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News and Economic Review Europe (France)

France: Moody's Action Not endanger Europe

Tuesday, October 18, 2011

Rating agencies Moody's re-spread threats to the developed countries of Europe. This time the object of warning directed at France, which was preoccupied by the resolution of regional economic crisis.

Moody's released a warning to the AAA rating, which is owned by the French. Agency says ready to downgrade the country's deficit ratio into account. In recent months, Moody's may cut its outlook for France from 'stable' to 'negative' because the government already weak fiscal management.

Nicolas Sarkozy's government could face a serious deficit problem caused by too much attention to the bailout for another country. Therefore, Sarkozy demanded to implement the program in greater fiscal and economic discipline. "Downgrade We depend on the performance of its own," said French Finance Minister, Francois Baroin.

"Fiscal adjustment must be made within 3 months, before the presidential election starts," said Michel Martinez, economist at Societe Generale. If not met, then it's too late because the 2012 deficit target will not be counted again. Directly, Moody's warning to the French make the greater the risk of spread of the crisis. Moreover, France's role in the bailout program area is very large. But Baroin denied if the Moody's action could jeopardize the continuity of the negotiations the European recovery. Because the downgrade (if any) will come out after talks over Europe.

News and Economic Review Europe (UK)

UK Annual CPI Increases to 5.2% September, Match Record

Tuesday, October 18, 2011

UK consumer prices rose 5.2% in September compared with the same month last year, up from 4.5% annual rate in August and the corresponding record in September 2008, the Office for National Statistics (ONS) UK reported on Tuesday (18/10).

Monthly inflation rose 0.6% in September. Economists had forecast a monthly increase of 0.4% and 4.9% annual rate. The cost of gas and electricity is the biggest mover in the rise in annual inflation, the ONS said.

The inflation rate far exceeds the annual inflation target of the Bank of England at 2%. BOE policy makers, however, last month began to re-program the central bank's quantitative easing amid expectations that inflation will fall back sharply in the coming months.

News and Review of European Economic

EFSF Will Not Be Bank

Tuesday, October 18, 2011

European officials expressed frustration looking for a formula effectively channeling the bailout. No wonder so many controversial discourse began to arise in the market.

One is the idea to position the European Financial Stability Facility (EFSF) as a bank. The goal is to 'fire power' EFSF in the fight against debt crisis could be more qualified. But European officials strongly denied such speculation. "EFSF will not be a bank," said Head EFSF, Klaus Regling in Munich, Germany. Regling acknowledged that it is looking for ways to add capacity EFSF, but did not consider the earlier discourse. "Not discussed at all," he said in the media.

The establishment of the bank would run counter to the rules of the European Union (EU), where the European Central Bank (ECB) is prohibited finance a budget deficit of a country. Therefore, Germany and other member countries strongly opposed the idea.

European finance ministers are looking for new ways to boost funding EFSF that 'only' for 440 billion euros. That amount should be allocated on three important issues, namely the banking recapitalization, the recovery of Greek and crisis prevention to other countries such as Italy and Spain.

Oil jumps above $ 86.80

Monday, October 17, 2011

Monitored the oil price rose above the $ 86.80 level, crude oil futures so far for the November contract traded at $ 86.90, or 0.13% higher than the opening price today.

Economic data better than expectations, and hopes a resolution of the eurozone debt crisis have been the reason behind the surge in oil prices today.

According to BNP Paribas analyst Tom Bentz, along with the economic recovery appears from the macro data, the strengthening of oil prices in line since the oversold area (oversold) in the range of $ 70 per barrel, to target the top target in the range of $ 90 per barrel.

News and Economic Review Asia (Korea)

Hope, still strengthen in the closing KOSPI

Monday, October 17, 2011

Seoul shares ended trading today with the rise on hopes Europe will execute a plan to resolve the debt problem, underpinned by a rise in oil refining and airline stocks, including S-Oil and Korean Air Line.

Korea Composite Stock Price Index (KOSPI) finished up 1.62 percent at 1,865.18 points level. KOSPI 200 spot index rose 243.49 percent to a level 1:59 points.

There is a sense of worry that if Europe fails, the global economy will be very slumped at a meeting of G20 finance ministers summit. Pressure was accumulating in the region which eventually reached the peak of the debt crisis in the European region at a meeting of EU leaders for eight days.

Perpetrators net foreign purchases of 249.2 billion won, equivalent to $ 215.6 million worth of stock, which is buying it on the third day. However, investment management institutions do net sales of 43.7 billion won in value stocks.

Shares of oil refining and aviation post the rise thanks to the stronger won more than 1 percent against the dollar in today. S-Oil shares jumped 8.9 percent and SK Innovation rose 5.6 percent.

