International News 12th May 2011
Most global investors predict China’s yuan will be convertible into other currencies by 2016, with 50 percent seeing it joining the dollar, yen and euro as a reserve currency within a decade, a Bloomberg poll indicated. Fifty-seven percent of 1,263 Bloomberg customers surveyed who are investors, traders or analysts, including 58 [...]
Dollar supported after previous day’s slide in oil prices
* Euro hurt by lingering debt problems, hits 7-week low vs GBP
* Aussie dollar tumbles to 1-week low after surprisingly weak job data
TOKYO, May 12 (Reuters) – The dollar dipped but held near a three-week high against a basket of currencies on Thursday as a rout in [...]
International Report 10th May 2011
Less than a year after the worst drought in a generation destroyed one-third of Russia’s wheat crop and sent global food prices surging, more adverse weather is damaging fields from North America to Europe to Asia. Corn planting in the U.S., the world’s largest grower, is advancing at half of last [...]
Moving in line with the equity market, the rupee advanced by another 10 paise to 44.62 per US dollar in the early trade today on persistent selling of the American currency by banks and corporates on the back of fresh capital inflows from foreign funds.
At the Interbank Foreign Exchange, the rupee resumed higher at 44.65/66 [...]
Australian and Asian Report 6th May 2011
Asian markets are trading lower this morning, following lower commodity prices. In Japan, exporters, Toyota Motor and Canon traded lower, as the yen strengthened against the dollar. Shares of Honda Motor came under selling pressure, after the National Business Daily reported that the company suspended its production at a [...]
Australian and Asian Report 4th May 2011
Asian markets are trading lower this morning, as risk appetite decreased among investors, following speculation that China would undertake further monetary tightening measures. In Hong Kong, China Vanke and China Citic Bank, traded lower, as the China Securities Journal stated that the Chinese central bank would raise lenders’ reserve [...]
Australian and Asian Report 3rd May 2011
Asian markets are trading mixed this morning, as gains due to the reduction of geopolitical anxieties following the death of Osama bin Laden, were offset by losses due to a fall in oil and metal prices. In Hong Kong, shares of Cnooc traded higher, after Goldman Sachs reiterated its [...]
Austalian and Asian report 26th April 2011
Asian markets are trading lower this morning, affected by lower commodity prices and disappointing company updates. In Japan, shares of Nintendo and Nidec slumped, after the both the companies’ projection of net income came below market expectations. Automakers, Toyota and Honda Motor traded lower, as S&P cut its outlook [...]
Australian and Asian Report 21st April 2011
Asian markets are trading higher this morning, as positive earnings reports from a spate of major US companies spurred optimism in the global economic recovery. In Japan, technology stocks, Sony and Renesas Electronics, traded higher, as their US peer, Qualcomm, reported profit which topped market expectations. Nissan Motor rose, [...]
Australian and Asian Report 20th April 2011
Asian markets are trading higher this morning, on hopes of a faster global economic recovery, after US housing starts data and corporate earnings reports exceeded market expectations. In Japan, chip makers, Advantest and Tokyo Electron, traded higher, after their US peer, Intel, projected higher-than-expected quarterly revenues. Exporters, Fanuc and [...]