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Moving Oil Stable Asian session, the WTI Surviving at the Top Level $ 50

Friday, April 10th, 2015

Crude oil prices are steady in Asian trading session on Friday after volatility reached the highest level in a week, with oil prices moved above $ 50 per barrel.

On the New York Mercantile Exchange, light sweet crude for May contract traded the range of $ 50.75 a barrel, down by $ 0.04 in the electronic session. Meanwhile Brent in London rose by $ .015 be $ 57.84 per barrel.

Oil prices have risen in three of the last four trading sessions, with investors still closely monitor the level of oil production OPEC and the US, turmoil in the Middle East and Iran's nuclear deal.

On Thursday, Iran's supreme leader, Ayatollah Ali Khamenei said that the US and the partner that we should negotiate with the repeal of all sanctions on the country immediately after the end of the agreement reached.

His comments gave a bullish on Brent oil prices as they introduce additional political obstacles to complete the nuclear deal in June, the agreement has the potential to add 800,000 barrels per day of Iranian crude oil to the global market which is now abundant pasoaknnya, said analyst Tim Evans at Citi Futures .

News and Economic Review Zone Asia (Japan)

Nikkei Passing Level 20000, Strengthening Weekly Record

Friday, April 10th, 2015

Japanese stock market, the Nikkei, past the 20,000 level for the first time in 15 years in early trading, but must be ended lower at the close. Although weakened, the Nikkei managed to record weekly gain of 2.4%. Expectations will naikknya earnings of Japanese companies due to a decrease in the exchange rate of the yen to be a factor behind the strengthening of the Nikkei this week. The market expects Japanese corporate earnings will rise 10% to 15% this year.

Japan's economy is also expected to further improve, the Governor of the Bank of Japan, Haruhiko Kuroda, optimistic inflation target of 2% will be achieved in the current fiscal year if oil prices showed a gradual rise. At this week's meeting of the BOJ's monetary policy also confirms the recovery of the Japanese economy is still running in moderation.

Expectations of profit growth and economic improvement made in capital inflows to Japan. Reports from Japan's Ministry of Finance showed foreign investors net buying of Japanese stocks worth $ 8.61 billion last week, becoming the largest since the beginning of April 2013.

News and Review of European Economic Zone (UK)

The UK economy is estimated Slows in First Quarter

Friday, April 10th, 2015

UK economic growth may be slowing in early 2015, according to government data on Friday, potentially making the Prime Minister David Cameron is more difficult to get the sound to make the party re-elected. British industrial output barely grew in February, depressed by a sharp decrease in the level of oil and gas production, and the construction sector output contracted, according to government data. The data indicates the rate of overall economic growth in the first quarter of 2015 is likely to show a slowdown when the data will be released nine days before the election on 7 May. The pound fell to its lowest level in 5 years against the dollar after the data, while government bond prices rose.

Chris Williamson, chief economist at Markit, said that today's economy seems to be slowing down, and chances are pretty sharp. The UK economy grew by 2.8% in 2014, faster than other developed countries. But even before the data today, has no signal slowdown in the rate of growth in early 2015, including a contraction in the UK service sector dominant in January. Economists say that the data can not be interpreted as an economic slowdown this year, data from the ONS is usually lower than the private sector sector to the manufacturing sector, but the data may make the Bank of England to keep interest rates at a record low. However, this moment is a critical time for Cameron and finance minister George Osborne, which has become the focus of his constituents about the long-term economic rancana to restore the health of the UK economy after the financial crisis.

News and Review of European Economic Zone

ECB: Greece May Not Get All Funds Urgency

Friday, April 10th, 2015

Greece may not be getting all of the emergency funding they ask for their bank this week, according to two people familiar with the situation.

Bank of Greece asked the European Central Bank to approve the increase of 800 million euros ($ 860 million) to 900 million euro in maintaining their financial and active economy, said one of the sources. Both speakers are asked not to be identified because the talks are still confidential.

In the midst of ECB officials are preparing to hold a press conference to give an assessment of Greece on Thursday, Greek Finance Minister Yanis Varoufakis criticized the central bank policy makers to let his country in confined conditions in the middle of negotiations to release the assistance of an international bailout package.