Korea Aerospace Industries (KAI) rose 13.3 percent after the company today said it had reached $ 600 million agreement with Airbus to supply spare parts for A320 planes until 2025.

News and Review of European Economic

European Banks Need Additional Capital

Monday, October 17, 2011

Christine Lagarde, director of the International Monetary Fund, on Monday said that European banks should strengthen their capital. "Priorities for European banks is to seek funds from their shareholders and as a last resort, if this is not enough, collective mechanism, which may include state intervention, may be approved," he said in an interview with Europe 1 radio on Monday the afternoon.

He added that banks should protect their retail activities of investment banks. Lagarde said the IMF does not require additional funding to support countries that might need it. "I think the IMF has a proper way for the moment," he said.

News and Review of European Economic

European Stocks Stable, Welcomes G20 Meeting Results

Monday, October 17, 2011

European stock markets continue rally on Monday, as investors responded positively to the commitment of European finance ministers after the G20 meeting over the weekend that have committed to take action quickly and decisively address the debt crisis of Europe.

This comment sparked positive expectations on the EU summit on 23 October, anticipating the perfect solution terkerek European stock markets rose, but looking ahead there is still a risk of weakening if policymakers fail to provide solutions.

Other data are awaited earnings reports among other banking giants, Citigroup Inc. and Wells Fargo & Co. before the opening session of New York.

News and Review of European Economic

EUR / USD Continues by Post G20 Summit

Monday, October 17, 2011

EUR / USD back tersupport and moving up into the range of 1.388 this afternoon, near the highest point in the last month. The euro looks to gain momentum after the G20 meeting that gives new hope for solving the debt crisis in Europe. EUR / USD was down for a moment in the Asian session due to profit taking lightly, but soon got back into the European session. G20 meeting last weekend seems to give a positive signal for new strategies that had been discussed most likely to be implemented next week

Bloomberg Survey: Actors Market Still Bullish On Gold

Friday, October 14, 2011

Gold prices turned positive after weakening Thursday but failed to penetrate beyond the trading range as the price of being detained by the U.S. dollar is still stable. Increase in the direction of Gold stock market trading continues strong enough correlation with risky assets such as the Euro and the opposite direction to the dollar.

Strengthening Gold for the second consecutive day was triggered by worries European debt crisis and the increasing demand for physical gold ahead of religious festivals in India, on the whole Gold entered into the 11th year in a state of the bullish trend in the successive periods of the year, with record highs in the level $ 1,923 on September 6.

Since reaching record highs, gold has dropped sharply to record the greatest attenuation of up to 20%, the biggest drop in 3 years. Looking ahead, according to a Bloomberg survey of most market participants still expect gold to strengthen next week, the last time the survey results show traders and analysts are very bullish, gold rocketed 21 percent to the point of all time highnya in 8 weeks.

Some central banks also appear to accelerate the purchase of Gold, among others Thailand, Bolivia, and Tajikistan in total have been buying gold up to 18.2 tons, according to a recent IMF data.

News and Economic Review Asia (Singapore)

Stronger SGD, Singapore's Main Stock Index Up

Friday, October 14, 2011

Singapore dollar in trading today (14-10), monitored strengthened against several major currencies.

These developments respond to the performance of stock trading today reported strong.

STRAITS TIMES INDEX FTSE reported improved + 0.04% and the FTSE ST All Share Index rose +0.15% was reported.

Analyst Research Vibiz of Vibiz Consulting suggests that the Singapore dollar strengthened tracked moving around + 0.22% against the Euro currency in forex trading today.

Monitored Singapore dollar exchange rate strengthened revolving around + 0.53% against the U.S. dollar.

Based on Bank Indonesia rate announcement today Singapore dollar selling rate in the range of Rp. 7018.22/SGD and buying rate of about Rp. 6943.66/SGD.

News and Review of European Economic

Chancellor Merkel Not Show Consistent Attitude

Friday, October 14, 2011

Many people expect the G20 forum next month could bring fresh air for European recovery effort. But is not the case with the German chancellor, Angela Merkel. He made ​​a statement before the bigwigs different region of 180 degrees with what He lay out in front of the German people.

Merkel stated there would be no dramatic policy changes of the G20 forum. "There will be no surprises," Merkel said in a speech at a trade union conference, Karlsruhe. Statement Merkel is very different from the belief that he uttered this month with Nicolas Sarkozy. On one occasion, France and Germany to mention that both countries are preparing plans to resolve the crisis of Europe. The resolution will be released on the G20 forum in November, as promised two heads of state.

