Mar 16
Forex News
RBA Back Maintain Interest Rates 4.75 Percent
Tuesday, 05 July 2011 06:34

Central Bank of Australia (RBA) today (3 / 5) decided to maintain interest rates at 4.75 percent level. Thus, the RBA has a record six consecutive months to maintain interest rates at that level.

The decision was in line with that anticipated by economists and market participants in advance.

In a statement accompanying the announcement of interest rates, RBA Governor Glenn Stevens said that recent inflation data showed the effects of declining production due to floods and Cyclone Yasi. Stevens added that the RBA predicts inflation will approach the target level within a year along with the reduced pressure of rising prices due to factors that are temporary.

Japan's Service Sector Activity Still Weak in June
Tuesday, 05 July 2011 06:31

For the fifth consecutive month, the Japanese private sector activity declined again in June. Japan's service sector activity index Markit Economics, released today (5 / 7) rose to 45.4 from 43.8 in May before.

The index number below 50 indicates terkontraksinya service sector in Japan.

Meanwhile, the composite output index that includes activities in both manufacturing and services sector, rose to a four-month to 47.6 in June from 46.2 in May.

The low activity of the service sector reflects a further decline in new business during the month of June. Number of employees in Japan's service sector continued to decline, although the lowest calculated rate of decline since January.

China's Private Sector Growth Slows in June
Tuesday, 05 July 2011 06:28

China's private sector growth slowed in June, as shown by survey results from Markit Economics, HSBC published today (5 / 7). HSBC composite output index in June fell from 52.8 in May to 51.6 for June.

The index number in June was recorded as yhang lowest in 27 months. Even so, the index numbers are still above 50 indicates that the Chinese private sector is still in expansionary territory (growth).

The decline in the growth of income primarily reflects the decline in manufacturing output for the first time in nearly a year. Conversely, service sector index numbers fairly solid with 54.1 in June.

Euro Strengthens Related Speculation ECB Week Three
Monday, 04 July 2011 05:44

The euro rose to its highest level three weeks against the dollar and the yen related to speculation the European Central Bank (ECB) will raise interest rates this week.

The euro gained against 13 of the 16 other major currencies after European finance ministers are authorized to loan 8.7 billion euros ($ 12.7 billion) to Greece in mid-July. Thai baht rose to a high level one week after the election victory by the allies of Prime Minister Thaksin Shinawatra. Meanwhile, the yen slipped against most other major currencies traded yag related to weak demand for the Japanese currency as a refuge.

The euro strengthened to $ 1.4556 by 9:51 am in Tokyo from $ 1.4526 in New York on July 1, after reaching $ 1.4578, its highest since June 9. The euro gained to 117.62 yen from 117.42 level. From earlier touching 117.74 yen, its highest since June 8. Yen at 80.81 per dollar from 80.83.

Greece Need Reforms To Securing Bailout
Monday, 04 July 2011 05:34

Greece is struggling this week to sell assets and reform the tax system to qualify the proposed European Union and the IMF.

Eurogroup Chairman Jean-Claude Juncker stated that Greece would lose sovereignty-related anger of the unions who opposed the austerity plan.

Juncker's comments could lead to increased anti-savings that have been roiled for months, making countries such as Greece remained trapped in the worst recession since the 1970s with the unemployment rate over 40%. percent.

On Saturday, eurozone finance ministers approved a loan of € 12 billion Greek to prevent default.

China's Service Industry Slows In June
Monday, 04 July 2011 05:30

Expansion of non-manufacturing industries or service China slowed in four months in June, raising concerns that efforts to tame inflation limits growth in the second-largest economy in the world.

China Federation of Logistics and Purchasing said on its website, the Purchasing Managers Index (PMI) fell to 57 from 61.9 in May. A reading above 50 indicates expansion. Manufacturing index fell in June to its lowest level in 28 months because of export orders and output grow more slowly. Deputy Prime Minister Wang Qishan said China, China's economic growth target for this year will be difficult to achieve. Previously, Wen inflation target of 4% this year and economic growth of 8%.

