Sun, Jun 28 2009, 10:13 GMT
http://www.djnewswires.com/eu
German Econ Minister Says Economy's Downtrend Stopped - Report FRANKFURT (Dow Jones)--The German economy's downward trend has stopped, German Economics Minister Karl-Theodor zu Guttenberg says in a preview interview in Focus magazine over the weekend. "I think we have already seen the biggest impact of the economic crash, and the bottom has now been passed for a longer time," he is quoted as saying in the magazine. It goes "still not steep upwards, but also not any more down," he is quoted as saying
Magazine Web site: http://www.focus.de -Frankfurt Bureau, Dow Jones Newswires; 49-69-29725-500. Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=NZOKLoOiijsIbDeg3M3gbQ%3D%3D. You can use this link on the day this article is published and the following day.
(END) Dow Jones Newswires
June 28, 2009 06:13 ET (10:13 GMT)
Copyright 2009 Dow Jones & Company, Inc
Market finished week in red; Dollar mixed
Sunday, June 21, 2009
Fri, Jun 19 2009, 22:07 GMT
http://www.fxstreet.com
FXstreet.com (Córdoba) – U.S. markets ended with mix results on Friday. The Dow Jones fell 0.19% but the Nasdaq rose 1.09%. Wall Street fell for the week, sending stocks indexes down between 2% and 3%. Oil had a sharp decline and finished the week below $70 a barrel, falling 2.55% on Friday. Dollar fell across the board extending losses during the American session.EUR/USD tested level above 1.4000 but failed to stay there and fell ending the week below 1.3950. The Euro was able to recover from Monday losses and finish the week near the opening price.
GBP/USD rose today and for the week. The Pound rallied reaching levels above 1.6500. Despite rising for the week the pair wasn’t able to break above multi-month highs. USD/JPY fell today, especially during the American session. The Dollar couldn’t confirm levels above 97.00 and the Yen was unable to break below intra-week lows at 95.50. Against European currencies, the Yen weakened today and fell.
http://www.fxstreet.com
FXstreet.com (Córdoba) – U.S. markets ended with mix results on Friday. The Dow Jones fell 0.19% but the Nasdaq rose 1.09%. Wall Street fell for the week, sending stocks indexes down between 2% and 3%. Oil had a sharp decline and finished the week below $70 a barrel, falling 2.55% on Friday. Dollar fell across the board extending losses during the American session.EUR/USD tested level above 1.4000 but failed to stay there and fell ending the week below 1.3950. The Euro was able to recover from Monday losses and finish the week near the opening price.
GBP/USD rose today and for the week. The Pound rallied reaching levels above 1.6500. Despite rising for the week the pair wasn’t able to break above multi-month highs. USD/JPY fell today, especially during the American session. The Dollar couldn’t confirm levels above 97.00 and the Yen was unable to break below intra-week lows at 95.50. Against European currencies, the Yen weakened today and fell.
Canada Afternoon: C$ Cedes Early Gains To End Slightly Lower
Tuesday, June 16, 2009
Tue, Jun 16 2009, 19:43 GMT
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Canada Afternoon: C$ Cedes Early Gains To End Slightly Lower TORONTO (Dow Jones)--The Canadian dollar ended slightly lower after retreating from earlier gains Tuesday, reacting to a dip in oil prices and a global recovery from initial weakness for the U.S. dollar. The U.S. dollar was trading at C$1.1342 at 3:40 p.m. EDT (1940 GMT), from C$1.1230 at 8:00 a.m. EDT (1200 GMT) and C$1.1331 late Monday. The Canadian dollar rose alongside other currencies and traded as high as the C$1.1220 area in Tuesday's early going, as the U.S. dollar was set on the defensive globally by resurgent concerns about its ability to continue as the world's dominant reserve currency. The initial strength for the Canadian currency soon began to erode however, as North American stock markets floundered, oil prices backed off below $71 per barrel, and the U.S. dollar bounced off its lows of the day. All in all, the choppy and erratic movements of the past few sessions have many currency watchers looking towards a possible hiatus of range-trading for the early summer period, given the recent inability of the U.S. dollar-Canada pair to lock into a clear directional trend. Steve Butler, director of foreign exchange at Scotia Capital in Toronto, suggested that "the market is done for the time being with selling U.S. dollars, and there's more potential for the dollar to recover a little bit," with a possible move into the C$1.1500 area against the Canadian currency.
Chief currency strategist Shaun Osborne of TD Securities said the pattern of choppy recent dealings and an apparent lack of market conviction in either direction argue for the U.S.-Canada pair to settle into a near-term range between the C$1.1200 and C$1.1400 areas, with a risk of a wider "mid-year range over the next few weeks unless there is a move - one way or the other - with much more conviction in the next week or two."
These are the exchange rates at 3:40 p.m. EDT (1940 GMT), 8:00 a.m. EDT (1200 GMT), and late Monday.
USD/CAD 1.1342 1.1230 1.1331
EUR/CAD 1.5713 1.5623 1.5617 CAD/JPY 85.16 86.31 86.34
-By Paul Evans; Dow Jones Newswires; 416-306-2022; paulr.evans@dowjones.com Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=nMZcyk2ZFp%2BAw7%2BkSZjUjQ%3D%3D. You can use this link on the day this article is published and the following day.
(END) Dow Jones Newswires
June 16, 2009 15:43 ET (19:43 GMT)
Copyright 2009 Dow Jones & Company, Inc.
