Friday 17 July 2009

Looking for Japanese Yen to recover close to 90.00 - Commerzbank

FXstreet.com (Barcelona) - After testing three times the 91.80 strong support (July 8, 10 and 11), USD/JPY rose to post 94.45 as 1-week high, thus pair started to falls to levels close to 93.30 yesterday. Currently the pair is trading around 93.74, 0.05% above today's opening price and closing the week with 1.45% gains from 92.43, Monday opening price.

The current week is the second of six positive week since the pair traded 98.90 in the early June. On the month, USD/JPY is falling 2.60% from 96.23 July the 1st opening price.

Karen Jones, Analyst at Commerzbank, comments the Yen to recover further and test 90.00 support in the following three weeks as pair is trading in a downchannel: "USD/JPY as suspected failed to make much impression beyond the 94.10/40 resistance and the intraday focus has shifted to nearby support. The market is currently being contained lower within the confines of a downchannel. This downchannel currently offers resistance at 97.16 and support at 91.40. The top of the channel is reinforced by its 100 day ma at 97.09 and our overall negative bias is entrenched while capped by 91.09/16. Loss of minor support at 93.00 will leave pressure back on the downside and we look for a breach of the 91.75/40 support to trigger a slide to 90.15 enroute to the 87.10 lows."

Jones expects a negative trend, taking pair to 90.15 level in the following three weeks: "Shorter term (1 - 3 weeks): Negative, target 90.15."

Asian Shares End Mostly Higher But Jakarta Stks Dn On Blasts

Asian Shares End Mostly Higher But Jakarta Stks Dn On Blasts

SINGAPORE (Dow Jones)--Most Asian share markets ended Friday's trading on a buoyant note to take home weekly gains, with commodity and shipping stocks broadly advancing on hopes of an economic recovery.

Indonesian stocks and currency tumbled after bomb blasts at two luxury hotels in Jakarta killed at least nine people and injured 50. But losses were pared during the course of the day as investors remained optimistic about the country's economic and political prospects.

"Global factors are still in favor of Indonesia. Pessimism over the U.S. economy is receding, encouraging global investors to reenter emerging markets, including Indonesia," said Standard Chartered economist Eric Sugandi.

Indonesia's main share index tumbled 2.7% in early trading, but recovered somewhat and closed down 0.6% at 2106.35. Shares of PT Holcim Indonesia fell 3.8%. Chief Executive Timothy Mackay was among those killed in the bomb blasts, a company official said. Among other Indonesian shares, Bakrie & Brothers shed 2.3%, Bumi Resources declined 1.1% and Bank Negara Indonesia also lost 1.1%.

In currency markets, the U.S. dollar jumped as high as 10190 rupiah, but also pared gains and was recently buying 10150 rupiah. "Fundamentals in Indonesia are very, very strong," added Craig Chan, a currency strategist with Nomura Securities.

Shares in Japan, Hong Kong, Australia, South Korea and Taiwan stretched their gains into a fourth straight session.

Japan's Nikkei 225 Average rose 0.6% to 9395.32, with trading volumes modest ahead of a three-day weekend, given Monday's national holiday.

Hong Kong's Hang Seng Index jumped 2.4% to 18805.66 and India's Sensex surged 2.8% in afternoon trading. Australia's S&P/ASX 200 inched up 0.1%, South Korea's Kospi gained 0.6%, Taiwan's Taiex rose 1%, New Zealand's NZX 50 advanced 0.2% and Singapore's Straits Times Index climbed 1.3%.

BNP Paribas analyst John Hetherington said the bullish tone in Asian markets was probably because of earnings growth expected next year.

"On average, our analysts expect earnings this year to fall 6% in Asia...Next year, however, is a completely different story, thanks to a low base after two years of falling profits. Our analysts project a remarkable 32% rebound in earnings," he added.

Dow Jones Industrial Average futures were recently down 19 points in screen trade. Investors were still watching news from U.S. lender CIT Group. Large bondholders were discussing a plan to exchange $5 billion in debt for equity in the company, which was also trying to raise emergency funds to avert a bankruptcy filing, said a person familiar with the matter.

Still, "investors are reluctant to buy (heavily) because of concerns over CIT Group's possible bankruptcy filing, which could come during Japan's long weekend," said Yumi Nishimura, market analyst at Daiwa Securities SMBC. Japanese markets will be shut Monday.

China's Shanghai Composite gained 0.2%, erasing early losses. There were some concerns of monetary tightening in the wake of strong economic data released over the last few days, but a few economists didn't see that happening anytime soon.

"China's economy is in better shape than many other countries, but it doesn't have a proper social safety net. Until Beijing feels more comfortable about job creation, we think it will avoid symbolically significant tightening measures, such as rate hikes, to avoid crushing confidence," Credit Suisse research analyst Dong Tao wrote in a report.

Energy and shipping shares were broadly higher, aided by an overnight increase in commodity prices. Woodside Petroleum gained 2.9% and BHP Billiton rose 0.8% in Sydney, Cnooc climbed 1.7% and China Cosco Holdings advanced 2.1% in Hong Kong, while Mitsui O.S.K. Lines gained 0.7% in Tokyo. Neptune Orient Lines surged 5.7% in Singapore and Cairn India rose 1.3%, while Shipping Corp. of India advanced 1.8%.

Shares of Nissan Motor rose 2.5% on a Nikkei newspaper report it was aiming to develop its own technology for hybrid vehicles and plans to launch a hybrid minivan in Japan in 2011.

NEC Corp. sank 8.9% in Tokyo after the Yomiuri Shimbun reported it was looking to raise capital. NEC said in a statement there was no truth to the report it had made such a decision, though a person familiar with the matter told Dow Jones Newswires that NEC was currently considering raising capital to strengthen its finances.

Technology stocks were leading in Korea with LG Display gaining 2.3% after reporting better-than-expected second quarter earnings and an upbeat outlook.

Currency market trade was choppy. There was a mild inclination to buy the safe-haven Japanese yen on the Jakarta explosions, though Asian currencies generally held up fairly well.

The euro was at 132.27 yen, from 132.63 yen in late New York trade, with the dollar at 93.73 yen from 93.75 yen. The euro was at $1.4108, from $1.4145.

Spot gold was bid at $935.10 a troy ounce, down $2.90 cents from late New York. August Nymex crude oil futures were at $61.72 a barrel on Globex, down 30 cents from New York.

-Dow Jones Newswires; +65-6415-4140; markettalk@dowjones.com

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July 17, 2009 05:48 ET (09:48 GMT)


Copyright 2009 Dow Jones & Company, Inc.

European stocks rises; Dollar slightly higher

FXstreet.com (Barcelona) - Stock markets in Europe are rising today's Friday session, following the green numbers in Asia, on economic recovery optimism despite speculations on CIT Group will file for bankruptcy. Exports fell more than imports in Europe in May, indicating that trade remains substantially weaker than last year after the credit crisis collapses.

DJ Eurostoxx 50 is rising 0.77% so far today, FTSE 100 advances 0.70%, CAC 40 posts 0.80% increases, DAX index climbs 0.95% today's session and the IBEX 35 is reaching 0.85% daily gains.

In Asia, Nikkei index has posted 0.55% gains, Hang Seng jumped 2.42% today and S&P/ASX 200 advanced 0.13% on Friday.

Eurozone n.s.a trade balance reduced its surplus in May to 1.9B from 2.7B posted in April. s.a trade balance posts 800 millions surplus in May from 300 millions deficit posted in April.

EUR/USD is falling 0.25% so far today from opening price to the current 1.4090/1.4500. GBP/USD has declined 0.65% on the day to the current 1.6300/10 after posting 1.6285 as intra-day low.

USD/JPY continues trading in a narrow range between 93.55 and 93.75 and USD/CHF is rising 0.35% so far today after jumping to test 1.0790, yesterday's high.

DATA SNAP: Euro-Zone Trade Surplus Shrinks In May

DATA SNAP: Euro-Zone Trade Surplus Shrinks In May

By Nicholas Winning

Of DOW JONES NEWSWIRES

LONDON (Dow Jones)--The 16 countries that use the euro posted a smaller-than-expected trade surplus in May as exports fell more than imports from April, data released by the European Union's Eurostat statistics agency showed Friday.

Non-seasonally adjusted figures showed the euro zone's surplus narrowed to EUR1.9 billion in May from EUR2.7 billion in April. Economists were expecting a EUR2.7 billion surplus, according to a Dow Jones Newswires survey last week.

The figures showed euro-zone exports totaled EUR97.7 billion in May, down 24% on the year, while imports totaled EUR95.8 billion, a 27% drop compared with May 2008. In April, euro-zone exports totaled EUR102.7 billion, while imports totaled EUR99.9 billion, Eurostat said.

The data indicate that trade remains substantially weaker than last year after the credit crisis plunged the euro zone and many of its main trading partners into the deepest recession since World War II.

Trade among the 16 euro-zone member states shrank to EUR101.3 billion in May from EUR103.6 billion in April, leaving it 23% weaker on the year.

The euro zone's trade deficit for the first five months of the year shrank to EUR6.5 billion from EUR13.4 billion during the same period in 2008, but the data showed exports and imports for the January-May period were both 23% weaker on the year.

Eurostat Web site: www.europa.eu.int/en/comm/eurostat

-By Nicholas Winning, Dow Jones Newswires, +44 207 842 9498; ick.winning@dowjones.com

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July 17, 2009 05:00 ET (09:00 GMT)


Copyright 2009 Dow Jones & Company, Inc.

Currency Rates Of Coffee Producing, Consuming Countries

Currency Rates Of Coffee Producing, Consuming Countries

LONDON (Dow Jones)--U.S. dollar exchange rates as of 09:39 GMT July 17, compared with 10:36 GMT July 16.

Producers:

17/07/09 (16/07/09)

Angolan Kwanza AON 77.805 (74.971)
Bolivian Boliviano BOB 7.02 (7.02)
Brazil Real BRL 1.9306 (1.9345)
Burundi Franc BIF 464 (470)
*CFA Franc XOF 2019.5 (2047.5)
Cuban Peso CUP 36 (36)
Ecuadorean Sucre ECS 8.748 (8.748)
El Salvador Colon SVC 8.1315 (8.1315)
Ethiopian Birr ETB 11.335745 (11.3405)
Guatemala Quetzal GTQ 8.1315 (8.1315)
Guinea Franc GNS 4843.235 (4837.75)
Indian Rupee INR 48.67 (48.79)
Indonesian Rupiah IDR 10135 (10100)
Kenyan Shilling KES 76.85 (77.2)
Malawi Kwacha MWK 140.05 (141.05)
Mexican Peso MXN 13.58 (13.5705)
Nicaragua Cordoba NIC 19.788565 (19.7935)
Papua New Guinea Kina PGK 2.6059 (2.6116)
Peruvian New Sol PES 3.017035 (3.02375)
Philippines Peso PHP 48.1 (48.075)
Vietnam Dong VND 17805 (17805)
Zambian Kwacha ZMK 5175.5 (5175.5)
Zimbabwe Dollar ZWD 445.5 (444.5)

CONSUMERS:


Danish Krone DKK 5.2813 (5.2907)
#Euro EUR 1.4098 (1.4074)
Japanese Yen JPY 93.625 (93.565)
Norwegian Krone NOK 6.3939 (6.4091)
Swedish Krona SEK 7.8422 (7.8286)
Swiss Franc CHF 1.0776 (1.0774)

(Currency rates for the Colombian Peso COP, Costa Rican Colon CRC, Dominican Republic DOP, Haiti Gourde HTG, Honduras Lempira HNL and Venezuelan Bolivar VEB are unavailable due to a problem with the source.)

