mynameisandhy

Inventory levels Limiting Strengthening Oil

Friday, March 13th, 2015

WTI Crude oil rose throughout the Asian session, but volatile trading Thursday with investors digested news of interest rate cuts South Korea and the pressure of an increasing number of US oil supplies. The oil market is getting positive sentiment from the Bank of Korea's surprise decision to cut interest rates to a record low after several other central banks also choose to loosen its monetary policy to boost economic growth.

Total US crude supplies rose 4.5 million barrels to 448.9 million barrels over the weekend based on data from the US government agency Energy Information Administration (EIA). Oil inventories also increased by 23 million barrels at the delivery point Cushing, Oklahoma. Now, the oil market will oversee the development of the US and Iran discussions over its nuclear program and monthly reports to the International Energy Agency this week's.

Crude oil prices are now seen at $ 48.62 / barrel, with daily highs and lows $ 48.64 $ 48.00 daily.

News and Economic Review Zone Asia (Japan)

Aso: Weakening Yen Positive For Economy

Friday, March 13th, 2015

A weaker yen is positive for Japan's economy, according to Finance Minister Taro Aso on Friday, reiterated that the government's policy to stimulate the economy through aggressive monetary easing. Aso said that a weaker yen is basically positive for the economy, along with the decline in oil prices and low interest rates. The comments came after the yen touched its lowest level 7-1 / 2-year high against the dollar this week. A weaker yen has a mixed impact on the economy, while can help large exporters by making their products more competitive overseas, domestically oriented companies face difficulties in rising prices of imported raw materials.

The yen has weakened about 30% against the dollar after Prime Minister Shinzo Abe took office in late 2012, as he launched an aggressive monetary easing program that aims to ward off deflation. On Friday, Aso defended government policy, said many things that must be considered in assessing the condition of the economy and that the weakening of the yen has a positive and negative impact on the economy.

News and Review of European Economic Zone (UK)

British Construction Output Down in January

Friday, March 13th, 2015

Office for National Statistics reported the UK construction output slumped 2.6% in January, after rising 0.6% in December. It is unexpected that gives the estimated increase of 1.2%. The slump also is the largest since the end of 2013, and was dragged by a decrease in housing construction output. Total new home construction was down 5.0% in January from the previous month, and became the biggest decline since February last year.

ONS associate decline in January to the low realization of mortgage loans, as well as high home prices, and tight financing conditions. Some signs of a slowdown in the housing sector has been seen before, in the fourth quarter of 2014, orders for construction fell 2.9% from the previous quarter, which was suppressed by the decrease in housing construction by 6.5%.

News and Review of European Economic Zone (Greece)

Greece Will Not Be Getting Special Treatment

Friday, March 13th, 2015

Greece must present a detailed proposal on how he wants to get the current bailout program and did not expect that gets special treatment from the euro zone countries, according to a close friend of German Chancellor Angela Merkel on Friday. International lenders had frozen the Greek aid disbursement to see a new government reform agenda. Economists have warned that without the aid, Greece could go bankrupt in the next few weeks.

According to Volcker Kauder, parliamentary leader of Merkel's conservative party in the Bild newspaper, the current Greek government should focus on presenting the program to qualify a second aid package. Currently also open an appropriate time to discuss opportunities for third aid program for Athens, given that the European bailout rule also applies to other countries such as Spain, Portugal, and Ireland can not be changed just for Greece. Kauder said Greece will not get any special treatment, and the creditors will not be swayed by a statement from the Athens, following a dispute between Greece and Germany, which has long insisted that the state owes to do policy tightening.

On Thursday, the Athens accused the finance minister Wolfgang Schaeuble insulting German Greek society, worsen the bilateral relations between the two countries. Shaeuble denied the allegations, saying it is "unreasonable".

News and Review of European Economic Zone (UK)

British Intend So Creditor Bank Member Notching China

Friday, March 13th, 2015

The British government officially submitted a proposal as one of the members of the Asian Infrastructure Investment Bank (AIIB) commanded by China. The creditor institution established as a funding source for the infrastructure of developing countries in Asia.

