Forex traders are focusing their attention on the pound June 30, 2009 TOP of the agenda for many forex traders at the moment are two things – the future of the pound in the face of expansionary quantitative easing and a ballooning UK budget deficit. Indeed, these issues were among the most keenly discussed at the forex breakfast co-hosted by City A.M. and Alpari UK last Friday, [...]
Fears of Baltic contagion are threatening krona’s health June 9, 2009 FOLLOWING Eastern Europe’s liberalisation in the early Nineties, the three Baltic states led the way in shifting towards an open market economy. They experienced stronger growth rates, lower unemployment and were more successful in bringing down inflation to manageable levels compared to the Central and Eastern Europe (CEE) countries. All three managed to peg their [...]
Bank economist: QE is showing positive signs June 23, 2009 IT MAY be too soon to judge precisely how effective the Bank of England’s quantitative easing (QE) programme has been but there are already early positive signs, the BoE’s chief economist Spencer Dale said in a speech yesterday. “It is still early days in terms of judging the ultimate success of the programme in stimulating [...]
Post-crisis, the carry trade is a new beast to contend with July 22, 2009 IT WAS once the most popular trade in the foreign exchange market and helped fuel the boom in global asset markets until 2007. But with the advent of the sub-prime, and subsequently the full-blown, financial crisis, the carry trade was unwound as investors became risk-averse and piled into safe-havens such as the US dollar and [...]
BEST OF THE BROKERS June 3, 2009 VODAFONE GROUPCitigroup analysts returned from travelling with Vodafone managers to meet investors and were no less positive on the structural opportunity at the group than before. The broker remains a “buy” on the stock with a target price of 118p, but argues that targets could be increased, perhaps in November. The focus remains on shareholder [...]
BEST OF THE BROKERS June 3, 2009 VODAFONE GROUPCitigroup analysts returned from travelling with Vodafone managers to meet investors and were no less positive on the structural opportunity at the group than before. The broker remains a “buy” on the stock with a target price of 118p, but argues that targets could be increased, perhaps in November. The focus remains on shareholder [...]
Commodity currencies on the turn July 7, 2009 OVER the past fortnight, risk aversion has returned with a vengeance as a string of data – including US unemployment figures and a downward revision to UK first quarter GDP – disappointed the markets. Foreign exchange markets have reacted predictably with both the US dollar and the Japanese yen strengthening markedly against the commodity currencies. [...]
Commodity currencies on the turn July 7, 2009 OVER the past fortnight, risk aversion has returned with a vengeance as a string of data – including US unemployment figures and a downward revision to UK first quarter GDP – disappointed the markets. Foreign exchange markets have reacted predictably with both the US dollar and the Japanese yen strengthening markedly against the commodity currencies. [...]
Even neutral news from the Fed will boost the greenback June 23, 2009 FEDERAL RESERVE Chairman Ben Bernanke and the rest of the Federal Open Market Committee (FOMC) have an unenviable job today as they discuss the next steps for US monetary policy against the backdrop of improving global conditions – the decision is due at 7.15pm this evening Since the committee last met on 28-29 April, the [...]
CITY MOVES WHO’S SWITCHING JOBS June 30, 2009 TalkTalkThe broadband provider has appointed David Cooper as chief information officer. Cooper will be responsible for the firm’s IT systems and, in particular, will oversee the integration of those systems with Tiscali UK, which it acquired in May for £236m. He previously worked at BT during the 1980s and 1990s, and most recently spent seven [...]