mynameisandhy

Oil Price Increase Towards Weekly to 9

Friday, May 15, 2015

Oil prices were little changed on Friday but was on track to end the week with a little higher, supported by a weaker dollar and forecasts for low growth in the US output.

US crude oil prices are on track to rise in the ninth week, which will be the rally's longest streak since 1983. US crude inventories have dropped from a record high, while the government has cut its forecast for output growth in 2015 and 2016.

The price of West Texas Intermediate crude oil in June fell by 36 cents at $ 59.53 a barrel at 16:44 pm. Meanwhile Brent oil in July fell 22 cents at $ 66.48 per barrel.

News and Economic Review Zone Asia (South Korea)

Bank of Korea Hold Interest Rates 1.75%

Friday, May 15, 2015

As expected the Bank of Korea kept interest rates to 1.75% at the monetary policy meeting today, said policy makers need to look further impact of lower interest rates two months earlier. South Korean domestic demand began to show an increase, but exports are still declining, and increased household debt.

Data from the BOK showed South Korea's gross domestic product rose 0.8% in the first quarter from a year earlier, while consumer sentiment last month rose to its highest level since October. BOK governor said the decline in exports to the attention of the central bank, though he will not lower interest rates simply to encourage the export level.

South Korean Finance Minister Choi Kyung Hwan, said last week the South Korean economy showed a gradual recovery in the first quarter, though not so strong. He added that the weakening of the Japanese yen exchange rate adversely affects the export of South Korea. South Korean export products become less competitive against Japanese products if the yen weakens

News and Review of European Economic Zone

Draghi: QE Will Continue

Friday, May 15, 2015

European Central Bank will complete the program pencetakkan money to buy his own government bonds in full, according to its President on Thursday, adding that he saw little indication of the financial sector imbalances. Mario Draghi said that, while there has been a substantial impact on the ECB's policy on asset prices and optimism the economy, the most important thing today is to see the impact on the level of investment, consumption, and inflation.

According to him, to get the impact, the ECB will apply in full accordance purchase program was announced and up to the constant changes on the path of inflation. Responding to critics who say that the program pencetakkan money or quantitative easing (QE) can trigger a property price bubble, Draghi said that currently there is little indication that the imbalance of the financial sector in general.

News and Review of European Economic Zone (Greece)

Tried to Persuade Germany, Greece Offer Privatization

Friday, May 15, 2015

Greece on Thursday to offer concessions on the part of international lenders and brought the sale of its largest port, Piraeus. Greece has asked three companies to bid for a majority stake in the port, according to one of the officials told Reuters privatization, opening the sale of one of the great public asset as the EU and the IMF called on the Athens to undertake economic reforms. Despite succumbing step, the Bundesbank does not show the signal will soften stance against Greece.

Bundesbank Governor Jens Weidmann criticized the weekly addition of emergency loans to Greek banks, said in an interview with a newspaper in Germany that it is against to break the taboo of the government financing system by the European Central BAKN. Banks in Greece have received funding emergency liquidity assistance from the Greek central bank, funding received by the guarantee.

News and Review of European Economic Zone

Draghi: ECB Will Maintain Stimulus "During Required"

Friday, May 15, 2015

European Central Bank President Mario Draghi on Thursday said that the large stimulus effort will still be in place "as long as necessary" until officials are confident that they will achieve their inflation objective targets sustainably, and reduce anxiety that bank policy would widen the gap between the rich and the poor.

Speech Draghi, delivered at the International Monetary Fund, oppose some concerns in financial markets that a series of economic data, the results are optimistic lately in Europe will encourage the ECB to withdraw support to the bond-buying program by 60 billion euros ($ 67.63 billion) per month before the targeted end September 2016.

Draghi said that at the moment we are already seeing the effects of our measures on asset prices and confidence in the economy, which in turn is important is that we see a similar effect on investment, consumption and inflation. The ECB targets an annual inflation close to 2%. Consumer prices are flat in the Euro zone in the last month on an annual basis, and has been in the negative area for several months before that.

