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Thursday, December 9, 2010

The Pound Gains Versus Euro Before Bank of England Rate Decision

The pound strengthened for a fourth day against the euro on bets the Bank of England will judge the economic recovery strong enough to maintain its program of buying bonds unchanged. The pound fell to its lowest level since Nov. 23 against the dollar. Central bank governor, Mervyn King, is likely to maintain the quantitative easing program, called unchanged at 200 million pounds ($ 316,000,000,000), according to 34 economists in a Bloomberg survey. Analysts also expect the bank keeps main interest rate at 0.5 percent, another poll. "The pound has held up pretty well, and I do not see anything that would change that," said Kathleen Brooks, director of London-based research at FOREX.com, a unit of online currency trading company Capital Gain . "Growth is holding up well, and that's getting...

The dollar strengthened for a fourth day

The dollar strengthened for a fourth day after the shares compared their progress, fueling demand for the relative safety of U.S. currency. The dollar rose against the euro and the pound as the benchmark Stoxx 600 index trimmed gains to 0.2 percent to 0.7 percent. "We have seen an unfortunate culture of risk-off in markets throughout the morning," said Daragh Maher, deputy head of global currency strategy at Credit Agricole Corporate & Investment Bank in London. "I suspect that given an offer to the dollar and caused the euro down. We have seen the stock markets open well in Europe and then fall very rapidly." The U.S. currency rose...

SPDR Gold Trust Options Ponga Beat Calls for the first time in two weeks

Sales volumes of option-linked to the SPDR Gold Foundation, the largest exchange-traded fund backed by gold, topped the options trading for the first time in more than two weeks. The volume in put options, which give the holder the right to sell the shares at a fixed price and date, amounted to 192,122 contracts yesterday, the highest since Nov. 12. Exceeded trade options, giving the holder the right to purchase over two consecutive days, according to the data. Gold futures traded in New York reached a record $ 1432.50 an ounce on 07 December and fell by 3.3 percent since then, comparing this year's gains to 26 percent. The most popular option in the future given the right to buy gold at $ 2,000 by November next year. "The market view of lower prices until the end of the year is certainly...

European shares rose to a maximum of two years

European shares rose to a maximum of two years as reports reassured investors that the global economic recovery is intact. The bags of Asia and America's Future in stock indexes also advanced. ASML Holding NV advanced 6.1 percent after the company raised its outlook for bookings in the fourth quarter. BG Group Plc rose to the highest in 2 1 / 2 years after that you get about 600 million barrels of oil from Tupi in early trade in Brazil and Guara fields. Volkswagen AG led automakers lower as China said it could end the tax incentives for the purchase of cars next year. The Stoxx Europe 600 Index advanced 0.2 percent to 275.49 of 11:05 am in London, heading for the highest close since September 2008. The extent of European shares was up 8.6 percent this year, corporate profits and improving...

The Dollar May Rise to 88 Yen

he dollar may strengthen to 88 yen after finding support as indicated by the graphic Ichimoku, Commerzbank AG, said. "Dollar-yen continues to recover after testing support at 82.32, the baseline of nine days, known as the kins," said Karen Jones, head of fixed income, commodities and currency technical analysis Commerzbank in London, in an interview today. "Kinser's support comes in at 82.48 today. Also supported on 82.31, 50 percent Fibonacci retracement of the move down from May." This area represents "a short term basis, reinforced by the Ichimoku" said Jones. Ichimoku letters are used to predict the direction of a coin by analyzing the...

Hedge Funds Return 0.6% in November, Beating Japan stocks as lead managers

Hedge funds gained 0.6 percent in November, led by Japanese businessmen, and outperformed the global capital markets that fell during the month, said Eurekahedge Pte. Hedge funds posted positive results for the fifth consecutive month, the Eurekahedge Hedge Fund Index, which tracks over 2,500 funds worldwide, increasing by 7.9 percent in the first 11 months, the data provider with headquarters in Singapore, said in a report by email. About $ 5 million for industry last month, Eurekahedge said, based on data from 32 percent of the funds so far have reported their November performances. Managers who invest in Japan and the strategies that equity issues led gains in the month, helped by a rise in Japanese stocks, the preliminary report showed. The MSCI World Index fell 2.4 percent in November. Monitoring...

