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Data China And US Stocks Limit Increased Oil Prices

Friday, April 24th, 2015

Crude oil is flat for most of the Asian session following a double factor slowing economic activity in China and back increase in US oil inventories. WTI crude oil traded limited at the level of $ 56.23 per barrel at the end of the Asian session, with daily highs and lows $ 56.55 $ 56.13 daily.

China is the world's second largest oil consumer and demand for oil is related to economic growth. Preliminary results of a survey conducted in HSBC for the manufacturing sector fell to 49.2 in April of the year, lower than the 49.6 at the end of March. Data from Chinese customs report contained 14% increase in crude oil imports in March from a year earlier, but still at the level of a five-month low, mainly due to the rebound of domestic production. Overnight US energy department confirmed a 5.3 million barrel rise in weekly US crude inventories, higher than predicted

News and Economic Review Zone Asia (Japan)

Japanese Manufacturing Sector PMI contracted in April

Friday, April 24th, 2015

Activity in the Japanese manufacturing sector contracted in April for the first time in nearly a year as the decline in the level of domestic demand and output, which can trigger anxiety loss of momentum of economic recovery in Japan. Japanese manufacturing sector PMI by Markit / JMMA fell to 49.7 in April from 50.3 in March, fell to below the 50 level that separates contraction and expansion for the first time since May last year.

An advanced level of new orders fell 48.5 from 49.4 in March, contracts for 2 months in a row and with a faster pace. Output index fell to 29.7 in April, the first contraction in 9 months. The index for new export orders fell to 51.0 from 52.0 in the previous month, but continued to expand as the weakening yen helped boost the price kompetitifitas Japanese exporters. PMI final Markit / JMMA for April will be released on 1 May.

Slowing activity in the manufacturing sector PMI index is still relatively small, but industrial output data the previous government have raised doubts about the strength of the corporate sector. Industrial output fell more than expected in February, and economists will see output data in March of next week to see if the output recovered.

News and Economic Review Zone Asia (South Korea)

Korean Consumers More Upbeat Post BOK Monetary Easing

Friday, April 24th, 2015

Consumer sentiment in South Korea increased in April, signaling the success of the central bank to boost Asia's fourth largest economy towards economic recovery. The Bank of Korea (BOK) reported the Consumer Sentiment Index (CSI), which hit a 104 in April, up from 101 the previous month's level. The results of the survey are above level 100 illustrates the tendency of optimism that more than pessimism.

Having dropped sharply in April last year following the sinking of the ferry, the monthly index has not shown consistency consumer expectations. The government's efforts to stimulate considered not capable of restoring consumer sentiment.

However, the BOK effort in March that cut interest rates to the lowest level of 1.75% managed to strengthen hope for economic recovery. BOK also added an increase in transactions in real estate and stock markets also membanutu encourage consumer sentiment.

News and Review of European Economic Zone (Germany)

German Business Sentiment at Highest Level Since June

Friday, April 24th, 2015

German business sentiment improved in April, indicating that the economic recovery in Europe's largest economy, which started last year is still gaining momentum. The Ifo business climate index rose to 108.6 by in April from 107.9 in March, hitting its highest level since June 2014. Economists had forecast a rise to 108.4. Ifo President Hans-Werner Sinn said that the recovery in the German economy continues.

Index continues to show the strengthening of the growth rate in 2015 than last year, but the evidence suggests that the reinforcement is limited. PMI survey this week showed that the private sector in Germany grew at a slower pace in April compared to March, while a separate survey by the ZEW also showed poor results grama from the previous month. Sinn added that the manufacturing sector assess their current business conditions improved from last month, but only sedikti optimistic about future business developments.

News and Review of European Economic Zone (Greece)

Greece Will Not Get Help To Deal Reached Reform

Friday, April 24th, 2015

Given a stern warning against Greece at a meeting of finance ministers from the euro zone today, Greece is said to be approaching bankruptcy will receive grants before approving a full economic reforms.

Chairman of the Eurogroup, Jeroen Dijsselbloem, closing opportunities requesting aid Greece early with only a partial submit reform proposals. He said the rest of the bailout funds being frozen at € 7.2 billion will not be available again after June, and Greece's creditors would not discuss the long-term financial aid and debt relief to the Athens government reached an agreement full reform.

Dijsselbloem also said that the finance ministers will review the progress of the Greek reform program only on May 11, a day before Greece must make payment to the International Monetary Fund, worth € 750 million.

PM Greece, Alexis Tsipras, after a meeting with German Chancellor, Angela Merkel, on Thursday said he hoped the deal would be reached at the end of this month. Merkel himself said he would do anything to Greece is not out of the eurozone, but Greece must reform.

