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Greek Economy News and Reviews

Greece Borrowing Costs Increasing

Thursday, April 21, 2011

Greek government bond yield re-print record from Athens expectations will not be able to avoid debt restructuring. "The issue of restructuring has boosted borrowing costs of Greece," said Luca Cazzulani, strategic UniCredit. "The idea obviously intimidating restructuring; This is why bond investors try to stay away from Greece."

Greek government bond yield the 10-year and 2 years of high-level touch respectively 14.92% and 22.41%. Borrowing costs continue to rise even though Athens has been affirmed not have a plan for restructuring the debt.

Meanwhile, the Financial Times writes Chancellor Angela Merkel does not have a majority in the governing coalition to support the bail-out with current requirements. The data also show the decline in German business confidence for April. However, the euro is still strong in the London session as sentiment continued weakening U.S. dollar.

Crude oil surge as Related to Improved Equity Supports Economic Optimism

Thursday, April 21, 2011

Crude oil soared the highest in a month related to the increase of shares increased optimism of economic recovery and the dollar fell, strengthen investor demand for commodities.

Oil rose 2.9 percent as the Dow Jones Industrial Average rose to its highest level since June 2008 after selling the company from Intel Corp., Yahoo Inc. beat projections. Fall of U.S. currency makes gold and silver through record highs with the highest 31tahun. Crude futures extend rise after the Energy Department reported an unexpected drop in crude supplies.

Crude oil for June delivery rose $ 3.17 to settle at $ 111.45 per barrel on the New York Mercantile Exchange. This is the biggest increase since March 17. The price rose to 34 percent from a year ago.

Brent crude for June rose $ 2.50, or 2.1 percent, to $ 123.83 a barrel on the ICE Futures Europe exchange based in London.

Crude oil supplies fell 2.32 million barrels to 357 million last week, the first decline since February, the Department of Energy said today in a weekly report. Inventories are expected to rise by 1.3 million barrels, according to the median estimate of 13 analysts in a Bloomberg News survey.

Gold roared to all-time high for the fifth straight session

Thursday, April 21, 2011

Bullion pushing for a lifetime high for the fifth consecutive session on Thursday on the dollar sharply lower, while the lingering tensions in the Arab world, concerns about the crisis, the eurozone and the U.S. fiscal health of providing additional support.

Strengthening of gold for a decade could continue in the next four years, although at a slow movement, with positive inflation risk partially cooled by a shift towards a more normal economic conditions, analysts surveyed by Reuters said.

Silver rose to highest in more than three decades because it follows the rally in gold, which is also driven by the triple threat rating downgrade to the United States'-A credit. Gold-silver ratio - the number of ounces of silver needed to buy one ounce of gold - is at its lowest point since 1983.

<XAU=> Spot gold rose to a record high $ 1,508.50 per ounce and was at $ 1,506.70 per ounce by 0607 GMT, up $ 8.55 per ounce. U.S. gold futures <GCcv1> also achieve a lifetime high at $ 1,509.5 an ounce.

"The United States effectively loses triple-A rating in the eyes of investors who really matter some time ago, back when gold broke $ 1,000 an ounce," said commodities analyst at Fat Prophets David Lennox.

"We do not think America rating is considered will increase in the near future and this is the driving force behind our expectations of gold continued pricing power our next target for gold is $ 1,590 per ounce.

Fly Gold Above $ 1,500 To Penetrate New Records Related Weakening Dollar

Thursday, 21 April 2011

Gold prices rise through the record for the ninth time in this month due to weaker dollar encouraged investment demand for precious metals as an alternative asset. Silver rose $ 45 per ounce for the first time since 1980.

Gold reached $ 1,506.50 per ounce in New York as the dollar slid as much as 1 percent against six major currencies to be traded at its lowest for 16 months. Gold has risen 32 percent in the past year as the dollar fell 8.2 percent. Earlier this week, Standard & Poor's revised the outlook for long-term U.S. debt to negative from stable.

