All the excitement in the previous week came to a screeching halt when the US Labour Department released the hotly watched Non Farm Payrolls figures on Friday evening.
The 120,000 jobs added in March were the lowest in five months, underscoring Fed Chairman Ben Bernanke’s concern that recent ga...
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Viewing entries tagged Mario Singh
China reported positive figures over the weekend, sending risk currencies higher.
The Purchasing Managers’ Index, compiled by China’s logistics federation and the National Bureau of Statistics, rose to a one-year high of 53.1 in March from 51 in February.
As Australia’s largest trading partne...
With the Greek story out of the way, all eyes are now focused on the recovery of the US economy.
Over the last couple of months, the US has reported consistent improvements in key economic reports such as non-farm payrolls and retail sales.
For the month of February, US employers added 227,000 ...
Over the weekend, China announced a 50 basis-point cut in the Reserve Requirement Ratio.
This is essentially the proportion of cash that banks must set aside as reserves. The change will take effect on 24 February, and the figure will fall to 20.5% from 21%.
This is the second time in three mo...
Last week, US government data beat all estimates when it reported that Non-Farm Payrolls rose by 243,000 in January. The official figures easily surpassed the 140,000 estimate by economists.
Additionally, the unemployment rate came in at 8.3%, the lowest level in nearly 3 years. This also recor...
After intense negotiations at the recent World Economic Forum in Davos, Switzerland, a deal with Greek bondholders seems imminent.
In October 2011, the bondholders agreed to take a 50% cut in the face value of their bonds, worth more than 200 billion Euros. In simple terms, this means that bond...
Last week, the Monetary Authority of Singapore said that the global economy and financial system are at their most fragile state since the 2008 crisis, with the immediate outlook characterised by a high degree of uncertainty.
Not the most encouraging words for traders and investors to hear, but ...
Last week, 2 major central banks slashed their interest rates by 25 basis points each.
The Reserve Bank of Australia was the first to act, cutting rates from 4.75% to 4.5%. This was followed 2 days later by new ECB chief, Mario Draghi, who surprised everyone by cutting rates from 1.5% to 1.25%.
...
What was original a 2 day meeting between the European finance chiefs has now been scheduled for 6 days. With a final announcement scheduled for Wednesday, the lengthy Summit shows that the people in charge are committed to hammer out a solution for the on-going debt woes in Europe.
There are es...
Finance chiefs meet in Luxembourg this week.
The good news for the markets is that finance chiefs are meeting and discussing global issues more frequently. The bad news is that no concrete solution has been hammered out yet.
In the process, markets are continuing their free-fall.
The MSCI Asi...
We are officially in a bear market.
The bloodshed in the markets last week was breath-taking, with more than US$3.4 trillion (s$4.4 trillion) erased from equity values and over US $1 trillion in the US equity market alone.
Here’s a snapshot of some of the carnage:
1) The Dow Jones Industrial A...
Close to 8 trillion US dollars has been wiped off global equity markets since the S&P downgraded the US debt less than a month ago. Suffice to say, every trader would take this as a cue that the US dollar is weakening.
In the currency maket, the scenarios are played out slightly differently...
“The trend is your friend until it bends” goes the famous trading colloquial. Every trader worth his salt knows the importance of trading with the trend.
However, there is one indomitable force in the Forex Market that can temporarily over-ride the theory of trend. That force is known as Centra...
It has been a roller-coaster ride in the Forex Markets at the start of this week.
The main news that caused the big movements in the risk currencies was the fact that Standard and Poor’s downgraded the AAA rating of US debt.
This is the first time that US assets have been downgraded since they ...
I was in Kuala Lumpur last week to speak in the International Rubber Conference 2011. Part of my message centred on how the US would increase its debt ceiling before the dreaded deadline of August 2.
The whole of last week had the world riveted on the U.S. because it seemed that U.S. policymake...
Government leaders in Europe will meet this week in Brussels to discuss the debt crisis again.
One of the key discussions would inevitably be the consequences of a Greek default. Last Friday, credit-default swaps protecting Greek debt from losses for five years came in at 2,415.07. According to ...
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