FUNDS IN THE BUDGET March 23, 2011 BAD NEWS FOR OIL PRODUCERS Those who have exposure to North Sea oil and gas producers in their investment portfolios will be hit by one of the many new taxes introduced in yesterday’s budget. Dubbed the “fair fuel stabiliser”, it increased the taxes being levied on these companies from 20 per cent to 32 per [...]
FTSE 100 breaks its winning streak as risk appetite wanes March 22, 2011 BRITAIN’S top share index fell yesterday, snapping a three-session rally, as further airstrikes against Libya and disruption caused by the earthquake in Japan dented investors’ appetite for risk. At the close, the FTSE 100 index was 23.38 points lower, or down 0.4 per cent, at 5,762.71, having rallied 2.9 per cent over the three previous [...]
Wall Street slides amid light trading March 22, 2011 WALL Street snapped a three-day winning streak yesterday, even as investors adjusted to the insecurity created by events in Japan, the Middle East and North Africa. The Dow Jones industrial average shed 17.90 points, or 0.15 per cent, to 12,018.63. The Standard & Poor’s 500 Index dropped 4.61 points, or 0.36 per cent, to 1,293.77. [...]
Speculators may be the only party to gain from yen sales March 22, 2011 SINCE the events that struck Japan last week, the G7 grouping of countries, of which Japan is a part, has come to its aid by selling reserves of the yen. But was outside help unavoidable in order to push down the yen? The G7 has made a sizeable bet that it was. Estimates are that [...]
RESILIENCE OF THE EURO MAY NOT CONTINUE March 22, 2011 DIRECTOR OF CURRENCY RESEARCH, GFT IF THERE was ever a contest for the most resilient currency in the FX market, the euro would be the unquestionable winner at this time. Over the past several weeks, global markets have experienced a series of extreme geopolitical shocks – each one strong enough to make even the most [...]
THE TIPSTER March 22, 2011 WITH market attention fixed on the 24/25 March EU summit and an easing of market conditions in Japan, there is a strong chance of volatile price action on euro-yen. Finland’s unwillingness to double its loan guarantees was a mild surprise and could derail the ongoing up-trends in several euro pairs. The yen’s strength has been [...]
FOREX ANALYST PICKS March 22, 2011 FOREX STRATEGIST JOHN KICKLIGHTER My pick: Short Aussie dollar-Canadian dollar (Ca$0.9700); long euro-yen Expertise: Fundamental and Technical Analysis with Risk Management Average time frame of trades: 1 day to 1 week The fallout from the worst Japanese earthquake in history certainly had its impact on risk trends through volatility, but follow through on positioning rebalancing [...]
Three hawks doesn’t make a rate change March 22, 2011 STERLING broke through $1.63 yesterday on the back of CPI inflation coming in higher than expected. Investors are anticipating that the Bank of England will have to raise interest rates sooner than previously expected. However, despite the Bank of England’s obligation to target 2 per cent, and the growing chorus of experts judging that they [...]
HOW TO KEEP YOUR TRADES IN HARMONY March 22, 2011 CONSULTING ANALYST, INTERTRADER THE definition of harmony is a pleasing combination of elements in a whole. My mentor Bryce Gilmore taught me harmony in the markets. There was no course book, and no papers to read. It was night after night going over the day’s charts, pointing out the harmony in the day’s price action. [...]
Upbeat engineers and banks drive FTSE 100 to 1.2pc gain March 21, 2011 MINERS, banks and engineers drove gains in Britain’s top share index by the close yesterday as hope grew that the nuclear crisis in Japan is easing, while heavyweight Vodafone was boosted by M&A activity. The FTSE 100 closed up 67.96 points, or 1.2 per cent, at 5,786.09, its third straight session of gains. The index [...]