"For the dollar, S & P statement like a severe blow when she was falling like today," said Matt Zeman, a senior market analyst at Kingsview Financial in Chicago. "The dollar lost its status as king of the peak, and gold has taken place."

Gold futures for June delivery rose $ 3.80, or 0.3 percent, to settle at $ 1,498.90 at 1:37 hours on the Comex in New York. The most active contract had hit a record for four consecutive days.

Gold for delivery in London rose as much as 0.6 percent, reaching a record $ 1,506.03 an ounce.

News and Reviews Economic Zone of Asia (China)

China Stock Market Up; 3050 Shanghai Resistance

Thursday, April 21, 2011

China stock market has increased in the first session with steel producers and brokers become leaders rise, analysts said. The Shanghai Composite rose 0.7% at 3027.64, and analysts estimate the level of resistance will be at 3050 levels.

"Turnover in the market may not be enough to push the index sharply higher as investors remain cautious amid concerns over inflation", said Chen Shaodan, an analyst with China Development Bank Securities.

Steel producers rose amid hopes for stronger demand in the second quarter; Wuhan Iron & Steel rose by 2.7% at the level of CNY4.96 and Baoshan Iron & Steel rose by 1.7% at the level of CNY7.39.

Broker has increased on bargain hunting with Citic Securities rose by 2.6% at the level of CNY14.55 while GF Securities, increased by 3.9% at the level of CNY39.47.

Shenzhen Composite rose by 0.6% at 1281.83 level.

Japan Economy News and Reviews

Yosano: Should Tax Help Rebuilding

Thursday, April 21, 2011

Minister of Finance and Economy of Japan, Kaoru Yosano, said that taxes should be part of the reconstruction funding by the earthquake that hit, as the support that comes from a public poll to raise taxes to pay for reconstruction.

"Of course, our loan was supposed to be supported by taxes", said Yosano, 72, in an interview in Tokyo yesterday. While the sales tax increase "is a possibility that can be explained to the public, the government has not take any action related to the discussion".

Government officials tried to solve these problems following the earthquake and tsunami that hit causes obstacles debt approaching 200% of GDP. 69% of people surveyed said they would support a tax increase to fund the reconstruction, according to a surveu newspaper, Nikkei, which was released this week.

News and Reviews European Economic Zone (Germany)

German Ifo Business Confidence Falls in April

Thursday, 21 April 2011

German business confidence fell in April for a second consecutive month due to deteriorating business outlook, the Munich-based research institute Ifo said Thursday.

Ifo business climate index fell to 110.4 in April from 111.1 in March, below the consensus estimate by analysts surveyed 110.5 in advance by Dow Jones Newswires.

Previous step to a record high 111.3 in February following the increase in nine months in a row.

Assessment of respondents to the current conditions index is rising to the level of 116.3 from 115.8 in March, but the subindex reflects their expectations for the next six months fell to 104.7 from 106.5.

"Although the major risk at the international level, the situation in German companies is still very good," said Ifo president Hans-Werner Sinn.

Reading is weaker in April "is solely because the company is less positive expectations for future prospects of their business," while "the current business situation has improved again," said Sinn.

Savings following Ifo survey on Tuesday in a monthly survey of purchasing managers of Germany, and the second consecutive decline in the closely watched ZEW economic index earlier this month.

News and Reviews European Economic Zone (UK)

Retail Sales Increase in March British Foreign Estimates

Thursday, 21 April 2011

UK Retail Sales, outside estimates, an increase of 0.2 percent in March. Previous Economists anticipate the data will show a decline of about 0.5 percent following a 0.5 percent decline in February.

Similarly, in calculating annual basis, retail sales rose 0.9 percent reported in March, higher than expectations and previous month's data rate (0.8 percent).

ONS released data that illustrates that rising commodity prices and inflation well above the central bank's target is not or has not been a negative impact on consumer spending.

Without counting sales in the category of fuel, reported Retail Sales rose 0.2 percent m / m and 0.9 percent y / y.

