News and Reviews European Economic Zone

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News and Review of European Economic Zone (Switzerland)

 

Against the Swiss franc Bearish Rupiah, Industrial Production Weakens

Friday, July 13, 2012

 

Swiss Franc movements in currency trading today (13/07) showed a negative sentiment towards the currency, and looked down at the pair CHF/IDR. Swissie moderate bearish during the month of July.

 

Federal Statistical Office reported that the PPI index m / m in the contract?? "0.3%, continuing contraction in May for??" 0.2%. This report is an unexpected result, which some economists estimate will only be a contraction?? "0.2% in June.

 

Swiss franc down about -0.15% against the Euro currency in forex trading today, while the British pound by selling rates of Bank Indonesia rate in the range of Rp. 9676.01/CHF and buying rate of about Rp. 9577.62/CHF.

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News and Review of European Economic Zone (France)

 

France Rejects Plan for Government Employees Peugeot layoffs

Friday, July 13, 2012

 

Manufacturer PSA Peugeot Citroen plans to conduct layoffs (layoffs) as much as eight thousand employees and close one factory in France. It happened due to the financial crisis that hit Europe in a period of time.

 

The French government did not stay silent on matters relating to the survival of many of these citizens. The government also appointed an expert to analyze the situation of the company.

 

"We can not accept something like this. We must look, then analyze it. This is money which is distributed with no return, which is unacceptable," said French Minister of Social Affairs, Marisol Touraine. It is quoted from Inautonews, Monday (07/13/2012).

 

Government's refusal to plan layoffs because Peugeot has received a $ 4 billion euros or the equivalent of Rp46, 1 trillion within a period of recent time.

 

According to Touraine, the government will see what kind of corporate strategy and will continue to continue to defend the interests of its people. "The study will take two weeks and meetings are held later this month to announce the results," said Touraine.

 

For your information the Peugeot announced plans job cuts on Thursday and has closed its assembly plant Aulnay. It happened because the Peugeot suffered financial losses. Layoff announcements from Peugeot is a major blow to the government, the article of the government has promised to help hire 150 thousand employees over the next five years.

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News and review European Economic Zone (Germany)

 

German Bonds Stronger As Euro Weakens

Monday, July 16, 2012

 

The cost of German bonds fell a record, the euro was near its lowest level in two years against the dollar and bank debt insurance costs rose amid fears of European debt crisis will worsen.

 

Germany's three-year yield fell 3 basis points to 0.282. The euro fell 0.5% to $ 1.2185. Bond swap banks in Europe rose to the highest level one week. Inflation in the euro zone at the lowest level since February 2011 last month and the value of imports fell in May, according to a report of the European Union today. U.S. data may show a rise in retail sales and manufacturing are the prop of the New York area.

 

"Investors do not really worry about the return, they just want to know how they will get their money back," said Gianluca Ziglio, an interest rate strategist at UBS AG in London. "The market is still worried about the situation of the euro zone. There is risk aversion and fear of the ongoing crisis on the rise, which means investors will continue to focus on the bonds from the core countries.

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News and Review of European Economic Zone (Switzerland)

 

Level to Achieve Parity USDCHF

Monday, July 16, 2012

 

Can weaken the Swiss franc to reach parity level (1:1) against the U.S. dollar as the euro continued weakness, according to UBS analyst, Credit Suisse, and Swissquote Bank. USDCHF has traded near the weakest level in 19 months and not so far from parity 1.0000 level. Performance franc against the dollar continued to deteriorate since the Swiss National Bank (SNB) has vowed to limit the strengthening of the franc to ease pressure on exporters. Swiss central bank has committed to maintain a lower limit EURCHF at 1.2000.

 

"SNB's commitment signaled the central bank will run a large-scale policy interventions. However, interventions to keep the lower limit of the euro means the SNB will have to recycle its stock euro. Recycle 50% may be focused on the U.S. dollar. As such, most of the U.S. dollar bought SNB will be sold to buy dollars. If EURCHF continued to test the SNB intervention level then this will make the USDCHF reaches parity level, "said Chris Walker, a strategist at UBS.

