STRONG YEN COULD INVITE INTERVENTION August 23, 2011 PITY the poor Japanese policymakers. As global economic growth slows, the yen continues to appreciate against all reason, hurting the export driven economy that’s already been battered by natural disaster and chronic deflation. At the end of last week dollar-yen hit a fresh record low of ¥75.95 as the trend intensified. The strength in the [...]
THE TIPSTER August 23, 2011 STERLING rose sharply against the dollar yesterday as traders sought alternative currencies amid the continued concern over US and European debt levels. Spread betters were targeting a potential test of highs of $1.6618, touched last week. However, analysts are voicing caution over a possible fall in the strength of the pound on Friday should GDP [...]
US home sales and Atlantic factory data disappoint August 23, 2011 Disappointing new economic data from the US has raised further fears over its ability to recover from recession. Manufacturing output in the central Atlantic region of the US fell again in August as orders and shipment growth slowed, figures from the regional Federal Reserve Bank of Richmond showed. The Richmond Fed’s composite index of factory [...]
Gold surges past $1,900 mark August 22, 2011 GOLD spiralled past the $1,900 mark in after-hours trading last night, setting yet another record high for the safe-haven asset. It reached a peak of $1,917.90 on the futures market before falling back slightly. Spot gold also reached the milestone, with the sputtering global economy boosting expectations for further monetary easing and raising bullion’s appeal [...]
Pathetic markets want Bernanke to save them August 22, 2011 IT was heady stuff. The price of gold smashed through the $1,900 level in after-hours trading last night, as investors worried about instability and inflation piled into the precious metal. It was not just gold: equities also rose yesterday. Libya helped, of course, but there was one much more powerful reason why stock markets gained ground: [...]
Bargain hunters return to market August 22, 2011 US stocks ended slightly higher yesterday after four weeks of losses as investors hesitated to take big risks without a catalyst for buying. The market was led by large-cap techs and industrials until late in the session when a rally faded. Banks struggled, with Bank of America, the largest US bank, falling 7.9 per cent [...]
LIBYA OFFERS SUPPORT, BUT RISKS REMAIN August 22, 2011 GLOBAL equity markets bounced yesterday offering much-needed relief for bruised investors. After last week’s dismal performance, the major indices were technically oversold. Consequently, traders took the news that hostilities in Libya could be about to end as an excuse to pile back into stocks. But despite the rally, it’s unlikely that we’ve seen the market [...]
Negative tone prevails as markets face testing week August 21, 2011 AFTER another volatile week, anyone hoping that a belated summer lull might be on the way, perhaps to lick wounds and assess trading strategies, will be disappointed for now. This morning’s opening call is for another one per cent drop on the UK stock market, tumbling back below the 5,000 level, and with alarm bells [...]
European shares in biggest fall since March 2009 August 18, 2011 European equities have suffered their biggest daily fall in two and a half years as a slew of downbeat US data cast further doubt on the strength of the recovery in the world’s biggest economy. German shares fell 5.8 per cent, underperfoming the wider market, with traders citing the effects of a short-selling ban on [...]
Republican hopefuls attack Fed August 16, 2011 GOP candidates for the presidential race lined up to attack the Federal Reserve yesterday, as the race prompted some fiery rhetoric. Right-wing Texan governor Rick Perry said it would be “treasonous” if Fed chairman Ben Bernanke announced more quantitative easing, also adding: “We would treat him pretty ugly down in Texas.” Rival Michele Bachmann was [...]