mynameisandhy

Gold corrected Despite Dollar Still In Pressure

Monday, June 13, 2011

Gold surrender of its uptrend rally even though the dollar remained under pressure against major currencies, relative to no news to exceed the trigger level of the previous peak of Gold near $ 1,555 per troy ounce.

Stock of gold bullion is still sluggish because employers get the jewelry is still uncertain after last week's uptrend precious metal prices fell nearly 1 percent, as well as posted the biggest weakness in a weekly basis.

Observed spot price of gold is still trading at levels of $ 1,525.90, the highest weekly point drop from last week at the level of $ 1,553, and is lower than the lowest point last week at the level of $ 1526.

Companies the world second largest gold miner, Newmont Mining Group saw the price of gold still has the potential to rise to $ 1,600 long-term and maybe next year could exceed those levels supported by demand from Asia. It's just that in the near term momentum has weakened and there's no new catalyst.

Flow of funds seeking safe haven assets due to the debt crisis of Europe can be a factor that sustains Gold to rise.

Based on technical studies, intraday bias is still bearish target the psychological level MA50 traded in 1509 while this level. However still consistently below the level of penetration needed in 1517 to trigger further bearish momentum. On the upper side, the nearest resistance level in 1533, through the above area to bring the price of gold into the neutral zone because of its direction becomes unclear in the short-term test the key resistance area from 1542 to 1548.

News and Reviews European Economic Zone

Range 1.4280-1.4380 Euro Moves Ahead In U.S. Data

Monday, June 13, 2011

Today the EUR / USD is predicted to move in the 1.4280-1.4380 range amid the scarcity of clues trading after the market participants prefer to focus on U.S. economic indicators after the ECB meeting last week, according to a senior dealer of Japanese banks.

"A series of U.S. economic indicators this week's highly anticipated although there was no important data released today," he said. Penjuaan retail data for May released on Tuesday, while the Empire State Manufacturing Survey for June and the May industrial production data released Wednesday.

EUR / USD at 1.4333. USD / JPY is predicted to move in the range of 80.00-80.50, at 80.34 yen. EUR / JPY in the range 114.80-115.80; EUR / JPY at 115.18.

News and Reviews European Economic Zone

Deadlock Problems Greek Drag Euro Debt

Monday, June 13, 2011

The euro fell against the U.S. dollar and reached a record low against the Swiss franc on Monday, along with disagreement among European policymakers about Greece's debt crisis triggered investors to reduce risk.

Volume was relatively thin in European markets in line with national holidays, expectations of European bond spreads widened again with Germany was costing the performance of the euro currency.

Observed pair EUR / USD -0.06% thinly traded weaker at 1.4335 level thus far. Cross EUR / CHF alone dropped -0.19% to the 1.2071 level.

Deadlock private investors with European policy makers regarding Greece's debt restructuring has triggered a sell-off, especially the ECB still oppose the German proposal bond swap.

Based on technical studies, intraday bias is still bearish as long as the EURUSD moved in a bearish channel on the graph H1, targeting 1.4200 in the short term. However still required penetration consistently below 1.4300 area to trigger further bearish momentum.

Only the rebound above the 1.4475 area is consistently just to change into a bullish intraday bias in the short term, to re-examine the strongest resistance level at 1.4695.

Outlook Demand for oil worries

Friday, June 10, 2011

Oil prices fell due to gloomy outlook for energy demand in Asia as central banks continue with monetary tightening and a weak U.S. employment situation. South Korea's central bank raises interest rates for the third time this year while the U.S. unemployment claims rose. "Bulls and Bears are fighting fierce," said Jonathan Barratt, officials Commodity Broking Services. "Prices will certainly move higher if the economic situation improved, but recent data do not support." Technicians Reuters, Wang Tao, see the recovery in oil prices will end up at $ 103.

On the other hand, OPEC failed to reach an agreement on June 8 last meeting although six members, including Saudi Arabia, has called for increased output. "With no change in OPEC output target of the U.S. economic data will be the determinant of the direction of oil in the near future," said Victor Shum, Purvin & Gertz consultancy. "The market may have been aware of OPEC's supply problems are not so significant in the near future. Most important is the actual oil supply in the market and commitment Arabia pump more oil."