 

"If the euro continues to weaken so that the lower limit EURCHF threatened the USDCHF exchange rate could reach 1.0000," said Bernd Berg, strategic Credit Suisse. "If the franc against the dollar reached parity level then this will not increase inflation Switzerland has given the Swiss economy over closer ties with the European economy. USD / CHF could reach parity within the next six months, "said Peter Rosenstreich, analyst at Swissquote Bank.

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News and Review of European Economic Zone (UK)

 

Ahead of Bernanke's statement, the pound against the dollar helpless

Monday, July 16, 2012

 

Pound weakened against the dollar again Monday, as markets await statement by Federal Reserve Chairman Ben Bernanke on the economy in the U.S. Senate on Tuesday and Wednesday.

 

Pound observed the session to level against the U.S. dollar at 1.5545 level in European morning trading, then consolidated at the level of 1.5544, or 0.20% slip.

 

Investors remained cautious ahead of Bernanke's testimony on the economy to the Senate on Tuesday, amid growing speculation about whether the U.S. central bank will introduce a further easing to stimulate growth.

 

In June, Bernanke said the Fed remains ready to take additional steps to support economic growth if needed, including the purchase of additional assets.

 

Sterling still has the support after the Bank of England announced the programs 'funding for the loans' new $ 80 billion pounds on Friday, which will offer cheap credit to households and businesses.

 

Pound is trading near the level observed over three and a half years against the euro, up 0.02% to as low as 0.7862, but weakened against the yen, down 0.37% to trade at 122.85 level.

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News and review European Economic Zone (Germany)

 

German economic sentiment worsened

Tuesday, 17 July 2012 16:27

 

After being down and up towards the 0.9780 level, the pair USD / CHF continues to depreciate in the morning European session. Depressed by positive sentiment and risk appetite, the greenback has delivered gains recently with his Swiss colleague, and now operates at the lower end of price range (0.9752 minutes per day), Tuesday.

 

In Germany, ZEW Economic Sentiment survey in July, down from -16.9 to -19.6 and even worse than expected. With regard to the EU, ZEW survey of economic sentiment produced -22.3 points, compared to consensus of -18.3 in July. According to Slobodan Drvenica, an analyst at Windsor Brokers Ltd, "The pair dropped sharply and reached our first weekly targets, and is currently traded under the influence of a bearish pattern. Region acted as strong resistance 0.9865 as we had hoped to limit the upside move. "

 

As a result of the German ZEW economic sentiment news euro was down at the level of 1.2297 and 1.2283 of a position now stabilized at that level. Market waiting for the results observed Bernanke's speech and many investors will respond to his questioning of the results tonight.

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News and Review of European Economic Zone

 

Look forward to Bernanke, euro rise against the dollar wiped out

Tuesday, July 17, 2012

 

Euro wiped out gains against the U.S. dollar gained on Tuesday amid a full trade with caution ahead of the initial testimony Federal Reserve Chairman Ben Bernanke on the economy in today.

 

The euro continued to receive support ahead of testimony by Fed Chairman Ben Bernanke today and tomorrow Wednesday, amid speculation that was going on about whether the U.S. central bank will introduce advanced easing to stimulate growth.

 

Hope for another round of quantitative easing sticking on Monday after official data showed retail sales fell a third consecutive month in June.

 

While the German economic sentiment data showing a decline for the third consecutive month in July, due to concerns over the ongoing debt crisis in the eurozone continued to weigh. The ZEW Center for Economic Research said its index of German economic sentiment fell to minus 19.6 in July from minus 16.9 in June, but slightly better-than-expected drop to minus 20.0.

 

Euro tracked down from the highest level since July 10 against the dollar at 1.2316 level during the European afternoon trade, but still gained 0.10%. Euro notes and the yen strengthened against the pound, edged up 0.13% against the pound and diperdagangklan at 0.7858 level and up 0.39% against the yen traded at 97.15.

 

Today, the U.S. published official data on consumer price inflation, as well as reports about the level of capacity utilization and industrial production.

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News and Review of European Economic Zone (UK)

 

Monitor Bernanke, the pound also fell against the dollar

Tuesday, July 17, 2012

 

Pound weakened against the U.S. dollar at a session Tuesday after data showed UK consumer inflation unexpected drop, while investors awaited testimony on the U.S. economy from Federal Reserve Chairman Ben Bernanke today.