Draghi said that we would apply our purchase full program as announced and in any case, until we see the ongoing adjustment in the path of inflation

Global supplies Constant, Oil Weakens

Thursday, May 14, 2015

Crude oil ended lower anxiety accompanied despite the high level of global inventories of crude oil production in the US fell for two consecutive weeks based on official data from US government agencies, the Energy Information Administration (EIA). A decline of 2.2 million barrels last week to total less than 485 million barrels are not able to satisfy the expectations of investors will be the rapid decline in oil inventories in order to re-balance the global oil trade.

In addition, regulatory agencies world's largest energy industry, the International Energy Agency, said the fight between the US and OPEC in gaining market share is still ongoing. This indicates flooding global supplies have not been shifted to the slowdown in the US shale oil production failed to offset the increase in OPEC production. In the IEA monthly report released Wednesday, the IEA report global oil supply constant compared to last month which amounted to 95.7 million barrels per day.

News and Economic Review Zone Asia (China)

Moody's: There is a risk of Pruning Flowers Behind China

Thursday, May 14, 2015

Moody's Investors Service warned of the negative effects of monetary easing undertaken by the People's Bank of China's (PBOC) recently. Cut interest rates 3 times in the last six months is bad news for commercial banks there.

Lower interest rates made by the Central Bank of China will hurt the banks because it makes the difference between lending rates and deposit rates widened. "We expect the difference between credit and deposit interest rates will be narrowed from 2.10% to 1.95%," said Moody's. Estimated it refers to the assumption that the deposit rate will rise to 140% of the benchmark rate. The difference in the interest, will reduce the profitability of Chinese commercial banks.

PBOC did respond quickly signs of economic decline for several months terakhi. In addition to lower interest rates on deposits and loans by 25 basis points, the central bank also loosened restrictions on deposits of 130% to 150% of the benchmark rate. Another goal is to improve the competitiveness of banking products in the midst of the many alternative investments, stimulate interest on deposits and cash balances of banks. However, Moody's claimed this policy would hurt banks small and medium scale because they are more sensitive to changes in interest spreads on deposits.

News and Review of European Economic Zone

Thanks to France and Italy, Euro Zone GDP accelerates

Thursday, May 14, 2015

Back French and Italian economic expansion has helped push the euro zone GDP in the first three months of 2015, which recorded the fastest growth rate in nearly two years. For the first time since the first half of 2010, all four major economies in the Euro zone together recorded growth. And for the first time since the first quarter of 2011, the currency bloc's economy managed to grow faster than the US and UK

The combination of faster growth and more even potential to make 2015 a decisive year for the euro zone continues to recover from the debt crisis. It was also supported by several factors such as the new stimulus from the European central Bank, the depreciation of the Euro, the fall in world oil prices and signs of an upswing in bank credit after years of decline.

Eurostat report Wednesday showed GDP of 19 countries using the euro currency increased by 0.4% in the first quarter of this year, compared to 0.3% in the last 3 months of 2014. This figure is slightly lower than the estimated 0.5% increase. For an annual basis, the Euro zone economy grew by 1.6% higher.

But policymakers are still concerned about the possibility of recovery open would not be sustainable, given the level of unemployment is still high, the burden of government debt and large companies, the problem of the banking system and weak investment spending

News and Review of European Economic Zone (UK)

Bank of England Cuts UK Growth Estimates

Thursday, May 14, 2015

The Bank of England cut its growth forecast for the UK economy on Wednesday, but sinyalkan that they are still on track to raise interest rates from a record low in the middle of next year.

BOE said in its quarterly inflation report that they expect the UK economy will expand by 2.5% in 2015 and 2.6% in 2016, compared with their forecast in February for growth of 2.9% this year and next year.

The central bank said that the weakening outlook reflects several factors, including the strengthening of the pound lately, merosotnyanya housing market and low productivity.

They also add that the risk of ending chaos in Greece's efforts to achieve the latest agreement with international creditors on a pay billions of euros in financial aid was also given further negative sentiment on the British economy.

