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Coming to the Debt Swap, Gold-Dollar Performance Differences

Thursday, March 8, 2012

The price of gold and the dollar exchange rate ahead of the observed contrast of Greek bond exchange process. Reap the precious metal reinforcement in the middle of a correction the greenback.

Dollar exchange rate weakened by positive expectations of the debt swap a few hours. The dollar index looks down from 79 692 (U.S. session Wednesday) to 79 609 during the Asian session on Thursday (09/03).

While the euro exchange rate rose from $ 1.3154 to $ 1.3166. Against the yen, the single currency also rose from 106.80 to 106.95. Toward the central bank's interest rate decision the ECB and the bond swap, predicted the euro does not move much today. The reports said that Greece is almost close to the quota of participation of investors (66%) in the exchange of bonds, making market participants are optimistic. Meanwhile, European interest rates are also believed not to budge from the current level (1%).

Meanwhile, gold futures seen higher on this day. On electronic data, the Comex gold for April delivery rose $ 4.90 to $ 1,688.80 per ounce. Yesterday, the contract rose gold next month is $ 11.80, or 0.7% to $ 1,683.90.

News and Economic Review Zone Asia (Korea)

Bank of Korea keeps benchmark rate

Thursday, March 8, 2012

The Bank of Korea held the cost of borrowing for the ninth consecutive month as policy makers try to balance the risk of European debt crisis and rising oil prices contributed to the increase in price.

Governor Kim Choong Soo and the agency board agreed to keep the benchmark rate at 3.25% 7 days, as delivered by Seoul's central bank said in a statement today.

An increase in fuel prices continue to threaten the inflation rise amid signs of U.S. economic recovery and improvement in Europe's debt crisis. The increase in fuel prices is one of the biggest concerns of South Korea, as stated by the Deputy Finance Minister Yoon ShinJe.

South Korea's economy weakened since the third quarter of last year retained after internasionl economic uncertainty subsides.

News and Review of European Economic Zone (UK)

Sterling 2 days touch the top level against the dollar

Thursday, March 8, 2012

The pound rose to its highest level in two days against the U.S. dollar, as risk appetite increased sharply amid hopes that Greece is close to finalizing a swap of private bonds and securing a second bailout.

Market sentiment was boosted by a report on Wednesday that a large number of European financial institutions have signed a bond exchange deal, which aims to reduce the 53.5 percent of 177 billion euro debt of Greece.

The main Greek banks, along with large pension funds, also agreed to take part in the bond swap.

The demand for higher yielding assets also supported by the data of non-farm payrolls ADP Wednesday, which showed that U.S. private sector added 216,000 jobs in February, breaking down expectations for a gain of 205 000.

Sterling tracked the touch its highest level against the dollar in the last two days at the 1.5781 level in early European trade, which then undergoes consolidation at the level of 1.5768, up 0.17 percent. On the other trading, the pound against the euro scoop it fractionally, up 0.04 percent to touch the 0.8305 level.

Later that day, the Bank of England will announce its benchmark interest rate, while the U.S. government will release data on initial jobless claims.

News and Review of European Economic Zone

Above 1.3200 Euro Stable Ahead of ECB Rate Decision

Thursday, March 8, 2012

The euro gained on Thursday thin propped by positive news about the participation of private lenders for the exchange of Greek bonds that can determine the second phase of the bailout funding for the country.

Separately, the Euro and the dollar rose sharply against the Japanese yen after Japan's current account showed a deficit to a record high for the first time in three years in the month of January, triggering a sell Japanese Yen.

In Europe there is still hope some of the major banks and pension funds will participate in the Greek bond swap. Still eyeing the Greek target of 90% from private lenders will participate in the bond swap is actually very difficult. The percentage of private creditors agreed to swap their bonds will be the determinant of the direction of the euro currency next.

In addition market players will also wait for the results of ECB rate decision on Thursday's expected not to change interest rates will also be expected by market participants, followed by a press conference by ECB President, Mario Draghi after the central bank released its interest rate decision later.