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Canada Afternoon: C$ Cedes Early Gains To End Slightly Lower TORONTO (Dow Jones)--The Canadian dollar ended slightly lower after retreating from earlier gains Tuesday, reacting to a dip in oil prices and a global recovery from initial weakness for the U.S. dollar. The U.S. dollar was trading at C$1.1342 at 3:40 p.m. EDT (1940 GMT), from C$1.1230 at 8:00 a.m. EDT (1200 GMT) and C$1.1331 late Monday. The Canadian dollar rose alongside other currencies and traded as high as the C$1.1220 area in Tuesday's early going, as the U.S. dollar was set on the defensive globally by resurgent concerns about its ability to continue as the world's dominant reserve currency. The initial strength for the Canadian currency soon began to erode however, as North American stock markets floundered, oil prices backed off below $71 per barrel, and the U.S. dollar bounced off its lows of the day. All in all, the choppy and erratic movements of the past few sessions have many currency watchers looking towards a possible hiatus of range-trading for the early summer period, given the recent inability of the U.S. dollar-Canada pair to lock into a clear directional trend. Steve Butler, director of foreign exchange at Scotia Capital in Toronto, suggested that "the market is done for the time being with selling U.S. dollars, and there's more potential for the dollar to recover a little bit," with a possible move into the C$1.1500 area against the Canadian currency.
Chief currency strategist Shaun Osborne of TD Securities said the pattern of choppy recent dealings and an apparent lack of market conviction in either direction argue for the U.S.-Canada pair to settle into a near-term range between the C$1.1200 and C$1.1400 areas, with a risk of a wider "mid-year range over the next few weeks unless there is a move - one way or the other - with much more conviction in the next week or two."
These are the exchange rates at 3:40 p.m. EDT (1940 GMT), 8:00 a.m. EDT (1200 GMT), and late Monday.
USD/CAD 1.1342 1.1230 1.1331
EUR/CAD 1.5713 1.5623 1.5617 CAD/JPY 85.16 86.31 86.34
-By Paul Evans; Dow Jones Newswires; 416-306-2022; paulr.evans@dowjones.com Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=nMZcyk2ZFp%2BAw7%2BkSZjUjQ%3D%3D. You can use this link on the day this article is published and the following day.
(END) Dow Jones Newswires
June 16, 2009 15:43 ET (19:43 GMT)
Copyright 2009 Dow Jones & Company, Inc.
Forex: EUR/USD finds support at 1.3850, back to test 1.3920 resistance
Tue, Jun 16 2009, 15:27 GMT
FXstreet.com (Barcelona) - After falling around 85 pips from intra-day high at 1.3935, the EUR/USD has find support at 1.3850 level and the pair has risen above 1.3900 to test the 1.3920 resistance. Currently the pair is trading around 1.3910/20, 1.00% above today's opening price action.Lena Manousarides, analyst at SpikeCharts, comments: "The EUR/USD is trading heavily since the beginning of the week and the slide we witnessed yesterday managed to find a stop at 1.3760 a very strong support level. As long as 1.3830 keeps for today we may see a run up towards 1.40 in the coming days. The dollar does not have a clear direction for now, hence the pair’s tight ranges, therefore we need to see a clear break of either 1.40 on the upside or 1.37 on the downside before we can say that something meaningful is happening."The Currency at Glance FXstreet.com Trend Index points EUR/USD Strongly Bullish with a OB/OS Index showing Neutral
FXstreet.com (Barcelona) - After falling around 85 pips from intra-day high at 1.3935, the EUR/USD has find support at 1.3850 level and the pair has risen above 1.3900 to test the 1.3920 resistance. Currently the pair is trading around 1.3910/20, 1.00% above today's opening price action.Lena Manousarides, analyst at SpikeCharts, comments: "The EUR/USD is trading heavily since the beginning of the week and the slide we witnessed yesterday managed to find a stop at 1.3760 a very strong support level. As long as 1.3830 keeps for today we may see a run up towards 1.40 in the coming days. The dollar does not have a clear direction for now, hence the pair’s tight ranges, therefore we need to see a clear break of either 1.40 on the upside or 1.37 on the downside before we can say that something meaningful is happening."The Currency at Glance FXstreet.com Trend Index points EUR/USD Strongly Bullish with a OB/OS Index showing Neutral
Forex: USD/JPY: Dollar peaks at 97.27 and returns below 97.00
Tue, Jun 16 2009, 14:37 GMT
http://www.fxstreet.com
FXstreet.com (Barcelona) - Dollar rally from 96.06 low ahead off the European opening times, has capped at 97.27 intra-day high, and the pair has returned to levels below 97.00.
The pair stands now at 96.75 support level, and in case of further decline next support level lies at 96.55 (Jun 5 low) and 96.00/10 intra-day low.
On the upside, initial resistance comes at 97.05 (Jun 10 low), above here, next resistance comes at 97.25 intra-day high and then 98.00.
http://www.fxstreet.com
FXstreet.com (Barcelona) - Dollar rally from 96.06 low ahead off the European opening times, has capped at 97.27 intra-day high, and the pair has returned to levels below 97.00.
The pair stands now at 96.75 support level, and in case of further decline next support level lies at 96.55 (Jun 5 low) and 96.00/10 intra-day low.
On the upside, initial resistance comes at 97.05 (Jun 10 low), above here, next resistance comes at 97.25 intra-day high and then 98.00.
New Zealand Sales Jump By Most in A Year
Thursday, June 11, 2009
Thursday, 11 June 2009 23:01:30 GMT
Written by Luis Gil, DailyFX Research
New Zealand Retail Spending jumped by the most since last June, by 0.5% in April as historically-low interest rates encouraged borrowing and spending. Economist forecasts called for only a 0.2% increase in the figure. Details of the metric show that a significant portion of the unexpected result came as department store sales rose 4.0%, the largest gain in spending in this area since July.
Written by Luis Gil, DailyFX Research
New Zealand Retail Spending jumped by the most since last June, by 0.5% in April as historically-low interest rates encouraged borrowing and spending. Economist forecasts called for only a 0.2% increase in the figure. Details of the metric show that a significant portion of the unexpected result came as department store sales rose 4.0%, the largest gain in spending in this area since July.
