Swen Lorenz
Morning Report courtesy of Spreadex
Finally after 16 days of shutdown congress finally passed legislation to raise the debt ceiling until 2014, allowing the US government to re-open and delaying the immediate fear of default for the time being; budget negotiations have been pushed back to December 13th and government spending until January 15th 2014. Last night’s vote passed by…
OVERNIGHT MARKETS ROUND UP – 17/10/13
Finally after 16 days of shutdown congress finally passed legislation to raise the debt ceiling until 2014, allowing the US government to re-open and delaying the immediate fear of default for the time being; budget negotiations have been pushed back to December 13th and government spending until January 15th 2014. Last night’s vote passed by wide margins…
Why I See an Upcoming Trade Opportunity for Gold
By George Leong, B.Comm. If you are a gold bug, you probably won’t like what I have to say in this column, but just give me a chance to explain why I simply feel the time for the shiny yellow metal has come and gone for now. Yes, the yellow precious metal could inevitably head back…
Zak Mir on FTSE100 miners; RIO, BLT, AAL
By Zak Mir. FTSE 100 Miners: Rio Tinto (RIO): Surprise strength for the big FTSE 100 miners given the weakness in precious metals Island bottom and unfilled gap to the upside for Rio Tinto through 200 day moving average Extra bullish given gap through falling 200 day line Implied target towards 2013 price channel top…
10% tax on ALL capital proposed by the IMF
By Filipe R. Costa Six months after the European Union and IMF raided Cypriot bank deposits, global central planners now have their eyes on fixed on the rest of Europe’s savings. March’s “Cypriot Experiment” shocked asset owners around the world for three main reasons. First a tax on bank saving represented a second tax. After…
Risers and fallers courtesy of Spreadex
Risers: IMI PLC, Topping the list of FTSE 100 risers, Shares in IMI have surged after the international engineering company agreed to sell its beverage dispenser and merchandising businesses to Berkshire Hathaway Inc.’s Marmon Group for about $1.1 billion in cash to focus on industrial valves and fluid control systems. Additionally, IMI have confirmed that Q3…
Dominic Picarda’s Daily Pick
By Dominic Picarda. The standout performer among the markets covered here right now is clearly the DAX. Despite the continuing uncertainty in Washington, the German index has spurted higher overnight, having held up well yesterday. Especially heartening is the current positioning of retail traders. Something like 83% of them are short of this index, according…
Morning Report courtesy of Spreadex
After another day of vigorous debate between the two main political parties in the U.S, the top Democrat and Republican in the U.S. Senate were said to be close to agreeing on a proposal to raise the debt limit. It has been suggested that a deal could be struck sometime today, with borrowing authority set…
Hedge your bets; 48 hours from an American default!
By Ben Turney. If you are not watching this story, it’s time to switch on. The deficit ceiling debacle is back in full force. News crossed the wires, about an hour ago, that the Republican leaders in Congress have had to admit defeat in their efforts to provide an alternative plan to the bipartisan agreement,…