News and Review of European Economic Zone (Greece)

Greek Finance Minister calls for the ECB to Delay Debt Payment Schedule

Thursday, May 14, 2015

Greece's debt payments to the European Central Bank should be encouraged back to the "longer time", said the Greek finance minister, reported by Reuters on Thursday. Speaking at a press conference in Athens on Thursday, Yanis Varoufakis reportedly said that Greece's debt repayment schedule is not feasible, it was noted that during the months of July and August they will be forced to borrow 6.7 billion euros to repay bonds purchased by the ECB under the Securities Market program , On Tuesday, Athens completed the payment of a loan of 750 million euros ($ 836.7 million) to the International Monetary Fund, but also forced to pay for emergency funds provided by the central banks of various nations.

OPEC Global Oil Demand Rises Prediction

Wednesday, May 13, 2015

The level of global demand for oil will grow higher than previously expected, according to the latest estimates from the Organization of the Petroleum Exporting Countries. In a monthly report released Tuesday, OPEC raised its forecast for 2015 global demand growth hers be 1:18 million barrels per day compared with last month's estimate of 1.17M barrels. OPEC According to analysts, the overall level of global daily demand will reach 92.50 million barrels this year.

OPEC has predicted growth in demand will grow rapidly in 2015 for several months, compared with an increase of 960 000 barrels per day in 2014. OPEC CE has said that about half of eskpektasi hike this year will come from the Chian and the Middle East. However, reports indicate that the expectation level for OECD demand will rise rapidly compared with the previous forecast partly because of the dominance of vehicles SUVs and pickup trucks in the region. European OECD also estimates the level of demand increased at the beginning of this year, according to OPEC, related contingent of better economic conditions.

News and Economic Review Zone Asia (China)

China's Industrial Output Grows 5.9% in April

Wednesday, May 13, 2015

Results of industrial production (industrial output) rose 5.9% in the month of April compared to the same period in 2014. The increase is larger than the incision last March that only 5.6%.

According to the National Bureau of Statistics, China's industrial production growth rate was below the estimated 6.0% expressed by 12 economists in a survey by The Wall Street Journal. Meanwhile, if compared on a monthly basis, industrial output in April grew 0.57% or two times better than the percentage increase in the period from March to February which is only 0.25%.

Fixed asset investment (fixed-asset investment) in non-urban regions increased 12.0% over the same period last year. Economists itself forecast a rise of 13.5% in the first four months of 2015. The retail sales figures grew 10.0% in April compared to last year or slower than the rate of increase in March, which amounted to 10.2% and by 10 economists forecast , 6%. Whereas when compared with March 2015, China's retail sales grew 0, or better than the revised March were 0.64%

News and Review of European Economic Zone (France)

Thin French Consumer Price Rise in April

Wednesday, May 13, 2015

French consumer prices rose in April from March, due to the seasonal increase in the level of prices in some sectors of services and manufactured goods, reported by the statistics bureau Insee on Wednesday.

French consumer price index rose by 0.1% in April from March, and rose 0.1% from a year ago.

HICP France, a harmonized measure of annual price used by the European Central Bank, also rose by 0.1 this year in April, compared with a flat reading in March. ECB's inflation target close to the level of 2%.

The French government has warned that inflation will run below expectations. Low inflation will hurt tax revenues, particularly sales taxes, for the government at a time when the French began to try to reduce the budget deficit.

French finance minister Michel Sapin on Wednesday said that he expected a budget deficit of 3.8% in 2015, largely helped by the French growth faster than forecasts made in the period of the first three months of this year.

Sapin praised the ECB program "very good" in the government bond purchases massively to help lift the euro zone economy.

News and Review of European Economic Zone (Italy)

In addition to French, Italian Economy also Gradually Restored

Wednesday, May 13, 2015

Just like the French, the Italian economy also grew in the first quarter of 2015. The figure is gross domestic product (GDP) increased 0.3% or above estimates of financial analysts in the market.