News and Review of European Economic Zone

Euro Strengthens Next, Optimism Strengthens European Market

Thursday, March 8, 2012

After the move rebounded yesterday trading, the euro this afternoon (08-03) further push the U.S. dollar and has risen about + 80 pips or about + 0.61% and the scrolling seems to be in the range of 1.3228.

Destatis statistics office has just announced that industrial production in January grew 1.6%, and a jump in performance in December where shrinkage - 2.6%. The performance of stock trading on European bourses also showed a positive development to accompany the performance of the forex market.

EURO STOXX index of leading shares was observed on day 50 was increased by about + 1.69% at 2502.29, and the French CAC 40 stock index Index also increased by about +1.97 at 3459.05. While the German Stock Index DAX iu this day is also observed to move up quite sharply around + 2:04% at 6807.30.

Gold rose slowly, commodity prices fell

Wednesday, March 7, 2012

Spot gold is slightly offset in the range of 1,673,77 per U.S. dollar. Yesterday, gold fell to its lowest point since January 25 last in the range 1,6630,30 per U.S. dollar. The last time gold fell for four consecutive days was on 15 December.

Standard & Poor's GSCI Spot Index of 24 commodities fell 1.5 percent and the cap in the range of 692.61 yesterday in New York, the most severe decline since December 14. In the last three days as the dollar fell 2.6 percent which rose 1.3 percent against six other currencies including the euro.

The Greek government said it would make collective action to force creditors to accept the bond swap. European GDP fell 0.3 percent in the fourth quarter, according to data yesterday, they showed that the economy began to injury.

Silver, the metal with the best performance this year, down on the fourth day with the most severe weakening since September, down 0.4 percent to 32.8275 dollars per ounce. yesterday, silver fell to 32.48 dollars per ounce, its lowest price since January 25.

Spot platinum rose 0.4 percent to 1621.75 dollars per ounce and end the three-day decline. Palladium rose 0.8 percent to 673 per dollar, up the first time in four days.

News and Economic Review Zone Asia (JAPAN)

Continued strengthening of the yen, euro rebound

Wednesday, March 7, 2012

The yen continued its gains from yesterday against other currencies as Asian stocks are concerned about the ability of Greece to overcome the crisis and get a bond swap.

Australian dollar touched its lowest point during the six weeks after a report claimed that the country's economy rose less than expected. While the euro rallied against the dollar due to the belief that the currency is likely to rise after the doldrums for some time.

The yen rose to 106.25 per euro. Yesterday, the yen's a big rise since November 9 with a 1.6 percent gain. the yen rose 0.1 percent to 80.82 per dollar. The euro rose 0.3 percent to 1.3416 per U.S. dollar.

Euro rebounds after shrinking to a point touched 1.3111 per dollar today. Within six months, the euro fell 3 percent while the dollar climbed 4.4 percent.

Australia's GDP rose 0.4 percent in the fourth quarter of 2011. Previously the experts predict the GDP will rise by 0.8 percent. This makes the Australian dollar touched its lowest point since January 25 in the range of 1.0557 per U.S. dollar.

News and Review of European Economic Zone

Schedule of Significant Events of the Euro Zone

Wednesday, March 7, 2012

The following is a schedule of important economic events in the Euro Zone for the next few days:

- Mar 7 German finance minister Schaeuble met with Italian Prime Minister in Rone

- Mar 7 Van Rompuy of the European Union met with Prime Minister Juncker Luxembourg

- Mar 8 Petemuan ECB governing council and the latest prediction from ECB staff

- March 8 deadline for private creditors to participate in the PSI Greece

- May 9 meeting of the Eurogroup - the final approval to a package-2 Greek

- Mar 9 CACs Activation Greece

- Mar 9 Payment of Greek T-bill amounting to 1.455 billion euros

- Mar 9 quarter GDP data for Spanish-4 final

- Mar 9 quarter GDP data for Germany-4 final

- March 10 General Election Slovakia

- Mar 12/13 Meeting of Finance Ministers of the European Union

- March 12 meeting of the Eurogroup

- March 12 debt deadline PSI exchange are governed by the laws of Greece Greece

- March 12 meeting to approve IMF bailout package to Greece-2

- March 13 Italy T-bill auction (tenor 12-months)

News and Review of European Economic Zone (UK)

On Stagnant Sterling 1.5700

Wednesday, March 7, 2012

Today (07/03) sterling moved only 40 points in the range 1.5698 - 1.5738 after last night fell sharply due to the strengthening U.S. dollar. AKFinancials analyst said "the price support level was penetrated with a target at 1.5670 and 1.5650 strong support level."