Speaking in front of members of IG Metall workers in the southern part of Karlsruhe, Merkel said that Germany would only take a big step, just when more benefits than disadvantages. The chancellor once again blamed the policy of troubled European nations, which owe more without being able to boost competitiveness. The situation lasted for years and all members of the euro should be affected at this time. To overcome these problems, the German could not find a solution in just one night.

At the end of her speech, Merkel asked European leaders to determine attitudes towards the banking sector. The option to let the bankrupt banks can only be removed without damaging effects that can be the region's financial system.

News and Economic Review European (Spanish)

Spain: Downgrade due to the European situation is precisely

Friday, October 14, 2011

Spain has just received a downgrade of bonds from Standard & Poor's today. As if not accepted, the State asserts that the economic situation the region is the source of performance degradation fiscal Spain.

Spain rating cut from AA to AA + by S & P, following a similar thing done by Fitch last week. S & P monitors the structural and constitutional reforms in the country which aims to cut its budget deficit. However, Spain saw the S & P is not objective because it does not take into account the changes were made to the government to expand employment. According to Economy Minister Elena Salgado, although later the Spanish should use public money to recapitalize, debt ratios remain relatively low. Salgado did not see the country fail to maintain fiscal health, but the current situation in Europe makes the country difficult to do more.

Salgado opinion is reinforced by the opinion of the European Economic Commissioner spokesman, Amadeu Alfataj. "Spain has made an important step in its balance sheet in order to meet the requirements of the authority," said Alfataj. Throughout 2010, Spain is considered capable of keeping the deficit target agreed. Alfataj assume it is true if there are financial risks in the country, but the government managed to cover it well.

Prime Minister Jose Luis Zapatero is working to cut its budget deficit to 6% this year. Because in 2010 ago, recorded a deficit of 9.2%. The attitude of the S & P today's increasingly prone to reinforce the notion that Spain followed Greece, Ireland and Portugal to the list of countries that should be bailed out by the European Union and the IMF.

News and Review of European Economic

European Stock Raised, G20 Expectations

Friday, October 14, 2011

European stock markets showed a solid performance on Friday, after a bad start due to the investors placed great hopes on the outcome of the G20 finance ministers meeting in Paris to provide a detailed plan to help the European sovereign debt crisis.

The investors hope, especially the meeting may give details of regional banks and the recapitalization plan also increased the capacity of the IMF bailout loans.

The positive sentiment is expected to continue on Wall Street stock indices, although rating agencies S & P cut Spain's credit rating from AA-from AA previously. Nevertheless the Spanish IBEX 35 stock index, fell 0.9% observed underperform compared to other European stocks.

In addition other rating agency Fitch Ratings downgrade also four European banks, among others Lloyds Banking Group and Royal Bank of Scotland and UBS. Lloyds Banking Group slumped 1% was observed, while BNP Paribas fell 3.7%, and Deutsche Bank fell 2.1% and UBS fell 0.9%.

Crude Oil Weakens, fuel demand in China Down

Thursday, October 13, 2011

Crude oil price movements for this afternoon (13/10) recorded a weakening in line with the speculation about the decline in fuel demand in the U.S. and China. It is characterized by the presence of speculation about will rise in U.S. crude stocks data for the last week of 400 thousand barrels.

At the same time, the number of Chinese fuel demand during the month of August were reported to have decreased by 30 thousand barrels to 4.92 million barrels to bring speculation China's economic weakness in the third quarter ago.

Crude oil futures declined by 1.27% to 84.3 dollars per barrel. Meanwhile, Brent crude oil declined by 0.5% to 111.84 dollars per barrel.

According to the analysis of the Division of Research in Vibiz Vibiz Consulting, crude oil price movements are expected to still potentially weakened by the support level of 84.12 dollars per barrel and resistnt level of 86.27 dollars per barrel. Investors will be waiting tonight predicted the release of U.S. jobless claims data.

News and Economic Review Asia (Korea)

Kospi Closed Up, Maintaining Positive Trends

Thursday, October 13, 2011

Korea Stock Exchange in trading today (13/10) to close at higher positions. Still maintained a positive trend since the beginning of trading this week and getting stronger after overnight U.S. stock market showed an increase that is sustained by a rise in stocks is driven by speculation bluechips will rise in profit for the third quarter report.

Kospi index closed up by 0.75% to 1823.10 basis points. While index futures rose by 1.54 points to 238.2 basis points with the support level of 237.94 points and 240.89 points for the level resistant.

The shares which increased the stock of which is Hankook Tire's son 2.76% to 39,050 won, Daedong shares rose 0.7% to 3585 won and Salum shares rose 1.81% to 1405 won.