Follow winding Gabrielli Petrobras $ 40 million of debt plan

yield of Petroleo Brasileiro SA bonds are rising more in 12 months after the Brazilian oil company controlled by the state, said it plans to increase the debt by up to 60 percent to 107 billion U.S. dollars over the next four years. The yield of 5.75 dollar bonds of the company percent in 2020 rose 81 basis points last month to 4.88 percent. The yields of emerging market bond business rose 40 basis points, or 0.40 percentage points over the same period, data from JPMorgan Chase & Co. show. CEO Jose Sergio Gabrielli said in Rio de Janeiro on 7 December, the company plans to raise between $ 30 million and $ 40 billion of new debt over the next four years to fund the largest investment plan in the oil industry . Petrobras, which has 67 billion U.S. dollars of total debt, has not issued...

Brazil leaves options open for the truth Tombini time increase in its rate

Brazil's central bank kept its options open for when interest rates rise to cool inflation running at more than five years after leaving its benchmark rate unchanged yesterday at the last meeting chaired by the bank president, Henrique Meirelles. Policy-makers Tombini Alexandre, who is scheduled to hit next month Meirelles, voted unanimously to keep the Selic rate unchanged at 10.75 percent. The decision matched the forecast of 48 of 51 analysts surveyed by us. Three economists forecast an increase of at least a quarter point. The eight-member board said in a statement, said it faced a "less favorable scenario" that at its last meeting, although...

Fluctuations in currency exchange rates will increase next year growth rates differ

Fluctuations in currency exchange rates will increase next year growth rates differ, central bankers try to sustain the recovery and European leaders battle a sovereign debt crisis, according to UBS AG. Annual price fluctuations in the exchange rate can double in some major currencies, UBS strategists predicted the currency trader world's second largest. The euro may vary between $ 1.1 and $ 1.5, compared with $ 1.1877 to $ 1.4579 so far this year, and the U.S. dollar you can play as low as 70 yen to 100 yen in 2011, twice the range 80.22-94.99 current year, the company said. "The divergence between the strength in emerging markets and unusual levels of uncertainty in major world economies will make this super volatility," Mansoor Mohi-Uddin, the Singapore-based head of global currency strategy...

Australia Dollar rises as employers add more jobs than economists forecast

The Australian dollar strengthened against all its major counterparts after a government report showed employers added more than twice as many jobs as economists' forecasts. Australia's currency gained for the first time in four days against the dollar as the extra yield bonds of the South Pacific nation to offer over Treasuries widened and traders added to bets the Fed will increase rates interest. New Zealand dollar fell for a second day against Australia after the country's central bank said smaller borrowing costs will likely increase "in a more limited extent" in the next two years. "This is a significant finding and supports the Australian dollar," said Robert Rennie, chief currency research in Sydney at Westpac Banking Corp., the second largest bank in Australia. "The market is more...

Wheat quality up by March as Australia Drops

Wheat prices may extend gains and trade at high levels until early 2011, as reduction of crops in Australia, the fourth largest exporter, in addition to the supply side, a U.S. executive Wheat Associates, said. "The market may be necessary to go higher before it's over," said Vince Peterson, vice president of group operations abroad, in an interview in Perth. "We'll be at these higher ranks at least until the first quarter." Wheat prices rose to a maximum of two years in August, after Russia, the third largest exporter last year, banned shipments through the country's worst drought in half a century. Wet weather is to degrade crops in Australia and the delay in harvesting after the rain had damaged the quality of the previous crop in Germany and Canada. "There were a lot of buyers are expected...

Top Asia shares in employment growth in Australia, Japan's GDP

Asian stocks gained, driving the benchmark index to its advance sixth in seven days, as reports on economic growth better than expected in Japan and employment in Australia increased confidence in a regional recovery. Mitsubishi UFJ Financial Group Inc., Japan's biggest bank, traded, rose 3.7 percent. Westpac Banking Group Ltd., the second largest in Australia bank by market value, rose 2.4 percent. BHP Billiton Ltd., the world's largest mining company, rose 1.3 percent in Sydney after copper futures rose to a record yesterday in New York. Innolux Chimei Corp. led declines by Taiwanese manufacturers of flat screen following European Union...

