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News and Review of European Economic

European bond Induced S & P Action

Tuesday, December 6, 2011

European bond yields jumped back as the effect of the warning rating agency S & P overnight.

Credit rating was sentenced to 15 countries in a negative observation. Only two states are sterile from the observation S & P, namely Cyprus and Greece. Both countries already in the list of negative recommendations, while Greece has even received the title of high-risk rating CC or default.

Yield 10-year Italian bond rose 20 basis points to 6.05%. While the yield on 10-year Spanish bonds rose 4 basis points to 5.17% and France rose 6 basis points to 3.19%. The observed yields on German bonds rose 2 basis points to 2.23%.

Meanwhile, Europe's main stock index also appeared to slow due to action of the S & P. European Stoxx Index fell 0.3% to 242.1. While the German index, DAX 30, fell to 0.8% to 6,057.1. In France, the CAC index slumped 0.2% to 3,194.4, followed by Britain's FTSE, which slid 0.1% to 5,563.2. So far, the performance of European stocks helped by optimism resolution still ahead of the upcoming summit meeting December 9.

News and Review of European Economic

S & P warning Crush European Market Sentiment

Tuesday, December 6, 2011

European stock markets began trading Tuesday from negative territory following the warning from ratings agency S & P regarding the potential cuts credit rating of most members of the European Union, which eroded the optimism previously triggered by an agreement between Sarkozy and Merkel to implement the policy of tight budgets in the block.

Eurostoxx 50 indexes tracked continues to fluctuate between positive and negative areas, while the German DAX index and France's CAC move to weaken with each loss of 1.05% and 0.3%. In the UK, the FTSE index lost 0.2% in the first 2 hours of trading.

In a very surprising announcement market, Standard & Poor's decided to put the credit rating 15 of the 17 euro zone countries in surveillance, following a decline in credit conditions in the region. This agency is also projecting negative growth for some countries such as Spain, Portugal, Ireland or Greece, who are at risk of burdening the entire European Union.

News and Review of European Economic

Germans Data Push Euro Performance

Tuesday, December 6, 2011

The euro could move higher to hit a new daily peak at 1.3428 after the release of German data better than expected. The euro had earlier been hit by a warning pemeringakt agency S & P ratings which has placed 15 of the 17 euro zone countries in surveillance.

Demand in the German manufacturing sector recorded a sharp rise in October, which succeeded beyond expectations and showed toughness euro zone's largest economy in the face of the worsening debt crisis in the European region. German factory orders increased by 5.2% following a surge in overseas orders, according to German Economics Ministry reported on Tuesday.

From the technical side, Stoyan Mihaylov from Deltastock.com argues that the "penetration above the 1.3410 intraday potentially trigger a rally towards 1.3548 and 1.3670 next. Support may be found at 1.3333, 1.3258 and 1.3145."

Long-Term, Gold Bullish

Monday, December 5, 2011

Gold prices traded steady on Monday (05/12). Market participants are still awaiting the results of the eurozone meeting so many investors hold the position.

Today, French President Nicholas Sarkozy and German Chancellor Angela Merkel will meet to harmonize their respective visions. After that, the focus turned to a meeting of the European Central Bank (ECB) on Thursday and the EU summit ahead of the weekend. Although financial markets rallied last week thanks to the initiative of six central banks, the results of this summit is much greater.

Spot gold moved in the range of $ 1,743-1744.95 per ounce after rising nearly 4% on the previous week. While the United States Gold edged down 0.1% to as low as $ 1,749.10. Precious metals have the potential to rise higher in the short term.

Negative effects for the medium term decline in inflation came from China. Monetary easing Beijing's being done in order to boost the performance of manufacturing which dropped in November. On that basis, giving authority to the looseness of monetary policy support such as trimming the number Statutory Reserves last week. Easing of monetary policy suggests that the government is comfortable with the current inflation rate, a negative for gold.

For a longer period of time, the prospect of actually getting brighter gold. "Demand Korea's central bank last week is a sign that the proper collection of gold and help the world price level," said Paul A. Ebeling Jr., author and expert on financial investments. Bank of Korea bought 15 metric tons of gold from the London market is divided into several separate occasions. Thus, the total reserves of bullion banks had reached 54.4 tonnes till November. When news of this writing, spot gold was observed at $ 1,744.80 per ounce.

