BUSINESS

Global Markets Overview – December 5, 2014

European Central Bank (ECB) President Mario Draghi leaves after addressing an ECB news conference December 4, 2014, for the first time in the ECB's new 1.3 billion euro headquarters in Frankfurt. Draghi said on Thursday the bank would reassess the impact
2015 will remain a year of mass monetary accommodation; what will change is where the money printing and record low rates will come from. The ECB is clearly gearing up for a broad-ranging stimulus package in 2015. ECB President Mario Draghi stated clearly that the Board 'won't tolerate' low inflation and announced that officials had discussed all measures barring gold to support the economy at last night's meeting. It will allot another round to its current corporate bond buying prog...
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US Dollars

Australian Dollar Outlook – December 4, 2014

The Australian Dollar is lower after yesterday's weaker-than-expected GDP data from around 0.8460 to 0.8400 and after some intra-session variation overnight, that's about where it sits this morning.
Vittorio Hernandez Dec 04, 2014
A man is silhouetted in front of a Bank of China's logo at its branch office in Beijing July 14, 2014. China's central bank is looking into allegations by a state broadcaster that Bank of China, the country's fourth largest lender, has been laundering mon

Global Markets Overview – December 4, 2014

In a slight surprise this week, the PBoC did not use the reverse-repo operation to drain the excess liquidity in the market. Most had forecast this would take place considering the fiscal policy changes currently underway. To my eye, this signals intent that 2015 will be a growth supporting year; interest rate cuts, reserve requirement ratios and further disbursements will be a theme from China in 2015.
Vittorio Hernandez Dec 04, 2014
Traders work on the floor of the New York Stock Exchange, December 11, 2008.

Australian Stock Market Report – Morning December 4, 2014

In US economic data, the ISM services index rose from 57.1 to 59.3 in November, above forecasts for a result near 57.5. The ADP survey showed that 208,000 jobs were created in November, just short of expectations for 221,000 job growth. The mortgage market index fell by 7.3% in the latest week, dragged down by a fall in refinancing.
Vittorio Hernandez Dec 04, 2014
A trader works on the floor of the New York Stock Exchange

Australian Stock Market Report –Afternoon December 3, 2014

Australian shares maintained most of their gains with the ASX 200 Index rising by 0.8 per cent; trading above 5300pts and adding to yesterday's 1.4 per cent surge. Energy and mining sectors improved by between 0.7 per cent and 1.2 per cent despite a slump in oil, gold and iron ore prices.
Vittorio Hernandez Dec 03, 2014
Australian Finance Minister Mathias Cormann (R) and Medibank Managing Director George Savvides ring the Australian Stock Exchange Bell to begin trading of Medibank stock in Sydney November 25, 2014. Australian health insurer Medibank Private Ltd, which ra

Australian Stock Market Report – Midday December 3, 2014

Local shares saw a mixed start to trade on Wednesday after the strong gains of the previous session. The ASX 200 opened with a loss of 20 points, however those levels found buying support and over the ensuing hours the market was able to fight its way back into positive territory. At the best levels of the morning the index was up by 50 points and as lunchtime loomed every ASX sector was in positive territory.
Vittorio Hernandez Dec 03, 2014
A man walks past various currency signs, including the dollar (top R), Australian dollar (top L), pound sterling (centre L) and euro (bottom L), outside a brokerage in Tokyo October 28 2014. A year-long investigation into allegations of collusion and mani

Australian Dollar Outlook – December 3, 2014

The Australian Dollar has slipped back below USD 0.8500, being driven by a strengthening US Dollar, concerns over Australia's economy and uncertainty about the Reserve Bank's next move.
Vittorio Hernandez Dec 03, 2014
Retailer

Australian Stock Market Report – Morning December 3, 2014

In US economic data, chain store sales fell by 0.6% in the latest week but the annual growth rate of sales rose from 4.2% to 4.8%. Construction spending rose 1.1% in October, ahead of expectations for a 0.6% gain. And the ISM New York index rose from 657.2 to 663.4 in November.
Vittorio Hernandez Dec 03, 2014
An office worker talks on his phone as he looks the stock board at the Australian Securities Exchange (ASX) building in central Sydney June 15, 2012. Asian shares edged up on Friday, and the euro held most of the previous session's gains, as nervous inves

Australian Stock Market Report – Midday December 2, 2014

Australian shares are being led higher by the mining and energy sectors with the ASX 200 Index rising by 0.7 per cent. Despite today's rise, the local market had its worst day since 10 October yesterday, hit a 1.5 month low in the process and slumped by 3.5 per over two sessions.
Vittorio Hernandez Dec 02, 2014
New York Stock Exchange

Global Markets Overview – December 2, 2014

Tough time to be a commodities trader; overnight trade saw silver moved through a 15% range, gold moved through a 6% range, Brent crude near enough to 7% while copper moved through a 4% range. A look at the commodities boards suggested Christmas festivities had come early, as each moved from negative to positive and vice-versa.
Vittorio Hernandez Dec 02, 2014
A man walks to a train of Deutsche Bahn railway operator at the main train station in Frankfurt November 21, 2014.

Deutsche Bahn Seeks $3B Damage From 13 Airlines For Price Fixing

Deustche Bahn, the German state-owned railway, filed a new lawsuit in Germany and the U.S. seeking over $3 billion in damage from 13 air cargo companies for price fixing. Included in the lawsuit is Australian flag carrier Qantas which has paid over $160 million for increasing the price of freight via fuel and security surcharges between 2000 and 2006.
Vittorio Hernandez Dec 02, 2014
A worker walks at the Nahr Bin Umar field, north of Basra, southeast of Baghdad, November 16, 2014. OPEC producer Iraq expects to base its 2015 budget on an oil price of $80 per barrel, Oil Minister Adel Abdel Mehdi told parliament on Monday. Picture take

Australian Stock Market Report – Midday December 1, 2014

A new month and a new week has started the same way the last month ended, with sellers in control. The ASX started the session with a 5 point loss before trading to the low point of the morning where the index chalked up a deficit of almost 47 points. Over the course of the morning there was little evidence that buyers saw value at the newly discounted levels which had taking the market to the lowest levels in around 6 weeks.
Vittorio Hernandez Dec 01, 2014

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