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News and European Economic Review (Germany)

German parliament will Loloskan EFSF

Friday, August 26, 2011

Christian Democrats party leader, Peter Altmaier, express his belief that the parliamentary coalition will be able to achieve a majority vote to loloskan European Financial Stability Facility (EFSF). Christian Democrats are the party that controlled by the German Chancellor, Angela Merkel.

Told ZDF television, Altmaier said there will be a majority vote supported by the ruling party, and coalition-that is conservative and the Free Democrats, when the parliament did vote on ESFS on 23 September. Altmaier also argued the issue the government must rely on opposition parties to loloskan ESFS.

The euro does not feel much benefit from this positive news while traders wait for Fed's Bernanke's speech at 2100 GMT. EUR / USD traded 1.4402, slipping from a high level of 1.4455 in early New York session. Meanwhile, the German stock exchange (DAX) fell 2.5% as investors worried about the possibility of a credit ratings downgrade Germany although Fitch, Moody's and S & P rated AAA has stressed Europe's largest economy is.

News and European Economic Review (Greece)

Greece Threatens Ignore the Bond Swap Plan

Friday, August 26, 2011

Greece warned would ignore the swap plan, which became a prerequisite of a second bailout, if the participation of investors is too little; is certainly caused anxiety how Athens can pay off its debt load that reached? 150 billion. subtract the strengthening euro after the news was released, EUR / USD traded 1.4412, slipping from a high level of 1.4455

Swap plan is expected to reduce the debt burden of Athens? 37 billion if the participation of the private sector reached 90%. However, Athens was given room to maneuver as he uttered the cancellation of the swap plan will occur if the number of participation does not satisfy the EU and the IMF.

Earlier signs have emerged that will Athana difficulty persuading banks to participate in exchange programs of government bonds that will mature in the near future. Institute of International Finance said the amount of participation has now reached 60% - 70% and the amount will increase if Athens will lay out more details bonds exchange scheme. Nevertheless, most analysts menilah 90% target is too ambitious.

News and European Economic Review (Switzerland)

Post-franc depreciates KOF Data

Friday, August 26, 2011

Swiss franc traded lower on Friday after a report showed the economy KOF leading indicator for the Swiss lower than expected, amid rumors that there is further action by the SNB in order to curb currency appreciation.

usd / USD rebounded from a low position in the area daily 0.7890, up about 60 pips higher to reach the 0.7950 zone and restore the entire intra-day decline. Currently USD / CHF is still offered daily around the peak level at 0.7955 or 0.25% above the opening price level before Bernanke's speech.

The euro moved higher against the franc, and had shot up to touch the daily highs at 1.1472 before heading back down a bit. Today EUR / CHF 1.1450 and was perched on the range so far has garnered an increase of 0.35%.

Asia Session Consolidated Gold Price, Possible Rise Still Open

Thursday, August 25, 2011

In afternoon trading the price of gold appears to be still tend to be stable and have reasonable consolidation after two successive days fell by 7% (08/25). The price of gold moved in the range of today's positive-negative and tends to be in a stable position than the close of trading early this morning.

The price of gold has the potential to move rebound after posting the biggest drop since February 2010 on the trade last night. Investors are still seeking a safe haven asset amid the global financial market conditions are still filled with uncertainty.

Gold prices declined sharply over 100 dollars in trade last night amid expectations that financial market conditions will begin to stabilize. Demand for safe-haven fallen sharply also triggered by the strengthening U.S. dollar exchange rate.

At today's spot price of gold seems to be in the position of 1753.50 dollars per troy ounce, suffered a slight decline from 08.01 dollars the close of trading early this morning. Spot gold price today has undergone movement in the range 1742.90 - 1766.40 dollars per troy ounce.

Analyst Research Vibiz of Vibiz Consulting estimates that the price movement of gold will still tend to have limited further correction. Demikiankenaikan Although prices are still possible because the current market players are still looking for safe haven assets. It is estimated that gold prices will again try to penetrate the 1800 dollar level.

News and Economic Review Asia (Japan)

Nikkei Up 2.3%; Automotive and Parts Manufacturers Up

Thursday, August 25, 2011

Nikkei continues early gains, now up 2.3% at 8830.34 (8763.16 vs midday closure), led by major automobile and auto parts supplier - a combination of the weakening yen, and U.S. durable goods data overnight, and the next rally in the United States, said Yoshihiro Okumura, from Chibagin Asset Management.

"Gold is also separated from a recent high, suggesting that investors switch back into equities for now," he said, warning that the switch may only be temporary ahead of U.S. Fed chief's speech Monday, Bernanke.