"The slowdown is the result of the tightening measures the Chinese government to control inflation," said Shen Minggao.

Non-manufacturing PMI is based on data from industries including real estate, transportation, retail, catering and software. China housing prices decreased in eight of the 10 countries the largest city in June as the government expands efforts to reduce the risk of asset bubbles in the housing market.

The Bailout Of Greece Second Half Has Started
Thursday, 30 June 2011 06:29

Financial markets heaved a sigh after Greece's Parliament passed a package of savings of $ 40 billion. A second vote on the implementation of the package set up for tomorrow and the ongoing protests in Athens could change the political calculations. But hope is now Greece will receive a $ 5 billion bailout package from the EU-IMF and avoid a default in the short-term.  

That's good news, at least as far as the market in question. European Stock markets rallied overnight as the euro rose sharply against the dollar. Dow recently up 0.6%, on track for a third successive rise-be.  

The bad news is that Greece will be able to pay his debts exceeded next month and the austerity package is likely to paralyze a struggling economy.  

"No country in the history of the modern economy has faced the level of debt similar to Greece by a ratio of debt to GDP over 150% and avoid default," said an analyst at Open Europe, based in London. "Even with the help of the second bailout and debt rollover, Greece is still likely to default within the next few years, due to the poor growth prospects and the increasingly heavy burden of debt which means it must be able to fund itself after 2014."  

Japan Prepares ¥ 230 Billion To Help the nuclear Crisis
Tuesday, 28 June 2011 05:34

Government of Japan is considering about 230 billion yen ($ 2.8 billion) to provide assistance to the Tokyo Electric Power Co. and the monitoring of the radiation in the supplementary budget planned.

PRIME MINISTER Naoto Kan has not released details of an additional ¥ 2 trillion budget that would require parliamentary approval. Officials will implement a ¥ 1.8 trillion tax revenue left over from the last fiscal year to help fund the package.

A budget will be devoted to the nuclear crisis, still unresolved for more than three months after the earthquake and tsunami hit Japan as well as the destruction of Tokyo Electric Fukushima Dai-Ichi, reactor North of Tokyo.

This month's Cabinet passed a law to create a public entity to help companies, known as Tepco, pay reparations to the nuclear crisis worst since Chernobyl. The budget would set aside ¥ 1.2 trillion to help with compensation for the damage caused by nuclear reactor catastrophe Dai-Ichi.

The IMF Is Expected To Choose The Next Leader Lagarde
Tuesday, 28 June 2011 05:28

French Finance Minister Christine Lagarde, is expected to be selected early on Tuesday became the new leader of the International Monetary Fund (IMF).

Lagarde will become the first woman to lead the IMF. He will replace Dominique Strauss-Kahn, who resigned last month after being arrested on charges of sexual abuse at the hotel New York City. Lagarde was challenged by Agustin Carstens, an official of the central bank of Mexico.

Lagarde has broad support in Europe. And high officials of China said on Monday that Beijing supports Lagarde

Meanwhile, US officials still neutral. But most analysts expect the Obama administration's support for Lagarde. The combined voices of the u.s., Europe and China holds the majority of the votes at the IMF.

Related Slipping Euro Bailout Delay Greece Until July
Monday, 20 June 2011 05:29

euro1.Euro weakened 0.1% to $ 1.4288 and fell for a fourth day against the yen at 11:19 am in Tokyo.

The euro zone finance ministers pledged whether Greece will get 12 billion euros in July, they were encouraged to budget cuts by Prime Minister George Papandreou, whose government faces protests savings.

"They (the Greeks) have started to implement austerity measures but the more difficult considering the social unrest and political instability they face," said Nick Maroutsos, a portfolio manager and founder of Capital Kapstream.

The euro weakened against 11 of the 16 currencies most actively traded and fell 0.1% to 114.35 yen. Papandreou kicked off three days of debate yesterday when he attempted to secure parliamentary approval of a package of 78 billion euros ($ 111 billion) of budget cuts.