 

Sentiment against the pound get a blow after official data showed UK consumer price inflation fell to its lowest level in more than two and a half years in June, after the retailer offers a discount on clothes and shoes to encourage consumers to shop.

 

Office for National Statistics said the annual rate of consumer price inflation fell to 2.4% from 2.8% in May, its lowest level since November 2009.

 

Sterling still has the support ahead of testimony by Fed Chairman Ben Bernanke today and tomorrow Wednesday, amid speculation that was going on about whether the U.S. central bank will introduce advanced easing to stimulate growth.

 

Hope for another round of quantitative easing sticking on Monday after official data showed retail sales fell a third consecutive month in June.

 

Touch the pound below the session level against the dollar at 1.5612 level in European afternoon trading, the pair then consolidated at the level of 1.5621, or 0.09% recorded a decrease. Pound also recorded a decrease of the level of three and a half years against the euro, down 0.16% traded at 0.7816.

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News and Review of European Economic Zone

 

S & P Estimate Cyprus Need 15 Billion Euros

Wednesday, July 18, 2012

 

Today the Standard and Poor's may need to inform the Cypriot carrying a rescue fund to 15 billion euros, equal to 83% of the GDP of Cyprus. Rating agency said on Wednesday that the ongoing instability in the area, due to the uncertain situation of Greece, has increased the amount of bailout money should be received Cyprus.

 

Cyprus, which applied for an international bailout last month, is now waiting for the European Union, ECB and IMF's decision to the size of the package, which will be announced next week.

 

Meanwhile, rumors have been circulating on this on Wednesday about a possible credit downgrade Austria.

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News and Review of European Economic Zone

 

Solid Earnings cradles the European Market

Wednesday, July 18, 2012

 

Most of the stocks in the major European bourses traded higher on Wednesday following an increase in market enthusiasm after a series of solid earnings from some major European companies.

 

German DAX and French CAC40 perched in the green zone with each collected 0.25% and 0.7%. Similar performance is also shown that the UK FTSE rose 0.1% in the first 3 hours of trading.

 

Nordea shares of the banking sector led gains after it reported higher earnings than expected, although on the other hand, they warned that if the slowing of growth in the euro area debt crisis risks affecting the business outlook. While the earnings report ASML, the world's largest chipmaker, is also pushing the technology sector stocks trading higher others.

 

The success of a number of companies reported stronger than expected earnings have been at least dampen the disappointment of investors after the Federal Reserve Chairman Ben Bernanke in his testimony on Tuesday did not give further clues about the monetary stimulus (QE3)

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News and Review of European Economic Zone (Spain)

 

Bank deposits Spain Shrinking 5.75% in May

Wednesday, July 18, 2012

 

Bank of Spain saw a further decline in their deposit group in May, due to concerns about health in this sector increases, the data released by the Bank of Spain, Wednesday.

 

According to the calculation, total deposits of the private sector are held by banks shrank by 5.75% from the previous year, amounting to? 1327 trillion ($ 1,629 trillion). The data show savings thawed in May for? 7.4 billion compared with April.

 

The volume of deposits fell faster than loans, which fell 3.82% this year in May in the amount? 1741 trillion. Non-performing loans continue to rise in May for the 14th consecutive month, with bad credit for? 155.84 billion or 8.95% of total loans.

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News and Review of European Economic Zone

 

Europe rose in the opening exchanges, Akzo Nobel and Sandvik give support

Thursday, July 19, 2012

 

European stock markets rose in early trading session opening Tuesday, boosted by a number of earnings reports are quite optimistic.

 

Europe Stoxx 600 Index rose 0.3% to a level of 259.78, with Sandvik AB shares jumped 6.4% and Akzo Nobel NV which recorded an increase of 4% after both companies reported earnings.

 

Meanwhile Skanska AB shares fell 7% due to missed earnings estimates lapoan. And in the UK, Kingfisher PLC shares fell 2.6% after reporting a sales decline.

 

German DAX 30 index up 0.4% to a level of 6710.51, while the French CAC 40 index rose 0.4% to a level of 3247.72 and the FTSE 100 index rose 0.1% to as low as 5,691.95.

