Fundamental Analisis By InstaForex

[IFX Darika]

Dollar Mixed Versus Majors Amid Increased Risk Aversion

The dollar was mixed Monday morning in New York after the White House rejected the General Motors' and Chrysler's turnaround plans, raising fears that two of the auto industry's biggest players are headed for bankruptcy.

US stocks futures dropped like a stone Monday morning, and markets in Asia and Europe were a sea of red arrows, fueling increased risk aversion. This gave the dollar a bit of lift versus the euro and sterling, but the buck weakened against the yen as economic data signaled some light on the horizon for the Japanese economy.

While there are no major economic reports due to be released on Monday, there are several key reports that will be released over the course of the week, including the Labor Department's closely watched monthly employment report on Friday.

The dollar fell sharply against the yen Monday morning, once again failing to crack the elusive 100 mark. The dollar dropped to 96 yen, down from Friday's level above 98. Earlier in the month, the down hit a 4-month peak of 99.70.

Industrial output in Japan plummeted by 9.4 percent in February compared to the previous month, the Ministry of Economy, Trade and Industry said on Monday, falling for the fifth straight month and marking the third-largest fall on record.

However, Japanese companies' forecast for industrial output is up 2.9 percent in March and up 3.1 percent in April.

The dollar was able to grind out gains versus the euro Monday morning, rising to a week and a half high of 1.3160. Against the sterling, the dollar rose to 1.4110, having improved from a multi-week low of 1.4777 over the past few sessions.

Eurozone economic sentiment declined further in March, but more slowly than in the first two months of 2009, a monthly survey carried out by European Commission showed Monday.

The economic sentiment index declined to 64.6 in March from 65.3 in February. Economists were expecting a reading of 65.8. The indicator stood at its lowest levels since the series began in January 1985.

Meanwhile, the average price for a home in England and Wales plummeted by a record 10.3 percent on year in March, property industry group Hometrack said on Monday, following a 10.0 percent fall in February.

The average selling price was 156,100 pounds in March, marking the largest decline since the group started tracking home prices in 2000.

For comments and feedback: contact [email protected]

Copyright(c) 2009 RTTNews.com, Inc. All Rights Reserved

News are provided by InstaForex in partnership with RTT.

 

[IFX Svetlana]

Singapore dollar bounces back against majors.

(RTTNews) - The Singapore dollar reversed its Wednesday's early Asian session downtrend against other major currencies. The Singapore currency thus climbed from a 2-week low against its US and Hong Kong counterparts and a 6-day low versus the British pound.

The Singapore dollar rebounded against the US dollar after falling to a 2-week low of 1.5259 during Wednesday's early Asian trading. The Singapore currency rose to 1.5208 against the buck by about 10:00 pm ET, but has lot a few pips thereafter. The pair that closed Tuesday's deals at 1.5229 is now worth 1.5225.

The Singapore dollar gained ground after hitting a 6-day low of 2.1874 against the British pound during Wednesday's early Asian deals. At 10:35 pm ET, the Singapore currency reached a high of 2.1738 against the pound, compared to Tuesday's closing value of 2.1814. The pair is currently quoted at 2.1760 with 2.14 seen as the next target level.

The Singapore dollar that closed Tuesday's North American session at 2.0180 against the European currency reached a high of 2.0072 at 9:00 pm ET. On the upside, 1.998 is seen as the next target level for the Singapore currency. The pair is currently quoted at 2.0107.

The Singapore dollar advanced against the Hong Kong dollar after slipping to a 2-week low of 5.0798 at 8:40 pm ET Tuesday.

Currently, the pair is worth 5.0960, compared to yesterday's North American session close of 5.0893. If the Singapore dollar climbs further, it may find near term resistance around the 5.103 level.

Traders now look forward to the German retail sales and the euro-zone jobless rate-both for February and the manufacturing PMI reports from major European economies for March in the upcoming session.

Across the Atlantic, the ADP National Employment report, which sheds light on non-farm private employment, is scheduled to be released at 8:15 AM ET.

The results of the manufacturing survey of the Institute for Supply Management are due out at 10 AM ET. Economists expect the index to show a reading of 36 for March.

The Commerce Department's construction spending report to be released at 10 AM ET is expected to show a 1.6% decline in spending for February.

Data on Pending Home Sales, which is a leading indicator of housing market activity released by the National Association of Realtors, is due out at 10 AM ET. The index is likely to show a 2% decline for February.

The Data on Pending Home Sales, which is a leading indicator of housing market activity released by the National Association of Realtors, is due out at 10 AM ET.Data on Pending Home Sales, which is a leading indicator of housing market activity released by the National Association of Realtors, is due out at 10 AM ET.

The Energy Information Administration is scheduled to release its weekly petroleum inventory report at 10:30 AM ET.

