Archive for August, 2010

Sterling Slides on Fears of Double Dip

August 31, 2010
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After managing to sustain its highest levels for a year for a couple of weeks now the pound has slid back today against a basket of currencies on the back of risk aversion and capital flows into the US dollar, yen and Swiss franc as fears about the US and global economy continue to...
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Equity Markets See Increased Volatility

August 27, 2010
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Equity markets have spent most of the day pinging between negative and positive territory, clawing their way back higher buoyed by slighter better than expected UK GDP figures, followed by US GDP figures that came in slightly better than markets had been pricing in. UK Q2 GDP came in at 1.2% slightly better than...
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Sterling Strengthens Vs the Euro

August 25, 2010
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Bundesbank head calls for continued monetary stimulus. After falling on Monday and Tuesday the pound spent the rest of the week pointing higher. It only managed to add a single net cent but that can be considered a result given that, at its nadir, it was two cents below its starting point. In forex...
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Day Trading Markets Get a Boost from GDP Data

August 13, 2010
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Equity markets got an early boost this morning as Germany, France and Spain all posted better than expected Q2 GDP figures with Germany posting a 2.2% gain, its best performance in 23 years, against an expectation of 1.3%. Euro zone GDP also came in higher than expected at 1% boosted by the lower single...
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Euro Continues to Benefit from a Weaker Dollar

August 11, 2010
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A narrow range of little more than a euro contained sterling in the spread trading markets as it drifted very slightly lower. It opened in London this morning a fairly meaningless quarter cent lower than last Monday’s starting point. After several weeks of bouncy economic data the UK delivered some decidedly unimpressive figures. The...
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Day Trading: Crude Oil and Canadian Dollar Oil to Hold onto Recent Gains?

August 10, 2010
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The rebound in the Reuters CRB since the lows in early June has seen equity markets reverse most of their losses from the sell-off in May. Commodity prices have risen across the board from soft commodities like, cocoa, sugar and wheat on supply concerns, to industrial metals like copper on speculative inflows and US...
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Day Trading Markets Rebound

August 9, 2010
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After Friday’s late rebound in the US reversed most of the market losses post payrolls, equity markets have opened higher today, and have traded in a fairly tight range for most of the day. With no real data of note to drive sentiment the markets remain focussed on tomorrow’s main event of the Federal...
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Sterling Continues to Gain on the Dollar and Euro

August 6, 2010
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The pound is heading for a fourth weekly gain against the Dollar and Euro after BoE left rates unchanged at 0.5% and kept the asset purchase program unchanged also. Focus will turn to the quarterly Inflation Report to be released on August 11 and minutes to be released on August 18. The dollar is...
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Day Trading: CAD and ZAR Looking Weak Compared to Sterling

August 5, 2010
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ZAR Day Trading South African consumer price inflation slows. A much busier than usual week of South African statistics delivered loads of economic evidence and no movement for the rand. Employment in the second quarter of the year was not as difficult as the first quarter; 61k jobs went in Q2 after 171k job...
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Sterling Looking Strong Vs the Australian and New Zealand Dollars

August 4, 2010
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Low inflation print suggests no change for AUD interest rates this week. Two inflation measures last week rained on the parade of those looking for higher Australian interest rates. At the beginning of the week the producer price index – factory gate prices – went up by 0.2% in the second quarter of the...
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