News and Economic Review Asia (China)

Debt rating China Defended

Monday, December 5, 2011

Dagong Global Credit Rating Beijing China maintains credit rating even though the fear of China's economic hard-landing.

Dagong told Reuters, defending AAA rating China's foreign currency debt and the ELO rating 'AA' for local currency debt countries, such as writing in a press statement that 'the fundamental character of rapid economic growth (in China) has not changed. Moody's assign ratings 'Aa3' debt to China, and Standard and Poor's assign ratings 'AA-' long-term debt to China.

Dagong, which is not widely known outside of China, China is the only agency providing debt rating to the approximately 50 countries. Some analysts say his views are often in line with statements from the Chinese government. In August, the United States Dagong downgraded some notes below its top rating and credit worthiness equivalent to countries like Spain, Estonia and South Africa.

News and Review of European Economic

Europe Will Get Short-Term Solution

Monday, December 5, 2011

Growing expectations that the European summit this week will finally issue a road map that could end the debt crisis of the European zone. Seeing the last developments, it is true that the euro zone will get a short term solution, but how far the success rate of these solutions is uncertain.

The problem is the proposal put forward by Sarkozy sebearnya Merkel is not a unitary fiscal integration in Europe but forcibly imposed fiscal discipline in Europe. Actually there are many member states are less pleased with the implementation of this policy, for example, in France itself, Sarkozy was attacked by the opposition Socialist Francois Hollande about austerity pact to be signed by Sarkozy. In addition, Ireland was less likely to require a referendum that approved by the people, while the Netherlands is also not agree on a proposal that gives the power to Brussels to control the budget at the national level.

On the other hand, the proposal met with him but if there is no alternative at all is collapsing. While from the viewpoint of market participants, the ECB is still an opportunity to respond to more aggressive action and solve problems. After the ECB signaled that they'd be more aggressive if there is a change in the overall fiscal Europe, investors anticipate changes in the pact that would become the foundation of the ECB to act further.

News and European Economic Review (Switzerland)

Urges Swiss Franc U.S. Dollar, Awaiting Report Production Sector

Monday, December 5, 2011

Census Bureau today (05-12) is scheduled to announce the latest developments in the production sector of the United States.

The poll results indicate the presence of a number of economists forecast that the indicator Factory Orders m / m can be decreased to -0.2% of the value in the previous period is 0.3%.

The value of running pair USD / CHF was observed in the range of 0.9209.

The possibility exists that shows an early decline in performance is sustained by the growing interest of investors in the forex market to rival the U.S. dollar is holding the Swiss Franc, so that the currency pair moves higher on USD / CHF.

News and Economic Review Europe (Germany)

Consider the German government Nationalization of Commerzbank

Monday, December 5, 2011

European stock markets rose sharply amid reports that Germany is considering nationalizing the two largest banking institutions in Germany, Commerzbank. Previously the bank reported that they need additional capital of about 5 billion Euros.

According to the German government's comments, if the second-biggest German bank is not getting enough capital until next year, the Berlin bank rescue fund will be used to pick up some shares of Commerzbank.

Executive Commerzbank Martin Blessing said the bank's Board of Commissioners, that some other steps could be taken to achieve the goal without government assistance, but the success rate will depend on the progress of European sovereign debt crisis.

Crude Oil Futures Gains Related to Middle East tensions

Friday, December 2, 2011

Oil rose sharply as investors anticipate an increase in U.S. labor markets at the same time the existence of tensions between Iran and Western countries has the potential to disrupt oil exports from the Middle East.

Crude oil futures rose 0.79% observed so far to as low as $ 101.02 per barrel, while as of earlier this week oil has rocketed 4.3% since European governments to tighten sanctions against Iran, which is the second largest oil producer in OPEC.

Fluctuations in oil prices is likely to be influenced by Iran's geopolitical factors, but in the short term are likely to respond to changes in U.S. employment data, if the report indicated the level of unemployment is still high, then the oil is still likely to sag again before rising further.

News and Economic Review Asia (Japan)

Nikkei recorded its biggest weekly rise in the last 2 years

Friday, December 2, 2011

Nikkei extends rise to record the biggest weekly gain in two years in the session on Friday, although the atmosphere is far from optimistic generate uncertainty over whether Europe next week will have successfully completed joint measures to overcome the debt crisis.

