mynameisandhy

News and Economic Review Europe (Italy)

European Stocks Flat, Italy Still Leave Anxiety

Tuesday, November 15, 2011

Stocks in Europe's main bourses to cut some of its reduction to then move tends to flat in trading on Tuesday, with increasing investor interest in mining stocks could offset the decline in banking stocks hit by fears of debt problems being wrapped around the state-Southern European countries.

"Yields on bonds to be the main trigger of market movement," said Frederic Rozier, finance manager at Meeschaert Wealth Management in Paris. "The market seems also testing the ability of Spain to tackle the problem of debt, although the widening of yield between German bonds with France, Spain and Italy are also caused by factors of yield decline in Germany."

The FTSE has so far lost about 0.9%, followed by the German DAX and French CAC fell respectively 1.8% and 1.75%. The banking sector became the worst performing stock in trading on Tuesday, with BNP Paribas fell more than 4% and UBS declined about 2.6%.

Increasingly negative market sentiment amid concerns about tersisanya Italy, where Mario Monti faced skepticism from Italian political parties following the objections of some members of Congress to take part in the new government cabinet.

News and Economic Review Europe (Italy)

Monti Still Preparing Cabinet of Italy

Tuesday, November 15, 2011

Prospects for the new government rises after Italy's largest political party in the amount of support given the market pressures that Prime Minister Mario Monti to act quickly. "We think the business Professor Monti will give good results," said Angelino Alfano, the party secretary of the PDL.

PDL support is quite important because many of its members that have been uttered against the cabinet will be composed Monti government to face a debt crisis that now threatens the third largest economy in the euro-zone. Monti's new government should have a strong parliamentary support to execute the desired policy reforms opposed by some of the people of Europe but Italy. If Monti acts or fails to carry out its run too late then this will incur a new attack for the financial markets.

Since yesterday, Monti had consulted with some of the party which controls the Italian parliament. Monti Reuters interviewee express his government is working on a cabinet and will announce it soon.

Meanwhile, the euro was weaker in New York even though the session was beginning to stabilize. EUR / USD is now trading 1.3566, keep a distance of 1.3512 daily lows.

News and Economic Review Zone EUROPE (GERMANY)

German ZEW sentiment indicator fell to -55.2 November

TUESDAY, 15 NOVEMBER 2011

German ZEW economic sentiment indicator fell to -55.2 in November from -48.3 in October, the Center for European Economic Research in Mannheim-based ZEW report or Tuesday (15/11).

The indicators measure investors' expectations for the German economy over the next six months.

Economists forecast a smaller drop to -52.0. Current conditions index fell to 34.2 from 38.4 in October.

"World trade center weakened and issue public debt in the euro zone and in the United States weigh strongly on business activities.

This risk is even able to get more important and thus the more it can harm economic growth in Germany, "ZEW President Wolfgang Franz said.

Notes November index is based on a survey of 278 analysts.

Gold was corrected from $ 1795

Monday, November 14, 2011

Contract Gold futures for December monitored traded at the level of $ 1,776 per troy ounce, or down -0.67% from its opening, after reaching the highest point daily at $ 1,795 per troy ounce in Asian session as the uncertainty of the euro zone is still sustain the demand of Gold despite clear progress from Italy and Greece.

But since the European session, the Gold turned down due to the strengthening U.S. dollar against major currencies on the exchange.

Despite the weakening, but the Gold Uptrend channel since rebounding from last September 29 still survive. Aggressive traders may be able to trade with the accumulation in the trendline support on H1 chart, in the area of ​​1750 with stop losses into account Fibonacci support point at 50% = 1725.

Need to be aware also that the strengthening of the dollar will become so vulnerable to negative Gold Rally Gold occurs when the correction becomes too tight above 1812.

News and Economic Review Asia (Japan)

Prelim GDP q / q Naik, urges Sterling Yen

Monday, November 14, 2011

In trading GBP / JPY the European session this afternoon (14-11) observed yen strengthened against the pound sterling and is in the range 123.64.

Japanese Yen forex investors are increasingly in demand in line with the indication that showed an increase in economic performance in the country.

The latest information about the indicators Prelim GDP q / q has just been released by the Cabinet Office showed an increase in performance on the economy in general.

Indicator Prelim GDP q / q increase to 1.5% reported previously expected to rise to 1.5% from the previous value of -0.5%. It was responded positively by investors in forex trading.

