Pound seeks shelter from troubles May 29, 2012 KATHLEEN BROOKS FOREX.COM Is sterling still the wallflower of FX? It certainly was for most of last year when it was essentially moving hand in hand with euro-dollar was doing. However, the Bank of England (BoE) has been much more important for sterling’s fortunes in recent weeks, and it was moves by the Bank that [...]
THE TIPSTER | Loonie flies on risk May 29, 2012 WIDESPREAD risk aversion during May meant that dollar-Canadian dollar surged higher, as traders bought the US dollar as a means of obtaining a degree of safety against the ructions in the Eurozone. Eurozone concerns had resulted in a wave of buying that lifted the US dollar, and saw the Canadian dollar slump in a similar [...]
Atkins showcases British design talent in support of London 2012 May 29, 2012 COUNTDOWN TO THE LONDON 2012 OLYMPIC GAMES 58 DAYS TO GO Atkins UK’s boss explains why it’s the Games’s engineering design consultant Q What was your brand’s primary reason for being involved with the Games? A It’s a superb platform for the company, our staff, our supply chain and the other companies and customers we [...]
Swiss National Bank fights the tide of safe haven inflows May 29, 2012 SINCE the Swiss National Bank (SNB) intervened in the euro-Swiss franc exchange rate in September last year, there have been few thrills to be had taking a position on the pair. But as the cracks in the Eurozone increase in size, the pressure on the pair has ramped up volatility and interest from traders. The [...]
FTSE rising but investors wary May 28, 2012 BRITAIN’S main equity index ended little changed after giving away most of its gains in late trade yesterday, in a sign investors lacked the confidence to sustain a recent rally in the absence of greater visibility on the Eurozone crisis. The FTSE 100 closed up 4.81 points, or 0.1 per cent, at 5,356.34 points, having [...]
Spanish woes weigh markets May 28, 2012 EUROPEAN shares ended in negative territory yesterday, reversing earlier gains in thin trade as concerns surrounding Spain’s banks returned to the forefront of investors’ minds. The FTSEurofirst 300 closed down 0.1 per cent at 984.01, having earlier reached a high of 993.21 – boosted by opinion polls suggesting Greece’s pro-bailout parties may be able to [...]
Active Trader speakers give their picks of the Morning Wire conference May 28, 2012 MORE than 700 people turned up last week to the inaugural Morning Wire Active Trader event at the Grange Tower Bridge Hotel to listen to our assembled panels of experts give their wisdom on everything from bearish engulfing candlestick patterns to using twitter for trading. We asked some of the Active Trader panelists for their [...]
GOLD WILL CONTINUE TO BE DRIVEN BY UNCERTAINTY May 28, 2012 EVEN as euro-dollar traded around its lowest level in 22 months, global stock indices managed to stage a small rally last week. Although it is wise not to read too much into this divergence, it marks a break from the positive correlation between the single currency and stocks to which we have grown accustomed. One [...]
How to lose money when trading May 28, 2012 DAVID Rodriguez, quantitative strategist for FXCM, spoke on the masters of forex panel at the Morning Wire Active Trader event last week. He pulled up the two charts to the right, which give a telling snapshot of the mentality of many traders, as well as what he cites as being the number one mistake made [...]
Analyst picks for 28 May 2012 May 28, 2012 QUANTITATIVE STRATEGIST DAVID RODRIGUEZ My pick: Sell euro-dollar rallies Expertise: System trading Average time frame of trades: 2 to 10 weeks I remain in “sell rally” mode on euro-dollar, and I would like to sell any significant bounce in the otherwise fast-falling currency pair. Recent CFTC Commitment of Traders data shows large speculators at their [...]