EIA Report Oil Inventories Rise Above Estimates

Thursday, April 23, 2015

Energy Information Administration (EIA) reported US oil inventories rose 5.3 million barrels last week became 489 million barrels, higher than the forecast of analysts surveyed by the Wall Street Journal by 2.8 million barrels. However, the EIA report is still lower than the American report Pertroleum Institute of 5.5 million barrels. Until last week, US oil inventories have risen in 15 consecutive weeks.

EIA also reported gasoline inventories fell 2.1 million barrels, and distillate oil inventories rose by 400,000 thousand barrels. Oil inventories in Cushing Oklahoma reportedly rose 738,000 barrels.

WTI crude oil rose to respond to the data observed, traded the range of $ 56.81 a barrel at 22:18.

Throughout this month WTI crude oil has gained about $ 10, supported by the turmoil in Yemen, as well as speculation slowing US oil inventories rise, before finally going downhill. But Saudi Arabia is stopping the attack on Yemen on Tuesday likely to put pressure on the oil price movement

News and Economic Review Zone Asia (China)

Chinese Manufacturing Sector Activity Drops to Lowest Level in Year

Thursday, April 23, 2015

China's manufacturing sector activity fell to its lowest level in one year in April, according to a private survey on Thursday. HSBC PMI index released at 49.2, compared to the estimate of 49.6, and following the results in March at 49.6. Results below 50 signal a contraction in the sector.

At the end of last week, the People's Republic of China cut the minimum reserve requirement (RRR) of major banks. Pruning by 100 basis points to 18.5% was the biggest cuts since 2008, when the peak of the global financial crisis. The move is the latest step of a number of aggressive policy of the Chinese government to stop the further slowdown in the country's second largest economy in the world. China grew by 7% in the first quarter, according to the GDP data last week, the slowest pace in six years.

News and Review of European Economic Zone (UK)

UK Retail Sales Decline in March

Thursday, April 23, 2015

Office for National Statistics reported retail sales in March fell 0.5%, 6.2% drag reduction at the gas pump. Economists surveyed by Bloomberg News had forecast a rise of 0.4%. If not include fuel sales, retail sales rose 0.2%. As for retail sales in February was revised down to 0.6% from 0.7% the previous release.

Retail sales contributed 5.7% of the UK's gross domestic product grew 0.9% in the first quarter, far down from 2.2% in the last quarter of 2014. The UK's gross domestic product data will be released on Tuesday next week.

The retail sales data signaled the UK economy lost momentum in the first quarter. Prime Minister David Cameron continues to continuing economic recovery in order to convince Britons to vote Conservative on May 7 elections.

News and Review of European Economic Zone

Eurozone Business Activity Slows in April

Thursday, April 23, 2015

Eurozone economic recovery slowed in April, although still showing the fastest pace in recent years. A survey of purchasing managers in firms in the region suggests that the economy has come out of a period of stagnation, helped by lower oil prices, the decline in the euro exchange rate, and the level of trust that is stable after the European Central Bank launched a program of monetary stimulus.

Markit report the results of the survey showed business activity index, which includes the manufacturing and service sectors, the euro zone fell to 53.5 in April from March at 54.0. A reading above 50 indicates expansion and below 50 indicates contraction.

The business activities of the two economic giants euro zone, Germany and France, reportedly slowed down, but activity in the country lainnnya recorded the fastest pace since August 2007. German business activity index slowed to 54.2 from the previous 55.4, and French business activity fell to 50 , 2 from the previous 51.5

News and Review of European Economic Zone (Spain)

Spain Unemployment Rate Up in First Quarter

Thursday, April 23, 2015

Spain's unemployment rate rose in the first quarter of this year from the last quarter of 2014, Spain's economic recovery is still not able to create more jobs. Statistical Bureau of Spain, INE reported the number of people who do not have jobs decreased by 13,100 to 5.44 million. The reduction to be the biggest in the first quarter since 2005. Nevertheless Spain unemployment rate rose to 23.8% the previous daro 23.7%.

Spain's unemployment rate is the largest in the EU kedia after Greece which stood at 26% at the end of 2014. During the beginning of the European crisis, the unemployment rate became the highest Spain, before it was taken over by Greece in mid 2012. Spain's unemployment rate reached its highest peak The first quarter of 2014 amounted to 26.9%

Expect Stable Oil Inventories Data US

Wednesday, April 22, 2015

Oil is still moving stabilized after slump in trading Tuesday. The report of the American Pertroleum Institute (API) on Tuesday when ASyang showed US crude inventories rose higher than expected to put pressure on oil, while the US government agency, the Energy Information Administration (EIA), US oil inventories will report today.