News and Review of European Economic

Continue Euro weakening against dollar

Monday, November 14, 2011

The euro currency continued weakening against the dollar and yen in trading on Monday, marked by the penetration level of technical thereby increasing sales momentum.

Monitored by far the currency pair EURUSD fell -0.82% to a level of 1.3636, under MA100 week, while EURJPY fell -1.08% to as low as 105.00.

Attenuation occurs even though Italy and Greece has appointed a new government, but investors still see the fact that the new government was still difficult to overcome the debt crisis in Europe.

News and Economic Review Europe (UK)

Sterling Rebound Coming to the UK Consumption Data Release

Monday, November 14, 2011

Nationwide Building Society today (14-11) is scheduled to announce the latest developments konsumis sector in the UK economy.

Nationwide Consumer Confidence Indicator is expected to increase from the previous period is 45. Meanwhile, GBP / USD pair was observed in the range of 1.5925.

The possibility exists that shows improved performance is sustained early in the growing interest of investors in the forex market to hold the pound sterling, the currency is moving so strong rebound on the GBP / USD after vanish on this afternoon.

News and Economic Review Europe (UK)

Barclays Pessimistic With Sterling

Monday, November 14, 2011

Sterling weakened, follow the trail of the euro against the dollar decline, due to loss of investor optimism will be a new government in Italy. Italian President has appointed former European Commissioner Mario Monti to lead the new government needed to implement reforms. Traders see a sell-by fund managers and investors Eastern Europe who want to secure the gains seen after the sterling rally this month.

Analysts also see the risk of weakening sterling ahead of the publication of the BoE inflation report on Wednesday that is expected to revise down growth in the UK. "BoE inflation report will have a negative for sterling; although the market remains focused on the development situation in the euro zone," said John Hydeskov, strategic Danske.

Technical analyst at Barclays Capital also pessimistic with sterling outlok that can fall to $ 1.5900 and $ 1.5860 this week if it stays below $ 1.6170 resistance, the 200-day MA. In addition to reporting inflation, employment data and UK retail sales this week also can suppress the sterling performance if stressed the fragility of Britain's economic recovery.

Freeport Indonesia Will Continue In Gold Production Time Near

Friday, November 11, 2011

Employee strikes Indonesia in Papua Gold mining has caused losses of billions of dollars in revenue, after nearly a month hanging authorities Indonesia and PT Freeport McMoran Gold miners have reportedly reached an agreement to resume mining operations.

But the Minister of Manpower and Transmigration, which mediates the negotiations, said the management and the workers have not produced an agreement but has achieved significant progress.

Management has offered 35 percent wage increase while the workers agreed to lower their wage demands to $ 4 per hour from the previous $ 6.7 per hour. The management also said it would set the minimum wage to $ 375.3 / USD. 3.316 million per month, but the reality of his workers' wages will be Rp. 8 million per month, including meal allowances, and annual bonuses.

News and Economic Review Asia (Japan)

Despite ending higher, the Nikkei ended the week with a decrease

Friday, November 11, 2011

The Nikkei moved up in the session on Friday after a massive selloff a day earlier as investors positioned in the possibility of an increase, despite concerns about a worsening debt crisis in silence optimism.

Olympus Corp. shares rise and fall in the volatility of trading after the shares are listed in the supervision of the Tokyo Stock Exchange in the session Thursday, with the possibility of elimination after failing to find a revenue report by the deadline November 14.

Olympus shares fell 5 percent to 460 yen, bringing the total decline to 81.5 percent since the scandal stuck on 13 October.

Meanwhile, German Chancellor Angela Merkel rejected the notion that his administration might support a smaller euro zone on Thursday after getting closer to the Italian national unity government. Meeting in Hawaii, Asia-Pacific finance ministers agreed to boost their own economies to protect against the impact of European issues.

Italian Finance Ministry managed to sell 1-year bonds on the yield of less than 7 percent - the limit that investors believe will create an unsustainable debt burden, although the country is still paying the highest yields in 14 years.

The Nikkei rose 0.2 percent to a level of 8,514.47, but throughout the week the Nikkei index was down 3.3 percent. The broader Topix index slipped 0.2 percent to a level of 729.13, with a weekly decline of 3 percent.

News and Economic Review Europe (Italy)

Italian 2012 Budget Bill Debate Begins!

