Archive for July, 2010

Despite yesterday’s lower US close, European markets have been trading broadly higher today, if a little subdued, after a number of companies posted better than expected Q2 earnings, across a number of sectors. Amongst those reporting were AstraZeneca, who raised their forecasts for full-year core earnings to between $6.35 and $6.65 a share, up...
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Bank of Canada raises its overnight rate from 0.5% to 0.75%. Having started off from $1.61 last Monday the pound was unable to make it any higher, although it did have another look at that level on Tuesday and again on Friday. On Wednesday and Thursday it tested support at $1.58. When London...
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After two days oscillating between SFr1.60 and SFr1.61 the pound slumped to SFr1.5850 on Thursday. On Friday it shot up above SFr1.62 and was higher at SFr1.63 by the time London opened this morning. Swiss exports and imports were both lower in June but it was imports that fell more quickly, allowing the trade...
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Last week’s starting point marked the low for sterling financial spreads. By the middle of the week it had peaked and settled back into what looked mainly like a one cent range. The euro continued its recovery against the Swiss franc last week just as it did against almost every other currency. It...
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Japanese data either astonishing or dull; no middle road. Weekly JPY Review: A two and a half yen range held the pound. It opened in London this morning unchanged on the week. The yen’s struggle for inspiration was as difficult as ever. Industrial production stagnated, with a 0.1% increase in May. The 20.4%...
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Swissy gets back into step with the euro, but for how long? Sterling never really made it above Monday’s Swiss franc starting point. Although it did have another look at that level on Tuesday it spent the rest of the week on the slide. The low came on Tuesday morning, just as London was...
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With US markets clocking their first 5 day winning streak since April it could be that European markets continue the positive trend this morning with some early gains. However with some important early economic data, that could change fairly quickly. Traders can take heart from yesterday morning when the UK GDP figure came in...
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On Monday sterling failed to make the break above $1.51 and it spent the next two days drifting down. Thursday brought a sharp rally and sterling was trading just short of that level when London opened this morning. Members of the Bank of England’s Monetary Policy Committee were out in force, offering their various...
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SNB rethinks its hands-off policy for the franc. It was almost a one-way street for sterling. It started by accelerating to a low, which it touched on Thursday. It rebounded to a high the following day but subsided to open in London this morning. The week’s three Swiss ecostats, the UBS consumption indicator, the...
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Today’s US Independence Day holiday has sucked most of the life out of the market with listless trading for most of the day, as the FTSE idles along in tick-over mode. The stand out performer has been BP on speculation that it might be able to attract capital injections from a number of interested sovereign...
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