Currencies
Tullow Oil confident about prospects after ‘excellent year’
…Production at the headline Jubilee asset has averaged around 67,000 barrels of oil per day (bopd) so far, this year; with total production (2011 marked the first full year of production) to date now over 33 million barrels. Tullow’s chief executive, Aidan…
Building crisis hits Gold Coast jobs
…than half the construction businesses on the Gold Coast had to cut staff in the first three months of the year. The city’s building industry is the worst performing in the state, with the effects of the financial crisis still being felt. Tradesmen continue…
The Strong Dollar Leads to a Fall in Commodity Prices
…who enter here.” Traditional diversification currencies, like the Australian (FXA) and Canadian dollars (FXC) are now biting the hands that fed them, dragged down by their export commodities’ pitiful performance. Hard as it is to imagine, the Aussie has been…
Why and how Greece must exit the euro
…and curb tax revenues – and to create jobs and finance social programs, many eurozone governments borrowed too much. After the 2008 financial crisis, European banks and bondholders calculated these economies would never pay down their debts and began demanding…
Cameron to Say He’ll Stick to Austerity, Sees Euro Risk
…nation may leave the euro area. “Either Europe has a committed, stable, successful euro zone with an effective firewall, well capitalized and regulated banks, a system of fiscal burden sharing, and supportive monetary policy, or we are in unchartered territory…
India Decides to Invest in the Oil Potential of the Falklands
…trade is another matter – in 2011, bilateral Indian-British trade exceeded $21 billion, more than ten times India’s trade with Argentina. As Argentina considers this latest affront to its sovereignty, it would seem that Delhi’s markets have apparently spoken….
How a Greek euro exit could affect you
…Greece, fresh elections have been called as debate rages about its financial position. European leaders say they will cut off funding for the country if it rejects the bailout agreed of March. This would mean effective bankruptcy for Greece and a likely exit…
Cameron looks to shield Britain from euro break-up
…The Bank of England said on Wednesday it had been planning for the possibility of a euro zone break-up for some time, with a focus on what banks should do to protect themselves. Cameron and his finance minister George Osborne, who is slashing government spending…
IMF’s Lagarde Says Greek Euro Exit Would Be Expensive
…“No country is immune from hardship happening anywhere,” Lagarde said. “Within the euro zone, a currency union, what happens to any member is going to affect others.” Her comments echo concern by World Bank President Robert Zoellick that a Greek exit from…
Wheat soars on dry weather; crude and gold sink
…tend to fall when the dollar rises. Crude is at the lowest level since November, and gold is the lowest since December. In wheat trading, the market got a rare bit of bullish news.
Five-month low for NZ dollar
…New Zealand dollar fell to a five-month low after the European Central Bank said it will temporarily stop lending to Greece’s banks, damping investors’ appetite for risk-sensitive assets. The New Zealand dollar fell as low as 76.20 US cents in Northern Hemisphere…
Aust dollar lifts slightly despite Greek woes
…the release of positive American housing data. At 0700 AEST on Thursday the Australian dollar was trading at 99.14 US cents, up from 98.93 US cents on Wednesday afternoon. Bank of New Zealand currency strategist Mike Jones said the Australian dollar rose following…
2 Dirt Cheap Oil Stocks Worth Buying Near Book Value Now
…in terms of valuation. Valero is also piquing the interest of world famous oil investor T. Boone Pickens.
Euro chaos: The reason for strategic allocation
…over again.” Investors want to know whether this is an isolated crisis contained to Europe or whether it could spread globally. That stock markets around the world have plunged may be due to mass profit-taking after a furious market rally from the market bottom…
Investors flee the euro for the dollar
…dollar for eight consecutive sessions as riskier positions were being unwound, putting pressure on dollar-priced oil and other commodities. “On the flip side, we are seeing mounting concerns about a global slowdown adding to the pervasive gloom related to…
Oil Falls, Wheat and Corn Gain: Commodities at Close
…UBS Bloomberg CMCI index of 26 raw materials was up 0.1 percent to 1,494.425. Oil fell to the lowest level in more than six months as U.S. supplies grew to the most since 1990 and talks to form a coalition government in Greece collapsed, raising concern that…
Is Gold’s Plunge Within Hours of Ending?
…solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of…
Euro hits four-month low against dollar
…August 2010. It also fell to 101.904 yen before recovering to trade just above $1.27 against the dollar and above 102 yen. Traders cited buying by hedge funds and institutional investors, but they said the broader trend for euro weakness remained intact. “Expecting…
Special edition of gold coins boost sales
…E Mathai, CEO of Muthoot Precious Metals Corporation, a subsidiary of Muthoot Finance, the largest gold loan company with a total income of over Rs 4,500 crore. The company’s gold coin sales have quadrupled to 2 tonne since it started releasing coins with…
Greek turmoil spreads pessimism across stock markets; gold, oil, euro all hit multi-month lows
…barrel. It is down nearly 13 percent since the beginning of May. The prices of commodities that are traded in dollars, like oil and gold, tend to fall when the dollar rises.
