THE NEW YORK REPORT June 29, 2011 Wall Street closed its best three-day run in the past three months yesterday after the Greek parliament approved austerity measures to avoid defaulting on its debt. Optimism about the plan’s approval has helped the stock market recoup some of its losses of the last two months. The CBOE Volatility Index, Wall Street’s “fear gauge,” fell [...]
Asia provides top prospects for emerging market gains June 29, 2011 HAVING successfully run Baring’s Global Emerging Markets fund for five years, James Syme (below left) and Paul Wimborne (below right) are moving over to JO Hambro Capital Management (JOHCM) to start the Global Emerging Market Opportunities fund. It is being launched today and will be run on the premise that “top-down developments, normally at the [...]
Swiss franc strength hits exports June 29, 2011 WHILE the European sovereign debt crisis rages on, Switzerland sits in the eye of the economic storm. Though the Swiss have been prudent where their European Union neighbours have been profligate, their economy is nevertheless suffering from the effects of the European turmoil. The longer the European crisis continues, the higher the Swiss franc will [...]
FTSE climbs as investors pile into financial stocks June 28, 2011 FINANCIAL stocks helped Britain’s top share index climb yesterday as hopes of a resolution to Greece’s debt problems spurred appetite for riskier assets. Banks were in demand, led by part state-owned Royal Bank of Scotland as investors bet the Greek parliament will this week vote through austerity measures needed to secure more aid from international [...]
A legal battle could yet sink the Greek bailout June 28, 2011 ALTHOUGH the Greeks will vote today on the adoption of austerity measures, that vote could mean nothing if a court case launched by a group of five German citizens derails Germany’s financial contribution to the bailout. The group, led by Peter Gauweiler, a member of parliament for the Christian Social Union (CSU) party, includes legal [...]
RELIEF AHEAD FOR THE EURO AFTER GREECE June 28, 2011 IN the currency market, all eyes are on Greece ahead of the key austerity vote later today. The general consensus is that George Papandreou will be able to push through the legislation, aided by defectors from the opposition New Democratic party. On Monday, ND deputy Elsa Papadimitriou indicated that she may vote for the austerity [...]
Follow trading leaders using social networks June 28, 2011 THERE’S plenty of cheap talk on social media’s bright future and its potential to turn friends and followers into profit. However, thus far, returns have failed to live up to the hype. Except in forex trading, where social networks like Currensee and eToro allow you to not only follow and interact with other traders, but [...]
THE TIPSTER June 28, 2011 STERLING fell to five month lows against the dollar yesterday, as fresh concerns over the European debt crisis saw investors flock to traditional safe-haven currencies, such as the greenback and Swiss franc. Spreadex offers $1.5921-$1.5924 sterling-dollar. Is the par(i)ty coming to an end for the Aussie dollar? After a meteoric rise fuelled largely by massive [...]
FOREX ANALYST PICKS June 28, 2011 FOREX STRATEGIST JOHN KICKLIGHTER My pick: Short sterling-dollar and kiwi-dollar. Long loonie-yen. Expertise: Fundamental analysis with risk management Average time frame of trades: 1 day to 1 week Significant volatility from last week didn’t translate into a decisive trend. That makes medium-term trade setups fewer and farther between. Of my setups from last week the [...]
