Corporate foreign exchange news

Risk-hungry traders 'enjoying a banquet'

Wednesday, 05 August 2009 09:23:18 GMT

Risk hungry investors are enjoying a banquet as positive economic data, strengthened corporate results and climbing equities are brought to the table, the Financial Times has claimed.
The paper noted that July was a bumper month for equities traders, while other high-yielding assets such as emerging market currencies also saw strong growth as forex traders moved away from the safe-haven dollar and yen.
"Growing investor optimism continues to fuel the market rally and positive surprises from this week's data releases could help sentiment recover some more," said Valentin Marinov at Commerzbank.
New output data from the US, China and the UK has also helped to restore faith in a global manufacturing industry that looked decidedly cachectic at the beginning of the year.
The UK's purchasing managers' index also edged towards 50 in July, indicating that the 17 consecutive months of contraction may be coming to an end.
Gains made in the index had been broadly above expectations.ADNFCR-2522-ID-19297087-ADNFCR
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