The ’09 Gold Rush Continues

Global Equities Market futures are pointing slightly higher for Wednesday’s open. The DJIA finished lower after a mixed day on Wall Street, losing 17.24 points to close at 10,433.71.

The US Dollar Slips To 14-Year Low Against The Japanese Yen

The once mighty Greenback has dropped to its lowest value against the Japanese currency since July 1995.

High Beta Currencies Follow Equity Markets Lower

Despite a meager data schedule, the FX markets have experienced relatively large moves over the course of the day as the unwind of positions ahead of year end were exaggerated by thin liquidity conditions. Equities are sharply lower across Europe and Latin America, and even gold has sold-off markedly from…

US Market Update: Dubai Shaking Confidence across the Persian Gulf

Risk aversion became the holiday’s main dish as lingering concerns over the debt issues that surround Dubai World and Dubai itself. Dubai was shaking confidence across the Persian Gulf after its proposal to delay $59B debt payments risked triggering the biggest sovereign default since Argentina in 2001. The heavy tone…

Euroland: No Comfort for the ECB

M3 declined more than consensus expected. This was not so surprising though as the decline is due to base effects. Monthly developments in M3 have been pretty much flat since October last year with outstanding amounts staying in the EUR9.380-9.430bn range. In October, M3 fell 0.14% from EUR9.414bn to EUR9.4014bn.