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151
« on: April 11, 2011, 05:00:39 am »
Pound, Gilts Rise as Possible Upcoming Interest Rate HikeU.K. 10-year government bond yields reached the highest in almost eight weeks after Bank of England policy maker Andrew Sentance signaled he voted for a half-point interest-rate rise. Two-year yields were little changed as the country prepared to sell about 11.5 billion pounds ($18 billion) of debt this week. Financial markets suggest that the Bank of England?s benchmark interest rate could climb to 2 percent next year, Sentance told Sky News yesterday. The U.K. is selling debt this week ranging from 28-day bills to 2040 bonds. The pound weakened against the dollar, retreating from near its strongest since January 2010. Source: Pound, Gilts Rise as Possible Upcoming Interest Rate Hike
152
« on: April 10, 2011, 05:03:57 pm »
Euro Suffers as Portugal Economic Health is EndangeredPortugal?s decision to seek a bailout from the European Union triggered a decline in sovereign and corporate credit-default swaps. Contracts on Portuguese debt fell 19 basis points to 534 as of 9:30 a.m. in London, after reaching a record-high 585 on April 5, according to CMA. The Markit iTraxx Crossover Index of 40 companies with mostly high-yield credit ratings dropped 4 basis points to a three-year low of 356, JPMorgan Chase & Co. prices show. Source: Euro Suffers as Portugal Economic Health is Endangered
153
« on: April 10, 2011, 11:03:28 am »
Brazil's Real Gains Despite Government Measures to Contain AdvanceBrazil?s real strengthened beyond 1.60 per dollar for the first time since August 2008 after Finance Minister Guido Mantega said long-term appreciation is ?inevitable? as he announced a tax on foreign loans to curb the rally. The real gained as much as 2 percent to 1.5817 per dollar, the strongest intraday level since Aug. 7, 2008. The currency rose 1.7 percent to 1.5863 per dollar today, the biggest daily increase since Oct. 5, 2010. Source: Brazil's Real Gains Despite Government Measures to Contain Advance
154
« on: April 10, 2011, 05:00:54 am »
Silver Leads Gains Among Metals, Gold, Tin Rise as WellCommodities rose for a seventh day to a two-year high, led by cotton and silver, on optimism about economic recovery and on a weaker dollar. Gold and tin climbed to records. The Standard & Poor?s GSCI Spot Index of 24 raw-materials futures reached 753.89 points, the highest level since Aug. 4, 2008. It was up 1.1 percent at 753.54 at 10:45 a.m. London time, for a weekly gain of 3 percent, on course for the biggest increase in five weeks. Silver for immediate delivery touched $40.235 an ounce, and cotton reached $2.124 a pound. Source: Silver Leads Gains Among Metals, Gold, Tin Rise as Well
155
« on: April 09, 2011, 05:08:26 pm »
Canadian Dollar Wins Versus US Dollar for a Third WeekCanada?s dollar headed toward its third straight weekly increase against its U.S. counterpart as crude oil, the nation?s largest export, rose above $113 a barrel for the first time since 2008. Canada?s currency pared gains after a government report showed the economy unexpectedly lost jobs for the first time in six months in March. Oil rose as a fire burned at Libya?s Sarir field, bolstering concern that unrest in the region will further reduce supply. The U.S. dollar weakened against 15 of its 16 most-traded peers. Global stocks gained. Source: Canadian Dollar Wins Versus US Dollar for a Third Week
156
« on: April 09, 2011, 11:01:24 am »
George Soros Opinion Against ECB Rate Increase due Eurozone Member DebtsBillionaire investor George Soros said the European Central Bank?s decision to raise its benchmark lending rate was ?quite inappropriate? because several euro member countries are suffering from too much debt. European Central Bank President Jean-Claude Trichet yesterday raised the benchmark interest rate to 1.25 percent from a record low of 1 percent, where it had been since May 2009. Policymakers will bring the rate to 1.5 percent in July and 1.75 percent in October, according to the median of 20 estimates in a Bloomberg News survey. Source: George Soros Opinion Against ECB Rate Increase due Eurozone Member Debts
157
« on: April 09, 2011, 05:00:58 am »
Singapore to Become Yuan Forex Trading HubThe Monetary Authority of Singapore is in talks with the People?s Bank of China on making the Southeast Asian city a hub for trading of the Chinese currency, the Wall Street Journal reported today. China?s central bank has been ?receptive? to such a move because Singapore is an international financial center with close ties to China, making it a sensible choice as the second offshore hub for the yuan after Hong Kong, the newspaper said, citing people familiar with the matter. Source: Singapore to Become Yuan Forex Trading Hub