* = The CFA Franc is the common currency of 14 African countries which are
members of the Franc zone:
XOF = Benin, Burkina, Ivory Coast, Guinnea Bissau, Mali, Niger, Senegal
and Togo under the Central Bank of the West African States.
XAF = Cameroon, Central African Republic, Chad, Congo, Equatorial Guinea
and Gabon, under the Bank of the Central African States.

# = Currencies that are quoted in U.S. dollars per unit of currency.
All other currencies are quoted in units of currency per U.S. dollar.

Source: OANDA Corp and yahoo.com.


-By Michael Haddon, Dow Jones Newswires; 4420-7842-9289; michael.haddon@dowjones.com

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July 17, 2009 04:42 ET (08:42 GMT)


Copyright 2009 Dow Jones & Company, Inc.

GLOBAL MARKETS: European Stocks Up;US Earnings Lift Sentiment

GLOBAL MARKETS: European Stocks Up;US Earnings Lift Sentiment

By Andrea Tryphonides
Of DOW JONES NEWSWIRES


LONDON (Dow Jones)--European stocks traded in positive territory Friday, again taking their lead from the U.S. equity markets and earnings, with the latter surprising to the upside, led by JP Morgan's.

Mike Lenhoff, chief strategist at Brewin Dolphin said: "The results coming through are very supportive of a more promising outlook and the markets have been responding to that... I think there is a greater sense of conviction than there was before that a recovery is happening."

By 0755 GMT, the pan-European Stoxx 600 index was up 0.5% at 210.8. London's FTSE 100 was up 0.6% at 4388.0, Frankfurt's DAX increased 0.5% to 4985.0 and Paris's CAC-40 was 0.6% higher to 3220.1.

Gains were widespread across sectors Friday, although volumes were not exciting. With little in the way of fundamental macroeconomic data due for release investors had their eyes on further U.S. earnings for direction. These include news from banking giants Citigroup and Bank of America, as well as industrial conglomerate General Electric.

Meanwhile in Europe, autos led the market higher. Renault was up 1.3% at EUR25.9 despite announcing a 16.5% fall in global vehicle sales in the first-half of the year. The French car maker added that it has achieved a significantly positive free cash flow in this period but its net profit will be hit by a negative operating margin.

Elsewhere, British Airways soared 3.1% to 136.3 pence after it said it was set to raise GBP600 million through a bond issue and bank facilities to increase its liquidity. Also, the trustees of the group's pension fund agreed to release some bank guarantees back to the airline, making up to $540 million available for the airline to draw in cash.

In financials, Swedbank gained 3.3% to SEK50.0 after stating that it would review all commitments in the Baltic states and Ukraine and would continue to cut jobs, mainly in Eastern Europe, as bad loans in the region pushed the bank towards a worse-than-expected second-quarter loss.

On Thursday, U.S. stocks again showed strength, as the Dow Jones Industrial Average gained 1.1% to 8711.8. The Nasdaq Composite gained 1.2% to 1885.0 and the Standard & Poor's 500 rose 0.9%, to 940.7.

Investors are "positioning themselves to raise equity exposure as the earnings season unfolds," said Fred Dickson, market strategist at D.A. Davidson.

However, Ian Horsley, index trader at Spreadex.com, said: "Despite better than expected results from the major banks it's very much been a stealth rally and investors may well be looking for a break of the recent highs of 8877 [on the DJIA] before they sense real optimism."

Elsewhere, Asian stock markets were mostly higher Friday, although gains were tentative before the weekend.

Japan's Nikkei 225 closed up 0.6%, South Korea's Kospi Composite up 0.6% and Hong Kong's Hang Seng index was 2.4% higher.

By contrast, Indonesia's share market fell 0.9% after bomb blasts at two luxury hotels in the Jakarta business district killed at least nine people and injured 50.

In the currency markets, the euro fell slightly against the yen and dollar Friday as players sold the common currency to lock in profits on its overnight rise.

But overall sentiment towards the European currency remained stable and it could resume rising if stock prices keep going up and U.S. financial institutions' earnings turn out to be robust, dealers said.

At 0810 GMT, the euro stood at $1.4088, compared with $1.4148 late Thursday in New York, and at Y131.91 versus Y132.89.

Turning to crude, the oil market edged lower Friday amid a bout of profit taking after prices topped $62 a barrel Thursday, lifted by stronger equities.

At 0810 GMT, the August crude contract on Globex stood at $61.72 per barrel, down 30 cents, having settled Thursday at $62.02 per barrel, 48 cents higher, on the New York Mercantile Exchange, the highest settlement price since July 7.

Also at 0810 GMT, spot gold stood at $936.25/oz, down from $937.35 in late New York trading.

European government bond markets were firmer, helped by some gains in U.S. Treasurys late Thursday and a degree of safe-haven buying after the blasts in Jakarta.

At 0815 GMT, the September bund contract stood at 121.71, 0.23 higher.

-By Andrea Tryphonides, Dow Jones Newswires; +44-20-7842-9281; andrea.tryphonides@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=OgBNNDYHfkY7HuExqLXI%2FA%3D%3D. You can use this link on the day this article is published and the following day.

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July 17, 2009 04:17 ET (08:17 GMT)


Copyright 2009 Dow Jones & Company, Inc.

DATA SNAP:Italy May Indus Orders In 1st Mo Rise Since Jul 08

DATA SNAP:Italy May Indus Orders In 1st Mo Rise Since Jul 08

By Liam Moloney and Giada Zampano

Of DOW JONES NEWSWIRES

ROME (Dow Jones)--Italian industrial orders rose moderately in May on the month, advancing for the first time since July of last year, as foreign and national demand climbed, statistics agency Istat said Friday.

Industrial orders fell an unadjusted 31.0% on the year in May, a drop for the eighth month in a row, after slipping 32.2% in April and 26.0% in March.

On the month, industrial orders rose a seasonally-adjusted 0.4% compared with a 3.6% fall in April.

Industrial sales were down an unadjusted 25.3% on the year in May. Sales on the month decreased 1.1% in May as national sales fell by 2.7%, while foreign industrial sales were up 3.1%.

Web site: www.istat.it

-By Liam Moloney and Giada Zampano, Dow Jones Newswires; +39 06 6976 6924; liam.moloney@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=OgBNNDYHfkY7HuExqLXI%2FA%3D%3D. You can use this link on the day this article is published and the following day.

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July 17, 2009 04:11 ET (08:11 GMT)


Copyright 2009 Dow Jones & Company, Inc.

5th UPDATE: Terror Strikes On Jakarta Hotels Leave 9 Dead

5th UPDATE: Terror Strikes On Jakarta Hotels Leave 9 Dead

(Recasts with quotes from Indonesian president. Minor edits, amends headline.)

   JAKARTA -(Dow Jones)- Two large bomb blasts hit the Ritz-Carlton and JW Marriott hotels in the Indonesian capital on Friday, killing nine and wounding nearly 50 in the first terror attack in the Southeast Asian nation since 2005. 


Suspicion immediately fell on regional terror network Jemaah Islamiyah and one of its master bombmakers and strategists - Noordin Mohammed Top.

President Susilo Bambang Yudhoyono meanwhile, said his government would step up security measures following the "inhuman" act of terror. He said he didn't know which group was responsible for the attacks yet.

Several foreigners were among the dead in the twin hotel explosions early Friday morning in Jakarta. Nearly 50 people were also wounded, Agence France-Presse said.

The streets outside the two hotels, which sit adjacent to each other in the Mega Kuningan business district in central Jakarta were covered in shattered glass and debris.

White smoke billowed in the aftermath of the blast. Dazed and bloodied workers and hotel guests milled outside soon after the explosions.

The facade of the Ritz-Carlton was ripped off after an explosion in the restaurant while people were having breakfast, police said.

An unexploded bomb was later found at the Marriott, the local TVOne station said. It has since been detonated.

Authorities were acting on the assumption that the bombing was carried out by Muslim extremists, said a senior counterterrorism official, the Wall Street Journal reported.

Chief security minister Widodo AS said nine people were killed and 41 wounded. He said the blasts were caused by high-level explosives.

At a news conference, President Yudhoyono alleged there was a plot to prevent his reelection, calling the attackers "spreaders of death."

"Today, bombings have been perpetrated by terrorist groups. I cannot yet say whether these groups are the same ones" that have carried out attacks in the past, Yudhoyono said in a speech broadcast on local television. "This may have a wide impact on our economy, on tourism, and the business climate."

Indonesia's share market initially slumped 2.6% after the blasts, but the index came off its lows to be down 1.5% just before midday local time, as some investors opted to focus on the country's economic and political prospects.

"Global factors are still in favor of Indonesia. Pessimism over the U.S. economy is receding, encouraging global investors to reenter emerging markets, including Indonesia," said Standard Chartered economist Eric Sugandi.

Still, Ben Sukma, chairman of Indonesia's tourism association, ASITA, admitted there'll "definitely be an impact" on tourism following the strikes.

Australia has already urged citizens to reconsider the need to travel to the archipelago, as Prime Minister Kevin Rudd described the attacks as "barbaric." Singapore meanwhile, urged citizens to be vigilant.

"We continue to receive credible information that terrorists could be planning attacks in Indonesia and that Bali remains an attractive target for terrorists," an Australian foreign ministry statement read.

Four foreigners were killed, The Associated Press and local Metro TV said. The blasts may have come from the front and the basement of the hotels, the Antara news agency said.

Among those killed was PT Holcim Indonesia's (SMCB.JK) chief executive Timothy Mackay. He was at the Marriott, a company official said, and died from his injuries in hospital.

Shares of Holcim Indonesia (SMCB.JK) were down 3.8% shortly after the news broke of Mackay's passing.

Citizens from the U.S, Netherlands, India, Canada, Australia, South Korea were among the injured, reports said.

The first explosion took place around 7:40 a.m. local time (0045 GMT) with the second occurring minutes later.

"I heard at least three explosions and now white smoke is billowing," a fund manager at a foreign securities company told Dow Jones Newswires by phone.

Indonesia, the world's most populous Muslim nation, hasn't suffered a major terrorist attack since the 2005 restaurant bombings on the resort island of Bali. The JW Marriott was the target of an earlier bombing in 2003 that killed 12.

