Morning all. Thanks for all your efforts with the Traders' Thread during the last five years Alan. Friday's market reports:
Telegraph
The Times
The Times (Need to know)
FT
The Guardian
The Independent
This is Money
Saturday
The US is on the brink of emerging from its 18-month-long recession according to the International Monetary Fund, as official figures showed the American economy contracted by just 1pc in the second quarter of the year.
US slump is almost over, IMF predicts
Gold rallied to session highs above $940 an ounce on Friday, recovering earlier losses, as the dollar slipped against a basket of six major currencies in the wake of second-quarter GDP data from the United States.
Gold rallies after US GDP hits dollar
Crude oil refining margins have been trying to warn the world about weak US demand for months now. This weeks oil major results may finally spread the realisation that not all is well in industrial demand for energy into the wider public consciousness.
Refining, the weakest link in the recovery
Unemployment in Japan has risen to its highest level for six years, sparking fears that the country's recovery is being hampered by deflation and weak demand at home.
Japan: Unemployment hits six-year high
Sunday
President Barack Obama has given warning that the US economy will not recover for "many more months" and said the recession was worse than anyone had thought.
Obama warns recession is far from over
The Bank of Englands monetary policy committee (MPC), which meets this week, is under pressure from economists and business to extend its policy of quantitative easing, or creating money.
Bank of England urged to extend quantitative easing
High Street banks are this week forecast to write off a combined 32bn as the recession bites, exacerbating the difficulties facing businesses and households in making loan repayments on time.
High street banks set to write off further 32bn
Monday
The recent stock market rally could continue this week, as traders increase their bullish positions in a wide range of asset classes.
Traders bet on continuing stock market rally
Gilt markets are nervously awaiting this week's Bank of England Monetary Policy Committee meeting to see whether policymakers inject another 25bn into the economy.
Jitters as limit on quantitative easing looms
Beijing is in the middle of negotiations with mining companies including Rio Tinto, BHP Billiton and Vale of Brazil to set a single price for iron ore, the key raw material for steel making. However, a large number of the country's steel makers have defied the Communist Party's line and started to buy iron ore on the spot market, driving prices up 64pc in the past three months to over $100 (60) a tonne.
China struggles with steel rebellion
China is rapidly accelerating its efforts to internationalise its currency with a series of manoeuvres that could see the renminbi soar to become one of the top three traded monetary units in the world.
China moves to internationalise its currency
Opposition was growing on Sunday to radical proposals from Lord Myners, City minister, for a two-tier shareholder register that would see greater voting rights given to longstanding institutional investors. He told the BBC that short-term investors should have reduced rights as owners, arguing that companies are too important for big investors to trade in and out.
UK opposition grows to two-tier share plan