FTSE lifted more than one per cent on the back of strong corporate earnings November 2, 2010 STRONG corporate earnings hoisted Britain’s top shares by more than one per cent on yesterday, led by energy stocks after BP and BG Group results and ahead of the outcome of the eagerly awaited US Federal Reserve policy meeting. At the two-day meet in Washington which started yesterday, the Fed will consider the prospect of [...]
US stocks up as elections and a Fed decision loom November 2, 2010 US stocks rose yesterday on the expectation the midterm election and a Federal Reserve decision would create a more business-friendly environment, though many traders forecast a selloff in the days ahead. The S&P 500 index has risen almost 14 per cent since September on speculation of Republican congressional gains and measures by the Federal Reserve [...]
QE2 MAY GIVE US DOLLAR A RELIEF RALLY November 2, 2010 DIRECTOR OF CURRENCY RESEARCH, GFT AS THE currency world turns its attention to today’s FOMC statement, which is expected to reveal the terms of its QE2 programme, it may be useful to ask why do US monetary officials insist on quantitative easing in the first place? After all, most economists agree that this round of [...]
Australia looks fantastic. Time to get out then November 2, 2010 IN AUSTRALIA, it is summer in more ways than one. The Fed might be gearing up the printing presses again for winter, but down under the economy is actually booming. In a move unseen anywhere else in the developed world, the Reserve Bank of Australia (RBA) decided on Monday night to increase interest rates by [...]
THE TIPSTER November 2, 2010 UK CONSTRUCTION data came in weaker than expected on Tuesday and the recent sterling-euro strength was reversed. Considering that the bulk of the GDP number was heavily dependent on construction figures, analysts fear that the next release of GDP data may come in weaker. If this is the case sterling-euro could face further weakness. Capital [...]
FOREX ANALYST PICKS November 2, 2010 FOREX STRATEGIST JOEL KRUGER My pick: Buy dollar-yen at ¥79.50 Expertise: Classic technical analysis Average time frame of trades: 1 month-12 months This market has been under intense pressure for several months, with the price dropping to fresh multi-year lows and now quickly closing in on a retest of the 1995 record lows by ¥79.75. [...]
Recession… what recession? November 1, 2010 Buoyant manufacturing figures from the UK, the US and China boost hopes for global recovery Factories continued to fire back to life last month, with manufacturing in the UK, the US and China rebounding more strongly than economists had expected. In the UK, the manufacturing sector kicked off the fourth quarter on a high note, [...]
Private sector recovery still on track November 1, 2010 WHAT a day for the global economy. In Britain, China and America, manufacturing surveys surged ahead, in every case beating consensus estimates and suggesting strong private sector growth over the next few months. Yesterday’s jump in the global purchasing managers indices were undoubtedly the most bullish indicator I have seen in a long time. The [...]
FED DECISION DOES NOT END UNCERTAINTY November 1, 2010 CFD MARKET STRATEGIST, GFT THE two-day US Federal Open Market Committee (FOMC) meeting ends tomorrow. This should end months of speculation over the size and scope of additional monetary stimulus. Last week, the Federal Reserve sent out a number of conflicting signals concerning its next move. Rather than narrowing the range of possible outcomes, the [...]
Commodities and banks lift FTSE but gains are tempered by Fed QE decision November 1, 2010 Miners led Britain’s top shares higher yesterday, boosted by strong data from China, but gains were tempered as investors looked ahead to the outcome of the US Federal Reserve’s meeting tomorrow. Miners rose after data showing demand in China, the world’s biggest consumer of metals, was holding up. The world’s biggest integrated zinc producer Xstrata [...]