Archive for the ‘World Cup’ category

Market Moves ahead of Weekend

June 24, 2010

It’s nearly time for another weekend, one which promises to bring fraught nerves and emotion.  Are we talking about a G20 summit or economic data announcement? No…this is far more important to most inhabitants of two European countries:

England VS Germany on Sunday in the World Cup.

But while the weekend, with its peak (or trough) on Sunday, may be around the corner there are still those who are focussing on the job in hand.  Today, Australia announced its first female Prime Minister.  Julia Gillard took over the pole political position after former PM Kevin Rudd chose to throw in the towel ahead of an internal ballot.

The news brought strength to the Australian dollar, which surged against its New Zealand counterpart.  Minining stocks also got a boost, as it seemed likely that the controversial mining tax will receive more attention and review by Ms Gillard.

Markets lost momentum (or interest?) in the topic later on though, with European stock slumps and another weak euro versus the yen and the dollar.  No prizes for guessing why (hint: Greece).

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