How to be sure that a breakout is for real December 1, 2009 FOR the past two months, currency traders have been wondering whether euro-dollar will manage to break through the $1.50 level. The pair has made several tests of this psychological resistance level but has so far been unable to consolidate any gains made. Jumping on board a breakout can be a highly successful strategy, but all [...]
STERLING AT THREAT FROM A SELL OFF December 1, 2009 BORIS SCHLOSSBERGDIRECTOR OF CURRENCY RESEARCH, GFT LAST week, economic data throughout the G10 was generally positive and supported the risk rally that saw most of the high beta currencies reach yearly highs against the dollar. But just as US traders prepared to sit down to a Thanksgiving meal, the unexpected news from Dubai quickly unwound [...]
CITY VIEWS: AS GOLD HITS $1,200 AN OUNCE, WHY ARE INVESTORS STILL PUTTING THEIR MONEY IN THE COMMODITY? December 1, 2009 PETER J CALLOW RISK MANAGEMENT“Gold is a solid commodity, and there is so little confidence in the market that it’s little surprise investors are flocking to invest in it. Analysts were saying two years ago that gold would soar, and hearing what it’s worth today I’m now regretting not investing back then.” PETER THOMPSON PWC“Gold [...]
JD Sports Fashion says its trading has improved December 1, 2009 Sportswear and fashion retailer JD Sports Fashion said yesterday its trading has improved over the last 11 weeks and it is confident of its prospects for the rest of the year. The firm last updated the market on 12 September when it reported like-for-like sales up 0.5 per cent for its sports-based stores and up [...]
Carmaker Geely seeks $1bn loans to buy Volvo December 1, 2009 Geely, the Chinese carmaker picked as the preferred bidder for Ford Motor’s Volvo unit, is seeking at least $1bn (£602m) in loans from Chinese banks to finance its $1.8bn bid, sources said yesterday. Geely, which means “lucky” in Chinese, is hungry for modern and innovative technologies from the Swedish brand to upgrade its car line [...]
Starbucks names new international president December 1, 2009 Retail coffee chain Starbucks said yesterday that Martin Coles, the president of its international operations, is resigning just three months after taking up the post and that John Culver will succeed him. Coles is resigning to pursue new opportunities, Starbucks said. Culver, who has been with Starbucks for seven years, will now oversee operations and [...]
Shares rally as doubts over Middle East start to subside December 1, 2009 BRITAIN’S top shares ended 2.3 per cent higher yesterday and posted their biggest daily gain in 4-1/2 months, with banks and commodity shares rising as worries over Dubai’s debt problems faded. The FTSE 100 closed up 121.49 points at 5,312.17, its best one-day percentage gain since July 15. On Monday, the index fell 1.1 per [...]
Dow posts gains on recovery hopes December 1, 2009 THE Dow Jones industrial average climbed to its highest close in 14 months on yesterday as a weak dollar boosted natural resource companies’ shares and economic data reinforced hopes for a sustainable recovery. Sentiment also got a lift as concerns receded about the impact of Dubai’s debt trouble after news that Dubai World planned to [...]
Your attitude to risk key to 2010 trading December 1, 2009 IT WAS no surprise that the Dubai debt scare saw investors running back to safe-havens such as the US dollar, Japanese yen and the Swiss franc. Risk appetite is one of the biggest drivers of the foreign exchange markets. The story of recent months in forex markets has been one of increasing investor confidence, which [...]
FOREX FLASH December 1, 2009 Australia raises cost of borrowingAUSTRALIA’S central bank yesterday hiked interest rates by 25 basis points to 3.75 per cent, citing strong employment growth, improving business confidence, and solid export demand from Asia. This was a third month in a row that the Reserve Bank of Australia (RBA) has chosen to raise rates. The central bank [...]