Friday, November 11, 2011

Italian Senate on Friday began the debate in 2012 state budget bill is expected to be agreed on the same day, so it can be given to parliament for final approval, and will accelerate the process of the resignation of PM Silvio Berlusconi.

President Giorgio Napolitano on Wednesday alone has appointed Mario Monti to replace Berlusconi in Italy's new government.

Italian politicians are under intense pressure to quickly pass the bill, which includes plans trimming the deficit for fiscal year 2012 and increase measures to spur long-term growth.

With broader support, the new emergency government is expected to implement the agreed reforms and launched a new policy as an effort to restore stability and curb an alarming rise in bond yields. Which will eventually be able to assist Italy in managing the debt burden has reached € 1.9 trillion.

News and Economic Review European (Spanish)

Serious,,! Spain's economy stalled

Friday, November 11, 2011

Spain's economy stalled in the third quarter, the country matador undermining efforts to protect themselves from debt crisis after Spain and Italy borrowing costs soaring.

Gross domestic product unchanged from the previous quarter, when it rose 0.2%. From the previous year, the economy grew 0.8%. Bank of Spain estimates on 31 October that the economy stalled in the third quarter and grew 0.7% this year.

The slowdown threatens Spain's budget deficit. This requires a new government to accelerate spending cuts to prevent transmission of the crisis. People's Party, who will win the poll shows, has promised to get back to Spain AAA rating without raising taxes or cutting the level of pension.

Spanish yield of 10-year bonds compared with German equivalents rose to 408.8 basis points today, from 408.6 yesterday. Spain yield of 5.9% for loans over 10 years, the highest since August 5, even as ECBopa support the market with the purchase of bonds.

News and Review of European Economic

The euro strengthened against the dollar ahead of the Italian senate election

Friday, November 11, 2011

The euro strengthened against the dollar before the election of the Italian senate on debt reduction measures that aim to boost investor confidence in the country.

The currency is the euro zone rose for a second day against the U.S. currency. Former European Central Bank Vice President Lucas Papademos yesterday given a mandate to form a unity government while Italian Greek pave the way for a new government might be led by former Competition Commissioner Mario Monti European Union. The yen rose to its highest level against the dollar since the Japanese government intervened last month to weaken the yen.

The euro gained 0.3 percent at $ 1.3640 observed MKE actionable at 10:21 am London time, after rising 0.5 percent yesterday and recorded a decrease of 1 percent in the week. The common currency moves against the yen at 105.59 thin yen, leading to decreased 2.1 percent in the week. The yen strengthened against the dollar to as low as 77.33 per dollar, its highest since Japan sold the currency on October 31. And at the level of 77.39.

Poor European Distressed Oil Sentiment

Thursday, November 10, 2011

Oil falls for second day in New York Merchantil Exchange amid signs the European debt crisis can lead to weakening the euro area and threaten the region's economy.

Crude oil for December delivery slipped as much as 48 cents, or 0.5%, to $ 95.26 per barrel in electronic trading on the New York Mercantile Exchange at 3:18 am Singapore time. The contract fell $ 1.06 yesterday, or 1.1% to $ 95.74, the lowest settlement since November 7. Price 4.3% higher last year.

News and Economic Review Asia (Hong Kong)

Hangseng Closed Down More Than 5%

Thursday, November 10, 2011

Chinese stock markets closed lower on fears of soaring bond yields could force Italy's euro zone country to seek a bailout. exports in October is Slower than expected growth also sparked fears that China's economy has slowed.

Shanghai Composite closed down 1.8% to 2,479.5 points, after rising 0.8% on Wednesday, while the property index fell 2.6%.

Hong Kong shares fell more than 5%, erasing gains in almost a week, related to losses in overseas markets, the crisis is increasing in Italy and the weak yield of HSBC Holdings fell 9.13% trigger investor rush for the exit.

The benchmark Hang Seng Index fell more than 1,000 points and fell below the 19,000 level lokalturun Company 5.7 percent.

News and Economic Review Europe (France)

Chaotic Greek Crush Income Credit Agricole

Thursday, November 10, 2011

Many financial companies caught in the effects of European bond crisis. No wonder if the period of 2011 deserve to be called as a difficult period for financial sector businesses.

The fact is reinforced by the financial institution earnings eroded sharply. One is the Credit Agricole Group, which decreased net income in the third quarter. Net income in the Paris-based company is plunged 36% to 930 million euros ($ 1.26 billion). Loss from decline in the quality of Greek bonds was recorded up to 637 million euros. From the line of operations, revenue from retail banking is quite strong. The official statement from the directors of Credit Agricole today.