Argentine Boden Bonds Extend Rally Amid Coupon Strip Auction
Thu, Jun 11 2009, 21:14 GMT
http://www.djnewswires.com/eu
Argentine Boden Bonds Extend Rally Amid Coupon Strip Auction Shane Romig Of DOW JONES NEWSWIRES BUENOS AIRES (Dow Jones)--Argentina's Boden bonds rallied again Thursday amid a government auction for a stripped coupon, extending a recent streak of sharp gains. The dollar-denominated Boden 2012 jumped 3.47% in price terms to ARS245.75, bringing the yield to 24.68%. The Boden saw yields climb as high as 60% in early April on fears of a possible default. But those fears have eased - in part because of some aggressive repurchases by the government itself - and bonds have rallied sharply. On Thursday, Argentina opened a two-day Dutch auction by holders of the Boden coupon strip who wish to receive payment ahead of its current scheduled date of Aug. 3.
The government will receive offers until 2 p.m. local time (GMT 17:00) on Friday, the Economy Ministry said in a press release Wednesday. However, it is unlikely that many holders of the $2.25 billion coupon strip will take advantage of the early payment option, as it is trading at a premium of about 1% in the marketplace. Analysts suggest this will make the prospects of anybody offering the government a price it would be willing to pay extremely slim. "With the move, the government intends to reiterate not only its capacity, but also its willingness to pay, and appease growing doubts about whether it would continue to service its debt after the June 28 midterm legislative elections," Goldman Sachs analyst Alberto Ramos said. "This is a positive development, as it established that the capacity to pay exists and conveys the important message that willingness to pay might not be as weak as generally perceived," he said.
The benchmark peso-denominated bond rose 0.5% in price terms to ARS60, yielding 18.78%. Meanwhile, stocks rose in line with Wall Street and higher oil prices, which boosted index heavyweights tied to the sector. Argentina's Merval Index rose 0.87% to close at 1,669.54. The peso was unchanged at 3.76 to the dollar. -By Shane Romig, Dow Jones Newswires; 54-11-4103-6738; shane.romig@dowjones.com Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=k2B7BV88GR%2B4xZrTQo8eNQ%3D%3D. You can use this link on the day this article is published and the following day
END) Dow Jones Newswires
June 11, 2009 17:14 ET (21:14 GMT)
Copyright 2009 Dow Jones & Company, Inc.
http://www.djnewswires.com/eu
Argentine Boden Bonds Extend Rally Amid Coupon Strip Auction Shane Romig Of DOW JONES NEWSWIRES BUENOS AIRES (Dow Jones)--Argentina's Boden bonds rallied again Thursday amid a government auction for a stripped coupon, extending a recent streak of sharp gains. The dollar-denominated Boden 2012 jumped 3.47% in price terms to ARS245.75, bringing the yield to 24.68%. The Boden saw yields climb as high as 60% in early April on fears of a possible default. But those fears have eased - in part because of some aggressive repurchases by the government itself - and bonds have rallied sharply. On Thursday, Argentina opened a two-day Dutch auction by holders of the Boden coupon strip who wish to receive payment ahead of its current scheduled date of Aug. 3.
The government will receive offers until 2 p.m. local time (GMT 17:00) on Friday, the Economy Ministry said in a press release Wednesday. However, it is unlikely that many holders of the $2.25 billion coupon strip will take advantage of the early payment option, as it is trading at a premium of about 1% in the marketplace. Analysts suggest this will make the prospects of anybody offering the government a price it would be willing to pay extremely slim. "With the move, the government intends to reiterate not only its capacity, but also its willingness to pay, and appease growing doubts about whether it would continue to service its debt after the June 28 midterm legislative elections," Goldman Sachs analyst Alberto Ramos said. "This is a positive development, as it established that the capacity to pay exists and conveys the important message that willingness to pay might not be as weak as generally perceived," he said.
The benchmark peso-denominated bond rose 0.5% in price terms to ARS60, yielding 18.78%. Meanwhile, stocks rose in line with Wall Street and higher oil prices, which boosted index heavyweights tied to the sector. Argentina's Merval Index rose 0.87% to close at 1,669.54. The peso was unchanged at 3.76 to the dollar. -By Shane Romig, Dow Jones Newswires; 54-11-4103-6738; shane.romig@dowjones.com Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=k2B7BV88GR%2B4xZrTQo8eNQ%3D%3D. You can use this link on the day this article is published and the following day
END) Dow Jones Newswires
June 11, 2009 17:14 ET (21:14 GMT)
Copyright 2009 Dow Jones & Company, Inc.
France 2008 Balance Of Payments Deficit EUR44 Billion Vs EUR18.9 Billion
Thu, Jun 11 2009, 22:15 GMT
http://www.djnewswires.com/eu
France 2008 Balance Of Payments Deficit EUR44 Billion Vs EUR18.9 Billion PARIS -(Dow Jones)- France's 2008 balance of payments deficit rose to EUR44 billion from EUR18.9 billion in 2007 and increased to 2.3% of gross domestic product from 1% of GDP, the Bank of France said Friday. Net foreign investments by France abroad exceeded investments in France from abroad by EUR70.4 billion, compared to EUR47.6 billion in 2007. However, investment in French securities from abroad exceeded investment by French residents in securities abroad by EUR89.4 billion, compared to a net outflow of investment in securities of EUR121 billion in 2007. The reversal of the flow is explained by a drop in the purchase of foreign debt and a rise in non-residents buying French securities, the Bank of France said.
-By A.H. Mooradian and William Horobin, Dow Jones Newswires; +33 1 4017 1740; art.mooradian@dowjones.com Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=k2B7BV88GR%2B4xZrTQo8eNQ%3D%3D. You can use this link on the day this article is published and the following day.
(END) Dow Jones Newswires
June 11, 2009 18:15 ET (22:15 GMT)
Copyright 2009 Dow Jones & Company, Inc.
http://www.djnewswires.com/eu
France 2008 Balance Of Payments Deficit EUR44 Billion Vs EUR18.9 Billion PARIS -(Dow Jones)- France's 2008 balance of payments deficit rose to EUR44 billion from EUR18.9 billion in 2007 and increased to 2.3% of gross domestic product from 1% of GDP, the Bank of France said Friday. Net foreign investments by France abroad exceeded investments in France from abroad by EUR70.4 billion, compared to EUR47.6 billion in 2007. However, investment in French securities from abroad exceeded investment by French residents in securities abroad by EUR89.4 billion, compared to a net outflow of investment in securities of EUR121 billion in 2007. The reversal of the flow is explained by a drop in the purchase of foreign debt and a rise in non-residents buying French securities, the Bank of France said.