"The U.S. market, seen from three straight days of gains, was anticipated with some type of monetary easing. We must be ready for next week's sharp decline if the Fed does not actually deliver it tomorrow night," said Yutaka Miura, senior technical analyst at Mizuho Securities.

Nissan Motor rose 6.7% to Y671, while Honda Motor climbed 5.4% to Y2, 444. Denso rose 5.7% to Y2, 361.

News and European Economic Review (UK)

UK Retail Sales Down to -14

Thursday, 25 August 2011

UK retail sales fell more than forecast in August, declined at the fastest pace since May 2010, industry data showed on Thursday.

In its report, the Confederation of British Industry said the index results from the UK retailer fell 9 points to -14 in August from the previous data -5 in July. Analysts had expected the index fell to -10 in August.

After the release of the data, higher fractional pound against the U.S. dollar, the GBP / USD rose slightly 0.04% trading at 1.6383.

Meanwhile, European stock markets climbed higher. FTSE 100 up 0.1%, the Euro Stoxx 50 rose 0.7%, France's CAC 40 up 0.65%, while Germany's DAX rose 0.5%.

News and European Economic Review (Switzerland)

Swiss Fall Into Economic Sentiment -71.4

Thursday, 25 August 2011

Economic sentiment in Switzerland fell for the fourth consecutive month in August, due to the strong Swiss franc and worries over the euro zone burdensome debt crisis, data showed on Thursday.

In its report, the Center for European Economic Research (ZEW) said the economic sentiment indicator fell 12.5 points to minus 71.4 in August from minus 58.9 reading in July.

Readings above 0.0 indicate optimism on the indicator, while scores below 0.0 indicate pessimism. Indicators for assessment of the current economic situation also noted a sharp decline, down 18.6 points to minus 34.3.

Expectations regarding inflation and interest rates also declined in August. Only 14.3% of the financial market experts surveyed expected inflation on the horizon six months ahead.

None of the experts expect a rise in interest rates within the same timeframe.

After the release of the data, the Swiss franc rose against the U.S. dollar, with USD / CHF shedding 0.34% trading at 0.7931.

News and European Economic Review (French)

Ahead of the presidential election, Sarkozy Release Trimming Programme

Thursday, August 25, 2011

Specter still haunts the deficit of the European economies. One of the industry giants, french, even had to carry out the pruning step in order to protect the balance of state finances.

Today France inaugurated the program cuts to reduce budget deficits. Strata most affected by the government's strategy is to large corporations and groups with high incomes. In the implementation later, residents were forced to upper middle swallow the bitter pill of government policies Nicolas Sarkozy. However, efficiency programs in France nuanced politics. Moreover, the decision was taken eight months before the presidential election, which returned followed by Sarkozy. Predana Minister Francois Fillon said the program cuts could lift the popularity of Sarkozy as the most credible figure to lead France. "The credibility of candidates is a major issue in the upcoming presidential election," said Fillon.

As several articles trimming France among others; certain class income tax increase from 12.3% to 13.5% in order to increase state revenue of 1.3 billion euros. In addition there is also the application of taxes for the real estate sector that can inject 2.2 billion euros revenue in 2012. Adjustments are also made with the tobacco price increase in the ratio of 6% per year (until 2012). As for residents with incomes above 500 thousand euros per year are forced to spend more in order to meet the 3% tax burden. There are still some articles that should receive parliamentary approval in advance. Through these efficiencies, France is expected to erode the deficit to below 3% of GDP next year. Currently, the French deficit is still around 5.7% or better record than last year, 7.1%.

The government cut its economic growth projection for 2011 from 2% to 1.75%. The 2012 growth is estimated to equal the numbers on this year than previously projected (2.25%). Fillon stated that the economic slowdown in the United States (U.S.) and Europe forcing it lowered expectations for GDP.

Gold Futures Extend The decrease

Wednesday, 24 August 2011

Gold futures fell on Wednesday, extending a sharp decline from the previous session as investors continued to exit the market to lock in profits from the rally that took prices to a record high, while spot gold prices advanced amid strong physical demand.

On the Comex division of the New York Mercantile Exchange, gold futures for October delivery was trading at USD 1,846,15 per troy ounce in late Asian trading, shedding 0.7%. Previous fell by 1.5% to trade at the lowest daily for USD1, 827.95 per troy ounce.

Gold futures fell nearly 3.65% on Tuesday, the biggest one-day decline since February 2010.