China welcomes the intention of the UK to join the AIIB, but governments still have to consult with the other founding countries before knocking hammer. If there is no significant rejection, England will officially become a member AIIB at the end of this month. In a statement on the official website of the government, Chancellor of the Exchequer, George Osborne, said his country will be the first European country to take part in AIIB structure other than 27 other countries. Developing countries are already taking part first, among others, India, New Zealand, Indonesia, Thailand, Vietnam, the Philippines, Qatar and Oman.

China's decision to spearhead the establishment of savings and loan banks in the style of the World Bank and the Asian Development Bank (ADB) had not received the support of three major countries in the Asia Pacific region. United States even felt the move was unnecessary because existing creditor institutions are now able to accommodate the interests of its members.

Oil Record Closing Price Lowest Since February

Thursday, March 12th, 2015

Although able to rebound from 5-week lows, crude oil still recorded the lowest closing price since February on Wednesday following the release of US inventory data that showed a new record high. Further appreciation of the US dollar also weighed on 'black gold'.

Energy Information Administration (EIA) reported that US crude oil stocks rose 4.5 million barrels last week, which dampen expectations of a number of traders after industry agency data on Tuesday showed a slight decrease.

The increase in all nine consecutive weeks have brought the US oil inventories approaching 490 million barrels. The increase of 2.3 million barrels, including the growth of the supply of crude oil at the delivery point Cushing, Oklahoma, as reported by the data provider Genscape market recently.

News and Economic Review Zone Asia (China)

PBOC Zhou: Monetary Policy Will be Maintained

Thursday, March 12th, 2015

China's monetary easing implemented in the past four months managed to increase positive sentiment in China with a new loan rate for February rocketed to 1:20 trillion yuan so does the amount of money circulating in February were up by 12.5%. People's Bank of China (PBOC) twice cut its benchmark interest rate and one trim level required reserve ratio in the last four months to withstand the economic slowdown.

PBOC governor, Zhou Xiaochuan, apparently trying to defuse the high speculation on interest rate cuts this year by stating that monetary policy had a decent run so do not need to be changed. Zhou also viewed prediction kenikan US interest rates as a sign of improving global economy. China will also remove the ceiling on deposit interest this year and will launch a deposit insurance system in the mid-year, Zhou said at a press conference in Beijing in the grand event of the National People's Congress.

News and Review of European Economic Zone (UK)

UK balance of trade deficit narrows in January

Thursday, March 12th, 2015

The surge in services exports and reduction in oil imports make British trade deficit narrowed in January. Office for National Statistics (ONS) reported a deficit between the total value of exports of the UK with a total value of imports during the month of January for £ 616 million, from the previous £ 2.1 billion in December. Deficit in January became the lowest level since mid-2013 Britain is traditionally a net exporter of services to a record surplus of services since last 17 years, led by legal services, business consulting, and advertising.

While the goods trade deficit narrowed to £ 8.4 billion in January from December of £ 9.9 billion. However, the ONS said that British companies are still difficult to export goods, especially to the euro zone which is the main UK market. Exports to the euro zone were reported to be at the lowest level in the last five years.

Weak exports become a bottleneck for the UK economy throughout 2014, the monetary stimulus that the European central bank is expected to spur the economic bloc of 19 countries, the impact on British exports increase

News and Review of European Economic Zone

QE 3 Day Walk, the ECB has been Buy Bonds Worth $ 10.33 Billion

Thursday, March 12th, 2015

Member of the executive board of the European Central Bank, Benoit Coeure, said the ECB has been buying bonds with an average maturity of 9 years worth € 9.8 billion ($ 10.33 billion) in the three days after the quantitative easing program starts running. The ECB will conduct a total purchase of € 60 billion per month for euro zone government bonds, bond instruments issued by the EU institutions, and private assets to the month September 2016.

