After seven days of solid gains Wall Street saw some profit-taking last night as the S&P 500 ticked lower. The Dow nevertheless managed a 6 point gain.
Market analysts at FXCM continue to view the Australian dollar as a strong proxy for gold prices.
China raised rates again last night but an increasingly insular Wall Street was more excited about burger sales. Dow up 71.
M&A drove Wall Street higher yet again last night as other markets took a breather. Dow up 69. (Locked for subscribers until 10:00 AEDST)
Market analysts at FXCM suggest while the US dollar is showing some signs of recovery there is still a lack of fundamental support to push the currency higher.
Wrap of events affecting the market on Friday night and the weekend and a preview of the week ahead.
Market analysts at FXCM suggest the Australian dollar has traced out a near-term top against the US dollar, while the euro appears to have broken out of its recent trading channel.
Ben Bernanke’s “meet the press” turned a wary Wall Street around last night to a modest gain. Dow up 20.
Previously peaceful protests in Egypt turned into clashes last night reflecting anger over Mubarak’s failure to step down. Global financial markets held their breath. (Locked for subscribers until 10:00 AEDST)
Seasonal trends for February show a quieter period for equities in general but weaker returns on the Australian market, while Barclays Capital notes the US dollar typically struggles and aluminium gains.