GBP / USD at 1.5735. Currency continued to strengthen the resistance level at 1.5770 and 1.5810, clearly FXstreet.com analyst team. Support level at 1.5700, 1.5660 and 1.5620.

News and Review of European Economic Zone

Matter of policy, ECB Will 'Wait and See'

Wednesday, March 7, 2012

European Central Bank (ECB) faced with a dilemma situation ahead of the regular meeting this month. Although the pressure had eased the debt issue, the economic climate has not fully grown.

After cutting interest rates twice in the last two months, the ECB may not overhaul the policies at the meeting tomorrow. Since December, the authorities have also generously poured over 1 trillion euroke financial system. Set of policies that increasingly reduce the existence of further easing in the near future.

"We see interest rates of 1% will not change, but the policy bias is still likely to loose," commentator Stephen Webster, Market Analyst 4CAST. Not only that, Mario Draghi is also believed to be no plans to release a long-term funding operations three years (LTRO), at least in the near future. "The ECB is now wait and see whether the stimulus while monitoring the impact on the economy before the injection of new funds," said Frank Oland Hansen, Danske Bank Senior Economist. Flooding the market with liquidity is also not very good big for banking and financial mechanisms.

As noted in a letter from Jens Weidmann, Head of the Central Bank of Germany, who also serves as a board member of the ECB, to Mario Draghi last week. In his letter, Weidmann highlights the potential risks that could arise from the flood of ECB loans. It is considered vulnerable sparked speculation in the regional financial market. Thus, it is unlikely to change the policy for the meeting this week. In addition to already do too much, the ECB must also await the impact is clear from the previous policy, while waiting for the moments of the completion of the debt crisis.

The oil contract is still strong

Tuesday, March 6, 2012

Oil prices moved closer to its highest level in 2 days because of fears that Iran will hamper the supply of crude oil which weighed speculation that the global economy will slow down.

Oil futures declined slightly after rising 0.6%. Israeli Prime Minister Benjamin Netanyahu in Washington said today that Israel would defend its right to protect themselves and prevent Iran from nuclear weapons possession.

The world economy is expected to grow by a lower phase of this year, according to the Reserve Bank of Australia. South Korea's Finance Ministry said the country's economic uncertainty increases due to rising oil prices.

Oil contracts for April delivery rose $ 106.76 per barrel, up 4 cents at NYME. Last contract closed up 2 cents at $ 106.72, its highest since March 1.

April Brent contract fell 19 cents to $ 123.61 per barrel in London. European benchmark contract to New York at $ 16.85.

News and Economic Review Zone Asia (Korea)

Seoul shares closed down but still above the 2000 level

Tuesday, March 6, 2012

Seoul shares fell yesterday as continuing fears of China and Europe makes investors hesitant to invest. KOSPI closed down 0.78 percent but is above the 2000 level. KOSPI lows today at 1988.36 level.

Yesterday, the KOSPI fell 0.91 percent after China lowered its economic growth target to 7.5 percent. before this dibukahari Seoul market, manufacturing data from some zones Erppa show Europe's economic problems more complicated.

Foreign investors are not willing to take risks and menjuan stake of 234 billion won, daily sales ever dilajukan most foreign investors in a day since last December.

And material resources sector dragged down after China lowered its economic growth target to the lowest point over the last eight years.

POSCO, the third largest metal manufacturers in the world, fell 3.08 percent while Zinc fell 2.03 percent. Hyundai Heavy Industries fell 3.1 percent while STX Offshore & Shipbuilding down 3.17 percent.

The European Central Bank expected to declare on Thursday that they have done all the way to solve the European crisis by cutting interest rates and injections of funds some time ago. The European Central Bank is likely to give a last resort in each government.

KOSPI 200 closed down 0.72 percent while the KOSDAQ fell 1.13 percent.

