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Trying to rebound to 1738 gold

Thursday, March 1, 2012

Movement of gold at 1-hour chart is seen to rebound against the dollar. The technical indicator of potential stochastic is in bullish.

The outbreak of resistant 1726.63 will likely bring the price of gold moves up to 1738.00 to 1750.97 resistance. Beware if gold fell through the support 1711.58 and there is a tendency of gold will move down to 1699.52 to 1687.25 support.

News and Economic Review Zone Asia (Hong Kong)

Hang Seng Weakens Amid Week

Thursday, March 1, 2012

Hong Kong to ease the movement of post-2012 closed at its highest level in two previous sessions.

Hang Seng Index fell 0.7% to as low as 21,518.17. Rolled between the index range from 21.000 to 21.800 for eleven consecutive sessions. But could still upward when viewed from the market reaction following the release of corporate earnings data. Analysts to revise down its own enterprising Hong Kong corporate earnings projections. Some of the outstanding shares today are: Citic Pacific (0267.HK) fell 1.4% to HK $ 14.40. While China Overseas Land (0688.HK) performed worse with the correction reaches 4.8% to HK $ 15.48. Relatively moderate volume of market transactions worth HK $ 39.47 billion.

News and Review of European Economic Zone (UK)

Demand sluggish, lackluster British Manufacturing

Thursday, March 1, 2012

The rate of expansion of the UK manufacturing sector slowed in February after new orders both domestically and from abroad were little changed from January, while the cost of unexpected increases, the data from Markit and the Chartered Institute of Purchasing & Supply Thursday showed.

The data confirm that the economic climate remains uncertain economic recovery in the UK.

Domestic orders are burdened by weak demand after the public sector budget cuts continue to undermine the government, while foreign demand is affected by a lack of orders from the European mainland despite the demand from Asia and the U.S. grew.

Manufacturing sector Purchasing Managers' Index fell to 51.2 in February from 52.0 in January. With results in from 52.1 in January has revised previously reported.

PMI results surprised economists in a Dow Jones Newswires survey last week that forecast the index was unchanged at 52.1.

News and Review of European Economic Zone

European stocks higher after PMI data

Thursday, March 1, 2012

European stock markets rose after the euro-zone purchasing managers' survey showed a very mild economic recovery and as investors await U.S. jobs data today.

The Stoxx Europe 600 as margin notes mild increase in the level of 264.47. On the Wednesday session of the index recorded a decrease after Federal Reserve Chairman Ben Bernanke gives hope for the next round of quantitative easing, while giving testimony before Congress.

Stocks that recorded the largest increase in the index, Cable & Wireless Worldwide PLC jumped 19 percent after the Times of India reported Tata Communications Ltd may make a bid for the British telecommunications company. Vodafone Group PLC said last month it was considering bidding for the C & W Worldwide. A spokesman from the company's C & W declined to comment, while representatives of Tata Communications can not be contacted.

Britain's FTSE 100 index outperformed the major indexes, up 0.4 percent on 5899 levels. Man Group PLC rose 8.3 percent after it reported an increase in funds under management during the first two months of 2012 to $ 59.5 billion and said investor sentiment had improved since late last year.

European stock market struggled for direction in early trading after the Markit purchasing managers index for the euro zone showed activity in the region shrank at a slower pace in February, unchanged from the initial estimate.

In France, the CAC 40 traded lower, down 0.3 per cent, at 3,442.85, weighed down by Vivendi SA shares are down 8.9 percent. Media and telecom group reported record net income adjustments for 2011, but said they expect tax competition and higher profits weaken in 2012 and 2013.

In Germany, the DAX 30 rose 0.2 percent to 6866.12 level, supported by rising shares of BASF SE which rose 0.8 percent, and Bayer AG rose 0.7 percent.

News and Review of European Economic Zone

European unemployment rate increased

Thursday, March 1, 2012

The unemployment rate in the euro area increased beyond expectations in January, rose to its highest level since the inception of the euro, official data showed Thursday.

In a report, Eurostat said the euro region tingkatpengangguran increased to 10.7 percent in January in seasonally adjusted, rose Of the 10.6 percent in December, a revised increase of 10.4 percent from the previous report.