API previously reported US oil inventories rose 5.5 million barrels last week. The increase was greater than the estimate of analysts surveyed by the Wall Street Journal by 2.8 million barrels.

Strengthening oil previously also supported the turmoil in Yemen, now began depressed after Saudi Arabia on Tuesday to stop military incursions into the country to fight the Houthi rebels.

WTI crude oil traded the range of $ 56.40 per barrel

News and Economic Review Zone Asia (Japan)

Japanese Trade Balance Back Surplus

Wednesday, April 22, 2015

The level of Japanese exports exceeded the level of exports in the month of March for the first time in nearly 3 years, providing support for the economy struggling with weak domestic demand. The trade surplus reached 229.3 billion yen (1.9 billion dollars), according to financial kementerikan on Wednesday, higher than the estimate of 44.6 billion yen. Japan fossil fuel imports surged after the Fukushima disaster in 2011 and triggered the closure of all nuclear reactors in Japan. More than 40% decline in oil prices in the last 12 months has been to cut costs, while weakening yen boosted the value of exports.

Toru Suehiro, economist at Mizuho in Tokyo, said that external demand will be a bright spot for the Japanese economy this year as the level of domestic consumption and capital investment is expected to remain weak. He added that exports are in the upside. Suehiro estimate the trade balance deficit will re-print in April and in 2015, said that the return to the surplus for the time being due to the reduced activity in Asia in February due to the Chinese New Year and a rebound in March.

News and Review of European Economic Zone (Italy)

Italian Industrial Orders Up Sustained Domestic Demand

Wednesday, April 22, 2015

Italian industrial orders rose in February, after sharp falls in the previous month. The increase was supported by domestic and foreign demand. Italian statistics bureau, Istat, reports based on data that have been adjusted for seasonal factors, industrial pensana rose 0.8% in February. As for January was revised to -3.7% from -3.6% the previous release. Domestic orders rose 1.2% in March from January, while foreign orders rose 0.4%.

Compared to the previous year and without adjustment, penasan reported up 2.0%. Orders can be a mirror next to the Italian industrial production, which has the second largest manufacturing sector in Eorpa after Germany. Reported industry sales rose 0.4%, from January, while compared to February 2014, sales fell 0.9%

News and Review of European Economic Zone (UK)

Bank of England Optimistic Against Euro Zone Economy

Wednesday, April 22, 2015

Minutes of the monetary policy meeting the Bank of England shows all the members of the board agreed interest rate was maintained at 0.5%, but for two members of the decision is deemed to be "balanced". BOE also estimate the likely inflation will recover faster than expected in the next year. All members jugua agree maintain the asset purchase program worth £ 375 billion.

The central bank also showed optimism for the euro zone economic recovery on the terms of the data that was released earlier. Weak demand from the block 19, the country has dropped to burden perekonoian UK in recent years, the Bank of England said the benefits of higher economic growth better than the form of the exchange rate caused by the asset purchase program of the European Central Bank.

In the minutes of the Bank of England also did not expect the US economy to show weakness in the last month, but also estimate the attenuation is only temporary. The weakening that occurs in the US and China's economy is successful offset by the euro zone's economic recovery.

News and Review of European Economic Zone

Coeure: ECB Will Continue to Provide Liquidity to the Bank in Greece

Wednesday, April 22, 2015

The European Central Bank will continue to provide liquidity to banks in Greece during these banks are able and have enough collateral, according to the ECB executive board member Benoit Coeure on Greek newspaper, Kathimerini on Wednesday. He said that imposing capital controls is not a "working assumption" the ECB, while speculation about a Greek exit from the eurozone is "impossible." Asked about whether the ECB will return to Athens the profits derived from the Greek bonds were bought at the height of the debt crisis, Coeure said that it depends on whether Greece can complete a review bailout successfully. He added that the uncertainty regarding the Discussion of Athen and creditors dragging down economic activity and the risk to the health of the financial system.

According Coeure, in recent days, there is real progress in the quality of the discussion with three institutional creditors - the ECB, the European Commission and the IMF - that might be able to continue in the future. But he added that, however, a significant difference to the subject is still there and still required substantial effort. He hoped Discussion of these can reach agreement.

Fluctuating oil at Highest Level in 2015

Tuesday, April 21, 2015

Oil fluctuate between reinforcement and pelemaha at the highest level so far this year. Chinese stimulus as well as the turmoil in the Middle East capable of lifting movement of oil, but the dollar rose at the beginning of this week gives a negative sentiment for the black gold.

