In the long run the Aussie is a wager against entrepreneurs May 3, 2011 ON 2 May, the Australian dollar climbed to a high of $1.1011, not reached since its 1983 float. Despite a small retreat, this upward trend is largely expected to resume on the back of continued demand for commodities and a hawkish Reserve Bank of Australia (RBA). Yet over the long-term, trouble in China and technological [...]
DOLLAR’S FATE IN THE HANDS OF MR TRICHET May 3, 2011 AT THE start of this week’s trade in the currency market, the much beleaguered dollar received an unexpected lift when President Obama announced that a top notch team of Navy Seals was able to find and kill Osama bin Laden. However by the North American open, most of the patriotic sentiment had faded and the [...]
THE TIPSTER May 3, 2011 THURSDAY’S Bank of England meeting is likely to see the Monetary Policy Committee leave interest rates unchanged, especially in light of yesterday’s April Manufacturing PMI data, which came in below expectations. This has reinforced concerns about the growth potential for the second quarter. This will in turn limit the upside in any sterling strength, especially [...]
Protests, earthquakes, wars and bailouts. But no love for the dollar May 3, 2011 THROUGHOUT 2011, we have had sustained periods of uncertainty in the money markets. In the past, uncertainty and turmoil have given rise to rallies for the greenback as a result of investor flight into the safety and liquidity of this safe haven currency. Continued turmoil in the Middle East, concerns over the ongoing European sovereign [...]
A Conservative win is good for Canada’s dollar May 3, 2011 THE Canadian dollar climbed yesterday as Canada’s Conservative party won an outright majority in the general election. Since 2006, Prime Minister Stephen Harper has led two minority Conservative governments, but yesterday’s victory brings him a majority mandate. Michael Gregory, senior economist for the Bank of Montreal, is buoyant about the result: “This is certainly a [...]
FOREX ANALYST PICKS May 3, 2011 FOREX STRATEGIST JOHN KICKLIGHTER My pick: Long euro-sterling, short euro-Canadian dollar Expertise: Fundamental and Technical Analysis with Risk Management Average time frame of trades: 1 day to 1 week My long dollar-yen position from ¥82.50 tripped its stop with a close below ¥80 with the dollar’s pervasive sell off. In the meantime, with the forthcoming [...]
When Volvo flirts with sexy May 3, 2011 BIG, boxy, boring was the image of past Volvos, particularly Volvo estates. Known for protecting passengers above all else, they were solid and reliable and were a safe, if unexciting, option for car buyers. But thanks to a fundamental rethink about how Volvo’s look and drive, Volvo cars have been evolving from a simple, practical [...]
CAR TALK May 3, 2011 SPECIAL EDITION CATERHAM SEVENS British sportscar company Caterham Cars has been bought by Formula One outfit Team Lotus and to celebrate, the company is building a limited run of just 50 Team Lotus Special Edition Sevens. For an additional £3,000, Seven buyers can buy a car painted in the famous green and yellow colours of [...]
Justice is done May 3, 2011 ■ US SPECIAL FORCES KILL OSAMA BIN LADEN IN SURPRISE RAID ON PAKISTAN COMPOUND ■ Fears grow of revenge attack by Islamic extremists ■ Barack Obama watched raid live from White House ■ Shock as tyrant found hours from Pakistan capital OSAMA bin Laden, the world’s most wanted man, died from a gunshot to the [...]
US stocks ease on fear over revenge attacks May 3, 2011 THE danger of reprisal attacks from Al-Qaeda and further global instability saw stocks take a hit yesterday, after initially soaring on the back of news of Osama bin Laden’s death. The Dow Jones industrial average jumped by almost half a percentage point to touch 12,873 at the open. However, the Dow then sank below its [...]
