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126
« on: April 22, 2011, 11:00:24 pm »
Swiss Franc Reaches All Time Record Versus US DollarThe Swiss franc surged to its highest level against the dollar since at least 1971, when Bloomberg records begin. The franc appreciated 0.6 percent to 88.24 per dollar as of 8:55 a.m. in London. The Swiss currency surpassed its previous 40-year peak against the greenback, reached on March 17. Source: Swiss Franc Reaches All Time Record Versus US Dollar
127
« on: April 22, 2011, 11:00:42 am »
Aussie, Kiwi Dollar Rise on Regional Economic OptimismThe Australian dollar climbed to a record after a government report showed producer prices rose more than economists estimated in the first quarter, providing additional evidence that growth is quickening. The so-called Aussie strengthened for a third day and New Zealand?s advanced for a second versus the U.S. currency as stock gains boosted demand for the nations? higher-yielding assets. New Zealand?s dollar reached a three-year high versus the greenback as traders added to bets the central bank will raise interest rates over the next 12 months. Source: Aussie, Kiwi Dollar Rise on Regional Economic Optimism
128
« on: April 22, 2011, 05:00:33 am »
Global Debt Concern Sets Gold to New HighsGold climbed to a record in London and New York for a fifth day, trading above $1,500 an ounce, as a weaker dollar and debt concerns boosted demand for the metal as an alternative investment. Silver rose to a 31-year high. The dollar slid to the lowest level since August 2008 against a basket of six major currencies. Greek two- and 10-year government bond yields reached euro-era records amid speculation the nation won?t be able to avoid restructuring its debts. Fighting in Libya and Japan?s nuclear crisis helped gold, which typically moves inversely to the greenback, to gain 6.1 percent this year. Source: Global Debt Concern Sets Gold to New Highs
129
« on: April 21, 2011, 05:03:31 pm »
European Union May Plunge in Worst Crisis Since Foundation on Excessive LoansIn May 1931, a Viennese bank named Credit-Anstalt failed. Founded by the famous Rothschild banking family in 1855, Credit-Anstalt was one of the most important financial institutions of the Austro-Hungarian Empire, and its failure came as a shock because it was considered impregnable. Source: European Union May Plunge in Worst Crisis Since Foundation on Excessive Loans
130
« on: April 21, 2011, 05:05:17 am »
Oil Climbs as Stock Markets Optimism PrevailsCrude oil surged the most in a month as climbing stocks increased optimism the economic recovery is accelerating, and the dollar tumbled, bolstering investor demand for commodities. Oil rose 2.9 percent as the Dow Jones Industrial Average advanced to the highest level since June 2008 after sales at companies from Intel Corp. to Yahoo! Inc. beat projections. The U.S. currency?s drop sent gold to a record and silver to a 31- year high. Futures extended gains after the Energy Department reported an unexpected decline in crude supplies. Source: Oil Climbs as Stock Markets Optimism Prevails
131
« on: April 20, 2011, 05:06:57 pm »
Investors Opt for U.S. Treasury Bonds Despite Debt ConcernsEven though Standard & Poor?s has threatened to downgrade the nation?s credit rating, and well-known bond managers have sold their Treasury bonds, the U.S. debt market continues to thrive ? and even rally. Despite all the pessimism, Treasury securities have ultralow yields, a sign of favor with Wall Street. And the government has plenty of buyers when it auctions more debt. Source: Investors Opt for U.S. Treasury Bonds Despite Debt Concerns
132
« on: April 19, 2011, 05:00:27 pm »
Euro Falls as Greece, Portugal Affect Market SentimentThe euro fell for a second day, stocks retreated, and oil snapped a three-day gain on concern the European sovereign debt crisis is worsening amid increased efforts to cool inflation globally. The New Zealand dollar weakened the most in four weeks against its U.S. counterpart. Source: Euro Falls as Greece, Portugal Affect Market Sentiment
133
« on: April 19, 2011, 11:00:16 am »
Poland Should Not Rise Bank Rates in MayPoland?s central bank would make ?a serious mistake? if it raises interest rates in May because the move would needlessly stifle growth with inflation set to slow later this year, rate setter Adam Glapinski said. Source: Poland Should Not Rise Bank Rates in May
134
« on: April 18, 2011, 11:02:56 pm »
Swiss Franc, Euro Drops on Finnish Elections OutcomeSwitzerland?s currency declined versus 10 of its 16 most- actively traded peers, sliding most against the Japanese yen. Finland?s Justice Ministry said support for the True Finns, whose leader Timo Soini says taxpayers shouldn?t have helped rescue Greece or Ireland, jumped almost 15 points to 19 percent in elections yesterday. The dollar gained versus most of its major counterparts, climbing most versus New Zealand?s dollar. Source: Swiss Franc, Euro Drops on Finnish Elections Outcome
135
« on: April 18, 2011, 11:04:36 am »
