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 [...]
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 [...]