All Posts Tagged With: "Australian Dollar"
Short-Selling Ban Could Deepen Stock-Market Crisis
The proposed $700 billion safety net for banks and lenders hasn’t stopped the Dow from sliding over 200 points today. Neither has the SEC’s temporary ban on the short selling of 799 financial institutions.
According to Dan Denning in The Daily Reckoning Australia, the ban could actually make the crisis worse. That’s because investors could be reluctant to take up long positions in stocks when they cannot hedge their risks with short plays.
If confidence is not restored quickly, the next logical step for regulators would be to close the markets altogether…
Dollar Rally Means Mining Stocks On Sale
The dollar continued to rally against the euro yesterday.
It reached its highest level against the euro since January, after Jean-Claude Juncker, chairman of eurozone finance ministers, said the single currency was overvalued.
Dan Denning says the dollar rally will continue to push down key commodity prices in the short term. The problem is there’s little to support the dollar’s climb over time.
This makes mining stocks a bargain for the long-term investor.
Mining Stocks Are Your Best Bet in Uncertain Austrialia
The Reserve Bank of Australia (RBA) has cut its benchmark rate 25 basis points to 7%. This has sent the Aussie dollar and local stocks tumbling.
Chuck Butler says only one more rate cut is likely this year. Charles Delvalle, meanwhile, expects dividends on Austrialian companies BHP Billiton (NYSE:BHP) and Rio Tinto (ASX:RIO) to fall as the Aussie dollar weakens against the greenback.
Al Robinson at The Daily Reckoning Australia says the RBA is caught between fighting higher prices and a stagnating economy. But he says local mining stocks still a good bet…
Australian Resource Stocks Are Selling at Bargain Prices
The Daily Reckoning’s Dan Denning says Australia needs to get serious about the energy debate. Australia is rich in resources, but too much bureaucratic red tape is beginning to scare away foreign investors. Nevertheless, Aussie resource firms provide many excellent investment opportunities, some of which are not on the radar of institutional analysts…
Bullish Signals for Macmahon Holdings Limited (ASX:MAH)
Gabriel Andre uses technical analysis to forecast the movements of Macmahon Holdings Limited (ASX:MAH). This penny stock made 150% of gains during a six-month period last year, before retracing this year. But Gabriel thinks it could soon be testing the resistance at its historical high of $2…
Asian Industrialisation Key for Australian Resource Sector
We are seeing mob behavior in the financial markets, says Al Robinson in The Daily Reckoning Australia. The country’s main stock exchange, the ASX, is following the Dow Jones Index on its various ups and (more frequent) downs this year.
Australian Resources Attract Global Investment Interests
Australian Federal Treasurer Wayne Swann has approved the sale of 11% of Rio Tinto (ASX:RIO) to Chinalco. The Daily Reckoning’s Dan Denning says this is just more evidence of foreign interest in Australia’s mineral deposits.
Faced with this reality, Dan says the government needs to decide whether Australia is for sale or not.
One thing for certain, as emerging giants like China and India increase their per capita income, the chase for global resources will become more intense. And Australia will be in the thick of the action…
Dan Denning’s Top 3 Mining Investment Plays in Australia
Dan Denning at The Daily Reckoning Australia says the country’s world-class mineral deposits lured him away from the U.S. in 2005. New mining ventures in ’super’ deposits such as Mount Isa in Queensland may be volatile, but as older mines near the end of their productive life, they will control all the resources.
China’s CNOOC Joins Australian Coal-to-Liquids Energy Project
Daily Reckoning Australia’s Dan Denning takes a look at the latest developments in the Australian energy sector. He says the country will need new energy supplies from somewhere to power its industry, and much will depend on the government’s carbon trading scheme. More from Dan…
Aussie Government’s Regulation Will Harm Competitiveness
The Daily Reckoning’s Dan Denning says the Australian government’s attempts to protect the environment is costing the country in terms of competitiveness. What policy-makers don’t realize is that if it was allowed to function freely, a long-term energy solution might come from the market…
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