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Currency

Banks, Bonds, Currency, Debts, Financial, Financial Information, Forex, Investment, Money, Stocks, Trading

The Japanization of Financial Markets

Saxo Bank predicts that monetary stimuli and government deficits are likely to continue, fostering a “Japanization” of financial markets, whereby the market will see higher price-to-earnings ratios and lower yields on both corporate bonds and treasuries.

Chief Economist at SaxoBank, David Karsbøl, commented: “Because Western economies are more flexible and able to embrace the necessary changes, we do not think that things will get as bad as was the case in Japan. However, it is increasingly evident that the current scenario in the West bears a close resemblance to post-1990 Japan, and it looks progressively like we have entered a new regime in which everyone assumes that large companies will be bailed out. This means that default risk is ‘priced out’, and we see higher price-to-earnings ratios and lower yields on fixed income.”

In its fourth quarter outlook, the Copenhagen-based investment specialist predicts that the American economy will return to positive GDP growth in the second half of the year, but warns that the sustainability of this growth is questionable and will be largely due to government spending and inventory restocking. US unemployment will continue to rise over the coming months, and that this will further hinder debt repayments and consumption.

David Karsbol believes a USD short seems to be a vote for the global recovery and has become the, newer and better carry trade. “The very low US’s yields and need for external financing and increasing reluctance from China to buy greenbacks is a toxic cocktail that could drive the currency even weaker in the near term,” Karsbol said.

Looking towards the end of the year, market dynamics indicate a shift from this year’s equity market rally. Global equity markets rallied 59% from the March lows through to August, and looking ahead, dynamics indicate a shift in performance towards micro trends and sector-specific growth and valuation stories.

Karsbol added: “Most indicators of economic activity are stabilising, but at very depressed levels. We believe investors should continue to take cyclical risk through regional allocations, with particular emphasis on emerging markets over Europe and the US, where it will be difficult to maintain and improve growth.”

Via EPR Network
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Saxo Bank, The Online Specialist In Trading And Investment, Maintains Profitability In First Half Of 2009

Saxo Bank, the online specialist in trading and investment, has reported its half year results showing that clients’ collateral deposits and assets under management in total exceeded DKK 25 billion and, in a very difficult year, profit before tax reached DKK 55 million.

Saxo Bank, The Online Specialist In Trading And Investment, Maintains Profitability In First Half Of 2009

Operating costs increased primarily due to new office openings, product launches, as well as contributions to the Danish State Guarantee Scheme and with unchanged income, profit before tax declined from the same period in 2008.

– Pre-tax profits of DKK 55 million (DKK 162 million).
– Operating income of DKK 969 million (DKK 969 million).
– EBITDA of DKK 128 million (DKK 221 million).
– Clients’ collateral deposits increased to more than DKK 11 billion (DKK 8 billion).
– Assets under management in the Asset Management department exceeded DKK 14 billion (DKK 0).
– The solvency ratio for Saxo Bank Group was 18.9% (10.1%).

In a joint statement, Saxo Bank co-CEOs and co-founders, Kim Fournais and Lars Seier Christensen, commented: “We did expect 2009 to be a difficult year. However, the results reassure us that we took the right decision when we chose to steer the Bank into a new phase based on a more flexible structure before the financial crisis took hold. We also find it encouraging that the Bank managed to strengthen and optimise its entire value chain, product offering and geographical footprint during what were six very challenging months for the financial markets as a whole. And, equally importantly is of course, that our new Asset Management department got off to a good start with DKK 14 billion in assets under management, a number that since has grown to DKK 16 billion”.

During the first half of 2009, Saxo Bank introduced a number of enhancements to its award-winning online trading platform, the most significant of which were related to Commodity CFD’s and FX options. In addition to a broader product offering, the Bank widened its geographical footprint and established its presence in Milan, Madrid and Prague, and acquired two Dutch broker houses and a Tokyo-based provider of FX services. In May, Saxo Bank became the first Danish bank to receive regulatory approval to operate a regional office in the Dubai International Financial Centre.

About Saxo Bank
Saxo Bank is an online trading and investment specialist, enabling Forex Trading for clients, CFDs, Stocks, Futures, Options and other derivatives, as well as providing portfolio management via SaxoWebTrader and SaxoTrader, the leading online trading platforms.

