Australian Dollar Outlook 21/03/2011
The Australian dollar has opened firmly in the mid 0.9900’s this morning after one of the wildest weeks in the currency markets since the GFC in late 2008.
If It Bleeds It Leads
- The threat of a Japanese nuclear disaster is much less than perceived by media and financial markets- The newest generation of nuclear power plants represents even less risks By Richard (Rick) Mills, Ahead of the HerdAs a general rule, the most successful man in life is the man who has the best informationWhat is happening in Japan is a humanitarian disaster, but not because of what primetime pu...
REPEAT Rudi's View: Looking Forward
(This story was originally published on Wednesday, 16 March 2011. It has now been re-published to make it available to non-paying members at FNArena and readers elsewhere).- February revealed an extreme gap in earnings growth between "winners" and "losers"- This gap is expected to narrow, if not close over the next 18 months- This prospect is not priced in share prices for most industrial stocksBy...
Daily Forex Forecast 21/03/2011
The Australian Dollar has bounced dramatically off 3-month lows against the greenback around the 0.9780 area and opens the new week at 0.9950.
More news
Outgoing Google chief gives thumbs up for $43 billion NBN project
Outgoing Google chief executive Eric Schmidt lauded the Australian government’s national broadband initiative of putting up a country-wide network that he said would boost business and consumer growth.
Qantas settles New Zealand freight cartel
Australian national carrier Qantas Airways Ltd (ASX: QAN) had reached a settlement with the New Zealand Commerce Commission in relation to price fixing conduct within its freight division between 2000 and 2006.
Uranium Update
By Greg PeelIn this week's regular uranium report (Uranium: A New Dynamic) I noted that pre-quake trade had the uranium spot price rising for the first week in many, by US$1.00 to US$67.75/lb on industry consultant TradeTech's weekly indication. It's all academic now of course, given the situation in Japan has thrown the global uranium industry into turmoil.Fellow consultant UxC published its week...
Australian Dollar Outlook 18/03/2011
The Australian dollar has opened lower this morning as investors remain focused on news from Japan overnight.
High Frequency Trading - Some Home Truths
(This story was originally published on March 10, 2011. It has now been made available to non-paying members at FNArena and to readers elsewhere.)The following is the text of a speech prepared by Greg Peel and delivered in November 2009 to a financial markets seminar in Singapore. The text is no less relevant today and given the attention being directed towards high frequency trading in the US and...
World Market Overview 18/03/2011
U.S. stocks were on track to post their first gain in four sessions Thursday as bets that rebuilding efforts in Japan could lift energy and industrial companies and offset anxieties around the country's nuclear power crisis.
Australian Stock Market Report - Morning 18/03/2011
US consumer prices rose by 0.5pct in February - marking the largest monthly increase in 18 months. In the 12 months to February consumer prices were up 2.1pct. Gasoline prices was the key driver rising by 4.7pct.
The Overnight Report: No New News Is Good News
By Greg PeelThe Dow rose 161 points or 1.4% while the S&P gained 1.3% to 1273 and the Nasdaq closed up 0.7%.If I had told you last week that the Dow was up 160 points on a night oil was up four dollars you'd have thought it was a typo. But that's where we find ourselves, only one week after a period in which rising oil simply meant falling stocks.Last night MENA was firmly back in the frame. Tensi...
TEMPTU to donate online sales proceeds to Japan tsunami & earthquake relief
TEMPTU, the worldwide leader in airbrush makeup, announced today the donation of sales proceeds from TEMPTU websites to Japan Tsunami & Earthquake Relief to assist the recovery of the victims and areas affected by the devastating earthquake.
US Economy: Beware The Housing Slump
In 2007 the US housing sector and all the exotic securities than hang off dodgy valuations, falling prices and going broke homeowners smothered the US financial system and economy, producing the 2008 crash and crunch.In 2011 the US housing sector remains broken and is in danger of smothering, or at best severely retarding America's stuttering economic recovery.In its post meeting statement th...
Banks: Tough Times Ahead
A speech this week by a senior executive at the Reserve Bank should force all investors to reassess their holdings (if they have them) in Australian banksIn short, if you are looking for capital gains in the next three years from bank shares, which dominate the local market, then think again.And if you are income driven, the banks will find themselves under increasing pressure to drive earnings hi...
Japan: Ignore The Alarmists, Especially Where Australia And Quakes Are Concerned
The early gloomsters are out and about proclaiming that Australia will suffer from any sell off of Japanese investments or from any slump in Japanese economic activity as a result of the quake, tsunami and nuclear crisis.Many of these 'experts' are the same who saw collapse and debt crisis in the GFC for Australia, and have yet to get around to correcting some of their more outrageous co...