-By A.H. Mooradian and William Horobin, Dow Jones Newswires; +33 1 4017 1740; art.mooradian@dowjones.com Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=k2B7BV88GR%2B4xZrTQo8eNQ%3D%3D. You can use this link on the day this article is published and the following day.
(END) Dow Jones Newswires
June 11, 2009 18:15 ET (22:15 GMT)
Copyright 2009 Dow Jones & Company, Inc.
"This stimulus has to be combined with a strategy which can maintain budgetary stability," Almunia said.
Monday, June 8, 2009
Mon, Jun 8 2009, 19:28 GMT
http://www.djnewswires.com/eu
ECOFIN: EU Almunia: EU Should Restore Budget Stability In 2010 LUXEMBOURG -(Dow Jones)- European Union countries should start trimming their budget deficits next year, when the bloc's economy begins to recover, European Commissioner for Economic and Monetary Affairs Joaquin Almunia said Monday. E.U. countries are focused on an "exit strategy" for the EUR200 billion fiscal stimulus plan they enacted in December, Almunia told a news conference after a meeting of euro-zone finance ministers. The E.U. recently has deflected U.S. calls to expand its fiscal stimulus plan. By contrast, the U.S. earlier this year launched a $787 billion recovery plan, following a $168 billion package in 2008.
"This stimulus has to be combined with a strategy which can maintain budgetary stability," Almunia said. -By Adam Cohen and Gabriele Parussini, Dow Jones Newswires; +322 741 1486; adam.cohen@dowjones.com Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=gEqvxRh7l2WIvWED5%2B70EQ%3D%3D. You can use this link on the day this article is published and the following day.
(END) Dow Jones Newswires
June 08, 2009 15:28 ET (19:28 GMT)
Copyright 2009 Dow Jones & Company, Inc.
http://www.djnewswires.com/eu
ECOFIN: EU Almunia: EU Should Restore Budget Stability In 2010 LUXEMBOURG -(Dow Jones)- European Union countries should start trimming their budget deficits next year, when the bloc's economy begins to recover, European Commissioner for Economic and Monetary Affairs Joaquin Almunia said Monday. E.U. countries are focused on an "exit strategy" for the EUR200 billion fiscal stimulus plan they enacted in December, Almunia told a news conference after a meeting of euro-zone finance ministers. The E.U. recently has deflected U.S. calls to expand its fiscal stimulus plan. By contrast, the U.S. earlier this year launched a $787 billion recovery plan, following a $168 billion package in 2008.
"This stimulus has to be combined with a strategy which can maintain budgetary stability," Almunia said. -By Adam Cohen and Gabriele Parussini, Dow Jones Newswires; +322 741 1486; adam.cohen@dowjones.com Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=gEqvxRh7l2WIvWED5%2B70EQ%3D%3D. You can use this link on the day this article is published and the following day.
(END) Dow Jones Newswires
June 08, 2009 15:28 ET (19:28 GMT)
Copyright 2009 Dow Jones & Company, Inc.
ECOFIN: EU Almunia: EU Should Restore Budget Stability In 2010
Mon, Jun 8 2009, 19:28 GMT
http://www.djnewswires.com/eu
ECOFIN: EU Almunia: EU Should Restore Budget Stability In 2010 LUXEMBOURG -(Dow Jones)- European Union countries should start trimming their budget deficits next year, when the bloc's economy begins to recover, European Commissioner for Economic and Monetary Affairs Joaquin Almunia said Monday. E.U. countries are focused on an "exit strategy" for the EUR200 billion fiscal stimulus plan they enacted in December, Almunia told a news conference after a meeting of euro-zone finance ministers. The E.U. recently has deflected U.S. calls to expand its fiscal stimulus plan. By contrast, the U.S. earlier this year launched a $787 billion recovery plan, following a $168 billion package in 2008. "This stimulus has to be combined with a strategy which can maintain budgetary stability," Almunia said. -By Adam Cohen and Gabriele Parussini, Dow Jones Newswires; +322 741 1486; adam.cohen@dowjones.com
"This stimulus has to be combined with a strategy which can maintain budgetary stability," Almunia said. -By Adam Cohen and Gabriele Parussini, Dow Jones Newswires; +322 741 1486; adam.cohen@dowjones.com Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=gEqvxRh7l2WIvWED5%2B70EQ%3D%3D. You can use this link on the day this article is published and the following day.
(END) Dow Jones Newswires
June 08, 2009 15:28 ET (19:28 GMT)
copyright 2009 Dow Jones & Company, Inc.
http://www.djnewswires.com/eu
ECOFIN: EU Almunia: EU Should Restore Budget Stability In 2010 LUXEMBOURG -(Dow Jones)- European Union countries should start trimming their budget deficits next year, when the bloc's economy begins to recover, European Commissioner for Economic and Monetary Affairs Joaquin Almunia said Monday. E.U. countries are focused on an "exit strategy" for the EUR200 billion fiscal stimulus plan they enacted in December, Almunia told a news conference after a meeting of euro-zone finance ministers. The E.U. recently has deflected U.S. calls to expand its fiscal stimulus plan. By contrast, the U.S. earlier this year launched a $787 billion recovery plan, following a $168 billion package in 2008. "This stimulus has to be combined with a strategy which can maintain budgetary stability," Almunia said. -By Adam Cohen and Gabriele Parussini, Dow Jones Newswires; +322 741 1486; adam.cohen@dowjones.com
"This stimulus has to be combined with a strategy which can maintain budgetary stability," Almunia said. -By Adam Cohen and Gabriele Parussini, Dow Jones Newswires; +322 741 1486; adam.cohen@dowjones.com Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=gEqvxRh7l2WIvWED5%2B70EQ%3D%3D. You can use this link on the day this article is published and the following day.