That blast was blamed on regional terror group Jemaah Islamiyah, as was the 2002 Bali nightclub bombings that killed 202 people.

Jemaah Islamiyah is largely believed to have been weakened since it carried out a series of high-profile terror strikes that began in Bali in 2002.

Analysts believe the network is weakened after a number of its leaders were arrested and some prosecuted. Three of the 2002 Bali bombers have also been executed.

But one JI mastermind - Malaysian Noordin Mohammed Top - is still on the run and widely believed to be in Indonesia. He has been described by the U.S. government as one of the "most dangerous members" of Jemaah Islamiyah.

"He is believed to be a top recruiter, strategist, and fundraiser," Noordin's description on the U.S. "Rewards for Justice" Web site read.

"He is a charismatic leader and a recruiter, and has proven to be innovative and single-minded in his desire to implement the Al Qaeda line and target Western interests," it said.

Also Friday, English soccer team Manchester United - who were supposed to stay at the Ritz-Carlton - said they would cancel the Jakarta leg of their Asian tour. They were scheduled to arrive Sunday for a sold-out game against an Indonesian selection.

The Jakarta strikes appear to be the latest luxury hotels targeted in a series of recent attacks in Asia.

More than 50 people were killed and more than 250 injured after a suicide bomber blew up an explosive-laden truck outside the Marriott in Islamabad in September last year.

In India's commercial capital Mumbai, nearly 170 people were killed after gunmen laid siege to the landmark Taj Mahal and Oberoi hotels last November. Analysts have long warned hotels were a prime target for terrorists.

   -By Jakarta Bureau, Dow Jones Newswires; 62-21 39831277; I-Made.Sentana@dowjones.com



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July 17, 2009 04:05 ET (08:05 GMT)


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CURRENCIES: Dollar Gains In Asia, Taking Cues From Stocks

CURRENCIES: Dollar Gains In Asia, Taking Cues From Stocks

By Lisa Twaronite

The dollar gained in Asian trading Friday, taking its cues from mostly firmer equities markets across the region and shrugging off earlier losses on reports of fatal blasts in Indonesia.

The yen had gained earlier, on reports that a series of blasts hit hotels in central Jakarta early Friday, claiming at least nine lives.

Foreign exchange markets "are again taking their lead from equities, with U.S. dollar and Japanese yen generally firmer," said Adam Cole, global head of FX strategy at RBC Capital Markets.

The dollar bought 93.72 yen, up from 93.28 yen in late North American trading on Thursday. Tokyo trading volume was reported to be light, ahead of a Japanese market holiday on Monday.

The dollar index (DXY), which tracks the greenback against a trade-weighted basket of six major rivals, was at 79.311, up from 79.222 late Thursday.

The euro bought $1.4129, down from $1.4146 late Thursday, while the British pound fetched $1.6404, down from $1.6440.

Currencies markets had little reaction to reports that U.S. Commerce Secretary Gary Locke said the U.S. wants China to move more quickly to a free-floating exchange rate mechanism for the yuan.

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July 17, 2009 03:21 ET (07:21 GMT)

4th UPDATE: Deadly Blasts Hit Jakarta Luxury Hotels; 9 Dead

4th UPDATE: Deadly Blasts Hit Jakarta Luxury Hotels; 9 Dead

(Adds details on unexploded bomb, comments from Australian PM, Manchester United canceling Jakarta leg of Asian tour.)

JAKARTA -(Dow Jones)- Two large bomb blasts hit the Ritz-Carlton and JW Marriott hotels in the Indonesian capital on Friday, killing nine.

It was the first terror attack in the Southeast Asian nation since 2005, and suspicion immediately fell on regional terror network Jemaah Islamiyah and one of its leading bombmakers and strategists - Noordin Mohammed Top.

Several foreigners were among the dead in the twin hotel explosions early Friday morning in Jakarta. Nearly 50 people were also wounded, Agence France-Presse said.

The streets outside the two hotels, which sit adjacent to each other in the Mega Kuningan business district in central Jakarta were covered in shattered glass and debris.

White smoke billowed in the aftermath of the blast. The facade of the Ritz-Carlton was ripped off after an explosion in the restaurant while people were having breakfast, police said.

An unexploded bomb was later found at the Marriott, the local TVOne station said. It has since been detonated.

Authorities were acting on the assumption that the bombing was carried out by Muslim extremists, said a senior counterterrorism official, the Wall Street Journal reported.

Chief security minister Widodo AS said nine people were killed and 41 wounded. He said the blasts were caused by high-level explosives.

Indonesia's share market initially slumped 2.6% after the blasts, but the index came off its lows to be down 1.5% just before midday local time, as some investors opted to focus on the country's economic and political prospects.

"Global factors are still in favor of Indonesia. Pessimism over the U.S. economy is receding, encouraging global investors to reenter emerging markets, including Indonesia," said Standard Chartered economist Eric Sugandi.

Still, Ben Sukma, chairman of Indonesia's tourism association, ASITA, admitted there'll "definitely be an impact" on tourism following the strikes.

Australia has already urged citizens to reconsider the need to travel to the archipelago, as Prime Minister Kevin Rudd described the attacks as "barbaric."

"We continue to receive credible information that terrorists could be planning attacks in Indonesia and that Bali remains an attractive target for terrorists," an Australian foreign ministry statement read.

Four foreigners were killed, The Associated Press and local Metro TV said. The blasts may have come from the front and the basement of the hotels, the Antara news agency said.

Among those killed was PT Holcim Indonesia's (SMCB.JK) chief executive Timothy Mackay. He was at the Marriott, a company official said, and died from his injuries in hospital.

Shares of Holcim Indonesia (SMCB.JK) were down 3.8% shortly after the news broke of Mackay's passing.

Three Dutch citizens, an Australian and a South Korean were among the injured, reports said.

The first explosion took place around 7:40 a.m. local time (0045 GMT) with the second occurring minutes later.

Police have sealed off the area near the Ritz-Carlton and the JW Marriott in the Mega Kuningan district. "I heard at least three explosions and now white smoke is billowing," a fund manager at a foreign securities company told Dow Jones Newswires by phone.

Indonesia, the world's most populous Muslim nation - hasn't suffered a major terrorist attack since the 2005 restaurant bombings on the resort island of Bali. The JW Marriott was the target of an earlier bombing in 2003, in which 12 people died.

That blast was blamed on regional terror group Jemaah Islamiyah, as was the 2002 Bali nightclub bombings that killed 202 people. Jemaah Islamiyah is largely believed to have been weakened since it carried out a series of high-profile terror strikes that began in Bali in 2002.

Analysts believe the network is weakened after a number of its leaders were arrested and some prosecuted. Three of the 2002 Bali bombers have also been executed.

But one leader - Malaysian Noordin Mohammed Top - is still on the run and widely believed to be in Indonesia. He has been described by the U.S. government as one of the "most dangerous members" of Jemaah Islamiyah.

"He is believed to be a top recruiter, strategist, and fundraiser," Noordin's description on the U.S. "Rewards for Justice" read.

"He is a charismatic leader and a recruiter, and has proven to be innovative and single-minded in his desire to implement the Al Qaeda line and target Western interests," it said. Also Friday, English soccer team Manchester United - who were supposed to stay at the Ritz-Carlton - said they would cancel the Jakarta leg of their Asian tour. They were scheduled to arrive Sunday for a sold-out game against an Indonesian selection.

The Jakarta strikes appear to be the latest luxury hotels targeted in a series of recent attacks in Asia.

More than 50 people were killed and more than 250 injured after a suicide bomber blew up an explosive-laden truck outside the Marriott in Islamabad in September last year.

In India's commercial capital Mumbai, nearly 170 people were killed after gunmen laid siege to the landmark Taj Mahal and Oberoi hotels last November. Analysts have long warned hotels were a prime target for terrorists.

   -By Jakarta Bureau, Dow Jones Newswires; 62-21 39831277; I-Made.Sentana@dowjones.com



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July 17, 2009 03:19 ET (07:19 GMT)


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France To Exit Econ Slump In 2H 2010 - Report

France To Exit Econ Slump In 2H 2010 - Report

PARIS (Dow Jones)--The French economy will pick up from the current slump in the second half of next year, Stimulus Minister Patrick Devedjian told daily Le Parisien in an interview published Friday.

Devedjian added that while France hasn't exited the downturn yet, he sees "numerous signs of improvement."

Newspaper Web site: www.leparisien.fr

-By Paris Bureau, Dow Jones Newswires; 33-1-4017 1740

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July 17, 2009 03:09 ET (07:09 GMT)


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Forex: Pound falls quickly to break 1.6360 against Dollar

FXstreet.com (Barcelona) - GBP/USD has fallen around 90 pips in the last hour from 1.6415 to break 1.6360 level and post 1.6324 as fresh intra-day low. Pair has continued, thus, with its rejection from 1.6416, fresh 2-week high reached yesterday's session.

Currently pair is trading around 1.6330/40, 0.45% below today's opening price action.

Rajoo C, analyst at Precise Trader, comments: "The Hourly Oscillators are turning bearish and price is approaching the MA, so Cautious approach is needed for the bulls. Hourly Trend is Turning Down while 16525 level holds and Daily Trend is Sideways Down while 16625 holds, so expect the price to turn down any moment. The Patterns are suggesting the High may have already been seen on the Hourly Chart or it may test the high one more time. Conservative traders should look to Short near 16480 or strictly trade only at our levels. Aggressive traders look to Short while 16480-16525 level holds."

Friday 3 July 2009

DATA SNAP: UK Service Sector Grows, But Slows In June

DATA SNAP: UK Service Sector Grows, But Slows In June

By Paul Hannon

Of DOW JONES NEWSWIRES

LONDON (Dow Jones)--The U.K's dominant services sector expanded for the second straight month in June, but at a marginally slower pace than in May.

Research group Markit Economics Friday said the purchasing managers' index for the services sector fell to 51.6 in June from 51.7 in May.

A reading above 50.0 indicates the sector is expanding, while a reading below 50.0 indicates it is contracting.

The PMI was weaker than expected, with economists surveyed by Dow Jones last week having forecast the measure would rise to 52.5.

But policy makers will take some comfort from the fact that a key part of the economy grew, having contracted between May 2008 and April 2009.

-Paul Hannon, Dow Jones Newswires; +44 20 7842 9491; paul.hannon@dowjones.com

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July 03, 2009 04:39 ET (08:39 GMT)


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GLOBAL MARKETS: European Stocks Lower On Econ Recovery Doubts

GLOBAL MARKETS: European Stocks Lower On Econ Recovery Doubts


By Ishaq Siddiqi
Of DOW JONES NEWSWIRES


LONDON (Dow Jones)--European stocks were marginally lower Friday, with investors wary of putting money back into play given concerns over the pace of a potential economic recovery amid thin trading conditions.

