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News and Review of European Economic

Tend to Go Bearish EURUSD 1.3365 Target

Tuesday, November 22, 2011

Intraday bias neutral in the short term, but the overall outlook is still technically inclined downwards, where the strategy of short-sell on rallies more suited to market conditions at this phase. Prices have been moving sideways since 11 November, and found the prisoner support at 1.3425, tumbled & closing daily under the area potentially open up opportunities further reduction targeting 1.3365 area.

On the top, just above the penetration area of ​​1.3575 - 1.3615 could only stop the current bearish intraday outlook.

News and Economic Review Europe (UK)

GBPUSD 1.5475 Target Aims?

Tuesday, November 22, 2011

Intraday bias remains bearish in the short term, especially if the price had dropped decisively below the area of ​​1.5570 to 1.5475 after the target area.

Nearby there is resistance at 1.5610 area, translucent again over the area has the potential to trigger a correction of up targeting 1.5690 area, but as long as prices hold below the 1.5765 area as a whole remains bearish scenario intact.

News and Economic Review European (Spanish)

Jump in Spain Still Limit Yield Bond Strengthening Euro

Tuesday, November 22, 2011

Concerns the weak global economic outlook and the euro zone debt crisis still limit the strengthening of the euro against the U.S. dollar on Tuesday. In addition, the Spanish bond yield rising to a level of 5:11% for 3-month tenor, from the previous auction 2:29% to Euro nautical negative catalyst.

These cost increases more and add to the anxiety that bond yields have reached the level of risk, although the new Spanish government has elected to implement fiscal austerity measures. Fitch Ratings also commented that the new Madrid government need to spend additional austerity measures to meet deficit reduction targets.

Technically, the currency pair EURUSD intraday bias remains neutral with trading range forecast in the range 1.3425 - 1.3575 and the required penetration consistently blamed one new direction could provide a more clear trend. Dropped below the 1.3425 area will continue to bearish scenario targeting 1.3365 on short-term targets.

On the upside, strong resistance is still visible in the area of ​​1.3615, a new translucent area above can be changed into a bullish intraday bias for targeting 1.3810 area.

Lower gold; Trade Along With Risk Assets

Monday, November 21, 2011

Gold lower in Asia as trading in line with industrial metal and Asian equity markets amid continued risk aversion due to macroeconomic uncertainty centers on the eurozone debt crisis.

Spot gold traded at $ 1,719.90 per troy ounce, down $ 4.90 from the previous settlement. Analysts say the yellow metal will likely remain under pressure near term as the USD holds firm against USD; commodities priced in dollars become more expensive for investors holding other currencies when the greenback is stronger. EUR / USD is at 1.3523 from 1.3522 late Friday in New York

News and Economic Review Asia (Hong Kong)

HSI Down 2.0%; Market Will Remain Weak

Monday, November 21, 2011

HSI 2.0% lower at 18,124.93, marking the fifth consecutive decline, weighed down by concerns over the budget talks in the U.S. and euro zone debt issues.

"on issues of euro-zone debt and the U.S. deficit will continue to weigh on the market because investors are remaining cautious," said Soouth China Research.

Tips HK bourse to remain weak in the short run and test the support of 18,000 to the fore. Bank of China fell 3.1% at HK $ 2.48, after news of the Foundation Chairman of Cheung Kong, Li Ka-shing cut its stake in BOC H-Shares during 3Q (based on bank reports 3Q). Mild local bourse volume at HK $ 28.36 billion.

News and Review of European Economic

The European Single Currency Depressed

Monday, November 21, 2011

European debt crisis that continues growing risk sentiment weighed. Pessimistic European market players can get out of this crisis that hit the country.

In Asia, EUR / USD slowly rose after the U.S. failed to reach agreement on a predictable budget. Focus again fixed to the U.S. market. "Investors are not sure the problem will be quickly resolved with so many problems," according to Valeria Bednarik, chief analyst at FXstreet.com. "This week predicted the euro would be back at 1.3350/80 level."