(END) Dow Jones Newswires
June 08, 2009 15:28 ET (19:28 GMT)
copyright 2009 Dow Jones & Company, Inc.
UPDATE: Irish Government Takes Battering In Local, By-Elections
Saturday, June 6, 2009
Sat, Jun 6 2009, 17:19 GMT
http://www.djnewswires.com/eu
UPDATE: Irish Government Takes Battering In Local, By-Elections (Adds details beginning in the third paragraph.) DUBLIN (Dow Jones)--Ireland's ruling Fianna Fail party Saturday faced a battering in local elections across the country and two by-elections in Dublin for seats in the Irish parliament as voters effectively withdrew their support for the embattled government. Local elections are regarded as a good sign of how voters will vote in 2012, when the current five-year government term runs out. Prime Minister Brian Cowen has been widely criticized by opposition leaders and economists for his handling of the economic crisis. Cowen said his government will continue to navigate the country out of its deepening recession. "Sometimes in politics when you take necessary decisions you have to put the country first even if it means the short-term political popularity of a party is affected," he said. The right-of-center Fianna Fail party lost a parliamentary vote in Dublin South as former economic correspondent with state broadcaster RTE George Lee won a landslide victory; the seat became open after the death of Fianna Fail TD Seamus Brennan. The other by-election seat in Dublin Central looks set to be taken by Independent candidate Maureen O'Sullivan, according to the latest count; that seat became available after the death of Independent TD Tony Gregory; analysts hadn't expected Fianna Fail to be a contender for that seat. Fianna Fail now has 76 seats in the 166-member Irish parliament; it formed a government with the help of six Green Party TDs and three Independent TDs, meaning it now has a majority of just three seats. Any withdrawal by the Green Party would trigger a general election. Green Party TD Ciaran Cuffe told state broadcaster RTE News that his party's performance in the local elections raised the question of whether it should be in government. "That will open up the question of should we be in government or should we not be in government," he said
But Fianna Fail Justice Minister Dermot Ahern vowed that the government would see out its term until 2012 and said it's governing in difficult economic circumstances. "We're in this for the five years and we will continue," he said Saturday. Fianna Fail is also losing seats in the local elections, according to a Lansdowne Market Research exit poll. Fianna Fail's share of the vote fell 8 points from the last local elections in 2004 to 24%, putting it behind Fine Gael with 30%, but just ahead of Labour with 17%. The exit poll, conducted on Friday by Lansdowne Market Research, was carried out on behalf of RTE and the Sunday Independent. More than 3,300 people were interviewed and the margin of error was 1.7%. Observers say voters are angry over the government's management of the economy. Unemployment hit 11.8% in May, according to the latest data from the Live Register on jobless, while the independent Economic & Social Research Institute see unemployment reaching 17% by the end of 2010 as the country's recession worsens. Meanwhile, tallies from RTE report that Declan Ganley, leader of the anti-Lisbon Treaty campaign turned political party Libertas, is doing better than expected in the North-West European constituency with between 15% and 30% of the vote in some areas. Ireland was the only member of the 27-nation bloc to put the Lisbon Treaty before voters. The treaty was rejected last year by 53.4% to 46.6%, which threw the future of the European project into crisis, but a second vote is expected in October with certain amendments. Those amendments include allowing Ireland to retain an E.U. commissioner, preserving Ireland's neutrality and political independence on corporate taxation. But more Irish voters, fearful of being isolated from Brussels during the worst economic crisis in a generation, are showing support for the treaty, according to recent polls. -By Quentin Fottrell, Dow Jones Newswires; +353-1-676-2189; quentin.fottrell@dowjones.com Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=xd64AbyARtpNyONABxvyJA%3D%3D. You can use this link on the day this article is published and the following day.
(END) Dow Jones Newswires
June 06, 2009 13:19 ET (17:19 GMT)
Copyright 2009 Dow Jones & Company, Inc.
http://www.djnewswires.com/eu
UPDATE: Irish Government Takes Battering In Local, By-Elections (Adds details beginning in the third paragraph.) DUBLIN (Dow Jones)--Ireland's ruling Fianna Fail party Saturday faced a battering in local elections across the country and two by-elections in Dublin for seats in the Irish parliament as voters effectively withdrew their support for the embattled government. Local elections are regarded as a good sign of how voters will vote in 2012, when the current five-year government term runs out. Prime Minister Brian Cowen has been widely criticized by opposition leaders and economists for his handling of the economic crisis. Cowen said his government will continue to navigate the country out of its deepening recession. "Sometimes in politics when you take necessary decisions you have to put the country first even if it means the short-term political popularity of a party is affected," he said. The right-of-center Fianna Fail party lost a parliamentary vote in Dublin South as former economic correspondent with state broadcaster RTE George Lee won a landslide victory; the seat became open after the death of Fianna Fail TD Seamus Brennan. The other by-election seat in Dublin Central looks set to be taken by Independent candidate Maureen O'Sullivan, according to the latest count; that seat became available after the death of Independent TD Tony Gregory; analysts hadn't expected Fianna Fail to be a contender for that seat. Fianna Fail now has 76 seats in the 166-member Irish parliament; it formed a government with the help of six Green Party TDs and three Independent TDs, meaning it now has a majority of just three seats. Any withdrawal by the Green Party would trigger a general election. Green Party TD Ciaran Cuffe told state broadcaster RTE News that his party's performance in the local elections raised the question of whether it should be in government. "That will open up the question of should we be in government or should we not be in government," he said
But Fianna Fail Justice Minister Dermot Ahern vowed that the government would see out its term until 2012 and said it's governing in difficult economic circumstances. "We're in this for the five years and we will continue," he said Saturday. Fianna Fail is also losing seats in the local elections, according to a Lansdowne Market Research exit poll. Fianna Fail's share of the vote fell 8 points from the last local elections in 2004 to 24%, putting it behind Fine Gael with 30%, but just ahead of Labour with 17%. The exit poll, conducted on Friday by Lansdowne Market Research, was carried out on behalf of RTE and the Sunday Independent. More than 3,300 people were interviewed and the margin of error was 1.7%. Observers say voters are angry over the government's management of the economy. Unemployment hit 11.8% in May, according to the latest data from the Live Register on jobless, while the independent Economic & Social Research Institute see unemployment reaching 17% by the end of 2010 as the country's recession worsens. Meanwhile, tallies from RTE report that Declan Ganley, leader of the anti-Lisbon Treaty campaign turned political party Libertas, is doing better than expected in the North-West European constituency with between 15% and 30% of the vote in some areas. Ireland was the only member of the 27-nation bloc to put the Lisbon Treaty before voters. The treaty was rejected last year by 53.4% to 46.6%, which threw the future of the European project into crisis, but a second vote is expected in October with certain amendments. Those amendments include allowing Ireland to retain an E.U. commissioner, preserving Ireland's neutrality and political independence on corporate taxation. But more Irish voters, fearful of being isolated from Brussels during the worst economic crisis in a generation, are showing support for the treaty, according to recent polls. -By Quentin Fottrell, Dow Jones Newswires; +353-1-676-2189; quentin.fottrell@dowjones.com Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=xd64AbyARtpNyONABxvyJA%3D%3D. You can use this link on the day this article is published and the following day.