"Eurozone teaches us about the paradox of central bank independence," said Varoufakis at the time at an event in France. "Efforts restriction of politicization Frankfurt has resulted in olitisasi central bank. I do not blame the Board of Governors. In their efforts to do some efficiency, because they had been politicized.

Greek officials this week said that they are targeting a meeting on April 24 with the Euro zone finance ministers as the deadline to approve new money. Cash crisis will peak in the summer, when the ECB needs to be paid back, meaning bailout deal needed before it.

News and Review of European Economic Zone (UK)

Inhibits Oil Price Decline of British Industry Revival

Friday, April 10th, 2015

Manufacturer British managed to boost production in February after slumping in January, according to official data released Friday. However, overall industrial output was slower than expected due to declining oil extraction.

Office for National Statistics reported manufacturing output increased 0.4% in February after falling 0.5% in January. Apart from the rise of British manufacturing, industrial production as a whole only rose at an annual rate of 0.1% and 0.1% on an annualized basis, hit by the deteriorating performance of extraction industry. Oil and gas production in February fell the most in 1-1 / 2 years, down 12% from a year earlier, according to the ONS.

Prolonged decline in production in the North Sea extraction industry has deteriorated in recent months, following a sharp decline in oil prices since last summer. The performance of the industrial sector has added to fears that the UK economy could slow down in during the first quarter 2015. And in an effort to boost economic growth, the ONS believes if factory production should rise 0.4% in March

US Crude Oil Supply The Abundant

Thursday, April 9th, 2015

Crude supplies increased by almost as much as 11 million barrels last week, the sharpest rise in 14 years, as a sharp rise in the level of imports, while gasoline supplies rose unexpectedly, according to government data Wednesday. Supply of crude oil rose as much as 10.95 million barrels last week to 482.4 million barrels, a record high for 13 consecutive weeks, according to data from the Energy Information Administration (EIA). Analysts expect an increase of 3.4 million barrels. Oil supplies at Cushing, Oklahoma, rose as much as 1.2 million barrels, also more Dair expectations. US crude oil imports rose as much as 869 000 barrels per day to 7.7 million barrels per day.

According to Tariq Zahir, a manager at Tyche Capital Advisors in Laurel Hollow, New York, the figure is the most bearish of some of this time, it is very surprising, even for someone who is bearish as himself. The level of oil production rose as much as 201 000 barrels per day to 15.9 million barrels per day, according to EIA data, still in high record. Refinery utilization rate rose as much as 0.7% to 90.1% of total capacity. Gasoline supplies rose as much as 817 000 barrels, compared with analyst expectations for a decline of 1.0 million barrels.

News and Review of European Economic Zone (UK)

Maintaining the Bank of England Monetary Policy Unchanged

Thursday, April 9th, 2015

The Bank of England on Thursday maintain its benchmark interest rate unchanged following the slowdown in inflation in the UK, where the phase of the election campaign began to enter the final weeks. In a policy statement released after the meeting in April, the BoE said the members of the Monetary Policy Committee voted to keep the benchmark interest rate at 0.5%. MPC also agreed to keep the amount of asset purchases unchanged at around £ 375 billion ($ 558 billion).

Annual inflation in the UK has slowed to zero level in February, the lowest price growth rate in more than 50 years. The slowdown occurred amid strong economic growth in the 3rd largest in Europe and the decline in the unemployment rate, thus reflecting if the sharp drop in oil prices and food inflation has eroded around the world.

While the BoE Governor Mark Carney and some other senior officials have signaled their belief that the period of low inflation in the UK will soon pass. So the next policy steps that may be taken is to raise interest rates, after more than 6-year hold borrowing costs at the level of emergency.

Referring to the interest rate derivatives that track the BoE's main interest rate, current investors expect the BoE will start raising its benchmark interest rate from a record low in mid-2016

News and Review of European Economic Zone (UK)

UK Trade Deficit Touch Highest Level 7 Month in February

Thursday, April 9th, 2015

UK posted its widest trade deficit in seven months in February as sales to the US and other countries outside the EU fell sharply.

The trade deficit reached 10.3 billion pounds ($ 15 billion) in February compared with a revised increase in deficit of 9.2 billion pounds in January, the statistics bureau reported by Britain on Thursday. Economists had expected for a deficit of 9 billion pounds for the month of February.