News and Review of European Economic Zone

Europe opened lower, Peugeot shares fall

Tuesday, March 6, 2012

European stock markets fell on Tuesday session, with mining and banking sectors led the decline in each sector.

Europe Stoxx 600 Index fell 0.4 percent to a level of 264.45, with Peugeot SA shares fell 6 percent more on capital increase report.

Other shareholders who also recorded a decrease, Cable & Wireless Worldwide PLC fell 4.5 percent. RWE AG shares rose 4 percent after the power company reported results and an optimistic outlook.

German DAX 30 index fell 0.4 percent to a level of 6839.68 and France's CAC 40 fell 0.4 percent to a level of 3475.28. The FTSE 100 index fell 0.2 percent to a level of 5860.26, with mining stocks decline recorded in the board of trade.

News and Review of European Economic Zone

European markets fall stung Greek sentiment

Tuesday, March 6, 2012

European stocks slumped at the opening of the morning local time. At 08:08 pm London time, the Stoxx Europe 600 Index fell 0.5% to 264.31.

A number of large cap stocks hit by sell-off. Among other things, PSA Peugeot Citroen fell 6.1% after it announced plans rights issue worth 1 billion euro issue and will not pay dividends in 2012. In addition, there is also Novartis AG shares fell after JPMorgan Chase & Co. lowered its recommendation on the shares.

The sentiment that affects the movement of European markets including: investor concerns about Greece's debt restructuring and economic data expected to show contraction in the European economy.

"The uncertainty regarding the participation of private creditors related to Greece burdensome debt swap measures the movement of the stock today. Investors prefer to be cautious as we go along," said Jonathan Sudaria, London Capital Group trader.

News and Review of European Economic Zone

Impact of Euro exit Greece

Tuesday, March 6, 2012

If the Greeks out of the euro zone would be "a disaster" for the Greeks, European Commission President Jose Manuel Barroso told the Austrian newspaper Die Presse reported Tuesday edition.

"For the Greeks, it would be a disaster. We know what happened to the people of Latin America when they go bankrupt," he said, AFP reported.

"It will also have dire consequences for the other euro zone members, will trigger a domino effect," he added.

"And then we'll probably have to increase the assistance provided to other euro zone countries," he said.

Barroso stressed there would be no alternative to "huge savings" Greece as a condition necessary to receive a new package of financial aid.

"Of course we see that the austerity program seems to bring a recession, but it's the only way Greece can regain the ability to compete," he said.

"Bankruptcy will only poison the atmosphere for investors. And then there will be no growth, or economic stimulus," said Barroso in a two-day visit to Vienna.

Iran tensions push oil to strengthen

Monday, March 5, 2012

Oil rises kelevel terrendahnya in the last 3 days in New York after President Barack Obama said the possibility of using military force to stop Iran from developing nuclear weapons and after Enbridge Inc.. shut down the pipeline in Illinois.

Oil futures contract rose 0.6%, up from weak first week in the last 4 weeks.

Oil contracts for April delivery rose 59 cents to $ 107.29 per barrel on NYME of $ 106.92. Previous contract fell 2% to $ 106.70 on March 2, the lowest since February 28. Prices fell 2.8% last week and 1.4% higher than the previous year.

April Brent contract was dilevel $ 123.81 a barrel, up 16 cents in London. European benchmark contract versus New York at $ 16.89.

News and Economic Review Zone Asia (China)

Preparing the economy slows, China's growth target pruning

Monday, March 5, 2012

The global financial crisis began to spread into Asia. Today, Chinese Premier Wen Jiabao told parliament that economic growth this year is targeted at 7.5%.

Dilevel targeted inflation of 4% after the value of Chinese exports to Europe declined. Wen also said that the reduction is done to stabilize the economy and dampen price gejolah.

In the annual work report to the National People's Congress (NPC) or China's parliament, Wen said that the policy is intended to build a stable and strong economy, maintaining price stability and prepare for the supervision of financial risk and the total credit supply in accordance with an approach that carefully liver and flexible.

Decline in the growth target is expected, especially after China's exports in January fell by 15.3% over the previous year due to crisis in Europe that does not subside as well as one cause. Chinese exports to Europe rose 7.2% on the previous December 2011.