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News and Review of European Economic Zone

 

European markets open positive in London

Thursday, July 19, 2012

 

In line with Asian markets, European markets opened positive on the morning of transactions in London. At 08:01 pm London time, the Stoxx Europe 600 Index rose 0.2% to 259.54. If seen, the benchmark is the Blue Continent has surged 11% from the lows of this year that is created on 4 June.

 

Number of shares that movement helped boost European markets are Akzo Nobel NV and Novartis AG are racing each 3% and 0.7% after posting second-quarter performance that exceeded analysts' estimates.

 

U.S. sentiment is still a fresh vitamin for European markets. As you know, home sales data released last night (18/7) jumped 6.9% in June.

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News and Review of European Economic Zone

 

Eurozone current account surplus rose

Thursday, July 19, 2012

 

Eurozone current account surplus rose unexpectedly in May, as indicated by the data release today.

 

In its report, the European Central Bank said the euro zone by adjusting the surplus stood at? 10.9 billion in May, up from? 5.5 billion last April revised upward from surpulus? 4.6 billion.

 

Meanwhile, seasonal surplus accumulated in the last 12 months stood at? 36.3 billion in May, about 0.4% of Eurozone GDP. Last year the current account recorded a deficit of? 17.0 billion.

 

This happened thanks to the rising surplus surplus goods, services, and income. After the release of the data the euro was at $ 1.2295 against the U.S. dollar.

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News and review European Economic Zone

 

Amid 0.9860 USDCHF Resistant Translucent Spanish Drama

Friday, July 20, 2012

 

The deteriorating situation in Spain has been supporting the movement of U.S. dollar against the Swiss franc since Friday's European session and the session continued in New York.

 

Although the Eurogroup meeting had approved the bailout of the Spanish banking market confidence, but it seems difficult to recover after a surprise that Valencia would require financial support from the government, so the risk premium of Spanish debt soared to record highs again.

 

Technically a bullish intraday bias at least targeting 0.9880 area in the short term, more transparent over the area should be able to add a bullish pressure on the target medium-term target of 0.9960.

 

As for the bottom side, looked at the nearest support level 0.9850 and 0.9815 area, again fell under the area could bring the price into the neutral zone because of its direction becomes less clear in the short term, but overall as long as prices remain stuck above upsloping 0.9700 area.

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News and Review of European Economic Zone (Spain)

 

Spanish yields rose to 7.25%. Italy rose to 6.149%

Friday, 20 July 2012

 

Yields on the debt of Spain and Italy continue their move higher with the results of the Spanish 10-year yields are now higher than the June 18 closing at 7.158. This helps keep the pressure on the EURUSD with a new low for the week just being created.

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News and Review of European Economic Zone (Italy)

 

Monti Want Italia Independent

Friday, July 20, 2012

 

Italy must independently resolve the debt problem that has boosted borrowing costs of government bonds, according to Prime Minister Mario Monti. "For the sake of national honor, the pride of the people, and honor of the Italian state should be able to resolve the crisis without the help of other countries," Monti said after a cabinet meeting. "There are huge differences between the ability to solve the problem yourself or do it by asking for a bailout from Europe."

 

Monti denies savings will partially cancel the policy that has executable as falling prestige in the eyes of the people of Italy. Monti will also deny the government enacted a special property tax. Monti stressed Italy is on track to meet fiscal targets.

 

Meanwhile, the euro weakened on the New York session. EUR / USD is now trading 1.2166, 1.2283 daily high level away from

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News and Review of European Economic Zone

 

Concerns Greece, Spain again European whipping

Monday, July 23, 2012

 

Concerns over Spain and Greece again lashed equity markets in mainland Europe to push the stock market fell sharply on Monday session, led by a sharp decline in the banking sector.

 

Europe Stoxx 600 Index fell 0.9% to the observed level of 255.96. Spanish stock market is one of the worst among the players berpeforma, following fears that the country will have to ask for a full bailout.

 

IBEX 35 index fell 1.8% to a level of 6137.50, weighed down by shares of Banco Santander SA, which fell 2.1%, and BBVA SA fell 2.2%. 10-year government bond yield rose 27 basis points, Spain to 7.46%, according to electronic trading platform Tradeweb.

