April 21st, 2010 by Benton Pena
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Today we have a day with little activity at the macro agenda. Therefore, we must be attentive to the quarterly results Boeing Co., McDonalds Corp., Wells Fargo and Morgan Stanley in the U.S.. Yesterday, Apple has shaken the market, following news that its earnings dropped figures surpassed the expectations of the investors. Among other things, finally picked up after oil reduce the oversupply that existed in the market, after European flights resume after several days of inactivity caused by the effects of volcanic ash cloud. It is important to note that 75% of the operational aircraft of the old continent had been affected.
So far, we have reported the minutes of the last meeting of the Bank of England (BoE). According to the report, the decision to keep interest rates at 0.50% was unanimous, but noted that they need a fiscal control “adjusted” to control inflation levels. For its part, the BoE said that the Eurozone recovery remains fragile and that the depreciation of the pound over stimulus plans offset the weakening economy. Similarly, the ILO unemployment rate in the UK recorded a further increase in February, to settle at 8.0%. However, the pound advanced against the dollar, after news that the Initial jobless fell three times faster than expected in the previous month. » Read more: The Loonie hit the Dollar
April 20th, 2010 by Benton Pena
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Great day in the currency market, after the battery macro data scheduled for today. So far, we knew that the unemployment rate in Greece has risen to 11.3%, 1.1% above the previous data, while the German ZEW survey surpassed the expectations of operators, is 53 points, indicating a greater reliance on economic activity by local investors. Among other things, during the Asian session, the minutes were published in the last meeting of Central Bank of Australia (RBA). According to the entity, inflation was 2.5% for 2010 and interest rates are lower than expected and confirms that economic growth will be higher in March than in February, thanks to the rally and fuel a rebound in business investment. However, not everything has been positive, the RBA said the housing market remains weak, noting fewer mortgage approvals.
On the other hand, the Consumer Price Index from United Kingdom has been above expectations in both annual rate, as in the month. Watch for possible pre-election ads in the UK, where one of the central themes will be inflationary risks and the high fiscal deficit British. After knowing the results, the cable to trade picks up right now next to the goal of 1.5400 dollars per pound. For the next few hours, the eyes will be on the decision on interest rates Bank of Canada (BoC), the testimony of the president of the U.S. Federal Reserve (FED), Ben Bernanke, oil inventories and API Consumer Confidence ABC / Washington Post U.S. » Read more: Dollar waiting for the Q earnings
April 15th, 2010 by Benton Pena
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Approaching the end of the week, the currency market offers us a more excellent trading opportunities, then we knew in the monthly report from the European Central Bank (ECB) that the current interest rates are appropriate and inflation remains moderate . As a result, the first reaction of the euro has been to depreciate against the dollar 50 pips, while at the sterling and the yen weakened 15 and 45 pips respectively. Among other things, the dollar has gained momentum against a basket of currencies, after publication of the Beige Book from the U.S. Federal Reserve (FED), where again the monetary authority again referred to a modest economic recovery, although stability depend on the labor and housing sector, central themes that have wreaked havoc on the American country.
For its part, China is not surprising we disclosed after the Gross Domestic Product in the first quarter of 2010 has exceeded expectations, as it fell by 11.9% when estimated a recovery of 11.5%. However, although the data is significantly positive, we must be attentive to the statements that might herald the Chinese government to control the risks of overheating in the economy, as well as a change in monetary policy to curb rally inflation. Remember that tomorrow starts the Summit BRIC (Brazil, Russia, India and China) in Brasilia. Among the topics to be discussed are the global financial crisis, economic recovery and development of the Yuan currency has been on the core issues after Washington press for a future revaluation. It should be noted that the group, constitutes 20% of the economy, 42% of the population, 14.6% of GDP and 12.8% of global trade, rather than data taken into account. » Read more: Loonie recorded minimum of 22 months against the Dollar
April 14th, 2010 by Benton Pena
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In the day today, all eyes were upon the sale of bonds worth 1,200 billion euros in Greece. With complete success in the placement of debt, the findings have made it clear that sales far exceeded expectations, recording an oversubscription in letters at 1 year and 6 months, with key Hellenic government’s decision to use or not the plan bailout approved by the European Commission the previous weekend. However, at the junction EUR / USD the first reaction was a correction of 55 pips, while the EUR / GBP the decreases were 40 pips.
Among other things, we learned that the Consumer Price Index (CPI) monthly and annualized in Germany. According to the Bureau of Statistics, inflation was in line with expectations, as it fell by 0.5% in the monthly rate, while the year was 1.1%. It has also been reported that the Housing Price Index UK DCLG grew annually by 7.4%, 1.2% above the previous figure but 0.2% below forecasts, while the trade balance registered a deficit of 2.1 billion pounds, reflecting the slow recovery of British foreign trade.
For the next few hours, the eyes will be on the trade balance and the price index of new homes in Canada, the Trade Balance and Consumer Confidence ABC / Washington Post U.S. and New Zealand retail sales. » Read more: Loonie approaching parity with the Dollar
April 9th, 2010 by Benton Pena
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The week is closing note the fiscal situation of central Greece. Earlier today, the president of the European Central Bank (ECB), Jean Claude Trichet, has reconfirmed that the country which will not enter the Euro Zone and not the default suspend payments, making clear the full support of the monetary authority in the country Hellene. It is clear that the fall of Greece would question the economic sustainability of its other members, so, Trichet’s words have given a respite to the euro and equity markets.