EUR / USD at 1.3520 zone, about 10 points above the level when the market opened. If the currency continued to strengthen food resistance level will be in the range of 1.3565 and 1.3615, according to Ms. Bednarik. Support level at 1.3490, 1.3450 and 1.3425.

News and Economic Review European (Spanish)

Spanish election results prop the euro

Monday, November 21, 2011

The euro managed to rise last weekend and the last day following the news of the victory in the Spanish opposition welcomed the election of the market.

Conservative faction, Popular Party (PP), managed to win elections by winning 45% majority vote. People get rid of the Spanish socialist government, in power since 2004, as a form of dissatisfaction with its performance, such as high unemployment and massive debt.

Jose Luis Zapatero became the fifth rule, after Portugal, Ireland, Greece and Italy, who was ousted because of the debt crisis. Now, the new Spanish government to implement austerity and change to grow the economy and reduce debt.

Like the four countries, Spain also had a huge debt after converting its currency from the peseta to the euro, which is used for 100 years. Banking provides easy-to-business lending, encourage the property sector which ultimately collapsed when the financial crisis of 2008. Spanish unemployment rate reached 21%.

Last week, the Spanish bond yield approaching 7%, a level which dragged Greece, Portugal and Ireland became the recipient of bailout. But, as the fourth largest economy of Europe, Spain is too big to be helped.

The euro had soared to $ 1.3611 last week. Now that the euro still remain well above $ 1.35. Election results seemed only a temporary impact. These results have not changed the trend of the euro. Although the new government is formed in the fifth country in debt, the market should be reassured that they can implement change.

Italian and Spanish bond yield falls after ECB's entry into the market. But there are still concerns that yield the two countries rose again. Many believe that the ECB only have ammunition to overcome the crisis of confidence is spreading in Europe. They believe the only way to prevent the deployment in Europe is the ECB bond buying in bulk, or the same as Quantitative Easing (QE). Analysts expect the ECB will sooner or later forced to do so, even though we are still reluctant.

Debt and deficit problems in the U.S. heats up again. The Committee failed to produce a deficit reduction possibilities ahead of deadline decision Wednesday to find cuts $ 1.2 trillion in the next decade.

News and Review of European Economic

ECB urged the European Union launched soon EFSF

Monday, November 21, 2011

FRANKFURT. Prolonged crisis to grip the European Central Bank officials. President of the European Central Bank (ECB), Mario Draghi pressing EU officials soon to launch European Financial Stability Facility (EFSF). According to him, EFSF program should have been sliding since the financial recession was long and protracted as it is now.

The duration of application of this EFSF make some countries in the EU suffer from more severe. Draghi also reminded all parties that the next year, the European Union can not escape from the economic slowdown. "The economy most developed countries slowed as poor economic projections," Draghi said.

In order to reduce the suffering of the prisoners, the ECB buying bonds owned by the Italian and Spanish. The goal is that suppress the yield or yield and the country is to survive while awaiting the decision of the European Union.

Speculation Oil Prices Drop Seaway Plan

Friday, November 18, 2011

Crude oil slumped down on the New York session, widen the difference with Brent oil, the speculation that the reversal of the Seaway pipeline is not enough to trim the excess oil in the U.S. Midwest. West Texas Intermediate, the benchmark NYME. Oil fell more than 2 days after Brent Enbridge Inc.. and Enterprise Products Partners LP said their desire to reverse the direction of the pipeline, sending oil from Cushing, Oklahoma, to the Gulf Coast. Brent premium to WTI difference had narrowed to $ 3.74, eight-month lows on that day.

"Investors are beginning to realize they were excessive when the news was released Seaway pipeline," said Phil Flynn, analyst at PFGBest in Chicago. "The pipeline is not sufficient to remove the excess and this is not a bullish event." "It's excessive, and spreads have shrunk too far," said Chris Barber, senior analyst at Energy Security Analysis Inc.. in Wakefield, Massachusetts. "It takes a change sturktural to end the excess oil."

