WHAT THE OTHER PAPERS SAY THIS MORNING November 16, 2010 FINANCIAL TIMES ABU DHABI MOVES TO SECURE FOOD SUPPLY Abu Dhabi is to make a bold foray into commodities with the establishment of a government-owned trading house aimed at securing food supplies for the import-dependent nation and capturing profit margins in metals and agriculture trading. People familiar with the plans say the company, which is [...]
US wholesale prices fall as output falters November 16, 2010 CORE US producer prices recorded their largest fall in more than four years in October and industrial output was flat, underscoring concerns at the Federal Reserve about low inflation amid moderate economic growth. Economists said the data supported the US central bank’s 3 November decision to ease monetary policy further even if the 0.6 per [...]
The market only cares about American yields November 16, 2010 THE currency market just doesn’t care about Japan at the moment. It didn’t even flinch when Monday’s third quarter GDP figures showed that its economy is expanding at a whopping annualised pace of 3.9 per cent. It just wasn’t interested in the fact that the manufacturing sector was boosted by the mass purchasing of air [...]
Profiting from currencies is a difficult game November 16, 2010 IN 2004, Alan Greenspan denied that it was possible to make money by predicting what is going to happen to currencies. As he put it: “My experience is that exchange markets have become so efficient that virtually all relevant information is embedded almost instantaneously in exchange rates to the point that anticipating movements in major [...]
FOREX ANALYST PICKS November 16, 2010 FOREX STRATEGIST JOEL KRUGER My pick: Buy US dollar/Canadian dollar at Ca$1.0090 Expertise: Technical analysis Average time frame of trades: 1 month-3 months Setbacks have been well supported by parity, and the market finally looks like it could be in the process of carving out yet another base. A break and close back above Ca$1.0100 [...]
Wall St edges lower as Fed worries offset M&A November 15, 2010 US stocks slipped on Monday as concerns the Federal Reserve may scale back its efforts to stimulate the economy muted optimism over two big takeover bids. The energy and materials sectors, which are sensitive to commodity prices and weaken when the dollar rises, led the way down as the Treasury bond market selloff picked up [...]
Some Eurozone stocks have suffered too much November 15, 2010 GIVEN the turmoil in the Eurozone’s financial markets, it would be tempting for the contracts for difference (CFD) trader to avoid the region. After all, there are surely plenty of other markets that appear to offer greater stability and better prospects. And it has been easy to focus on events elsewhere. Whether it was concern [...]
FAITH IN QE2 LIMITS FALLS IN EQUITIES November 15, 2010 CFD MARKET STRATEGIST, GFT RECENTLY, investors have got used to their expectations being met. Republican victories in the mid-terms led investors to expect a more business-friendly environment. The Fed’s latest QE announcement was in line with estimates, while a thumping gain in non-farm payrolls has raised hopes that unemployment may have turned a corner. With [...]
ECB should offer more liquidity and buy debt November 14, 2010 HURRAH! All the tricky issues are out of the way. A second round of quantitative easing from the US Federal Reserve – done. The US jobless numbers – done. President Barack Obama’s mid term elections – done. And so what does all this mean for the markets? All together now… it is time to start [...]
Storm clouds gather as G20 leaders meet November 11, 2010 Group of Twenty in Seoul clash on growth, currencies and trade Ireland moves ever closer to the brink as bailout fears mount Oil price hits a fresh 25-month high of $88 a barrel on China demand IRISH ten-year bond yields shot to their highest level since the founding of the euro yesterday, closing at 8.6 [...]