China's central bank is not terdugamemangkas Statutory by 100 basis points to 18.50%. The trimming is the largest in the last six years, to spur the economy and the expected increase in oil demand. China is the second largest oil consumer in the world.

Spokesman for the Interior Ministry of Saudi Arabia, Turkey Mansour, said the military forces have been on alert in shopping centers and government agencies to anticipate the possibility of an attack. Saudi Arabia launched air strikes against Houthi rebels in Yemen since 26 March.

Since early April, oil has gained about 17%, more positive sentiment came from the company Baker Hughes reported that the number of rigs operating in the US decreased in 19 consecutive weeks, and is at its lowest level since 2010

News and Economic Review Zone Asia (Japan)

Japanese Manufacturing Sector Sentiment Worsens in April

Tuesday, April 21, 2015

Sentiment among factories in Japan deteriorated for the first time in 3 months in April but sentiment improved service sector, according to a Reuters poll, underlined the economic recovery from the recession last year uneven. Reuters Tankan, which follows the quarterly Tankan survey of the Bank of Japan, following a number of recent poor indicators that have raised concerns about the recovery stabi on the country's third-largest economy in the world. The poll of 483 large and medium enterprises, which was answered by 266 companies on April 1 to 15, show companies anxious presence of weak demand at home and abroad. Participants poll also filed complaints about the cost of imported raw molar increased due to the weakening yen.

In awareness of companies in Japan contrast with the optimism of the central bank and the government, which saw the economy is in a moderate recovery path. While the manufacturing sector is depressed by the decline in global demand, the service sector sentiment soared to its highest level since June. Retailers managed release of pessimism for the first time since October in a signal the economy began to slowly recover post distressed by the impact of the sales tax increase last year.

News and Review of European Economic Zone (Germany)

German Economic Sentiment Down in April

Tuesday, April 21, 2015

The level of investor confidence in the German economy surprisingly fell in April due to the uncertainty in Greece's debt will likely have an impact on the economy of Europe's largest.

The ZEW Center for European Economic Research reported that the index number of investor and analyst expectations for the German economy in the next six months fell to 53.5 in April from 54.8 in March, at the same time break the expectations of a rise to 55.3 by economists surveyed Bloomberg News.

However for 238 investors and analysts surveyed by the ZEW still optimistic with the current economic conditions, the index numbers reached 70.2, far up from 55.1 in March.

Economists also expect the German economy will grow 0.5% in the first quarter of this year, and will grow at the same rate in the next quarter.

News and Review of European Economic Zone

Call ECB officials Grexit Impact Limited

Tuesday, April 21, 2015

Board of Governors of the European Central Bank, Ewald Nowotny, said the impact of the Grexit, the term used market participants will be a potential Greek exit from the euro zone, will not be the same as the impact in the event two years ago.

Nowotny added that he did not see a Greek exit will be followed by the release of the other member states, though he could not estimate the psychological impact will ditumbulkan of a Greek exit. The Austrian central bank governor also said that the time for Greece and krediurnya to reach an agreement began to run out.

Greek Finance Minister, Yanis Varoufakis, at the end of last week that a Greek exit can be followed by other countries that use the euro currency

News and Review of European Economic Zone (Greece)

Athens Ordered Public Body to the Central Bank Deposit Fund

Tuesday, April 21, 2015

The Greek government on Monday issued a decree that requires public bodies such as state-owned enterprises and public pension institutions to transfer their cash reserves to the central bank. Although the decree is not surprising, considering that Athens has circulated a notice last week, it remains a proof step increasingly diminishing government coffers amid renewed concerns about the risk of a Greek default.

In a speech in front of reporters last week, Deputy Finance Minister Dimitris Mardas had been warned about the possibility of the application of these measures. "Similar provisions have also been applied in the Netherlands, Portugal and the UK," said Mardas. "It became one of the options."

So far, it is unclear when Greece will actually run out of cash. But the ratings agency Standard & Poor's last week predicted the Greek cash reserves will likely run out in mid-May

Oil Positive response to China's Stimulus

Monday, April 20th, 2015

Oil prices continue to rally as China take new economic stimulus measures and the oil drilling in the US cut the number of active rigs to the lowest level since November 2010. Oil rallied by 1.2% on the New York session on Friday after the cut fifth weekly gain. China on Sunday announced the biggest cuts after the global financial crisis on capital reserve ratio of banks following a report that showed economic growth is slowing. Oil rigs in the US fell by 26 to 734 last week, according to Baker Hughes Inc. Oil prices have risen 30% from a 6-year low in March, the signal minimal number of active rigs will inhibit the production rate and reduce excess global oil supply. Rally is probably hampered by the US oil supply is still near its highest level in 85 years.

