Tim Price of PFP Wealth Management sees Cyprus as yet another symptom of the ‘long emergency’ that continues to suffocate Europe.
The shadow of Cyprus and some mixed US economic data could not stop a return to strength on Wall Street. Dow up 111. (Accessible only for subscribers before 10:15 AEDST)
Is Cyprus a template for other bail-outs? Maybe yes, maybe no, maybe European politicians have stuffed it up again. Dow down 64. (Accessible only for subscribers before 10:15 AEDST)
CIBC Markets believes pricing out further cuts to Australia’s cash rate is premature and favours a weaker currency. Pressure is also expected to increase on the US dollar and euro.
Wrap of events affecting the market on Friday night and the weekend and a preview of the week ahead.
Analysts at Forex.com predict that the US dollar will put on a strong show this quarter now that the US recovery is seen to be gaining some traction.
Weak European data and the oversized shadow cast by Cyprus outweighed strong US and Chinese data last night. Dow down 90. (Accessible only for subscribers before 10:15 AEDST)
Wall Street shrugged off Cyprus and took heart in an unchanged Fed. Dow up 55. (Accessible only for subscribers before 10:15 AEDST)
A rejection of the bail-out package by the Cypriote parliament has sent the Eurozone ministers back to the drawing board. Dow up 3 points. (Accessible only for subscribers before 10:15 AEDST)
The mounting opinion is that the eurozone ministers will back down on the extremes of their bail-out package for Cyprus. Dow down 62. (Accessible only for subscribers before 10:15 AEDST)