Coeure added ECB to do so in accordance with predictions, and are on the right track in March. He also said volatility in the market today, especially the decline in the exchange rate of the euro as investors begin to understand how the ECB QE program works, but the impact will be temporary. Said the euro zone economic recovery was gathering momentum, but the countries in the euro zone must still perform structural reform to ensure the long-term growth.

News and Review of European Economic Zone (UK)

RICS: House Prices in UK Rise More Than Expected

Thursday, March 12th, 2015

UK house prices rose more than expected in February, according to survey results that indicate the property of diminishing supply may be an end to the slowdown in the market. Royal Institution of Chartered Surveyors (RICS) said its monthly house price index rose to +14 in February from +7 in January, was above economists' estimates. UK housing sector market has slowed since mid-2014, when the government requires banks to examine more closely whether the borrower can pay the mortgage if interest rates rose sharply.

According to RICS, London meurpakan the only part of the UK where house prices fell, although the rate of decline slowed. Simon Rubinsohn, RICS chief economist said that this is a good sign considering the negative trend in the interest of buyers seem to fade, it is likely in part due to the increased level of confidence that interest rates will remain at a low level for much longer.

Look forward to EIA data, Oil Moves In Narrow Range

Wednesday, March 11th, 2015

After the American Petroleum Institute (API) reported a decline in US crude oil inventories on Tuesday local time, today's turn Informatioan Energy Administration (EIA) which will report oil inventories. Although analysts still expect an increase, but market participants expect a report from the same government agency to report the API.

API reported crude oil inventories fell 404,000 barrels to 439.4 million barrels in the week to March 6. Analysts had forecast a rise of 4.4 million barrels. While the EIA on Tuesday lowered the average price of WTI crude oil be $ 52.15 per barrel from $ 55.02 per barrel for 2015, and for 2016 was lowered to $ 70 per barrel from the previous $ 71 per barrel.

WTI crude oil moving in narrow ranges waiting for a report from the EIA 21:30 pm later, with daily highs $ 49.02; low $ 48.23, and traded the range of $ 48.76 per barrel

News and Economic Review Zone Asia (China)

Exit Simultaneously, 3 Chinese data released Negative

Wednesday, March 11th, 2015

China's economy proved to be slowed in the first two months of 2015. This is reflected in the decline in industrial production and investment assets of a report released by the government some time ago.

The results of industrial production or industrial output rose by 6.8% compared to January and February 2014 ago. Whereas in December, similar data was up 7.9%, according to the National Bureau of Statistics of China. Meanwhile, if compared on a monthly basis, industrial production increased by 0.45% in February compared to January 2015. Previously, the Wall Street Journal survey of analyst estimates industrial production rose 7.6% or above on real data today.

Industrial production report in January and February released simultaneously to reduce the distortion figures due to the Chinese New Year celebration. Given this moment often makes industrial production jumped sharply compared to regular months. While for the period December 2014 - January 2015, the government has not announced an increase or decline.

Separate data also show that the current fixed asset investments or fixed-asset investment in the non-urban areas increased by 13.9% between January and February 2015. The ratio of the increase was smaller than the annual percentage increase in 2014, which reached 15.7% and analysts estimate at 15.1%.

While retail sales report January-February 2015 are also not very good, only rose 10.7% compared to the percentage increase of 11.9% in December. Retail sales figures also do not meet analysts' estimates at the level of 11.5%.

News and Review of European Economic Zone (UK)

UK Industrial Production Down in January

Wednesday, March 11th, 2015

UK industrial production in January was surprisingly recorded a decrease, inversely proportional to the estimated increase by economists. Office for National Statistics (ONS) reported that industrial production fell 0.1% from the previous month were down 0.2%, while economists polled by Reuters forecast a rise of 0.2%.

Details of the report showed manufacturing production, which accounts for about 80% of the total industrial production, recorded a decrease of 0.5% in January from December were up 0.1%. The largest decrease was reported in the computer sector, electronics, and optics that recorded the largest decline since the beginning of 2002, by 9.5%.

