LONDON, Oct 6- Emerging market stocks extended a four-day rally on Tuesday, but currencies weakened as commodity prices came under pressure and investors worried about the health of the global economy. MSCI's emerging stock index rose 0.6 percent to an 18- day high, getting a lift from Asian stock markets finishing the day on an upbeat note.» Read More
The euro hits a two-month high, it's best level since December 9th. What's behind the rally, with CNBC's Melissa Lee and the Money in Motion traders. Also, Wednesday's LTRO auction will show the real health of the European banking system. Making money off the LTRO auctions.
One of the challenges investors face today is how to reconcile seemingly conflicting messages coming from different markets. Is Dow 13,000 consistent with a 10 year U.S. Treasury at 2% and gold at almost $1,800? Is $125 Brent oil consistent with cyclically low implied volatility in many market segments, as well as widening CDS spreads for Middle Eastern oil producers?
China should accelerate the loosening of capital controls, its central bank said, in a report outlining the path to a freely tradable currency and more open capital markets. The Financial Times reports.
Stock index futures pointed to a rise in U.S. equities on Tuesday after euro zone finance ministers finally sealed a bailout for Greece. European shares steadied on Tuesday after hitting seven-month highs on Monday, with strategists saying the focus would now turn to the bleak outlook for Greece's economy after the country secured a bailout package.
HSBC Economist Stephen King says the growing likelihood of further quantitative easing (QE) in the U.S., contrasting with real efforts to slash budget deficits in Europe, suggests the single currency will come out stronger in the medium term.
Peter Redward, Principal, Redward Associates says the wild card for investors is the possibility that the U.S. economy improves stronger than expected. If that happens, he says risk currencies like AUD will be under pressure.
Analysis on the euro and where its headed next, with Todd Gordon, Aspen Trading Group.
US Futures point to a higher open for Wall Street after a mixed trading session yesterday. European stocks rose on Wednesday following better-than-feared GDP figures for Germany and France, and as debt-stricken Greece appeared to be nearing a political consensus on painful budget cuts. In Asia markets rose on Greece while comments from China's central bank governor saying Beijing would continue to invest in euro zone government debt aided sentiment.
The Greek parliament’s approval of fresh austerity measures despite violent protests in Athens opened the door for a brighter disposition in markets and this could push stocks upwards, according to analysts.
This could be a make or break weekend for Greece, strategists say. Here's how to play the uncertainty.
The setback on the Greek austerity plan is sapping euro strength.
Markets in Europe are mostly down as Greek opposition to the austerity plan heats up. Bank stocks are among the biggest losers. Spain approves sweeping labor market reforms. Four Greek ministers resign in protest over the new austerity package. Greece's police union threatens to issue arrest warrants for EU, IMF officials.
Greek drama staggers on, and risk appetite sags - it's time for your FX Fix.
S&P 500 futures point to New York stocks declining 0.5 per cent at the opening bell. European shares also fell today, dragged lower by banks on concerns about the outcome of the euro zone debt crisis after finance ministers imposed further conditions before approving a rescue package for Greece. Asian shares ended lower as investors remained concerned about Greece's commitment to debt restructuring.
Greek political leaders said they had clinched a deal on economic reforms and spending cuts needed to secure a second bailout, but euro zone finance ministers demanded more measures and a parliamentary seal of approval before providing the aid.
The euro shrugged news of a Greek debt deal, but this strategist thinks the fun isn't over.
These strategists say the Australian and New Zealand dollars could be headed for a fall.
Greek talks go down to the wire, and central banks hold steady - it's time for your FX Fix.
Greek crisis? What Greek crisis? Near term, this strategist likes the euro.
The strategy for the euro as rates hits its highest levels in two months on hopes that Greece is closer to resolving its debt issues, with MacNeil Curry, Bank of America Merrill Lynch head FX & rates technical strategy.