Central Bank elixir isn’t certain – but expect volatility August 27, 2012 THIS weekend’s economic symposium at Jackson Hole has the power to monumentally shake world markets, which is what voracious traders – subdued by the summer’s low trading volumes – will want to see. With both Ben Bernanke, chairman of the Federal Reserve, and Mario Draghi, president of the European Central Bank (ECB), due to speak [...]
The glistening appeal of precious metals returns August 27, 2012 SENIOR MARKET STRATEGIST, GFT UP UNTIL last week, gold and silver – like a Parisian in August – appeared to have shut up shop for the summer. In contrast, equity markets had pushed higher in a low volume melt-up that brought the Dow and S&P 500 up to levels last seen in December 2007. Even [...]
Analyst picks for 28 August 2012 August 27, 2012 CURRENCY STRATEGIST CHRIS VECCHIO My pick: Short Aussie-dollar Expertise: Fundamental and technical analysis Average time frame of trades: A few hours to a few days Despite the rally that came after minutes of the Federal Reserve’s latest meeting were released, the Aussie-dollar has broken down to fresh lows for the month of August. Given this [...]
Fed Bank sells last AIG assets August 23, 2012 The Federal Reserve Bank of New York has sold its remaining assets of insurer American International Group (AIG), the bank said yesterday. It sold securities for a gain of $6.6bn (£4.2bn).
FTSE buoyed by hopes of global stimulus August 23, 2012 BRITAIN’S top share index inched higher yesterday, steadying after sharp falls in the previous session, underpinned by a recovery among heavyweight miners on expectations of fresh global stimulus measures from central banks. Mining stocks tracked firmer copper prices, which were up over 1 per cent at a one-month high as the demand picture for metals [...]
Fed looks set to ease fairly soon barring swift rebound August 23, 2012 The Federal Reserve is likely to deliver another round of monetary stimulus “fairly soon” unless the economy improves considerably, minutes from the US central bank’s latest meeting suggested. While the 31 July-1 August meeting occurred before some encouraging economic data, including a stronger-than-expected rise in July payrolls, policymakers were pretty categorical about their dissatisfaction with [...]
Fed considers new stimulus August 22, 2012 THE US Federal Reserve is likely to deliver another round of monetary stimulus “fairly soon” unless the economy improves considerably, according to minutes of its most recent meeting released yesterday. “Many members judged that additional monetary accommodation would likely be warranted fairly soon unless incoming information pointed to a substantial and sustainable strengthening in the [...]
McDermott maddened by offside goal as unlucky Royals suffer at hands of Chelsea August 22, 2012 CHELSEA 4 vs READING 2 CHELSEA manager Roberto Di Matteo brushed off a row over an offside Fernando Torres goal as his side came from behind to edge a wildly entertaining ding-dong with Premier League newcomers Reading. Goals from Pavel Pogrebnyak and Danny Guthrie stunned the European champions, after Frank Lampard’s penalty had put Chelsea [...]
Lacklustre data and fears over Greece hurt US August 22, 2012 THE S&P 500 erased earlier losses to close flat yesterday after minutes from the latest Federal Reserve meeting indicated the central bank might be ready for another round of stimulus. Minutes from the 31 July to 1 August meeting suggested the Fed is likely to deliver another round of monetary stimulus “fairly soon” unless the [...]
What the other papers say this morning August 21, 2012 FINANCIAL TIMES Generali set to exit US reinsurance Generali has become the latest European insurer to plan an exit from the US after Italy’s largest insurer by annual premiums put its US life reinsurance business up for sale, according to a person familiar with the matter. Citigroup is advising the company on a sale of [...]