From the technical side, oil is still trapped in a symmetrical triangle pattern, which may continue to restrict the movement of black gold to get out of the pattern. 110.70, the lowest price yesterday would be a support. While the penetration of 102.12, the highest price today, will help test 102.43, the highest price June 10.

News and Reviews Economic Zone of Asia (China)

China Shares Fatigue Post-Trade Balance

Friday, June 10, 2011

China shares weaken ahead of the noon-related persistence of concerns about melambannya domestic growth and high inflation prior import trade data showing higher than expected.

China's trade surplus to $ 13.05 billion in May from $ 11.4 billion in April. Imports increased by 28.4%, up from 21.8% in April and 22.0% above expectations. This is signaling that domestic demand is still strong. Shanghai Composite Index fell 0.2% to 2697.99. "The trade data did not significantly affect the market because investors do not really focus on the trade. monetary policy to give greater impact," according to the Gold State Securities analyst Li Lei. It is estimated that shares will be traded in the range of 50-points in the range of 2600.

SAIC Motor Corp. fell 1.6% to CNY17.09 and Haima Investment Group fell 0.8% to CNY5.09 amid fears of slowing growth in the domestic automotive market. Shenzhen Index down 0.4% to at 1108.53.

News and Reviews European Economic Zone

German Parliament Approves Bailout Greece

Friday, June 10, 2011

Monexnews - Euro subtract the attenuation after the German parliament approves new bail-out to Greece, it certainly can suppress market panic on the debt crisis, the euro zone. Parliament approves a resolution that also include the participation of private creditors to help the next Greek. The resolution also demanded the role of the IMF for a rescue package and want every Greek reduce its debt burden by galakan privatization program.

This resolution will be negotiated when Wolfgang Schaeuble Germany to attend the meeting euro-zone finance ministers on June 20 next and when Chancellor Angela Merkel attend EU summit on 24 June. On the other hand, sources told Reuters the French (one of Europe's policy makers) will support private sector participation if the formula can be prepared which would avoid panic in the market.

News and Reviews European Economic Zone

EUR Prone In-Depth Correction

Friday, June 10, 2011

Currency pair EUR / USD fell today due to European investors selling triggered stop-loss orders at 1.4487 level. EUR had touched 1.4465, and is currently trading at 1.4479.

The attitude of European investors are influenced by comments from Jean-Claude Trichet yesterday. ECB gives sinyak rate hike in July next. "EUR / USD moves in principle to buy the rumor and sell on fact,"said a senior bank dealer in Tokyo. After the comments in interest rates, market awaits ECB statement about Greek debt. ECB's attitude can affect the level of market anxiety on the issue recently. EUR / USD likely to fall to 1.4450, while EUR / JPY at 115.91 and vulnerable perched towards 115.50.

News and Reviews European Economic Zone (France)

April French Industrial Production -0.3% On Month

Friday, June 10, 2011

French industrial output fell for the second month took place in April because of increased energy production, the national statistics agency Insee said Friday (10 / 6).

Industrial production in the second-largest economy, the euro zone fell 0.3% in April from March. Economist dipolling Dow Jones Newswires expected a 0.5% rise.

Insee also revised figures for March fell to a contraction of 1.1% from 0.9% the previous fall.

Still, manufacturing output in April rose 0.2% from March and rose 1.5% in the last three months than ever before, said Insee.

Sideways, Gold Expect ECB

Thursday, June 9, 2011

Gold prices move sideways as investors wait for the results of the BoE and ECB meeting tonight. BoE and ECB interest rate is predicted to again defend at low levels. Gold trapped in the range 1530 - 1550 lately, but technical analysis Tao Wang Reuters predicted gold would reach in 1522 a natural correction in the short term.

ECB may give signals higher interest rates in July when the press gave konverensi tonight, according to economists surveyed by Bloomberg. Index swaps also show the ECB will raise interest rates 25 bps in July. "The market is now expecting the ECB meeting and if the central bank will provide cues tightening of gold would have the power to rally back," said Stefan Graber, an analyst at Credit Suisse.

On the other hand, the market will also need a guide U.S. monetary policy after the Federal Reserve completed an asset purchase program $ 600 billion at the end of June. There is a continued expectation of additional stimulus due to recent deterioration in U.S. economic indicators, but the Fed's Bernanke's speech gave no hint yesterday continued monetary easing.