158
« on: April 08, 2011, 05:11:10 pm »
Hedge Funds Seek Japan Trades After New QuakeHedge funds investing in Japan are scouting for opportunities after weathering the country?s worst earthquake and resulting nuclear crisis as the Bank of Japan pumped record funds into the financial system. R-SQUARED Master Fund, which benefited from investments in put options and credit default swaps before the March 11 temblor, is finding opportunities in subordinated debt. Dymon Asia, which started a macro hedge fund in 2008 with capital from Tudor Investment Corp., sees potential in the foreign exchange market after the fund returned 8 percent last month. Source: Hedge Funds Seek Japan Trades After New Quake
159
« on: April 08, 2011, 11:02:56 am »
UK Inflation Influences Pound PositivelyThe pound rose to its strongest level since January 2010 against the dollar as British data showed producer prices rose at a faster pace than economists predicted, strengthening the case for higher interest rates. Short-sterling futures dropped, while U.K. government bonds declined as gains in stocks curbed demand for the relative safety of fixed income. The cost of goods at factory gates increased 0.9 percent from February, the Office for National Statistics said today, above the 0.6 percent median prediction of 16 economists in a Bloomberg survey. Source: UK Inflation Influences Pound Positively
160
« on: April 08, 2011, 05:00:44 am »
Gold Reaches New Record High as World Financial Future is UncertainGold rose to a record in London and New York as a weaker dollar and concerns about inflation and European debt boosted demand for the metal as an alternative investment. Silver climbed above $40 an ounce to a 31-year high. The European Central Bank yesterday lifted interest rates for the first time in almost three years to quell inflation even as Portugal sought a bailout. The dollar slid to the lowest level since December 2009 against six major currencies. Gold, which typically moves inversely to the greenback, has climbed on fighting in Libya and Japan?s earthquake and tsunami last month. Source: Gold Reaches New Record High as World Financial Future is Uncertain
161
« on: April 07, 2011, 11:00:14 pm »
Gold Flirts with Record on European Economic ConcernsGold held steady near a record on Thursday ahead of an expected euro zone interest rate hike, while silver barely moved after rising to its highest in more than three decades in the previous session on lingering worries about inflation. Source: Gold Flirts with Record on European Economic Concerns
162
« on: April 06, 2011, 11:04:09 pm »
UK's Weak Industrial Production Hurts Pound in Forex MarketsThe pound weakened against the euro and erased its gain against the dollar after a report showed industrial production unexpectedly declined in February. U.K. gilts rose. Sterling weakened by 0.6 percent to 87.77 pence per euro as of 9:40 a.m. in London. It was little changed at $1.6283 after climbing to $1.6364, the strongest level since March 23. Source: UK's Weak Industrial Production Hurts Pound in Forex Markets
163
« on: April 06, 2011, 11:07:15 am »
Gold and Silver: The Endless RallyGold gained to a record for a second day in London and New York as investors bought the metal on concern interest-rate increases will curb global growth and as the dollar slumped against the euro. Silver advanced to a 31- year high. The euro rallied to a more-than 14-month high versus the greenback before the European Central Bank meets tomorrow to decide on interest rates. China raised rates yesterday for the fourth time since mid-October to restrain increasing consumer prices. Source: Gold and Silver: The Endless Rally
164
« on: April 06, 2011, 05:00:21 am »
Oil Pressured by ECB Meeting, U.S. Supplies ReportOil traded near its highest price in 30 months for a second day as the euro rallied to a 14-month peak against the dollar before the European Central Bank meets, boosting the appeal of commodities as a hedge against inflation. Futures erased earlier losses in New York as the euro appreciated against most of its 16 major counterparts. The ECB will increase its main rate by 25 basis points to 1.25 percent tomorrow, according to a Bloomberg survey of economists. An Energy Department report today may show U.S. crude stockpiles rose for a fifth week, according to a Bloomberg News survey. Source: Oil Pressured by ECB Meeting, U.S. Supplies Report
165
« on: April 05, 2011, 05:09:03 pm »