News and Reviews Economic Zone of Asia (Japan)

Tokyo Stock End Higher on Earnings Intel; Tokyo Electron +4.1%

Wednesday, April 20, 2011

Tokyo stock market rose sharply on Wednesday as investors welcomed Intel's bullish earnings report and a weaker yen, which helps chip-related shares such as Tokyo Electron and Advantest are widely outperformed the index.

The Nikkei Stock Average rose 165.79 points, or 1.8%, to 9606.82, erasing Tuesday's 1.2% decline. The broader Topix index of all Tokyo Stock Exchange First Section issues rose 9.61 points, or 1.2% to 837.17 with 30 of 33 subindex ended in positive territory.

But trading volume was relatively light, only at 1.76 billion shares.

The market opened stronger after U.S. chip giant Intel reported record quarterly result for the second quarter and provide guidance better than expected. Investors were more intense after Intel President and Chief Executive Paul Otellini said the company anticipates no interruption to the supply line that moves ahead of a major earthquake that hit Japan on March 11.

Despite the strong rise, most market analysts said it was too early to anticipate a more active buying in Japanese stocks, citing the warm trade volume.

"We see the market stronger than expected today, but whether this will continue is unclear," said Yutaka Yoshii, general manager at Mito Securities, referring to the uncertain earnings prospects for many Japanese companies.

Tokyo Electron closed up 4.1% at Y4, 475 and Advantest rose 3.3% at Y1, 452. Among Intel's suppliers, Ibiden rose 6.0% to Y2, 562 while Shinko Electric Industries also jumped 4.6% to Y823.

"If Intel can meet its bullish outlook, there will be another round of buying in stocks, but investors are likely to measure for one or two months in advance whether Intel's target to be achieved," said Takuya Yamada, senior portfolio manager at ITC Investment Partners.

Toshiba rose 3.7% to Y416 after The Nikkan Kogyo Shimbun reported Wednesday that Apple has effectively took Japan's Toshiba as the sole supplier of liquid crystal panels for the iPhone, cancel the original plan to invest in new LCD production facility at Toshiba and Sharp. Sharp is still closed up 0.7% at Y743.

In a statement, Sharp said the story was "contrary to the facts" and urged to withdraw the article and an apology. Toshiba LCD display unit declined comment.

Among other individual stocks in focus, TDK closed down 2.3% to Y3, 890, extending Tuesday's losses of 7.5%, amid concerns about the negative impact on earnings after Seagate Technology PLC agreed to buy a hard disk Samsung Electronics' business drive $ 1.38 billion cash and stock. TDK has been supplying magnetic heads for Samsung. MUFG Morgan Stanley Securities also cut its price on the TDK to Y5, 000 from Y6, 700, while maintaining its Overweight rating.

Shiseido fell 0.7% to Y1, 352 after the cosmetics company lowered sales and profit outlook for the fiscal year ended in March, blaming a weaker consumer sentiment than expected in the country and the impact of natural disasters Japan recently.

Nikkei 225 June futures closed up 170 points, or 1.8%, in 9610 on the Osaka Securities Exchange.

News and Reviews European Economic Zone (France)

France Growth Strongest To More Than One Decade

Tuesday, April 19, 2011

French private sector growth accelerated to the fastest rate for more than a decade in April, but production costs also rose at a sharp pace on record, preliminary results from a monthly survey by the financial company information Markit showed on Tuesday.

Flash read French Composite Output Index, a measure of activity based on a partial survey of manufacturing and service companies, rose to 62.4 in April from 59.1 in March, the highest reading since September 2000. A reading above the neutral level of 50 indicate expansion of activity.

Markit said the service activity index rose to 63.4 from 60.4 in March, also the highest reading since September 2000. Manufacturing Purchasing Managers Index rose to four-month high 56.9 in April from 55.4 the previous month.

Economists expect the reading of the service sector and manufacturing PMI 60.0 55.0, according to Dow Jones Newswires survey last week.