The figure left the question of whether the trade will continue to contribute to growth in the first quarter. Between December and February, the total deficit including services sector narrowed to 6.5 billion pounds from 6.9 billion pounds in the period from November.

Exports of goods fell by 3.7% in February, while imports rose 0.8%. Delivery of goods to the EU fell 0.3%. There was a decrease of 6.6% in exports to countries outside the EU, with sales to the United States fell by more than 700 million pounds to 3.6 billion pounds. Manufactured goods that dominate the decline in exports, the statistics bureau said English.

News and Review of European Economic Zone (Greece)

Greece Fulfill Obligations to the IMF

Thursday, April 9th, 2015

Greece managed to meet a deadline to carry out its obligations to the International Monetary Fund in April, according to a senior official of the Ministry of Finance on Thursday, as the country continued depletion of cash reserves.

Athens on Thursday to pay the loan installments amounting to € 460 million ($ 494 million) to the IMF, which is part of the bailout deal with international creditors.

In a meeting with IMF Managing Director Christine Lagarde last weekend in Washington, Greek Finance Minister Yanis Varoufakis has insisted that his government would not failed to meet the "obligation to the creditor". A commitment that is expected to end the growing speculation in recent weeks, that Athens may delay payments due on this day

News and Review of European Economic Zone (UK)

Halifax: UK House Prices Rise 0.4% in February

Thursday, April 9th, 2015

UK house prices rose in March as the strengthening of economic and terdongkraknya real wages have fueled the demand for property.

The average house price rose by 0.4% in February, it was reported by the lending institutions Halifax on Thursday. House prices rose by 7.8% from a year ago to 192.970 pounds ($ 266,000), although Halifax said that the pace of price increases may be eased this year.

House prices in the UK have the support of borrowing costs that are at a record low and the current wage growth beyond inflation for the first time since the financial crisis. A change in the property tax system to cut more costs for the majority of home buyers also helped the market.

Martin Ellis, economist at Halifax said that the demand for home to get the support of the growth of the value of the recent wage for the first time in recent years, interest rates are very low and changes to stamp duty in December.

For the three-month rate, the price does not appear volatile, prices rose by 2.6% from the previous three-month period. Meanwhile, the annual rate of price increase by 8.1%. Ellis said that the rise in house prices related to income in the household sector is supposed to limit the growth of danaktivitas. Halifax perkirakanbahwa annual price inflation will subside around 3% by the end of this year.

EIA report Stopping Oil Prices Rebound

Wednesday, April 8th, 2015

Crude oil prices fell sharply reversed in trading Wednesday after the US Energy Information Administration reported a jump in US crude inventories last week.

EIA said US crude oil inventories increased by 10.9 million barrels to 482.4 million barrels in the week ended April 2nd, as domestic oil output rose 18,000 barrels per day. The increase in inventories in 12 consecutive weeks that delivers the US domestic oil stocks to their highest level for at least 80 years.

Analysts had forecast US oil stocks will rise 3.4 million barrels. Currently berjangkan crude oil for May delivery contracts offered in the range of $ 51.80 per barrel, or about 4.1% below yesterday's closing price

News and Economic Review Zone Asia (Japan)

Preserve the Bank of Japan Monetary Policy

Wednesday, April 8th, 2015

In the monetary policy meeting, which lasted for two days, the Bank of Japan decided to maintain the monetary base policy worth ¥ 80 trillion per year, a move that had been expected by many parties. But board members Takahide Kiuchi, proposes trimming monetary base to ¥ 45 trillion, but he just became the only member who proposed it, while eight other members chose not to change the policy.

BOJ also reiterated Japan's economic recovery is still running in moderation. For inflation, without taking into account the increase in the sales tax, is at 0% and will remain in that range in a few months due to the slump in oil prices earlier. BOJ in April 2013 and then, the BOJ said large-scale monetary stimulus will bring inflation to reach the target of 2% in two years.

Meanwhile, in a press conference today, BOJ Governor Haruhiko Kuroda, said the inflation target of 2% is likely to be achieved in the current fiscal year if oil prices showed a gradual rise. Kuroda also asserted will not hesitate to add monetary sitimulus if necessary

News and Review of European Economic Zone

Eurozone Retail Sales Slump For the first time in 5-Month

Wednesday, April 8th, 2015

Eurozone retail sales declined in February after a record increase in four months in a row, indicating began to decrease the impact of lower oil prices on household purchasing power.