After strengthening over the world moves by central banks to reduce the tension of funds between banks, the Nikkei is now facing major resistance, including the movement of its average in 75 days.

The benchmark Nikkei rose 0.5 percent to as low as 8,643.75, for a weekly increase of 9.5 percent, the biggest gain since the first week of December 2009. In a positive technical sign, the Nikkei remained above the average movement in 25 days, at the level of 8573. The broader Topix index rose 0.6 percent to as low as 744.14.

European investors, which likely affected by debt problems in its own region, has been consistently selling Japanese stocks. Data from the Tokyo Stock Exchange on Thursday showed that foreign investors are net sellers of Japanese stocks for four consecutive weeks until last week.

Investors also remained cautious ahead of the summit of European pemimp on December 9 in Brussels.

European Central Bank President Mario Draghi yesterday hinted Thursday the central bank is ready to act more aggressively to combat Europe's debt crisis if the political leaders agreed on next week is more stringent budgetary surveillance in 17 European countries in the region.

News and Review of European Economic

Chancellor Merkel: We will be the European Pact Amendment!

Friday, December 2, 2011

As expected, Chancellor of Germany today gave a statement related to the development of the European situation. Angela Merkel claimed that Germany and France agreed to form a fiscal integration among euro-zone members.

"We're not talking about fiscal unity, but have entered the concrete steps," said Merkel. Both countries have repeatedly called for amendments to EU treaties in a variety of events. That way, executives can design area fiscal rules are applied equally to all members. The new pact will require all states to review the components of the national budget as well as follow the rules. In it also will be included sanctions for violating the government's fiscal discipline.

Merkel will meet President Nicolas Sarkozy on Monday (05/11) to describe the plans of both countries. After that, the blueprint the resolution will be discussed at the next European meeting December 9 in Brussels. "We are ready to go to Brussels for the European treaty change," said Merkel. Germany and France do not want a crisis such as this to happen again in the future.

News and Economic Review Europe (Estonia)

Industrial production Estonia rose again

Friday, December 2, 2011

Industrial production of Estonia increased despite the increase in these times tend to be slower than before, especially in October last, according to data released by Statistics Estonia.

Industrial production increased 2.4 percent on an annual periodic basis in October, the increase was much reduced from the previous month which achieved growth of 6.3 percent in September. Meanwhile, in August, the growth rate reached 28.8 percent.

While the production sector of manufacturing industry, rose 5 percent per year, while mining production drove 2.6 percent. Also added, there was an annual decline of 15.4 percent in the output of energy products for a month.

Meanwhile, on the basis of the monthly period, industrial production rose 2.9 percent that has been adjusted in October, recovered from the 10.2 percent decline the previous month.

News and European Economic Review (Switzerland)

USD / CHF: Dollar Swiss Soar, Resistance 0.9212

Friday, December 2, 2011

In trading, Thursday (01/12/2011), the opening price at 0.9128 USDCHF. The movement of this currency pair reversal naturally rises, begins weakening the basic level and then rebound to level 0.9068 0.9189 peak. Closing price at 0.9155, marked by a bullish harami candle.

At the end of today's Asian session, the currency pair is likely to rise is limited to an area of ​​0.9212 - 0.9234/0.9275 and furthest 0.9312/338 - 0.9358/395. If there is limited potential to decrease the area 0.9080 - 0.9058/9037 and furthest 0.8996/0.8975 - 0.8950/39. Expansion of resistance was in 0.9358,0.9395,0.9428, 0.9600,0.9862 and extension support in 0.8975,0.8950 / 39,0.8920,0.8892 / 86,0.8870 / 57,0.8821,0.8792,0.8758 / 46,0.8741 / 25,0.8699, 0.8671.

Furthermore, today's market participants focus on Swiss economic data 'Retail Sales y / y' (15:15 GMT) and the United States 'Non-Farm Employment Change', 'Unemployment Rate' (20:30 pm) that will be released today.

If this currency pair made ​​it through resistance at 0.9212 level will likely be potential targets to the next resistance level at 0.9234 and 0.9275 furthest ranges - 0.9329/38. And if on the contrary made ​​it through support at the 0.9105 level would likely potential target towards the next support level at 0.9080 and the furthest 0.9058 - 0.8996.