Analysts expect the jobless rate will drop to 10.4 percent in February. The unemployment rate in Europe, was at the level of 10.0 percent since January 2011.

According to the dat, a number of unemployment in continental Europe as much as 24.32 million in January, where 16.92 million of whom are in the European Union kawasn own.

Compared with the results in December, the number of unemployed increased by 191 000 in the 27 EU member countries and 185 000 in the region of Europe.

Gold prices predicted will continue to climb

Wednesday, February 29, 2012

Gold prices predicted to rise in London. At 09:34 pm London time, the contract price of gold for fast delivery gained 0.1% to U.S. $ 1785.55 per troy ounce. In the previous transaction, the price of gold was sitting in the position of U.S. $ 1790.57 per troy ounce, its highest level since 14 November last. If calculated, so far this month, the price of gold has increased by 2.8%.

Meanwhile, the price of gold contract for April delivery fell 0.1% to U.S. $ 1,787 per troy ounce on the Comex in New York. For your information, the price of gold has jumped 14% so far this year, once in 2011 and then rose 10%.

One trigger is the rise in gold prices at which investor speculation the European Central Bank funding will boost demand for gold. "The surge is benefiting from the fear of the abundance of liquidity in the foreseeable future," said Andrey Kryuchenkov, an analyst at VTB Capital in London.

For your information, a Bloomberg survey shows, European Central Bank expected to guarantee the banks in the region in the long-term refinancing operations with a value reaching 470 billion euros or U.S. $ 633 billion. ECB had done a similar operation on December 21 last with a value of 489 billion euros.

News and Economic Review Zone Asia (Korea)

Kospi Ends On Positive Zone

Wednesday, February 29, 2012

Kospi closed 1.3% positive at 267.75. The U.S. market following the index gain. Analysts say foreign investors are still the main contributor to the strengthening Kospi where most of the Korean stock purchases.

"The share buyback is carried out by foreign investors is likely to continue until March, but the rate of gain was slower than in January and February," wrote Daewoo Securities. The index will still be burdened by the strengthening of oil prices. Hasi auction market awaited the ECB LTRO today.

Samsung Electronics soared 1.8% to its highest level in KRW1, while LG Electronics 206 000 +3.5% to KRW85, 400. Auto manufacturers gained after being weakened. Hyundai Motor +3.6% to KRW216, 000. Shipping stocks also rose due to increased orders. Daewoo Shipbuilding + 5.1% to KRW35, 950. Korean market on Thursday (01/03) close to the holiday.

News and Review of European Economic Zone

Await the action of the ECB, the majority of European markets turn green

Wednesday, February 29, 2012

The majority of European markets opened verdant, today (29/2). The stock market rose further in the blue continent for the second day, when the market awaits the details of the loan of the European Central Bank (ECB) to banks in the Euro zone.

Europe Stoxx 600 Index rose 0.3% to 265.22 at 8:08 pm in London. Meanwhile, during February, the benchmark European stock markets has gained 4.2%. Meanwhile, the Euro Stoxx 50 index rallied 0.37% and DAX index advanced 0.43%. However, the FTSE 100 index declined 0.03% thin.

ECB will allocate loans for the second phase of banking in the region. Analysts surveyed by Bloomberg estimate, the central bank will disburse loans worth 470 billion euros. Previously, the first stage of the loan has been granted a number of 489 billion euros in December.

Jonathan Sudaria, a trader at Capital Spreads rate, the trader now has two different expectations. "Is the injection of liquidity from the ECB will push the market up higher, or whether it will mark the end of the peak gain in the stock market," he said, today.

Meanwhile, the release of the issuer's financial performance was expected to influence market movements. A total of 25 issuers will release its financial statements today. Meanwhile, from the 219 listed companies that have reported their performance, as many as 111 companies deviated from the predictions of analysts' performance, but 96 other issuers succeeded beyond expectations.

News and Review of European Economic Zone

The euro strengthened against the dollar ahead of the LTRO

Wednesday, February 29, 2012

The euro strengthened against the U.S. dollar, as investors await the decision pembiyaan long-term operation of the second three-year European Central Bank today.

In December, EBC issued 489 billion euros in loans to three years more than 500 banks, preventing the breakdown of liquidity in the banking system and reduce the pressure of European bond markets in the region.