Figures lending of regional banks is quite solid. Loans to housing sector up to 7.1% and business lending rose 5.9% over last quarter. The core tier capital ratio amounted to 8.9% for the first nine months. Agricole shares immediately fell 5% after the earnings release.

News and Economic Review Europe (UK)

Ahead of Reference Interest Rate Determination Urged Sterling Yen

Thursday, November 10, 2011

In trading GBP / JPY the European session this afternoon (10-11) observed weakened against the Pound Sterling and Japanese Yen in the range of 123.71.

Pounds less and less enthused forex investors in line with the expectations of declining economic performance in the UK.

The latest information about the indicator Official Bank Rate which is scheduled to be released by the Bank of England is expected still can not show a significant positive developments in the monetary sector of the UK.

Indicators Official Bank Rate was held at the level estimated to be 0.50% of the value of the last period is 0.50%.

News and Review of European Economic

As Wall Street, European stocks Negative

Thursday, November 10, 2011

European stocks fell on Thursday (10/11) morning along with a sharp decline in Wall Street that triggered the debt crisis of Italy.

FTSE index was down 0.9% to 2228, the DAX lost 1.4% to 5745 and the CAC down 1.03% to 3043. The weakening reflected the tension ahead of the T-Bill sales of the Italian government that shows the power of the Italian budget. The market also saw a split in the European Union so that it starts to leave the risky assets and seek safer German bonds.

In trading yesterday, European shares fell nearly 2% with a failure to convince the market although Italian Prime Minister Silvio Berlusconi resigned. Because investors are confused by the insistence on early elections by Berlusconi. Market waits for a provisional government. This opens up the uncertainty of economic reform.

Wall Street closed down 3% on stock trading Wednesday (9 / 11). It was influenced by the Italian bond yields spike marks Europe's debt crisis has worsened. The Dow Jones fell 389.24 points, or 3.20% to as low as 11780.94. The S & P 500 lost 46.82 points, or 3.67% to a level of 1229.10. The Nasdaq Composite Index fell 105.84 points, or 3.88% at 2621.65.

Jim Rogers: Gold Bullish

Wednesday, November 9, 2011

Gold will still be bullish for several years to finally create the bubble, according to well-known investor Jim Rogers. "Gold will easily reach $ 2000 before it finally reached $ 2400. Bullish still be awake for the next few years," said Rogers, CEO of Rogers Holdings, told CNBC. "Rally will end if the price of gold became a bubble. This is the way the market works; prices will keep rising until it became a bubble."

Still, Rogers believes the annual gold needs to create bubbles. "Bubble could have been created 5, 6, or 18 years," he said. "I hope I am smart enough to sell gold when the bubble occurred, but the price will probably double." Rogers uttered he prefers silver than gold because it's cheaper. "I have gold and silver and I do not sell them. However, if had to choose then I would buy silver," said Rogers as he said he took short positions against the stock because it is not too optimistic about the economic fundamentals.

Asian Economic News and Reviews

Leadership of the IMF: China Need Currency Exchange Rates With More Powerful

Wednesday, November 9, 2011

Leadership of the International Monetary Fund to promote the important role of Asia in global economic recovery and urged the region to be ready if the world recession happen again.

In his speech Wednesday in the International Finance Forum in Beijing, Christine Lagarde said Asia's economic revival is a story that determine economic success in the modern era.

Lagarde especially praised China's economic growth, which he said has lifted 500 million people from poverty in the last 20 years. He said China needs a stronger currency in real value.

United States and the European Union said Beijing has deliberately debasing its currency to help exports and imports weakened.

Lagarde also urged China to shift from export-driven economy into an economy that promoted by domestic consumption.

News and Review of European Economic Zone

The stock market tumbled because of Italy

Wednesday, November 9, 2011

World stock markets fell back to see the conditions in Europe that there is still no certainty. Once broke down in Greece, now the fear of the crisis engulfing Italy. In trading on Wednesday (9 / 11), Italian bond yields jumped rise above 7%, reaching a record high.

The stock market in America, too weak, the Dow Jones Industrial Average closing ahead of the afternoon session decreased 1.96% to 11933.14. While the S & P 500 down 2.29% to 1246.87.