Michael McCarthy, chief strategist at CMC Markets in Sydney, said that the capital reserve ratio cuts in China has been clearly perceived as a stimulus. The oil market reacted quite strongly to this, and a reduction in the number of rigs and production rates in the US helped strengthen the bullish scenario of oil, he added. The US and China are the two countries in the world's largest consumer of oil and will cover approximately one-third of global demand this year, according to estimates from the International Energy Agency in Paris.

News and Economic Review Zone Asia (China)

Try Overcome Slowdown, PBoC Back Crop RRR

Monday, April 20th, 2015

Central Bank of China on Sunday to cut the number of banks' capital reserves, the second cut in two months, adding to the amount of liquidity in the country's second largest economy in the world to help trigger rate on bank loans and overcome the slow growth. People's Bank of China (PBOC) cut the reserve requirement ratio (RRR) for all banks as much as 100 basis points to 18.5%, effective from 20 April, the central bank said in a statement on its website.

Although growth in the first quarter reaching government targets around 7% for 2015, a slowdown in a number of areas, including industrial output and retail sales have raised concerns, according to the Xinhua report related to the announcement. Trimming the latest, which is the deepest cuts since the global financial crisis in 2008, shows how the central bank continues its efforts to prevent a sharp slowdown in the economy.

Chen Kang, Shenwan Hongyuan Securities analyst, said that cuts more than expected. The action will be releasing at least trillions of yuan, he said. However, the latest RRR cuts are considered more defensive by some economists, especially for causing the increase in capital outflows that deplete the amount of money that berdar, making it more difficult to push down real lending rate. Nevertheless, China's banking sector has proved reluctant to increase the amount of credit, said that they were also seeking to maintain profitability and reduce the amount of bad loans, but their attitude that seems to make the Beijing frutrasi.

News and Review of European Economic Zone (Germany)

German Producer Price Index Up Thin in March

Monday, April 20th, 2015

German producer price index rose slightly in March from February, but compared with the previous year still showed a decline largely due to a sharp decline in oil prices since the middle of last year.

Destatis reported the producer price index rose 0.1% in March from February which also rose 0.1%, largely driven by the increase in fuel prices by 4.4%. However, the increase in March was lower than expectations of economists surveyed by MarketWatch of 0.2%. Compared with March 2014, the index slipped 1.7%, but still better than the decline in February by 2.1%. If it does not take into account the price of fuel, the index rose 0.1% from February, and down 0.5% from March 2014.

News and Review of European Economic Zone (Greece)

Greece Has Time Until May 11 To Approve Reform Plan

Monday, April 20th, 2015

Greece has until the Eurogroup meeting in mid-May to approve the reform plan or potentially face a default, the Financial Times reported, citing an official of the European Union on Friday. Pierre Moscovici, European Commissioner for economic and financial affairs, said that the meeting on 11 May will be a defining moment for the Mediterranean.

"We still have two important meetings. The opportunity in a meeting in Riga on April 24 will have to be a useful moment in which we want to see real progress in the reform plan. And the next meeting on May 11 should be decisive," said Moscovici told the FT.

Greece at risk of running out of cash in the next few months unless they agreed reform initiatives proposed by international creditors. Achieving consensus on reform measures will open the flow of bailout funds for Greece next stage, which is needed to pay loans to the International Monetary Fund.

News and Review of European Economic Zone

Euro Zone Construction Sector Declines Sharply in February

Monday, April 20th, 2015

Eurostat reported eurozone construction sector fell 1.8% in February from January, and 3.7% from February 2014. The Strengthening an indication businesses and households are still hesitant to invest despite the euro zone economic recovery began to accelerate.

The construction sector began to drop sharply in 2008 when the euro zone financial crisis, and reached its lowest point at the beginning of 2013. The largest economy in the eurozone, Germany, is expected to lead the economic recovery kawaasan even recorded the largest decline in the construction sector, by 3.1 % from January, and 8.1% from the month of February 2014.

Some economists pushed the euro zone and Germany in particular to make the investment program which began to recover infrastructure obsolete. Mebteri-EU finance ministers last month called Juncker future plans Plan, the proposed program investasti Commmision European President, Jean-Claude Juncker. The program aims to channel funds worth € 315 billion in investment over four years to the 28 members of the bloc.