The euro came under pressure on Tuesday, after the Irish prime minister said his country would hold a referendum on new EU fiscal pact, which proposes tough new budget discipline in each country euro zone, including public deficit close to zero.

Terpantrau euro had hit 1.3486 against the U.S. dollar during recent trading in Asia, the second highest level since the currency is February 24; which then undergoes consolidation at the level of 1.3476, up 0.13 percent. The euro weakened against the pound but strengthened against the yen. Fell 0.06 percent against the pound hit 0.8458 and gained 0.10 percent against the yen hit 108.38.

On this day, the Finnish parliament will decide on the bailout of Greece, while the U.S. will release its fourth kuatrtal initial GDP.

News and Review of European Economic Zone

Allocate ECB eur 529.5 billion for the Banking Sector

Wednesday, February 29, 2012

European Central Bank on Wednesday to allocate eur 529.5 billion ($ 713.4 billion) in loans to euro zone banks through the Long Term Refinancing Operation (LTRO) round-2 which may be completed within a 3-year period. In operation, the bank receives a loan with a duration of 3 years fixed interest rate of 1%.

Most economists had expected the bank would only borrow in an amount not far from? 489 billion in funds allocated to the ECB's long-term liquidity operations the first round last December.

The first LTRO ECB in December last been able to reduce anxiety about the funding of the banking sector, which helped encourage investors to return to collect the assets at risk and lead to bond market rally in the Euro zone.

World Oil Continue Weakness in Asia

Tuesday, February 28, 2012

Continued weakening of world crude oil trade on Tuesday (2/28/2012) in Asia with concern rising oil prices would cost the world economy.

U.S. light sweet crude oil fell 64 cents to U.S. $ 107.92 per barrel through electronic trading on the New York Mercantile Exchange (NYMEX) for delivery in April. While Brent crude fell 47 cents to U.S. $ 123.7 per barrel in London. So quoting cnbc.com.

"People are worried about the rapid rise in prices for oil. We will see a correction before prices start rising again," said Tetsu Emori, of Astramax Co. in Tokyo.

Upward trend in oil prices further warming of relations with Iran and U.S. ally. They suspect Iran of developing nuclear so as to give sanction to stop imports from Iran.

Brent crude has risen to 11% in February 2012. Upward trend in oil prices, have also been reminded of the IMF because of the potential global economic pressure. Brent record occurred on February 24, 2012 reached U.S. $ 125.55 per barrel. While U.S. oil has touched the level of U.S. $ 109.95 per barrel.

Rating agencies, S & P has cut Greek debt rating to selective default. S & P expects continued Greek debt swap program to reduce the debt burden. Currently, Greece continues to follow the schedule resturkutisasi large amount of debt. On March 8 the deadline for bondholders to participate in the swap swsta bonds.

News and Economic Review Zone Asia (Hong Kong)

Led by the property sector, Hang Seng closed up

Tuesday, February 28, 2012

Hong Kong stocks close higher today supported by a thin property and financial sectors of China ahead of earnings reports are scheduled to be announced after the market close.

Hang Seng closed up 1.65 percent at 21568.73 level. China Enterprises Index closed up 1.92 percent to a range of 11761.3. Shanghai Composite Index fix previous flaws and closed up 0.2 percent at 2452.86 range of gains for eight consecutive sessions and a closing since 17 November last.

Chinese banks to increase booster Hang Seng after the government allowed a new loan even though the new government lending operation completed 60 per cent.

Industrial and Commercial Bank of China Ltd. and China Construction Bank Corp. to be the best rise to the strengthening of their respective 2.7 percent and 1.9 percent.

Sung Hung Kai rose 2.6 percent after it announced its earnings in 2011. Country Garden Holdings Co Ltd, rose 3.4 percent in 2011. Evergrande Real Estate Group Ltd rose 4.4 percent.

News and Review of European Economic Zone

The unemployment rate rose in Hungary

Tuesday, February 28, 2012

Hungarian central statistical office released data that the rate of unemployment in Hungary rose more than economists had expected in January.

The unemployment rate in December at 10.7 percent, rising to 11.1 percent in January. The unemployment rate is a rate slightly higher than expectations of economists expected.

The unemployment rate among youths aged 15 to 24 year range increased to 27.1 percent in January, whereas in the previous month amounted to only 3.26 percent.