Italian economy was stagnant in the last 3 months in 2014 before turning positive in the first quarter. This good news could mark the success of the stimulus program of the European Central Bank (ECB) because some time ago French economic reports also released positive. Economists forecast economic growth of 0.5% Euro zone, or higher than the record of the previous quarter, 0.3%. Unfortunately, the decline in the economic performance of Germany the possibility of making the data real GDP will only able to reach 0.4%.

Overall, this is the first time since the beginning of the 2000s era big countries in the Euro zone economic growth simultaneously. For information, French economy also grew in the first quarter of 2015 with a percentage of 0.6% compared to the last quarter of last year, In addition to its stimulus policy of the European Central Bank (ECB), the economy slowly improves due to the decrease in world oil prices and the strengthening dollar. Euro exchange rates are low making exports perpetrators can reap greater profits than usual and state revenues go up

News and Review of European Economic Zone (Germany)

Various German Economic Data Released

Wednesday, May 13, 2015

Gross domestic product (GDP) in the first quarter Germany grew only 0.3% compared to the final quarter of 2014 or worse than the growth of the previous quarter, 0.7% and Wall Street Journal poll results by 0.5%. When compared with the same period last year, the economy grew 1.1%

But at the same time, growth in German inflation actually increased for the period of April. German consumer prices was down 0.1% compared to March 2015, but on an annual basis inflation rose 0.3%. Food prices rose 1.1% while energy products fell 5.9% compared to 2014.

The increase in inflation in April could be a good sign after the launch of the stimulus by the European Central Bank. The good news, the decrease rate of the German economy is able to be offset by a recovery in other major economies, France. Gross domestic product (GDP) in the country's second largest economy Euro zone increased by 0.6% compared to the last quarter of last year marked the strongest growth since the second quarter of 2013.

In addition to its stimulus policy of the European Central Bank (ECB), the sector of the French economy slowly improves due to the decrease in world oil prices and the strengthening dollar. Euro exchange rates are low making exports perpetrators can reap greater profits than usual and state revenues go up

Global oil inventories Flat Rate

Tuesday, May 12, 2015

Crude oil ended flat with investors evaluate the sustainability of the global inventories decline and rebound Dollar which restrict the movement of the crude oil market. Euphoria respond surprise drop in US crude inventories last week made investors worried about the continuation of decline in global oil inventories.

China, the world's second largest oil consumer, cut interest rates for the third time in six months to stimulate the economy. Despite these measures specifies the support for the oil market, some analysts doubt the sustainability of the crude oil market rally with consideration of China's economy is yet to show a recovery from stagnation during some periods.

Investors crude back forward the data weekly US oil inventory by the American Petroleum Institute on Tuesday and the official data from the US government (Energy Information Administration) on Wednesday. Last week, crude oil rally after for the first time in this year reported crude inventories fell well based on data from the API and EIA official data. However, profit-taking investors towards the end of last week distancing the investor from its highest level this year

News and Review of European Economic Zone

IMF Urges Some Europe To Hit Rate Debt

Tuesday, May 12, 2015

International Monetary Fund has urged a number of central European countries, east and southeast to adopt policies that boost domestic demand and reduce excessive private sector debt. Which is expected to be able to help them recover from the impact of the financial crisis in 2008.

"It will open the door to a better level of investment and a strong recovery. Macroeconomic policies that support is needed by the countries where the debt has weighed on demand," the IMF said in its latest report on the region.

Regions that are still faced with several challenges, such as investment and credit growth weak, fragile external environment, and the private sector balance sheet repair is not exhaustive, according to the IMF's deputy director for Europe, Jorg Decressin. Although significant efforts have been made to reduce the debt the private sector, only a small fraction of the region's countries that have managed to cut its debt to pre-crisis levels when measured against GDP and bring it in line with their economic fundamentals, he added.