(END) Dow Jones Newswires
June 06, 2009 13:19 ET (17:19 GMT)
Copyright 2009 Dow Jones & Company, Inc.
Wall Street advances after opening down; USD recovers slightly
Thursday, June 4, 2009
Thu, Jun 4 2009, 16:58 GMT
http://www.fxstreet.com
Fxstreet.com (Barcelona) - US Stocks have recovered its initial losses and it is posting gains for a fifth time in six days. Wall Street has been searching for direction during today's session on debate on where the economic recovery is and when it will finally arrive. USD is recovering slightly against is major rivals.Stocks are rising on energy, oil and banks advances. Dow Jones is gaining 0.40% so far today, S&P 500 rises 0.55% and Nasdaq is posting 0.60% increases in its index today.The Cable's declines in the American session is continuing in the last minutes with the GBP/USD falling to test the 1.6100 level after falling 1.15% so far today from opening price. In the last hour, the pair has fallen around 55 pips from 1.6250 to tests intra-day low at 1.6190.
USD/JPY has found support at 96.15 level, coming from its 70 pips decline from 96.87 intra-week high, and the pair has begun to rise to test the 96.50 level. Currently the pair is rising 0.55% so far today from opening price action to the current 95.45/55.EUR/USD has fallen to 1.4155 after rejecting from 1.4525, currently the pair is trading around 1.4160/70, 0.20% above today's opening price.Valeria Bednarik, FXstreet.com collaborator, affirms: "Despite not so encouraging data in the U.S. with weekly unemployment claims at 621K and some productivity revised to the downside report, Wall Street struggles higher, sending dollar back down. Oil and gold are also regaining ground, supporting greenback fall. Trend remains strong, however, trading will remain cautions, ahead of tomorrow U.S. Non Farm Payrolls. Expect volume to decrease and tinny movements as long as the rest of the day goes by."
http://www.fxstreet.com
Fxstreet.com (Barcelona) - US Stocks have recovered its initial losses and it is posting gains for a fifth time in six days. Wall Street has been searching for direction during today's session on debate on where the economic recovery is and when it will finally arrive. USD is recovering slightly against is major rivals.Stocks are rising on energy, oil and banks advances. Dow Jones is gaining 0.40% so far today, S&P 500 rises 0.55% and Nasdaq is posting 0.60% increases in its index today.The Cable's declines in the American session is continuing in the last minutes with the GBP/USD falling to test the 1.6100 level after falling 1.15% so far today from opening price. In the last hour, the pair has fallen around 55 pips from 1.6250 to tests intra-day low at 1.6190.
USD/JPY has found support at 96.15 level, coming from its 70 pips decline from 96.87 intra-week high, and the pair has begun to rise to test the 96.50 level. Currently the pair is rising 0.55% so far today from opening price action to the current 95.45/55.EUR/USD has fallen to 1.4155 after rejecting from 1.4525, currently the pair is trading around 1.4160/70, 0.20% above today's opening price.Valeria Bednarik, FXstreet.com collaborator, affirms: "Despite not so encouraging data in the U.S. with weekly unemployment claims at 621K and some productivity revised to the downside report, Wall Street struggles higher, sending dollar back down. Oil and gold are also regaining ground, supporting greenback fall. Trend remains strong, however, trading will remain cautions, ahead of tomorrow U.S. Non Farm Payrolls. Expect volume to decrease and tinny movements as long as the rest of the day goes by."
UPDATE: Asian Shares Mostly Higher; Aussie Data Support
Tuesday, June 2, 2009
Wed, Jun 3 2009, 03:16 GMT
http://www.djnewswires.com/eu
UPDATE: Asian Shares Mostly Higher; Aussie Data Support (Adds information, quotes, updates/adds market levels) SINGAPORE (Dow Jones)--Asian share markets were mostly higher Wednesday after a low-key night on Wall Street, with automotive stocks up a little in Tokyo but South Korean banks falling on capital-raising concerns. Australia's S&P/ASX 200 was up 1.0%, after some encouraging first quarter gross domestic product data, with Japan's Nikkei 225 up 0.4% and Korea's Kospi Composite down 0.1%. Hong Kong's Hang Seng Index was up 2.1% after a 2.6% decline Tuesday, with the Shanghai Composite Index up 0.4% and New Zealand's NZX-50 0.5% higher. Some analysts expected stocks to hold their ground in the near term, on a general resumption in risk appetite which has also pushed commodity prices and emerging market currencies higher. "The mood is good," said Hiroichi Nishi, general manager at Nikko Cordial Securities. But U.S. stock futures were slightly lower in screen trade and others warned markets were starting to look overheated, and buyer fatigue may set in. The Nikkei, for example, had risen 4.2% over the five trading days to Tuesday, for a 9.5% gain year-to-date. "We believe the recent stock rally has factored in the initial turnaround in global business activity. Sustainability of the rally will depend on the recovery in final demand," said UOB KayHian research head Nancy Wei. On the slate later in the U.S. are April factory orders, the May ISM Non-Manufacturing Composite Index, and the ADP private payrolls report, with Federal Reserve chairman Ben Bernanke to testify before a U.S. House panel on the budget. Among Japan's automakers, Toyota was up 0.3%, Honda up 0.9% and Nissan up 1.5%. The trio posted steeper declines in U.S. sales in May than most of their American counterparts, though most auto makers reported their highest sales of 2009. Also, Toyota was looking to add 65,000 vehicles this summer to its planned U.S. production schedule. Resource stocks continued to rise with Nippon Mining up 2.2% in Japan, while in China, Zijin Mining Group was up 1.0% and Zhongjin Gold rose 3.6%.
