Speculators may be the only party to gain from yen sales March 22, 2011 SINCE the events that struck Japan last week, the G7 grouping of countries, of which Japan is a part, has come to its aid by selling reserves of the yen. But was outside help unavoidable in order to push down the yen? The G7 has made a sizeable bet that it was. Estimates are that [...]
RESILIENCE OF THE EURO MAY NOT CONTINUE March 22, 2011 DIRECTOR OF CURRENCY RESEARCH, GFT IF THERE was ever a contest for the most resilient currency in the FX market, the euro would be the unquestionable winner at this time. Over the past several weeks, global markets have experienced a series of extreme geopolitical shocks – each one strong enough to make even the most [...]
THE TIPSTER March 22, 2011 WITH market attention fixed on the 24/25 March EU summit and an easing of market conditions in Japan, there is a strong chance of volatile price action on euro-yen. Finland’s unwillingness to double its loan guarantees was a mild surprise and could derail the ongoing up-trends in several euro pairs. The yen’s strength has been [...]
FOREX ANALYST PICKS March 22, 2011 FOREX STRATEGIST JOHN KICKLIGHTER My pick: Short Aussie dollar-Canadian dollar (Ca$0.9700); long euro-yen Expertise: Fundamental and Technical Analysis with Risk Management Average time frame of trades: 1 day to 1 week The fallout from the worst Japanese earthquake in history certainly had its impact on risk trends through volatility, but follow through on positioning rebalancing [...]
Three hawks doesn’t make a rate change March 22, 2011 STERLING broke through $1.63 yesterday on the back of CPI inflation coming in higher than expected. Investors are anticipating that the Bank of England will have to raise interest rates sooner than previously expected. However, despite the Bank of England’s obligation to target 2 per cent, and the growing chorus of experts judging that they [...]
HOW TO KEEP YOUR TRADES IN HARMONY March 22, 2011 CONSULTING ANALYST, INTERTRADER THE definition of harmony is a pleasing combination of elements in a whole. My mentor Bryce Gilmore taught me harmony in the markets. There was no course book, and no papers to read. It was night after night going over the day’s charts, pointing out the harmony in the day’s price action. [...]
The beefed up new Merc SLK March 22, 2011 Despite selling well, the Mercedes-Benz SLK has been seen as a bit fluffy, a lesser animal when compared to some of its roadster rivals. This hasn’t been helped by the fact that most buyers of the car have been female, something that has switched some less- evolved men off. Now Mercedes-Benz is making a considered [...]
Arabian unrest hits fever pitch March 21, 2011 VIOLENT anti-government protests in several Middle Eastern countries accompanied a third day of air strikes in Libya yesterday, as the ten-country military coalition squabbled over the next move. As Gaddafi’s compound in Tripoli was damaged by the strikes yesterday, David Cameron told Parliament enforcing a no-fly zone had come “just in the nick of time” [...]
SFO denies Tchenguiz case is stunt March 21, 2011 THE Serious Fraud Office (SFO) hit back at claims that its raid on Robert and Vincent Tchenguiz was a “publicity stunt” designed to bolster the reputation of the threatened body. A spokesman for SFO director Richard Alderman said: “There is some suggestion that we have taken this action to put ourselves in a better position [...]
Inflation means bigger Budget cuts March 21, 2011 IT’S Budget time again. Tomorrow is George Osborne’s big day; he will be tasked with reinvigorating the coalition’s flagging support without giving up on austerity. There will be plenty of new policies, most of which have been heavily discussed already. But here are a few thoughts that you won’t have read elsewhere. Total public spending [...]
