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News and Economic Review Europe (Germany)

German exports of September Break Expectations

Tuesday, November 8, 2011

German export sector scored a surprise rise in September. The global economic slowdown has not stopped stretching exports in Europe's biggest economy.

Statistical Office of Germany stated that exports rose 0.9% in September. One month earlier, the export volume jumped 3.2% (August). Data release to-9 months inversely than analysts' expectations, which predict a decrease 0.8%.

While the volume of imports fell 0.8% due to concerns that economic growth in the country to lose its momentum. While analysts projecting an increase of 0.4% in September.

Exports year-on-year jumped by 10.5% in September with a total value of 95 billion euros ($ 131 billion). While imports year-on-year recorded 11.6% higher at € 77.6 billion figure.

News and Economic Review Europe (Italy)

Key Berlusconi Pull Support Alliance

Tuesday, November 8, 2011

Umberto Bossi, which is an alliance of key Italian PM Silvio Berlusconi said on Tuesday that he advised the Prime Minister to resign and support Angelino Alfano as a substitute.

Mr.Berlusconi itself still struggling to save the conservative government despite pressure to resign so that a new government can rescue the country out of Europe's debt crisis.

Italian opposition confirmed Tuesday that it would choose to abstain and not follow the voting held on Tuesday, a move aimed at the current government that they do not have a majority in parliament.

When only two weeks ago, Mr.Berlusconi gave a presentation at the European summit in Brussels with the promise of the Italian pension system reform, speed up the sale of state assets, as well as the easing of labor laws to facilitate the search for employment. But ironically, the move still needs approval from Parliament, and not yet clear how the Berlusconi government can obtain approval from the parliament.

News and Review of European Economic

German Suggest Italian Sell The gold reserves

Tuesday, November 8, 2011

Gold has now become an alternative currency in Europe, while it made Germany still refuses to use its gold reserves to finance the bailout loan. This indicates that the Germans still regard Gold as a safe haven asset amid uncertain conditions of today.

Proposals submitted by France, Britain and the U.S. to use German gold reserves as collateral for the eurozone bailout fund has been rejected by Germany, based on the statement of Germany's economy minister Philipp Roesler on Tuesday the German gold reserves can not be touched at this time.

In line with colleague Angela Merkel, the Bundesbank representatives, Mr. Siebert said that the discussion on the G20 summit to use gold reserves as collateral is not approved by the Central bank. The proposal contains that Germany needed to use part of its gold reserves worth 15 billion euros, equivalent to 3.000 metric tons of Gold.

But German politicians even suggested Italy to sell gold reserves to reduce its debt ratio. According to Krichbaum who served as chairman of the Committee on European Affairs, Italian gold reserves are relatively high can be used to repay its debts.

Gold Rises, The Role of Commodities Safe Haven

Monday, November 7, 2011

The movement of gold prices to trade today (7 / 11) recorded an increase in line with the back to reveal concerns about the European economy. Greek Prime Minister George Papandreou will reportedly resign amid yet usainya process of providing economic aid raised by the European Union.

Spot gold rose by 7.72 dollars to 1763.85 dollars per troy ounce with the support level at 1753.99 dollars per troy ounce and resistant level at 1772.90 dollars per troy ounce.

Rising gold movements in commodity prices helped push other metals such as silver rose 0.8% menhadi 34.41 dollars per troy ounce, palladium rose 0.4% to 659 dollars per troy ounce and platinum rose 0.4% to 1640 dollars per troy oz.

News and Economic Review Asia (Korea)

South Korea was awarded A+ rating by Fitch

Monday, November 7, 2011

Fitch Ratings raised ratings of South Korea's rating to "positive" from "stable," and affirmed the class A.

"South Korea's trade balance deserve it because of the sovereign and the economy grows rapidly," said Andrew Colquhoun, regional head of Fitch's Asia-Pacific region.