Gold Steady Above $ 1745

Thursday, December 1, 2011

Gold spot prices traded steady on Thursday, continuing a rally above 1.7% yesterday after the introduction of coordinated steps from the world's major central banks to boost liquidity of the dollar sparked a rally in commodities and stocks.

Gold closed the month of November with a performance gain by 1.9%, an increase in 7 consecutive months during the year. Gold is still observed so far gained 0.07%, to as low as $ 1747, after reaching the highest point on the daily level of $ 1,754.06, while the lowest level today at $ 1741.24.

Technically speaking, intraday bias remains bullish gold target area at least $ 1770 - $ 1800 in the short term, but still needed strong penetration resistance above $ 1,753 to trigger further bullish momentum. Turning again under the area of ​​$ 1725, can provide the current bullish outlook and potentially alter the technical outlook for continued consolidation in the neutral area of ​​the Fibonacci retracement of 38.2% to 61.8% drawn from the swing high swing low $ 1921 up to $ 1,532.

News and Economic Review Asia (Japan)

Nikkei sturdy because the central bank measures to calm

Thursday, December 1, 2011

Nikkei stock index soared to a level of increase in the last two weeks, through major resistance level on Thursday, after the world's central banks take coordinated action to reduce the tension of funds among banks caused by the debt crisis in Europe.

Measures the central bank to offer dollars cheaper funding easing concerns about the immediate crisis in the global financial system, but market participants remain cautious on the prospects for the resolution of the crisis.

Volume surged to its highest level since October 28, with 2 billion shares changed hands on the main board, up 29 percent of the average movement in 20 days.

The benchmark Nikkei rose 1.9 percent to a level of 8,597.38, rising above the 25 day moving average indicator around 8577 and rose at one point to the 8653 level, which is the highest level since November 14. The broader Topix index rose 1.6 percent to as low as 740.01.

However, indiscriminate selling by European pension funds continues, underscoring the potential pressures in the euro zone to push the market lower.

Shares of construction and the sender, the main benefit from increased economies of China, were among the top performer after China's central bank cut reserve requirements of commercial lenders on Wednesday for the first time in three years.

Construction machinery manufacturer Komatsu Ltd. jumped 7.2 per cent to 2.032 yen, while rival Hitachi Construction rose 7.3 percent to 1.423 yen. Shares of Mitsui OSK Lines shipments rose 8.4 percent to 259 yen.

News and Economic Review Europe (UK)

Sterling Outlook Still Fragile

Thursday, December 1, 2011

Sterling rose on the New York session, follow the trail rise in EUR / USD, after the success of the Spanish bond auction. Nevertheless, the rally sterling remains vulnerable due to gloomy economic data today, especially after the show contraction of the manufacturing sector for two consecutive months.

There is a relief after the Spanish managed to collect funds according maximum target although the cost of borrowing soared to its highest level in 14 years. "The dollar weakened after the ongoing auction of Spanish bonds, and these provide power for sterling to strengthen," said Michael Derks, strategic interviewed by Reuters.

Today PMI data confirm the continued contraction of the UK manufacturing sector which would worsen fears over the threat of recession stalking the economy. UK economic outlook remains grim and analysts warn the rally in sterling may not be sustained mainly by widespread concerns over global economic growth and protracted debt crisis of the euro-zone. "The economic outlook is not good English, and demand for the dollar is still strong. Can still continue strengthening dollar against many other major currencies," said Derks.

News and Review of European Economic

8 Days to Save Europe

Thursday, December 1, 2011

European policy makers will hold a summit on December 9 to discuss the agenda of the new European treaty changes to tighten regulation of the budget among the EU members.

The new pact is expected to tighten control of the budget among the 17 euro zone countries, which is the pedestal for the ECB to take additional steps to save the euro zone, as described by the President of the ECB, Mario Draghi.

Other agenda, regarding the issuance of bonds together seems still difficult to be accepted by the Germans, after Thursday's party center-right coalition Merkel once again confirms that the issuance of Euro bonds are not negotiable, close the door to France and other European countries are still seeking the move.

Ecofin achieved positive progress has been gaining momentum yesterday from the post-agreement market participants EFSF capacity additions, but investors are still looking forward to be wait n see, if the EU summit next week policy makers can achieve additional progress.

