Tech shares lead bearish sentiment on Wall Street June 21, 2010 STOCKS once again succumbed to late-day selling in light trading yesterday as hopes China’s newfound dedication to yuan flexibility turned to doubts about the speed and magnitude of Beijing’s intentions. The market’s overall bearish tone eroded the initial optimism around the benefits of the yuan move. Stocks pulled back as investors questioned the effectiveness of [...]
Chancellor to declare the winners and losers June 21, 2010 WITH tax rises and spending cuts expected in today’s Budget, many equity strategists are advising investors to steer clear of stocks heavily reliant on UK-based revenues. Instead, contracts for difference (CFD) traders should target equities with international and private sector exposure. The emergency Budget is likely to focus on tax rises instead of detailed spending [...]
GOLD’S SHINE TO KEEP ITS PRICE HIGH June 21, 2010 TWO weeks ago, Federal Reserve chairman Ben Bernanke was giving testimony to the House Budget Committee. In the Q&A session that followed, he was asked, among other things, about the price of gold. “I don’t fully understand movements in the gold price,” he replied, going on to say that he felt its rise was an [...]
China’s FX shift won’t spark a sustained rally June 21, 2010 IT WAS a decision that had been long awaited by the financial markets, analysts and policymakers alike. But the announcement by the Chinese central bank to gradually return the Chinese currency to a managed floating exchange rate was issued with little ceremony on Saturday evening Beijing-time. Despite its vagueness, the statement was leapt upon yesterday [...]
CFD ANALYST PICKS June 21, 2010 TECHNICAL STRATEGIST JOEL KRUGER My pick: Sell FTSE 100 at 5,400 Expertise: Technical analysis Average time frame of trades: 5-10 days The market has been very well-supported on dips below 5,000 with the latest bounce now likely to be opening additional gains back towards the 5,400 level over the coming sessions. However, any additional gains [...]
Wake up your trading with a caffeine boost June 20, 2010 UNFORTUNATELY for those of you craving your third Monday morning coffee, feeding that caffeine addiction is getting even more expensive. Over the past week or so, we have seen the price of coffee beans surge by more than 20 per cent, taking them back towards the heady levels last seen at the height of the [...]
THE WORLD CUP TIPSTER June 20, 2010 SO FAR, the 2010 World Cup has been full of shocks and surprises. From England’s draw with the USA and Algeria to Germany and Spain’s defeats at the hands of Serbia and Switzerland, it has been difficult for traders to predict the outcome of some of these matches. But favourites Spain will be looking to [...]
THE TIPSTER June 20, 2010 NEWS of the BSkyB takeover bid has helped to push the firm’s share price up this week to 699p. Analysts predict that following the rejection of its low-ball attempt, Rupert Murdoch’s News Corp may be prepared to make a bid of up to £8 per share to acquire the remaining 61 per cent of the [...]
SPREAD BET GURU June 20, 2010 TECHNICAL ANALYST Q. Dear Sandy, what is technical analysis and can it help me in the current market environment? A. Firstly, technical analysis is not about predicting what the market is going to do next. Instead, it is more about looking at past price movements and patterns to help one make a forecast on what [...]
Yuan un-pegging to lift markets before Budget June 20, 2010 News at the weekend that China is to ease the yuan’s peg to the US dollar will be a boost to stock markets everywhere this morning, in the expectation that the move would prove a major lift to exporters. FTSE SET TO OPEN HIGHER GFT is forecasting the UK’s FTSE 100 to open up 35 [...]