In Hungary, there are about 474 700 people unemployed in January, after the month of December there were 459 000 people. While the number of unemployed youth during the month was 78 300.

While the level of performance in Hungary also declined after reaching 50.2 in December, while in January to 49.8.

For the number of people employed also decreased from 3.85 million to 3.82 million people, according to data released by the local statistics.

News and Review of European Economic Zone

BNP Paribas Optimistic Euro Reaches $ 1.40

Tuesday, February 28, 2012

The euro will continue strengthening the banking sector to access funds if the ECB is more than cheap? 500 billion when the central bank liquidity facilities carried out three years, according to BNP Paribas strategic. "Injections of greater liquidity can relieve anxiety about the funding needs of European banks. This means it can weaken the U.S. dollar so as to encourage the strengthening of the euro," said Ray Attrill, strategic leadership of the BNP Paribas forecast EUR / USD reached $ 1.40 in mid-2012.

According to Barclays Capital survey, the ECB may be as much liquidity injections? 450 to? 600 billion while doing a three-year liquidity auction on 29 February. Attrill also optimistic that the euro will gain positive sentiment from reduced concerns over Greece's debt problems. "Distribution of bailout funds will be able to encourage the purchase of Greek government bonds of Europe. This means that there is flow of funds that go to Europe so that it will encourage the strengthening of the euro, "said in an interview with CNBC Atrill.

News and Review of European Economic Zone (Spain)

Skip the Spanish deficit target

Tuesday, February 28, 2012

Government to formulate policies that can help lower the deficit in the current economic activity is shrinking. The budget deficit for 2011 reached 8.5% of GDP, lower than the publication of 2010 by 9.3% of GDP. But the deficit still higher than the government estimate of 8% and 6% EU target.

"We will create budget stability as soon as possible. We are in recession and this means that its budget policy necessary to remove Spain from the recession," said Finance Minister Cristobal Montoro. The European Union has set a deficit target of 4.4% Spanish GDP for 2012; but the Prime Minister Mariano Rajoy wants Europe to review the targets. Montoro said the government will send the latest budget data to Brussels at the end of the week as a review.

European Commissioner, Olli Rehn, the 2011 budget is still waiting for data to decide whether Spain Madrid need to do additional budget cuts this year. The European Commission will also examine whether the magnitude of last year's deficit is temporary or permanent, and whether there are errors in central or local government.

Meanwhile, the euro still keep strengthening in the London session. EUR / USD is now trading 1.3430, not far from the level 1.3462 daily high

World Oil Performance Limit Asian Rally

Monday, February 27, 2012

In general, although the observed positive Asian stock markets earlier in the week (Monday, 27/02), but its movement is limited because investors are still looking wary and worried by oil prices that soared up above the level of $ 109/barel.

Market into a panic because of high oil prices is feared could adversely affect the industrial sector so that it will also contribute to slowing economic growth. Nevertheless Asia stock index was observed quite sturdy because Wall Street trading closes this weekend is quite varied. This occurred amid optimism economic reports better than expected. Additionally share positive wind coming from the summit of the G-20 two days in Mexico.

The leaders of the G-20 reportedly agreed on additional funding from the International Monetary Fund. This funding is conditional upon an increase in euro zone rescue package. And European issues will still be the focus of this week, as reports of finance ministers and central bankers from the world's biggest economies called for Europe to immediately provide more funding to combat the debt crisis in the region. Especially before the international community to give more assistance. However, rising oil prices and the threat to domestic recovery, return restrain the rate of reinforcement index.

News and Economic Review Zone Asia (China)

China Stocks Rise; Automotive and Oil Lead Benefits

Monday, February 27, 2012

China stocks higher, with carmakers and oil companies led the gains. Shanghai Composite rose 0.7% to 2457.50 at midday, with analysts tips direct resistance at 2500.

"Investors are hoping for fine tuning monetary policy further (after cutting Beijing's latest RRR), set a positive tone for the broader market, going forward we expect further gains ahead. With some minor corrections along the way," said Minsheng Securities analyst.

Among the most active stock, rising car in response to recent government measures to promote domestic brands: SAIC Motor up 1.3% at CNY16.21, BYD rose 2.9% to CNY27.28.