According to the analysis of the Division of Research in Vibiz Vibiz Consulting, the Korean stock movement for tomorrow is expected to be still more likely rebounded in the territory, though still limited to between 1820 - 1840 basis points.

News and European Economic Review (Switzerland)

Swissie Report Production Sector Urged

Thursday, October 13, 2011

Swissie on trading currency pair USD / CHF noon today (13-10) tracked down and the pair is trading at around 0.8971.

Swissie weaker as the presence of a negative indication on the Swiss economy, where it is shown by the still negative performance in the production sector in the country.

Indicator PPI m / m are reported only improved slightly to -0.1% which was previously thought to be able to show positive kierja namely to 0.2%. The value of the previous value was -1.2%.

Analyst Research Vibiz of Vibiz Consulting suggests that the Swiss franc on the currency pair USD / CHF is estimated to be only a thin weakened further.

News and Economic Review Europe (UK)

Economic anxiety overload Sterling

Thursday, October 13, 2011

Sterling weakened in the London session, but still traded not so far from the high level of 4 weeks. However, analysts express concerns over the fragility of the UK economy will limit the rise in sterling space. Data yesterday showed the jobless rate rising to its highest level since 1994, while the decision of the Bank of England (BoE) which enable the Quantitative Easing program remains a negative factor for sterling. Resistant sterling near $ 1.5797 yesterday high level, with the option barrier at $ 1.5800.

Comments BoE bigwigs, Charlie Bean, who uttered the central bank can increase the amount of the asset purchase program if needed, also overload a sterling performance. Sterling recovers from lows 14 months ago due to the rise of the action week short-covering after the BoE announced the QE II. Strengthening of the EUR / USD also had a positive impact as the market is more optimistic about Europe's determination to overcome the debt crisis.

"The movement of sterling in line with market sentiment," said Lee Hardman, economist BTMU. "Sterling could continue the rally due to the continuing action of short-covering, but the increase will stop below $ 1.60 before weakening again."

News and Economic Review Europe (Slovakia)

Weekend, Europe Receive Approval Slovakia

Thursday, October 13, 2011

Slovak political officials prepare for new talks today related to efforts to reform the European Financial Stability Facility (EFSF). Voting early stages of fall in the hands of the parliament a few days ago, an event which depose Prime Minister Iveta Radicova.

The three parties in the coalition SDKU (Radicova), Christian Democrats and Most-Hid already agreed commitments by Robert Fico, head of the opposition Social Democrats (Smer). Under the deal, the government must first promise to hold parliamentary elections on 10 March next, as requested by Fico. Elections had been scheduled to take place in 2014. If the parliament approved the deal today, then Fico and third party support will determine the date of voting reforms advanced EFSF as soon as possible. Although this could be done today, most likely vote could be held about the new EFSF tomorrow Friday (14/10).

Support from Smer opposition party is very important because it has a popularity among the voters reached 40%. Fico pleaded not interested in power until democratic elections held in March next year. Voting EFSF failed last Tuesday due to a four-party coalition Freedom and Solidarity (SAS) rejected that discourse. Richard Sulik, head of SAS, Slovakia rate is the second poorest country in the euro area, which is not feasible to help other countries that failed fiscal. Now the situation is different, the public could hear the Bratislava parliamentary approval before the holiday weekend.

OPEC Cuts Demand Forecast

Tuesday, October 11, 2011

OPEC cut its oil demand forecast for the period 2011 and 2012 and warned that the outlook for demand could drop again amid global economic strain.

In its monthly report, OPEC has reduced oil demand growth forecast for this year by 180,000 barrels per day due to global economic uncertainty and weakening outlook for China and India.

OPEC Group also provides signals concerns over the imbalance of supply demand in the oil market. Overall oil demand is still growing to 900,000 barrels per day this year, while for 2012, demand growth was revised down by 70.000 barrels per day to a total of 1.2 million barrels per day.

Asian Economic News and Review (Japan)

Ended higher, Nikkei welcomes European plan

Tuesday, October 11, 2011

Nikkei index ended Tuesday trading session with the increase of 2 percent at the close of three weeks on expectations of European promises to produce a plan to protect its banking sector that would prevent the spread of the Greek debt crisis.

The benchmark index gained about 5 percent increase from the level below its intraday lows since March 15 at the 8.343 level which touched on last Wednesday, when the index plunged to as low as 8.227 in Japan hit by earthquake and tsunami.

After the national holiday Monday, the benchmark Nikkei rose 168.06 points to 8,773.68 level, after rising up to the level of 8,806.44 in the morning session, its highest level since September 16. The broader Topix index rose 1.8 percent and ebrakhir at 755.00 level.

