| US Dollar, stocks and real estate ready to rally as new financial overseers, SEC-CFTC merger
The analytics are compelling. The quantitative models show signs of smart money moving in very fast. The fundamentals now are leaning to the theory. US Dollar, stocks and real estate ready to rally as new financial overseers, SEC-CFTC merger are proposed by Treasury Secretary Henry Paulson. according to the draft of a study Treasury Secretary Henry Paulson commissioned, recommends more power for the Federal Reserve, also proposes combining the Office of Comptroller of the Currency -- which dates back to the Civil War -- and the Office of Thrift Supervision into a single banking overseer. In addition, the draft, which was circulated to government agencies this week and obtained by Bloomberg News, calls for the merging of the Securities and Exchange Commission and the Commodity Futures Trading Commission.
Petronas: Malaysia Needs To Gradually Move Into Market-base Fuel Prices
KUALA LUMPUR, March 26 (Bernama) -- Malaysia needs to gradually move into market-based fuel price mechanism so that it will be able to withstand future challenges, Petroliam Nasional Bhd's (Petronas) vice president for corporate planning/development division, Datuk Nasarudin Md Idris, said Wednesday. He said the consumers and market players must not be complacent with the current pricing mechanism which was supported by heavy government subsidies. The government recently announced that the fuel subsidies for this year were expected to increase to RM35 billion if the crude oil prices continued to remain at US$100 (US$1=RM3.18) per barrel compared to RM16.2 billion last year. "We don't have much of a choice. We need to gradually move to the market-based pricing mechanism and better management.
Gold hits one-week high on weak dollar
Gold hit a one-week high on Wednesday as a falling dollar and firm oil prices encouraged investors to shift money back into the market after last week's heavy sell-off. Gold rose to a high of $948.80 an ounce and was quoted at $948.20/949.10 at 1102 GMT (7:02 a.m. EDT), against $934.60/935.40 late in New York on Tuesday. "We are still going to have another leg up towards $1,000, but I think it might be slower than the run up we saw the last time," said Suki Cooper, metals analyst at Barclays Capital. "There has been some profit taking, but I don't think the overall trend has been damaged," she said, adding dollar weakness, inflationary concerns, expectations of further Fed rate cuts and financial market worries were expected to continue supporting the market.
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