News and Economic Review Asia (China)

Domestic Strong, Bank of China Profit Up 28%

Wednesday, August 24, 2011

Bank of China Ltd., the bank's largest foreign exchange lender in China, on Wednesday afternoon said net profit rose 28% in the first half on the strength of domestic business.

Bank of China, which is nearly 70% owned by the Chinese government, said net profit for the period January to June of 66.51 billion yuan (U.S. $ 10.4 billion), up from 52.02 billion yuan a year earlier. These results are slightly better than the average estimate of eight analysts who predicted a net profit of 65.46 billion yuan.

The bank said net interest income rose 20% to 110.22 billion yuan at the end of June, while non-interest income from credit cards, wealth management product sales and international trade-related settlement and clearing increased 36% to 55. 76 billion yuan.

News and European Economic Review (Greece)

Funds for Rescue Package Fails Greek Threatened

Wednesday, August 24, 2011

European governments re-zone to discuss plans to have the Greek government assets including real estate company or the Greek government offered as collateral to fund the rescue Greece.

The discussion went along Finland's rejection if not provided such collateral, though German Chancellor Angela Merkel rejected the deal, since it is unlikely there is only one country that gets the collateral so that other countries also want a similar deal. Though Finland is only contributing about 2% of the total rescue fund for Greece and other member states have a greater contribution.

This impact on the Greek sky-rocketing rise in bond yields 240 basis points to a new record of 42% for 2-year tenor, while the tenor of 10 years, soared 55 basis points to as low as 17.97%. Bond yield Portugal, Italy, Ireland and Spain still a bit better supported by the purchase of the ECB.

News and European Economic Review (Germany)

German Ifo Business Index August Falling Into Low 14 Months

Wednesday, August 24, 2011

German business optimism declined in August to the lowest 14 months, as the company hopes to reduce exports amid global market turmoil, the German Ifo research institute said on Wednesday (24 / 8).

Ifo business climate index fell to 108.7, down from a record in July at 112.9 and below the consensus forecast at 111.0 analysts polled by Dow Jones Newswires.

"The company has reduced its expectations of business development within a half years," and manufacturing "lowered expectations for further export business," Ifo President Hans-Werner Sinn said. "The German economy is not immune to the turmoil around the world today."

Measuring earlier reached a record high of 115.4 in February after nine consecutive months of increases.

Respondents' assessment of their current conditions fell to an index level of 118.1 from 121.4 in July, while the sub-index reflects expectations for the next six months fell to 100.1 from 105.0.

Ifo survey came a day after the serial index German ZEW economic expectations were observed near the sharp decline recorded since August 2002, slumped to -37.6 in August from -15.1 in July.

German economy grew just 0.1% quarter-on-quarter in April-June period, down from 1.3% in the previous quarter, the state statistics office said last week.

However, the German Bundesbank confirmed this week expect the economy will continue to grow in the second half of 2011, and extending approximately 3% for the year overall.

"The situation of today's business continues to be assessed overall as a good thing," said Sinn.

News and European Economic Review (Switzerland)

Swiss Franc pullback, Sector Consumption Mute Pressure Against U.S. Dollar

Wednesday, August 24, 2011

Swissie on currency trading pair USD / CHF tonight (24-08) tracked down and the pair traded at around 0.7894.

As rival the U.S. dollar, Swissie weaker as the presence of positive signal in the United States economy. This is indicated by an increase in the consumption sector performance in the country.

Core Durable Goods Orders Indicators m / m reported to increase to 0.7% previously forecast to fall to -0.3% from the previous value of 0.4%.

Analyst Research Vibiz of Vibiz Consulting suggests that the Swiss franc on the currency pair USD / CHF is predicted to weaken further thin.

Technical Gold: Time for Profit Taking!

Tuesday, August 23, 2011

December gold futures contract soared again to new record high levels continue rising sixth straight day, while still a solid technical trend shows an increase but short-term technical indicators indicating the last rally needs to be corrected or at least turned into a temporary period of consolidation.

Gold rally since July 1 at the level of 81 per troy ounce has soared to its highest level in Tuesday's 11.93 new, without any substantial price correction. A very strong bullish trend usually requires a temporary downward correction to the market over a period of overbought / overbought.

Short-term overbought indicators monitored at the point of extreme, such as RSI above 70 and at the same time forming a bearish divergence pattern. Overall bearish divergence pattern is often used by traders as a signal of potential danger of short-term correction in the near future.

Using Bollinger method also indicated the price has touched the top line of the Bollinger but failed to close outside the Bollinger area. It also indicates the potential for a period of consolidation in the next few days.