Nikkei 225 "Signs of the Cross of Gold 'Rally April high

Japan's Nikkei 225 Stock Average gold formed a cross call, indicating the meter may rise 11 percent through April of this year's high in the next quarter, according to Nomura Holdings Inc. 25-day moving average Nikkei surpassed the 200-day moving average today to form a cross of gold, which is considered by observers from table to be a bullish sign. The last event occurred in June 2009. The Nikkei was high this year on April 5, when it closed at 11,339.30 and can go back to that level in the quarter ended in March, said Shoichiro Yamauchi, a technical analyst at Nomura. "A cross that the signal indicator is aimed at its April high as a short-term goal," Yamauchi said Nomura. "The 200 day moving average has been moving sideways, and far less for up and cross, indicating a strong uptrend that...

Woodside signs $ 1.1 billion syndicated loan for five years as LNG Up Costs

Woodside Petroleum Ltd., the second largest oil producer in Australia, agreed to a $ 1,100,000,000 loan syndicated to five years to refinance existing debt. Australia and New Zealand Banking Group Ltd. and Bank of Tokyo-Mitsubishi UFJ Ltd. to organize the loan, which was provided by 34 banks, Perth-based Woodside said in a filing with the bag. Funds will be used to repay a loan of the same size, signed in May 2009, according to the presentation. Woodside November 30, said his company Pluto liquefied natural gas, one of more than a dozen proposals for LNG development in Australia and Papua New Guinea, will cost over $ 900 million (881 million...

Oil Trader JPMorgan Eisenstein leaves in restructuring after Sempra Buy

Oil trader Ira Eisenstein left JPMorgan Chase & Co. last week that the U.S. bank the second largest by assets restructured its team following the acquisition by $ 1.7 billion units of RBS Sempra Commodities LLP. "I am no longer there," he said in New York, Eisenstein, who spent 17 years at Morgan Stanley, JP Morgan before, in a telephone interview yesterday. "A number of people who have been leaving at the same time. They are just restructuring." JPMorgan cuts oil traders to make room for new staff, Eisenstein said. Kimberly Weinrick, JP Morgan spokesman, declined comment. JPMorgan global unity of commodities, led by Blythe Masters, cut staff following acquisitions including units of Bear Stearns Cos. and UBS AG. The bank began firing on July 21 to cut the RBS Sempra eliminate overlap...

Norway Oil Fund Says Europe Bet Pays Off on Strong Bond Outlook

510 billion U.S. dollars in Norway's sovereign wealth fund, the largest in the world's second, said that his bet that Europe will leave the debt crisis is paying off in the bond markets in the region promise to deliver a "strong" recovery. "This year, you're actually getting further compensated for the risk is obviously there, so I prefer to say we are more comfortable than less comfortable than a year ago, Yngve Slyngstad, director of Norges Bank Management Investments that manages the fund, said yesterday in an interview on Television Francine Lacqua. "In the future, I think the European bond market will be strong and healthy." The Government...

Oil rose for the first time in three days

Oil rose for the first time in three days on signs that economic recovery is gaining strength and curb the excess fuel inventories. Cattle futures after data showed Japan's economy grew faster than initially estimated in the third quarter. A U.S. government report yesterday showed crude inventories in the hands of the world's largest consumer of oil fell by almost three times more than expected. The Organization of Petroleum Exporting Countries will meet to review production quotas at the end of the week. "The market is anticipating the improved fundamentals in 2011," said Hannes Loacker, analyst at Raiffeisen International Bank AG in Vienna....

SocGen , HSBC U.S. Touch Sales to Europe Funds Evaporate

Societe Generale SA and HSBC Holdings Plc issued almost $ 3 billion of bonds denominated in dollars and a growing crisis of sovereign debt sales in Europe declined. Société Générale, the second largest French bank, sold $ 2 billion of notes in an offering of three parts, the relative yields close to those paid in a similar operation three months ago, before Ireland's fiscal problems affected credit market. London-based HSBC issued $ 1 billion of debt in the sale of reference for the first time by a European bank in the U.S. more than a month. "The senior unsecured market in Europe appears to be relatively closed for the moment, so the way forward is the dollar market, who is also looking a little more promising," said Jeroen van den Broek, a credit strategist at ING Bank NV in Amsterdam. Sales...