News and Reviews European Economic Zone (UK)

Inflation Exceeds Estimates-BOE Report

Wednesday, April 20, 2011 16:07

The inflation rate in the UK likely exceed forecasts the Bank of England (BOE) and the latest is a significant risk could soon rise above 5%, the report of the bank's April policy meeting showed on Wednesday (20 / 4).

Monetary Policy Committee setting interest rates The BOE voted to maintain the bank's benchmark interest rate at a record low at 0.5% in April and share their assets purchased with stimulus programs have not changed at GBP200 billion.

The report shows nine members voted for the same in March. Six policy makers, including Governor Mervyn King, voted for permanent benchmark interest rate on hold and maintain the inventory asset purchases.

Andrew Sentance, Martin Weale and Dale Spencer voted for the increase in benchmark interest rates. Sentance to repeat his call for an increase in 0.5 percentage points, while Weale and Dale voted to increase quarter points.

Adam Posen once again advocated the expansion of GBP50 billion of asset purchase program "quantitative easing" of the bank.

Consumer price inflation fell to 4.0% in March, from 4.4% in February, but although falling, is still a medium-term target of double the BOE rate at 2%.

The report showed rising prices for energy, commodities and imported goods led the committee to believe that inflation in the near future will exceed the bank's forecasts as contained in the February inflation report.

The report adds that "there remains a significant risk that inflation will exceed 5% in the near future."

However, the April report showed the committee assessing the risks to economic recovery and Britain remains at the reference interest rate increases that may damage consumer optimism and spending limits.

The Committee is assessing the "hold no benefit in wait and see how many diverse factors prior to the assessment of monetary policy stance."

Japan Nuclear Crisis Trigger World Oil Price Rise

Wednesday, April 20, 2011

World oil prices are expected to experience a significant increase in the coming years.

Thus disclosed Lecturer Petroleum Engineering ITB Rubi Rubiandhini in discussions 'Stimulating Lifiting Management Through Old Wells' in Jakarta, Wednesday (20 / 4). That's because the energy needs of oil and gas (oil) will grow large, post-explosion of a nuclear power plant (NPP) Fukusima, Japan some time ago.

Rubi estimates that oil prices will range above U.S. $ 100 per barrel. Although, so the increase could also be prevented with one condition state of Saudi Arabia would increase oil and gas production. In addition, the energy crisis in Japan is also likely to affect the import of Indonesian oil.

Currently, 51% of Indonesia's oil is coming from middle east countries. With the energy crisis in Japan will affect the rise in world oil. "If the Arab oil imports are diverted to Japan and Saudi Arabia do not want to add poduksinnya then world oil prices will automatically increase. Yes it is above U.S. $ 100 per barrel, "said Rubi.

For oil production of Saudi Arabia today is 9 million barrels per day. However, Arab governments promised to increase production to 12 million barrels per day.

Copper Rise; Possible Stay In Range $ 9200 - $ 9800

Wednesday, April 20, 2011

LME 3-month copper at $ 9,446 per ton, up $ 106 with 2054 lots. Red metal is being supported by the general risk appetite returning after a marginal improvement in U.S. housing data overnight, and the partial suspension of operations at the sub-surface (FCX) Freeport McMoran Grasberg mine in Indonesia after the accident, said a trader in Singapore, according to a European bank.

Most of the Grasberg output still comes from surface operations so that the impact of market suspension will most likely be limited. "Copper is made to run but the rest of the complex has become a bit sluggish and the volume has not been great so I'm not sure this is a significant step," he said.

Traders copper tips to keep a $ 9200 - $ 9800 range which has been traded since early March closing. Aluminium LME 3-month at $ 2,728 / ton, up $ 14 with 664 lots, while nickel was at $ 25.880 / ton, up $ 585 with 205 lots.

Korean Economy News and Reviews

Kospi ended 0.7% Minus

Tuesday, April 19, 2011

Seoul stock markets weakened on Tuesday, weighed down by weakness among stocks shipbuilder Hyundai Heavy Industries after news that the POSCO steel prices rose but LG Display shares rally support index. POSCO steel producers to raise prices at least 16-18%, according to the nearest source.