News and Economic Review Asia (Japan)

Japan's PM Resigns

Tuesday, August 23, 2011

Japanese Prime Minister Naoton Kan likely to resign on Tuesday next week, a day after the ruling Democratic Party will determine Japan's new leader during the next 5 years.

Strong candidate successor is former foreign minister of Japan Seiji Maehara is touted as "Tony Blair" on the charisma of his Japanese was in front of the camera, Maehara is also known as a profile that is less like China and North Korea. At his age the 49th, Maehara will become the youngest PM in Japan if he managed to win the votes of the parliament.

Most observers say the Japanese government is still difficult to stabilize. At the same time Finance Minister Yoshihiko Noda said in the other cabinet members to cut budget expenditures by about 10% of 2012 levels this year, worth $ 15.6 billion. The plan the government will use the budget for health and pension benefits, an increasingly uphill due to an increase in the aging population.

News and European Economic Review (Germany)

German manufacturing PMI at 52.0 Release Not Be Changed

Tuesday, 23 August 2011

German manufacturing PMI unexpectedly remained unchanged last month (UNCHANGE), preliminary data showed on Tuesday.

In a report, Markit Economics said that the German manufacturing PMI remained unchanged at a seasonally adjusted 52.0 from 52.0 the previous month.

Analysts expect the German manufacturing PMI fell to 50.6 last month.

News and European Economic Review (Germany)

German Economy Fall Far from Expected

Tuesday, August 23, 2011

German economic expectations fell further than expected in August, said the Center for European Economic Research, which is also known as the ZEW, on Tuesday (23 / 8).

Generally tracked the index fell to -37.6 in August, revised -15.1 in July. Experts expect the index to fall to -26.0.

Current conditions index slipped to 53.5 compared with 90.6 in July. Experts have estimated the level of 87.5.

News and Overview of the European Economic Zone

China Data Encouraging European Market Sentiment

Tuesday, August 23, 2011

European stocks continue to trade on positive territory on Tuesday, led by the mining sector in line with metal prices moved higher after China's manufacturing sector data.

Interest in risky assets such as stocks showed an increase, with the index volatility Euro STOXX 50, which became one of the main barometer of market concern Europe, fell to 9.3%.

Germany's DAX index gained so far recorded was 1.55%, while the French CAC collect 1.74%. In Britain, the FTSE moves higher up to 1.2% by mid-session.

However, investor focus remains fixed on the Federal Reserve's annual symposium to be held in Jackson Hole, Wyoming. Meeting with the theme of economic stagnation were expected to provide signals about the Federal Reserve's next policy to promote U.S. economic recovery.

Darting Go Gold $ 1900

Monday, August 22, 2011

The movement of gold prices in afternoon trading today (22 / 8) recorded an increase. Gold is still eager to continue to hunt down a new record along with the negative conditions of the global economic fundamentals related decline on speculation the economic performance of China and the U.S. in the third quarter of this year.

At the same time, the movement of the Asia bourses recorded a transitional impairment as a result of investor interest in the commodity sector, especially gold metal which incidentally is the safe haven commodity.

Spot gold has increased by 1.6% to 1882.55 dollars per troy ounce with a support level at 1858.08 dollars per troy ounce and resistant level at 1893.75 dollars per troy ounce.

According to the analysis of the Division of Research in Vibiz Vibiz Consulting, the movement of gold prices is expected to still bergerakan up and did not rule on this week will hit a record in position triy 1900 dollars per ounce.

News and Economic Review Asia (Japan)

Japanese stocks slumped by weakening Kian Exporter Shares

Monday, August 22, 2011

Japanese stocks in trading today (22 / 8) recorded decreased by kentalnya still concerns over the impact of the global economy that affect the prospects of Japanese exporters sector. As a result shares of exporters today again weakened and lead to a negative movement of Japanese stocks.

Nikkei index fell by 1% to 8628.13 basis points. While index futures declined by 7 points to 8695 basis points with the support level of 8621 points and 8785 points level resistant. The broader Topix index fell 1.2% to 742.84 basis points.

Stocks that declined include Toyota's stock is down 2.5% to 2700 yen, Fanuc shares fell 4.1% to 11,650 yen and Hino Motors shares fell 4.8% to 381 yen.

According to the analysis of the Division of Research in Vibiz Vibiz Consulting, the movement of Japanese stocks are expected to weaken. Weakening exporters stocks also triggered by weak crude oil prices are now in the price range of 81 dollars per barrel.

News and European Economic Review (UK)

Attempting to Mute rate of 1.6520 Euro

Monday, August 22, 2011

After going through a phase of consolidation below 1.6500 level, Cable managed to penetrate above the resistance level to hit a daily high at 1.6519 as starting the positive market sentiment today. GBP / USD is currently trading at around 1.6510 or about 0.18% higher than the opening price today.