 

Meanwhile, Italian equity markets also fell sharply, with the FTSE MIB index fell 2.5% to the observed level of 12741.06, led by shares of UniCredit SpA decline declining 5%.

 

In the UK, the FTSE 100 index fell 1.1% to a level of 5589.13, after HSBC Holdings PLC shares fell 1.7% and Royal Dutch Shell PLC dropped 1.3%.

 

Among stocks France, Credit Agricole SA fell 4.6% and Societe Generale SA slumped 3.9%, dragging the CAC 40 index recorded a decrease of 1.6% to a level of 3142.10.

 

In Germany, the DAX 30 index fell 1.3% to a record level of 6541.26, dragged down by a decline in Deutsche Bank AG fell 3.7%.

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News and Review of European Economic Zone

 

Spanish crisis will press the European Exchange

Monday, July 23, 2012

 

European stocks trading on Monday (7/23/2012) potentially weakened by fears of Spain had failed to pay the debt.

 

In trading Friday last week, the Spanish stock exchange has fallen 6%. The condition is very hit Asian stocks in trading today. The weakening of the regional stock exchanges led Hang Seng as investors worried the Spanish are in need a bailout.

 

But the Germans tried to convince the market that Spain will be able to cope with these difficult situations. The IMF also denied it will not take steps to mentasai crisis in Spain.

 

Hang Seng Index fell 2.1%, the Shanghai index fell 1.1%, the Nikkei fell 1.8%, Straits Times index fell 08%, Kospi index fell 1.8%. Brent crude fell 1.2% to U.S.% 105 per barrel. Gold fell 0.2% to U.S. $ 1,578.

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News and Review of European Economic Zone

 

Stock Performance of European banks weaken

Monday, July 23, 2012

 

European stocks fell, pressured by a drop in the banking sector as investors worried about the euro-zone debt problems will worsen. Spanish market concerned will require additional financial assistance after the province of Valencia province of Murcia follow the trail of proposed injection of funds to meet its funding needs. Local media reported even half the regions of Spain will request financial aid from central government. Italian bank shares suspended even after drowning in the beginning of the session due to anxiety Italy will be the next victim when Spanish requires an additional bailout.

 

Government bond borrowing costs of Spain and Italy are struggling near the critical level of 7% due to fears of further transmission of the debt crisis. Sentiment also deteriorated after Prime Minister Antonis Samaras said that Greece is experiencing the greatest depression like the U.S. in the 1930s. Britain's FTSE index fell 1.57% while the German DAX and French CAC dropped respectively 1.35% and 1.66%.

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News and Review of European Economic Zone

 

In the midst of negative sentiment, positive European markets

Tuesday, July 24, 2012

 

European markets opened positive on trading today (24/7). At 08:20 pm London time, the Stoxx Europe 600 Index rose 0.2% to 252.2. Yesterday, the benchmark in this European region dropped 2.5% as concerns about the recent condition of Greece and Spain.

 

The movement of a number of stock exchanges also influence the movement of Europe. Some of them are: Swatch Group AG rose 2.8%, BP Plc rose 1%, and Faurecia SA dropped 3.6%.

 

However, the movement of Asian stocks are still overshadowed by a number of negative sentiment. For example, Moody's has just cut its debt rating outlook for Germany, the Netherlands, and Luxembourg. In addition, there is also a risk that Greece would leave Europe.

 

"Looking at recent developments in the euro zone, where a growing number of predictions that the state will file a bailout, not surprisingly, end up in the end Germany's debt rating is questionable," said Jonathan Sudaria, dealer Capital Spreads in London.

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News and review European Economic Zone (Germany)

 

Germany Purchasing Manager Index figures slump

Tuesday, July 24, 2012

 

Industry in Germany are increasingly stressed the crisis that hit Europe. Figures Purchasing Managers Index (PMI) Germany in July dropped to a level of 47.3 in July, from 48.1 in the June level. This is a weakness for six consecutive months, and indicates contraction in the private sector most in Germany since June 2009.

 

Based on data from Markit, the German service sector PMI numbers down from 49.9 in June to a level of 49.7 this month. Yet economists expect the index to the health services industry in Germany this can rise to the level of 50.1.

