As debt concerns flood Europe and the market awaits central bank’s meeting for the month of May, the Australian dollar was more than one US cent lower at noon.
- Boart Longyear reiterates guidance at AGM- Lack of an upgrade may be disappointing but reflects conservative management- Positive earnings expectations see stock continue to be rated highlyBy Chris ShawLast Friday Boart Longyear ((BLY)) held its annual general meeting and at the meeting earnings g...
After a few hours of trade, the Australian sharemarket is down 1.2 pct or 55.7 pts to 4731.6. All sectors are trading lower, with the miners, oil and gas producers and major banks dragging the broader market significantly lower.
Inflation data released on Friday in the US was in line with expectations while the University of Michigan consumer survey surprised on the upside. April CPI rose 0.4% mom to be up 3.2% yoy. Inflation projected one year ahead is 4.4%.
AUD was caught in the cross-fire of risk currencies getting sold on EU debt concerns and we closed towards the lows. Traders still calling AUD lower in the coming sessions but wanting a clear break of 1.0500/20 support to confirm this view. RBA minutes tomorrow may dictate the overall move for the week, but with commodities struggling, downside is the risk.
By Ilya Spivak, Currency StrategistFundamental Forecast for Gold: BullishGold Tests Key Trend Line Support, Threatens Bearish BreakoutGold - Forex Correlations Strong Despite Commodities CorrectionGold prices largely decoupled from the risk on/off dichotomy that ruled financial markets in the afterm...
(This story was originally published on Wednesday, 11th May, 2011. It has now been re-published to make it available to non-paying members at FNArena and to readers elsewhere).
A wary end to the week on Friday night in financial markets, with shares and commodities on pause or stuttering as traders try and work out whether the past fortnight is a blip or the start of a correction, or worse.
US consumer prices rose by 0.4pct in April, above expectations centred on a rise of 0.3pct. Excluding food and energy (core measure) consumer prices rose by 0.2pct, in line with expectations. And the US consumer sentiment index rose from 69.8 to 72.4 in May, above forecasts centred on a result near 69.5.
Recent developments in the global crude oil markets, particularly rising tensions in the producing regions of the Middle East, have spurred the return of high levels of volatility to the crude and crude products markets.
Russian Interior Ministry investigator Oleg Silchenko, who was responsible for the false arrest, torture and murder in custody of Hermitage Fund's lawyer Sergei Magnitsky, has issued a summons to question the CEO of Hermitage Capital Management, William Browder, in Moscow.
Hedge fund flows as measured by the GlobeOp Capital Movements Index were positive 2.29% in May.
Leighton Finance International, Leighton Holdings Ltd’s (ASX: LEI) wholly owned subsidiary, is redeeming the five-year 7.875 per cent fixed-rate US$110m Guaranteed Notes issued on 16 May 2006.
- The PBoC has again raised the Chinese RRR- There is some evidence of slowing in the short term- Liquidity nevertheless remains little changed- Beijing is unlikely to go hard on interest rate risesBy Greg PeelThis week's Chinese “data dump” showed April CPI inflation had slipped to an a...
AUD was initially sold lower in Europe as the market continued with negative sentiment after the bad jobs numbers but support was yet again found under 1.0600 and most traders are now starting to feel that 1.0550/1.0600 could be the base for the time being. For the bullish sentiment to return we need a convincing break back through 1.0700
By Greg PeelThe Dow closed up 65 points or 0.5% while the S&P gained 0.5% to 1348 and the Nasdaq added 0.
Yesterday the Australian Bureau of Statistics (ABS) reported that the unemployment rate remained at 4.9% in April, while total employment fell by a seasonally adjusted 22,100
HFR (Hedge Fund Research, Inc.) announces the industry's first daily hedge fund performance database, allowing investors to access data on a rapidly growing universe of hedge funds which provide investors with daily performance figures.
The recent woes of the Aussie were compounded by local employment data yesterday and after falling almost 2 cents in the 12 hours prior to the release another cent was given up almost immediately.
MARKET CLOSE
(4.30pm AEST)The energy and mining sectors were the best performers yesterday, but it was a very different story today, with both sectors holding the market back. The ASX 200 index (XJO) fell 1.8 pct or 84.1 pts to 4696.1 while the broader All Ordinaries index (XAO) slumped by 1.7 pct or 81.6 pts to 4776.6.The S&P/ASX 200 Materials index fell 2.57 pct or 355.2 pts to 13482.1, off the back of weaker commodity prices overnight in U.S trade. Australia’s largest miner, BHP B...
The energy sector pulled U.S. stocks lower Wednesday, with the Standard & Poor's 500 index posting its biggest one day drop in two months, as crude oil prices tumbled. The Dow Jones Industrial Average shed 130.33 points, or 1.02%, to 12630.03.
Two out of three Australian small businesses think that ‘business is good’, with some considering the strong Australian dollar an integral business tool, according to a new small business survey released today by Westpac.
- Westfield update shows lower costs offsetting stronger $A- Lift in development starts sees changes to earnings estimates- Two upgrades, Buys now dominate Westfield Group ratingsBy Chris ShawA stronger Australian dollar has been impacting on earnings for Westfield Group ((WDC)) but a quarterly trad...
Australia’s unemployment rate stayed at 4.9 per cent in April, official figures from the Australian Bureau of Statistics (ABS) show today.
Hedge funds returned an average of 2.05% in April 2011 and the rate of net investor inflows
was again above the 2010 average.
The Lyxor Global Hedge Fund index, an investable index based on Lyxor's hedge fund platform which tracks the overall hedge fund universe, was up +1.4% in April, lifting year to date gains to 2.1%.
By Tony D’Altorio, Investment U Research Tuesday, May 10, 2011Coffee drinkers are finding it more and more expensive to get their caffeine fix.
By Greg PeelThe Dow closed down 130 points or 1.0% while the S&P lost 1.1% to 1342 and the Nasdaq fell 0.
By Greg PeelThe owner of a vast sheep station west of the Darling River in outback New South Wales would not permit prospecting on his land despite rumours of gold discoveries in other parts of the Barrier Ranges and the first strikes of silver being reported not far away.
Yesterday, S&P reported that they were downgrading the long-term outlook on U.S. debt from stable to negative.