Based on data recorded debt in 2013, Turkey, Russia and Ukraine at the top as the country with the level of private sector debt that is significantly higher than the strength of their economies. Serbia also assessed stand out for liquidity risk in the corporate sector. While debt-related risks in the corporate sector also remains high in Bulgaria, Croatia, Ukraine, Latvia and Slovenia, referring to the IMF report

News and Review of European Economic Zone (France)

Bank of France survey Seeing French GDP Up 0.3% in Q2

Tuesday, May 12, 2015

French economy is expected to grow by 0.3% in the second quarter, shown in the monthly business confidence survey from the Bank of France on Tuesday.

A survey conducted by the central bank predicted that the country with the second largest economy in the euro zone will grow by 0.3% in the second quarter compared with the first quarter as business sentiment rose in manufacturing, services and construction.

In April, the Bank of France slightly raising their estimates for economic growth in the first quarter, the French economy is expected to grow by 0.4% in the first quarter from the previous estimate of 0.3% growth.

Survey in April showed that business sentiment in the manufacturing sector rose to 98 from 97 in March, where a level of 100 is the average rate for the long term. In the services sector, sentiment rose to 95 from 94 and in the construction sector to 92 from 91 in the previous month.

News and Review of European Economic Zone (UK)

UK Industrial Output Up Into High Level 6 Month in March

Tuesday, May 12, 2015

UK industrial production rose to its highest level since September as oil and gas extraction jumped and manufacturing rose for a second month.

Production output rose by 0.5% in March from the previous month, reported by the Office fo National Statistics in London on Tuesday. Based on the Bloomberg survey, economists had predicted for no change. In the first quarter, industrial output was revised to an increase of 0.1% from a decline of 0.1%, although the ONS said that the impact on GDP would be "minimal."

The data came a day before the Bank of England Governor Mark Carney will publish its latest forecasts for growth and inflation. The current UK economic growth slowed to 0.3% in the first quarter, Markit Economics said that their industry survey showed an increase since then, led by the services sector.

Pound erase losses against the dollar after the data, and rose by 0.2% from yesterday at $ 1.5635 at 15:43 pm.

Meanwhile, in a separate report showed manufacturing rose by 0.4% in March from February, the ONS said, exceeded its estimate for growth of 0.3% in a Bloomberg survey

News and Economic Review Zone Asia (China)

Despite its Current Account Surplus, Posture Balance China Not Balanced

Tuesday, May 12, 2015

China is scored surplus in the current account (current account), but at the same time the capital and financial account had a deficit in the initial quarter of 2015. The government claimed to be more astute in the post-expenditure balance and boost investment in the coming quarters ,

China recorded a current account surplus of $ 78.9 billion and a deficit of $ 78.9 billion capital account. Components of the capital account deficit is the calculation of inward investment, both short and long term, to the Chinese economic system. This means that foreign investors' interest in investment tends to be weak in the beginning of the year

China itself has already introduced a new method of calculation of the balance sheet according to the standard of the International Monetary Fund (IMF). The difference between the old and the new calculation method lies in the components of reserve assets. If the previous method of these assets is calculated separately, then in existence the new standard is part of the financial accounts.

In its annual report released this week, China's State Administration of Foreign Exchange (SAFE) explained that the inflows from the outside into the country will be improved in 2015 so predictable capital accounts improved posture.

SAFE in March revised the capital account deficit figures for the fourth quarter of 2014 from $ 91.2 billion to $ 30.5 billion. While the current account surplus, the trade component count, it was revised up from $ 61.1 billion to $ 67 billion.

Oil Record Week Eight Strengthening streak

Monday, May 11, 2015

WTI crude oil rose on Friday after the company Baker Hughes reported the number of rigs operating in the US decreased in 22 consecutive weeks. Strengthening on Friday that makes oil has recorded an increase in eight consecutive weeks.

The number of rigs operating reported decreased by 11 last week, a total of 668, with a ratio in the last year of 1,528 rigs operating. Data on Friday also showed China's imports of crude oil touched a record in April, however traders cautious due to low oil prices could be the amount of import intended for stockpiling, while a decrease in the price of coal and copper to signal the second largest economy in The world is still slowing.