News and Review of European Economic Zone

European Exchanges Weakens China Steps Depressed

Monday, March 5, 2012

European stocks slumped in opening trade on Monday (03/05/2012) China's move to revise the growth target this year to 7.5%.

FTSE index was down 0.2% to 5896, the CAC fell 0.4% to 3486 and the DAX index fell 0.5% to 6883.29. Attenuation experienced the deepest mining stocks. European Stoxx 600 Index fell 1.1% due to decline in metal prices dragged down China policy. So quoting;

At the annual session of China's parliament, President Wen Jiabao cut economic growth target this year to 7.5% from the previous target of 8%. This gives room to the economy with the potential of slowing down.

"China's economic growth is slowing will have a negative impact on the world market and commodity markets. In the short term, this is a negative sentiment for risky assets," said Philippe Gijsels, head of research at BNP Paribas Fortis Global Markets in Brussels.

Asian markets continue to weaken as the Hang Seng index fell 1.3%, the Nikkei fell 0.8%, the Shanghai index fell 0.6% and the ASX index fell 0.2%.

News and Review of European Economic Zone

The euro fell against the yen, sluggish retail sales predicted

Monday, March 5, 2012

The euro fell against the yen before the fourth day of data expected to show retail sales of Europe will experience a third monthly decline.

The dollar index touched its highest point in more than two weeks before a report from the U.S. is predicted to show growth in service sector industries, creating speculation the Fed will do the relaxation of the policy to fade. While the Australian dollar after a sluggish trading partners, China, cut its development in 2012. The yen has strengthened after exporters bought the currency when he fell into the low point of the last nine months.

The euro fell 0.6 percent to 107 306 in London from yesterday's close. The yen rose 0.6 percent to 81.31 per dollar after a drop to around 81.87, its lowest level since May last year.

European retail sales are predicted to fall 0.1 percent in January from the previous month while retail sales fell 0.3 percent. The European Central Bank is also likely to keep interest rates in the range of 1 percent in the next meeting March 8.

In the last six months, the dollar has gained 4.1 percent while the euro fell 2.9 percent. in the same period, the yen slipped 3.9 percent.

The Japanese government will target economic growth of 7.5 percent this year, the lowest growth targets since 2004, Prime Minister Wen Jiabao said in Beijing today.

Aussie fell 0.2 percent to 1.0714 per dollar after falling 0.7 percent on March 2 last. against the yen, Australian dollar fell 0.7 percent to 87.16 yen.

News and Review of European Economic Zone

Stung by the issue of China, European markets slip

Monday, March 5, 2012

European stock markets stung by news of China's economic growth target pruning. Stock markets in the continent was the blue slip, post-gained in the previous two days. The Stoxx Europe 600 eroded 0.4% to 266.1 at 8:01 am in London.

Meanwhile, the Stoxx 50 index fell 0.55% and the FTSE 100 index fell 0.25% and 0.66% DAX trimmed. One of the big cap stocks that helped undermine the stock market, the Rio Tinto Group, which fell 0.9%.

Chinese Prime Minister Wen Jiabao said the government has cut its economic growth target for 2012 to 7.5%. In fact, in the last eight years, China has always aiming for economic growth in the level of 8%. The Chinese government will drive inflation was around 4%, no different from the previous year.

Besides the issue of China, the pace of strengthening European markets also hampered, as investors still wait and see attitude about the Greek debt restructuring. Investors are still waiting on how much the creditors who approved the debt restructuring.

If Brent U.S. $ 135, hit Asian economies

Friday, March 2, 2012

Nomura Holdings Inc. predicted the Brent oil price rises to the level of U.S. $ 135 per barrel this year could hit economic growth in Asia. A number of countries which will have a major impact on the rise among India, Korea, Thailand, and Philippines. These countries will be hit more powerful than China, Malaysia, or Singapore.

According to Rob Subbaraman, chief economist at Nomura's Asia, growth in Asia outside of Japan to fall to 6.1% from 6.6%, if oil prices remain at that level. He also added, in a worst case scenario, world oil prices will climb to U.S. $ 150 in the second quarter or later due to supply factors of financial speculation.