From a technical standpoint, Valeria Bednarik of FXstreet.com assess if "the current price still seems to be trying to overcome resistance at 1.6520, which is 14.6% retracement of the rally last bullish on the daily chart. Penetration level will probably continue the bullish trend of the pair this money to go around the 1.6580/1.6610 zone pricing. "

"To the contrary, an area of ​​1.6460 will still provide fairly strong support. In case the area is able to overcome, will probably trigger a strong bearish correction movement toward the nearest target at 1.6400, or even up to the next target in the 1.6340/50 zone," he added.

News and European Economic Review (UK)

Fiscal soundness Suspend UK Sterling

Monday, August 22, 2011

Monexnews - sterling strengthened due to the fiscal soundness of English conditions in the middle is still not a solution to the debt crisis of the euro-zone. Analysts see good prospects for sterling as investors took another currency as safe-haven assets amid the threat of intervention to the BoJ and SNB movement of the yen and the franc.

Traders see a stop-order the GBP / USD in the range of 1.6540 and 1.6620, near a high-level 3? 1.6616 months. "Sterling is now bearing the semi safe-haven status. Investors consider Britain a better condition than other developed countries, especially with independent monetary policy and fiscal discipline pursued Cameron government," said Adam Myers, strategic Credit Agricole, the prediction of GBP / USD will reach 1.7000 within a month. "More healthy fiscal condition of the UK making sterling a transitional place amid global market turmoil and the debt crisis of Europe." Investors see the pound currency undervalued compared with other G-10.

News and Overview of the European Economic Zone

Raise the Energy Sector European Exchanges

Monday, August 22, 2011

aham-European shares traded higher on Monday with leading oil and gas stocks has recorded a significant rise, with the action a number of investors bargain hunting after the sharp drop last week.

Eurostoxx 50 index advanced more than 2%, while the German DAX and French CAC collects respectively 1.55% and 2.7%. In Britain, the FTSE was trading around 2.45% higher in the first 2 hours of trading.

Oil stocks are able to attract investors in trading Monday, following the news that the rebels managed to take control of Libya in Tripoli, which increases the chances that companies like ENI and Repsol YPF will be able to continue its production activities in the country.

Even so, overall market sentiment remained fragile amid concerns over tersisanya worsening global economic outlook and the health of the EU financial sector.

Thin Oil Down, sales drop 3.7% This Week

Friday, August 19, 2011

Crude oil futures moved down on Friday, reversing the modest gains on the back of a weakening dollar by following the drop in the stock near the time of closing.

Crude oil for September delivery was down 12 cents, or 0.2%, settling at $ 82.26 a barrel on the New York Mercantile Exchange.

Previously traded as low as $ 79.17 a barrel. Oil settled lower three of the five sessions for the loss of 3.7% in the week.

In the absence of major macroeconomic news on Friday, oil took its cue from the dollar lower and gold to new record highs, said Steven Schork of the Schork Group in Philadelphia.

As the dollar index and leave the lowest shares back to the red zone, finally, give up earlier gains of oil.

The dollar index, which measures the U.S. currency against six other currencies, traded at 74.002, down from 74.216 late Thursday.

Oil fell nearly 6% on the previous session as investors worried about recession and ultimately reduce demand for oil.

Oil Falls 5.9% free on Thursday was the biggest one-day decline in percentage terms and dollar price since Aug. 8.

The decline came after a number of U.S. economic data was in the negative region, the main among them is a drop in factory activity in the Philadelphia region.

News and Economic Review Asia (Korea)

Kospi Loss, Down 6.22%

Friday, August 19, 2011

Korea Stock Exchange in trading today (19 / 8) closed sharply dropped. After yesterday had an increase, today's market can not withstand the swift pressure drop concerns over speculation China's economy and the U.S. expressed by Morgan Stanley last night.

Kospi Index closed down 6.22% to 1744.88 basis points. While index futures declined by 15.22 points to 222.6 basis points with the support level of 222.6 points and resistant level of 230.22 points.

Stocks that declined include shares of Doosan is weakened 7.89% to 122.500 won, Daelim Industry shares fell by 12.02% to 102.500 won and Yuyu Pharma shares fell 8.98% to 5980 won.

According to the analysis of the Division of Research in Vibiz Vibiz Consulting, movement in the Korean stock exchange early next week is expected to be still more likely to weaken. Rising jobless claims and the drop in U.S. manufacturing index is expected to be a stumbling block to the Korean stock exchange.