Energy Information Admnistration Data on Wednesday showed US crude inventories fell for the first time in four months last week, which helped to strengthen oil. However, the report also shows an increase of gasoline and distillate fuel inventories.

News and Economic Review Zone Asia (China)

China No Longer Smartphone Market Potential

Monday, May 11, 2015

Over the past two years, China lined up as the world's largest mobile market. But claims it is unlikely to last long because of the amount of demand for smartphones is reduced in early 2015.

According to the Wall Street Journal, China's market share does not have a lot of space to grow again due to demand of its citizens smartphone begins to saturate. The number of smartphones shipped to China fell 4.3% in the first quarter of 2015 compared to the same period last year. This decrease is the first time this has happened in the last 6 years, according to data compiled by International Data Corp. Separate survey did show that the smartphone market is still growing, but the growth rate is lower than ever before.

Technology analyst claims that the decline occurred because berkurangnnya first mobile phone users. Now the smartphone has an average penetration of less than 90% in China or means, all those who need a smartphone now really have it.

Therefore, the producers now have to be more astute in marketing their products with buyers targeting the consumer, who likes to change the mobile phone for at least 2 years. Usually they buy mobile phones if they see any more innovative product has not been damaged despite the length smartphone.

News and Economic Review Zone Asia (China)

Spur economic growth, China Back Lower Interest Rate

Monday, May 11, 2015

Continued slowdown in China perekonmian make People's Bank of China (PBOC) lowered the benchmark interest rate on Sunday, and begin effective from today. PBOC has lowered interest rates three times since November to spur the economy fell to its lowest level since the global financial crisis. China's own economy is projected to grow 7% this year, the projection was the lowest in the last 25 years.

PBOC lowered interest rates on loans and deposits of one year each by 25 basis points, to 5.1% and 2.25%. PBOC said the move will help the healthy economic growth. In addition to lowering interest rates, the PBOC also provide greater flexibility to commercial banks to provide one-year deposit interest rate to a maximum of 3.375%.

Until now, the Chinese central bank has lowered interest rates, and demand a minimum mandatory reserves five times in the last six months, economists still expect there will be further monetary easing due to weak property market and Letting growth in the manufacturing sector and investment.

News and Review of European Economic Zone (UK)

Slow economic growth, BoE Keep Policy

Monday, May 11, 2015

The Bank of England on Monday decided to keep the benchmark interest rate unchanged, amid signs of economic slowdown in the UK earlier this year.

In the first policy announcement after the title of the British election last week, the Monetary Policy Committee kept interest rates steady at 0.5% and the total amount of bond purchases at £ 375 billion ($ 579 billion). The decision was according to economists' estimates.

BoE usually announces its monetary policy decision on Thursday. However, it should be delayed this month, due to the British elections that took place on the same day last week. Since March 30 last BoE policy makers are also bound by the rules of the election in the UK, where public officials are forbidden to speak in public as the start of the election campaign.

While on Wednesday tomorrow BoE is scheduled to publish the latest projections of the UK economy through its quarterly inflation report. UK economic growth is reported to grow at a weaker pace than expectations in the first quarter, with only up 0.3% from the previous quarter. Meanwhile, annual inflation has also slowed to zero following the fall in world oil prices.

News and Review of European Economic Zone

ECB Nowotny: Greek Problems Not Economics

Monday, May 11, 2015

The European Central Bank on Monday said that the problem in Greece is more to politics than economics.

Discuss with left-wing political parties in Greece like Syiriza and left wing in Spain as PODEMOS may be more frequently bring us with new ideas, but at the end of the day, they must give a decision, "said ECB member Ewald Nowotny, he added that the discussion "instead of being on a game."

Central bankers refused to speculate on how to solve Greece's financial problems by saying that "the problem is more political than economic issues dominate.

Nowotny also do not see the ECB's role in creating a federal government finances in the euro zone.

He said that we can not replace the political field.