Bleak outlook means that the yen is going to rise and rise August 18, 2009 JAPAN’S return to growth for the first time since the first quarter of 2008 ought to have been cause for celebration in the markets. Hot on France and Germany’s heels, Japan grew 0.9 per cent in the three months to June on the previous quarter, putting the annual rate at 3.7 per cent. But even [...]
AUSTRALIA WILL NOT RAISE RATES August 18, 2009 BORIS SCHLOSSBERGDIRECTOR OF CURRENCY RESEARCH, GFT OVER the past several months, the Australian dollar has been the most appealing currency for the recovery trade. Unlike its G20 counterparts, the Australian economy barely felt the blows of the global recession, registering only one negative quarter of growth before rebounding in the second quarter to record a [...]
Goldman Sachs backs banks and helps to lift the markets August 18, 2009 THE FTSE 100 closed 0.9 per cent higher yesterday, led by gains in banks and miners which recovered from losses in the previous session, while data showed inflation held steady in July. The large-cap index closed 40.77 points higher at 4,685.78, recovering from a 1.4 per cent drop on Monday, its biggest one-day percentage loss [...]
Wall St boosted by upbeat retail giants August 18, 2009 US stocks rose yesterday, rebounding after sharp losses in the previous session, as better-than-expected results from big retailers encouraged investors to get back into the market. Results at consumer giants Home Depot, Target and department store operator Saks were helped by cost-cutting as revenue growth remained slack. The trend has dominated earnings season, but investors [...]
Take a punt on the weather with grains and orange juice August 17, 2009 THE summer months might be a quiet time for most traders, but not all. For those who make their money watching the prices of assets such as wheat, corn and orange juice, this is when the market is at its peak. In many cases, the outlook for the harvest is becoming clearer, and industry analysts [...]
OUTLOOK FOR STERLING IS UNCERTAIN August 17, 2009 MARK OUTTENSENIOR DEALER, GFT THIS summer has promised many great comebacks. Tom Watson only narrowly failed to secure a sixth Open title at the age of 59, Lance Armstrong’s attempt at an implausible eighth Tour de France victory disappeared in the mountains and Michael Schumacher’s eagerly anticipated return to Formula One was thwarted. So what [...]
TRADING TIP HURRICANE HEDGES August 17, 2009 One of the biggest hazards to farmers in the United States is hurricanes. Because the early autumn is historically the the season for the worst ones., they and can be devastating for both farmers – and for those holding trading positions in the crops. The lack of adequate insurance against such extreme weather events led [...]
Fears over pace of economic recovery see FTSE stumble August 17, 2009 THE FTSE 100 fell 1.5 per cent by the close yesterday with mining, oil and banking stocks leading the losers, as global markets retracted amid concerns over the pace of global recovery. The index closed 68.96 points lower at 4,645.01, extending losses from Friday when it shed 0.9 per cent and marking its biggest one [...]
Poor Japanese data hits US stocks August 17, 2009 US stocks suffered their worst loss in seven weeks yesterday as weak data from Japan and a disappointing outlook from retailer Lowe’s dampened hopes about the economy’s growth. Japan’s gross domestic product showed its economy pulled out of recession in the second quarter, but at a slower pace than expected, prompting a sell-off in major [...]
Freddie’s final fling looks worth a punt August 16, 2009 SAD to say, anybody who put money on the number of points that Michael Schumacher would make in his glorious return to Formula One for Ferrari will have wasted their money, following the news that the old champ’s neck is not up to the rigours of motor-racing. Thankfully, though, there are still spread bets to [...]