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Markets Update 29 May
2008-05-29 16:22:00 After weak Australian Capex, weak German employment data, and an upwardly revised US Q1 GDP, the greenback is stronger against most major currencies with the exception of the Canadian dollar. The US dollar index is up .30 at 72.84. With UBS CEO saying the worst of the subprime crisis is over for banks, credit market spreads have tightened with the European iTRAXX Series 9 5 year crossover is down 6 ... More About: Markets , Update , Fundamental Analysis , Interest Rate
Nouriel Roubini in Video Interview with the Financial Times
2008-05-29 15:24:00 He discuss the outlook for the US economy, housing and mortgages; the prospects for policy action (the Frank-Dodd bill to provide debt relief to distressed mortgage borrowers) and for Fed policy; and the outlook for financial markets. Part 1 Part 2 Part 3 More About: Video , Financial , Interview , Times , Fundamental Analysis
Market update 27th May
2008-05-27 17:48:00 Prior to the S&P CS US home price index, the greenback is mixed but still under pressure from the downgrading of the US economy from the Federal Reserve that occurred last week. The US dollar index is up .08 at 72.07. ?With continued concern over UBS rights issuance, credit market spreads have moved out with the European iTRAXX Series 9 5 ... More About: Market , Update , Fundamental Analysis
US green light for GCC forex policy switch
2008-05-26 15:36:00 Merrill Lynch & Company said the United States has effectively given Gulf oil producers the go-ahead for making changes to their dollar-pegged foreign exchange policies, by recognising inflation as a problem. In a report entitled “US Green Light for the GCC”, the US investment bank said the UAE and Qatar will probably move to a currency ... More About: Forex , Policy , Switch
FX Market Update
2008-05-21 19:15:00 With shadings of higher rates in Australia and Europe, the currency markets are beating the US dollar like a rented mule. The US dollar index is down .52 at 72.52. After the WSJ reports that a Citigroup Inc. hedge fund caused steep losses for at least three large U.S. banks, credit market spreads have moved out with the European iTRAXX Series 9 5 year ... More About: Market , Update
Hello world!
2008-05-13 13:23:00 Welcome to WordPress. This is your first post. Edit or delete it, then start blogging! More About: World , Hello World
A Petrodollar Tsunami Warning
2008-02-22 22:33:00 Summary and conclusions Oil prices just breached the psychological US$100 a barrel threshold. High oil prices will clearly boost the global capital flows into petrodollars: after all, high energy prices lead to transfers from oil importers to oil exporters. Investment decisions - both physical investment and financial investment - made by the owners of petrodollars will ... More About: Tsunami , Policy , Warning
DARK TIMES
2008-02-22 20:59:00 The past week in the financial markets has been one of continued uncertainty and fear. There seems to be in every corner of the bond market an unusual wrinkle to which investors have grown cautious. The complexity and breadth of the financial products has created an aura of alchemy that harkens back to the days ... More About: Dark , Times , Dark Times
TOP SLATE FOR 2008
2007-12-30 15:10:00 As the assassination of Benazir Bhutto demonstrates, turmoil and change are the constants in the world. As 2007 has proven, these themes reinforce volatility and exacerbate uncertainty in the financial markets. As we draw the year to a close, what lies beyond will be a year that starts with dark tones that should give way to ... More About: Slate , 2008
Gold Could See $1,000 in 2008
2007-12-30 14:08:00 Gold finished the Minor degree wave 3 of Intermediate degree 1 up on May 12th at $730.40, and has decisively surpassed that level, a Bullish breakout. It came close to hitting a new all-time high, above $850.00. It got to $848 on November 7th, 2007. It closed November with an average daily price over $800 ... More About: Gold , 2008
Precious Points: Super Breakout!