The European Union's statistics agency said Wednesday that retail sales fell 0.2% from January, but still 3.0% higher than the same month in 2014.

The sharp decline in energy prices in the last months of last year has given households more money to spend on other goods and services, thereby increasing consumer confidence and spending. However, the impetus seems to begin to fade away as the oil price moves tend to be stable in recent months. For the first time since September, gasoline sales decreased, which was followed by a decrease in sales of food and beverages

News and Review of European Economic Zone (France)

French Trade deficit shrinks in February

Wednesday, April 8th, 2015

French trade deficit narrowed in February from January as exports of equipment and satellite soaring cost of energy and oil and imports slumped, reported by French customs agency on Wednesday.

France, which is the country with the second largest economy in the euro zone recorded a trade deficit of 3.4 billion euros ($ 3.7 billion) in February after scoring a deficit of 3.7 billion euros in January.

Airbus to export sales rose to 2.3 billion euros from 1.7 billion euros in January.

News and Review of European Economic Zone (Germany)

German Manufacturing Orders Minus Low Demand for Foreign Affairs

Wednesday, April 8th, 2015

Figures manufacturing orders or orders for products factory of Germany declined in February. The low number of requests from abroad became the source of the drop in orders of goods made in Germany at the beginning of the year.

Orders for industrial products fell 0.9% in February compared to the previous month. It was quite disappointing because, according to estimates of analysts surveyed by the Wall Street Journal, this data will be up 1.5%. If there is good news, it is a revision of manufacturing data for January orders improved from the original report, minus 3.9%, to just minus 2.6%.

The number of orders from abroad into the main factor that reduces post ordering goods factory. The percentage decline at 1.6% per month, and at the same time the number of domestic orders remained stable.

Increase Optimism Over Corrected Oil Supply

Tuesday, April 7th, 2015

Oil fell slightly after rocketing sharply with the increasing demand in the US and Asia, at the same time Saudi Arabia raise the price of oil to Asian buyers.

So far the price of US crude oil futures fell -0.79% to $ 51.73 per barrel, after reaching the highest point at $ 51.99 intraday and daily lows at $ 51.68 per barrel.

Another factor that triggered the oil correction is rebounding US dollar caused by the soaring US bond yields on 10-year tenor of its lowest point in the last 2 months and managed to get back to the level of the yield before released nonfarm payrolls data.

The improving sentiment on the dollar also supported by the US unemployment rate stable at the level of 5.5% despite a decline in growth in nonfarm payrolls last month's figures. In addition there is a surge of optimism Iranian oil supplies after the deal early stage to reduce the embargo on Iranian oil exports.

News and Review of European Economic Zone (UK)

BoE Warn Banks England For Braces Risk "Greexit"

Tuesday, April 7th, 2015

The Bank of England has asked British banks to prepare an emergency plan that will be able to absorb the potential surprise of the escalation of the Greek debt crisis.

Minutes of the last meeting of the Financial Policy Committee indicate if the central bank put the turmoil in Greece today as one of the largest external risks that threaten the financial stability of the United Kingdom. Therefore, the BoE has been working with the Ministry of Finance and the Financial Conduct Authority's banking regulator to ensure that the emergency preparedness plan.

"The realization of one of the global risks identified by the Committee could lead to sudden shifts in global risk appetite. This may, in turn, will lead to a reassessment of the economic vulnerabilities in a large debt burden. Or even a sharp adjustment in the financial markets," said B0E policy makers, in minutes released Tuesday.

News and Review of European Economic Zone

Eurozone Economy Grows At Fastest Rate of 11 Months

Tuesday, April 7th, 2015

Based on a survey of purchasing managers, the Euro zone economy grew slightly below the preliminary reading in March, but still the fastest pace in 11 months.

These survey results add other signs that the euro zone economy began to rise from a long period of almost stagan, aided by low oil prices, the weakening of the euro, and the strengthening of confidence after the European Central Bank launched a new stimulus program.