Industrial robot manufacturer Fanuc Corp. surged on the news will replace the Tokyo Electric Power Co. in the index while the Topix Core 30 shares of exporters who suffered severe blows like Sony, Komatsu and Honda performed brilliantly, all recorded an increase of more than 5 percent.

European officials doubt on the actual joint strength can muster against the debt crisis that could inhibit the increase. Tehninal analyst at Mizuho Securities, Yutaka Miura, said that the oelaku highly dependent on the expectations of policy on real policy and belom still no guarantee of effective policies, with targets for the Nikkei index to be around the level of 8.800 to 9.000 for the next few days.

News and European Economic Review (UK)

NIESR GDP Estimate Released ahead of Sterling Weakens

Tuesday, October 11, 2011

Pound sterling currency on foreign exchange trading GBP / JPY noon today (11-10) tracked down and the pair traded at around 119.74.

Pound Sterling weakened with the increase of negative investor sentiment, the expectations associated with decreased performance on the UK economy as a whole.

NIESR GDP Estimate indicator is still not expected to show an encouraging performance, while the value of the last period is 0.2%.

Analyst Research Vibiz of Vibiz Consulting suggests that the currency Sterling on the currency pair USD / JPY is expected to weaken further still, especially to data made ​​public.

News and European Economic Review (UK)

Sterling overload gloomy UK economy

Tuesday, October 11, 2011

Sterling weakened by the rise of profit-taking after a rally yesterday. Sterling also susceptible to a sell-after economic indicators have not managed to eliminate anxiety about the dismal performance of the UK economy. Industrial production increased 0.2%, but manufacturing output fell 0.3% for the month of August. Traders also saw a sell-by Asian institutional investors and profit-taking after GBP / USD reach 1.5689 yesterday.

"Today's data is quite mixed. There was no significant difference between industrial production and manufacturing, but the overall trend is still lower production and is certainly not a positive impact for sterling," said John Hydeskov, an analyst at Danske Markets. GBP / USD rally since the touch-level 14-month low after Bank of England announced the reactivation of the program Quantitative Easing (QE). However, analysts predicted the UK economy and weak support for QE BoE's Miles can keep the UK monetary policy remains very loose for a while.

News and European Economic Review (Greece)

Troika: Greece Will Get Help In Early November

Tuesday, October 11, 2011

Greece will most likely get the next rescue package worth 8 billion euros is needed to prevent bankruptcy in early November, as noted by the inspector EU, IMF and the ECB in a joint statement on Tuesday.

After the Eurogroup and the IMF executive board members approved the conclusion of the Troika of the fifth review, the next Euro aid package consisting of 5.8 billion Euros from the EU and 2.2 billion Euros from the Fund will be available in early November.

However the response of market participants are still at least by the news of this troika, because the overall market is still hope for further progress to prevent transmission of the debt to other areas such as Spain and Italy.

Gold Gains Above $ 1660 after the Treaty Merkel Sarkozy

Monday, October 10, 2011

Gold rocketed more than 1.60% on Monday due to falling U.S. dollar against the euro after France and Germany promised to submit a proposal recapitalize banks, while market participants are tense waiting for details of the plan.

German Chancellor Angela Merkel and French President Nicolas Sarkozy said on the day of the weekend that they are seeking new solutions to the problems of the Greek debt and recapitalize the banking sector. The news was greeted positively by traders after the precious metal prices slumped about 20 percent in September due to the strengthening U.S. dollar is quite sharp.

So far the physical gold demand from China helped shore up prices, especially for long-term, while short-term movements are still mixed due to fluctuations in gold which is quite sharp cast doubts on the predicate safe-haven gold which usually has the character of low risk and low volatility.

News and Economic Review Asia (China)

China Want U.S. to Prevent Trade War

Monday, October 10, 2011

China's foreign exchange re-affirm the law proposal which can be passed the U.S. Senate could cause a trade war and hurt in US-China relations, according to Chinese Vice Foreign Minister Cui Tiankai. Cui uttered the US-China trade war could hurt U.S. employment growth and inhibit the economic recovery of the world. The U.S. Senate is scheduled to do a vote on Tuesday on a proposal that would raise the tariff law of imported products from countries that are deliberately keeping its currency undervalued.

Many economists claim China to keep yuan exchange rate to provide a competitive advantage for exporters in the global marketplace. However, Beijing has stressed to do a gradual yuan reform, which has appreciated 30% against the dollar since 2005.

Meanwhile, the dollar weakened in early New York session, the EUR / USD and GBP / USD 1.3576 and 1.5645 near the daily high levels respectively in 1.3604 and 1.5664