News and Economic Review Asia (South Korea)

Sued Apple, Samsung decided to redesign the Galaxy Tab 10.1

Friday, November 18, 2011

Samsung finally redesigned (redesigned) tablet computer products after several defeats in the Apple lawsuit. This type of tablet that in redesigning the Galaxy Tab 10.1. Apple objected because the design of Samsung's product is very similar to the look the iPad circulating in the European Union.

South Korean company said the results of the redesign will go on sale later this month. Some of the display is overhauled the design of metal frames and speaker device.

"Samsung decided to introduce this new version to meet consumer demand for our products are innovative and unique," said a spokeswoman for Samsung.

During these two giant companies are at loggerheads. Apple accused Samsung always steal or imitate the ideas he had.

News and Economic Review Europe (Greece)

Soon Greek Dialogue with Troika

Friday, November 18, 2011

Greece's new government will meet with international creditors troika consisting of the ECB, IMF, and EU-in order to secure disbursement of bailout funds to avoid bankruptcy. Athens has submitted a draft budget that does not reveal new austerity policies but will run the policy reforms that have passed the parliament.

However, there are differences between the parties supporting the coalition government of Prime Minister Lucas Papademos. Tensions arise between the Socialist Party with the New Democracy primarily by Antonis Samaras, leader of New Democracy, who refused to sign a commitment to execute the policy of economic reform.

Papademos should be able to embrace all parties to ensure that the prerequisites of Athens carried out a bailout or a troika will delay the disbursement of bailout funds needed to avoid default. As part of the process, representatives of the "troika" will meet with Papademos and party leaders on Friday and Saturday to discuss the disbursement of the next bailout worth € 8 billion.

News and Review of European Economic

Bond Yield Declines Italian & Spanish

Friday, November 18, 2011

Italian and Spanish bond yields have declined on Friday to respond positively purchases ECB action, to reduce pressure throughout the week due to fears that the debt crisis could spread to other eurozone member states.

Observed so far the Italian bond yields for 10-year tenure has dropped to 6.74%, while the 2-year yield fell 6% k, and the Spanish bond yield was reduced 10-year tenor to 6:41%. Although the action of the purchases made the ECB is still relatively small.

French bonds also eased, where Bonds 10-y spread German with French narrowed 0:11 percent points to 1.62%, after being widened 2 percentage points on Thursday.

Lowering bond yields coincided with the President of the ECB's comments, Mario Draghi to urge European leaders to immediately implement the zone EFSF as agreed several months ago.

News and Review of European Economic Zone

Draghi Urges Quick Action On Rescue Fund

Friday, November 18, 2011

Governor Mario Draghi European Central Bank on Friday said euro zone governments to act quickly to raise funds and run it, suggesting an anxiety response to the lack of progress in dealing with the crisis that is getting worse. ECB under pressure to play a more important role in handling the crisis zone of Europe. Reuters poll of 50 strategically in Europe and the U.S. showed an equal chance that the ECB agreed to print money.

German Chancellor Angela Merkel rejected a request from Prime Minister David Cameron to step firmly, explaining his desire for a step by step approach that makes the Germans refused a request to ask other countries support the ECB. "Request the UK to add reinforcements to regain the credibility of the euro zone's right," said Merkel. "But we can not pretend to have power. Because pasa will segere mengentahuinya." Draghi places responsibility on the government, saying they had failed to take practical decisions in favor EFSF.

WGC: Crisis Zone of Europe Still Support Gold In Medium Term

Thursday, November 17, 2011

World Gold Council has reported a trend of demand for gold during Q3 which showed an increase of 6% yoy to 1,053.0 tons, equivalent to $ 57.5 billion. Gold investment demand will still be a market mover Gold as investors in other parts of the world seek to diversify and expect high returns.

WGC Investment Director, Marcus Grubb said demand remains solid, especially from Central banks in Europe, where the trend of demand expected to remain strong through 2012.