Trimming the outlook for U.S. government debt burden on global sentiment, foreign investors continued to sell local stocks to-day to six. Kyobo Securities analyst, Kim Dong-ha predict the index will experience a slight correction until there is a new clue. Shares of auto and chemical weakened by profit-taking after the index had rallied by Hyundai Motor fell 0.2% to KRW225, 500 and SK Innovation slumped 2.4% to KRW219, 500. The financial sector is still weak due to the persistence of concerns about exposure of local banks, Woori Finance Holdings fell 0.7% to KRW13, 600 and Hana Financial Group fell 1.4% to KRW44, 850. LG Chem soared 1.4% rise KRW520, 000 due to earnings expectations ahead of the announcement of earnings results Q 1 today.

The KOSPI index ended down 0.7% at 281.20.

Gold prices weakened by the Technical Amendments After the Print Record Row 2 Days

Tuesday, April 19, 2011

In electronic trading in Asia today looks gold price has decreased significantly (4.19). Gold prices weakened after a hit record highs in trading on the New York Mercantile Exchange last night. Gold prices failed to test the psychological level of 1500 dollars so that trigger profit taking.

During the two days before the price of gold has scored a record high and almost penetrate the high level of dollars per troy ounce in 1500. The increase in gold prices was driven by concerns that the global economy will return hit trouble after the S & P rating service lowered the long-term outlook for U.S. debt. Meanwhile Europe's concerns about the debt crisis also triggered the purchase of gold on a large scale.

However, today experiencing a correction in gold prices seem quite reasonable. Last night the technical signals have shown that there is oversold which could potentially trigger a short-term decline.

Spot gold price appears to decline and is currently trading in the position of 1489.40 dollars per troy ounce. The position of this spot gold price has decreased compared with the close of trading early this morning on the level of 1493.60 dollars per troy ounce.

According to the analysis of the Division of Research in Vibiz Vibiz Consulting, gold price movement is expected to decline while the correction after a record. The price seemed reasonable for the temporary decrease after reaching a record level. It is estimated that gold prices will experience movement in the range 1450 - 1500 dollars per troy ounce.

European Sovereign Debt Problems Limiting Strengthening EUR / USD

Tuesday, April 19, 2011

The currency of the worst performers the last two days are the Euro, which has weakened significantly, although the ECB officials are continuing talks on the importance of further monetary tightening.

Yet since the beginning of this year, investors willing to take risks with the last in a position to buy this currency accumulation ignore signal problem, unfortunately with the problem in smaller EU member states to meet its debt bonds has dragged the euro currency despite the overall problem is not unduly means for the euro zone.

New Concerns also emerged in Portugal, similar to the deficit problem in Greece, before investor confidence can be restored easily if there is recent news about the bailout being poured because market participants assume EFSF mechanism will provide financial support if needed. But the issue of restructuring has changed the sentiment is negative because it is feared could merusah EU financial system, particularly in the European banking sector balance sheet, as in France, which holds many securities Greece.

Greece step domino effect can also be spread to Ireland and perhaps Portugal so as to alter the stability of the European Union. From the economic side, the euro zone PMI still confirm the monetary tightening and the euro managed to sustain at least for the short term.

Based on technical studies, there has been penetration is consistently above the bearish channel on H1 chart, indicating a bullish bias to target the 1.4365 area. Translucent over the area would trigger further strengthening the area 1.4490 - 1.4520. However, excessive reinforcement to the area to be selling opportunity for investors who still believe in the euro zone debt problems and the potential increase in ECB interest rates could damage the economy further.

On the bottom side, the nearest support level in the area of ​​1.4245 - 1.4265, falling below the area to change into a bearish intraday bias to bring the price to an area of ​​key support at 1.4155 before 1.4020 target.

UK Economy News and Reviews

UK Fiscal Policy crutch Sterling

Tuesday, April 19, 2011

Sterling strengthened, supported by solid Cameron government's determination to cut the UK budget deficit. Fiscal policies pursued by Prime Minister Cameron managed to strut in sterling as investors worried about the possibility of Greece's debt restructuring and the S & P revised outlook for the U.S. credit rating to negative.