South Korea, Asia's fourth largest economists have been accumulating foreign exchange reserves of $ 311 billion and moderate public debt and fiscal prudence are the main force. South Korea's economic growth had slowed in the third quarter as companies cut spending related to concerns that European debt crisis will reduce demand for Asian exports.

South Korea has guaranteed agreements with other countries to protect from any impact of European fiscal woes and the economic recovery in the United States and other developed countries. The nation agreed with China to swap to almost double their yuan to ₩ 64 trillion won ($ 57 billion) from 38 trillion won.

News and Economic Review Europe (Italy)

Italian bond yields rose again to 6.66%

Monday, November 7, 2011

Italian government bond yields back up to the highest rate that is 6.66%. Earlier, the Italian bond yield of 6.37%. This figure is already perilously close to the threshold of 7%.

Plus the alliance pressed Italian Prime Minister Silvio Berlusconi to give up the reins of power before the parliament voted against the 2010 budget, tomorrow (8 / 10).

Khwatiran Italian market will be the next country that will become victims of Europe's debt crisis. Italy is the third largest economy in the euro zone.

Stock markets in Europe also plunged. At the opening of trading in London, Frankfurt and Paris stock exchanges fell 1%.

Italy overshadowed by the political conditions in Greece which is heating up. Current Greek Prime Minister George Papandreou has agreed to step down from posisisnya. Greece is also forming a new government that the focus of EU bailout deal that does not bankrupt the country.

News and Review of European Economic

Goldman: Some potential bounce from EU countries

Monday, November 7, 2011

Goldman Sachs Asset Management argues, some member countries of the European Union (EU) could be bouncing out of euro zone. Countries such as Portugal, Ireland, Finland and Greece is better than operating out of the EU single currency.

A spokesman for Goldman Sachs, Jim O'Neill, say, Germany wanted a unified fiscal system and the tighter central control. "With this warning, it is difficult for all the countries that joined the EU last with the euro, including Greece," he said.

Only countries like Germany, France and Benelux are matched with a unified monetary system. Because the exchange rate they are very closely linked. But not so with other member countries.

Countries such as Finland and Ireland which is a neighbor of the non-euro countries such as UK and Sweden, may prefer to stop using the euro.

Meanwhile, the Greek bailout deal will not solve the crisis. Europe Central Bank (ECB) is also required to buy bonds.

Italy seems to be the next prisoner after Greece. 10-year bond yields reached 6.38% Italy nearing the threshold of 7%. This reflects the country's economic instability.

A member of the ECB said last Saturday, there is often debate to end the Italian bond purchases. Moreover, if this country does not make economic reforms. They suggested the ECB's commitment to support the Italians are not too large.

Italy may need a new government that makes the new economic policy for Italy. "But it's also still very fragile, markets need stronger leadership from these countries and also from the ECB," he said.

News and Economic Review Europe (Germany)

German Industrial Production Fall to -2.7%

Monday, November 7, 2011

Industrial production in Germany dropped significantly in September. In its report, Destatis, the German statistics office said the federal industrial production fell to -2.7% in September, disappointing expectations for a decline of 0.7%.

Previous month's figure was revised to a decrease of 0.4% from 1.0%. From year to year, German industrial production rose at an annual rate of 5.4% in September, down from expectations for an increase of 7.2%, after rising at a rate 8.4% in August.

Once the data is released, the euro remained lower against the U.S. dollar, with EUR / USD down 0.31% to trade at 1.3751.

First in four days, the contract price of gold is expected to sag

Friday, November 4, 2011

SINGAPORE. Gold futures are expected to record a decrease for the first time in four days. The reason, investors are busy-busy after removing the gold price reached its highest level in six weeks.

This morning, the contract price of gold for fast delivery fell by 0.4% to U.S. $ 1757.10 per troy ounce. At 14:29 pm Singapore time, the same contract at the level of U.S. $ 1761.90 per troy ounce. Yesterday, gold prices touched a new U.S. $ 1,768.03 per troy ounce. This is the highest level since 22 September. While the price of gold contract for December delivery was not much change in the position of U.S. $ 1762.90 per troy ounce on the Comex in New York.

