Market update by UWCFX
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  1. #1

    Default Market update by UWCFX

    Bloody markets in dramatic sell-off.

    Markets in the United States, Europe, Australia and Asia continued to sell off experiencing the bloodiest days since the Lehman Brother bankruptcy and market recession in the autumn 2008.

    Investors seem completely to have lost confidence in politicians and optimistic forecasts on growth in the US market.
    Fear that the debt crisis in the periphery of Europe will hit Italy and Spain and the whole EURO-zone add to the dull mood and investors sell off of stocks.

    National banks continue to protect their currencies, but the effect of Japanese Central Bank interventions on Wednesday, had a short-lived effect and was wiped out over night with stronger YEN against US.

    Gold continues to be the bright spot reaching peak levels of 1680 before yesterday’s onslaught. Gold fell to 1640, has recovered and is at present trading on 1656.

    Oil also fell dramatically on stagnating growth fears. Oil is now stabilizing on Brent USD 107.

    Analysts continue to differ on the markets are in for a double dip recession or whether the sell-off offer a buying opportunity.
    Treasury bills and private bonds are markedly up over the last couple of days.

  2. #2

    Default Market update by UWCFX - 08.08.2011

    Run, walk or BUY?
    Market panic continues.

    Panic selling continued in the Asian market this morning after last week’s onslaught. Relatively good
    employment figures in the US Friday afternoon created a short relief when the credit rating Standard
    and Poor after the closure downgraded the world’s largest economy to AA.

    This has sent new shivers into world markets. Fears of Italian and Spanish default are raising new serious questions
    On the future of the EURO-zone. Investors are running from stocks and weaker currencies into Gold, Swiss Franc and YEN and surprisingly enough US treasury Bills.

    The world market is without doubt facing its gravest challenge since the Lehman Brother crisis in 2008 G-7
    and European Central Bank (ECB) assurances over the week-end has done nothing to calm over nervous,
    volatile and shaky markets.

    Gold is again the big winner reaching 1700 during the night with Silver as well jumping 5 % to 40,20.
    Money continues to flow into Swiss Franc, YEN, treasury bills and bonds. The Chinese Huan has appreciated 0,2 %
    against the USD as the Chinese stock markets are holding off better than other Asian markets.

    USD is the big looser.

    Be prepared for a new stormy and volatile week giving FX traders unexpected opportunities.

  3. #3



    Panic sell continues
    GOLD reaches 1775

    Black Monday seems to be followed by a bleaker Tuesday. Wall Street saw one of its worst falls when world markets
    continued its free fall. Investors desperately leaving stocks looking for other outlets. Treasuries soared while GOLD broke new records reaching 1785 in Asian trade.

    President Barack Obamas assurances that US was still a triple rated country which honoured its obligations did not calm markets. While the President spoke, Dow Jones, NASDAQ and SAP fall to new lows and Gold soared, demonstrating the worst political confidence crisis since autumn of 2008. No big expectations for Fed Chief Bernanke’s speech today.

    Fundamental facts, not words and political oratory are needed in order to convince world’s investors that US is not in for a second dip recession. European stock indices today are pointing steeply down reminding investors that also the Euro-zone is in a mess. China’s inflation figures neither gave any comfort illustrating that this is a worldwide crisis. Yesterdays 7,83 % stock market loss yesterday just added to the fact that this a worldwide financial crisis might be deeper than experienced in 2008.

    Yen and Swiss francs are still favoured currencies. Currencies in commodity and oil producing countries under pressure. with Australian dollars in free fall. Downward trend expected for Rubles and Norwegian krones (NOK). Oil has fallen 20 USD a barrel in one week. Also agricultural commodities like corn and wheat are falling.

  4. #4



    DOW jumps 4 %
    on FED statement

    DOW Jones bounced back at the end of yesterday’s session and added 3,98 % after more closely digesting the American Federal
    Central Bank, FED, statement to leave interest rate unchanged to 2013 in light of continued sluggish economic growth.

    DOW initially fall into negative territory, but FED made the trick that President Obama’s statement on Monday did not obtain.
    It calmed nervous markets and regained some confidence after the last ten days turmoil.

    All the US indices went strongly up with Nasdaq in the driver’s seat with a 5,29 % jump. The Asian markets followed suit and European futures are pointing up. China contributed to a more optimistic sentiment by presenting a monthly high record trade surplus beating by far expert’s predictions.

    Commodity markets stabilized. Gold is steady around 1750. Oil stronger on better market sentiments trading at 104,47. 5 % up from yesterday’s inter day bottom on 99,50. FED’s statement was no favor to the Dollar which is falling against most currencies. YEN and Swiss franc still investors favored currencies. USD – EURO is trading at 1.4348.

    Markets have been given sigh of relief. But sluggish economic growth and sovereign debt worries shall soon enough be back at the top of the economic agenda.

  5. #5


    Market update - 11.08.2011

    Stocks back in red
    Gold passes 1800

    The relief rally in stocks lasted some few hours before markets were back in red.

    Yesterday good night sessions in Asia was followed by opening optimism in Europe.

    But after some few hours trading the European exchanges were back in deep red.
    Speculation on possible downgrading this time of France’s credit rating dominated
    along with renewed credit fears and worries of slower economic growth.

