It was certainly a mixed week for world stock markets last week with Monday’s opening slump almost being cancelled out by Thursday’s strong rally. The S&P 500 just managed to nudge into positive territory for the week, while the FTSE, CAC and DAX could only were firmly in the red.

US house prices fell by 6.8% in April and existing home sales fell by 3.0%. The US housing market at the epicentre of the credit crunch has stopped cliff diving but prices are still marching downwards. The pace of the global meltdown has slowed, but judging by last week’s US unemployment claims increase, any meaningful recovery will be long and drawn out.

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admin :: Jun.29.2009 :: Uncategorized :: No Comments »

US equities enjoyed a positive week, thanks largely to the Monday’s opening gap higher than Friday’s close. There was a mixed reaction to Friday’s Non Farm Payroll numbers. Job losses came in at much less than anticipated causing short term volatility on equity futures and currency markets. Treasuries plunged and stocks surged at the open, but this initial move was short lived. Unconfirmed rumours speculated that the best NFP numbers in comparison to expectations since September were caused by a computer error. ISM manufacturing data contracted at its slowest pace for eight months. European markets had a mixed week, with the FTSE hampered by blue chip companies going ex dividend, amid growing uncertainty over the Labour leadership.

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admin :: Jun.08.2009 :: Uncategorized :: No Comments »

Market friendly election results from India got equities off to a good start last week, and despite slipping into reverse gear midweek, global stock markets managed to close the week in the black.

Barclays was firmer on speculation that Blackrock and The Bank of NewYork Mellon may compete to acquire the BGI unit. Barclays seemed unaffected by reports that the creditors acting on behalf of Lehman Brothers are claiming foul play in the rushed purchase of the former US brokerage unit.

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admin :: May.25.2009 :: Uncategorized :: No Comments »

The FTSE currently indicates a stronger open, as rumours that todays US GDP numbers might be stronger then expected has traders ready to press the buy button. Analysts are expecting for a reading of -4.7% however some traders are now only pricing in a -4% loss. Just a warning, that should the number come out as expected, look for the markets around the world to take a dive.

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admin :: Apr.29.2009 :: Uncategorized :: No Comments »

The FTSE currently indicates a stronger open, as traders are hoping that the UK employment numbers will hint at an improving economy. Also being released this morning is the minutes from the last meeting of the BOE. With all this data, we can expect a very wild morning for the FTSE.

Crude oil is trading just under the 50 dollars per barrel level following gains in U.S. equities, after Treasury Secretary announced that “vast majority” of the nation’s banks passed the capitalization stress test. Crude futures rose as financial shares led U.S. equities higher. Energy prices also increased as the euro climbed against the dollar, bolstering the appeal of commodities as an alternative investment. Oil prices are likely to be quiet today, until the release of the inventory numbers later in the day.

Trade Of The Day

Here is a good value play: A no touch on the USD/JPY for 8 days, with a trigger at 102.00 pays 7% ROI.

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admin :: Apr.22.2009 :: Uncategorized :: No Comments »