For gas and oil production sector, the ONS reported an increase of 2.4%, helped increase in oil production in the North Sea, after the December production was reduced after treatment of the oil fields. Industrial production data from the ONS accounted for 15% of total UK economy.

News and Review of European Economic Zone

ECB's Draghi ECB Optimistic Stimulus Program Can Fix Inflation Expectations

Wednesday, March 11th, 2015

ECB President Mario Draghi commented that the ECB's decision launched a massive bond purchases by purchasing a wider scale is a policy that has been commonly applied by central banks globally.

The ECB will conduct the program with a value of $ 64.2 billion per month on euro zone government bonds, debt instruments issued by the European Union institutions and private debt instruments until September 2016.

But this stimulus program can be continued beyond 2016 if inflation is not showing signs of turning from the lower level to the central bank's target of close to 2%. As a result the euro fell to its lowest level in 12 years terhadak Dollar, sementata bond yields continued downfall.

According to Draghi, this asset purchase program should be able to boost inflation expectations so that investors are more confident to divert the flow of capital to risk asset markets.

News and Review of European Economic Zone

Draghi: Inflation to Rise Staged In 2015

Wednesday, March 11th, 2015

Mario Draghi maintain its quantitative easing program at a conference in Frankfurt after three days of the launch of the bond-purchase program worth 1.1 trillion euros her. Draghi sure the asset purchase program will successfully increase the Euro area inflation on target slightly below 2%.

In his first appearance since the launch of its quantitative easing program, Draghi pointed to a decrease in the yield of government bonds and the weakening of the Euro as a sign of the purchase program of public and private debt securities amounted to 60 million euros per month had an impact. Low exchange rate can generally increase inflation by making the price of imported goods become more expensive and exports goods become more competitive in the global market.

The consumer price index (CPI) reported a negative annual Euro area late last year became the first negative level since the financial crisis in 2009. The inflation data in February which has not reached the positive area, down 0.3%, adding anxiety deflation in the Euro zone. Draghi tried optimistic predicting a gradual rise in inflation this year

Crude Oil Flat Ahead of Data API

Tuesday, March 10th, 2015

WTI Crude Oil traded flat on Tuesday (10/03) await data from the American Petroleum Institute (API). Crude oil prices gained support from China's rising inflation, the country's second-largest consumer of crude oil world, which rose in February exceeded expectations. Although the producer price index has not signaled a recovery, crude oil trading market is quite optimistic respond inflation rate of 1.4% in February which is higher than the 0.9% increase forecast. The level of demand that is better than the predictions seem able to support the strengthening of crude oil in the middle of the dominance of the US dollar in the currency market. The high price of the US dollar will make diiperdagangkan crude oil in US dollars more expensive for investors holding other currencies.

Investors await the API crude oil supply data released today before the official data from the US Department of Energy, Energy Information Administration (EIA) on Wednesday. According to a Reuters survey, US crude oil supplies will extend the record surplus of nine weeks.

Crude oil trading is now in the range of $ 50.05 / barrel, with daily highs $ 50.36 and $ 49.92 daily lows

News and Economic Review Zone Asia (China)

China's Inflation Rate Increases Consumer Quick

Tuesday, March 10th, 2015

China's consumer inflation rate quickened in February, rebounding from a low levle 5-year in January, but the level is still in the factory price deflation, signaling a positive environment for additional stimulus from the government. The consumer price index (CPI) rose by 1.4% to an annual rate, higher than the expected increase of 0.9% and following a rise of 0.8% in January. However, the producer price index (PPI) fell by 4.8% in February, worse than the estimated decline of 4.3%, and following a decline of 4.3% in January. Stock markets opened lower after the data was released, the Shanghai Composite Index opened down 0.5% to the low level of the week, while the Hang Seng index fell 0.3%.

Grace Ng, China economist at JPMorgan, said on CNBC that the increase is a result of the Lunar New Year, so we have to look at the average in January and February, and even possibly in March to get a clearer picture of inflation. He added that, overall, inflation remains under control so that means there is still room for monetary policy side.

