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Been Broker And Is NowTitle:
Guessing game begins over next Treasury chief
(Reuters) - Wanted for the Treasury Department: a new boss who can fix trillion-dollar-plus budget deficits, overhaul the tax system and spur a reluctant Europe into fixing its debt crisis.
It's a tall order, especially when the new Treasury chief also must deal with a fractious Congress - and all for a salary lower than that paid to many junior Wall Street bankers.
Economists, investors and veterans of past administrations are appraising potential successors to Treasury Secretary Timothy Geithner, either in a new Obama administration, if President Barack Obama is re-elected, or under Mitt Romney.
Geithner has made it clear that he is leaving the post he has held since January 2009 even if Obama, a Democrat, beats Romney, the presumptive Republican presidential nominee, in the November ...
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Dukascopy Morning Forex Overview : 22/05/2012
Fundamental Analysis
EUR
"Inevitably there is going to be an element of bargain hunting as investors look to top up their holdings on the basis of slightly lower prices"
- Richard Hunter, head of equities at Hargreaves Lansdown Stockbrokers
European stocks edged higher on Monday on China’s pledge to boost growth.
USD
"Equity prices have gotten oversold"
- Mark Luschini, chief investment strategist for Janney Montgomery Scott LLC
U.S. equity market edged higher on Monday on China stimulus hopes and after German and French officials said they would cooperate to keep Greece in the monetary union.
GBP
"Obviously, as the euro depreciates, the U.K. gets slightly more expensive"
- Miles Shipside, Rightmove commercial director
U.K. national house prices stagnated in March, announced the ...
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Gold rises on bargain hunting; Europe worry eases
Gold rose on Thursday, ending a three-day losing streak, as bargain hunters waded into the market after prices fell sharply this week on worries about a worsening European debt crisis.
Bullion followed U.S. equities higher as stress in Spanish debt markets eased slightly, and after Greece secured funds to repay its bondholders. Still, after three days of losses, bullion remained more than 3 percent lower this week.
Fading hopes for more U.S. monetary easing after a strong run of U.S. economic data has prompted investors to unwind bullish bets in gold. Thursday's data showed U.S. jobless claims edged down last week, offering a glimmer of hope after April's weak employment growth.
"Gold has behaved closer to risky assets rather than differentiating itself as a safe haven asset and has ...
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Gold gains as euro lifts from 3-1/2 month low
Gold rose on Thursday after touching a four-month low in the previous session, as an uptick in the euro after Spain moved to clean up its banks and Europe's bailout fund approved a key payment to Greece took some pressure off prices.
While the euro zone debt crisis simmers, moves to address some of its problems temporarily improve investor appetite for assets seen as higher risk, like stocks and commodities, as well as the single currency.
Spot gold was up 0.4 percent at $1,597.33 an ounce at 09.42 a.m. EDT, after falling as low as $1,579.30 an ounce on Wednesday, its weakest since early January. U.S. gold futures for June delivery were up $3.80 an ounce at $1,597.90.
Prices have fallen 3 percent this week as concerns over the euro zone debt crisis pressured the euro and other risk ...
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Gold steadies as euro lifts from 3-1/2 month low
(Reuters) - Gold steadied in Europe on Thursday after falling to a four-month low in the previous session, as an uptick in the euro after Spain moved to clean up its banks and Europe's bailout fund approved a key payment to Greece took some pressure off prices.
While the euro zone debt crisis is continuing to simmer, moves to address some of its problems are improving appetite for assets seen as higher risk, like stocks and commodities, as well as the single currency.
Spot gold was at $1,589.40 an ounce at 05.26 a.m. EDT against $1,590.45 late on Wednesday, when it fell as low as $1,579.30 an ounce, its weakest since early January.
Prices have fallen 3 percent this week as concerns over the euro zone debt crisis pressured the euro and other risk assets. While investors bought gold as a ...
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Gold falls on weak physical buying, soft jobs data
(Reuters) - Gold fell on Wednesday as weak physical demand and losses in equities and other commodities following disappointing U.S. private-sector jobs data extended the precious metal's decline to a second day.
The metal, which for most of the year has tracked the performance of riskier assets, came under pressure after the ADP employment report showed U.S. companies hired the fewest people in seven months in April, adding to concerns that the economy has lost some momentum.
Market watchers said the ADP data, however, was not enough to alter a view that a strong run of U.S. economic indicators have smashed hopes of further quantitative easing, or government bond purchases, by the Federal Reserve.
The gold market is looking to Friday's April nonfarm payrolls data for the latest clue ...
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Private-sector hiring slows in April, stirs concern
(Reuters) - U.S. companies hired the fewest people in seven months in April, a worrisome sign for a labor market that has struggled to gain traction and adding to concerns that the economy has lost some momentum.
The ADP National Employment Report on Wednesday showed the private sector added 119,000 jobs last month, below economists' expectations for a gain of 177,000 jobs. The March figure was also revised lower.
The report comes two days before the government's broader and much-watched monthly jobs report.
"This is an upsetting report," said David Carter, chief investment officer at Lenox Advisors in New York.
"The strength of the U.S. economic rebound is clearly still uncertain. Hopefully we don't get a third consecutive summer of weaker growth."
Recent data, including softer labor ...
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Euro posts worst month vs dollar since December
(Reuters) - The euro dropped against the dollar on Monday and notched its worst monthly performance since December, weighed down by news of Spain slipping back into recession and signs of weaker economic momentum in the United States.
Investors were also wary of buying euros before weekend elections in France and Greece and a European Central Bank meeting this week that could further knock down sentiment.
"Risk aversion was today's theme, with the economic outlook for the euro zone looking bleak," said Camilla Sutton, chief currency strategist at Scotia Capital in Toronto.
"In the U.S., overall deterioration in economic data has left the door squarely open for the Fed to add more stimulus."
Data on U.S. spending and business activity in the Midwest reinforced that view that the U.S. ...
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Euro on track for worst month vs dollar since December
(Reuters) - The euro dropped against the dollar on Monday and was on track for its worst month since December, weighed down by news of Spain slipping back into recession and signs of weaker economic momentum in the United States.
Investors were also wary of buying euros before weekend elections in France and Greece and a European Central Bank meeting this week that could further knock sentiment on the euro zone currency.
"All the news out of Europe is getting worse, although we're still in a range," said Win Thin, senior currency strategist at Brown Brothers Harriman in New York. "I think the European news and the generally weak U.S. data are sort of feeding into this risk-aversion mode."
The euro failed to gain traction despite signs the U.S. economic recovery was losing momentum, ...
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