Oil companies rising crude oil prices supported higher; local oil services companies likely to benefit from price increases 10% since February 1.

China Oilfield Services rose 4.8% to CNY18.27, and Sinopec added 0.5% to CNY7.67. Shenzhen index rose 1.1% to 983.53.

News and Review of European Economic Zone

The results of the G-20 Rally Euro Strengthens on Top $ 1.34

Monday, February 27, 2012

Started this week (Monday, 27/02) in general global markets have positive momentum, so it is not just a rally in the forex market but also a number of bourses in Asia this day moving average in the green zone.

The single currency Euro gains continue today mainly thanks to the latest steps of the meeting of countries that are members of the group-20 (G-20) in Mexico last weekend. G-20 finally agreed to support and help finance the IMF (International Monetary Fund) in bailout aid funds to countries that were in debt. And plan fund raising will begin next April

In addition it is also related to euro rally continued risk appetite ahead of the European Central Bank liquidity operations to the stage-2, in which the central bank this week expected to shed low-interest loan fund around? 500 billion to the banking sector. Strengthening of the single currency Euro is started after the release of the German data which improved on last week, making some investors cut their bearish positions. However, a number of people argue that the ECB's operations are also likely to cause problems in the long run, and this makes the market a little upset.

And economic fundamentals will be the focus of today's market is the housing price growth data from the UK (Halifax house price), then the money supply data from the Euro zone as well as from America had been due to the release of data on Pending Home Sales are predicted to be positive for the housing sector.

News and Review of European Economic Zone (UK)

Prospect of economic recession in Britain has eased

Monday, February 27, 2012

Sterling rose against the euro was recorded on Friday, up from initial correction, and noted the continued rise against the dollar as demand from corporations. But the expectation of the possibility of continuing stimulus program from the BoE will likely limit the appreciation of sterling.

Sterling initially fell to its lowest level against the euro due to 10 weeks of selling pressure by investors after BoE policy board Paul Fisher said the outlook for the UK economy is still unclear and leaves the question whether further monetary easing measures will be needed.

The UK economic data released Friday showed Q4 GDP contracted 0.2% q / q annualized basis and to record the expansion was revised down to 0.7% from 0.8% originally reported. while business investment is still weak, the rate of re-growing after konsumei tend to weaken in recent quarters.

Prospect of economic recession in Britain has died down following the release of data ekonminya improved, but the BoE minutes from the last trial last week indicated that the loose monetary policy are likely to continue for a while. Within minutes last Wednesday is seen that two members of the BoE, David Miles and Adam Posen, proposes to inject fresh funds worth 75 billion pounds into the economy (greater than 50 billion pounds are injected BoE), which have increased the likelihood the central bank will continue its monetary policy loose in the year.

News and Review of European Economic Zone

European Outlook

Monday, February 27, 2012

• European Central Bank needs to look at the effect of multiple doses of ultra-cheap financing three years before taking the next policy and not required for the current action, the Governor of the ECB council member Ewald Nowotny said on Friday.

• He said no one really knows how much will be borrowed in the next tender in next week's three-year funding after the first offer ends in December close to 500 billion euros at the request of the bank.

• Tenders have been taken into account by playing a major role in the recent stabilisai the eurozone debt crisis.

• Cutting interest rates to zero and the negative impact would risk destroying an important part of the financial system, ECB policy makers Coeure Benoit said.

• In a speech in Miami Sunday, published by the ECB last Friday, Coeure also voiced the view that the ECB President Mario Draghi euro zone economy is stable and the expectations for improved gradually throughout the year.

• The German economy contracted 0.2 percent in the fourth quarter on plunging exports and private consumption indicated last Friday, but analysts said they expect economic growth to rise this year.

• Portugal make repairs expectations of the fragility of the economy from the rise of exports, Prime Minister Pedro Passos Coelho said last Friday, as the recession deepens and the country struggled to achieve the savings target is difficult.

Beware of Gold 1787.50 Resistant

Friday, February 24, 2012

Gold entered a phase of consolidation, moving in the range 1772.83 - 1787.50. The main trend is still bullish on the area where the trendline and support at 1772.83 is a pretty good area to look for a bullish signal. Note also the resistance level at 1787.50 because of the outbreak is expected to trigger bullish momentum returned to the target in the range 1796.56 - 1806.70. Beware breakdown of support at 1722.83 as it will transform into a bearish bias to the target area of ​​support in the range 1758.24 - 1749.10.

