...]
More retailers could follow Woolies as hard times continue August 31, 2009 RETAILERS were in August their most positive since November 2007, a recent survey from the Confederation of British Industry (CBI) showed. Only 2 per cent of retailers surveyed by the CBI in August are expecting the situation to get worse, despite high street sales falling for the fourth month running. And indeed, with all the [...]
Get ready to profit from an autumnal pullback in indices August 31, 2009 OPTIMISM has been returning to the markets recently, but it would be foolhardy to believe that the worst is over. Last week, David Buik at BGC Partners pointed out that after the initial crash in 1929, the markets staged a powerful rally that retraced 60 per cent of these losses. Since the 6 March 2009 [...]
THE TIPSTER GERMAN DAX TIPPED FOR A FALLBACK August 31, 2009 GERMANY’S manufacturing sector might have been hit by the global recession but that didn’t stop Western Europe’s largest economy posting a modest expansion in the second quarter. However, analysts remain wary of calling an end to the recession and warn that there could be a pullback in the autumn. There are now signs that the [...]
TOO EARLY TO CALL THE IMPACT OF JAPAN’S ELECTION August 31, 2009 MARTIN SLANEYHEAD OF DERIVATIVES, GFT CHANGE is in the air in Japan. For more than 50 years the conservative Liberal Democratic Party enjoyed virtually unbroken rule. Unhappy with record unemployment and the problems of an ageing population, the centre-left Democratic Party. This may well herald a honeymoon period for the new government but is the [...]