FNArena’s Treasure Chest reports on money making ideas from stockbrokers and other experts. FX experts at ANZ Bank demystify the March means stronger JPY myth.
ANZ Banking Group suggests as more global fund managers invest in the Australian dollar the tradition for the currency of ‘up by the stairs and down by the elevator’ may be less appropriate.
Wrap of events affecting the market on Friday night and the weekend and a preview of the week ahead.
Apparently erroneous reports of a pipeline explosion in Saudi Arabia sent oil soaring, mostly killing off Wall Street’s latest attempt to rally. Dow up 23. (Accessible only for subscribers before 10:15 AEDT)
An unusually large sell order in US bonds had markets in a tail spin last night with a flow-through to gold and currencies.
In the view of CBA there are cyclical and structural factors that suggest the peak for the Japanese yen has now passed.
Bernanke’s scheduled testimony to Congress was relatively upbeat last night, and there was no mention of QE3. The Dow thus retreated 53 and gold plunged nearly US$100. (Accessible only for subscribers before 10:15 AEDT)
ATW’s Jerry Simmons reports technical break-outs for gold, crude oil and EUR/USD.
Wall Street rebounded hard from a weak opening last night but the Dow yet again failed to hold above 13,000, finishing square at 12,981.(Accessible only for subscribers before 10:15 AEDT)
Wrap of events affecting the market on Friday night and the weekend and a preview of the week ahead.