Although there is finally a solution to overcome the debt crisis of Europe, the action may be taken is quantitative easing program that could eventually lead to rising inflation, and this factor can still sustain rising gold prices, said Marcus.

Gold decreased from the level of $ 1920 per troy ounce to a level of about $ 1550, and turned again to the area of ​​$ 1744 so far supported by the Central Bank purchases from various countries. Based on this, according to Marcus repetitions as the movement of gold in 1980, where there has been a sharp decline in gold after reaching its highest point is still a small possibility that has been caused by different situations.

In the 1980s, there were net sell of Gold by Central Bank in which Gordon Brown had sold 60% gold reserve to late 2002, while current net Central Bank indicated to buy gold to 350 tonnes, which is also the purchase of a new record.

Central Bank is doing a lot of gold purchases, especially from countries that have fiscal conditions and high trade surpluses, such as Russia, China and Latin America.

News and Economic Review Asia (China)

China's stock market fell, the lowest in 3 weeks

Thursday, November 17, 2011

Chinese stock markets today closed at its lowest level in three weeks after China's central bank issued a statement regarding the supervision of inflation and investors speculated that the presence of new shares in the register will be making cuts in funding from the old stock.

China Life Insurance Co.. and Ping An Insurance Group Co., as the largest insurance company in that State shares fell 1.3 percent after New China Life Insurance Co.. won approval from regulators regarding the public offering, initial public offering. Sinohydro Group Ltd.., Dam builders who began the trade [in the last month, its shares fell 0.9 percent. ZTE Corp.. became the leader of the telecom sector stocks, trying to hold katuhnya further market after the company declared that they would offer a computerized service for the State's largest user in the world.

IPO is conducted by the New China Life Insurance into the market while retaining for the IPO market players khawator make the market fall. Investors are also awaiting the latest developments of the European settlement of the debt crisis.

Shanghai composite stock index fell 3.91 points, or down 0.2 percent, to 2,463.05 level after the market trades back and forth at least nearly 34 times. CSI 300 index also fell 0.3 percent to as low as 2,662.02. Bloomberg index of China-US 55 rose 0.8 percent.

News and Economic Review Europe (France)

Need to Work on the French economy

Thursday, November 17, 2011

With a AAA credit rating threatened and potentially the economy slipped into recession then the French have to do economic reform or risk slumped in the euro-zone debt crisis. French economy is certainly more powerful than Greece or Portugal; but with the deficit ratio reached almost 6% of GDP and the size of banking exposure to the troubled euro-zone members of the Paris will be depressed if the debt crisis continues to drag on. This is reflected in bond yields continue to rise in the 10-year Greek government which has now reached 3.7% higher than the UK and the U.S. 2.2% 2%.

Although economists see room for fiscal maneuver France, but President Nicolas Sarkozy reluctant to take further austerity policy because it could jeopardize his position ahead of elections next year. Lisbon Institute think-tank has warned France not healthy fiscal position and calls for reforms in the labor sector, and the public. France currently has the highest ratio of government spending between AAA-rated countries, reaching 54% of GDP.

News and Economic Review Europe (Italy)

Risk of Recession Italian Experience

Thursday, November 17, 2011

Italy at risk of falling into recession as consumers began to reduce its budget; this will certainly work sulitkan Prime Minister Mario Monti to the economic revitalization of Italy, according to a statement Enrico Giovannini, president of the statistical office ISTAT. "The data show the people use some savings to maintain spending habits; where the savings rate is currently at 10%, lower than 15-16% a few years ago," Giovannini said when interviewed by Reuters.

"Households will try to set aside more money to fill the savings that have been spent, and this risk even further cuts in consumer spending," Giovannini said. When asked whether the slowdown in consumer spending will trigger a recession, Giovannini declined to comment specifically but hinted at the existence of such risks as he uttered "will be very low economic growth in 2012". On the other hand, the EU has predicted the Italian economy will grow by just 0.1% next year, lower than the government estimates that predicted a 0.6% expansion.

