THE TIPSTER November 24, 2009 THE dollar has been falling across the board, but against the Swiss franc it is now flirting with parity. The pair was seen at these levels in the first quarter of 2008, but the currency never managed to fall below SFr 0.9877, and a sustained break below parity would be moving towards uncharted territory. The [...]
THE TIPSTER November 23, 2009 ASIAN markets have been struggling to keep up with the likes of European and US indices, which have continued to mark new highs for 2009. The Japanese Nikkei has failed around the 10,500 level a few times between July and October but its weakness could provide a buying opportunity ahead of the seasonal rally higher [...]
THE NEW YORK REPORT November 23, 2009 US stocks snapped a three-day losing streak yesterday as stronger-than-expected home sales data fuelled optimism while a weaker dollar boosted commodity-linked stocks. Sales of previously owned US homes rose to their highest level in more than 2-1/2 years last month. That helped to ease concerns about the sector generated last week when another report showed [...]
China’s metals market retreat tempts bears November 23, 2009 WITH evidence of real recovery from the global economic meltdown still patchy at best, the mining sector – traditionally a “late cyclical” play – should by rights still be in its end-2008 trough. Yet 2009 has seen an amazing resurgence in the sector, borne up on an industrial commodity price recovery defying belief. Bellwether base [...]
SMALL CAPS SHOW MAIN STREET WOES DAVID MORRISON November 23, 2009 WHILE many stock indices in the US and Europe hit fresh yearly highs last week, a flick through the charts points to a loss of upward momentum. The trend for most major indices remains positive, but despite a strong rally following the dip at the end of October, the markets are looking tired. Focusing on [...]
THE LONDON REPORT November 23, 2009 BRITAIN’S top share index ended sharply higher yesterday, snapping a four-day losing streak, with commodity and banking stocks rallying after comments by a senior US Federal Reserve official. The FTSE 100 index finished up 104.09 points, or 2 per cent, at 5,355.50 and recorded its biggest one-day percentage rise in more than six weeks. The [...]
Looking out for Santa November 23, 2009 BY all accounts UK households are digging in for a frugal Christmas this year. Surveys from research groups like retail specialist Verdict predict that, with the threat of rising mortgage rates and tax increases in 2010, shoppers won’t be feeling too jolly this festive season, and spending will drop year-on-year for the first time on [...]
TAKING A VIEW Trading Outlook November 22, 2009 J&65279;ANE FOLEY R&65279;ESEARCH DIRECTOR, FOREX.COMTHE Bank of England’s forecast that the economy will be growing at 4.1 per cent in 2011 is a nice thought, but nobody really believes it. A survey by Bloomberg points to a consensus expectation of just 1.90 per cent in 2011 following a moderate 1.1 per cent upturn in 2010. [...]
MARKET REPORT November 22, 2009 Kicking off markets for the week, as Asia takes a holiday today – and ahead of the US Thanksgiving break on Thursday – the dollar in New Zealand dropped and Australia’s changed little after both posted their first weekly decline in November so far, as stock market losses hit demand for higher-yielding assets. Both the [...]
Thanksgiving week will hit stocks despite higher start November 22, 2009 UK and European stock markets are set to make a move higher this morning, following on from a rebound in Dow stocks late in the day on Friday off their lows. GFT is quoting the FTSE 100 index to open up 24 points from Friday’s close, at a level of 5,275. The German DAX is [...]