Failure to Agree on Aid Payments Europe Greece
Monday, 20 June 2011 05:27

european-union-flagsEuropean governments failed to agree on the Greek loan payment to avoid default. Euro zone officials have encouraged the Greek finance minister to make legislation to cut the budget deficit and selling state assets.

Greece promised to get a € 12 billion or about $ 17.1 billion in July. Decision of the next payment and three year follow-up package that was postponed until early July, has extended the fiscal misery Greece.

Greek PM says he plans to hold a referendum at the end of the year to change the constitution with the aim of addressing the root causes of Greece's debt crisis. Papandreou headed to Brussels today to meet President Herman Van Rompuy European Union and European Commission President Jose Barroso. Greek crisis will dominate the EU summit in Brussels on June 23 to 24.

Japanese Trade Balance 474.6 Billion Deficit in May Yen
Monday, 20 June 2011 05:21

japan-export-importJapan's Finance Ministry today (20 / 6) announced that Japan posted a trade deficit of 853.7 billion yen in May. As such, it has been two consecutive months, Japan's trade balance deficit as a result of the earthquake and tsunami on 11 March.

Digit deficit in May is larger than that predicted by economists. Following a deficit of 464.8 billion yen (after revision) in April, economists estimate the deficit in May only for 710.1 billion yen.

Detailed data showed exports fell 10.3 percent, lower than the 8.4 percent drop forecast by economists. In the previous month, exports fell 12.4 percent recorded (after revision).

Inflation is likely to hurt Australian economy next month
Wednesday, 15 June 2011 07:30

Australian policy makers showed that the inflation rates are going to hurt the economy next month, along with the natural disaster that caused to rise prices, pushed the Bank will introduce new measures to help the nation to contain inflation appreciation.

Today, Mr. Glenn Stevens, the Governor or Reserve Bank of Australia, announced today that the Bank is to raise the interest rates by 25 basis points at some stage, as the inflation rates are likely to rise more than expected during the next period, pushed the nation’s currency (Aussie) to incline against the majors.

Meanwhile, the Bank decided this month to leave interest rate steady for the sixth consecutive month at the highest level of 4.75% as the Bank aims to support the economy to exit from its recession phase after the first quarter contraction.

UK Manufacturing Output Down 1.5% In April
Friday, 10 June 2011 10:34

manufakturUK manufacturing sector output in April fell 1.5 percent compared to the previous March. Figures for actual data released Office for National Statistics (ONS) is much lower than that predicted by economists. After the record increase of 0.2 percent in March, economists predict the decline is only about 0.2 percent for the month of April.

ONS reasonably significant decline was attributable to several factors such as the number of holidays and the impact of disasters including Japan.

Finance Minister Schaeuble: Coalition Supports Outstanding Bondholders Greece
Friday, 10 June 2011 10:31

wolfgangThe three ruling coalition parties in Germany support the government's position about the Greek Finance Minister Wolfgang Schaeuble said on Thursday after the filing of private investors must update their Greek bond holdings.

Schaeuble wrote to the European Central Bank, the International Monetary Fund and its eurozone partners earlier this week and proposed an exchange in which the private debt holders will exchange their Greek government bonds for new ones, giving Greece an additional seven years to resolve debt problems.

The euro fell against the dollar ...
Friday, 10 June 2011 10:09

euro v  dolar3Euro Falls, Getting Ready For Weekly Impairment Related to Increase Interest Rate Speculation Slowing

The euro fell against the dollar, heading for the first weekly decline in four weeks, amid the falling prospects for the European Central Bank will accelerate the rate hike this year.

The euro fell against 10 of the 16 currencies of anxiety-related partner in the European government debt crisis resolution will be delayed after ECB President Jean-Claude Trichet refused any bailout direct participation of both Greek. New Zealand dollar 0.6 percent from record highs after data showed China's imports rose in May. Yen rises speculation Japanese exporters took advantage of yesterday's biggest decline this month to buy the currency.

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