    Wall Street saw a new terrible session. Asian exchanges picked up somewhat
    in the second half, but ended down approximately 2 %.

    This led to new records in Gold prices which surpassed record 1800. Adjusted for
    inflation Gold has still future potential. The 900 level reached in 1979 equals

    USD was stable towards EURO – 1.4215. YEN and Swiss Franc continue up while
    Australian dollar made a little come back in view of more optimistic forecasts
    for commodities. Oil fall back in Asia, but Brent is now back on 106 levels.

    The markets seem to have stabilized somewhat during the last hours with futures
    for USA pointing up in the morning.

  6. #6

    Default 12.08.2011

    Stocks make come
    back in market rally

    Stock globally made a strong comeback yesterday with markets rallying in late European sessions. Dow Jones
    Sky-rocketed with 3,9 % and Asian markets ended in positive territory after days with consecutive big losses.

    Investors demonstrated bigger risk appetite and sent Gold down close to hundred dollars from its peak on
    1815. Gold stabilized in Asia and is now trading at 1865. Funds went from treasuries into stocks. Strong correction
    in Swiss Franc after central bank intervention. Dollar is slightly stronger against most currencies except YEN.

    The rally came on the back drop of slightly better employment figures from the US. Job claims for June was down from 402 000
    in May to 395 000. US trade balance figures for June did, however, show a decline in export and record deficit.

    France, Spain and Italy have along with Asian markets introduced prohibition against short selling
    echoing measures taken during the 2008 crisis. Measures are taken in effort to stabilize bank stocks which have been in free fall.

    Oil is up from its lows with Brent trading on USD 107 signalizing some optimism for growth., but volatility
    and nervousness are just around the corner indicating that the stock rally shall prove short lived.

  7. #7

    Default 16.08.2011

    The week has started on a positive note with market stabilizing after last weeks turmoil. Europe followed
    the upward trend from Asia. Dow Jones added 1,90 % and Nasdaq 1,88 %. Asia continues slightly up
    this morning.

    Guru investor Warren Buffet is on a buying spree, and declared stocks at sales at present prices.

    While some of the nervousness, at least for now, seems to be have lost its grip grip in the United States, new
    crisis loom around the corner in Europe. Euro-bonds which would have given at Euro zone a necessary
    injection and an insurance against sovereign defaults is not on the agenda for the Merkel -
    Sarkozy meeting today.

    Amidst the uncertainty Euro rose to its highest two weeks level against USD; 1.4450. USD is also loosing
    ground towards other currencies while gold is up from yesterday’s 1745 now trading at 1765.

  8. #8

    Default Market update - 17.08.2011

    Eurobond is not
    at agenda for now

    Merkel and Sarkozy yesterday agreed on stronger financial and fiscal bilateral co-ordination, but stopped short of
    introducing the Eurobonds many observers had hoped for. The markets reacted negatively. Dow and Nasdaq fell
    on continued debt crisis fears in Europe. Shanghai was up, but other Asian markets ended flat. Europe is set to open
    down. US futures are slightly up.

    Dollar is gaining ground against EURO trading at 1.4385. Gold is close to all time high on 1785 while
    oil prices are steady on Brent USD 109 levels. Swiss franc is down fourth day in row following Central
    Bank intervention and rumours that Swiss authorities want to see the Franc pegged to EURO.

  9. #9

    Default 18.08.2011

    Gold continues
    outshining markets

    Gold continues to be the preferred safe haven reaching an end of the day record 1795 yesterday close to the inter day high, 1817, set on August 8th.

    Gold is up for a sixth straight month outshining all other metals and equity classes. No end seems to be in sight. Predictions for 2011 is set to 2000, and Standard chartered bank has 5000 in sight for 2020 as Gold is seen as the best hedge against inflation.

    Why is money continuing to flow into Gold? The debt crisis in Europe, uncertainties regarding economic growth in the United States
    and a consequent slow down in Asia dominate. India with 9 % inflation is by far the biggest buyer of Gold. Central Banks all over the world are storing gold, and the Russian and Mexican central banks are predicted to be the big buyers in 2012.

    No wonder that gold shines.

    After three – four positive days stock markets in US and Asia ended flat or down. Futures for Europe and opening in US are down.
    Oil prices stable. Brent trading around 110. US/Euro is 1.44 and Yen and CHF continue upward.

  10. #10



    Global markets
    fear recession

    Global markets ended in deep red yesterday after one of the worst sell off's markets have seen. Germany was down a record 5,92 %. Sell off's continued with DOW and Nasdaq falling steeply and in Asia where the KOSPI was especially hard hit. European stock futures are pointing down. Gold reached a new record high on 1851. Oil prices are tumbling. Brent trading at 106 down 5 $ since yesterday.

    After a couple of optimistic days panic has again stricken the markets. In spite of some good economic data from the US, investors have already started to price in a double dip recession. Markets were in blood red yesterday and futures are pointing down.

    The Merkel-Sarkozy Summit in Wednesday did nothing to calm investor’s nerves in Europe. Worries on a sovereign debt crisis in is increasing by the day. The future of the Euro is coming on the top. Investors don’t seem at all convinced that politicians and central bankers shall find a way out. Markets then tend to jump miles ahead of governments creating a serious confidence crisis.

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