GLOOMY JUNE DATA NOT ALL DUE TO JAPAN June 6, 2011 WELL, that was a poor start to the new month. Last week saw the release of a stack of economic numbers from around the globe, the majority of which were significantly weaker than expected. The US data were particularly disappointing as the Chicago PMI, consumer confidence, S&P/Case Shiller house price index, vehicle sales, ADP employment, [...]
Weak US jobs data sparks talk of easing June 3, 2011 UK STOCKS crashed within minutes of receiving shock US employment figures showing a bigger-than-expected slowdown in job creation yesterday. The FTSE 100 fell more than 50 points to 5,820 shortly after 13:30 yesterday before recovering later as the government’s non-farm payroll data showed private sector payrolls grew just a quarter as much as anticipated in [...]
WHISKY AT MIDDAY FOR ABERDEEN’S POLAR FEAT June 2, 2011 THE WHISKY came out at noon at Aberdeen Asset Management yesterday to christen the boat the fund managers are sponsoring on its voyage into the Arctic unknown. The Old Pulteney has been designed to withstand some of the harshest conditions on earth, and her six-man crew – led by Scottish explorer Jock Wishart – will [...]
Why risk assets need another shot in the arm May 30, 2011 Equity markets have been caught in a gloomy place for much of May. Despite some gung-ho risk-on days, the overall trend for risk assets has been lower. Sean Corrigan from Diapason Commodities Management still thinks we might not be through the worst of the energy sell-off. But he says risk assets are looking for another [...]
Five key barometers that every trader of CFDs should monitor May 30, 2011 WHATEVER you plan to trade, David Morrison, CFD market strategist for GFT, suggests these five indicators to help gauge market conditions. 1. DOLLAR INDEX Since 1973, this index has tracked the strength of the dollar against a basket of other major currencies, including sterling, yen and the Swiss franc. Benchmarked initially at 100, it has [...]
Fed balance sheet hits new high May 26, 2011 The US Federal Reserve’s balance sheet soared to a new record of almost $2.8 trillion (£1.7 trillion) in the past week as it pushed ahead with its QE2 bond-buying programme, its data showed yesterday. The balance sheet data, a sign of the level of its lending to the financial system, was up from $2.74 trillion [...]
Manufacturing dip affects US shares May 24, 2011 US stocks dipped in light volume yesterday as lingering concerns about a slowdown in growth more than offset gains in energy shares. Investors kept trimming large-cap technology positions, pushing the tech-heavy Nasdaq Composite lower. The S&P energy sector index rose 1.3 per cent, while its industrials index slipped 0.6 per cent, sending the market down [...]
FTSE rebounds but Wall St fall goes on May 24, 2011 UK stocks rebounded today as miners regained ground after grim falls yesterday, though final gains were small. The FTSE 100 ended the session 0.4 per cent higher at 5,858.41 but recorded a high of 5,884.66 in the day’s trading as investor confidence returned. Bargain hunters moved in on miners, which recovered along with metals prices [...]
Chicago figures hit US outlook May 23, 2011 American stock futures were hit yesterday after an official gauge of economic activity surprisingly dipped. The Chicago Fed national activity index for April fell to a negative reading of 0.45, from a positive reading of 0.32 in March. This was the lowest reading since last August and reversed three straight months of gains. Negative figures [...]
DEJA VU ALL OVER AGAIN AS QE2 ENDS May 23, 2011 A LITTLE over a year ago, Greece was in the headlines as the parlous state of its public finances became apparent. At the same time, the US Federal Reserve was planning an exit strategy from its first round of quantitative easing (QE), and there was a major volcanic eruption in Iceland. As the speculation grew [...]