News and Review of European Economic

European stocks fluctuated on concerns the crisis and China's Economy

Thursday, December 1, 2011

European bourses staggered between up and down after concerns that the debt crisis spread and the Chinese economy is slowing auction results offset the auction results that showed increased investor demand for bonds of Spain and France.

Novartis AG and Roche Holding AG shares lead rise in health care, sedikitnaik gain 1.5 percent increase. Hochtief AG and Vinci SA fell after the airport agreement between them continues to fall. Norsk Hydro ASA fell 1.1 percent after predicting growth in aluminum demand will weaken.

The Stoxx 600 rose 0.1 percent to 240.41 level observed there at 1:28 pm London time after earlier falling by 0.8 percent. Index for this week has increased 8.5 percent in the post the current European leaders agreed to guarantee the issuance of sovereign bonds and central bank reduced funding dollars to the banks.

European shares rose 3.6 percent yesterday post the biggest gain in four days since November 2008 after the Federal Reserve and five other central banks lowered the cost of funding dollars and China cut the reserve ratio for banks.

China's manufacturing recorded its weakest performance since the global recession eased in 2009.

Gold sought again as save heaven

Wednesday, November 30, 2011

Gold rose kelevel highs in the last 3 days and move towards a second monthly gain, while the highest ownership rises as investors kelevel seeking perlindugnan against European and U.S. debt crisis.

Gold for contracts that will soon end up 0.7% to $ 1,727.50 per ounce, the highest since Nov. 18 of $ 1,721. Throughout this month, gold has gained 0.4% and move towards the strengthening of the eleventh annual. Futures contracts for delivery in February rose 0.4% to $ 1,725.40 an ounce on the Comex in New York.

Yesterday debt ratings of Bank of America Corp.., Goldman Sachs Group Inc.., And Citigroup Inc. lowered by Standard & Poor's 500, triggering a weakening stock. Meanwhile in Europe attempt to expand funding down € 1 trillion ($ 1.3 trillion), although policy makers have approved the expansion of the European Financial Stability Facility.

Cash silver fell 0.3% to $ 31.8625 per ounce, spot platinum was down 0.3% to $ 1,531.25 per ounce, and palladium fell 0.6% to $ 582 per ounce.

News and Economic Review Asia (Japan)

Nikkei ends down, caution in the euro zone continues

Wednesday, November 30, 2011

Nikkei stock index ended down on Wednesday session, reversing gains in the last two days due to profit taking as investors are still cautious about new developments eurozone debt crisis and wait for the data in this weekend.

Strategists said the Nikkei likely still close to 8400 levels because of the onvestor still waiting for the U.S. and Chinese manufacturing data on Thursday and U.S. employment data on Friday.

The benchmark Nikkei ended down 0.5 percent at 8,434.61 level, and down 6.2 percent in November. The broader Topix index fell 0.2 percent to a level of 728.46.

European finance ministers agreed Tuesday to strengthen the European Financial Stability Facility (EFSF) and said they consulted with the IMF on more aid when bond yields rise across the region. Some market participants welcomed the agreement, while others are still cautious about the involvement of the IMF.

Standard & Poor's cuts ratings 15 major U.S. companies and European banks, including Bank of America and Goldman Sachs, after the close of Wall Street also weighed on the market. S & P also lowered ratings outlook for Mizuho Financial Group and Sumitomo Mitsui Financial Group (SMFG) to "negative" from "stable." Mizuho and SMFG shares both fell 1 percent.

News and Review of European Economic

S & P Downgrade injures the European Banking Sector

Wednesday, November 30, 2011

Shares in Europe's main stock is traded on the red zone, after the decision of Standard & Poor's downgrade of large banks re-ignited concerns over the health of the banking sector and increasingly eroded investor confidence in this sector.

Eurostoxx 50 Index declined about 1%, while Germany's DAX index and France's CAC slipped harius respectively 0.7% and 0.9%. In the UK, the FTSE index moved 0.5% lower in the first 2 hours of trading.

Rating agency Standard & Poor's has decided to lower the credit ratings of 15 banks such as UBS, HSBC, Barclays, JPMorgan Chase & Co., Goldman Sachs and Bank of America following the change in assessment criteria.

