Philip Chua Business Blog

Posts Tagged ‘action’

Consolidation to corrective price action dominated most of GBP’s activities the past week pushing it a higher close at 1.5697. This is coming on the back of its decline off its 2009 high at 1.7041. While that continues to be seen, we expect its resistance zone between the 1.5830 and…

Currency dealers watched US yields this week for clues on the direction FX trading would take in the first months of the new year. The dollar price action mirrored yields in the US two-year note all week: yields in the note climbed to test 1.18% early on, aiding the dollar,…

PENNY stocks were all the rage yesterday as trading for 2010 first got off to a slow start but picked up as the day wore on. The Straits Times Index, as always, depended on Hong Kong’s Hang Seng for direction, thus closing a nett 3.07 points weaker at 2,894.55 when the Hang Seng also closed marginally softer.

But it was in penny stocks that the real action was to be found and this was amply refl… more

RETAIL investors made up for time lost over the holidays by rushing into penny stocks to give the new year an octane- fuelled start.
Blue chips largely missed out on the action after having enjoyed a final sprint last Thursday to finish last year on a high note.
‘Most of my clients are very bullish. They are confident that the economy is back on track to growth,’ said UOB Kay Hian remisier Charlie… more

Undeniably, the Fed’s decisive action and leadership has been instrumental in bringing the U.S. – and by extension – other economies around the world back from the brink. While actual interest-rate slashing and the unveiling of quantitative easing programs were the story of 2008, market focus in 2009 was more…

In currencies, the greenback has gained steadily this week, building on newly-discovered momentum in thinning year-end liquidity conditions, aided by technical factors and the ratings dramas in Europe. Dealers have been watching higher Treasury yields for clues on the next leg of the dollar’s price action. One European dealer warned…

President Obama promised at jobs forum on Thursday to take “every responsible step to accelerate job creation,” including some ideas he said could be put into action quickly.

Barack Obama – Republican Party – United States – Society and Culture – Politics

FINANCE Minister Tharman Shanmugaratnam yesterday said the government will use every tool at its disposal ‘in a calibrated fashion’ to prevent boom and bust in the property market. One day after the Monetary Authority of Singapore served notice of further action to cool the housing market if needed, in the face of growing speculation risks, Mr Tharman spoke about the need to manage the property cy… more

In FX, the greenback tried its best to break key levels during the early part of the trading week and ditch the carry-trade funding reputation it has acquired since spring, but EUR/USD managed to hold the key 1.4630 March uptrend line. The dollar’s price action sustained its inverse relationship to…

AP – The U.S. Department of Housing and Urban Development is taking action against a reverse mortgage lender in Hawaii.