Yesterday, trading in the EUR/GBP pair was confined to a very tight sideways trading range in the low 0.8000 area. This relative calm occurred even as there were quite some headlines both from EU and the UK. The euro was under slight pressure at the start of trading in Europe as investors were disappointed on […]
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EU summits or the new mini-summits are occurring much more frequently since the euro zone crisis developed, as its finance ministers and leaders struggle to manage rapidly moving events, including those on financial markets. At times it appears the ministers have lost control or are only capable of reacting defensively to them. This week’s mini-summit
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Gold has dropped for a third day as worries about the fallout from a potential Greek exit of the euro zone pushed investors to pile into the US dollar. With little action announced from the EU Summit in Brussels yesterday, investor’s worries continue to escalate. This week the markets have had warning from the OECD,
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During the early Asian session, crude oil futures prices are trading above $90.45/bbl with a gain of more than 40 cents on the Globex electronic platform. This may be a slight pull back on expectation of China will accelerate efforts to spur growth after the manufacturing index fell below 49 in May. On the other
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US markets displayed a notable move to the downside in morning trading on Wednesday due to continued worries about the financial situation in Europe, which came as European leaders held a closely watched summit in Brussels. However, stocks staged a significant recovery over the latter part of the trading day which was attributed to reports
Market Review May 24 2012 Read More »
On Tuesday, sterling traders initially didn’t really know which way to go. Sentiment on the single currency remained fragile, but the news flow from the UK was also not really supportive for sterling. The EUR/GBP cross rate hovered in a tight range roughly between 0.8100 and 0.8080, early in Europe. There was some volatility after
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The leaders of the 27 countries that make up the European Union are to meet in Brussels Wednesday to try and find a way to keep the debt crisis in Europe from spiralling out of control and promote jobs and growth. The original meeting was supposed to be informal, but with pressure building in the
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Concerns over Greece’s exit from the Euro Zone have come to the surface again and this has deteriorated risk appetite among investors. Although the Group of Eight (G8) leaders affirmed Greece’s status in the Euro Zone, former Greek Prime Minister Lucas Papademos id that the country is preparing to leave the 17-nation Euro Zone. Even
Market Review May 23 2012 Read More »
Singapore’s stock exchange approved Formula One’s plan to raise as much as USD3 bn in an initial public offering in the city-state. The people asked not to be identified because the information is private. Loh Wei Ling. Formula One’s IPO may be Singapore’s largest since February 2011, according to data compiled by Bloomberg, helping it
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Gold witnessed a mixed movement in yesterday’s trade and eventually closed in the red. Prices on the Comex June contract slipped 0.2 percent to $1588/oz despite dollar weakness and increased risk appetite. Movement in gold on Monday shows that investors remain cautious over prospects of sharp increase in prices in the near-term. With prices closing
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