News and Review of European Economic

French press the ECB to intervene quickly

Thursday, November 17, 2011

France urged the European Central Bank (ECB) more aggressively implement policies to intervene in several countries hit by the recession. The goal is the root of the crisis did not spread to other states.

France pressed the ECB because of the position held ie AAA ratings could be cut because the yield or yield on Treasury bonds continued to rise.

"The role of the ECB is to ensure the stability of the euro and European financial stability. We believe the ECB will not stand by this insistence," said a spokesman for the French government, Valerie Pecresse.

Earlier, Finance Minister of France Francois Baroin also expressed a desire to EFSF Paris has a banking license. If this is done then the EFSF is possible to borrow funds from the ECB to provide extra ammunition to fight the European debt crisis. "France wants EFSF has a banking license in order to prevent further spread of the crisis," said Baroin.

Oil Price fall Related in U.S. Inventories

Wednesday, November 16, 2011

U.S. crude oil contracts slumped in early Asian trade Wednesday, reversing some previous disesi reinforcement associated rise in inventories in the U.S. that indicates the economic recovery in some industrialized countries.

U.S. crude oil contract dropped 18 cents to $ 99.19 per barrel, after rising $ 1.23 to stand at $ 99.37 per barrel, its highest closing level since July 26.

U.S. crude oil inventories rose unexpectedly while gasoline inventories showed a decrease in inventory, according to weekly data for the inventory report from American Petroleum Institute on Tuesday.

U.S. economy shows signs that the country is moving in the fourth quarter as an increase in retail sales in the month oktopber and manufacturing levels in New York this month for the first time since May.

News and Economic Review Asia (Hong Kong)

Hong Kong Exchanges Weakens Still Negative Sentiment Boosted European Condition

Wednesday, November 16, 2011

In trading on the Hong Kong stock exchange this morning a significant decrease (16/11). Hong Kong stocks moved lower despite the end of trading on Wall Street early this morning positively. Market players apparently still quite worried about the financial condition of the European region so that the negative sentiment is still quite thick.

Index futures hang zinc for the November contract has a position opening at 19 419 points. Position opening this morning seemed to increase compared to previous close of trading positions and positioned at 19 291, or recorded an increase of 128 points.

Meanwhile, the index spot hangs zinc appear to have a significant decline over deteriorating sentiment towards Europe. Spot index hangs zinc decreased by 107.71 points (0.56%) at position 19240.73 points.

Shares in Hong Kong have weakened the movement. HSBC recorded a decline of 0.8 USD to 61.25 USD. Henderson Land fell by 0.85 EUR to 40.10 EUR position. Hutchinson declined by 0.6 USD to 69.95 USD.

News and Economic Review Europe (UK)

Mervyn King: Inflation could fall more sharply

Wednesday, November 16, 2011

Bank of England Governor Mervyn King said inflation could fall more sharply than current estimates due to excess capacity and risk substantial risk to the global economic outlook.

Treasurer to the Chancellor George Osborne, King said that although the direction of inflation can be expected for the next few months but the phase and its time is not yet known with certainty and inflation is still possible to fall more sharply again by considering the current economic capacity margins and the risk of economic recovery and global implications.

October inflation today reported decreased more than economists forecast to 5%. The Bank of England while in a second month of the four-month bond purchase program that began last October in the context of economic recovery.

Although inflation is still 2% higher than the central bank, said the King can still declining sharply in the next 6 months and reach the target level at the end of 2012. The Bank of England to maintain the target level of asset purchases? 275 billion ($ 436 billion) this month after increased? 75 billion last October. Interest rates are also maintained at 0.5%.

Consumer prices rose 0.1% with food prices fell 0.9%, the biggest monthly decline. Transportation costs fell 0.7% and fuel prices fell 0.4%.

The data also show the annual core inflation, which does not include alcohol, food, tobacco, and energy prices, rose 3.4% in October from 3.3% in September. Retail price inflation fell to 5.4% from 5.6%.