However, although prices are rising, employers continue to cut their prices, it is an indication that the ECB does not want to rush to restore their target inflation rate in the range of 2%.

The ECB last month launched its quantitative easing program in which they make a purchase of more than 1 trillion euros ($ 1.09 trillion) to most government bonds until the month of September 2016, using the newly printed money.

Data from the company Markit, which surveyed more than 5,000 employers across the euro zone, on Tuesday showed manjaer purchase index, which measures activity in the manufacturing and service sectors, rose to 54 in March from 53.3 in February. Previous Markit PMI estimate will rise to a level of 54.1. Readings below 50 indicate aktivtas is declining, while a reading above 50 indicates will be strengthened.

News and Review of European Economic Zone (UK)

Industrial Services UK Back Stronger in March

Tuesday, April 7th, 2015

Growth in the UK service industries accelerated to the highest level in seven months in March amid strengthening economic momentum in the first three-month period in 2015.

Markit Economics said on Tuesday that the purchasing managers index rose to 58.9 from 56.7 in February. Economists had expected to reading to level 57. A reading above 50 indicates expansion.

The report, which taken together with the data of manufacturing and construction last week, suggesting that the economy will grow by 0.7% in the current quarter after rising 0.6% dpada end of 2014, according to Markit. British political parties are struggling to claim of economic competence with less than five weeks before the election.

Markit chief economist Chris Williamson said that the British economy strong in March. Faster growth of new business and the rising expectations of the prospects for next year is also a good sign for progress to maintain momentum as suppose to be moving through the spring.

Surveys in the service industry by Markit showed that the growth of workers still near record highs in March and there are "some signs of" inflation will rise, says Williamson. Survey last week showed that manufacturing expanded at the fastest pace in eight months in March, while the construction sector also grew.

News and Economic Review Zone Asia

Visit Chinese, Japanese Finance Minister will Question Purpose Za'atar

Tuesday, April 7th, 2015

Delegation of Japan and China are scheduled to meet in June in Beijing. One of the central issues to be discussed is about the establishment of the Asian Infrastructure Investment Bank, led by China.

Plan a meeting of finance ministers from two different countries is not a strange thing. But it is so interesting because it occurred at a time when the relationship between China and Japan has been stretched about two years. In addition to the border conflict, supposedly Japan also want to question the reason for China to form a new creditor banks named Asian Infrastructure Investment Bank (AIIB) on October 24 last year. According to the Japanese Finance Minister, Taro Aso, to the media today, the Beijing initiative alarmed other countries.

Japan has so far not want to join the AIIB although conceptually, this bank was established for the benefit of the region. China's decision to form a new bank that is regarded as the delegitimation of the Asian Development Bank (ADB), which was established by Japan since the 1960s. However, politicians in the land of cherry advise the government in Tokyo to consider joining AIIB because it can be profitable. Although the deadline for joining has passed on March 31, China may not object to enter Japan as one of the founding members. Former Japanese Prime Minister Yasuo Fukuda, even asked Prime Minister Shinzo Abe to participate in AIIB structure and took part in the making of the rules in it. But the government has not taken any decision, and could be the result of two finance ministers meeting next June can change the mind Abe. The last time the two countries held a ministerial meeting in April 2012, just before the emergence of the issue of border disputes in the South China Sea.

Oil Soar Due Selling Price Increase Saudi Arabia

Monday, April 6th, 2015

Oil jumped after Saudi Arabia raised the selling price of crude oil to Asia for 2 consecutive months indicate improvement in demand from the region.

So far the price of US crude oil futures rose 3:40% to $ 50.80 per barrel, after reaching the highest point at $ 50.90 intraday and daily lows at $ 49.47 per barrel. While Brent crude oil for May contract soared to a high $ 56.19 a barrel.

Despite Iranian oil embargo, but China's oil imports from OPEC producers still show an increase since August. While Saudi Arabia while maintaining production levels unchanged, but since April and May has raised prices to Asia.

From the supply side, the amount of shale oil drilling site in the US has dropped 11 wells to 802 wells

News and Economic Review Zone Asia (Japan)

Performance Survey, Report Card BOJ Governor Better than Prime Minister of Japan

Monday, April 6th, 2015

Japanese government and monetary institutions are working hard to accelerate the pace of the economy and increase inflation. The effect is yet to be seen however, businesses have their own judgment about the performance of two of the most influential people in the national economy, the Prime Minister and the Governor of the Bank of Japan.