"The position of Britain is now quite good when viewed from the fiscal side and compared with European and U.S. conditions," said Adrian Schmidt, a strategic Lloyds Banking Group. "The market does not worry about the fiscal situation as the British government still run the policy of trimming the deficit and this helps the pounds." Traders are also quite optimistic sterling to strengthen further amid thin trading volumes ahead of the Easter holidays.

News and Reviews European Economic Zone (France)

France Growth Strongest To More Than One Decade

Tuesday, April 19, 2011

French private sector growth accelerated to the fastest rate for more than a decade in April, but production costs also rose at a sharp pace on record, preliminary results from a monthly survey by the financial company information Markit showed on Tuesday.

Flash read French Composite Output Index, a measure of activity based on a partial survey of manufacturing and service companies, rose to 62.4 in April from 59.1 in March, the highest reading since September 2000. A reading above the neutral level of 50 indicate expansion of activity.

Markit said the service activity index rose to 63.4 from 60.4 in March, also the highest reading since September 2000. Manufacturing Purchasing Managers Index rose to four-month high 56.9 in April from 55.4 the previous month.

Economists expect the reading of the service sector and manufacturing PMI 60.0 55.0, according to Dow Jones Newswires survey last week.

Under Saudi Arabia's Oil Supply Needs

Monday, April 18, 2011

Country's largest oil exporter Saudi Arabia expressed readiness to supply oil-demand customers. But, who would have thought if this country's oil production actually fell last month.

"Saudi Arabia will supply whatever the customer asked for," said Minister Perminyak Saudi Arabia Ali al-Naimi interrupted Asian energy ministers meeting as reported by AFP.

"The market is over-supply now. While the demand in Asia is very strong," he said.

But, other than that he admits that these royal oil production fell to 8.29 million barrels per day (bpd) in March from the previous 9.1 million bpd the previous month.

On different occasions, the Head of the International Energy Agency (IEA), Nobua Tanaka, said the current oil price is very high. And he said that if consumers are worried that this could damage economic growth and demand for crude oil.

"Of course the oil price is currently very high. We're worried it could have a negative impact on economic growth," said Tanaka.

"High oil prices could trigger tekananj to reduce the rate of growth in demand for oil production," said Tanaka.

News and Reviews European Economic Zone

ECB officials Sinyalkan Continued Increase in Interest Rates

Monday, April 18, 2011

Officials from the ECB signaled that they will maintain the tightening monetary policy this year as the strengthening of their economies and inflation in phase berakselerasinya fastest pace since 2008.

Investors' expectations for higher interest rates by 50 bps in 2011 is still strong, says Ewald Nowotny told Bloomberg News in Washington on April 26. Luc Coene of Belgium said in an interview yesterday that his condition is very possible.

The advice said that the ECB will raise rates again soon echoed by other officials at the weekly meeting of the IMF, even after Trichet said that on April 7, will not necessarily be a starting point for another round of interest rate hikes.

News and Reviews European Economic Zone

Euro Debt Concerns Related vanish, Targets Next to 1.4280?

Monday, April 18, 2011

The euro gave up after a new strain of debt EU members this Monday, had dropped below 1:43 before finally managed to bounce light into the 1.4318 level so far.

Greece reports that its debt could be trying mestrukturisasi trigger selling pressure in the single currency, but eventually died down after no official confirmation from the government's default on bond debt.

Greece had received bailouts from the EU and the IMF in May but until now still in progress to reduce its budget deficit, as a result of the Euro after reaching record highs 1:45 several times, the momentum began to fade and the market makers so see any reason to do a sell-in levels high prices.

Finnish Parliament increasingly muddy atmosphere with reduced government support of Finland to approve the bailout package to Portugal, where approval is required from all EU member before being processed.