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The British Public, Which Has Been So Severely Hit By The Economic Recession And The Crumbling Sterling Exchange Rate, Is Turning To Campervans And Motorhomes As Both A Cheap And Fun Alternative To The Foreign Holidays They Would Normally Have

The old VW Campervan, so beloved of hippies in the 1960s, is making a big comeback. The British public, which has been so severely hit by the economic recession and the crumbling sterling exchange rate, is turning to campervans and motorhomes as both a cheap and fun alternative to the foreign holidays they would normally have.

Holidays abroad are becoming increasingly expensive. The pound has lost a third of its value overseas in the last year, and Spain, which is probably one of the most popular destinations for holidaying Brits, has suffered inflation running at 14% for the last few years and is now more expensive to visit than Blackpool or Southend.

A spokesman for Staveley Head, one of the UK’s leading motorhome insurance providers, said “This time of year is always a busy period for campervan insurance enquiries, but this year we are experiencing an unprecedented number both on the internet and by telephone. People are finding it more financially viable to buy a used campervan or motorhome and have several holidays touring the UK than to spend the same amount of money on one big continental blow-out. And it’s not just the bottom end of the market that’s active. More and more people are buying the larger American style motorhomes which offer virtually all the facilities you can find in a hotel.”

Another advantage of the motorhome is that it easily accommodates the spontaneous holiday or long weekend that everyone wants when the British sun decides to shine. No last minute planning needed with a campervan , no airport delays or travellers cheques needed – just get in it and drive. How many people sleeping under canvas and wallowing in the mud at the Glastonbury Festival wished for a campervan.

The Staveley Head spokesman went on to say “It isn’t only motorhome insurance where we are seeing a substantial increase in activity. Caravans, both statics and tourers, appear to be increasingly popular this year. And the volume of caravan insurance policies we have issued in recent weeks is far exceeds the same period last year.”

Staveley Head is one of the country’s leading motorhome insurance brokers and will give you all the advice and assistance you need regarding this matter, including a very competitive campervan insurance quote, if you log onto their website at http://www.staveleyhead.co.uk You can also compare caravan insurance quotes and even take out motorhome insurance online.

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Banks, Business, Currency, Financial, Financial Information, Financial Management, Financial Services, Financial Software, Financial Solutions, Forex, Investment, Money, Profits, Trading

Trading Floor To Open Up Trading Information For Forex And Equities

Saxo Bank, the online trading and investment specialist, is addressing the problem of market information overload with its TradeMaker module to complement its trading platforms, as well as a new Trading floor website.

Trading Floor

The information barriers of the past that limited trading to professional traders with a Bloomberg or a Reuter’s screen have long gone. The quantity of trading information and Forex news available to all types of traders on a home or business PC has increased to such an extent that now it is possible to trade not only stocks, but also Forex and more exotic instruments such as Futures and CFDs.

But while speed is vital when making trading decisions, speed without solid strategic insight won’t bring any advantages. The main problem is that as the cost of information has fallen, the volume has increased accordingly. Trying to find a way through this jungle of FX crosses, quotes and trades is sometimes a challenge even for the most experienced trader.

TradeMaker is a real-time trading idea generator that is part of Saxo Bank’s award winning trading platforms. It provides ten daily intra-day trading ideas on major currency crosses and CFDs including intuitive charts and interface, as well as one click pre-populated trade tickets or the ability to tailor the idea to personal trading strategies.

“Using the information and services provided by TradeMaker, we hope to be encouraging those traders that are looking to enter the market but need more direction,” said Patrick Mortensen, Global Head of Partner Marketing at Saxo Bank.

“We have already received feedback that tells us users actually feel more secure in their trading decisions, as TradeMaker enables them to better identify and manage the risks involved in the market,” said Patrick Mortensen.

The advent of the electronic trading platform has brought an end to the ‘open outcry’ of busy, noisy trading floors. As traders have retreated behind desks and screens, the shouting, signaling and pulling faces have disappeared. And with it has gone some of the human interaction that helped inform the markets.

Trading Floor is an attempt by Saxo Bank to bring some of that noise back by getting the markets rubbing shoulders, dealing – and shouting. Trading Floor provides up to date, forex news and market place analysis.