Market conditions in Europe even worse than America. Euro Stoxx 50 index, the index for the 50 blue chip stocks in Europe fell 2.84% to 2237. While the FTSE 100 index of stocks in the UK fell 2.01% to 5455.94.

Conditions in Europe was worsened after Italian Prime Minister Silvio Berlusconi said he would resign after budget reform could pass. Consequently the Italian government bond yield with a tenor of 10 years reached more than 7.21%, the highest since the European Union was founded in 1999. By contrast, bonds with the same tenor in Germany only give 1.73% yield.

News and Economic Review Europe (Greece)

Greek Coalition Government Fails to Reach Consensus

Wednesday, November 9, 2011

Prime Minister George Papandreou will resign and the main opposition leader Antonis Samaras has been in talks since Monday over who will lead the government until early elections in February.

Papandreou has agreed to resign after obtaining support for the opposition to the approval of an international bailout for his country.

Greek state television reported Tuesday that economists Lucas Papademos will become the country's interim prime minister while the debt-ridden countries strive to meet the demands of international creditors. But, until yesterday evening a former deputy director of the European central bank did not receive parliamentary approval.

The European Union demanded that both parties signed a written promise to implement unpopular austerity measures as part of the bailout plan agreed last month to Greece.

Samaras did not want to sign a written pledge, calling it an affront to national dignity, and that the oral promise to the plan should be sufficient.

News and Economic Review Europe (Germany)

Germans worry about credibility of the ECB

Wednesday, November 9, 2011

Germany's economic advisory panel warned the ECB may lose credibility by buying bonds member countries of the euro-zone is problematic. "The program eliminated the purchase of bond market discipline mechanism in the absence of political discipline. ECB was jeopardized its credibility because it indicated to finance government debt," the report panel of economic advisers, who used to give advice to the German government.

Germany strongly opposed the bond purchase program, but ECB President Mario Draghi has given indicates the central bank is ready to do the purchase of the euro-zone government bonds problematic. The panel also predicted the ECB would cut interest rates back up to the level of 1% at the end of 2011 and will not change the policy of low interest rates throughout 2012.

Meanwhile, the euro weakened on the New York session. EUR / USD is now trading near 1.3609 1.3580 daily lows

Approach the $ 1,800 gold ahead of Italy Vote

Tuesday, November 8, 2011

Gold is stable but still close to the psychologically important level of $ 1,800 per troy ounce, the European debt crisis due to anxiety that has intensified ahead of the budget vote in Italy.

Most active gold contract for December, traded so far down -0.17% to as low as $ 1,790 per troy ounce, after reaching the highest point on the daily level of $ 1,796.14 while its daily lows at $ 1,784.39.

Market participants are still awaiting the results of voting in the Italian parliament that determines the budget savings program, with investors worried that the Italian Prime Minister Silvio Berlusconi failed to get suaran majority to implement fiscal and economic reforms.

The failure is also the potential to trigger a vote of distrust on the Berlusconi government, and fiscal reforms may delay longer and cause uncertainty, especially if Berlusconi is still reluctant to resign.

Uniquely gold futures have benefited from this anxiety situation, because gold is still considered a relatively safe asset amid uncertainty. But otherwise if the market anticipates Berlusconi would ultimately resign and hand over the new government to save Italy from the crisis it would be responded positively by market participants, thereby reducing the demand for safe haven assets of gold.

News and Economic Review Asia (Japan)

Back BoJ supplies Dollar

Tuesday, November 8, 2011

Bank of Japan re-supplies of dollars for the second week; this is the second time the central bank dollar injection of funds into the market with increasing concerns over Europe's debt crisis. BoJ $ 1 million injection of funds through liquidity facilities one week; but the number was much lower than a similar operation last week that $ 102 million injection of funds into the market. $ 1 million meruoakan the minimum amount that can be awarded the BoJ to dollarnya liquidity facility.

BoJ facility is not used in the past year given the higher cost of borrowing funds from the market. However, the cost of dollar funding in Japan has increased since the Greeks proposed referendum. Although the cost of borrowing dollars began to subside since last week but Japanese banks seem to want to ensure the availability of stable sources of funding, according to Reuters resource.

Meanwhile, the yen has not changed much in the London session with USD / JPY traded 78.02. Nevertheless, the dollar looks difficulty maintaining and strengthening euro is evidenced by the recovery of low-level daily. EUR / USD is now trading 1.3776, near 1.3791 daily high level