"Investors should pay attention to news of Europe and the movement of the dollar to determine the next gold price movements," explains Terry Hanlon, president of Dillon Gage Metals. He added, in the past 15 years, the movement of gold and the dollar has a contradictory relationship.

News and Economic Review Asia (Korea)

Technology and refining post the reinforcement prop Seoul

Friday, November 4, 2011

Seoul shares rose on the session Friday, bolstered by a rise in the technology sector and refining, after Greece withdrew from a proposed referendum that threatened its membership in the European Union and European Central Bank cut interest rates.

The rigors of European pressure forced Greece to seek political consensus on a new bailout plan instead of holding a referendum after EU leaders raised the possibility of Greece out of the euro single currency to maintain. European Central Bank cut interest rates a quarter point to 1.25 percent in a surprise move Thursday.

Korea composite stock price index (KOSPI) finished up 3.1 percent at 1,928.41 points level. KOSPI 200 spot index ended up 3:38 percent at 252.34 points level. Institutions again making a purchase, acquire a net 462 billion won, or the equivalent of $ 408.9 million worth of shares.

Shares of Samsung Electronics rose 3.9 percent to 1005 million won, touch the milestone of 1 million won for the first time in nine months and lurking level for all time that touched 1014 million won in January.

LG Electronics fell after the company announced the issuance of shares of $ 945 million on Thursday, confirming rumors in the market that pushed its shares plummeted yesterday in a session. LG Electronics shares fell 0.8 percent to 61.100 won. Affiliates actually rebounded sharply after a drop in session yesterday, with shares of LG Corp. rose 4.1 percent and LG Display jumped 8.1 percent.

Stocks of crude oil refining companies jumped on the strengthening of the won, which tends to reduce the cost of crude oil imports. S-Oil rose 6.5 percent and SK Innovation jumped 8.1 percent.

News and Economic Review Europe (Greece)

Try to Restore Optimism Greek European Market

Friday, November 4, 2011

Major stock bourses mixed on moving the European trading session Friday as a difficult situation to be experienced Italian and euro zone economic data weak try to erode the market optimism that triggered the cancellation of the referendum Greece.

Eurostoxx 50 Index rose about 0.15% was observed, followed by Britain's FTSE index rose 0.65%. Instead the German DAX have slipped 0.5%, while the French CAC index fell 0.05% thin.

Optmisme against the cancellation of planned referendum on the latest bailout deal appeared Greeks began to subside on Friday, as the worsening political situation in Italy, where Silvio Berlusconi-led government strong pressure to immediately accept the proposal from the austerity measures the IMF and the European Union, which includes finance reform pensions, labor markets and privatization.

While the macro economic data released Friday showed the occurrence of a sharp contraction in euro zone service sector in October, which fell to 46.4 from 48.8 the previous month.

News and Economic Review Europe (Italy)

Prepare Fresh IMF Funding for Italy

Friday, November 4, 2011

Leaders of the Group of 20 (G20) agreed that the International Monetary Fund (IMF) should create a new lending facility to help countries that lack liquidity. Thus the news received from the Cannes, France.

Precautionary entitled Commitment and Liquidity Line Fund will help provide funds for states to six months. Analysts speculated that Italy will become the first country to receive the new facility. Given the Italian state was faced with interest rates higher and higher. The main focus of aid focused on countries with high interest rates.

At the same time, the euro away from its highest level daily, 1.3855 and is now moving in the range of 1.3832. The resistant EUR / USD at 1.3855 next. USD / CHF at 1.2244 with resistance monitored at the nearest 1.2287. EUR / GBP at 0.8643 with resistance seen at 0.8670 and EUR / JPY at 108.03 reeling with the next resistance at 108.13.

News and Economic Review Europe (UK)

RBS profit fell by 63%

Friday, November 4, 2011

LONDON. Royal Bank of Scotland Group Plc (RBS), the largest bank owned by the British government could not circumvent the crisis of the attack. The operating profit of banks per September 2011 fell by 63% from the same period the previous year. The economic crisis plaguing Europe withhold earned income securities division.