News and Review of European Economic Zone (France)

French Industrial Production Up in January

Tuesday, March 10th, 2015

Data from INSEE showed industrial production rose in France back in January after surging at the end of 2014, be a good start to the second largest economy in the European. After streaking 1.4% in December 2014, industrial production rose 0.4% reported back in January, breaking the 0.4% decline estimated by economists surveyed by the Wall Street Journal he.

If the French industrial production recorded an increase in two consecutive months, the Italian industrial production even recorded the first decline in three months. Istat reported the Italian industrial production fell 0.7% in January, breaking the 0.2% rise expected by economists. In the previous two months of industrial production are reported each rose 0.3% and 0.4%

News and Review of European Economic Zone (Greece)

Troika Will Financial Audit Greece

Tuesday, March 10th, 2015

President of the European Central Bank (ECB), Mario Draghi, warned of the critical situation faced by Greece and advise Greece to allow a representative of the euro area back to Athens if one wanted to get a grant. Draghi told the Greek Finance Minister, Yanis Varoufakis, during a meeting Monday in Brussels, the Greek government finances need to be examined to assess the financial deficit. This suggestion received support representative from the European Commission and the International Monetary Fund (IMF).

Greece accepted the suggestion and open up opportunities for the representation of the European Commission, the ECB, and the IMF begin its review on Wednesday (11/03), said Jeroen Dijsselbloem who chaired a meeting of euro zone finance ministers yesterday. Greece may face a crisis of cash within one to three weeks and without access to financial books Greece, difficult to assess deadline Greek default.

Greece will have difficulty getting further bailout of the aid program worth 240 billion euros to its creditors believe Greece will commit to all the necessary economic reforms, according the requirements of the program.

News and Review of European Economic Zone (UK)

BRC: British Retail Sales Stable in February

Tuesday, March 10th, 2015

Retail spending in the UK making shops stay busy in the normally quiet month is February, indicating a decrease in the rate of inflation has pushed the consumer sector, according to industry survey on Tuesday. The British Retail Consortium said retail spending rose by 1.7% last month compared to the previous year, up slightly from the increase of 1.6% in January. In February 2014, when bad weather adds to the slowdown in the rate of spending, sales rose 0.7% sebanayk. The survey amplifies the signal that British consumers feel more optimistic after the inflation rate slowed to just 0.3% in January and earnings rose faster last year.

Helen Dickinson, director general of the BRC, said that so far in 2015 is positive for retailers and consumers and not showing signs of a change in direction. BRC retail spending, which in addition to the new stores and further demonstrate how the store sales reports to shareholders, rose by 0.2% in the annual rate, the same as in January. Economists forecast growth rate of 0.4%.

OPEC Reluctant Cut Production, Oil Weakens

Monday, March 9th, 2015

OPEC insisted maintain its production to compete with the US shale oil and the strengthening of the US dollar into the load movement of WTI crude oil at the beginning of the week (3.9). Crude oil prices above the level of difficulty back to $ 50 / barrel, is now seen approaching daily lows, trading down 0.5% in the range of $ 49.35 / barrel.

Secretary General of OPEC (Organization of the Petroleum Exporting Countries), Abdullah al-Bardi in the conference in Bahrain on Sunday (03/08), said oil shale "is not a challenge for us". Badri also asked other OPEC members to use the divestment strategy to maintain the pace of the economy dominated by the oil trade. OPEC produces 30.6 million barrels per day in February, an increase of 163,000 barrels per day of crude oil led the world's biggest exporter, Saudi Arabia. Factors excess supply is still not out of the oil trade since the price is down almost 60% compared to last summer. Reuters reported, the world's largest investment bank, Goldman Sachs, and even predict the price in the range of $ 40 / barrel for crude oil in the coming period.

