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Oil Steady After Biggest Monthly Increase In 6 Years

Friday, May 1, 2015

US crude oil futures prices move stabilized the range of $ 59.70 per barrel in quiet trade on Friday, with many major markets closed for MayDay, after posting its biggest monthly gain in six years in April.

US crude prices for the contract in June moved 4 cents higher at $ 59.67 a barrel at 10:30 pm. in April, the contract rose at a quarterly level, it becomes the biggest monthly gain since May 2009, and on Thursday touched its highest level in 2015 at $ 59.85.

OPEC oil supply in April rose to its highest level in more than two years, driven by supply from Iraq and Saudi Arabia that were near record highs, are shown in a Reuters survey.

Pemunjukkan by the King of Saudi Arabia to the two heirs will help stabilize the oil market to strengthen political stability in the kingdom, said Oil Minister Ali al-Naimi was quoted as saying by state media on Thursday.

News and Economic Review Zone Asia (Japan)

Japan Automobile Sales Up 5% On Annual rate in April

Friday, May 1, 2015

Automotive sales in Japan which does not include small cars rose by 5% at an annual rate in April, industry data showed on Friday, the data reflects a sharp decline in demand from a year ago due to the increase in the consumption tax.

Japan Automobile Dealers Association said that total sales in the month of April amounted to 198.371.

In a separate report, the Japan Light Motor Vehicle and Motor Association said that the demand for small cars, the engine size of 660 cc or less, down 22.5% from a year ago.

Automotive sales, as measured Based on the registration of vehicles with government, monitored by economists since they are the first consumer spending are released every month.

News and Economic Review Zone Asia (China)

Manufacturing activity in China Moving Stable In April

Friday, May 1, 2015

China's manufacturing index stabilized engaged in expansion territory in April, the data shown by the government on Friday.

Manufacturing purchasing managers index from the Chinese government to survive at the level of 50.1 in April, unchanged from the reading in March, said the China Federation of Logistics and Purchasing, which issues the data with the National Bureau of Statistics, in a statement.

April PMI index beat expectations for a reading at level 50 of the Wall Street Journal survey of the 11 analysts.

A PMI reading above 50 indicates expansion in manufacturing activity from the previous month, while a reading below 50 indicates contraction.

News and Review of European Economic Zone (Greece)

Rating Agencies: Greece Will Not Default If Default ECB

Friday, May 1, 2015

Most of the major rating agencies say they will not be defaulit Greece cut its rating if it fails to make a payment to the International Monetary Fund or the European Central Bank, measures can continue to maintain the vital flow of funds from the ECB towards the financial system. Greece owes nearly 1 billion euros to the IMF in May and nearly 7 billion euros at the ECB in July and August and there are concerns that the Greek government, the impasse in negotiations with the creditors, will not be able to pay on time.

This will make the fate of Greece in the euro zone are unclear and raises the question of whether it can trigger a similar reaction, the possibility of accelerating the maturity date of payment in the private sector and other lenders, helped add to the problems of Greece. But for most of the rating agency, which determines whether the ECB's view can still accept Greek government bonds as collateral on a loan perbankanya sector, failure to make payments to the IMF would not make a Greek default. It is important to maintain the strut mechanism of life, emergency fund ELA provided by the Greek central bank with the approval of the ECB, flowing towards the banking sector mindless ECB will not accept bonds issued by the government default.

News and Review of European Economic Zone (UK)

UK Manufacturing Sector Slows, Exports Depressed

Friday, May 1, 2015

The growth rate of the UK manufacturing sector unexpectedly slowed last month as the strengthening of the pound suppress the level of demand for British goods overseas. Manufacturing sector PMI dropped to a seven-month low at 51.9 from 54 in March, according to Markit on Friday in London. Mempekrirakan economists rose to 54.6 from 54.4 the previous results at. The level of new export orders contracted for the fifth time in seven months.

The pound has gained about 6% this year against the euro, Britain's biggest trading partner, as the European Central Bank to buy government bonds in order to trigger inflation. Data from the Markit amplifies the signal that the UK economy will probably slow as black before the election, after Tuesday's data showed pertumbuh GDP slowed in the first quarter. According to economist at Markit, the global economic slowdown and the strengthening of sterling against the euro suppress competitive exporters in the UK, and a major challenge for the next government is to revive the manufacturing sector and help achieve high levels before the crisis.

Oil Closed in Upper Level $ 58 per barrel.