Profit reached only 267 million pounds, equivalent to U.S. $ 428 million. Obtaining this much smaller 343 million pounds from previous analysts expected.

"Our investment division recorded profits only slightly during the period. In the fourth quarter, similar conditions predicted to occur," said Chief Executive Officer Stephen Hester, Friday (4 / 11)

Investment banking revenues slipped 29% to 1.1 billion pounds. Edinburgh-based bank in this state, concerns about the crisis in Greece makes the desire of investors in the sinking fund investment in the stock market sank.

"Profitability of banks is very weak due to a sharp decline in investment banking business," said Gary Greenwood, banking analyst at Shore Capital, Liverpool. Securities unit costs soared to 93% from 63% in the same period the previous year.

Not only to face loneliness of income, just like any other creditor classes snapper, RBS is expected to terminate the employment (FLE) in order to reduce bank charges. Previously, RBS had cut the number of employees to 27,000 employees since the crisis occurred in 2008.

Crude oil rose for a second day

Thursday, November 3, 2011

Oil rose for a second day in New York, reverse the decline after European leaders pressed Greece to continue with a possible rescue package to stem the debt crisis.

West Texas Intermediate futures on the New York Mercantile Exchange rebounded after being down 1.8 percent. Led by Germany and France, political and economic actors of Europe, European watchdog yesterday to stop financial aid to Greece until early December to determine appropriate selection obtain a loan.

Crude oil for December delivery rose 39 cents on the level of $ 92.90 in electronic trading on the New York Mercantile Exchange was observed at 10:59 am London time. Previously had declined by $ 1.64 to as low as $ 90.87 per barrel. Brent oil for December delivery traded up 30 cents at the level of $ 109.64 per barrel on the ICE Futures Europe exchange in London.

U.S. crude stockpiles increased 1.83 million barrels to 339.5 million in the week to October 28, according to U.S. Department of Energy report yesterday.

1:36 gasoline inventories increased to 206.3 million barrels million barrels. With an estimated median decrease in 800.000. Distilled oil inventories, which include heating oil and jet fuel, decreases 3:58 million barrels to 141.9 million barrels.

News and Economic Review Asia (Hong Kong)

Hong Kong Dollar Moves Flat

Thursday, November 3, 2011

Hong Kong dollar tracked moving relatively flat in trading today (03-11).

The currency moves against the rupiah strengthened very thin and very thin weakened against the U.S. dollar.

Analyst Research Vibiz of Vibiz Consulting suggests that the Hong Kong dollar strengthened thin tracked moving around + 0.09% against the Euro currency in forex trading today.

While on DollarAS the pair USD / HKD tracked down very thin - 0.01%.

Meanwhile HANG SENG INDEX reportedly fell -2.49% HANG SENG COMPOSITE INDEX and down -1.95%.

News and Review of European Economic

ECB under Mario Draghi, Possible Lower Interest Rate by 0.25%

Thursday, November 3, 2011

Mario Draghi first decision which is the current president of the ECB will likely cut rates 0.25%. This was never discussed in Trichet's last meeting but did not materialize. With the worsening economic conditions in the State of the European periphery, the ECB can help growth by lowering interest rates. Maybe in 50 basis point cut is very precise. Draghi did not want to be seen doing inflansi easing in and do a very loose monetary policy towards Italy.

Draghi would certainly tend to avoid this stigma. The euro is likely to move to follow the new ECB president statement in a press conference. If the estimate of the Euro will jatuk concerned about the possibility further. If the estimates remain stable, the euro could stabilize and even rise.

