What to do with gold
July 1, 2009 | Comments Off
Just as the stock market has been stuck in the mid-8,000 range over the past few weeks, the gold spot rate has been hanging around the $930 per ounce price point for a while. Despite a couple modest swings, gold has traded in a very narrow range between $920 and $940 since it dropped significantly from around $955 on June 11th to below $930 on June 15th. Read more
Retail on the rebound
June 26, 2009 | Comments Off
More and more sectors are lending evidence to support the call by Fed Chief Ben Bernanke and others of an economic recovery for the last half or 2009. On Thursday (June 25), it was the retail sector’s chance to shine. Despite a surprisingly lower jobless claims report, positive earnings reports and optimism from retailers helped drive stocks higher by two per cent, ending a four-day slide in equities. Read more
Oil back below $70
June 24, 2009 | Comments Off
Oil peaked above $73 per barrel last week, but prices have dropped steadily, with a strong fall below $67 Tuesday (June 23). Expiring crude for July delivery expired on Monday, with speculators pushing rates down $2.62, to settle at $66.93. US crude for August delivery also quickly dipped to the $67 per barrel level. Read more
US dollar struggles to gain ground on yen
June 19, 2009 | Comments Off
As part of its overall weakness, the US dollar is having a difficult time piercing the 100 yen level. After topping the century mark in early April, and then again in early may, the greenback has steadily fallen back from the level. In mid-May, one dollar was worth 94 yen. After a modest bounce, in the last couple days, the value of a dollar is currently (Jun 19) at 96.57 yen. Read more
Euro fails above $1.40
June 17, 2009 | Comments Off
After a roughly two week stint flirting mostly above the $1.40 level, the Euro has fallen back to a current rate at $1.3834 (June 16). The Euro has steadily dropped from a peak over $1.43 on June 2nd. It has operated on a downward progression from the $1.40 level for the last three days. Read more
Oil prices at eight month high
June 12, 2009 | Comments Off
July crude oil traded up $1.35 on Thursday (June 11) to settle at $72.68 per barrel, after reaching as high as $73.23 during the New York trading day. The leading catalyst for the jump was the latest jobless claims report that shows that first time jobless claims dropped, a sign that perhaps the worst of the unemployment conditions has been seen. Read more
Mortgages not so cheap anymore
June 10, 2009 | Comments Off
Late last year, when mortgage rates dipped to the low five per cent level, it seemed like a once in a lifetime opportunity for buyers to get in on a great home loan discount. Today’s (June 9) 5.56% national average interest rate on a 30-year fixed loan (according to bankrate.com) is likely disappointing to people shopping for a home, or those who missed the boat on a finance at less than five per cent. Read more
Bank stocks in wait-and-see mode
June 5, 2009 | Comments Off
Financial company stocks have traded in a very narrow range over the last several weeks. Following the massive sell-off that drove many stocks to all-time low prices, shares of financials led the way for the two month stock rally that began after the Dow dropped to nearly 6,500. Read more
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- What to do with gold
- Retail on the rebound
- Oil back below $70
- US dollar struggles to gain ground on yen
- Euro fails above $1.40
- Oil prices at eight month high
- Mortgages not so cheap anymore
- Bank stocks in wait-and-see mode