Oil Down as Supply is Widely AvailableOil declined for the first time in four days in New York after Saudi Arabia, the world?s biggest exporter, said the global market has adequate crude supplies. Futures slipped as much as 1 percent after Saudi Arabia?s Oil Minister Ali al-Naimi said yesterday the ?market is oversupplied.? Crude fell 2.8 percent last week on speculation price gains spurred by conflicts in the Middle East will curb economic expansion. The world economy is being hurt by ?very high? oil prices, said Nobuo Tanaka, the International Energy Agency?s executive director. Source: Oil Down as Supply is Widely Available
136
« on: April 16, 2011, 11:00:34 pm »
Crude Oil Up on the US After Report Shows Fuel Stocks DecreaseU.S. crude futures rose more than $1 and Brent crude extended its rise to more than $2 on Wednesday in choppy trading after a government report showed gasoline stocks in the United States fell more than expected. Source: Crude Oil Up on the US After Report Shows Fuel Stocks Decrease
137
« on: April 16, 2011, 11:00:50 am »
Dollar Still Down on Inflation, ECB Rate IncreaseThe dollar remains under pressure with inflationary pressures and thus the reaction function of central banks the key driver. More on Currencies Yen Falls as Risk Appetite ReboundsGold vs. USD: Getting TechnicalEUR/GBP: Upside on a String The euro traded back above 1.45 after reaching a new 15-month high Tuesday, while sterling continues to trade sideways with odds of a rate hike in May falling to 1-in-6 after Tuesday's sharp drop in inflation. The rates market, however, still remains constructive of a June hike. Source: Dollar Still Down on Inflation, ECB Rate Increase
138
« on: April 16, 2011, 05:00:06 am »
Loonie Climbs Before Bank of Canada StatementThe Canadian dollar was slightly firmer against the U.S. dollar on Wednesday morning, while government bonds were lower as risk sentiment reversed from Tuesday and ahead of detailed economic projections from the Bank of Canada. Overall, Wednesday was mostly a mirror image of Tuesday, reflecting investors' current tendency to be risk-on one day and risk-off the next. Source: Loonie Climbs Before Bank of Canada Statement
139
« on: April 15, 2011, 05:02:06 pm »
Emerging-Market Stocks on Inflation, Market SentimentEmerging-market stocks fell, while currencies strengthened, as speculation increased that central banks will boost interest rates to fight inflation. The MSCI Emerging Markets Index slipped 0.3 percent to 1,182 at 11:31 a.m. in London, with three stocks declining for every two that rose. China?s Shanghai Composite Index dropped 0.3 percent before government reports tomorrow that may show economic growth slowed and inflation accelerated. Poland?s zloty strengthened 0.4 percent against the euro after a report yesterday showed inflation reached a two-year high. Source: Emerging-Market Stocks on Inflation, Market Sentiment
140
« on: April 15, 2011, 11:01:35 am »
Euro Forecast: Currency to Fall as Economists Suggest it May be OvervaluedThe euro may fall below $1.40 after recent gains made it close to 20 percent overvalued in terms of purchasing power, according to Mizuho Corporate Bank Ltd. The CHART OF THE DAY shows how much euro-dollar exchange rates have deviated from purchasing power parity, a measure of the cost of goods relative to other countries, in the past 10 years. The euro reached $1.4520 on April 12, the highest since Jan. 14 last year and widening the difference from purchasing power to about 18 percent. Source: Euro Forecast: Currency to Fall as Economists Suggest it May be Overvalued
141
« on: April 14, 2011, 11:06:19 pm »
Singapore's Dollar Rises While Government Tightens Monetary PolicySingapore said Thursday that it is tightening its monetary policy, with economic growth and inflation both expected approach the top of targeted ranges in 2011. The move came as the government announced a rapid acceleration in economic growth for the January-through-March quarter. Singapore?s economy grew 23.5% at a quarter-on-quarter annualized rate in the first quarter of 2011, according to the country?s Ministry of Trade and Industry. In the fourth quarter of 2010, the economy grew by 8.8%. Source: Singapore's Dollar Rises While Government Tightens Monetary Policy
142
« on: April 14, 2011, 11:04:54 am »
Oil Gains as Philadelphia Refinery Unit Shut After FireOil climbed in New York as a fire shut a unit at a Philadelphia refinery and a government report showed U.S. gasoline supplies plunged the most in 12 years. Futures rose as much as 0.8 percent after Sunoco Inc. said it closed a fluid catalytic cracker in the Girard Point section of its refinery after a ?small? fire. Gasoline supplies dropped 7 million barrels to 209.7 million last week, an Energy Department report showed yesterday. Stockpiles of the fuel have slipped 31.4 million barrels in the past eight weeks. Source: Oil Gains as Philadelphia Refinery Unit Shut After Fire
143
« on: April 14, 2011, 05:00:35 am »