News and Reviews Economic Zone of Asia (Japan)

Japan's Consumer Sentiment Recovers Slightly In May

Thursday, June 9, 2011

Japanese consumer sentiment improved slightly in May from the previous month, moving up for the first time in four months as the economy slowly began to emerge from the slump after the disaster 11 March.

Cabinet Office Consumer Sentiment Index rose 1.1 points to a seasonally adjusted 34.2 in May, data released Thursday showed. In April, the index was at 33.1.

Cabinet Office assessment of maintaining consumer confidence for May, said "remain severe."

News and European Economic Review (UK)

Nervousness ahead of BoE Meeting Sterling

Thursday, June 9, 2011

Fragility of the UK economy is expected to push the Bank of England (BoE) to hold interest rates remain at low levels at a meeting later Thursday afternoon.

This condition will certainly widen the difference in yield between the British and euro zone and may increase the attractiveness of the Euro against the Pound. Sterling itself is still moving restless and still depressed in the negative area after slumping against the dollar and plummeted to as low as 1-month low against the euro.

GBP deterioration especially after media reports said Moody's analyst comment that said the UK risks losing his rating of 'AAA' if growth continues to weaken and the government failed to meet the targets of fiscal consolidation, although so far the UK economic outlook was stable.

BoE meeting on Thursday afternoon is expected to continue to hold interest rates at 0.5%, and likely only will have little impact on the market considering the details of the debate on policies to be released in 2 weeks medatang minutes.

Europe Economy News and Reviews

Trichet Never Change Interest Rates

Thursday, June 9, 2011

ECB Chairman Jean-Claude Trichet today will probably play a very important role in determining interest rates and provide a signal to the governments of European countries that the European debt crisis must be resolved by themselves.

2 days after Germany's finance minister, Wolfgang Schaeuble member pressure on the ECB regarding the handling of European debt. Trichet tends to give a signal that the ECB is ready to raise interest rates for the second time in 3 months in July, indicated by a survey by Bloomberg. The central bank today will keep interest rates fixed at 1.25% level, indicated a separate survey.

News and European Economic Review (UK)

Moody's Threatens Pounds

Thursday, June 9, 2011

Pound Sterling slipped against the U.S. dollar and slumped to the lowest 1-month high against the euro on Wednesday, after a media proclaim the comments an analyst with Moody's that said if Britain was facing the risk of losing rating of 'AAA' hers if growth continues to show weakness and the government failed to meet target fiscal consolidation, although according to the rating agency's outlook for the UK economy is still stable so far.

Fragility of the UK economy is expected to push the Bank of England to keep interest rates at record lows for several months in advance, which would widen the difference in yield between the UK and the Eurozone as well as improve the attractiveness of the Euro against the Pound.

BoE meeting on Thursday is predicted to leave interest rates unchanged at 0.5%, and likely only will have little impact on the market considering the results of voting at the meeting the new policy can be known within two weeks thereafter.

While economists from FxPro, Simon Smith, considered the possibility that at least one of the two members who continue to voice rising interest rates, Martin Weale and Spencer Dale, have revised their views following a poor recent British data.

Currently, GBP / USD traded at around $ 1.6395 or 0.27% is still below the level of today's opening price.

Gold Look forward to the ECB decision

Wednesday, June 8, 2011

Gold market related down pending the outcome of the European Central Bank meeting on Thursday (09/06).

Spot gold in the range of 1.541 USD / troy ounce, down $ 4.30 from the closing of the New York market. The increase in interest rates to help strengthen the EUR / USD, USD-based commodities, including precious metals. Investors holding other currencies when the dollar weakens. Gold had opened higher, touching a high level at $ 1,546.39 per ounce after the head of the Federal Reserve, Bernanke's comments about the condition of U.S. economy on Tuesday (07/06). But until there is clarity about the European rate hike, gold will likely continue to be in the range of this sat level, according to traders based in Singapore.

"Strengthening of gold this morning due to Bernanke's comments on Tuesday, but the current gold market again weakened and apparently will not move higher," he said.

News and Reviews Economics Asia (China)

In 2010 China Top World Oil Consumption

Wednesday, June 8, 2011

In the year 2010 as the largest country in world oil consumer is China overtaking the U.S. as moving the world economy since 1973 after the price increase recently.

Request energy increased sharply in 2010 primarily fuel consumption miyak be the fastest since 1969. Thus quoted from the Review of World Energy from British Petroleum (BP), published today.

