companies feel rise of franc focus on specialty goods limits impact, but safe-haven role is costly
The European sovereign debt crisis roiling the global markets and the downgrade of the U.S. debt rating, combined with franc-denominated debts of Eastern European borrowers, have fuelled a huge demand for Swiss francs. By some measures, the currency is now as desired by investors as gold.
Month: August 2011
Oil prices, global stocks fall; gold rises
Concerns about the debt crisis have weighed on oil markets in recent weeks, adding to worries about weak US economic data that could hit fuel demand.
“It doesn’t look like the two biggest items were seriously discussed today — the potential for a euro bond and the size of the stabilization/bailout fund,” said Edward Meir, senior commodity analyst for MF Global in New York.
Crude prices dropped before the meeting as data showed sluggish German growth hobbled the euro zone, dragging US stocks. The euro slid against the dollar.
NFA brokers – NFA registered Forex brokers
A full list of Forex brokers, who are registered with NFA. National Futures Association (NFA) is the industry-wide self-regulatory organization for the U.S. futures industry.
Gold Hits $1,800
As gold topped a record $1800 on Wednesday, traders that are long gold [GCCV1 1751.50 -32.80 (-1.84%) ] began to get nervous that they were behind a trade that may not have any potential new buyers left. After all, a trade only keeps working if you can find someone else who wants that particularly security or commodity at a higher price.
$2.8 trillion lost in market turmoil so far
If stock market gyrations make you queasy, you may not want to read on.
The Wilshire 5000 Total Market Index has lost $2.8 trillion in value since the stock market slide began on July 22. Some $600 billion of that went up in smoke on Wednesday, when the index and the Dow Jones Industrial Average both dropped about 520 points.
Not surprisingly, the stock market’s wild swings in recent weeks have sent investors and retirees scurrying to their financial advisors for some hand holding. The main message they’re hearing: Stay put.
“Try to take a step back from the day-to-day,” said Chris Philips, senior investment analyst with Vanguard. “Reacting to these ups and downs and sideways swings can actually do more harm than good for most investors.”