PFP Wealth Management’s Tim Price reviews the book ‘Extreme Money – Masters of the Universe and the Cult of Risk’, which suggests the world needs reduce debt and shrink the financial part of the economy.
Wall Street finished down 5.7% for the month although the Dow has closed in the black for 2011. Dow up 53 last night.
ANZ remains bearish on the US dollar, seeing scope for not only the euro but for the Australian and New Zealand dollars to gain in coming months.
Market analysts at FXCM see further upside for AUD/USD with the focus on US107.30c and US107.85c shorter-term.
The FOMC is split, US confidence has hit a two year low, and Wall Street is wondering what to do next. Dow up 20.
A merger of two Greek banks and positive US economic data had Wall Street on the tear again last night. Dow up 254.
Wrap of events affecting the market on Friday night and the weekend and a preview of the week ahead.
QE shmooey. Europe has not gone away. Dow down 170.
Recent strength on Wall Street may well reflect expectations of a QE3 announcement on Friday. Analysts expect markets will be disappointed.
ATW’s Jerry Simmons suggests investors should watch AUD/USD and copper closely to assess the next move for equities, while gold is in a bubble, ready to pop?