For comments and feedback: contact [email protected]
Copyright(c) 2009 RTTNews.com, Inc. All Rights Reserved

News are provided by InstaForex in partnership with RTT.

 

[BizClub]

weii awek rusia..jom pi tengok wayang esok...

 

[nazli79]

weii awek rusia..jom pi tengok wayang esok...

dah book tiket belum...... dah full book la bro... mamat drift semua dah sapu tiket....

 

[BizClub]

dah book tiket belum...... dah full book la bro... mamat drift semua dah sapu tiket....

tak per sempat lagi...awek rusia punya pasal..mix nite pon tak pe

 

[nazli79]

dorang punya marketing officer x cun ehhh....

 

[IFX Darika]

Europe Roundup - Eurozone Inflation At Record Low; German Unemployment Rises

Eurozone annual inflation slowed more than expected in March, adding to concerns of possible deflation and giving room for the central bank to cut rates further. German unemployment increased in March on declining economic activity. Forecasts issued by the Organization for Economic Co-operation and Development, or OECD, and the World Bank revealed a bleak picture of the global economy in 2009, reflecting the rapid deterioration of global financial and economic conditions.

In its interim economic outlook, the OECD forecast the world economy to contract 2.7% in 2009. At the same time, the World Bank lowered its projection to 1.7% decline from just 0.9% contraction predicted initially.

Eurozone

According to a flash estimate from the Eurostat, Eurozone annual inflation halved to 0.6% in March from 1.2% in February. Inflation has slowed to its lowest level since the launch of euro ten years ago. Economists had expected annual inflation to ease to 0.7% in March.

A report from the Federal Labor Agency showed that seasonally adjusted unemployed persons in the largest Eurozone economy rose 69,000 in March, bigger than 50,000 increase in February. Economists had expected a relatively small increase of 52,000.

Meanwhile, the adjusted jobless rate rose to 8.1%, while economists had forecast the rate to remain at February's revised 8%. On an unadjusted basis, the unemployment rate came in at 8.6%, slightly bigger than 8.5% seen in February.

A report from the Centre for Economic Policy Research, or CEPR, showed that the Eurozone fell into recession since the beginning of 2008.

Germany's Federal Statistical Office said in a report that the ILO jobless rate stood at 7.4% in February, up from 7.3% in January. The agency also reported that wholesale trade turnover in real terms dropped 12.2% year-over-year in February, after falling 11.1% in the previous month. Official data showed that French housing starts dropped 22.1% year-on-year in the three months to February. This comes after a 20.2% fall in the three months to January.

The French public debt increased EUR 42.9 billion to EUR 1327.1 billion in the fourth quarter, a report from the statistical office INSEE showed. A year ago, general government debt according to the Maastricht definition was EUR 1208.8 billion.

Retail sales in Spain dropped 11.7% year-on-year in February, faster than a 6.2% fall in January, the statistical office INE said. Economists expected a decline of 6.5%.

The Bank of Spain said in a report that the current account deficit decreased to EUR 6.58 billion in January from EUR 12.03 billion in the same month last year.

The Italian statistical office ISTAT said retail sales rose 0.7% year-on-year in January, while economists anticipated 2% fall. The office also reported that consumer price index including tobacco rose 1.2% year-over-year in March, slower than the 1.6% increase in the previous month. The March inflation came in line with economists' expectations.

The Statistical Office of the Republic of Slovenia announced that the consumer price index or CPI rose 1.8% year-over-year in March, slower than the 2.1% rise recorded in the previous month.

Statistics Portugal announced that the retail trade turnover at constant prices dropped 4.8% year-over-year in February, compared with a 0.1% fall in the previous month. Industrial production dropped 13.7% year-over-year in February, after falling 16.6% in January.

Rest of Europe

UK's service sector output fell 1.3% in the three months to January following a fall of 0.8% in the three months to December, the Office for National Statistics said. This is the seventh consecutive three months on previous three months decrease.

Consumer confidence was higher for the second consecutive month in Great Britain, data consolidator GfK NOP said, suggesting that measures to end the recession are starting to take hold. The consumer confidence index came in at minus 30 versus analyst expectations for a score of minus 37 following the minus 35 reading in February.

The Swiss UBS consumption indicator dropped to 0.89 in February from 0.92 last month, the UBS said. The indicator thus continued its downward trend and remained below its long-term average of 1.5 for the fifth consecutive month.

Switzerland's current account surplus totaled CHF12 billion in the fourth quarter, down from a surplus of CHF16.7 billion in the third quarter, a report by the Swiss National Bank said.

Industrial production in Estonia plunged a working day adjusted 30.3% year-on-year in February, compared to a 26.8% drop in the previous month, a report by Statistics Estonia said. The agency also reported that retail sales at constant prices fell a record 18% in February compared with the previous year. The latest decline dwarfed the 10% fall witnessed in the previous month. Further, Estonia's general government budget's deficit stood at 3% of GDP in 2008.

