Archive for July, 2011

Sterling lost a net cent last week against the Australian dollar, but only by the same accident of timing that allowed it to move ahead in the previous week. Last Monday’s opening coincided with a four-week high for the GBP/AUD spreads. Sterling opened in London yesterday unchanged from its position at the beginning of...
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EU indices traded heavily lower on Wednesday as investors made a concerted move to avert risky asset classes as fears over Eurozone debt contagion increased and politicians in the US appeared no closer to reaching a deal on raising the US debt ceiling. We have seen risky asset classes sold off across the board...
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The FTSE 100 and other European indices endured a very choppy trading session as investors positioned themselves ahead of a vital few days of talks between lawmakers in the US. They will attempt to reach a compromise over an ideological divide to save the US from a default and subsequent credit ratings downgrade. The UK Index...
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Protracted debt ceiling discussions in the US and sovereign debt concerns in Europe have weighed on European markets today, with financials bearing the brunt of the falls. Continued divisions between Republicans and Democrats have increased market fears that an agreement on raising the debt ceiling is as far away as ever. Moody’s decision to downgrade...
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A two-and-a-half-cent range included half a dozen reversals of direction that ultimately led nowhere. To all intents and purposes sterling was unchanged from one Monday morning to the next. The Canadian dollar was torn in two directions. On the one hand it was held back by its close relationship with the US dollar; on the...
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It was a week of three halves for sterling against the dollar last week; down on Monday, up on Tuesday and Wednesday, and down on Thursday and Friday. Thin and nervous markets led to some sharp moves in the GBP/USD spreads, notably on Wednesday when the pound jumped a cent and a half higher...
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Bank share prices dropped across Europe on Monday, dragging stock indices lower by between 1.3% and 1.9%, as concerns weighed over potential capital raising and exposures to sovereign debt. Debt concern has evolved from a European issue into a global economic problem with the US seemingly at deadlock on raising the debt ceiling, whilst...
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For the first three days of last week sterling looked comfortably lodged within a cent-and-a-half channel. On Thursday morning it moved lower, with the GBP/AUD spreads eventually touching a record low. Friday afternoon brought a bounce of nearly two cents, courtesy of a hugely disappointing US employment report. When London opened Monday morning...
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European equity markets pushed high in the afternoon session after being somewhat mixed in the morning session awaiting the next catalyst for a move up or down as concerns about Europe have been offset by better than expected Chinese economic data. Retailers have been at the forefront with Marks and Spencer announcing a sales...
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Stock markets across Europe endured a roller coaster day with indices swinging widely between small and heavy losses on Tuesday as investors jostled between concern that Italy and Spain may be dragged into the sovereign debt crisis and desire to short term bargain hunt. At one point the FTSE 100 lost 2%, whilst the...
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