Based on technical studies, negative sentiment due to debt concerns has brought the pair EUR / USD is translucent under formation Triangle on H1 chart, so that change becomes bearish intraday bias at least test the key 1.4280 support area at this phase. On the top, nearest resistance is at 1.4410 area, see-through over the area to end the correction phase of bearish and bullish scenarios continue to target the area 1.4470 - 1.4520.

China Economy News and Reviews

China Back Raises Bank Reserve Requirement

Monday, April 18, 2011

China raised its bank reserve requirements this year for the fourth time on Sunday. This measure is intended to address the excessive liquidity and high inflation in the country with the world's second largest economy.

The increase in bank reserve requirements after China raised interest rates on 5 April as China's efforts against inflation since October and emphasized the government's determination to maintain economic stability. "This move is a tightening action by central banks," according to Lin Song li, Guosen Securities economist in Beijing. "The first quarter GDP showed a good economy as a whole, but there is still room for tightening." The central bank has raised rates four times since October, which aims to control the prices of certain commodities and hold property speculation.

Increase of 50 basis points, effective from 21 April, an increase in capital reserve ratio for China's largest banks at a record 20.5%. About 350 billion yuan ($ 53.6 billion) that can be lent to other banks.

Japan Economy News and Reviews

The Nikkei ended 0.4% Minus

Monday, April 18, 2011

Trading volume in Tokyo stock touched its lowest level in 2011 related to market players who prefer to watch ahead of corporate earnings results next week when the key exporters such as Canon Inc and Panasonic Corp. reported its earnings.

But analysts warned of the risk of weakening the index in the next few weeks related to the first earnings report after the earthquake and tsunami struck the Japanese hit the market and the policy of quantitative easing by the U.S. in not June. "All of view of the Japanese stock recovery to long-term and low valuations after a disaster,"said Hideo Arimura, senior fund manager Mizuho Asset Management. "That's why the market in good condition despite the many uncertainties and the index is unlikely to decline sharply," he said.

The Nikkei closed down 0.4% in 9550, led by telecom stocks weakened after Goldman Sachs cut its rating of Softbank Corp.

U.S. crude ended higher, lifted by weak dollar

Friday, 15 April 2011

U.S. crude futures ended higher on Thursday on the lift from a weaker dollar that helped reverse earlier losses triggered by the raw concerns that high prices will erode demand.

Dollar gave up early strength after a government report showed initial jobless claims rose last week.

U.S. crude futures have bounced, support is found at the top level of $ 105 and crude oil options expire on Thursday.

Dollar falls in choppy trade, weighed by weak jobless claims data and reported to the central bank selling in the middle of the background low U.S. interest rates are not expected to rise in the near future.

Brent crude oil futures weakened slightly on Thursday on the day of expiry for the contract in May next.

On the New York Mercantile Exchange, crude <CLK1> May rose $ 1, or 0.93 percent, to settle at $ 108.11 per barrel, trading from $ 105.77 to $ 108.55.

Gold rose more than 1%, silver surged to 31-year high

Friday, 15 April 2011

Gold rose more than 1 percent to near record highs and silver surged on Thursday as the dollar weakness, inflation fears and European debt crisis pushed bullion to the largest one-day gain in about seven weeks.

Silver futures soared to their highest since 1980, an increase of more than 4 percent for their biggest one-day gain since November, as strong investment and speculative buying sent gold / silver for a low ratio.

Gold received support from inflation worries triggered by the rally in crude oil and the data showed core producer prices rising U.S. in March, and as jobless claims higher than expected knock on the dollar.

"The combination of higher oil prices, weakening dollar and the rise of Greek discussion of sovereign risk issues have pushed the gold market. This is very impressive because we ran into selling above the market yesterday," said James Steel, chief commodities analyst at HSBC.

<XAU=> Spot gold rose 1.4 percent to $ 1,474.30 per ounce by 4:02 am EDT (2002 GMT), within striking distance of a record $ 1,476.21 set on Monday. U.S. gold futures for June delivery settled <GCM1> up to $ 16.80 at $ 1,472.40 an ounce.