Global oil consumption grew 3.1% or 2.7 million barrels per day. Chinese oil consumption rose 11.2% or 860,000 barrels per day.

"This reflects the cycle factor and I think very clearly China think about the problem (consumption) is. China is not merely thinking about economic growth but also to maintain social cohesion by creating a more sustainable growth. In short they are worried about energy supply security and climate change," said Chief Executive BP, Bob Dudley.

This year the global energy market is tough in the face of significant interference from Libya and Japan. Global energy consumption increased strongly in 2010 following the global recession. With consumption growth reached 5.6% which is the highest since 1973.

News and Reviews European Economic Zone (France)

French Broad Budget Deficit In Greek Loan Payment

Wednesday, June 8, 2011

French budget deficit to reach EUR61.4 billion at the end of April, wider than a year ago as an improvement in tax revenues and spending reductions more than offset by exceptional items, including cash advances to Greece, the budget ministry said Wednesday.

In late April last year, EUR56.2 billion budget deficit.

However, compared with previous years still subject to "little meaning" as the latest figures again marked by extraordinary items EUR14.6 billion, the ministry said budget. Extraordinary items consist primarily of cash disbursements to the Greek loans and advances to local governments, the ministry said.

Expenditures in the general budget to reach EUR128.2 billion at the end of April, down from EUR130.6 billion recorded at the same time in 2010.

Revenue increased to EUR88.6 billion at the end of April from EUR81.6 billion at the end of April 2010.

News and Reviews European Economic Zone (Germany)

Germany's Manufacturing Output Down 0.6% In April

Wednesday, 8 June 2011

German manufacturing sector output fell 0.6% appear in April, the country's economic department reported on Wednesday (8 / 6).

Economists expect a flat note for the month of April. "Figures today showed German growth engine roar period may be over.

However, the machine does not stutter, it's a little buzzed, "said Carsten Brzeski, economist at ING Bank.

News and Reviews European Economic Zone (France)

Franch Broad Budget Deficit In Greek Loan Payment

Wednesday, 8 June 2011

French budget deficit to reach EUR61.4 billion at the end of April, wider than a year ago as an improvement in tax revenues and spending reductions more than offset by exceptional items, including cash advances to Greece, the budget ministry said Wednesday.

In late April last year, EUR56.2 billion budget deficit.

However, compared with previous years still subject to "little meaning" as the latest figures again marked by extraordinary items EUR14.6 billion, the ministry said budget. Extraordinary items consist primarily of cash disbursements to the Greek loans and advances to local governments, the ministry said.

Expenditures in the general budget to reach EUR128.2 billion at the end of April, down from EUR130.6 billion recorded at the same time in 2010.

Revenue increased to EUR88.6 billion at the end of April from EUR81.6 billion at the end of April 2010.

Gold Safe-Haven, Demand Maybe Restricted

Tuesday, June 7, 2011

Spot Gold trading in a narrow band and the possibility to track the EUR / USDI week, Citigroup analyst David Thurtell said. "It's like getting a second Greek (bailout) package, and that will in some sense tend to limit safe-haven demand (gold)," Thurtell said. Last week, the euro-zone officials struck a tentative agreement to provide Greece with more funding to help the country avoid default on sovereign debt. Spot gold traded at $ 1,544.80 / oz, up 90 cents from the previous close.

In the case of some central banks consider attractive economic and fiscal stimulus, gold is likely to affect, Turtell said. The three major central bank - Reserve Bank of Australia, Bank of England and European Central Bank - are scheduled to meet this week to discuss the twin challenges of rising inflation and slowing global growth

News and Reviews Economic Zone of Asia (Japan)

Bright prospects for Japanese stocks

Tuesday, June 7, 2011

Survey conducted by Goldman Sachs Japan to investors indicates that most investors expect the Nikkei to the end of 2011 will move in the range of 10.000 to 11.000.

Technology stocks, real estate / construction, auto and finance will become the best-performing stocks. The survey, conducted over two days called "Japan Rising." Surveys show that most Japanese equity investors chose to be cautious due to economic and political conditions at this time of uncertainty. "Politicians are more critical of the Japanese economy and the stock market than ever before," he said. The majority of respondents also believe the USD / JPY will be in the range of 80-90 at the end of 2011.