2007-12-30 13:58:00 “The move from a triangle e should be a powerful thrust that breaks out of the triangle. Though Friday’s action began strongly, it stalled in the afternoon leaving the wxy alternate still valid. We’ll know very soon which count is invalidated … it will take an impulsive thrust above $823 next week in the front ... More About: Gold , Super , Points , Precious , Reci
Gazing into the Crystal Ball for Investing in 2008
2007-12-30 13:37:00 Cash may be king for the moment but financial experts favour a plunge back into equity markets later in the year A ‘YEAR of fear’ for portfolio investors - or a time of great opportunity? This is the question The Business Times put to a panel of financial experts as 2007 draws to a close. Their ... More About: Investing , Crystal , Ball , 2008
Buckle Up ? Turbulence Ahead (Part II)
2007-12-14 15:48:00 Watch changes in tone in the job market Employment-related indicators must be carefully followed too. There are signs of change in the trend of improvement to date, with the jobless rate in September-October climbing back above 4% and rising in consecutive months, and indications also that the job offers-to-applications ratio may soon drop below 1 again. ... More About: Part , Fundamental Analysis , Ahead
Buckle Up ? Turbulence Ahead (Part I)
2007-12-14 15:18:00 Decoupling notion prevails, but a sharp slowdown looks likely Our US economics team has lowered its 2008 growth forecast all the way to 1.1% and expects a mild recession in the first half of 2008. Meanwhile, our economists covering emerging markets, including China, remain bullish. The decoupling notion - that major economies are likely to still ... More About: Part , Fundamental Analysis , Ahead
Kiwi, stay long?for now?
2007-12-13 12:53:00 In kiwi, the bigger picture view remains unchanged as the 3 wave fall from the July high at .8110 (see A-B-C on daily chart below) continues to argue that trade from that high is a large correction, with eventual new highs after. Rebought on last week’s break above the bearish trendline from Oct (then at ... More About: Long , Kiwi , Stay
Beijing lectures US on weak dollar
2007-12-13 06:47:00 Beijing turned the tables on the US on Wednesday after years of criticism from Washington of its handling of the Chinese economy, warning of the serious global implications of the weak dollar, recent US interest rate cuts and the subprime crisis. Beijing highlighted US economic problems at the opening of a twice-yearly meeting between ministers from ... More About: Beijing , Lectures , Dollar , Financial Times
Fed Rewards Risk Seeking Activity (And CNBC Ratings)
2007-12-12 20:07:00 My bottom line is the new liquidity facility the Fed is launching (only four auctions planned but by its own admission it may become permanent) is no elixir for ending the credit crisis. In chess parlance, it is not checkmate, just the Fed moving its queen. The move will help get funds to institutions like ... More About: Federal Reserve , Risk , Ratings , Rewards , Seeking
Fed Soup?Communications Breakdown
2007-12-12 12:19:00 Fed spin has spun out of control. In an after market message for markets, delivered to CNBC’s Steve Leesman and delivered during the Dylan Ratigan Fast Money hour (more like Coney Island sideshow), we learned that an unnamed Fed source told Leesman that the Fed is actively considering all of the tools it has available ... More About: Soup , Federal Reserve , Communications , Interest Rate
Renminbi appreciation
2007-12-12 12:00:00 Another day, another renminbi - or rather another day griping about it. This week’s “strategic economic dialogue” between China and the US predictably kicked off with US treasury secretary Hank Paulson calling for faster appreciation of the Chinese currency. While it is equally predictable that his words will again fall on deaf ears - international ... More About: Appreciation , Financial Times , Reci
$ index, more wide ranging?for now?.
2007-12-11 18:49:00 There are still no signs that this period of correcting is complete and leaves open scope for at least another week or 2 of wide ranging and even higher prices first (see “ideal” scenario in red on daily chart below). Generally best in this type of market to trade shorter term ranges with an upward ... More About: Wide , Index
Bahrain to ditch dollar peg, report claims
2007-12-11 14:19:00 Bahrain will move towards tracking the dinar against a currency basket rather the US dollar, without changing the exchange rate, Al-Wasat newspaper quoted the finance minister as telling the advisory Shura Council. The Finance Ministry declined to comment on the report which contained the latest in a stream of contradictory remarks from policymakers that have ... More About: Dollar , Report , Bahrain , Claims
Gold, month long pattern ?