"The heightened optimism of the past couple of months has been eroded into, with a dose of reality possibly creeping in with the worrying jobless figures in the U.S.," said Owen Ireland, sales broker at ODL Securities.

At 0830 GMT, the Dow Jones Stoxx 600 index was down 0.3% at 203.43, London's FTSE 100 index was off 0.1% at 4229.83. Frankfurt's DAX index lost 0.4% at 4699.0, and the CAC-40 index in Paris was 0.5% lower at 3100.9.

"Many market participants feel that economic and financial Armageddon has been avoided and therefore the rally from lows in March this year is justified, however there is no clear consensus on how and when recovery will ultimately take hold," said European strategists at Nomura.

With U.S. markets closed to observe Independence Day, Friday, European indexes suffered from low volumes and struggled to make meaningful headway given the lack of direction from across the Atlantic.

And with corporate newsflow thin on the ground, investors kept their focus on some of the day's economic data releases to offer some further clues into the state of the European economy.

Euro-zone retail sales for May are expected at 0900 GMT and recent data coming from the main euro-zone countries have been mixed in May, with German retail sales up by modest 0.5% month on month versus the 1.4% decline in French consumer spending for manufactured goods, noted Annalisa Piazza, strategist at Newedge Group.

"All in all, the picture for euro-zone household spending is not too bleak in 2Q, given the current development of the labour market and still depressed economic conditions. We don't expect household spending to be a boost for growth in the coming quarters, but at least it will be a cushion for another deep economic contraction," added Piazza.

Overnight in the U.S, the weak employment report sent stocks tumbling at the news that the world's largest economy lost 467,000 jobs in June, a much greater decline than the 350,000 economists in a Dow Jones Newswires survey had expected.

Overall, the Dow Jones Industrial Average closed down 223.32 points, or 2.6%, at 8280.74. For the week, the Dow slid 157.65, or 1.9%, marking its third straight weekly decline and its lowest closing value since May 22.

The Standard & Poor's 500 flirted with 900 for much of the day, eventually pushing below that previous support level to 896.42, down 26.91 points, or 2.9%. The index lost 22.38 points, or 2.4%, on the week, also marking its third straight week in the red.

Asian stock markets also fell initially Friday after the dismal U.S. jobs report cast further doubt on a near-term economic recovery, but low trading volumes before the U.S. holiday prevented big declines and the markets came off their lows, with some actually closing in the black.

Japan's Nikkei 225 closed down 0.6%, but Korea's Kospi Composite closed 0.6% higher. Hong Kong's Hang Seng index was last seen 0.1% higher.

Elsewhere, the crude oil futures market still looks weak Friday, continuing Thursday's decline after the weak payrolls release shook confidence in an economic recovery by the world's largest energy user.

At 0835 GMT, the August crude contract on Globex was at $66.45 per barrel, down 28 cents, having settled Thursday at $66.73 per barrel, down $2.58, on the New York Mercantile Exchange.

"The unemployment data showed the economy is not turning around," said Zachary Oxman, managing director at TrendMax Futures in Encinitas, California. "The market is due for a correction and we'll see a lot of money coming out of commodities in the third quarter."

At 0835 GMT, spot gold stood at $931.75/oz, up more than $1 from late New York business Thursday.

In the foreign exchanges, the weaker-than-expected payrolls data prompted a surge in risk aversion, with the U.S. dollar rising against the euro but falling against the Japanese yen. However, some of these moves have now been reversed in Asian and early European trading.

"The U.S. is closed Friday to mark Independence Day. As such, there are no U.S. data releases, and liquidity is likely to be thin, which may result in some very choppy price action across currency pairs," said Christian Lawrence at RBC Capital Markets.

At 0835 GMT, the euro stood at $1.3999, compared with $1.4004 late Thursday in New York, with the dollar at Y95.93, basically unchanged versus Y95.95.

The safe-haven sovereign debt markets are a touch lower Friday, as investors take profits after Thursday's sharp gains on demand for low-risk government debt. Still, trading is likely to be limited with the U.S. market closed Friday.

At 0835 GMT, the September bund contract stood at 121.56, down 0.10.

-By Ishaq Siddiqi, Dow Jones Newswires; +44-20-7842-9488; ishaq.siddiqi@dowjones.com

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July 03, 2009 04:38 ET (08:38 GMT)


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DATA SNAP: Euro-Zone Output Decline Slows Further In June

DATA SNAP: Euro-Zone Output Decline Slows Further In June

LONDON (Dow Jones)--The contraction in euro-zone output slowed for the fourth consecutive month in June, but a stronger decline in the services sector cast a cloud over the strength of the economic recovery, final data from Markit Economics showed Friday.

The final reading of the Markit euro-zone composite output index rose to a nine-month high of 44.6 from 44.0 in May, slightly above the flash June estimate 44.4.

Nevertheless the gauge of private sector activity across the whole economy remained below the neutral 50 mark, indicating that output declined for the 13th consecutive month in June. A reading above 50.0 indicates an expansion, while a reading below 50.0 indicates a contraction.

Furthermore, Markit said its services business activity index fell to 44.7 in June from 44.8 in May - signalling a slight acceleration in the rate of contraction in the sector.

Market participants were expecting the composite PMI to rise to 44.4 and the services index to increase to 44.5, according to a Dow Jones Newswires survey of economists last week.

-By Nicholas Winning, Dow Jones Newswires; +44 207 842 9498; nick.winning@dowjoens.com

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July 03, 2009 04:23 ET (08:23 GMT)


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CURRENCIES: Dollar Edges Higher In Thin Trade Ahead Of Holiday

CURRENCIES: Dollar Edges Higher In Thin Trade Ahead Of Holiday

By Lisa Twaronite

The dollar edged higher against its major counterparts in Asian trading Friday, in thin trading ahead of a U.S. market holiday.

The Japanese yen "pulled back from its Asian session highs amid reports of bargain hunting in the crosses following reserve management interest," said currency strategists at Action Economics.

U.S. markets will be closed for Independence Day.

The dollar traded at 95.99 yen, up from 95.88 yen in late North American trading Thursday.

The euro bought $1.4017, down from $1.4027 late Thursday.

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July 03, 2009 03:48 ET (07:48 GMT)


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Spanish May Industrial Production -21% On Year

Spanish May Industrial Production -21% On Year

MADRID (Dow Jones)--Spanish industrial production weakened further in May, weighed down by sluggish output of durable and capital goods.

Spanish May industrial production fell 21% on the year in calendar-adjusted terms, after a 19% decline in April and a 24% decline in March according to preliminary data Friday from Spain's National Statistics Institute, or INE.

The April figure was revised from a previously estimated decline of 20%.

The production of durable consumer goods dropped 33%, while capital goods production dropped 29%.

The Spanish economy entered recession in the third quarter of last year after the global financial crisis hastened the collapse of a decade-long construction boom in the country.

INE Web site: www.ine.es

-By Christopher Bjork and Jonathan House, Dow Jones Newswires; +34-91-3958121; jonathan.house@dowjones.com

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July 03, 2009 03:09 ET (07:09 GMT)


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GLOBAL MARKETS: European Stocks To Edge Up; Volumes Seen Thin

GLOBAL MARKETS: European Stocks To Edge Up; Volumes Seen Thin

By Peter Nurse
Of DOW JONES NEWSWIRES


LONDON (Dow Jones)--European stocks are expected to open marginally higher Friday, as investors chase bargains after Thursday's hefty losses. However, the U.S. holiday is likely to limit activity.

"Equities may manage a small bounce after yesterday's big selloff, but with little in the way of fundamentals due and volumes likely to be depressed given the holiday across the Atlantic, it could end up being a rather uninspiring session," said Matt Buckland, a dealer at CMC Markets.

Buckland expected Europe's major indexes to largely drift at the open, with London's FTSE 100 index set to open unchanged at 4234. He also saw Frankfurt's DAX index rising 12 points to 4730, and the CAC-40 index in Paris up six points to 3122.

A weak U.S. jobs report Thursday roiled U.S stocks, resulting in a hefty selloff.

At the end of a holiday-shortened week of trading, the most eagerly anticipated report on the economy was a stark letdown. The U.S. Labor Department said nonfarm payrolls shed 467,000 jobs in June, a much greater decline than the 350,000 economists in a Dow Jones Newswires survey had expected.

Overall, the Dow Jones Industrial Average closed down 223.32 points, or 2.6%, at 8280.74. For the week, the Dow slid 157.65, or 1.9%, marking its third straight weekly decline and its lowest closing value since May 22.

The Standard & Poor's 500 flirted with 900 for much of the day, eventually pushing below that previous support level to 896.42, down 26.91 points, or 2.9%. The index lost 22.38 points, or 2.4%, on the week, also marking its third straight week in the red.

The Nasdaq Composite Index lost 49.20 points, or 2.7%, to 1796.5, finishing the week down 41.70, or 2.3%.

Asian stock markets also fell initially Friday after the dismal U.S. jobs report cast further doubt on a near-term economic recovery, but low trading volumes before the U.S. holiday prevented big declines and the markets came off their lows, with some actually closing in the black.

Japan's Nikkei 225 closed down 0.6%, but Korea's Kospi Composite closed 0.6% higher. Hong Kong's Hang Seng index was 0.1% lower.

And, "with the impact of those shocking U.S. payroll figures likely to continue being felt by the market for some time," added Buckland, "elements such as the U.K. services PMI and euro-zone retail sales figures, both due this morning, seem unlikely to provide much meaningful direction."

Elsewhere, the crude oil futures market still looks weak Friday, continuing Thursday's decline after the weak payrolls release shook confidence in an economic recovery by the world's largest energy user.

At 0630 GMT, the August crude contract on Globex was little changed at $66.81 per barrel, having settled Thursday at $66.73 per barrel, down $2.58, on the New York Mercantile Exchange.

"The unemployment data showed the economy is not turning around," said Zachary Oxman, managing director at TrendMax Futures in Encinitas, California. "The market is due for a correction and we'll see a lot of money coming out of commodities in the third quarter."

At 0630 GMT, spot gold stood at $933.25/oz, up more than $3 from late New York business Thursday.

In the foreign exchanges, the weaker-than-expected payrolls data prompted a surge in risk aversion, with the U.S. dollar rising against the euro but falling against the Japanese yen. However, some of these moves have now been reversed in Asian and early European trading.

"The U.S. is closed Friday to mark Independence Day. As such, there are no U.S. data releases, and liquidity is likely to be thin, which may result in some very choppy price action across currency pairs," said Christian Lawrence at RBC Capital Markets.

At 0630 GMT, the euro stood at $1.4014, compared with $1.4004 late Thursday in New York, with the dollar at Y96.04, higher than Y95.95.

The safe-haven sovereign debt markets have opened a touch lower Friday, as investors take profits after Thursday's sharp gains on demand for low-risk government debt. Still, trading is likely to be limited with the U.S. market closed Friday.

At 0630 GMT, the September bund contract stood at 121.63, down 0.02.