News and Review of European Economic

Moving Euro Weakens; Auction Bonds in Spain and France Threatened Less Successful

Wednesday, November 16, 2011

In today's trading the euro exchange rate against the U.S. dollar resumed procession pelemahannya (16/11). The euro continued decline for three consecutive days against the U.S. dollar along with concerns that are still thick on the European debt crisis. Market focus to the condition of Spain and France who will conduct auctions trade bonds on tomorrow. On a bond auction yesterday in Italy look back to an increase in yields. This is a signal that the market is still very hesitant about efekfitas European recovery steps.

The euro reached the lowest position in more than a month later against the U.S. dollar today. Spain is scheduled to auction bonds worth 4 billion euros that will mature in 2022 coming, while France will auction bonds with maturities of more rapidly in 2013 and 2016. On a bond auction yesterday Spain and Belgium to sell fewer bonds than the maximum levels specified.

In today's trading the euro appears to be in the position of 1.3447 dollars. The position of the euro today had a significant decrease compared to the position of closing the trade early this morning at the level of 1.3536 dollars. The position of the euro today as well is the lowest position since the 10th of October.

News and Review of European Economic

Euro Weakens For Growth Approach the Recession

Wednesday, November 16, 2011

Data poor growth in Europe and a positive retail sales statistics on the U.S. economy gave a strong boost the dollar against the euro on Tuesday.

At 2200 GMT Wednesday (05:00 GMT) the euro fell to 1.3536 dollars from 1.3629 dollars late Monday.

The euro fell to 104.31 Japanese yen from 105.07 yen, while the dollar slipped to 77.05 yen lower from 77.09 yen.

Data from Eurostat showed growth for the 17-nation eurozone at 0.2 per cent in the third quarter, sending European stocks fell and government bond yields shot up, AFP reported.

As well as the new Prime Minister of Italy, Mario Monti launched a final round of talks to form a government, the 10-year borrowing costs jumped back country above the level of 7.0 percent is not sustainable.

Spain to pay interest rates rise more sharply than five percent at 3.16 billion euros, the Spanish government bond auction term period of 12 months and 18 months.

And the returns on the French 10-year bonds rose sharply to 3.683 percent, making Paris pay more than double compared to Germany to borrow.

Meanwhile, in the United States, the yield on the ob; ogasi 10-year government at 2.06 percent, slightly up from 2.04 percent on Monday.

"We have the political uncertainty in Greece and Italy, it takes its toll on the currency," said Samarjit Shankar of BNY Mellon.

"Initially, the problem is limited to Greece, Portugal, Ireland, Spain and Italy," he said. "Now we see bond yields in Belgium and France began to move higher."

Europe uncertainty shadowed Oil

Tuesday, November 15, 2011

Oil prices did not change much in the London session, although overshadowed by worries that European debt crisis could hurt growth in world oil demand. Investors worried about the ability of Italian and Greek politicians to do for the sake of complete reform of the debt crisis.

"Action sale may occur in the coming days on concerns over the outlook for energy demand of Europe," said Victor Shum, a consultant at Purvin & Gertz. "However, some countries will be attending the winter and it certainly can sustain the demand. It should be able to limit price declines."

"Sentiment is still fragile, especially with the proliferation of uncertainty in Europe," said Natalie Robertson, an analyst at ANZ. "The focus is still on the situation in Europe." Meanwhile, Iran's OPEC governor Mohammad Ali Khatibi express OPEC will continue to monitor developments and cooperate.

News and Economic Review Asia (Japan)

USDJPY likely sales drop 76.40

Tuesday, November 15, 2011

The bias remains neutral in the short term but as long as the price moves in the main bearish channel on the H1 chart, intraday bias remains skewed downward overall target area of ​​support 76.80 - 76.40 and 75.50 record lows.

On the upside, strong resistance appears in the area of ​​77.50 - 77.75, just above the penetration of the area have only been able to stop the major bearish scenario at this phase.