News and Reviews European Economic Zone (France)

Consistent Swiss franc weakened

Tuesday, June 7, 2011

The weakening of the Swiss Franc likely continue in the foreseeable future. Thus the view of some forex technical analysts recently.

Having gained more than 130 pips against the U.S. dollar last week, the Swiss Franc was traded in the range of 0.8384 and 0.8325. "USD / CHF fell sharply last Friday (03/06), near the low level of 0.8328 is seen today," said Kshitij Consultancy Services. "Looking at the weekly candle, there is a potential fall back towards 0.8250 or even 0.8200. Looking at the monthly candle movement, may be seen towards 0.8000. "

Currently the currency is 0.8355, about 10 pips above the opening of the Asian session. Resistance is probably going to be in the level of 0.8381 (high June 1), 0.8464 (May 31 low) and 0.8510 (low May 27). In the movement of the decline, according to analyst team of Kshitij Consultancy Services, the level of support will be at the level of 0.8253 and 0.8200 (psychological support level).

News and Reviews European Economic Zone (UK)

Sterling Not Moving From Negative Territory

Tuesday, June 7, 2011

By noon Sterling continues to move dikisaran correction on Tuesday after falling to levels in one-month low against the euro on positive sentiment related to the interest rate gap differences make the single currency is likely to strengthen.

While the International Monetary Fund (IMF) on Monday reported it raised the prospect of England monetary policy loose next.

Estimated annual economy from the IMF stipulates the general UK economic recovery is on track but continued quantitative easing may prove necessary if growth continued to weaken.

Technically for the moment the nearest resistance is at $ 1.6360 Sterling, through this level will be strong enough to carry the GBP to a level of $ 1.6400 which is the moving average indicator of the level of MA-7 day at the daily charts.

News and European Economic Review (UK)

Outlook Recovery disturb Sterling Performance

Tuesday, June 7, 2011

Sterling weakened in London after the session had achieved a high level 3 daily 1.6460 in early Asian session. Traders dismayed by the British outlook recovery after recent economic indicators suggests the fragility of the recovery. Gloomy economic outlook will certainly give a reason for the Bank of England to hold rates again in the near future. BoE's Fisher even consider additional stimulus if the economy continues to deteriorate. BoE will langsungkan monthly meeting on Thursday.

Sterling was also pressured by the daily reports the Observer, who wrote the previous government advisers see a coalition government may need to revise the budget-cutting plan for dealing with growth attenuation. "The publication of economic data last quite bad and there is a question of tightening fiscal policy," said John Wraith, strategic Bank of America-Merrill Lynch. "Bank of England may have to maintain a low interest rate policy as long as possible in order imbangi fiscal tightening."

Nevertheless, the weakening of sterling may be limited as the dollar weakened sentiment after the outbreak of bad publicity the U.S. non-farm payroll. "$ 1.63 will be strong support," said Alejandro Zambrano, strategic interviewed by Reuters. "Sterling may reach $ 1.6350 in the near future, but for sterling stay above $ 1.6285 then there is an opportunity to test the highest price of $ 1.6547 May 31."

Crude Oil Continues Rise, Await Jobs Data

Friday, June 3, 2011

U.S. crude oil contract to continue strengthening on Friday, buoyed by weak U.S. dollar as markets await the U.S. NFP data release today.

The market still sees so far limited the pressure drops related to the news that OPEC is considering to raise the level of output of about 1.5 million barrels per day, ahead of OPEC meeting in Vienna on 8 June. One delegation said that the increase of 1 million barrels per day would probably occur.

U.S. Crude oil for July delivery rose 35 cents at $ 100.75 per barrel level, after rising 11 cents in the last level of $ 100.40 a day earlier.

News and Reviews Economic Zone of Asia (Hong Kong)

HSBC Hong Kong PMI down to 52.2 in May

Friday, June 3, 2011

HSBC Hong Kong Purchasing Managers Index fell to a 52.2 in May from 52.9 in April due to higher input costs, HSBC Holdings PLC said Friday.

Readings above 50 indicate expansion in manufacturing activity, while readings below 50 indicate contraction.

HSBC Hong Kong PMI comes from the index that measures changes in output, new orders, employment, supplier delivery times and stocks of goods purchased.

HSBC is usually a problem index, based on surveys of more than 300 companies in the city, in the first three days of work each month for the previous month's data.