-By Peter Nurse, Dow Jones Newswires; +44-20-7842-9288; peter.nurse@dowjones.com

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July 03, 2009 02:41 ET (06:41 GMT)


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IMF Kato: Establishing New International Reserve Currency Takes Time

IMF Kato: Establishing New International Reserve Currency Takes Time

BEIJING -(Dow Jones)- International Monetary Fund Deputy Managing Director Takatoshi Kato said Friday establishing a a new international reserve currency is a long-term process that is market driven.

Kato repeated the IMF "very much appreciates" China's willingness to buy as much as US$50 billion of IMF bonds. He added he hopes these purchases will help Beijing manage its foreign-exchange reserves.

The IMF this week agreed to issue bonds denominated in Special Drawing Rights to bolster its finances. Apart from China, Russia and Brazil have also said they are willing to buy the IMF's bonds. Kato was speaking on the sidelines of a forum in Beijing.

-Liu Li contributed to this story, Dow Jones Newswires; 8610 6588 5848; li.liu@dowjones.com

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July 03, 2009 01:00 ET (05:00 GMT)


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UPDATE: Asian Shares Fall On US Data, But Losses Not Severe

UPDATE: Asian Shares Fall On US Data, But Losses Not Severe

(Adds information, quotes, updates/adds market levels)

By Rosalind Mathieson and Matthew Allen

Of DOW JONES NEWSWIRES

SINGAPORE (Dow Jones)--Asian share markets were falling Friday after a dismal U.S. jobs report cast further doubt on a near-term economic recovery, though low trading volume before a U.S. holiday prevented big declines and markets were off their lows. Shipping, commodity and energy stocks declined, though two stocks gained on debut in Hong Kong.

Risk aversion was also hurting currencies like the euro and Australian dollar, though they were also off their initial troughs as Asian share markets held up better than thought.

Japan's Nikkei 225 was down 1.0% with Australia's S&P/ASX 200 down 1.4% and South Korea's Kospi Composite off just 0.2%. New Zealand's NZX-50 was 0.6% lower, with Taiwan's main index flat and Hong Kong's Hang Seng Index down 0.6%.

IG Markets institutional trader Chris Weston said there was no real inclination by investors to take big positions. "People are now waiting for the U.S. earnings period, which kicks off with Alcoa on Wednesday."

J.J. Park at Taurus Investment & Securities in Seoul said "some seem to be trying to interpret the bleak U.S. jobs data as maybe just a one-off result of the restructuring process of major U.S. car makers."

David Watt, a senior strategist at RBC Capital Markets, said thoughts of a V-shaped recovery seemed less credible. Still, with the U.S. recession into its 19th month, and a hyper-aggressive stimulus policy, "the U.S. job market will be less treacherous in the second half."

The Dow Jones Industrial Average dropped 2.6% after data showed July nonfarm payrolls fell 467,000, more than the 350,000 expected by economists in a Dow Jones Newswires survey. The jobless rate hit 9.5%, its highest level in more than 25 years.

In Tokyo, Mitsui O.S.K. Line was down 3.4%, with oil plays Inpex and Japan Petroleum down 2.8% and 2.3% respectively and Nippon Steel 1.9% lower. In Australia, Fortescue Minerals was down 3.3%, Woodside down 1.3% and Macarthur Coal off 3.0%.

BHP Billiton was down 0.9%. The miner agreed to sell its Yabulu nickel refinery in Queensland to companies owned by Australian mining magnate Clive Palmer. BHP would write down the carrying value of Yabulu by around US$500 million.

Qantas was down 0.1% after earlier falling 3.8%, with the airline saying it carried 2.8% fewer passengers in May compared with a year earlier, while revenue passenger kilometers were down 3.9%.

Markets in Seoul weren't that fussed by indications North Korea late Thursday test-fired four short-range missiles, as Pyongyang's sabre-rattling was nothing new. Financial and cyclical stocks were lower, with KB Financial off 1.7% and Posco down 1.2%, though buyers were coming into technology stocks on hopes for the upcoming earnings season, with Hynix Semiconductor adding 1.7%.

There were several new listings in Hong Kong. Herbal shampoo manufacturer Bawang International was up 19.3% at HK$2.84 in heavy trade, though off an initial high of HK$2.98, with coal trader China Qinfa up 10.3% at HK$2.78.

Trade in Taiwan was a tale of two sectors with export-orientated technology firms hit by the weak U.S data, but financial stocks gaining after the Commercial Times cited the China Banking Regulatory Commission chairman as saying China intended to give a bigger share of its credit card market to Taiwanese banks than it did to other foreign banks. Chipmaker TSMC was down 0.6% but Chinatrust Financial up 4.1%.

Singapore's Straits Timex Index was down 1.1% with economically-sensitive, high-beta commodity plays falling. Noble Group was down 1.1% and Golden Agri off 1.4%.

Malaysian shares were down 0.6% with Indonesian shares off 0.6% and Philippine shares 0.8% lower. The Shanghai Composite Index was flat.

In currency markets the euro was down at $1.3987, from $1.4025 late in New York, but off a low of $1.3943, and at Y134.18, from Y134.45, with the U.S. dollar at Y95.90, from Y95.85.

The Australian dollar was down at US$0.7961.

Asian currencies were following the region's stock markets lower. The U.S. dollar was up at MYR3.5250 against the Malaysian ringgit, from MYR3.5175 Thursday, and at KRW1,276.8 against the Korean won, from KRW1,269.50.

Japanese government bonds were helped by higher U.S. Treasurys and lower stocks in Tokyo, with the lead futures contract up 0.23 at 138.43 points, having briefly touched 138.50, its highest level in three months.

Asia credit default swap spreads were wrenched wider by the turbulence in U.S. and European markets, said BNP Paribas credit analyst Brett Williams, with Japan's benchmark CDS index out 17 basis points and Australia's index 10 basis points wider. "Weak data trends and sentiment convey another opportunity for us to restate our key investment message: Credit is where you need to be."

Spot gold was $4.60 higher at $932.80 a troy ounce, bouncing off its New York lows even as the U.S. dollar remained well-bid. LME three-month copper nudged up $15.0 from London levels, to $5,045 a metric ton.

August Nymex crude oil futures were down 28 cents on Globex at $66.44 a barrel, after falling $2.58 or 3.7% in New York.

-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.

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July 02, 2009 23:15 ET (03:15 GMT)


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Thursday 2 July 2009

UPDATE: BOE Miles: Better Stricter In Macroprudential Tools

UPDATE: BOE Miles: Better Stricter In Macroprudential Tools
   (Adds comments.)


LONDON -(Dow Jones)- Bank of England Monetary Policy Committee member David Miles said Thursday that the experience of the financial crisis suggests that it's better to err on the strict side when implementing macroprudential regulation.

In a speech at the London School of Economics, Miles said it is difficult to gauge the impact of house prices on consumer spending, since their movements in either direction create both winners and losers, and the outcome depends on how forward-looking homeowners are.

He also said it would be sensible to consider whether commission paid to financial intermediaries on mortgage deals is appropriate, and if it should be banned for the same reason that commission on savings products already has been.

"Given what we have been through, I think it makes sense to take more type 1 risk in thinking about regulation; that is, the risk of being too tough on some products and institutions when we need not have been," Miles said.

He added that it might be sensible to take a similar stance on dictating absolute limits of loan-to-value ratios on mortgages.

Miles also said he has "no enthusiasm" for capital gains tax on owner-occupied properties, since it isn't clear that house price rises create a real increase in wealth.

-By Natasha Brereton, Dow Jones Newswires; +44-20-7842-9254; natasha.brereton@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=8nLUSqR%2B15oQ%2FMg2D03oHg%3D%3D. You can use this link on the day this article is published and the following day.

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July 02, 2009 12:49 ET (16:49 GMT)


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CURRENCIES: U.S. Dollar Up After June Jobs Data Disappoint

CURRENCIES: U.S. Dollar Up After June Jobs Data Disappoint

By Deborah Levine

The dollar gained more than 1% versus the euro and Canadian and New Zealand currencies Thursday after the U.S. government reported more job losses than expected in June, raising concerns about the vitality of the economic recovery.

Also weighing on the euro, the European Central Bank said it would hold interest rates at current record-low levels and made no significant changes to its plan to purchase covered bonds.

The dollar index (DXY), a measure of the greenback against a trade-weighted basket of currencies, stood at 80.232, up from 79.619 in North American trading Wednesday afternoon.

The euro bought $1.4013, down from $1.4156 Wednesday. The greenback gained as much as 1% against the Canadian dollar and 1.8% versus the New Zealand dollar, reversing some of the steep declines in recent months.

The U.S. Labor Department said nonfarm payrolls contracted by 467,000 last month, more than the 325,000 drop expected by economists surveyed by MarketWatch. The nation's unemployment rate rose to 9.5%, less than the anticipated 9.6%.

U.S. equity markets dropped after the data, as investors registered their displeasure with the step backward taken by the employment market. The Standard & Poor's 500 Index (SPX) lately lost about 2.2%.

Falling stocks have for months tended to be a stronger factor in currency trading.

"It started under the guise of safe-haven flows, when stocks fall, the market would pile into the dollar," said Ronald Simpson, a global currency analyst at Action Economics. "The relationship is more related to the Treasury market -- you buy dollars and pour into short-term Treasurys, which are considered safe."

The Japanese yen has been an even stronger beneficiary of flights to safety. The dollar traded at 95.93 yen, from 96.59 yen on Wednesday.

Also weighing on the euro, the ECB left unchanged its key lending rate, as expected, and stuck with the amount of covered bond purchases in its plan.

At his monthly news conference, ECB President Jean-Claude Trichet said the rates remain "appropriate" in light of recent economic data.

Also, "we saw the euro slip a little bit on Moody's downgrade of Ireland," said Simpson.

In the overnight session, currency traders played off a Chinese official's call for a stable dollar and a diversification of reserve currencies Thursday, reports said, but the currency market reaction was muted.

China hopes for diversification of the international currency system in the future, and this topic could be addressed at next week's Group of Eight leaders' summit next week in Italy, Chinese Vice Foreign Minister He Yafei said, reiterating previous official remarks.

"The market's fear that capital flows are going to shift away from U.S. securities" will weigh on the dollar over time, said Todd Elmer, currency strategist at Citigroup. "There is no real indication it's happening quickly."

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=8nLUSqR%2B15oQ%2FMg2D03oHg%3D%3D. You can use this link on the day this article is published and the following day.

(END) Dow Jones Newswires

July 02, 2009 12:48 ET (16:48 GMT)


Copyright 2009 Dow Jones & Company, Inc.

