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June 14, 2007
by Elaine Frei
The yen and the Swiss franc, the two currencies most popularly sold to finance carry trades, were both weaker on Thursday.
At mid-session in New York, the yen had dropped 0.1 percent to ¥242.10 versus sterling, while it was 0.3 percent lower against both the euro and the US dollar. The yen traded at ¥163.70 in relation to the euro ...
June 13, 2007
by Elaine Frei
At early afternoon on Wall Street on Wednesday, equities saw gains as bond yields dropped a bit, helping sectors that are sensitive to interest rates. Also helping was a report that retail sales were up 1.4 percent in May. The Dow Jones Industrial Average had added 0.29 percent to 13,333.43, while the Nasdaq Composite gained 0.37 percent to ...
by Elaine Frei
Metals prices were lower on Wednesday. By early afternoon trade in New York, August gold had dropped 40 cents to $652.70 per troy ounce. In other precious metals, July silver was 3 cents lower to $3.06 per troy ounce and platinum had dropped $12.90 to $1,283.50 per troy ounce.
Among base metals, both nickel and aluminium remained unchanged on ...
by Elaine Frei
Government bond yields in the UK and the Eurzone reached multi-year highs in afternoon trade in London on Wednesday. The ten-year gilt in the UK was 8.4 basis points higher to 5.514 percent, a nine-year high. Meanwhile, the ten-year Bund added 6.3 basis points to a yield of 4.676 percent, the highest yield on the ...
by Elaine Frei
In global currencies markets on Wednesday, sterling weakened on new figures showing that growth in earnings in the UK is lagging behind fairly high inflation levels there. The pound lost 0.1 percent against both the greenback and the euro, to $1.9730 and £0.6740 respectively. However, sterling did manage an 0.5 percent advance against the yen, to ¥241.32 as ...
June 12, 2007
by Elaine Frei
After a day of gains on Monday that followed a week of declines, European equities markets were down again on Tuesday. The FTSE Eurofirst 300 was 0.44 percent lower to 1,575.42. Xetra Dax was down 0.36 percent to 7,678.26 in Frankfurt, while the Paris CAC-40 dropped 0.71 percent to 5,898.16 and the IBEX fell ...
by Elaine Frei
Crude oil prices dropped on Tuesday even though analysts predicted that prices will spike again later in the year as supplies tighten. Analysts at Merrill Lynch (NYSE: MER; TYO: 8675) said that prices could go as high as $80 per barrel later this year if OPEC doesn’t raise its production by 350,000 barrels of crude ...
by Elaine Frei
The US dollar was stronger versus the euro on Tuesday, but held steady against the yen, helped by bond yields that were higher on the session. The greenback was at ¥121.70 versus the yen, while it gained 0.2 percent to $1.3325 against the euro.
Sterling made gains after the Bank of England’s governor warned that the risk of inflation is still high and ...
June 11, 2007
by Elaine Frei
Europe’s markets were higher on Monday after five session that saw nearly no gains at all last week. The FTSE Eurofirst 300 added 0.81 percent to 1,580.38. Among continental markets the IBEX was up 0.84 percent to 14,940.6 in Madrid, while the Paris CAC-40 gained 0.97 percent to 5,940.09 and the Xetra Dax in Frankfurt was 1.52 percent ...
by Elaine Frei
July contracts for Brent crude added 49 cents to $69.09 per barrel on the Intercontinental Exchange in London on Monday. Meanwhile, West Texas Intermediate crude for July delivery was up 88 cents to $65.64 per barrel on the New York Mercantile Exchange. Nymex July gasoline was 3.09 cents higher to $2.158 per gallon and heating oil added 2.12 cents to ...
by Elaine Frei
The US dollar strengthened on Monday. By midday in New York, the greenback had added 0.1 percent against the pound to $1.9670 and was 0.2 percent stronger in relation to the euro, to $1.3345. The greenback was 0.1 higher percent versus the yen, to ¥121.76
Several other currencies, including the Australian dollar, the euro, and sterling, dropped against ...
by Elaine Frei
Prices on US Treasury bonds fell again on Monday as a Federal Reserve official made comments indicating that there are not any interest rate cuts forthcoming from the Fed anytime soon. Sandra Pianalto, President of the Cleveland Federal Reserve, told a Dublin conference that inflation is still a risk and that the priority of the Fed is ...
June 8, 2007
by Elaine Frei
European equities markets were mostly lower on Friday, with the FTSE Eurofirst 300 down 0.14 percent on the session to 1,566.82. While the IBEX added 0.62 percent to 14,816.5 in Madrid, the Paris CAC-40 was 0.12 percent lower to 5,883.29 and the Dax dropped 0.37 percent to 7,590.5 in Frankfurt. Banks and the semiconductors sector were higher on the ...
by Elaine Frei
July contracts for Brent crude was down $2.55 to $68.67 per barrel on the Intercontinental Exchange in London, while by mid-afternoon, West Texas Intermediate for July delivery dropped $2.01 to $64.92 per barrel on the New York Mercantile Exchange. July Nymex gasoline and heating oil each dropped 7 cents, to $2.12 per gallon and $1.90 per gallon respectively, while natural gas ...
by Elaine Frei
Both the Australian and New Zealand dollars gained on the yen during the week. The Aussie added 1 percent to ¥102.50 in relation to the Japanese currency, while the kiwi gained 0.8 percent to ¥91.55. Both currencies were also higher versus the US dollar after the Reserve Bank of New Zealand raised interest rates there to 8 percent and ...
June 7, 2007
by Elaine Frei
Wall Street was down by midday on Thursday after yields on US Treasury bonds went above 5 percent and sales reports for May from retailers were mixed. The Dow Jones Industrial Average was 0.45 percent lower to 13,404.64 after losing early advances, while the Nasdaq Composite was 0.63 percent lower to 2,570.97 and the S&P 500 dropped 0.69 percent to ...
by Elaine Frei
Most metals prices retreated on Thursday. Only copper was higher among base metals, adding 0.1 percent to $7,430 per tonne on declines in London Metal Exchange stockpiles. Elsewhere, zinc prices were 1 percent lower to $3,640 per tonne, while nickel dropped 4.6 percent to $43,440 per tonne on LME lending rules changes that lower the limit at which ...
by Elaine Frei
Yields on US Treasury bonds went above 5 percent on Thursday for the first time since August 2006 as investors sold off government paper amid worries about interest rates. Trade was extremely heavy, and by early afternoon in New York, the two-year bond had added 8 basis points to a yield of 5.02 percent, while ten-year paper had advanced ...
by Elaine Frei
The US dollar strengthened on Thursday. The greenback added 0.6 percent to SFr1.2235 versus the Swiss franc, while it added 0.3 percent against both the euro and the yen, standing at $1.3465 in relation to the euro and at ¥121.40 versus the yen at midday in New York.
The New Zealand dollar was stronger after the Reserve Bank of ...
by Brian Turner
Investment bankers Morgan Stanley have warned their model predicts a significant "correction" in the equities market, resulting in an estimated 1000 points being wiped out from the FTSE over the next six months.
According to Teun Draaisma, head of the European equities division of Morgan Stanley, excessive liquidity in the equities market means investments are now vulnerable to correction in the order ...
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