While If Greece to hold a referendum related rescue scheme will be the European Union, will make the dollar (U.S.) bank liquidity rose and declined. Short term impacts must be bad, because it illustrates the failure European Central Bank (ECB) in dealing with their internal problems. Whereas the problem in Greece is small. What about the next problem in Italy, Spain, and so forth? "

News and Economic Review Europe (Greece)

Greece Denies Resignation Papandreou News

Thursday, November 3, 2011

A senior Greek government denied the news about the resignation of Greek Prime Minister George Papandreou, adding if Papandreou is scheduled to deliver a speech in front of members of parliament on Thursday.

Papandreou himself has held an emergency cabinet meeting to decide the next step.

"There is no prime minister's resignation," the official said. "The prime minister will still speak in front of parliament this afternoon, as planned."

Denial comes amid speculation that Papandreou would probably resign following the rejection in the socialist party, angered by the Prime Minister plans to hold a referendum on the latest bailout package for Greece agreed in the EU summit last week.

Papandreou possible actions aiming to quell public reaction to the controversial austerity policies, but for some circles it is regarded as a reckless act considering it could potentially derail the settlement plan debt crisis in the European region.

News and Review of European Economic

Shocking! European Central Bank cut interest rates 0.25%

Thursday, November 3, 2011

European Central Bank (ECB) surprisingly cut its benchmark interest rate for the first time by 25 basis points (bps). Increasingly uncertain conditions of crisis in Europe such as Italy and Spain forced the ECB lowers interest rate to 1.25%.

The prospect Greece exit from the European Union is also a major consideration of the monetary authority in taking decisions.

Mario Draghi, who chaired the ECB to make predictions 51 of 55 economists surveyed by Bloomberg missed. Two other economists predict the right while the other two predict cuts to 0.5%.

"Pruning is in a very surprising," said Nick Kounis, head of research at ABN Amro in Amsterdam. But, he considers it appropriate for the decision and forward the European Central Bank will cut interest rates again. "Europe's economy more and more immersed by the recession, even the last few days was very significant downside risks," he said.

Draghi led a press conference at 2:30 pm Frankfurt time. He was under market pressure the central bank wants to keep buying bonds in the euro area countries are depressed.

The addition of direct employment rose oil

Wednesday, November 2, 2011

Post the rise in oil after a four-day slump after U.S. private-sector employers added more jobs than expected and at the time the dollar weakened before the Federal Reserve's statement on the economy.

Oil climbed 1.7 percent after ADP Employer Services reported U.S. companies to recruit as many as 110 000 workers to its payroll list in October. The weakening dollar for the first time in four days at a time when the Fed is expected to make a purchase of assets the third stage.

Crude oil for December delivery rose $ 1.08, or 1.17 percent to as low as $ 93.27 per barrel was observed at 9:25 o'clock in the morning on the New York Mercantile Exchange. Oil futures rose 2.1 percent this year. meanwhile, the Brent oil for December delivery rose $ 1.03, or 0.9 percent to as low as $ 110.57 a barrel on the ICE Futures Europe exchange in London.

The increase in employment in October are higher than 91.000 increase in September, based on data from ADP, based in Roseland, New Jersey reported.

News and Economic Review Asia (Japan)

Still Yen Gains Against Euro, Monetary Sector Stable Enough

Wednesday, November 2, 2011

Japanese Yen currency pair to trade EUR / USD ssss today (02-11) observed stronger.

Japanese yen strengthened in line with the presence of positive signal, where it is shown by an increase in performance on the monetary sector in the country.

Monetary Base indicator y / y reported to increase to 17.0% which was previously thought to be able to rise to 17.3% from the previous value of 16.7%.

News and Review of European Economic

Small, Opportunities ECB Interest Rate Changes

Wednesday, November 2, 2011

Euro-zone manufacturing activity in October contracted at the sharpest rate since July 2009. Recent data, which just released a day before the meeting of the ECB interest rates, suggesting that growth stalled region.

This Wednesday, Markit Economics announced the Purchasing Manager Index (PMI) in 17 countries using the euro fell to 47.1 in October. In September last, PMI recorded in figure 48.5. Threshold of 50 indicates that the performance of PMI has been shrinking for three months.