Thursday, April 30, 2015

WTI crude oil rose sharply and ended at the highest level this year. Oil prices pushed higher after US government data showed a decrease in oil inventories at the delivery center Cushing, Oklahoma.

Energy Information Administration (EIA) reported that US oil inventories throughout last week rose 1.9 million barrels, and scored the highest record in 16 consecutive weeks. However, the increase is still lower than the American Petroleum Institute reports the previous day by 4.2 million barrels, and a survey of a Reuters forecast a rise of 2.3 million barrels. While inventories in Chusing, down as much as 514,000 barrels, becoming the first decline since November. EIA also reported gasoline inventories rose by 1.7 million barrels, and distillate fuel rose by 100,000 barrels.

Throughout this month, the price of WTI crude oil has gained about 20%, becoming the biggest rebound since the sell off of oil in June last year. Oil trade on Wednesday closed at $ 58.53 per barrel, with a $ 59.33 daily highs and lows $ 56.54

News and Review of European Economic Zone

Save the Eurozone ECB Stimulus From Deflation

Thursday, April 30, 2015

The rate of consumer inflation in the euro zone put an end to the decline for four consecutive months after the European Central Bank began pumping billions of euros into the region's economy through quantitative easing program hers. The inflation rate stagnating in April from a year earlier post fell by 0.1% in March, according to European Union statistics office in Luxembourg on Thursday. The data is according to analyst estimates. The unemployment rate remained at the level of 11.3% in March. The progress confirms ECB President Mario Draghi that the large-scale asset purchases have successfully demonstrated success in avoiding deflation in the 19 countries of the euro zone. Bank lending rate rose in March for the first time since 2012 and the positive data from Germany and Spain refers to the strength of recovery despite the Greek crisis still weighed on sentiment investors.

According to economists, inflation data will rebound during the year, following the normalization of energy prices, while the core inflation rate is still quite low, and it will strengthen the opportunities for monetary easing. The inflation rate in addition to harag energy, food, and tobacco rose by 0.6% from April last year, according to Eurostat. A sharp drop in energy prices have eased.

News and Review of European Economic Zone (France)

French consumer spending down in March

Thursday, April 30, 2015

Total consumer spending in France fell in the month Matey after four months of consecutive rise, the data indicated by Insee on this day.

Consumer spending in the country with the second largest economy in the euro zone fell by 0.6% at the monthly level in March as energy consumption fell 3.2% and the household sector less in shopping-marang goods manufacturing, furniture for the home and clothing.

However, although the monthly rate fell, to an annual rate of consumer spending rose by 2.1%.

After expansion in January of February, consumer spending 1.6% higher in the first quarter than the same period last year, it became the steepest rise since 2009.

News and Review of European Economic Zone (Germany)

German Retail Sales Slips Back in March

Thursday, April 30, 2015

German retail sales surprisingly again showed negative figures in March, extending losses recorded in February, according to the federal statistics office Destatis reported Thursday. March retail sales slid 2.3% after falling 0.1% in the previous month. The figure confront the estimated increase of 0.4% from the economists.

Nevertheless, German retail sales data assessed as an indicator of the volatile and prone to large revisions. Therefore, the analysts tend to view the monthly figures with caution and consider the average figures in 3 months.

On an annual basis, German retail sales recorded an increase of 3.5% in March. While in the first 3 months of 2015, retail sales increased 3.6% compared to the same period last year, Destatis added

News and Economic Review Zone Asia (Japan)

Japan Industrial Production Down 0.3% in March

Thursday, April 30, 2015

Japanese industrial production fell less below the forecast in March, sinyalkan some economic security in the country with the third largest economy in the world before the central bank meets to decide monetary policy.

Output fell by 0.3% from February, when output fell by 3.1%, according to a report from the ministry in Tokyo on Thursday. The median estimate of analysts surveyed indicate to decline 2.3%.

Bank chief Haruhiko Kuroda of Japan rely on strong growth to reduce sagging in the economy and trigger inflation, which has been retained by the decline in oil prices. Meanwhile 32 of 34 economists surveyed by Bloomberg expect the BOJ will refrain from adding stimulus at today's meeting, which mostly look for a boost at the end of October as Kuroda pursue an inflation target of 2%.

Analysts of one of the research institute said that the production of the report provide support for the Bank of Japan. But he also added that the production is still down when inventories increased, indicating manufacturing is not too strong

Oil Weakens Thin in Asian session, Investors Wait for Data Backup

Wednesday, April 29, 2015

Crude oil prices fell moderately in the Asian trading session on Wednesday with economic data and the amount of crude oil reserves will probably dictate the market.