CME Currencies Volume/Open Interest - Jul 2

CME Currencies Volume/Open Interest - Jul 2
For the previous business day.
Globex --RTH Volume-- Total
Volume Open Other Volume Open Int Change
Outcry
-Australian Dollar
SEP09 57,499 15 865 58,379 91,627 +840
DEC09 41 0 0 41 310 +25
MAR10 0 0 0 0 15 UNCHG
SEP10 0 0 0 0 1 UNCHG
TOTAL 57,540 15 865 58,420 91,953 +865
-BRAZIL REAL
JUL09 0 0 0 0 134 UNCHG
SEP09 3 0 0 3 1,751 -3
DEC09 0 0 0 0 246 UNCHG
TOTAL 3 0 0 3 2,131 -3
-BRITISH POUND
SEP09 92,432 10 800 93,242 92,109 +613
DEC09 22 0 0 22 277 +19
JUN10 0 0 0 0 2 UNCHG
SEP10 0 0 0 0 20 UNCHG
TOTAL 92,454 10 800 93,264 92,408 +632
-CANADIAN DOLLAR
SEP09 55,394 246 300 55,940 75,352 -2,219
DEC09 58 7 0 65 2,189 +17
MAR10 0 0 0 0 495 UNCHG
JUN10 0 0 0 0 114 UNCHG
SEP10 3 0 0 3 149 +3
DEC10 0 0 0 0 10 UNCHG
TOTAL 55,455 253 300 56,008 78,309 -2,199
-RMB USD
JUL09 0 0 0 0 1 UNCHG
SEP09 0 0 0 0 22 UNCHG
OCT09 0 0 0 0 1 UNCHG
DEC09 2 0 0 2 96 +2
MAR10 0 0 0 0 1 UNCHG
APR10 0 0 0 0 1 UNCHG
DEC10 0 0 0 0 3 UNCHG
TOTAL 2 0 0 2 125 +2
-EURO FX
SEP09 218,296 166 866 219,328 118,866 +5,215
DEC09 51 0 0 51 961 -16
MAR10 9 0 0 9 331 +8
JUN10 0 0 0 0 2 UNCHG
SEP10 0 0 0 0 1 UNCHG
TOTAL 218,356 166 866 219,388 120,161 +5,207
-E-MINI EURO FX
SEP09 2,950 0 2 2,952 1,686 +109
DEC09 0 0 0 0 2 UNCHG
TOTAL 2,950 0 2 2,952 1,688 +109
-JAPANESE YEN
SEP09 66,771 0 1,491 68,262 73,013 -339
DEC09 7 0 0 7 184 UNCHG
MAR10 0 0 0 0 18 UNCHG
JUN10 0 0 0 0 1 UNCHG
TOTAL 66,778 0 1,491 68,269 73,216 -339
-E-MINI JAPANESE Y EN
SEP09 77 0 43 120 188 -21
DEC09 0 0 0 0 1 UNCHG
TOTAL 77 0 43 120 189 -21
-KOREAN WON
SEP09 0 0 0 0 7 UNCHG
TOTAL 0 0 0 0 7 UNCHG
-MEXICAN PESO
SEP09 10,854 358 504 11,716 56,397 +3,935
DEC09 0 0 0 0 120 UNCHG
MAR10 0 0 0 0 292 UNCHG
JUN10 0 0 0 0 1,181 UNCHG
TOTAL 10,854 358 504 11,716 57,990 +3,935
-NEW ZEALND DOLLAR
SEP09 4,499 5 2,023 6,527 22,505 -1,222
DEC09 0 5 0 5 15 UNCHG
TOTAL 4,499 10 2,023 6,532 22,520 -1,222
-RUSSIAN RUBLE
SEP09 43 0 3 46 5,913 -60
DEC09 130 0 0 130 2,283 UNCHG
MAR10 0 0 0 0 5,211 UNCHG
JUN10 414 0 0 414 2,097 +411
MAR11 0 0 0 0 838 UNCHG
DEC12 0 0 0 0 10 UNCHG
TOTAL 587 0 3 590 16,352 +351
-S.AFRICAN RAND
SEP09 38 0 17 55 4,041 +33
TOTAL 38 0 17 55 4,041 +33
-SWISS FRANC
SEP09 49,626 18 1,614 51,258 35,783 +3,079
DEC09 0 0 0 0 103 UNCHG
TOTAL 49,626 18 1,614 51,258 35,886 +3,079


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July 02, 2009 11:55 ET (15:55 GMT)


Copyright 2009 Dow Jones & Company, Inc.

Irish January-June Budget Deficit EUR14.7B Vs -EUR5.6M

Irish January-June Budget Deficit EUR14.7B Vs -EUR5.6M

DUBLIN (Dow Jones)--The Irish government said Thursday it posted a budget deficit of EUR14.7 billion for the first six months of 2009, compared with a deficit of EUR5.6 million from January to June 2008.

Tax revenue of EUR15.8 billion was EUR188 million, or 1.2%, below expectations for the period and was down 17.3% on the year. Tax revenue was EUR19.1 billion a year earlier.

"Stabilizing the public finances is a critical part of the renewal of our economy. We must pursue this course of action resolutely to allow all in society to benefit from the upturn in the global economy when it occurs," said Finance Minister Brian Lenihan.

-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=8nLUSqR%2B15oQ%2FMg2D03oHg%3D%3D. You can use this link on the day this article is published and the following day.

(END) Dow Jones Newswires

July 02, 2009 11:49 ET (15:49 GMT)


Copyright 2009 Dow Jones & Company, Inc.

CME Financials Volume And Open Interest - Jul 2

CME Financials Volume And Open Interest - Jul 2
For previous business day.
Globex --RTH Volume--
Volume Open Other Total Open
Outcry Volume Interest Change
-EURODOLLAR
JUL09 16,150 549 0 16,699 126,865 +3,552
AUG09 2,420 0 0 2,420 13,484 +1,136
SEP09 153,919 2,968 0 156,887 1,044,583 -14,166
OCT09 0 0 0 0 2,546 UNCHG
NOV09 168 0 0 168 284 +55
DEC09 212,567 3,183 0 215,750 916,362 +9,568
MAR10 274,926 7,917 0 282,843 823,671 +33,894
JUN10 259,654 2,023 0 261,677 577,394 +26,640
SEP10 301,174 23,960 5,050 330,184 489,055 +14,097
DEC10 212,111 2,103 2,000 216,214 623,680 +17,472
MAR11 145,480 2,852 2,000 150,332 347,383 +6,634
JUN11 112,255 939 2,000 115,194 325,255 +2,160
SEP11 58,094 247 0 58,341 219,010 +92
DEC11 52,986 322 0 53,308 144,981 +1,125
MAR12 43,358 313 0 43,671 104,768 +1,301
JUN12 46,982 338 0 47,320 109,418 -2,002
SEP12 14,849 455 0 15,304 66,652 +77
DEC12 10,328 450 0 10,778 57,688 +857
MAR13 8,096 349 0 8,445 65,413 -427
JUN13 8,469 356 0 8,825 33,812 -559
SEP13 4,391 244 0 4,635 40,457 +133
DEC13 4,587 261 0 4,848 30,240 +351
MAR14 3,331 189 0 3,520 25,711 +370
JUN14 2,734 188 0 2,922 18,843 -308
SEP14 225 26 0 251 9,364 -56
DEC14 177 26 0 203 6,548 +23
MAR15 159 26 0 185 5,983 +3
JUN15 47 26 0 73 5,208 +16
SEP15 305 26 0 331 4,503 +2
DEC15 46 27 0 73 5,675 +24
MAR16 203 25 0 228 6,559 +3
JUN16 72 27 0 99 1,972 +1
SEP16 0 26 0 26 2,331 +26
DEC16 35 26 0 61 3,748 -19
MAR17 0 25 0 25 2,316 -10
JUN17 0 26 0 26 1,330 -10
SEP17 0 25 0 25 1,120 -10
DEC17 0 26 0 26 1,382 UNCHG
MAR18 0 25 0 25 1,785 +15
JUN18 0 26 0 26 294 +5
SEP18 0 25 0 25 451 +10
DEC18 0 26 0 26 614 +25
MAR19 0 28 0 28 316 +25
JUN19 0 40 0 40 209 +31
TOTAL 1,950,298 50,739 11,050 2,012,087 6,269,263 +102,156
-EMINI ED
SEP09 0 0 0 0 1 UNCHG
DEC09 0 0 0 0 1 UNCHG
MAR10 0 0 0 0 1 UNCHG
JUN10 0 0 0 0 1 UNCHG
SEP10 0 0 0 0 1 UNCHG
DEC10 0 0 0 0 1 UNCHG
MAR11 0 0 0 0 1 UNCHG
JUN11 0 0 0 0 1 UNCHG
SEP11 0 0 0 0 1 UNCHG
DEC11 0 0 0 0 1 UNCHG
MAR12 0 0 0 0 1 UNCHG
JUN12 0 0 0 0 1 UNCHG
SEP12 0 0 0 0 1 UNCHG
DEC12 0 0 0 0 1 UNCHG
MAR13 0 0 0 0 1 UNCHG
JUN13 0 0 0 0 1 UNCHG
SEP13 0 0 0 0 1 UNCHG
DEC13 0 0 0 0 1 UNCHG
TOTAL 0 0 0 0 18 UNCHG
-1 MOS LIBOR
JUL09 2,448 0 0 2,448 14,517 +5,262
AUG09 273 4 0 277 4,937 -204
SEP09 224 0 0 224 8,261 +10
OCT09 0 0 0 0 1,532 UNCHG
NOV09 0 0 0 0 1,168 UNCHG
DEC09 2 0 0 2 240 +2
JAN10 0 0 0 0 303 UNCHG
FEB10 0 0 0 0 188 UNCHG
MAR10 33 0 0 33 488 UNCHG
APR10 34 0 0 34 3,488 +34
MAY10 0 0 0 0 50 UNCHG


(MORE TO FOLLOW) Dow Jones Newswires

July 02, 2009 11:45 ET (15:45 GMT)


Copyright 2009 Dow Jones & Company, Inc.

US Economic Indicators: Latest 6 Months Data-Jul 2

Thu, Jul 2 2009, 15:43 GMT
http://www.djnewswires.com/eu

US Economic Indicators: Latest 6 Months Data-Jul 2

Forecasts based on the projections from 10 economists as of Monday,
Jun 29. NA = not available. E = estimate. R = revised. **** = tentative.