In addition, concerns over debt crisis Eurozone is also still weighing on market sentiment, following the failure of European Union finance ministers in preparing detailed plans for expansion European Financial Stability Facility (EFSF) which has agreed to be increased by € 1 trillion from the previous € 440 billion.

News and Review of European Economic

There Is No Solution Concrete from Brussels

Wednesday, November 30, 2011

EU finance ministers (EU) gather on Wednesday (30/11) to discuss the region's economic improvement. Highlights include the recapitalization of banks, Eurobonds, economic governance and rapid response to regain confidence in the financial sector.

"Europe was entering a critical period, ie a response to the crisis stage of the European Union," said EU Commissioner Olli Rehn, shortly after arriving in Brussels. Rehn wanted to ensure that financial authorities have sufficient funds to stem the fortress market turmoil. Given the resolution of one part of 27 finance ministers is the guarantee for the availability of bank liquidity.

One delegation said that the European ministers are more inclined to choose a national effort in solving the problems of each country. Block also is reviewing the discourse of European stability, the implementation must change pact in the region.

Meanwhile, the 17 eurozone ministers on Tuesday night, wanting the management of the bailout by the International Monetary Fund (IMF). Rehn said that European governments have the same vision with the IMF on this issue. But the forum's ministers still have to figure out where additional funds will come from.

"The involvement of the IMF would make it an exclusive institution, it should be remembered that we have to realize that the IMF not only belong to the euro zone," the opinion of the Austrian finance minister, Maria Fekter. Therefore, European governments have to manage the provisions of the IMF's intervention in solving the crisis (if his involvement was agreed).

Talking about the fund, the United States have shown reluctance to provide extra bail. That attitude was shown in last month's G20 summit. Another discourse called the ECB should be more active in channeling the bailout. But again, the problem of limiting the authority of the will of the majority party. Dutch Finance Minister Jan Kees de Jager, warned that there are no shortcuts in this issue. "The lack of fiscal discipline has brought us into this crisis, so you must first address the underlying issues," he said.

News and Economic Review Europe (UK)

Some British Workers Strike

Wednesday, November 30, 2011

Teachers, hospital staff and border guards will participate in the biggest strike in 30 years; is certainly going to impose on the British government who were facing difficulties of economic weakness. Predicted 2 million public sector workers, who are members of various unions, participating in strike action in protest at the policies that force workers to pay more for pension funds and required to work longer before they can retire. The strike will disrupt a variety of government services including health care, taxes, schools, ports, and airports.

The government has uttered the need for reform so that people can live longer and more especially the inaccessibility of public pension funds. Prime Minister David Cameron condemned the strike as an act of irresponsible and urged the unions to continue the negotiations over the pension plan. However, the unions say the government is not willing to negotiate.

Meanwhile, sterling weakened in the London session. GBP / USD is now trading 1.5542, 1.5629 daily stay away from high levels.

Gold prices Predicted will continue to climb

Tuesday, November 29, 2011

SINGAPORE. Gold futures are expected to register gains in the second day. At 14:49 pm Singapore time, the price of gold in the spot market at the level of U.S. $ 1712.90 per troy ounce. In the previous transaction, the gold price was down 0.3%. Yesterday, gold prices had climbed 1.7%, which is the biggest gain in two weeks.

Well, today's gold price increases fueled by optimism that policy makers in Europe are working hard to resolve the debt crisis in Europe, thereby reducing demand for U.S. dollars.

"Investors can not be too optimistic or too bullish on the commodities market with the global economic situation such as this. Mengukung problem is not only Europe, but also the U.S. and China," said Jeremy Friesen, commodity strategist at Societe Generale SA from Hong Kong.

The rise in gold prices is also in line with the surge that occurred in the stock market and commodities.

News and Economic Review Asia (Japan)

Sector Consumption Pressure Yen Strengthens Against Euro

Tuesday, November 29, 2011

Ministry of Economy, Trade and Industry (METI) today (29-11) reported an increase in the consumption sector performance.

Release the actual data shows that the indicators Retail Sales y / y increase to 1.9% previously forecast to rise to 0.7% of the value in the previous period is -1.1%.

Currency walking pair EUR / JPY was observed in the range of 103.87.

Reports showing improved performance is sustained by the growing interest of investors in the forex market to hold the yen, so the currency is moving to strengthen the pair EUR / JPY.