2007-12-11 10:02:00 Gold futures continue to range since the Nov 8th high at $848 and may be forming a large pennant/triangle, generally seen as a continuation pattern suggesting an eventual upside resolution. However, these patterns break down into 5 legs and argues more ranging within the pattern first (still need waves iv and v, see “ideal” scenario ... More About: Gold , Pattern , Long , Month , Mont
Middle East must loosen ties to the dollar
2007-12-07 07:53:00 Aseismic shift may soon be under way in foreign exchange policy in the Middle East . Immediate attention is on the Gulf countries, led by Saudi Arabia, with a peg to the dollar. Policymakers are now debating whether they should alter their longstanding currency policies. It is not only the dollar’s vulnerability that has prompted this; ... More About: Dollar , Financial Times
Slower Growth for Longer
2007-12-07 07:44:00 We cut our GDP growth forecast for the euro area by 0.4 pp for 2008, to 1.6%, and by 0.3 pp for 2009, to 2.2%. Business conditions in the euro area have not deteriorated as sharply as we had feared one month ago. Notwithstanding this welcome resilience, we think that the bigger picture is becoming ... More About: Oil , Growth , Fundamental Analysis
Dollar peg
2007-12-04 01:52:00 Across the world, currency pegs are under pressure. This may sound like the wave of crises that hit emerging markets in the 1990s, but there is a critical difference: back then the pegged currencies wanted to fall, now they are straining to appreciate.This helps explain the excitement generated on foreign exchange markets by the meeting ... More About: Dollar , Financial Times
Kingdom?s Money Supply Rises 21.11% to SR749.78 Billion in October
2007-12-04 01:37:00 Saudi Arabia’s money supply growth accelerated 21.11 percent in October to a near three-year high, Saudi Arabian Monetary Agency (SAMA) data showed yesterday. M3, the broadest measure of money circulating in the Saudi economy, rose to SR749.78 billion ($199.9 billion) at the end of October, compared with SR619.06 billion a year earlier, the data showed. ... More About: Kingdom , Money , Billion
NFA takes emergency enforcement action against Illinois forex firm, One Wor
2007-12-04 01:03:00 National Futures Association (NFA) announced today that it has taken an emergency enforcement action against One World Capital Group LLC (One World), a Futures Commission Merchant and Forex Dealer Member located in Winnetka, Illinois . Effective immediately, the Member Responsibility Action (MRA) prohibits One World from soliciting or accepting any additional customer accounts or funds. In addition, ... More About: Brokers , Emergency
Long Ridge & Lehman Brothers Among Investors Agreeing To Buy 35% of FXCM
2007-12-04 00:58:00 Forex Capital Markets LLC (FXCM) announced that the Refco estate agreed to sell its 35% ownership interest in FXCM to Long Ridge Equity Partners (and affiliated entities) and Lehman Brothers . The financial terms of the transaction were not disclosed. The announcement of the sale was made today by Drew Niv, CEO of Forex Capital Markets LLC ... More About: Brokers , Lehman Brothers
Dollar?s Destiny Depends on NFPs
2007-12-04 00:49:00 This week the moment of truth may be upon us. The US calendar is chuck full of important data including ISM Manufacturing and ISM Non-Manufacturing surveys, both of which are expected to be softer than last month, though still above the 50 boom/bust line. Dollar ’s destiny however, is quite likely to be determined by Friday’s ... More About: Destiny , Federal Reserve , Fundamental Analysis , Majors
How High the Dollar Rebound?
More articles from this author:2007-12-03 15:37:00 Forecasts of a dollar rebound in 2008 are becoming more frequent as the US current account and budget deficits continue shrinking further. The dollar is unlikely to pursue single directional moves against the major currency pairs in 2008 as was the case in 2007. The extent of the dollar rebound will largely depend on the ... More About: Gold , Daily News , Dollar , Federal Reserve , High 1, 2, 3, 4, 5, 6, 7 |
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