--Forecast--
Date Indicators :Median : Jun May Apr Mar Feb Jan
06/30 Cnsmr Confid : 56.0: 49.3 54.8 40.8R 26.9 25.3 37.4
07/01 Constrcn Spd : : 964.0 972.5R 966.7R 970.4R 974.3R
07/01 % change : -1.0: -0.9 0.6R -0.4R -0.4R -3.7R
07/01 ISM : 45.0: 44.8 42.8 40.1 36.3 35.8 35.6
07/01 Employment : : 40.7 34.3 34.4 28.1 26.1 29.9
07/01 Prices : : 50.0 43.5 32.0 31.0 29.0 29.0
07/02 Unemply Clms : 619:[6/27 614 [6/20 R 630R ] [6/13 612]
07/02 Jobless Rate : 9.6: 9.5 9.4 8.9 8.5 8.1 7.6
07/02 Jobs (chg) : : -467 -322 -519R -652 -681 -741
07/02 Pvt (chg) : : -415 -312 -592R -648 -688 -749
07/02 Manuf(chg): : -136 -156 -150 -172 -172 -262
07/02 Factory hrs : : 2.8 2.8 2.7R 2.6 2.7 2.9
07/02 Avg Hr % chg: 0.1: 0.0 0.2 0.0R 0.2 0.2 0.2
07/02 Factory Ords : : 347.9 343.8R 341.9 348.5 346.1
07/02 % change : 1.2: 1.2 0.5R -1.9 0.7 -3.5
07/02 Unfill Order: : 747.3 749.1R 757.7 770.9 784.0
07/02 % change : : -0.2 -1.1R -1.7 -1.7 -2.0
07/08 Consumr Crdt : : 2551.1 2562.2R 2570.3R
07/08 change : NA : -11.1 -8.1R 7.0R
07/09 Wholesale Inv: : 405.4 411.1R 418.5 425.9
07/09 % change : NA : -1.4 -1.8R -1.7 -0.3
07/09 Invty-Sales: : 1.31 1.32 1.31 1.34
07/10 Trade Balnce : NA : -29.16 -28.53R -26.1R -36.6R
07/10 Goods Balnce: NA : -40.1 -39.2R -37.2R -47.6R
07/10 Imports : : 150.3 152.5R 152.5R 161.5R
07/10 Exports : : 121.1 123.9R 126.4R 125.0R
07/13 Trsy Budget : NA : -189.7 -20.9 -191.6R 193.9R -63.5R
07/14 PPI : : 170.8 169.9 168.9 170.1 170.4R
07/14 % change : NA : 0.2 0.3 -1.2 0.1 0.8
07/14 % 12-mo chg: : -5.0 -3.7 -3.5 -1.3 -1.0
07/14 PPI Core : : 171.1 171.3 171.4 171.6 171.3
07/14 % change : NA : -0.1 0.1 0.0 0.2 0.2
07/14 Retail Sales : : 340.0 338.4 339.2R 343.4 342.0
07/14 % change : NA : 0.5 -0.2 -1.2R 0.4 1.7
07/14 Ex-Auto : : 284.7 283.4 284.0R 287.0 284.0
07/14 % change : NA : 0.5 -0.2 -1.1R 1.1 1.4
07/14 Busin Invty : : 1,385 1,400R 1,418 1,438
07/14 % change : NA : -1.1 -1.3R -1.4 -1.2
07/14 % mfg chg : : -1.0 -1.2R -1.3 -1.1
07/15 CPI : : 213.9 213.2 212.7 212.2 211.1
07/15 % change : NA : 0.1 0.0 -0.1 0.4 0.3
07/15 % 12-mo chg: : -1.3 -0.7 -0.4 0.2 0.0
07/15 CPI Core : : 219.1 219.1 218.6 217.7 216.7
07/15 % change : NA : 0.1 0.3 0.2 0.2 0.2
07/15 Real Earnings: : -0.3 0.4 -0.2R -0.3 -0.2
07/15 Industl Prod : : 95.8 96.9 97.6 99.4R 100.2R
07/15 % change : NA : -1.1 -0.7 -1.8R -0.8R -2.1
07/15 Capacty Util: NA : 68.3 69.0 69.4 70.7R 71.2R
07/17 Hsg Starts : NA : 0.532 0.454 0.521R 0.574 0.488
07/17 % change : : 17.2 -12.9 -9.2R 17.6 -12.2
07/17 Permits : NA : 0.518 0.498 0.511 0.550 0.531
07/17 % change : : 4.0 -2.5 -7.1 3.6 -5.9
07/20 LEI : : 100.2 99.0 97.9R 98.2R 98.9
07/20 % change : NA : 1.2 1.1 -0.3R -0.7R 0.1
07/23 Exist Hm Sls : NA : 4.77 4.66 4.55 4.71 4.49
07/23 % change : : 2.4% 2.4% -3.4% 4.9% -5.3%
07/27 S/F Home Sls : NA : 342 344 335R 354R 329
07/27 % change : : -0.6% 2.7% -5.4%R 7.6%R -12.0%
07/28 Pre Stl Imp : : -16.0 -19.3 -3.1 -33.7 17.9
07/29 Durable Gds : 615.0: 163.9 161.1 158.3R 161.8 159.2
07/29 % change : NA : 1.8 1.8 -2.2R 1.6 -7.8
07/29 NonDef Captl: : 53.8 48.9 50.4R 50.9 48.6
07/29 % change : : 10.0 -2.9 -1.0R 4.7 -9.9
07/31 ECI : NA :[Q1 09 0.3 [Q4 08 0.6][Q3 08 0.6]
07/31 ECI Annual : NA :[Q1 09 2.1 [Q4 08 2.6][Q3 08 2.9]
07/31 GDP Annual % : NA :[Q1 09 -5.5R [Q4 08 -6.3 ][Q3 08 -0.5]
07/31 Final Sales%: NA :[Q1 09 -6.4R [Q4 08 -9.9 ][Q3 08 2.2]
07/31 PCE Defltr % NA :[Q1 09 1.4R [Q4 08 -4.3 ][Q3 08 -3.8 ]
07/31 Prc Defltr %: NA :[Q1 09 2.8 [Q4 08 0.6 ][Q3 08 3.9]
07/31 Chnd Wt Prc%: :[Q1 09 2.8 [Q4 08 0.5 ][Q3 08 3.9]
08/04 Personal Inc : :12,261 12,094 12,015 12,048R 12,083R 12,084
08/04 % change : NA : 1.4 0.7 -0.3R -0.3R 0.0R
08/04 PCE : : 9,961 9,936 9,935R 9,960R 9,921R
08/04 % change : NA : 0.3 0.0 -0.3R 0.4R 0.9R
08/11 Prod & Costs%: NA :[Q1 08 1.8R [Q4 08 -0.5][Q3 08 2.3]
08/11 Unit Labor%: NA :[Q1 08 2.7R [Q4 08 5.4][Q3 08 3.3]
08/27 Corp Profit%: :[Q1 09 1.4R [Q4 08 -10.7][Q3 08 -0.5R ]
09/16 Current Acct : :[Q1 09 -$101.5 [Q4 08 -$154.9][Q3 08 -$184.2]
-By Rodney Christian; Dow Jones Newswires; 202-646-1880;
csstat@dowjones.com
Related fixed stories:
84697 US Economic Indicators: Latest 6 months data
80055-57 US Economic Calendar


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(END) Dow Jones Newswires

July 02, 2009 11:43 ET (15:43 GMT)


Copyright 2009 Dow Jones & Company, Inc.

BOE To Buy GBP3.5 Billion Gilts Monday, GBP3.0 Billion Wednesday Via APF

Thu, Jul 2 2009, 15:30 GMT
http://www.djnewswires.com/eu

BOE To Buy GBP3.5 Billion Gilts Monday, GBP3.0 Billion Wednesday Via APF

LONDON -(Dow Jones)- The Bank of England said Thursday that it will buy a total of GBP6.5 billion of U.K. government bonds, or gilts, next week via its Asset Purchase Facility.

The BOE will conduct a GBP3.5 billion reverse auction of eligible gilts maturing in the 2020 to 2032 range Monday, with a GBP3 billion operation covering 2015 to 2019 maturities scheduled for Wednesday.

Last month, the BOE's Monetary Policy Committee decided to keep the size of its quantitative easing program - through which it is buying bonds with freshly created central bank money - at GBP125 billion and to leave its key interest rate at 0.5%.

As of last Friday, the BOE had bought GBP99.1 billion of securities through the APF.

-By Nicholas Winning and Laurence Norman, Dow Jones Newswires; +44 207 842 9498; nick.winning@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=8nLUSqR%2B15oQ%2FMg2D03oHg%3D%3D. You can use this link on the day this article is published and the following day.

(END) Dow Jones Newswires

July 02, 2009 11:30 ET (15:30 GMT)


Copyright 2009 Dow Jones & Company, Inc.

US Factory Orders-STATS-Historical, Shpmts, Unfilled, Invty

US Factory Orders-STATS-Historical, Shpmts, Unfilled, Invty

(NOTE: See New Orders historical data in story no. 84733)

Seasonally adjusted data in millions of dollars. R denotes revised.
Source: U.S. Commerce Department.