 

While figures for the manufacturing sector PMI fell from 45.0 in June to the level of 43.3 this month. The projection of the observer, this figure could PMI edged up to 45.3 level.

 

Tim Moore, senior economist at Markit, said the index is compiled from surveys made ​​to the private sector showed German business conditions at the beginning of the second half was more severe than the conditions in the first half of 2012. "The condition is more severe, especially in the manufacturing sector where new export orders declined most sharply in the last three years," he stated.

 

Markit noted the number of new orders in manufacturing industry in Germany has decreased the most since April 2009. While the service industry only recorded a slight decline in business activity.

 

Workload borne by each worker is also reduced. It is evident from the number of new areas of work that continues to drop since last April. Even so, in general the number of jobs available in the private sector remained stable. However, for the record, the manufacturing sector recorded a decline in employment remained sizable.

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News and Review of European Economic Zone

 

Spain and Greece drowned Euro

Tuesday, July 24, 2012

 

The euro started trading this week with a drop to the lowest level of new 2-year versus the U.S. Dollar and approached the weakest position in 12-year versus the yen as mounting concern that Spain would be forced to seek an international bailout. As a result, the Spanish government bond yields surged to a record in the history of Euro. On the last Friday of finance ministers Euro bloc has agreed on the condition the disbursement of loans worth?, ¬ 100 billion for Madrid, which will be used to recapitalize the banking sector.

 

After Valencia, Murcia became the second region which reportedly is requesting financial assistance from central government. Even the local news media also showed a similar possibility for the other 6 regions.

 

"Negative news began trading this week. Mounting anxiety Europe has strengthened its risk aversion," said Camilla Sutton, chief currency analyst at Scotia Bank in Toronto. "Much of the focus was on the Spanish market is expected to require financial assistance as well."

 

Kian kelamnya Greek outlook also add a reason for investors to sell the Euro. A German media, Der Spiegel, on Sunday reported that the IMF will not take part in supplying the additional funds for Greece. Increasingly highlighted the difficulty in raising funds Athena.

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News and Review of European Economic Zone

 

European markets flat in early session

Wednesday, July 25, 2012

 

European stocks at the opening of trading on Wednesday (7/25/2012) moves horizontally tend to be positive.

 

Stoxx European index fell 0.1% to 250.26 shares rise led by Siemens and Banco Santander shares rise 1.4%. Spanish index, IBEX was up 1.2% to 6026.70. For the German index rose 0.25 to 6404.49 led sahamDaimler 3.6% increase.

 

For the CAC flat at 3077.18 levels led the shares of Arcelor Mittal SA NL rose 2.4%. For the FTSE index fell 0.2% led by BT Group shares fell 4.7% and shares of Johnson Mattey penutunan 4.06%.

 

Asian markets like Hang Seng flushed down 0.6%, the Nikkei fell 1.4%, Straits Times index was down 0.5%, China index fell 0.3%, Kospi index fell 1.3%, ASX index fell 0, 2%. For U.S. oil prices in Asia fell 0.6% to us487, 93 per barrel, Brent crude was down 0.5% to U.S. $ 102.88 per barrel.

 

Gold prices rose 0.3% to U.S. $ 1580.90 per troy ounce, silver prices rose 0.15 to 26.84 per ounce, platinum prices rose 0.1% to U.S. $ 1,388.10 per ounce. Exchange rate of EUR / USD rose 0.2% to 1.2085, USD / JPY stagnant at 78.17, EUR / JPY up 0.25 to 94.51.

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News and Review of European Economic Zone (UK)

 

UK GDP fell 0.7% in Q2

Wednesday, 25 July 2012

 

According to Ross Walker, economist at RBS: "Details of the data showed, once again, a big attraction of the construction which fell 5.2% in Q2 following a 4.9% decline in the rather q / q in Q1 (RBS forecast: -3.5% ). "

 

Q2 brought a third consecutive contraction in GDP, "a negative outturn fourth in five quarters," he explained. "In general, the weakness was more widespread and more acute than expected Several aspects of data continues to look doubtful - at least the scale of reported decline in construction output -. But, look through the statistical noise, the underlying picture looks much weaker than expected. This increases the possibility of further monetary policy easing, but we do not expect any action before November (when the time of purchase was concluded QE).