The common mistakes made by new traders – and how to avoid them December 9, 2013 IN THIS final column, I outline some common pitfalls for new traders. Trading forex is not a get-rich-quick scheme: there is a steep learning curve to understanding the markets and the factors that influence exchange rates. ABSENCE OF A SOUND TRADING PLANYour overall plan should include the currencies you intend to deal in, the amount [...]
CNBC Comment: The truth behind Peacocks’ demise December 9, 2013 HAVING gone bust over a year ago, failed fashion chain Peacocks is living up to its name and preening for all it’s worth. With the help of Lawrence Tomlinson, entrepreneur-in-residence to Vince Cable, the old bird seems to be trying to pin the blame for its 2012 collapse on RBS. In fact, thanks to Tomlinson [...]
DailyFX: Analyst picks December 9, 2013 CURRENCY STRATEGIST CHRIS VECCHIO My pick: Stay long sterling-yen Expertise: Fundamental and technical analysis Average time frame of trades: A few hours to a few weeks The sterling-yen long from net ¥160.80, after upside the past few weeks, was knocked from its original entry on 5 December. The stop was held at ¥165.80 to lock [...]
Carney hopes that you’ll ignore the economic doomsayers this Christmas. Here’s why December 9, 2013 Mark Carney has hit out at those claiming that humanity has reached its limits – the proponents of "secular stagnation". They would have you believe that we'll be stuck with lower increases in living standards than the ones we've witnessed in the Great Moderation, the post-war boom, or the second industrial revolution of 1870-1913. Speaking [...]
US job creation to boom as government slashes spending December 9, 2013 The US economy is on the path to strong job growth and higher wages, according to the National Association of Business Economics (NABE) quarterly survey. Unemployment will continue to fall with 200,000 jobs being added every month. As job creation increases workers will see more rapid wage growth, from 1.8 per cent in 2013 to [...]
France and Germany struggle to power European recovery December 9, 2013 On Monday the Bank of France (BoF) revised up its estimate for fourth quarter GDP to 0.5 per cent. The BoF business confidence index also grew to 101 in November in the manufacturing sector. However, the index fell to 92 in the service sector, well below the historical average of 100. Societe Generale suggest this [...]
Highest number of electricity supplier switches since 2010 December 9, 2013 614,000 customers switched their electricity supplier last month, according to figures from Energy UK. That's more than twice the number that switched in October, and the highest number of switches since 2010. Last month saw five of the big six suppliers announce that bills would be rising. 125,000, or over 20 per cent, of those [...]
Barclays sees European oil sector bounce in 2014 December 9, 2013 The European oil sector will bounce back from its 10-year low against the FTEU300, according to Barclays. The sector has underperformed the wider European market by 25 per cent since 2012. Following five years of massive capital expenditure Barclays see a turning point for the sector both operationally and financially. The bank forecasts aggregate production [...]
The Greek government has made a bold growth prediction – this chart shows why it’s a joke December 9, 2013 After passing a budget in the early hours of Sunday morning, one of the Greek government's forecasts is already looking ropey (at best). The budget estimated 0.6 per cent growth in 2014 – but inflation data released today shows that Greek deflation is at a new record. HICP inflation has dropped by a [...]
Business leaders speak out in support of immigration December 9, 2013 Two leading figures in British business have championed the benefits of immigration to the UK economy. Former M&S boss Sir Stuart Rose speaking on the Murnaghan show on Sunday said: I'm a free market economist, we operate in a free market. If these people want to come here, and work the hours they are prepared [...]