aussiebear Posted March 10, 2008 Report Share Posted March 10, 2008 http://finance.yahoo.com/intlindices Link to comment Share on other sites More sharing options...
aussiebear Posted March 10, 2008 Author Report Share Posted March 10, 2008 http://money.cnn.com/markets/morning_call/ http://www.kitco.com Energy futures Currencies/Au/Ag Link to comment Share on other sites More sharing options...
aussiebear Posted March 11, 2008 Author Report Share Posted March 11, 2008 Still barrelling downward but I have to think we get a bear market bounce soon. All Ords -1.8% mainly due to the Mining sector which is -3.7%. Energy is no.2, -1.9% followed by IT -1.8%. There are a couple of greens, Telecomms +1.3% and Utilities +0.7%. The big miners getting slugged once again: BHP -3.1% and RIO -4.1%. Golds also down with the exception of Newmont, +1.5%. Newcrest -2.8% and Lihir -1.7%. Juniors flat to down. Oils mixed: Woodside -3.3%, Santos +2.4% and Caltex -3.1%. Link to comment Share on other sites More sharing options...
aussiebear Posted March 11, 2008 Author Report Share Posted March 11, 2008 Still doing the waterfall according to the 5-day chart. All Ords finished -1.2% which was off the lows. A couple more sectors moved into the green; Financials did quite a big jump to close +2.9% followed by Telecomms, +1.8%. Miners were the hardest hit sector, -5.2% with Healthcare next, -2.8%. Miners took a pounding: BHP -4.6%, RIO -5.7% and in the golds, Newcrest -6.4% and Lihir -1%. Newmont went the other way, +1.3%. Juniors mostly down. Oils also took a hit: Woodside -2.7%, Santos -1.4% and Caltex -4.2%. Asia mostly recovered towards the end of day: India +1.2%, Nikkers +1%, Honkers +0.8% and China +0.3%. Over to UK/Europe: http://finance.yahoo.com/intlindices?e=europe Link to comment Share on other sites More sharing options...
aussiebear Posted March 11, 2008 Author Report Share Posted March 11, 2008 Australian Business Confidence Near a Six-Year Low March 11 (Bloomberg) -- Australian business confidence held close to the lowest in more than six years after the central bank raised interest rates and stock markets tumbled. The sentiment index rose two points to minus 2 in February from January, according to a National Australia Bank Ltd. survey of about 500 companies released in Melbourne today. A reading below zero shows those expecting business to deteriorate outnumber those predicting an improvement. ------------------ Australia Home-Loan Approvals Rise 2.3% on Investment March 11 (Bloomberg) -- Australia's home-loan approvals rose more than economists forecast in January as investors switched to property after the nation's stock market slumped the most in 20 years. The number of loans granted to people to build or buy homes or apartments climbed 2.3 percent from December, the Bureau of Statistics said in Sydney today. Lending to investors increased 8.3 percent, the biggest gain in seven months. Demand for home loans has also been driven by borrowers switching to fixed loans ahead of the central bank's increases in borrowing costs in February and March. Australia's median house price surged 12 percent in the last year, a separate report showed today. By contrast, the nation's benchmark index of shares has plunged by one-quarter since the start of November. ---------------- Australian February Job Advertisements Decline 2% From Record March 11 (Bloomberg) -- Australia's job-vacancy advertisements declined in February from a record, signaling higher interest rates and tumbling stock markets may cool hiring. Jobs advertised in newspapers and on the Internet fell 2 percent from the previous month to an average 268,869 a week, Australia & New Zealand Banking Group Ltd. said in Melbourne today. That followed a revised 0.8 percent gain in January. Link to comment Share on other sites More sharing options...
aussiebear Posted March 11, 2008 Author Report Share Posted March 11, 2008 China's Inflation Surges 8.7% as Food Prices Soar March 11 (Bloomberg) -- China's inflation accelerated more than estimated to the fastest in 11 years as food prices jumped, adding pressure on the central bank to raise interest rates. Consumer prices climbed 8.7 percent in February from a year earlier after gaining 7.1 percent in January, the statistics bureau said today. That was faster than the 7.9 percent median forecast of 22 economists surveyed by Bloomberg News. Food costs soared 23 percent after the worst blizzards in half a century destroyed crops and snarled transport links, causing shortages. China, the biggest contributor to global growth, needs to weigh the threat from surging prices against the risk that rate increases and weakening export demand will trigger a sharp economic slowdown. Link to comment Share on other sites More sharing options...
fxfox Posted March 11, 2008 Report Share Posted March 11, 2008 long Dow 11815 Link to comment Share on other sites More sharing options...
fxfox Posted March 11, 2008 Report Share Posted March 11, 2008 short EUR/USD 1.5455, just playing double top here, no big position. Link to comment Share on other sites More sharing options...