News and Economic Review Asia Zone

Stock Focus Asia Week

Friday, February 24, 2012

The focus of the Asian market next week will be focused on the manufacturing PMI report shows China's expected economic slowdown affected the European debt crisis, especially after the indicated new export orders hit by problems in Europe.

Further attention will be focused stability of the industrial sector in China as an appeal to continue to go on sale Apple iPad in China and China against the company's technology, Proview.

Japanese factory activity reports will also attract the attention of market participants to pay attention to signal whether the economy continues to gain momentum after a difficult year.

News and Review of European Economic Zone (Switzerland)

USDCHF 0.9000 knocked out of the Area

Friday, February 24, 2012

USDCHF decline phase of the 0.9300 level which began February 16 and seems still continues on Friday, with a further decline to below the 0.9000 level so far. Nevertheless, traders began to hesitate to push the currency pair is much after the appearance in the news that says that the SNB is preparing to push USDCHF rebound.

USDCHF is currently trading at around 0.8985 or approximately 0.25% below its opening price on Friday.

"Penetration of the 0.9080/66 support zone consisting of the lowest level in February 2012, its lowest level in November and 38.2% retracement of the upward movement since October 2011 has paved the way for a deeper decline towards 0.8960 which is 61.8% retracement of the move up 201 in October, "said Karen Jones, analyst at Commerzbank. Although it is still possible to reverse direction, Commerzbank analysts are unsure if the USDCHF will fall down to the 0.8788/69 area.

News and Review of European Economic Zone (UK)

British economy shrinks, GDP growth fell

Friday, February 24, 2012

The UK economy shrank in the last quarter of 2011, official figures reported Friday, while the overall growth for the year is lower than previous estimates.

Office for National Statistics (ONS) said that the economy contracted 0.2 percent in the last three months of last year, in line with previous estimates, mainly due to the decline in business investment.

Business investment fell 5.6 percent in the fourth quarter compared with the third quarter, down? 1.7 billion, equivalent to $ 2.68 billion to? 28.7 billion, the ONS reported. Manufacturing and construction output shrinks, while the dominant service sector flat.

However, household expenditure in the last quarter proved to be quite strong, up 0.5 percent compared with the previous three months after shoppers flocked to take advantage of huge discounts before Christmas, making it the first quarterly increase in household expenditure since the last three months In 2010, the ONS added.

The European Commission said Thursday that Britain is likely to avoid slipping into a recession due to a moderate rebound in growth in the first three months of 2012. A manufacturing survey by the Confederation of British Industry (CBI), which was announced Thursday, was the latest of a series of positive business survey that showed economic output is growing, and the commission estimates that UK gross domestic product will increase by 0.1 percent in each of two quarters The first year, and 0.6 percent for 2012 overall.

ONS Friday said it re-evaluate previous forecasts of economic growth in 2011 and concluded that weaker growth in the first and third quarter than expected, largely due to weaker output in the production sector. It said today they believe the UK economy rose 0.8% in 2011 overall, compared to previous estimates of 0.9 percent.

News and Review of European Economic Zone

European Corporate Earnings Reports Positive Response

Friday, February 24, 2012

Most of the stocks in the major European bourses traded higher on Friday, as solid earnings report from BASF and Telecom Italia to help reduce anxiety about the economic slowdown in Europe, although less encouraging news came from Lloyds to reduce its earnings outlook after experiencing large losses in 2011 ago.

German DAX and French CAC40 continue to move higher so far with each collecting 0.9% and 0.55%. Britain's FTSE index also still controls the green zone with a slim gain of 0.05%.

In addition to reported earnings, BASF is also targeting sales and earnings will recover in the second half-2, easing concerns that the business will experience a contraction this year. Rising dividends will be distributed to the shareholders of the largest chemical manufacturer in the world is also pushing the market enthusiasm.

"Micro-economic news has moved the market today. Increase in dividends BASF will also reflect the improved performance of similar companies," said Ian King, head of international shares in Legal & General. "While Europe was in a period of contraction, the company reported a relatively better show if the economy is not as bad as feared three months ago."