The Estonian economy is expected to contract 8.5% this year, the Finance Ministry reported Tuesday. This was much weaker than the 3.5% decline estimated earlier.

Statistics Denmark revealed in a latest report that the nation's Gross Domestic Product or GDP fell a seasonally and price adjusted 1.9% sequentially in the fourth quarter, revised from a 2% fall reported initially. Economists were looking for a decline of 2%. In the third quarter, the GDP was down 0.4%.

Turkish GDP at constant prices fell 6.2% year-on-year in the fourth quarter, reversing from a revised 1.2% rise in the third quarter. Economists expected GDP to fall 5.4% in the fourth quarter.

The Swedish economy will decline 3.9% this year, which would be followed by a meager 0.9% growth in 2010, the National Institute of Economic Research or NIER said. Further stimulus to demand with both monetary and fiscal policy is required to dampen the effects of the severe economic contraction, the think tank noted.

The NIER also said the consumer confidence indicator dropped to minus 16.5 in March from minus 14.6 in the previous month. Economists expected the indicator to come in at minus 13.8.

Statistics Norway showed that the twelve-month growth in the C2 credit indicator slowed to 9.4% at the end of February from 9.9% at the end of January. The C2 indicator's growth in February was in line with economists' expectations.

Hungary's current account showed a deficit of EUR2.5 billion in the fourth quarter, narrowing from a deficit of EUR2.6 billion in the third quarter, a report by the Magyar Nemzeti Bank said.

The Czech National Bank announced that the M2 money supply grew 8.5% year-on-year in February, slower than an 8.6% rise in the previous month.

Statistics Iceland said that the trade surplus stood at ISK 6.29 billion in the January to February period, compared to a deficit of ISK 35.96 billion in the corresponding period of the previous year.

Georgia's GDP at market prices declined 2.5% year-on-year in the fourth quarter, compared to a 3.9% fall in the previous quarter, a report by Statistics Georgia said.

Statistics Lithuania revised the fall in the gross domestic product for the fourth quarter to 2.2% year-on-year from 2% reported initially. In the third quarter, the GDP rose 2.9%.

The Statistical Office of the Republic of Serbia announced that the GDP rose 5.4% annually in 2008, revised from 6.1% reported initially. The agency also said that the retail price index increased 9.9% year-over-year in March, slower than the 10.7% increase in the previous month. Further, industrial production dropped 19.7% year-over-year in February, after falling 17.1% in January.

Croatia's Central Bureau of Statistics announced that the industrial production declined 7.5% year-over-year in February, after falling 6.8% in January.

Romania's central bank kept its key interest rate unchanged at 10% per annum. The decision was in line with economists' expectations.

For comments and feedback: contact [email protected]

Copyright(c) 2009 RTTNews.com, Inc. All Rights Reserved

News are provided by InstaForex in partnership with RTT.

 

[IFX Darika]

Asia Roundup: Japanese Govt. Planning Further Stimulus Measures

Monday, Japan's Finance Minister Kaoru Yosano told reporters after meeting with Prime Minister Taro Aso that the government intends to compile a new stimulus package worth 2% or more of gross domestic product. Accordingly, new fiscal spending would exceed 10 trillion yen. Details of the third package are likely to be finalized by April 10.

Elsewhere, a report from Japan's Economic and Social Research Institute showed that the leading index decreased to 75.2 in February from 77.2 in the previous month. Economists expected the indicator to come in at 75.3. At the same time, the coincident index declined to 86.8 from 89.5 in January.

Taiwan's consumer price index, or CPI, declined for the second consecutive month in March with a 0.15% year-on-year fall, the Directorate General of Budget, Accounting and Statistics said. Economists had expected a 0.6% fall for March following a revised 1.33% decline in February.

On a monthly basis, the CPI climbed 0.11% in March, while the core CPI rose 0.81% year-on-year. For the first quarter, consumer prices fell 0.01% annually.

Further, the wholesale price index, or WPI, fell 0.12% month-on-month and 9.20% annually in March. In the first quarter, the WPI dropped 9.77% compared with the same period of the previous year, of which the import and export price index declined 11.64% and 6.64%, respectively.

Producer prices in the Philippines rose 2.7% year-on-year in February, slowing from a revised 3.3% increase in the previous month, the National Statistics Office said. Month-on-month, producer prices fell 0.1% in February, compared to a revised 2.5% decline in January, mainly due to prices falling in seven of the major sectors.

In other news, the Reserve Bank of India governor Duvvuri Subbarao said in a business conference that the country's fiscal year 2010 current account deficit is expected to widen.

For comments and feedback: contact [email protected]

Copyright(c) 2009 RTTNews.com, Inc. All Rights Reserved

News are provided by InstaForex in partnership with RTT.