Germany even seen a contraction for the first time since June 2009. Activity factories slowed since a month ago in all countries, except Ireland. "The new recession in the euro bloc is now almost certain," said Alan Clarke, economist at Scotia Capital.

The ECB will announce its interest rate decision tomorrow Thursday. Market participants want to find out whether the ECB will keep interest rates pegged at 1.50%. But economists surveyed by Dow Jones last week did not expect any change in policy. Given the inflation rate in October was 3.0%, or well above the central bank's target of just 2.0%. The central bank is unlikely to change interest rates in the midst of current uncertainties.

News and Review of European Economic

Pressure Euro Against Yen Reda, Unemployment Rise In Germany

Wednesday, November 2, 2011

In trading pair EUR / JPY the European session this evening (02-11) tracked the Euro exchange rate against the Japanese yen weakened back and in the range of 107.61.

Increasingly less attractive euro forex investors in line with the indication showing a decline in economic performance in Germany.

The latest information about the German Unemployment Change indicator has just been released by Destatis showed a decrease in performance on the labor sector.

German Unemployment Change Indicators were reported to have increased to 10K which was forecast to rise to-10K from the previous value of-22K. This negative response by investors to trade forex.

News and Economic Review Europe (UK)

Sterling Gains Supported Construction Sector

Wednesday, November 2, 2011

Pound sterling currency to trade GBP / USD today (02-11) observed stronger.

Pound Sterling strengthened along with the presence of positive signal in the British economy, where it is shown by an increase in performance in the construction sector in the country.

Indicator Construction PMI rose to 53.9 reported previously expected to remain a value of 50.1 from 50.1 the previous period.

Analyst Research Vibiz of Vibiz Consulting suggests that the British pound moved higher observed around + 0.24% against the Euro currency on foreign exchange trading today.

Crude Oil Weakens, Not More Bailout Not The European

Tuesday, November 1, 2011

Crude oil price movements for this afternoon (1 / 11) recorded a decline. The weakening of the movement of oil is the negative impact of economic fundamentals in Europe that there is no certainty about continued efforts bailout policy.

The weakening of oil prices today is a symbol that investors were holding position pending the outcome of the G20 meeting, held on the next day which is expected to discuss about the prospects for overcoming the economic crisis and Europe.

Crude oil futures for the time being weakened by 93 cents to 92.26 dollars per barrel. Meanwhile, crude oil futures fell 0.7% to 108.85 dollars per barrel.

According to the analysis of the Division of Research in Vibiz Vibiz Consulting, the movement of oil prices is expected to be still depressed with the support level of 90.0 dollars per barrel, and resistant level of 92.87 dollars per barrel.

News and Economic Review Asia (Hong Kong)

China's PMI was disappointing, the Hong Kong Stocks slips

Tuesday, November 1, 2011, 17:33

Hong Kong stocks fell on Tuesday after a drop in session mengejtukan Chinese manufacturing and new concerns about Europe's debt agreements do little decrease in profit-booking after the rise in the last month, particularly in the property sector.

Observed mild trading after investors were still cautious ahead of the data market movers this week include U.S. payrolls data, meetings and meetings of the Group of 20 major central banks in the U.S..

Hang Seng Index fell 2.5 epersen dragged down all day in line with other Asian markets. China Enterprises Index, a benchmark the best in Asia in the last month, declining 3.1 percent.

In China, the Shanghai Composite index ended higher light, rose only 0.1 percent, supported by retail investors buying in the sector on expectations asurasi better investment income in the current domestic stock market improves.

Resmui China's PMI index for October are lower than expected, noting its worst result since February 2009 after a bad economy sacrificing factory west.

While the low prices of inputs factories in China also suggests that inflationary pressures diminished manufacturing sector, market players said it was too early for China to loosen policy.

Developers still depressed stocks in Hong Kong with the sector index ended down 4 percent. Cheung Kong Holdings shares fell 4.7 percent sementra China Overseas Land, one of the best stock in the last month, down 6.7 percent. China Overseas rose nearly 30 percent in the last month.