On the New York Mercantile Exchange, light sweet crude for June contract traded the range of $ 56.93 per barrel, down $ 0.13 in the electronic session. Meanwhile Brent oil in June fell $ 0.10 into $ 64.54 per barrel.

On Tuesday night, data from the American Petroleum Institute showed that US crude inventories rose as much as 4.2 million barrels in the week ending 24 April, but the backup at Cushing fell 0.2 million barrels.

Data from the API, an industry group, gave the feel of the beginning of the level of crude oil reserves, but to be sure we got to see the real results of the Energy Information Administration on tonight and analysts estimate the reserves will rise 2.8 million barrels last week.

The current price of oil has rallied in most of the period of April, the market observers still doubt that momentum because oil supply still exceeded demand.

News and Economic Review Zone Asia (China)

Chinese officials denied the report on QE Program Plan

Wednesday, April 29, 2015

Related news on QE program plan, chief economist People's Bank of China Ma Jun has issued a rebuttal, saying that China's central bank does not plan to buy municipal bonds.

As quoted by Yicai.com, Ma Jun said the PBOC has had enough policy tools without having to prepare new measures as previously reported by Reuters, The Wall Street Journal and a number of other media.

On Tuesday, China's central bank reported yesterday preparing the most aggressive easing policy tool since they launched a massive stimulus plan in 2008 to fight the global financial crisis, in an effort to help one of the most important initiatives in the economic rescue

News and Review of European Economic Zone

Lending levels Eurozone Up in March

Wednesday, April 29, 2015

Rate loans to people and companies in the euro zone rose for the first time in 3 years in March, according to data from the European Central Bank on Wednesday, scoring the increase is less than 2 months after the ECB launched a program of massive money printing. Loans to the private sector rose as much as 0.1% of post fell by 0.1% in February, according to the ECB. Reuters poll estimate loan rate remained flat at 0.0%, last increase occurred in March 2012. The slowing down of loans to corporations has been difficult for the euro zone economy, although the outlook has improved and policy panel including ECB President Mario Draghi believes that the euro zone is being recovered , Progress is partly due to stimulus schemes worth more than 1 trillion euros to buy government bonds, which pushed the level of confidence despite the political impasse with Greece.

Guillaume Menuet, chief euro zone economist at Citi in London, said lending conditions eased dramatically begin to be felt its effects. The improvement in lending conditions are also caused by compression risky lending margins, which indicates that the increase in the level of loan terjadai widely and evenly in the euro zone. M3 money supply rose as much as 4.6% in March, according to the ECB.

News and Review of European Economic Zone (Greece)

ECB Raises Ceiling Emergency Funds To Greece

Wednesday, April 29, 2015

European Central Bank (ECB) to raise the maximum limit of an emergency fund, Emergency Liquidity Assistance (ELA), for Greek banks. The ECB is also reviewing the steps needed to reduce the risks associated ELA funds weigh the slow progress of negotiations between Greece and its creditors.

ECB internal speakers from Bloomberg interviewed explained ceiling emergency fund untu Greek banks added 1.4 billion euros to 76.9 billion euros. The ECB will address the funding requirements of ELA in the meeting on May 6 and one of the measures proposed is to add pieces worn on the proposed bank assets as collateral for loans.

This additional liquidity should help Greece which is almost bankrupt and facing some domestic payments to international creditors in the near future. Greece had to pay the wages of employees and retired at the end of the month and arrears of 1 billion euros to the International Monetary Fund (IMF) in early May.

News and Review of European Economic Zone (UK)

House prices in Britain Recording Growth Highest In 10-Months

Wednesday, April 29, 2015

House prices in the UK rose in April to the highest monthly rate since June last year, according to the Nationwide survey released Wednesday. Which adds to the signs if the housing market may begin to regain momentum. Nationwide said house prices grew 1.0% in April after rising only 0.1% in March, exceeding all predictions of economists in a Reuters poll.

On an annual basis, house prices increased to 5.2% from 5.1% in March. Which is the first rise in annual house price growth in the 7-month.

"The condition of a healthy labor market and mortgage interest rates low had helped push demand for housing until the next quarter," said Robert Gardner, Nationwide's chief economist.