Keep Racing UK rates home buyers in the market guessing

the UK home prices are rising. Or that is falling. Depends on whom you ask. Property researcher Hometrack Ltd. reported a decrease of 0.9 percent per month in October, the highest since January 2009. Mortgage lender Halifax said prices rose 1.8 percent, recovering from a fall of 3.7 percent in September. Ltd. Acadametrics up from a gain of 0.3 percent, pushing prices to highest level since June 2008. British decide whether to buy, sell or invest in residential property are left to sift through at least seven indexes that provide different results and regularly diverge in the direction of prices. Adding to the uncertainty in a market where confidence is already low and keeps some buyers and investors out, according to Christopher Down, executive director of Hearthstone Investments Plc. "It...

Bond sales increased demand as yields in Stoke 6 months ago

Russia sold more bonds offered for the first time, accepting the highest performance in six months as the prospect of higher interest rates increases the cost of financing its budget deficit. The Ministry of Finance sold 6.5 billion rubles ($ 209 million) of bonds maturing in August 2012 Yesterday, more than 5.9 billion rubles planned for a yield of 6.1 percent, the highest highest since June 2, according to data compiled by Bloomberg. The government also issued 10.4 billion rubles of OFZs per call in July 2015 with a yield of 7.26 percent, the highest end of the guidance given on 7 December. Inflation that the government expects to exceed its target of 8 percent this year is beginning to "worry" Central Bank Chairman Sergei Ignatiev rossii Bank said yesterday. Traders expect the benchmark...

India inflation above the level of tolerance " Subbarao said before the meeting Rates

India's inflation remains above "tolerance", central bank governor Duvvuri Subbarao said before the monetary policy announcement next week. "Inflation is falling but still above RBI's tolerance level," Subbarao told reporters in the eastern city of Calcutta, India yesterday. Inflation India's benchmark wholesale prices cooled to a nine-month low of 8.58 percent in October. The Reserve Bank of India aims to curb inflation to between 4 percent and 4.5 percent. The central bank said on 02 November that it probably will not raise interest rates until January, taking time to see the impact of six increases in interest rates this year. A liquidity...

Gold may drop further as record high investor demand Stokes

Gold may climb in London as a two-day slide from a record increase in demand for physical traders and investors. Gold fell 2.9 percent the past two days after reaching a record $ 1431.25 an ounce on 07 December. The dollar was little changed against the euro before reports today that economists said will show U.S. initial jobless claims fell and improving consumer confidence. Gold typically moves inversely to the dollar. "We're seeing a lot of physical demand out of Asia," said Bernard Sin, chief currency and bullion trading metal refinery MKS Finance SA in Geneva. "People are happy to buy here. There is still much concern in the euro area and the U.S." immediately bullion delivery added $ 7.05, or 0.5 percent, to $ 1,389.13 an ounce at 9:20 am in London. The metal for delivery in February...

The euro weakened against the dollar and the yen.

The euro weakened against the dollar and the yen. The 16-nation currency slid 0.3 percent to $ 1.3218 as of 9:52 am in London, after having strengthened to $ 1.3323. The euro fell 0.4 percent against the yen at 110....

Treasury yields rise as high decoy About 6 months Fed Outlook

Treasuries gained as benchmark yields about six months investors attracted high amid speculation that the Federal Reserve next week's sign that he is considering adding to its program of 600 billion U.S. dollars of LBO . Ten years following notes rose the highest two-day plunge in two years, the extra yield offered by Treasury bills to 10-year Japanese government bonds widened to more than five months, increasing the attractiveness of U.S. assets . Fed officials will meet on Dec. 14 after announcing its purchase program of the Treasury at its last meeting on 3 November. Thirty-year bonds were little changed before the Treasury auctions $ 13...

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