 

[IFX Svetlana]

Singapore Dollar Shows Mixed Trading Against Majors.

(RTTNews) - Thursday in Asia, the Singapore dollar showed mixed trading against its major counterparts. While the Singapore dollar rose against the US and Hong Kong dollars, it pared recent gains against the euro and the pound.

In economic news, consumer prices in Singapore rose 1.6% year-on-year in March, slowing from a 1.9% increase in February, the Department of Statistics said today. However, the rise in consumer prices matched economists' expectations.

Month-on-month, consumer prices fell 0.4% in March, following a 0.5% drop in the previous month. On a seasonally adjusted basis, consumer prices were flat in March compared to the preceding month.

The Singapore dollar climbed to 1.5047 against the U.S. currency during Asian deals on Thursday. The near term resistance level for the Singapore dollar is seen at 1.497. The pair was worth 1.5073 at yesterday's close.

In Asian trading on Thursday, the Singapore dollar gained against the Hong Kong currency. At about 1:30 am ET, the pair reached 5.1504, up from Wednesday's close of 5.1416. If the Singapore dollar edges up further, it may test near term resistance around the 5.178 level.

The Singapore dollar weakened against the euro after hitting a high of 1.9557 at 10:20 pm ET Wednesday. Currently, the pair is trading near yesterday's New York session close of 1.9604 with 1.97 seen as the next target level.

The Singapore dollar strengthened to 2.1762 against the pound at 9:35 pm ET Wednesday. Thereafter, the Singapore dollar reversed its direction and the pair is presently quoted at 2.1967. The next downside target level for the Singapore currency is seen at 2.212.

Investors now look forward to the European session, in which the French April business confidence indicator, Euro-zone February current account and industrial new orders, PMI reports from major European economies are expected.

Meanwhile, Hong Kong will announce consumer price numbers for March at 4:30 am ET, with forecasts calling for an increase of 1.2 percent on year - up from the 0.8 percent annual expansion in February.

Across the Atlantic, the US existing home sales for March and the weekly jobless claims report have been slated for release.

For comments and feedback: contact [email protected]
Copyright(c) 2009 RTTNews.com, Inc. All Rights Reserved

News are provided by InstaForex in partnership with RTT.

 

[IFX Darika]

Dollar Mixed Versus Majors As Earnings Results Pour In

The dollar was mixed versus other major currencies Wednesday morning in New York, holding most of its recent gains versus the euro while coming under modest pressure against the yen. With little first-tier economic data for traders to consider, attention will turn to how equities markets behave amid the release of another flurry of key corporate earnings results.

Boeing, AT&T, Wells Fargo and McDonalds are just out with quarterly earnings. US stock futures continued to point to a lackluster open as traders weighed those results.

In news from the housing sector, mortgage applications in the U.S. rose last week as lower interest rates encouraged refinancing. The Mortgage Bankers Association's index of applications rose 5.3 percent to 1,172.2 in the week ended April 17, from 1,113.2 the week before.

On Tuesday, Treasury Secretary Tim Geithner said that the "vast majority" of U.S. banks have enough capital and hinted that the credit markets may be thawing following their deep freeze.

Geithner will again take center stage this morning, speaking about the recession at 9 am ET.

The dollar was range-bound versus the euro Wednesday morning, clinging to its gains from a recent run-up. The buck hovered between 1.2900 and 1.3000 in early dealing, moving to the lower end of that range approaching 8 am ET. On Monday, the dollar hit a monthly high of 1.2887.

Meanwhile, the dollar was weaker against the sterling this morning as traders reacted to the release of the minutes of the latest Bank of England policy meeting. The dollar slipped to 1.4650, giving back its gains from the previous session and moving back towards last week's multi-month low near 1.5000.

Wednesday, the minutes of the Monetary Policy Committee meeting of the Bank of England held on April 8 and 9 showed that policymakers voted unanimously to hold the Bank Rate at a historical low of 0.5%.

The minutes also revealed that all the nine members of the MPC stood united while deciding to continue with the initial asset purchase plan worth GBP 75 billion.

Also, the jobless rate in the UK was 6.7% for the three months to February 2009, up from revised 6.1% in the previous quarter, the Office for National Statistics said Wednesday. That was in line with economists' expectations.

The dollar eased a bit versus the yen this morning, slipping to 97.73 before finding support near Monday's 3-week low of 97.64. The buck has leveled off since hitting a 3-month high of 101.43 earlier this month.

Export-driven Japan's trade balance for fiscal 2008 suffered its first annual deficit in nearly three decades, data released Wednesday showed. The Ministry of Finance said Japanese exports plunged a record 16.4% to Y71.14 trillion during the fiscal year ended in March.

For comments and feedback: contact [email protected]

Copyright(c) 2009 RTTNews.com, Inc. All Rights Reserved

News are provided by InstaForex in partnership with RTT.