But commodity plays were mixed in Sydney after a strong run. Alumina gained 4.9% after a 7.0% rise Tuesday in its joint venture partner Alcoa in the U.S., with Fortescue Metals up 6.8%, and Rio Tinto up 2.6%. But Lihir was flat, BHP was down 0.4% and Woodside slipped 0.1%. Korean financial stocks were lower after a report in the Maeil Business Newspaper that KB Financial and Woori Finance Holdings were working on rights offers. A spokesman for KB Financial told Dow Jones the company was reviewing various options to raise capital, while a spokesman at Woori Finance said it didn't have plans to issue new shares to secure liquidity. KB Financial was down 4.1% with Woori off 5.3%. Taiwan's main index fell 0.6%. China Metals was limit-down by 7.0% and Prince Housing off 6.9% after prosecutors said they were probing the management of the two building companies on allegations of insider trading, having raided the offices of the companies on Tuesday. But shipping shares were still cheering the recent gains in the Baltic Dry Index, with U-Ming Marine Transport up 2.0% and Sincere Navigation up 2.4%. The BDI, a measure of demand in the sector, breached the 4000 level Tuesday for the first time this year. Energy stocks were rising in Hong Kong on the recent gains in crude oil, with CNOOC up 2.6%. Singapore's Straits Times Index rose 1.1% while Malaysia's Kuala Lumpur Composite Index fell 0.1%. Philippine shares fell 0.7% and Indonesian shares were down 0.05%. In currency markets the euro was down at $1.4280, from $1.4314 late in New York, and at Y136.58, from Y136.78. Tuesday, the currency hit $1.4332, its highest level since late December. The U.S. dollar was at Y95.65, from Y95.53. "The U.S. dollar is trading lower (of late) on debasement concerns. Long-term concerns are driving dollar weakness and hence near-term data points are unlikely to challenge current trends," said analysts at UBS. The Australian dollar was supported by the GDP data, showing growth of 0.4% from the fourth quarter 2008 and 0.4% from the year-earlier period, beating expectations. Recently it was at US$0.8234 after touching US$0.8246, an eight-month high. Still, "the odds are we're going to see bigger declines (in the economy) going forward, particularly as some of the lower coal and iron ore contract prices kick in," said Su-Lin Ong, senior economist at RBC Capital Markets. Treasury Secretary Ken Henry, Australia's top public servant, also told lawmakers a higher high currency, if it were to continue, implied "some downside risk" to future forecasts, especially for net exports. Asian currencies were finding buyers with the U.S. dollar at KRW1,233.1, from KRW1,239.2 Tuesday, at MYR3.4850 against the Malaysian ringgit, from MYR3.4870 on Tuesday, and at S$1.4389 against the Singapore dollar, from S$1.4430. Japanese government bonds were higher, with futures up 0.09 at 135.39 points. Spot gold was up $1.30 from New York, at $984.50 a troy ounce with sentiment good for the metal on the still-weak U.S. dollar, said HSBC analyst James Steel. LME three-month copper was quoted $20 higher from London, at $5,050 a metric ton. July Nymex crude oil futures were down 12 cents on Globex at $68.43 a barrel, after slipping three cents in New York. -Rosalind Mathieson and Wei-Zhe Tan, Dow Jones Newswires; +65-6415-4140; rosalind.mathieson@dowjones.com TALK BACK: We invite readers to send us comments on this or other financial news topics. Please email us at TalkbackAsia@dowjones.com. Readers should include their full names, work or home addresses and telephone numbers for verification purposes. We reserve the right to edit and publish your comments along with your name; we reserve the right not to publish reader comments.
(MORE TO FOLLOW) Dow Jones Newswires
June 02, 2009 23:16 ET (03:16 GMT)
Copyright 2009 Dow Jones & Company, Inc.
http://www.djnewswires.com/eu
UPDATE: Asian Shares Mostly Higher; Aussie Data Support (Adds information, quotes, updates/adds market levels) SINGAPORE (Dow Jones)--Asian share markets were mostly higher Wednesday after a low-key night on Wall Street, with automotive stocks up a little in Tokyo but South Korean banks falling on capital-raising concerns. Australia's S&P/ASX 200 was up 1.0%, after some encouraging first quarter gross domestic product data, with Japan's Nikkei 225 up 0.4% and Korea's Kospi Composite down 0.1%. Hong Kong's Hang Seng Index was up 2.1% after a 2.6% decline Tuesday, with the Shanghai Composite Index up 0.4% and New Zealand's NZX-50 0.5% higher. Some analysts expected stocks to hold their ground in the near term, on a general resumption in risk appetite which has also pushed commodity prices and emerging market currencies higher. "The mood is good," said Hiroichi Nishi, general manager at Nikko Cordial Securities. But U.S. stock futures were slightly lower in screen trade and others warned markets were starting to look overheated, and buyer fatigue may set in. The Nikkei, for example, had risen 4.2% over the five trading days to Tuesday, for a 9.5% gain year-to-date. "We believe the recent stock rally has factored in the initial turnaround in global business activity. Sustainability of the rally will depend on the recovery in final demand," said UOB KayHian research head Nancy Wei. On the slate later in the U.S. are April factory orders, the May ISM Non-Manufacturing Composite Index, and the ADP private payrolls report, with Federal Reserve chairman Ben Bernanke to testify before a U.S. House panel on the budget. Among Japan's automakers, Toyota was up 0.3%, Honda up 0.9% and Nissan up 1.5%. The trio posted steeper declines in U.S. sales in May than most of their American counterparts, though most auto makers reported their highest sales of 2009. Also, Toyota was looking to add 65,000 vehicles this summer to its planned U.S. production schedule. Resource stocks continued to rise with Nippon Mining up 2.2% in Japan, while in China, Zijin Mining Group was up 1.0% and Zhongjin Gold rose 3.6%.