Jetlag Posted March 11, 2008 Report Share Posted March 11, 2008 You know the bottom isn't in when Europe is the first to come out of it. Link to comment Share on other sites More sharing options...
fxfox Posted March 11, 2008 Report Share Posted March 11, 2008 stopped out 1.5475, well, that was quick. Link to comment Share on other sites More sharing options...
fxfox Posted March 11, 2008 Report Share Posted March 11, 2008 oil above 109 Link to comment Share on other sites More sharing options...
Jetlag Posted March 11, 2008 Report Share Posted March 11, 2008 oil above 109 650285[/snapback] Wow, oil's run is flabbergasting, are we witnessing a blow off top? Fxfox, do you have any insight on the resilience of german expectations? "Investor confidence in Germany unexpectedly rose for a second month in March, adding to evidence Europe's largest economy is coping with the euro's appreciation and a U.S. slowdown." http://www.bloomberg.com/apps/news?pid=206...8bec&refer=home Link to comment Share on other sites More sharing options...
Jetlag Posted March 11, 2008 Report Share Posted March 11, 2008 The world's deflation exporter is having inflation problems. "China's inflation accelerated to the fastest pace in 11 years as the worst snowstorms in half a century disrupted food supplies, adding pressure on the central bank to raise interest rates." http://www.bloomberg.com/apps/news?pid=206...o.D4&refer=home "`If food inflation stays high for too long this will trigger non-food inflation,'' said Tao Dong, chief Asia economist at Credit Suisse Group in Hong Kong. ``If your food bill keeps going up, you ask for a raise -- then your boss raises his product prices.''" ECB staying course: "European Central Bank council member Axel Weber said he doesn't see any leeway to lower borrowing costs after oil prices jumped to a record." http://www.bloomberg.com/apps/news?pid=206...o.D4&refer=home And the Fed is expected to keep on slashing rates "Futures traders have begun pricing in the chances of a 100 basis point cut in the Fed's benchmark rate on March 18." http://www.bloomberg.com/apps/news?pid=new...id=a2NxzAHKG8m0 Link to comment Share on other sites More sharing options...
fxfox Posted March 11, 2008 Report Share Posted March 11, 2008 Wow, oil's run is flabbergasting, are we witnessing a blow off top? Fxfox, do you have any insight on the resilience of german expectations? "Investor confidence in Germany unexpectedly rose for a second month in March, adding to evidence Europe's largest economy is coping with the euro's appreciation and a U.S. slowdown." http://www.bloomberg.com/apps/news?pid=206...8bec&refer=home 650286[/snapback] not really, but maybe it is because the survey was between feb25 and march10, that was partly during a time when DAX almost did break the very important 7060 to the upside. Also dont forget that the ZEW is only taken among "Investors" and "Institutionals", means, the dont ask CFO's or something from industrial firms or so. Link to comment Share on other sites More sharing options...
roxy Posted March 11, 2008 Report Share Posted March 11, 2008 The world's deflation exporter is having inflation problems. "China's inflation accelerated to the fastest pace in 11 years as the worst snowstorms in half a century disrupted food supplies, adding pressure on the central bank to raise interest rates." http://www.bloomberg.com/apps/news?pid=206...o.D4&refer=home "`If food inflation stays high for too long this will trigger non-food inflation,'' said Tao Dong, chief Asia economist at Credit Suisse Group in Hong Kong. ``If your food bill keeps going up, you ask for a raise -- then your boss raises his product prices.''" ECB staying course: "European Central Bank council member Axel Weber said he doesn't see any leeway to lower borrowing costs after oil prices jumped to a record." http://www.bloomberg.com/apps/news?pid=206...o.D4&refer=home And the Fed is expected to keep on slashing rates "Futures traders have begun pricing in the chances of a 100 basis point cut in the Fed's benchmark rate on March 18." http://www.bloomberg.com/apps/news?pid=new...id=a2NxzAHKG8m0 650287[/snapback] The Europe is doing a big experiment by not cutting rates. Very interesting to see how Feds cuts and ECB no-cuts will result. It's a pretty good scientific experiment. Two white rats, one got the shot another didn't Link to comment Share on other sites More sharing options...
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