News and Economic Review Zone Asia (Japan)

BOJ officials: Exchange Japanese Yen Should Reflect Conditions

Monday, March 9th, 2015

Bank of Japan (BOJ) began to change his attitude about the performance of the exchange rate of the domestic currency. Deputy Governor Hiroshi Nakaso now turned confirms that the movement of the yen should reflect Japan's economic and financial conditions, not just views of the pros and cons of the government's economic and fiscal actors.

In a conference in the city of Matsuyama, Japan West, Nakaso expressed his opinion about the Yen exchange rate. He believes that the ideal conditions for the exchange rate is supposed to represent the condition of a country, not intentionally designed to benefit the employers and the government. His statement was not in line with the statement of the governor Haruhiko Kuroda, who repeatedly describes the various advantages of low Yen exchange rate on the domestic economy.

However, Nakaso not denied that the weakening yen is a benefit for some parties, such as exporters. Those who sell their goods abroad clearly more profitable when the yen weakened because product prices out to be cheaper. Instead, he did not want to comment on the trend of strengthening the dollar after last Friday's employment data and do not want to answer questions about how the ideal Yen exchange rate. The exchange rate of USD / JPY is now observed at position 121 018.

News and Economic Review Zone Asia (Japan)

BOJ Nakaso warns Impact of Oil Price Decline

Monday, March 9th, 2015

The Bank of Japan should return to loosen policy further if the decline in oil prices hamper efforts to boost inflation expectations rise, according to the deputy governor of the BOJ, emphasizing the central bank's readiness to add stimulus to achieve ambitious inflation target. But Hiroshi Nakaso also mengatkan only the decline in oil prices would not trigger a step further in the near future because the BOJ is focusing on whether inflation is accelerating as the support of a solid economic recovery.

Nakaso said the drop in oil prices may be pressing down the price level in the short term but will menodorng inflation rate in the long-term perspective for profitable oil importing countries such as Japan. He added that the BOJ will adjust monetary policy if there is a change in the trend of the price and if needed to achieve the inflation target of 2% faster. Nakaso also said the decline in oil prices since last summer has eroded Japanese income of about 7 trillion yen (58 billion dollars).

The decline in oil prices has slowed the rate of inflation annual consumer infto be 0.2% in January, enabling further easing by the BOJ this year. Nakaso said the BOJ are monitoring a number of indicators, not only the rate of consumer inflation, in assessing whether Japan is on track to achieve its inflation target, dismissed the view that the decline in oil prices will trigger policy measures in the near future. The time to achieve the inflation target of 2% may vary, depending on the movement of oil prices, but what is important is the overall price trend, added Nakaso.

News and Review of European Economic Zone (France)

Bank of France Crop Projections First Quarter GDP

Monday, March 9th, 2015

French economy will grow by 0.3% in the first quarter, according to the Bank of France on his latest business survey on Monday, revised down from a previous forecast at 0.4%. The central bank's business sentiment indicator showed a slight decline in February to 96 from 98 in January, while the service sector sentiment rose to 92 from 91. "Business leaders predict a sharper rise in industrial activity in March," according to the central bank, adding that they also estimate the strength of the services sector aktivita this month.

The government of President Francois Hollande expects a growth rate of 1.0% this year after growing by 0.4% last year. In his commentary this month, Hollande again voiced optimism that a gradual recovery is running.

News and Review of European Economic Zone (Germany)

German Trade Surplus Down In January

Monday, March 9th, 2015

The decline in German exports make surplus largest economy in the Euro zone in January reported to be lower than forecast. German exports fell 2.1% in January, erode its trade surplus with the level of imports were only down 0.3% in January. Overall the difference between imports and exports of Germany reportedly fell 0.6% to 19.7 billion euros in January, lower than expected surplus of 20.4 billion euros and the previous period with a surplus of 21.6 billion euros which was revised down from the previous report of 21.8 billion Euro.

Today the European Central Bank will start its quantitative easing program by 60 billion euros per month as one of the 19-block effort to distance the country from the threat of deflation. Meanwhile, Greece back into the spotlight of financial markets over 19 meeting Euro zone finance ministers will be held today to discuss the Greek reform proposals in an attempt to get further bailout funds before April