SWISSIE WILL STAY STRONG DESPITE SNB July 14, 2009 BORIS SCHLOSSBERGDIRECTOR OF CURRENCY RESEARCH, GFT INTERVENTION is always a subject of controversy and conversation in the currency market. Typically, traders focus on the Bank of Japan (BoJ), which at one time spent nearly $250bn trying to drive down the value of the yen. However, while the BoJ receives the lion’s share of attention, the [...]
It’s more vital than ever to reassess risk July 14, 2009 RISK appetite is one of those phrases that traders tend to bandy about. In these uncertain times, the words are in the news more than ever. A cursory glance over the research notes, market commentaries and news reports of the past few weeks would have you confused. One day a research note claims that risk [...]
Miners, banks and oil groups emerge as stars of the index July 14, 2009 LONDON’S top share index closed up 0.9 per cent yesterday, led by miners, banks and oil producers as impressive corporate data from the United States outweighed mixed economic figures. The FTSE ended 35.55 points higher at 4,237.68, extending Monday’s 1.8 per cent gains. The index has risen more than 23 per cent since hitting a [...]
Bullish comments boost US markets July 13, 2009 US stocks rallied more than 2 per cent yesterday as bullish comments on financial sector performance from analyst Meredith Whitney lifted hopes that banks’ quarterly results may be stronger than expected. Light volumes made it easier for stocks to post such a big move, analysts said. The Dow industrials and S&P 500 had their best [...]
SENTIMENT TAKES A NOSEDIVE, DAMPENS RECOVERY PROSPECT July 13, 2009 MARTIN SLANEYHEAD OF DERIVATIVES, GFTCONSUMER confidence is fundamental to market mood, and even more so when the prospect of economic recovery has been touted but not yet assured. Confidence is the building block of spending, which is critical to recovery. And right now confidence is taking a big dip. The bimonthly Reuters/University of Michigan preliminary [...]
Japan offers the contrarian trader a wealth of opportunity July 13, 2009 GIVEN how badly export-oriented Japan has suffered from the financial crisis and the subsequent drop off in global demand, you might think that investing in Japanese equities would be one of the least successful trading strategies around right now. But in fact, a number of analysts have started turning bullish on the Japanese stock index [...]
Commodities and financials emerge as stars of the index July 13, 2009 THE FTSE 100 closed 1.8 per cent higher yesterday, boosted by stronger energy and mining stocks, while financial shares also provided support to the market which had fallen in five of last eight sessions. The index ended 74.96 points higher at 4,202.13, after falling 0.8 per cent on Friday to its lowest close since 28 [...]
It’s time to start re-thinking your attitude to trading the oil market July 12, 2009 WHAT a difference a year makes. With crude oil sinking below $60 a barrel on Friday for the first time since mid-May, it seems incredible that it was only 12 months ago that oil hit a record high of $147 a barrel, fuelling speculation among industry players that it could reach $250. Oil prices had [...]
THE TIPSTER NEW SHARES PLACING LIFTS SAINSBURY’S July 12, 2009 SUPERMARKET chain Sainsbury’s had been doing well in the first months of 2009 despite consumers tightening their belts, and its share price reached a high of 347.25p in the middle of May. But its share price then slipped to around 309p and the stock has been trading broadly sideways since then. However, the announcement of [...]
US hard hitters to lead the markets July 12, 2009 This has all the makings of a highly volatile week for the markets, as second-quarter earnings numbers from the US really get into their stride. With the losing stretch for many stocks now reaching four straight weeks, these blue chip updates could prove pivotal in shaping market direction. The highlights to watch out for are [...]