Aussie dept store Myer loses $11M due to natural disasters
Australian department Store Myer Holdings Ltd announced total sales for the 26 weeks to 29 January 2011 were $1.73 billion, down 3.5 percent compared to last year. On a like-for-like basis, excluding the impact of new stores, refurbishments and Myer Melbourne, sales were down 5.2 percent.
Japan tries air, land tactic to quell nuclear disaster
Pursuing a dangerous tact to quell a nuclear disaster, Japan has used helicopters to cool down the nuclear reactors at the Fukushima nuclear power facility.
Unsolicited offer by Carlyle Securities not endorsed by Contact Energy
An unsolicited offer has been made by Carlyle Securities L.P to purchase up to one million Contact Energy shares(NXE: CEN), Origin Energy (ASX: ORG) said today. Origin owns 51 per cent of Contact.
Macquarie Group chairman Clark resigns
Macquarie Group has announced today that its chairman David Clarke has formally stepped down from his post to address some personal health issues.
Aussie dollar loses parity with US dollar
The gains attained by the Australian dollar to reach parity along with the US dollar had been wiped away by the volatile pessimistic markets.
China's Inflation Problem
- Oil is China's biggest import- Oil price strength pushing inflation higher- Currency revaluation should followBy Greg PeelAs Libya descended into civil war and Saudis threatened a Day of Rage, the price of Brent crude reached a peak above US$116/bbl. The Saudi protest did not materialise and thus took some of the heat off the oil price, but it is the immediate reaction to the Japanese earthquake...
Australian Dollar Outlook 17/03/2011
The AUD has gone into freefall this morning as fears grow over the ongoing nuclear crisis in Japan.
The Overnight Report: Alarmist Comments Fuel Stock Meltdown
By Greg PeelThe Dow closed down 225 points or 2% while the S&P lost 2% to 1256 and the Nasdaq dropped 1.9%. The S&P is now one point down for 2011.I suggested yesterday that Prime Minister Kan appeared to be keeping the world up to date with developments – a far cry from the Chernobyl incident in Russia which saw the first alarm raised by Sweden. The Japanese are renowned for their calm in a...
Daily Forex Forecast 17/03/2011
News of another explosion at the Fukushima nuclear power station sent shockwaves through global markets.
World Market Overview 17/03/2011
The Australian share market closed in the black for the first time in the past six trading sessions, triggered by strong gains in Tokyo and buoyed by bargain hunting.
Australian Stock Market Report - Morning 17/03/2011
US producer prices rose by 1.6pct in February - marking the largest monthly increase in 18 months. In the 12 months to February producer prices were up 5.6pct. Energy price surged by 3.3pct in February.
Top 10 Wealthiest People in Australia 2011
Gina Rinehart, the daughter of mining magnate Lang Hancock, is now the richest Australian ever.
Series of global disasters since December slows down economic growth
Global disasters will likely impact the Australian economy through the fourth quarter of 2011, with its expansion projected to be hampered by sluggish pace that experts said should commence by the second quarter of the year.
Reports: Rio Confident, For Now
A rather bullish outlook from major miner Rio Tinto in its 2010 review released yesterday helped the shares rebound nearly 2% in yesterday's steadying market.The shares rose $1.53, or 1.98%, to $78.94 after being as high as $79.52 in the morning as investor sentiment about stocks, especially commodities and uranium miners (Rio has a mine or two in Australia and South Africa), recovered from T...
Strategic Marine to provide high-speed patrol vessels for AFP
Western Australian owned international shipbuilding company Strategic Marine has been contracted to provide high-speed patrol vessels for the Australian Federal Police.
Uranium producer Paladin expresses concern on Japan nuclear situation
Australia-based uranium production company Paladin Energy Ltd (ASX: PDN) expressed its deepest condolences to the people of Japan following the tragic events of Friday 11 March 2011.
Apple stores report of iPad sellouts as Japan debut pushed back
The massive earthquake and the tsunami it spawned in Japan pushed back the late March launch of iPad 2 in the country even as Apple struggle to meet the refurbished tablet’s online demand, admitting on Wednesday that global consumers will have to endure weeks of delay.
Murchison executes US$100 million bridge finance facility
Murchison Metals Ltd (ASX: MMX) has formally executed its agreement with Resource Capital Fund V L.P. (RCF V) for the US$100 million Bridge Finance Facility that was announced to the ASX on 19 November 2010.
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