Are things getting uglier for gold? December 17, 2013 It's a tough time for gold prices at the moment. The $15 per ounce rise seen yesterday has been wiped out UK and Asian trading today, as the US dollar climbed and stock markets stayed cautious, in anticipation of tapering action from the Fed tomorrow. HSBC have said in a note: "The bullion market is [...]
Markets are hooked on one big event December 17, 2013 Markets are still fixated on one big event – The Federal Reserve announcement at 7.00pm tomorrow. The Federal Open Market Committee (FOMC) may decide to start slowing the pace of its asset purchases, as the US economy recovers and the Fed doesn't deem QE as necessary. Investors expect the withdrawal of that support to make [...]
US records productivity boost ahead of crucial Fed meeting December 16, 2013 US BUSINESS productivity increased at the fastest pace in four years during the third quarter, according to official figures released ahead of the Federal Reserve’s monthly policy meeting. A Bureau of Labor Statistics release showed that productivity rose three per cent in three months to September, the best result since the fourth quarter of 2009. [...]
New York Report: US stocks gain after big deals December 16, 2013 US STOCKS gained yesterday, rebounding from their worst week in months as large deals boosted optimism but investors remained cautious ahead of an upcoming Federal Reserve policy meeting. Equities are coming off their biggest weekly decline in nearly four months, a pullback that came on concerns the Fed may begin to wind down the bond-buying [...]
Letters to the Editor – 17/12 – Scrap Davies, Alternative finance, Best of Twitter December 16, 2013 Scrap Davies If you believe that the importance of hub capacity is overstated there is clearly no need to expand Heathrow. If you believe, as I do, that London and the UK needs an internationally-competitive hub airport, we should be clear what that means. It means an airport with four runways and the capacity to [...]
DailyFX: Analyst picks December 16, 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 I remain long on sterling-yen from ¥167.05, despite the brief pullback from yearly highs just above ¥170.00. As long as momentum remains bullish, sterling-yen remains a buy on dips. [...]
Here’s why 2014 could be a great year for the US December 16, 2013 The US economy is transitioning to faster growth and higher interest rates, according to a research note by Deutsche Bank. Joseph LaVorgna, Chief US Economist said: We expect monetary policymakers to soon transition to a slower pace of monetary accommodation. This implies that over the next year, long-term interest rates are poised to rise significantly [...]
All this analyst wants for Christmas is Fed tapering. Here’s why December 16, 2013 Most would put the uncertainty of a Fed tapering announcement near their top of big 2013 unknowns – and some strong data from the US has convinced some Fed watchers that they may start to remove monetary support. But the discussions over when the Federal Open Market Committee (FOMC) will actually get round to tapering [...]
Wall St Week Ahead: Vote by Federal Reserve key to festive stocks December 15, 2013 THE Federal Reserve holds the wild card for the US stock market this week with a decision on whether or not to slow the pace of its stimulative bond buying. Federal Reserve policymakers gather for the last time in 2013 for a two-day meeting that concludes on Wednesday. Many investors are still expecting the Fed [...]
What you need to know before the open – 13/12 December 13, 2013 Concerns over Fed action next week rumble on, with US stocks hitting a for-week low yesterday and things look little brighter for European bourses this morning. No respite for investors at European opening – So little joy, as fear of the unknown (QE) undermines confidence – FTSE -9, DAX -8, CAC -2 — David [...]