Promising lift for industry helps US jobs December 1, 2010 INDUSTRIAL growth in the US still offers hope for an economic recovery, a survey released yesterday indicated. The ISM manufacturing index, which assesses the state of US industry, came in at 56.6 for November – displaying growth slightly above the rate expected by economists. There was a large dip in the rate of production growth, [...]
Two dangers to look out for in 2011 November 30, 2010 AS readers know, I am relatively sanguine about the outlook for the global and UK economies next year. But this doesn’t mean that I’m blind to the risks facing the recovery. Two in particular worry me. The first is the possibility of a break-up of the euro. Arturo de Frias at Evolution Securities has crunched [...]
Bernanke says US needs to hire more November 30, 2010 AMERICA faces severe problems if it cannot get more people back to work, the chairman of the Federal Reserve (Fed) argued in a speech last night. Chairman Ben Bernanke warned that “social and economic consequences” make it vital for the US to reduce its level of unemployment. In October unemployment was measured at 9.6 per [...]
US JOBS DATA COULD STILL DISAPPOINT November 29, 2010 CFD MARKET STRATEGIST, GFT LAST week was a stomach-churning rollercoaster for investors and traders alike. Attention shifted away from the US and the backlash which greeted the Fed’s announcement of QE2. Instead, the focus was on tensions between North and South Korea, along with the European sovereign debt and banking crisis. These issues have the [...]
Fed forecasts US slowdown November 23, 2010 PROSPECTS of an American recovery are less bright than previously thought, according to minutes of the most recent Federal Reserve (Fed) meeting, released last night. The Fed expects unemployment for next year of around 8.9–9.1 per cent, up from its last prediction of 8.3–8.7 per cent. Furthermore, its growth forecasts for 2011 fell to 3–3.6 [...]
Jobs fears persist despite better than expected US?economic growth November 23, 2010 GROWTH in the US was higher than previously thought, it was announced yesterday. GDP growth was revised to 2.5 per cent for the three months to September, up from two per cent, said the US Federal Reserve (Fed). The rise was beyond the expectations of economists, who had predicted a slightly smaller rise. The Fed [...]
FOREX ANALYST PICKS November 23, 2010 FOREX STRATEGIST JOEL KRUGER My pick: Long sterling-New Zealand dollar at NZ$2.0500 Expertise: Technical analysis Average time frame of trades: 1 month-12 months A couple of weeks back we recommended buying this cross with the market trading at cyclical lows and looking poised for some major upside. The trade has proven to be profitable and [...]
THE VIX INDEX HINTS AT NOT ENOUGH FEAR November 22, 2010 CFD MARKET STRATEGIST, GFT VOLATILITY on the S&P 500 (as measured by the CBOE Volatility Index) has fallen by over 30 per cent since the end of August, even as equities and other financial instruments have ground higher. That was when Ben Bernanke signalled the likelihood of additional stimulus at Jackson Hole. By purchasing US [...]
THREE OTHER HEAVING CITY RESTAURANTS November 22, 2010 THE ANTHOLOGIST Nearly the same as the Folly, but “darker” as the Folly manager puts it, with a pink butterfly as its logo. It’s also smaller. But passing down Gresham Street it’s more of a mellow, tempting den than a dingy dive. A proper nightspot, with “Soul Saturdays”, a good wine list and a huge [...]
WHAT THE OTHER PAPERS SAY THIS MORNING November 22, 2010 FINANCIAL TIMES ROK WAS WARNED ON OUTLOOK Senior executives at Rok, the failed building group, were warned the company’s public statements risked misleading investors by failing to identify the extent or source of its problems. The board of directors was contacted by Ashley Martin, at the time the suspended finance director, after Rok released a [...]