But Gardner also said that if the level of activity in the housing market is still relatively flat overall, in spite of the surge in house price growth in April. Uncertainty ahead of Thursday's national election next week may also weigh on activity, with mortgage approvals was down about 20% from the level at the beginning of 2014, he added

Oil Decline in Early Week

Tuesday, April 28, 2015

WTI crude oil ended lower on Monday after volatile due to the conflict in Yemen and a decrease in the number of operating rigs capable of withstanding further decline, while the increase in global oil supply making market participants cautious after oil prices touched its highest level in 2015.

Saudi Arabia returned to lead air strikes against Houthi rebels in Yemen on Monday. While the data from Baker Hughes showed the number of US rigs in operation fell within 20 consecutive months, and are at the lowest number since 2010. The signal excess global oil supply comes from the news that says Saudi Arabian Oil Minister Ali al-Naimi said he was ready to add oil supplies to China if necessary.

Oil trading on Monday closed at $ 56.65 per barrel, with a $ 57.89 daily highs and lows $ 56.52

News and Economic Review Zone Asia (Japan)

Japan Retail Sales Down 9.7% in March

Tuesday, April 28, 2015

Japanese retail sales fell at an annual rate of 9.7% in March, compared to growth of 11% was achieved by March 2014, when sales pushed massive purchases by consumers before the sales tax increase.

Economists had forecast retail sales of Japan will decline 7.3%, after posting a 1.8% decline in February.

The economy has received a hard blow as the shrinking consumer spending as a result of the increase in the consumption tax to 8%, which comes into force

April last year. A condition that eventually forced the government to postpone the increase in sales tax that was originally to be implemented in October this year.

News and Review of European Economic Zone (UK)

Disappointingly, the rate of UK GDP Located in the Lower Estimates

Tuesday, April 28, 2015

Gross domestic product (GDP) grew at a rate UK slower than expected in the first quarter at 0.3%, becoming an important economic indicator last 9 days left before the election. Preliminary estimates from the Office of National Statistics (ONS) showed GDP grew by 0.3% on a quarterly level, below estimates of 0.5% according to a Reuters poll.

The data is unlikely to be welcomed by Prime Minister David Cameron, who has made the strengthening of the economy as an important part of the campaign ahead of the elections on 7 May. Sterling weakened towards the range of 1.5185 after the data was released. Respond to these data, David Cameron and Chancellor of the Exchequer George Osborne said the economy was still growing but may not take the risk of recovery

News and Review of European Economic Zone (France)

Governor of the Bank of France: French Economy Could Grow 1.5% Next Year

Tuesday, April 28, 2015

The economy could grow more than 1.5% in the next year if the government continues its steps to make France more competitive, according to the Governor of the Bank of France on Tuesday.

"We could see a 1.5% growth over the next year if we make bold reforms," ​​Christian Noyer said in an interview with radio station Europe 1. The growth rate will be enough to push the unemployment rate, he said.

Noyer added that the French government needs to go further in overhauling the labor market. The Government should be able to create a more simple employment contract to help push the younger generation of job insecurity, while the minimum wage should also be more flexible so as not to be a barrier to entering the labor market.

Governor of the Bank of France, who will retire this year, also found changes in the controversial labor law would be easier to do today than next year, which France prepares to hold presidential election in 2017. In addition, France is also still need to continue efforts to balance budget.

News and Review of European Economic Zone (France)

Unemployment in France Reaches New Record High

Tuesday, April 28, 2015

The number of unemployed in France reached a new record high in March, fully restores decline recorded at the beginning of this year.

The number of job seekers category "A", which is defined as registered jobseekers menanggur entirely, rose 0.4% in March from February to 3.5098 million, the data shown by the labor ministry. The previous record was achieved in December, as many as 3,500,700.

That number into pukulam against French President Francois Hollande, who has been targeting the unemployment rate to one of his priorities before the 2017 elections.

Parta Socialist leader has been trying to tackle the problem from different angles. He introduced a scheme to sponsor work with young people after he took office in 2012, and last year he implemented tax cuts for employers in an effort to increase the recruitment of workers. The latest plan of the government is an incentive scheme for young people to who have low paid jobs.

So far, these efforts only provide little impact. The unemployment rate in France, which is published quarterly by the statistics bureau Insee, has been rising since Hollande became president. Recent figures showed the unemployment rate reached 10.4% level at the end of last year, and Insee expect it will continue to rise to reach the level of 10.6% in mid-2015 because of the increasing number of young people who want to enter the labor market.

Oil Moves Close High Level 4 Months Due to volatility Middle East

Monday, April 27, 2015

Oil held near its highest level in more than four months on concerns that oil shipments from the Middle East may be disrupted as Saudi Arabia still went on the offensive in Yemen.