But commodity plays were mixed in Sydney after a strong run. Alumina gained 4.9% after a 7.0% rise Tuesday in its joint venture partner Alcoa in the U.S., with Fortescue Metals up 6.8%, and Rio Tinto up 2.6%. But Lihir was flat, BHP was down 0.4% and Woodside slipped 0.1%. Korean financial stocks were lower after a report in the Maeil Business Newspaper that KB Financial and Woori Finance Holdings were working on rights offers. A spokesman for KB Financial told Dow Jones the company was reviewing various options to raise capital, while a spokesman at Woori Finance said it didn't have plans to issue new shares to secure liquidity. KB Financial was down 4.1% with Woori off 5.3%. Taiwan's main index fell 0.6%. China Metals was limit-down by 7.0% and Prince Housing off 6.9% after prosecutors said they were probing the management of the two building companies on allegations of insider trading, having raided the offices of the companies on Tuesday. But shipping shares were still cheering the recent gains in the Baltic Dry Index, with U-Ming Marine Transport up 2.0% and Sincere Navigation up 2.4%. The BDI, a measure of demand in the sector, breached the 4000 level Tuesday for the first time this year. Energy stocks were rising in Hong Kong on the recent gains in crude oil, with CNOOC up 2.6%. Singapore's Straits Times Index rose 1.1% while Malaysia's Kuala Lumpur Composite Index fell 0.1%. Philippine shares fell 0.7% and Indonesian shares were down 0.05%. In currency markets the euro was down at $1.4280, from $1.4314 late in New York, and at Y136.58, from Y136.78. Tuesday, the currency hit $1.4332, its highest level since late December. The U.S. dollar was at Y95.65, from Y95.53. "The U.S. dollar is trading lower (of late) on debasement concerns. Long-term concerns are driving dollar weakness and hence near-term data points are unlikely to challenge current trends," said analysts at UBS. The Australian dollar was supported by the GDP data, showing growth of 0.4% from the fourth quarter 2008 and 0.4% from the year-earlier period, beating expectations. Recently it was at US$0.8234 after touching US$0.8246, an eight-month high. Still, "the odds are we're going to see bigger declines (in the economy) going forward, particularly as some of the lower coal and iron ore contract prices kick in," said Su-Lin Ong, senior economist at RBC Capital Markets. Treasury Secretary Ken Henry, Australia's top public servant, also told lawmakers a higher high currency, if it were to continue, implied "some downside risk" to future forecasts, especially for net exports. Asian currencies were finding buyers with the U.S. dollar at KRW1,233.1, from KRW1,239.2 Tuesday, at MYR3.4850 against the Malaysian ringgit, from MYR3.4870 on Tuesday, and at S$1.4389 against the Singapore dollar, from S$1.4430. Japanese government bonds were higher, with futures up 0.09 at 135.39 points. Spot gold was up $1.30 from New York, at $984.50 a troy ounce with sentiment good for the metal on the still-weak U.S. dollar, said HSBC analyst James Steel. LME three-month copper was quoted $20 higher from London, at $5,050 a metric ton. July Nymex crude oil futures were down 12 cents on Globex at $68.43 a barrel, after slipping three cents in New York. -Rosalind Mathieson and Wei-Zhe Tan, Dow Jones Newswires; +65-6415-4140; rosalind.mathieson@dowjones.com TALK BACK: We invite readers to send us comments on this or other financial news topics. Please email us at TalkbackAsia@dowjones.com. Readers should include their full names, work or home addresses and telephone numbers for verification purposes. We reserve the right to edit and publish your comments along with your name; we reserve the right not to publish reader comments.
(MORE TO FOLLOW) Dow Jones Newswires
June 02, 2009 23:16 ET (03:16 GMT)
Copyright 2009 Dow Jones & Company, Inc.
Russian Ruble Climbs on Oil Uptrend, Stocks Rally
Monday, June 1, 2009
The Russian ruble posted gains against the U.S. dollar for the third day in a row, as the demand for oil increases, causing the Russian stock market to have the highest rally since the beginning of the global slump.
GBP/USD reaches a fresh 7-month high at 1.6496
Mon, Jun 1 2009, 18:49 GMT
http://www.fxstreet.com
FXstreet.com (Córdoba) – The pound keeps rising across the board. Recently GBP/USD reached a fresh 7-month high at 1.6496. The pair is heading toward the highest daily close since October 21. So far today the par has risen more than 450 pips and is 1.84% above today opening price. Current price for GBP/USD is 1.6454. The pair is rebounding after being rejected near 1.6500.
Against the Euro, the Pound reached a fresh high for 2009. EUR/GBP bottomed at 0.8615 which is the lowest price since December 8. The pair broke below last week lows and rally downside. Next support zone is at 0.8575 (December 8 lows).
http://www.fxstreet.com
FXstreet.com (Córdoba) – The pound keeps rising across the board. Recently GBP/USD reached a fresh 7-month high at 1.6496. The pair is heading toward the highest daily close since October 21. So far today the par has risen more than 450 pips and is 1.84% above today opening price. Current price for GBP/USD is 1.6454. The pair is rebounding after being rejected near 1.6500.
Against the Euro, the Pound reached a fresh high for 2009. EUR/GBP bottomed at 0.8615 which is the lowest price since December 8. The pair broke below last week lows and rally downside. Next support zone is at 0.8575 (December 8 lows).
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