Copper Forecast: Records Expected on Possible Supply ShortageCopper rallied on expectation demand will outstrip supply, while lead gained to near the highest price in almost three years on speculation rebuilding from the Japanese earthquake disaster will spur consumption. Three-month copper on the London Metal Exchange rose as much as 1 percent to $9,424 a metric ton and was at $9,409 at 2:45 p.m. Tokyo time. The metal for May delivery in New York gained 0.6 percent to $4.28 a pound. Markets in China are closed today for a public holiday. Source: Copper Forecast: Records Expected on Possible Supply Shortage
166
« on: April 05, 2011, 11:07:11 am »
Nasdaq: Apple to Influence Less on Stock IndexExchange operator Nasdaq OMX Group Inc said on Tuesday it will rebalance its benchmark Nasdaq-100 index, cutting the weighting of Apple Inc. Once the rebalancing is effective, the projected weight of Apple will be 12.33 percent of the index compared with a current weight of 20.49 percent, Nasdaq said in a document hosted on its website. Source: Nasdaq: Apple to Influence Less on Stock Index
167
« on: April 04, 2011, 11:12:23 pm »
Euro Drops as Investors Consider Speculations OverpricedThe euro fell from 11-month highs against the yen on Monday and a five-month peak against the dollar with any gains seen muted as expectations of an increase in euro-zone interest rates this week are fully priced in. Source: Euro Drops as Investors Consider Speculations Overpriced
168
« on: April 04, 2011, 05:05:43 pm »
Gold Climbs as Oil Continues Under PressureSpot gold edged up on Monday, supported by a firm euro on expectations that the European Central Bank will raise interest rates this week and strong oil prices. Source: Gold Climbs as Oil Continues Under Pressure
169
« on: April 04, 2011, 11:00:36 am »
Pound Gains Versus Greenback as Stocks Rise Before Construction ReportThe pound rose against the majority of its most-traded peers as a report showed U.K. construction expanded at a faster pace than economists predicted last month, fueling optimism that the economic recovery is picking up. Source: Pound Gains Versus Greenback as Stocks Rise Before Construction Report
170
« on: April 04, 2011, 05:00:05 am »
Poland Interest Rates Hike is Considered to Halt InflationPoland?s central bank will probably raise interest rates at a meeting that starts today to damp inflationary expectations as consumer prices already grow faster than targeted by policy makers. The Monetary Policy Council will lift the benchmark seven- day rate by a quarter-point to 4 percent, according to 21 of 30 economists surveyed by Bloomberg. Nine expect borrowing costs to remain unchanged. The Warsaw-based central bank will announce its decision tomorrow. Source: Poland Interest Rates Hike is Considered to Halt Inflation
171
« on: April 03, 2011, 05:05:32 pm »
Brazilian Real Gains as Inflation is Central Bank PriorityBrazil?s real posted its biggest weekly gain since 2009 on speculation the government is prioritizing efforts to slow inflation over its fight against a stronger currency. Source: Brazilian Real Gains as Inflation is Central Bank Priority
172
« on: April 03, 2011, 05:00:31 am »
Yen Falls on Forex Markets as Interest Rate Hikes WIll be DelayedThe yen had the biggest weekly drop versus the dollar in more than a year as economic reports added to signs central banks in Europe and the U.S. are closer to raising interest rates as the global economy... Source: Yen Falls on Forex Markets as Interest Rate Hikes WIll be Delayed
173
« on: April 02, 2011, 05:07:35 pm »
Manufacturing Growth Remains a Problem to Pound's AttractivenessThe pound erased advances against the euro and the dollar after an index of U.K. manufacturing growth fell more than economists estimated. The British currency was little changed at 88.32 pence per euro as of 9:33 a.m. in London after strengthening as much as 0.3 percent. Against the dollar it was also little changed, at $1.6035. Source: Manufacturing Growth Remains a Problem to Pound's Attractiveness
174
« on: April 02, 2011, 11:03:12 am »
Oil, Gold, Silver Remain High as Second Quarter EndsOil closed at peaks not seen since the third quarter of 2008, while gold slipped as investors' appetite for risk grew. But U.S. Treasuries rose after New York Federal Reserve Bank President William Dudley said recovery in the economy and labor market still lagged the central bank's expectations, and interest rates were unlikely to rise so soon, as some in the market feared. Source: Oil, Gold, Silver Remain High as Second Quarter Ends
175
« on: April 01, 2011, 11:02:35 pm »
Chinese Yuan Appreciates with Other Asian Currencies ? Forex NewsThe strong economic growth of the Asian countries spurred talks about future rate increases. These talks benefited the currencies of the region, including the Chinese yuan. Source: Chinese Yuan Appreciates with Other Asian Currencies ? Forex News
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