"If oil prices continue to climb, Asia will be affected by greater than most other regions. The U.S. economy's record growth, but Europe is in recession and emerging market economies began to decline," said Subbaraman.

Record, during last month, Brent oil prices have gone up 11%. This is the highest monthly rise in the last year, due to the issue of Iran sanctions.

News and Economic Review Zone Asia (Japan)

Yen to levels below the last nine months against the dollar

Friday, March 2, 2012

en fell to its lowest point in nine months against the dollar after a government report showed Japan's consumer price index fell, fueling speculation the central bank will expand to meet the objectives of monetary easing inflation.

The U.S. dollar strengthened against all currencies except two of the 16 major currencies after Morgan Stanley raised its forecast for the greenback. The euro strengthened against the yen after European Union leaders agreed to give the capital more quickly to the planned permanent bailout.

Observed yen fell 0.6 percent to 81.63 per dollar level after falling to a level at 81.71, its weakest since May 31. Japan's currency also fell 0.3 percent against the euro, to a level of 108.33 per euro. The euro fell 0.3 percent against the dollar to $ 1.3273 level.

Japanese consumer prices excluding fresh food fell for a fourth month in January, down 0.1 percent from a year earlier, the statistics bureau said. BOJ set an inflation target of 1 percent in February 14 and more than double the funds to purchase assets that target notes maturing within two years. The next meeting of policy makers will take place on 12-13 March.

News and Review of European Economic Zone

Prefer bank parking at the ECB Funds

Friday, March 2, 2012

The number of banks in the ECB overnight deposits rose 63%, this is a new record and intimated the abundance of liquidity after ECB injection of 529 billion Euros of funds into the financial system on Wednesday. Deposits rose to Euros 776 billion, surpassing the record of 528 billion Euros are recorded January 17 last.

The amount of bank deposits continued to increase since August 2011 as banks prefer to keep their money in the ECB rather than lending channeled to other financial institutions due to protracted debt crisis.

ECB liquidity facilities provided daoatkan praise indeed from various parties, including the IMF, because it has helped restore confidence in the euro-zone and prevent the credit crisis. But the IMF said the ECB's policy has not seen the impact of the credit markets. IMF lending is somewhat pessimistic in Europe with its stagnant lending in January, after declining sharply in late 2011.

Meanwhile, the euro weakened in the London session. EUR / USD is now trading 1.3258, 1.3332 daily high level away from

News and Review of European Economic Zone

European Stock Mixed in Early Trading

Friday, March 2, 2012

European stocks trading on Friday (02/03/2012) moves mixed after rising a week-long sustained policy of cheap funding facility from the European Central Bank (ECB).

FTSE index fell 0.03% to 5929, the CAC rose 0.06% to 3501 and the DAX index fell 0.02% to 6940. Asian stocks rose as the Hang Seng index rose 0.8%, the Nikkei rose 0.7%, the Shanghai index rose 1.4%, ASX index rose 0.4%. So quoting marketwatch.com.

Market-driven banking shares rose 0.5% with a step ECB launched the Long Term Refinancing Operation (LTRO). Experienced the highest strengthening Commerzbank shares rose 1.7%. Banking index in 2011 fell to 32%. But earlier this year, bank shares have risen 19% due to multiple steps in overcoming the crisis in Europe.

"The policy of the ECB and the fact that Italian bond yields decline has helped drive the market. Investors began to add to its portfolio. Although the banking sector have to be careful," said Keith Bowman, analyst at Hargreaves Lansdown.

President of the ECB, Mario Draghi said European banks greatly helped by the policy LTRO offering cheap cash injection of about 500 billion euros. This reduces the concern there is no solution to the crisis in Europe.

News and Review of European Economic Zone (UK)

Try Mute Attenuation Construction UK Sterling

Friday, March 2, 2012

Sterling weakened after a good try reducing construction data hinted England could please register economic growth this year. Construction PMI index rose to 54.3 for the month of January 2012, better than the previous prediction of 51.3 and 51.4 publications. GBP / USD is now trading 1.5925, trying to stay away from daily lows 1.5905