Gold Forecasters Expect Ounce at $1,600 in 2011Gold will rise as much as 13 percent this year to a record $1,600 an ounce, extending a rally that began in 2001, as investors boost demand for the metal as an inflation hedge, said researcher GFMS Ltd. Prices in New York touched an all-time high of $1,478 on April 11 amid speculation that governments will keep borrowing costs near record lows to revive economic growth, increasing the risk of accelerated costs for consumers. Total gold demand rose 0.4 percent to 4,334 metric tons in 2010, the third straight gain, according to an annual report from GFMS. Source: Gold Forecasters Expect Ounce at $1,600 in 2011
144
« on: April 13, 2011, 05:08:30 pm »
Pimco Invests Heavily on China Stocks Expecting Further GrowthPacific Investment Management Co., manager of the world?s largest mutual fund, is buying Chinese stocks on the prospect for earnings growth as monetary tightening eases. The emerging-market equity fund has a ?large overweight in China,? where financial and property stocks are attractive and Pimco has a ?favorable view of the yuan,? said Maria Gordon, who was hired last year to manage the fund. An underweight rating in Brazil reflects ?better value elsewhere,? and some shares in India and Turkey are ?likely to become cheaper before they start to rise,? she said. Source: Pimco Invests Heavily on China Stocks Expecting Further Growth
145
« on: April 13, 2011, 05:00:33 am »
Yen, Swiss franc Gain on Japanese Nuclear TensionThe U.S. dollar lost ground and the Swiss franc and the Japanese yen advanced Tuesday, as investors sought currencies perceived as safer after the Japanese government raised its assessment of the crisis at the Fukushima Daiichi nuclear plant to the same level as the 1986 Chernobyl disaster. Source: Yen, Swiss franc Gain on Japanese Nuclear Tension
146
« on: April 12, 2011, 05:01:18 pm »
Canadian Dollar Drops as Benchmark Rates Remain UnchangedCanada?s dollar fell to the lowest level against its U.S. counterpart in almost a week after the Bank of Canada kept interest rates unchanged and concern that currency strength is hampering exports. The loonie, as the currency is nicknamed, weakened from almost a 40-month high against the greenback as the BOC held its target rate for overnight loans between commercial banks at 1 percent, where it has been since September. Today?s decision was forecast by all 28 economists surveyed by Bloomberg News. Central bankers said currency appreciation ?could create even greater headwinds? for the economy. Source: Canadian Dollar Drops as Benchmark Rates Remain Unchanged
147
« on: April 12, 2011, 11:01:07 am »
Gold, Silver Have Rally Halted as Energy Commodities DeclinedGold tumbled the most in four weeks after a drop in energy costs reduced demand for the precious metal as a hedge against inflation. Silver also fell. Crude-oil futures in New York has plunged almost 6 percent in two days after the International Monetary Fund cut growth estimates for Japan and the U.S. Gold rose to a record of $1,478 an ounce yesterday as tensions in Libya, Japan?s nuclear crisis and concern that Europe?s debt crisis will spread boosted demand for an investment haven. Source: Gold, Silver Have Rally Halted as Energy Commodities Declined
148
« on: April 11, 2011, 11:04:35 pm »
Economists Opinion: Dollar to Drop on Forex MarketsThe most-accurate currency strategists see no recovery for the dollar in coming months as the Federal Reserve delays raising interest rates after the end of its $600 billion asset-purchase program in June. Wells Fargo & Co., the top forecaster for the second straight quarter, and No. 2 St. George Bank Ltd., say America?s currency will be little changed through June as the Fed lags behind central banks boosting rates. Schneider Foreign Exchange Ltd., Societe Generale SA and Bank of Nova Scotia, the next three analysts during the six quarters ended March 31 as measured in data compiled by Bloomberg, say the dollar will keep falling after its weakest start to a year since 2008. Source: Economists Opinion: Dollar to Drop on Forex Markets
149
« on: April 11, 2011, 05:04:05 pm »
Metals Continue Uptrend in London, Led by Copper-- Copper jumped $45, or 0.5 percent, to $9,920 a metric ton by 7:57 a.m. on the London Metal Exchange. Relative Strength Index 62. -- Aluminum rose 0.2 percent to $2,717.50 a ton. RSI 68. -- Zinc was unchanged at $2,534 a ton. RSI 64. -- Lead advanced 1.6 percent to $2,896 a ton. RSI 70. -- Nickel was up 0.6 percent at $27,770 a ton. RSI 57. -- Tin rose 1.2 percent to $33,450 a ton. RSI 72. Source: Metals Continue Uptrend in London, Led by Copper
150
« on: April 11, 2011, 11:01:19 am »
Gold and Silver Race to New Record Highs on InflationGold climbed to a record and silver topped $41 an ounce, gaining for a ninth straight day in the best run since March 2008, as investors sought precious metals as hedges against accelerating inflation. Immediate-delivery bullion gained as much as 0.2 percent to $1,478.18 an ounce and traded at $1,473.72 at 3:18 p.m. in Singapore. Gold for June in New York climbed as much as 0.3 percent to $1,478 an ounce, also an all-time high. Cash silver advanced as much as 2.5 percent to $41.9525 an ounce, the highest level since 1980, before trading at $41.5525 an ounce. Source: Gold and Silver Race to New Record Highs on Inflation
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