The aim of the new Tradingfloor site is to bring market participants together through the web site. Saxo Bank provides the web site and the expertise of its strategists and analysts and those of its partners.

The Daily Trading Stance is the mainstay of Tradingfloor’s daily offering. It is the position that Saxo bank’s own strategists distribute to traders with a rundown of the main themes of the day in FX, equities, futures, and FX options.

The commentary is prepared by Saxo Bank’s Chief Economist David Karsbøl and Saxo Bank’s Equity Strategist Christian Tegllund Blaabjerg, with additional advice from Forex expert John hardy, who was named as one of the most influential people in Forex in 2008. Commodities expertise is provided by Ole S Hansen and Alan Plaughmann. Tradingfloor.com also has its own YouTube Trading Floor channel which is updated daily with the day’s trading information and delivered by David or Christian.

The speed of trading has picked up tremendously in recent years with the use of automated and semi-automated systems. But the systems are only as good as the information they receive. The key to success in online trading is to find reliable sources of solid tradable information.

About Trading Floor:
Trading Floor is run by Saxo Bank – a global investment bank specialising in online trading and investment across the international financial markets. Trading Floor provides up to date forex news and market place analysis.

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Banks, Business, Currency, Financial, Money, Trading

M&S Money reports sales of Dubai currency hit record levels as the QE22 prepares to leave the UK for the final time

As the QE2 leaves the UK for the final time before becoming a floating hotel in Dubai, figures from foreign currency expert M&S Money suggest that the region continues to be a popular winter destination for Brits.

Last month saw the highest ever amount of sales of foreign currency for Dubai, with more than

£1million worth of UAE Dirham (AED) being sold through the network of M&S bureaux de change, as well as on the phone and internet.

October’s record figure has contributed to a 15% year-on-year increase in sales of the UAE Dirham – the currency used in the seven states which form the United Arab Emirates.

Dubai and the other UAE states have grown in popularity as a destination for Brits in recent years, whether on holiday, for business or visiting friends and family.

Hotels in Dubai have reported growing visitor numbers this year. According to the Dubai Department of Tourism and Commerce Marketing there was a 22 per cent growth in hotel revenues during the first three months of 2008, compared to the corresponding quarter last year.

The Queen Elizabeth 2 (QE2) cruise liner is the longest-serving ship in the 168-year history of the Cunard line and is currently owned by Carnival, the world’s largest cruise operator.

Having now left Southampton for the last time she will arrive in Dubai later this month, where she will undergo extensive refurbishment to become a floating hotel.

Fraser Millar, M&S Money Head of Travel Services, said: “Our travel money sales figures show that the UAE Dirham is one of the most popular currencies outside the Euro and US Dollar.

“October and November are usually the peak months for sales of the Dirham as people prepare to head-off for some winter sun. The high sales figures of last month may indicate that those who are travelling to the region are taking more cash as a result of the increased cost of living in Dubai. Travellers should bear this in mind when deciding how much currency to purchase before travelling.”

According to www.dubaifaqs.com, visitors can expect to pay around:

  • Hotel room (per night): £50
  • Small car rental (per day): £17
  • Petrol (per gallon): £1.05
  • Beer (pint): £5
  • House wine: £30
  • Bottle of water (1.5 litre): 40p
  • Burger: £2.40
  • Foreign newspaper: £3

Brits spend on average £821 per visit to the UAE, or £76 per day (Figures from the

Office for National Statistics Travel Trends 2006).

 

About M&S Money

M&S Money (originally called Marks & Spencer Financial Services) was founded in 1985 as the financial services division of Marks and Spencer Group plc. The company is now a top-ten credit card provider and the second-largest travel money retailer in the UK. M&S Money also offers travel insurance as well as providing insurance for homes, cars, travel, pets and weddings, along with loans, savings and investments.

In November 2004, Marks & Spencer sold M&S Money to HSBC, one of the world’s largest banking and financial services organisations with over 9,500 offices in 76 countries and territories. The business continues to operate under the M&S Money brand, with an executive committee comprising an equal number of representatives from HSBC and Marks & Spencer.

The company employs 1,200 staff at its headquarters in Chester, delivering personal financial services to its customers, reflecting the core values of Marks & Spencer — quality, value, service, innovation and trust.

Via EPR Network
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