-SHIPMENTS- -UNFILLED ORDERS- -INVENTORIES-
Mo Ago Yr Ago Mo Ago Yr Ago Mo Ago Yr Ago
Month Level % chg % chg: Level % chg % chg : Level % chg % chg
May 09 353,334 -0.9 -21.0: 747,289 -0.2 -7.8 : 513,329 -0.6 -6.5
Apr 09 356,430 -0.5 -20.1: 749,081 -1.1 -6.7 : 516,545 -1.2 -5.3
Mar 09 358,073 -1.8 -17.6: 757,692 -1.7 -4.9 : 522,662 -1.2 -4.2
Feb 09 364,479 -0.5 -15.1: 770,939 -1.7 -2.0 : 528,920 -1.3 -2.2
Jan 09 366,366 -2.6 -16.3: 783,955 -2.0 0.8 : 535,850 -1.1 -0.3
Dec 08 375,980 -3.3 -13.2: 800,360 -1.5 3.5 : 541,986 -1.9 2.1
Nov 08 388,928 -6.5 -10.7: 812,879 -0.9 7.6 : 552,253 -0.5 4.9
Oct 08 415,900 -3.6 -2.7: 820,672 -0.9 9.7 : 554,990 -0.6 6.2
Sep 08 431,492 -3.1 2.2: 828,225 0.2 11.8 : 558,296 -0.8 7.0
Aug 08 445,455 -3.7 5.2: 826,529 0.3 12.8 : 562,781 0.7 8.6
Jul 08 462,379 1.4 7.1: 824,232 0.8 13.7 : 559,070 0.6 7.8
Jun 08 455,873 1.9 7.8: 818,023 1.0 15.4 : 555,627 1.2 7.3
May 08 447,411 0.3 4.9: 810,293 0.9 15.8 : 548,825 0.6 6.2
Apr 08 446,031 2.7 5.5: 802,972 0.7 15.8 : 545,633 0.0 6.0
Mar 08 434,378 1.1 4.0: 797,114 1.3 17.1 : 545,791 0.9 6.4
Feb 08 429,531 -1.9 4.4: 786,860 1.2 17.3 : 540,675 0.6 5.5
Jan 08 437,643 1.1 7.1: 777,859 0.6 17.1 : 537,497 1.3 4.9
Dec 07 433,063 -0.6 3.2: 773,297 2.3 17.1 : 530,664 0.8 3.7
Nov 07 435,555 1.9 6.0: 755,712 1.0 15.6 : 526,439 0.7 2.9
Oct 07 427,623 1.3 4.6: 748,304 1.0 16.3 : 522,777 0.1 2.5
Sep 07 422,225 -0.3 2.8: 740,534 1.0 16.2 : 521,995 0.8 2.8
Aug 07 423,435 -1.9 -0.7: 732,889 1.1 19.5 : 518,057 -0.1 2.8
Jul 07 431,756 2.1 2.2: 724,733 2.2 18.0 : 518,644 0.1 3.5
Jun 07 422,938 -0.8 -0.8: 708,841 1.3 16.8 : 517,956 0.2 4.4
May 07 426,330 0.9 0.0: 699,668 0.9 17.0 : 516,996 0.4 5.2
Apr 07 422,726 1.2 1.3: 693,329 1.9 16.5 : 514,686 0.3 5.6
Mar 07 417,629 1.5 -0.4: 680,483 1.4 15.8 : 512,988 0.1 6.2
Feb 07 411,584 0.7 -0.8: 670,877 1.0 16.8 : 512,706 0.1 7.1
Jan 07 408,610 -2.6 -2.4: 664,272 0.6 16.9 : 512,189 0.1 7.0
Dec 06 419,663 2.2 0.7: 660,406 1.0 15.3 : 511,487 0.0 8.2
Nov 06 410,829 0.5 0.3: 653,650 1.6 16.0 : 511,609 0.3 9.0
Oct 06 408,628 -0.5 0.4: 643,221 1.0 17.6 : 510,028 0.5 9.3
Sep 06 410,821 -3.6 1.5: 637,063 3.9 18.2 : 507,632 0.7 9.8
Aug 06 426,221 0.8 6.9: 613,391 -0.1 14.8 : 504,079 0.6 9.2
Jul 06 422,650 -0.9 8.1: 614,072 1.1 16.6 : 500,974 0.9 8.5
Jun 06 426,294 0.0 9.0: 607,100 1.5 16.4 : 496,334 1.0 8.4
May 06 426,125 2.1 9.8: 598,148 0.5 18.0 : 491,256 0.7 7.6
Apr 06 417,258 -0.5 7.6: 595,079 1.2 20.2 : 487,600 1.0 6.7
Mar 06 419,491 1.1 8.3: 587,745 2.3 18.6 : 482,900 0.9 6.0
Feb 06 415,090 -0.8 9.2: 574,322 1.1 15.3 : 478,575 0.0 5.9
Jan 06 418,485 0.4 9.9: 568,234 -0.8 14.9 : 478,608 1.2 7.0
Dec 05 416,683 1.7 11.0: 572,835 1.6 15.4 : 472,860 0.8 7.3
Nov 05 409,711 0.7 9.8: 563,554 3.0 13.4 : 469,304 0.5 6.6
Oct 05 406,903 0.5 10.3: 546,980 1.5 11.2 : 466,827 1.0 7.4
Sep 05 404,787 1.5 11.4: 539,073 0.9 9.3 : 462,324 0.2 7.4
Aug 05 398,861 2.0 10.1: 534,449 1.5 8.7 : 461,411 0.0 7.4
Jul 05 391,130 0.0 9.5: 526,765 1.0 6.9 : 461,583 0.8 8.3
Jun 05 391,171 0.8 9.7: 521,648 2.9 7.0 : 457,820 0.2 8.3
May 05 388,071 0.1 10.1: 506,868 2.4 4.3 : 456,706 0.0 9.1
Apr 05 387,625 0.1 10.0: 494,901 -0.1 2.3 : 456,878 0.3 10.1
Mar 05 387,240 1.9 9.3: 495,425 -0.5 2.7 : 455,665 0.8 10.3
Feb 05 379,951 -0.2 12.0: 497,952 0.6 4.3 : 451,939 1.0 9.9
Jan 05 380,836 1.4 12.2: 494,758 -0.3 4.0 : 447,366 1.5 9.6
Dec 04 375,496 0.6 10.0: 496,343 -0.1 3.9 : 440,697 0.1 7.9
Nov 04 373,078 1.1 9.8: 496,962 1.0 4.8 : 440,048 1.2 7.6
Oct 04 368,982 1.6 8.1: 492,038 -0.2 4.7 : 434,635 1.0 6.0
Sep 04 363,220 0.3 6.9: 493,244 0.3 6.2 : 430,452 0.2 4.9
Aug 04 362,297 1.4 9.2: 491,893 -0.2 6.0 : 429,747 0.8 4.1
Jul 04 357,137 0.2 5.8: 492,742 1.1 6.8 : 426,216 0.9 2.9
Jun 04 356,599 1.2 7.4: 487,465 0.3 5.3 : 422,564 1.0 1.2
May 04 352,370 0.0 7.4: 485,770 0.4 5.2 : 418,482 0.8 -0.4
Apr 04 352,424 -0.5 7.7: 483,837 0.3 4.9 : 414,991 0.4 -1.7
Mar 04 354,351 4.5 5.5: 482,462 1.1 4.7 : 413,188 0.5 -2.3
Feb 04 339,254 -0.1 2.0: 477,280 0.3 3.6 : 411,076 0.7 -3.3
Jan 04 339,559 -0.5 3.0: 475,897 -0.4 3.7 : 408,249 0.0 -3.1
Dec 03 341,265 0.4 5.0: 477,608 0.8 3.4 : 408,304 -0.2 -3.5
Nov 03 339,743 -0.4 3.1: 474,027 0.8 1.5 : 408,942 -0.3 -2.6
Oct 03 341,230 0.4 3.1: 470,141 1.3 -0.3 : 410,125 0.0 -2.4
Sep 03 339,779 2.4 2.9: 464,236 0.1 -2.8 : 410,318 -0.6 -2.3
Aug 03 331,713 -1.8 0.7: 463,833 0.5 -4.3 : 412,857 -0.3 -1.4
Jul 03 337,663 1.7 3.6: 461,536 -0.3 -4.6 : 414,168 -0.8 -0.8
Jun 03 332,100 1.2 1.4: 462,950 0.2 -4.4 : 417,365 -0.7 0.1
May 03 328,149 0.3 -0.2: 461,881 0.1 -6.4 : 420,236 -0.4 1.0
Apr 03 327,316 -2.5 0.7: 461,257 0.1 -7.2 : 422,041 -0.2 1.1
Mar 03 335,788 1.0 3.8: 460,615 0.0 -8.2 : 422,929 -0.5 1.2
Feb 03 332,602 0.9 3.9: 460,642 0.4 -8.7 : 425,169 0.9 1.2
Jan 03 329,672 1.4 2.6: 458,965 -0.7 -9.0 : 421,282 -0.4 -0.9
Dec 02 324,964 -1.4 0.8: 462,122 -1.0 -10.2 : 423,133 0.8 -1.2
Nov 02 329,487 -0.4 3.1: 466,839 -1.0 -10.1 : 419,927 -0.1 -3.3
Oct 02 330,948 0.2 3.2: 471,373 -1.3 -10.1 : 420,403 0.1 -4.5
Sep 02 330,331 0.3 3.0: 477,547 -1.5 -8.4 : 420,077 0.4 -5.6
Aug 02 329,305 1.1 -0.4: 484,740 0.2 -8.0 : 418,554 0.3 -6.9
Jul 02 325,855 -0.5 -0.6: 483,995 -0.1 -8.9 : 417,505 0.1 -8.1
Jun 02 327,525 -0.4 -0.9: 484,452 -1.8 -9.5 : 417,107 0.2 -9.3
May 02 328,827 1.2 -3.2: 493,400 -0.7 -8.1 : 416,209 -0.3 -10.6
Apr 02 325,085 0.5 -1.9: 496,790 -0.9 -7.9 : 417,622 0.0 -11.2
Mar 02 323,526 1.1 -4.8: 501,523 -0.6 -7.5 : 417,737 -0.6 -11.6
Feb 02 320,138 -0.4 -7.6: 504,319 -0.1 -6.9 : 420,193 -1.2 -12.0
Jan 02 321,264 -0.3 -6.4: 504,633 -1.9 -7.6 : 425,219 -0.7 -12.0
Dec 01 322,274 0.9 -7.9: 514,349 -0.9 -6.4 : 428,113 -1.4 -11.1
Nov 01 319,550 -0.3 -7.9: 519,174 -1.0 -5.3 : 434,143 -1.3 -10.0
Oct 01 320,664 0.0 -8.1: 524,522 0.6 -3.6 : 440,017 -1.1 -8.3
Sep 01 320,662 -3.0 -9.6: 521,595 -1.0 -4.4 : 444,788 -1.1 -6.9
Aug 01 330,554 0.8 -5.0: 526,959 -0.8 -2.4 : 449,772 -1.0 -5.8
Jul 01 327,846 -0.8 -6.6: 531,190 -0.7 -1.3 : 454,507 -1.2 -4.5
Jun 01 330,442 -2.7 -6.9: 535,029 -0.4 -0.5 : 459,925 -1.2 -2.9
May 01 339,654 2.5 -3.0: 536,957 -0.4 5.3 : 465,528 -1.0 -0.9
Apr 01 331,244 -2.5 -6.7: 539,206 -0.5 5.4 : 470,031 -0.5 0.1
Mar 01 339,752 -1.9 -2.4: 542,185 0.1 6.0 : 472,451 -1.1 1.3
Feb 01 346,329 0.9 1.5: 541,701 -0.8 6.3 : 477,694 -1.1 2.4
Jan 01 343,214 -1.9 -2.6: 546,064 -0.6 6.9 : 483,251 0.3 4.2
Dec 00 349,908 0.9 1.6: 549,445 0.2 8.7 : 481,673 -0.2 3.9
Nov 00 346,824 -0.6 0.8: 548,222 0.8 10.1 : 482,452 0.5 4.8
Oct 00 348,822 -1.7 2.1: 543,945 -0.4 8.9 : 480,005 0.5 5.2
Sep 00 354,838 2.0 4.7: 545,860 1.1 10.2 : 477,656 0.0 5.1
Aug 00 347,893 -0.9 2.2: 539,927 0.3 9.5 : 477,596 0.3 5.6
Jul 00 350,966 -1.2 4.9: 538,130 0.1 9.0 : 476,004 0.5 5.4
Jun 00 355,102 1.4 6.3: 537,691 5.5 9.6 : 473,759 0.8 5.4
May 00 350,320 -1.3 4.8: 509,821 -0.3 3.3 : 469,808 0.0 4.4
Apr 00 355,110 2.0 7.6: 511,526 0.0 3.2 : 469,712 0.7 4.8
Mar 00 348,281 2.1 5.7: 511,341 0.3 2.7 : 466,570 0.0 4.0
Feb 00 341,127 -3.2 2.4: 509,605 -0.2 2.5 : 466,400 0.5 4.4
Jan 00 352,341 2.3 7.4: 510,755 1.0 2.6 : 463,859 0.1 3.8
-By Rodney Christian; Dow Jones Newswires; (202) 646-1880;
csstat@dowjones.com


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July 02, 2009 11:15 ET (15:15 GMT)


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