Oil futures were little changed in London after being closed for a rise in the third week of April 24. Saudi Arabia's Shiite rebels destroyed two vehicles were carrying weapons near the border with Yemen, reported by al-Arabiya television, quoting from the statement of the border guards. In Libya, a member of the Guard Guard Facility Elephant Oil refinery shut on Saturday because wages have not been paid. said Mohamed Elharari, spokesman of SOE Libyan National Oil Corp.

Oil has gained 19% this month on speculation that the chaos in Yemen may be widened in the oil-producing region in the world.

Brent crude contract for June move the range of $ 65.36 per barrel do London, up 8 cents this morning. Sebesat contract rose 43 cents to $ 65.28 on Friday, it was the highest closing level since December. Europe's premium crude oil stood at $ 8.23 ​​to the US West Texas Intermediate oil.

WTI oil for June rose by 1 cent to $ 57.16 per barrel in electronic trading on the Nymex. The volume of all futures contracts traded around 75% below the MA 100.

News and Economic Review Zone Asia (Japan)

Fitch Ratings downgrade of Japan Related Fiscal Policy

Monday, April 27, 2015

Fitch Ratings cut Japan's credit rating by 1 ranking after the government failed to take steps in this fiscal year's budget to dampen the impact of the delay sales tax increase, according to Fitch on Monday. Fitch cut its rating on Japan by 1 rating to A, which is ranked in the bottom 5 top pertingkat AAA. Japan's rating outlook remains stable.

Plans to cut corporate taxes to increase uncertainty about whether the government will earn sufficient income to cope with its debt burden, according to the Fitch statement. Last year, Moody's Investors Service cut Japan's credit rating to A1, which is one rank above the Fitch rating, due to the delay in the increase in sales tax.

News and Review of European Economic Zone (Germany)

German Business Sentiment at Highest Level Since June

Monday, April 27, 2015

German business sentiment improved in April, indicating that the economic recovery in Europe's largest economy, which started a year ago is still gaining momentum. By the Ifo business climate index rose to 108.6 in April from 107.9 in March, touching the highest level since June 2014. Economists had forecast a rise to 108.4. Ifo President Hans-Werner Sinn said that the recovery in the German economy continues.

The index continues to show the strengthening of the growth rate in 2015 than last year, but the evidence suggests that the gains are limited. PMI survey this week showed that the private sector in Germany grew at a slower pace in April compared to March, while a separate survey by the ZEW also showed poor results lebi from the previous month. Sinn added that the manufacturing sector assess their current business conditions improved from last month, but only sedikti optimistic about future business developments.

News and Review of European Economic Zone (UK)

CBI Industrial Orders Data Disappointing Pound

Monday, April 27, 2015

Pound sterling fell slightly lower against the US Dollar after the release of data expected UK industrial orders rose only slightly in April. Confederation of British Industry (CBI) reported the results of a survey of 468 companies rose 1 point to a level of 1 in April from the zero level in March. Although the survey results above the zero level indicates expectations of an increase in orders, but the increase in April was lower than the market forecast is gaining 4 points to level 4.

CBI leaders declared domestic orders still rose by a moderate pace, but orders from abroad slowed unexpectedly. Export activity is still hampered strengthening pound sterling against the euro which made the British domestic products less competitive in European markets. The uncertainties related to the Greek financial sector also weighed on the British industry. Overall, the data CBI lowered growth projections optimism for the UK economy.

News and Review of European Economic Zone (Greece)

Greece Reshuffle Team Negotiators

Monday, April 27, 2015

Prime Minister of Greece, Alexis Tsipras, overhaul negotiators team that will face European creditors and the International Monetary Fund (IMF). The move comes after Greece's finance minister, Yanis Varoufakis, sharp criticism over its performance in last week's meeting of the Euro zone. Varoufakis, economist known open and forthright, isolated in the euro zone finance ministers meeting in Riga last week and came home empty-handed in the middle of the financial crisis Greece is nearing bankruptcy.

Tsipras and his senior officials to express support and approve Varoufakis Varoufakis will be the new team leader to negotiate a reform agreement with the creditors. However, they also pointed to the Deputy Minister of Foreign Affairs, Euclid Tsakalotos, as coordinator of the group. In contrast to Varoufakis, Tsakalotos seen as Oxford economist who tend to be more flexible in negotiating and preferably officials. From now on, Tsakalotos given a more active role in the talks and is expected to give different results