The key is to know that in yesterday’s Greek Finance Minister Giorgos Papaconstantinou said that the country will continue to issue debt despite the high rates of government bonds in that country in the markets. At the conference yesterday, the Greek bond yields reached 7.32%, its highest ever since the adoption of the euro by Greece in 2001, because of lingering concerns about the ability of this country to pay its huge debt . » Read more: Euro rebounded after comments from Trichet
April 8th, 2010 by Benton Pena
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At the conference today, the eyes will be on three key activities, the Initial jobless in the U.S., that will give us an overview of American labor sector, and decisions on interest rates European Central Bank (ECB) and Bank of England (BoE). Although taken for granted that the ECB will not increase the value of money, currently at 1%, it is expected the outlook for the monetary authority on the European economy and the fiscal situation in Greece. With regard to the BoE, not expected changes in rates (0.5%) although expectant traders await an increase in the “Quantitatve Easing Program”, currently consists of 200,000 million pounds.
Importantly, the euro continued to depreciate against the greenback, bringing the annual minimum located at 1.3276, after news a possible suspension of payments by Greece, as well as the government will help Helen to the country’s major banks who have suffered losses of more than 10,000 million euros. Despite the confirmed participation of the International Monetary Fund (IMF) in the Greek rescue plan, the outlook for the member of the bloc remain bleak. » Read more: Euro loses position after Greece’s fiscal outlook
April 6th, 2010 by Benton Pena
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The Euro yield positions against the U.S. dollar at the prospect that Greece may not be able to meet the requirements of the Euro and the International Monetary Fund (IMF) to slash its high fiscal deficit. It is important to be aware of the ads that may come from the Hellenic country in the coming days due to the arrival of two members of the IMF to inspect the tax reform and tax. It is the first visit by the agency after signing the agreement between the European Commission, IMF and Greece.
Also, remember that this month Greece this month plans to launch a multimillion-dollar bond issue denominated in dollars, which will range between 5,000 million and 10,000 million, for which the country will be presented to investors across the Atlantic as an emerging economy following the decline of interest in Europe by helena debt. The manager will manage the operation after Morgan Stanley Goldman Sachs plans to place bonds Greeks among U.S. and Asian investors become frustrated by rumors of China’s rejection of Greece taking on debt. Greek debt issuance in the United States marks the first such operation carried out by Greece in nearly two years and forms part of government efforts to address the maturities of its debt by next May, amounting to about 10,000 million euros. » Read more: Canadian dollar reaches parity with the Greenback
April 5th, 2010 by Benton Pena
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The week began full of news, especially the good results in the U.S. unemployment rate last Friday, which remained stable at 9.7%, while in non-farm payrolls (Payrolls) increased by 162,000 jobs, the highest of the last three years. Furthermore, we observed that the Swiss franc has lost ground against the euro and the dollar, after rumors of a possible intervention by the Swiss National Bank (SNB) to stop the rally of the Swiss currency. Among other things, continuing political tensions between China and the United States due to the strengthening of the yuan. Repeatedly recall that U.S. President Barack Obama has asked his Chinese counterpart a softening of its currency with no response so far. For its part, the Treasury secretary, Timothy Geithner, decided early Sunday to postpone the publication of its report on exchange rate policy, which presumably certify that China manipulates its currency to keep it fixed to the dollar. Importantly, U.S. manufacturers say the yuan is overvalued by up to 40% and that this is one reason why there is the huge trade deficit.
Although the European market will be inactive in the meeting today, eyes will be across the ocean, highlighting the ISM non-manufacturing and pending home sales in the U.S.. » Read more: Euro lost positions against the Dollar
March 31st, 2010 by Benton Pena
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Completing the first quarter of 2010, we observed that the euro recovered from losses in the day yesterday following the announcement that the unemployment rate of Germany and the Consumer Price Index (CPI) for the Euro Zone have exceeded expectations. Among other things, the yen depreciated to the minimum of 8 weeks against the euro, at the prospect of a recovery in the U.S. labor sector, which would require less active and more foreign refuge high interest rate. So far, we have known that housing construction permits in Australia have recorded a contraction of 3.3% in February, while in Japan, the manufacturing PMI rebounded strongly to the 52.4 points, indicating a clear expansion of the steel industry . In New Zealand, kiwi depreciates against major majors, after business confidence weakened in March, due to uncertainties around the major world powers.
As mentioned earlier, Germany’s unemployment rate stood at 8%, when the previous data was 8.1%, while in the Eurozone, the CPI annual preliminary exceeded previous estimates, an increase of 1.5 % when the expected figure was 1.1%. » Read more: Euro recovers losses against the dollar
March 30th, 2010 by Benton Pena
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The demand for risky assets still on the market, increasing the feeling “bullish” between the operators, after the sale of bonds to 7 years Greece has been a success and after the prospects for employment data due on Friday in the United States reflect a recovery in the labor sector. So far, we see how the euro, sterling and the currencies of high interest rate as the Aussie and kiwi benefit of this trend, being higher still, the AUD rally, increasing the prospects of a possible rise in interest rates on 6 April. So far, we have learned that the February industrial production in Japan has been a contraction of 0.9% in China after the Lunar New Year began, weakening exports Nipponese, while in Switzerland, the Index of UBS consumption has exceeded expectations. Despite the above, the most relevant was the Gross Domestic Product (GDP) and annualized quarterly UK. According to the National Statistics Agency, the UK economy registered a contraction of 3.1% annualized rate, when the previous figure was -5.9%, while the quarterly GDP grew 0.4 %. » Read more: Great Australian dollar operation