According to 33 economists surveyed by the Wall Street Journal's media, the performance of Bank of Japan (BOJ), Haruhiko Kuroda, is still better than by the prime minister, Shinzo Abe. The survey was conducted as an evaluation of the economic acceleration even attempt lasted for 2 years since Abe was first sworn in as head of government. Both during this sharing role to bring Japan to the inflation target of 2%.

Survey period lasted from March 26 to April 1 2015 where each respondent are welcome to give value for Kuroda and Abe for its performance meet the inflation target. When asked how the performance Haruhiko Kuroda, as much as 3/4 of the respondents gave an A or B. In contrast when the same respondents were asked about Abe's performance, as much as 50% gives a value of C and only one person who gives A.

Economists who participated in the survey assessing Kuroda quite successfully execute the mandate of the central bank and only a small percentage who viewed Shinzo Abe is able to boost the economy with a variety of strategies. However, as much as 60% informants agree that the BOJ's monetary easing continued strategy and those who want a stimulus was stopped just a small part.

News and Economic Review Zone Asia (Japan)

Economists Stimulus BoJ Need Plus

Monday, April 6th, 2015

BoJ Governor Haruhiko Kuroda get a positive value of economists in its efforts to spur inflation Japan, but Prime Minister Shinzo Abe rated less than the maximum to boost the economic growth of Japan.

Survey of 33 economists in the US and Japan in commemorating 2 years Abenomics policy implementation, where Mr. Kuroda introduce radical monetary easing policy, supported by Mr. Abe to change the direction of deflation of prices, wages and spending levels continue to decline over the last 15 years.

Approximately ¾ economists give an A for Kuroda, while Shinzo Abe just get a report card B in assessing the performance of government officials to achieve the inflation target of 2%.

Although the value for Kuroda so high, but the survey of economists shows that the inflation target of 2% BoJ is still difficult to achieve due to the fall in oil prices beyond expectations. Therefore, about 40% of economists assess that the central bank needs to increase its stimulus in between the months of July to December this year.

News and Review of European Economic Zone

Euro Back Stronger In Outlook Payments Greece to the IMF

Monday, April 6th, 2015

The euro rose for a fourth day against the dollar after Greece promised to make payments to the International Monetary Fund (IMF) this week.

The single currency strengthened against nine of its 16 major counterparts after Finance Minister Dimitris Mardas Alternative Greece on April 4, said that his country would make a payment of about 450 million euros ($ 494 million) on April 9. The US dollar index maintains pelemahannya for three days after a report last week showed that employers added a number of workers were seen in December 2013.

"Quite a lot of market participants are of the view that Greece will make such payments," said Prashant Newnaha, analyst at TD Securities Inc. in Singapore. "If they make a payment, then it will have a positive impact on the euro."

The euro gained about 0.1% to $ 1.0984 at 15:59 pm, extending gains for a fourth day to 2.4%. The common currency rose by 0.1% to 130.72 yen. The yen was little changed at 119.02 per dollar.

Mardas in a wawancaea on Mega TV on Saturday said that his country will make payments to the IMF on April 9th. There is money to make the payment of salaries, pensions, and whatever is necessary for all of next week.

News and Review of European Economic Zone (Greece)

IMF's Lagarde: Greece Will Pay Debt on 9 April

Monday, April 6th, 2015

IMF official, Christian Lagarde on Sunday said that Greece will continue to work with international lenders and will perform key debt payments this week. Lagarde and Yanis Varoufakis, the Greek finance minister, held an informal meeting on Sunday.

"Varoufakis Minister and I agreed that effective cooperation is made all went smoothly. We note that the uncertainty that still persists not because of the desire of the Greek and I respond well to confirm with Greek Finance Minister will make payments on the debt tanggl April 9" Lagarde said. Greece will have to pay around 460 million euros ($ 505 million) to the IMF on Thursday. Lagarde also added that the IMF is committed to working with the government to help Greece "return to the path of growth and increase sustainable employment."

Greece today reached an agreement with the Euro zone and the IMF on this summer or will face a crisis and possible exit from the Euro zone.