Daily Outlook - Cyprus Bailout Deal Rocks Europe, USD and JPY Become Safe Havens - page 2

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New Eurogroup President Jeroen Dijsselbloem Puts His Foot Firmly in His Mouth Again

Jeroen Dijsselbloem, the head of the Eurogroup in Brussels has a real case of foot in mouth. The Dutch Finance Minister who has only been in the job since later January after he replaced Jean-Claude Juncker has already managed to move markets several times with silly comments which he later took blame for and backtracked.

The first time was last week when answered a reporter’s question about the future of tax levys on depositors accounts under the EUR100,000 threshold.

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Daily analysis: US Home Sales Price at Highest Level in 7 Years – Asian Stocks Up

Very strong data coming from the US pushed up US and Asian Stocks and give a rosy outlook for US economy. The house prices in the US are at their highest level since 2006. Durable goods orders too exceeded expectation. Sales of long lasting products went up by 5.7 per cent in Feb which is the....

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Daily Analysis: Markets Jittery over Italy and Cyprus Concerns

Investors jittery over Cyprus and Italy. Italian leader Pier Luigi Bersani unable to create a coalition government after talks on Wednesday with rival leaders finished with no agreement. He made the markets jittery with his comment that only an “insane person” would now want to run Italy.

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Daily Analysis: Weak Data from Eurozone and the US

All markets reopened after the Easter holidays to a mixed bag. Weak manufacturing data came from the US as the ISM Index for last month fell to 51.3 from 54.2 in Feb. Although this was below expectations that the index would stay unchanged it’s not a concern as it is still over the 50 threshold which is an indication of a growing economy. Meanwhile support for the JPY ahead of new BOJ Governor Kuroda’s first assembly to cover Japanese Monetary policy.

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New Record Highs For The Dow Jones and the S&P

Very strong data coming out of China and the anticipation of the Bank of Japan policy meeting on Thursday have fueled trading volume in Asia. It has also taken the Asian stocks too new heights. Yesterday was a strong trading session in the US where the DJIA and S&P reached record highs.

The turnaround yesterday came after data releases from US dept. Commerce that new orders for manufactured products gained 3 per cent in Feb which exceeded market estimations. This data led by positive orders from car companies Ford, GM and Chrysler, further helped buoy the shares into the uptrend. The Dow has now firmly recovered and even doubled from the damage it suffered during the heart of the financial crisis.

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Daily Analysis: Bank of Japan Unveils Agressive Stimulus, YEN Declines Sharply

The Bank of Japan 2-day policy meeting is over and the results are eagerly awaited to find out if there will be an aid to Japan’s troubling financial situation. Japan has been suffering from a very strong currency and as a result its exports have been very expensive. The results of the meeting: Haruhiko Kuroda the Governor of the Bank of Japan will as expected implement a host of measures to stimulate the economy. Firstly the Bank will trump up an asset buying program with the intention to meet an inflation rate of 2% within the next 2 years. The BOJ will also purchase longer term government bonds and double its acquisition of ETF’s and longer term bonds. Governor Kuroda was nominated by the Prime Minister Shinzo Abe (himself newly appointed in his position) as the PM had been outspoken about the need for the BOJ to offer further aid to the Japanese economy. This prompted the Yen to get weaker by 1.5 per cent against the USD.

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Yen Weakens and the Nikkei Soars

The markets opened with strong reactions to the disappointing US jobs data release on Friday and to the new stimulus measures in Japan. The reaction to these aggressive measures has clearly gone down well with market players as the Yen continues to weaken. It’s now at its weakest level since 2008. The new governor of the Bank of Japan Haruhiko Kuroda has been praised for his insight into the global markets reaction to his policy.

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Weekly analysis: Disappointing Jobs Data Gives Negative Picture of US Economy

The release of some negative jobs data pushed the US stocks markets down at the end of last week. This happened at the same time as the Japanese Nikkei 225 saw its highest level since the heart of the financial crisis in 2008.

The surprising data beggars some questions about the health of the US economy such as this a direct impact from the forced budget cuts which started in March. It seems to have already an impact on the confidence levels of US businesses. The data adds 88,000 non farm payrolls for last month which is far below the expected figure of 200,000 new jobs. This is also a huge drop from February where 268,000 jobs were added. The weak data comes mostly from the retail employment sector with 24,000 jobs lost there last month. Currently the number of unemployed people in the US stands at 11.7 million. The weak jobs data got the US talking about further stimulus packages to help the economy. This in turn will boost stock prices in the region.

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Daily Analysis: Chinese Data Swings Market after Nikkei Hits 5 year Highs

Busy overnight session with lots of volatility. The Nikkei 225 continued its upwards trend towards its 5 year high. On the other side, the Japanese Yen had fallen to its lowest point since 2008. This came before the Chinese PPI data release from the National Bureau of Statistics which shows that the nations PPI declined 1.9 per cent in Mar as compared to the previous year. This comes after a 1.6 per cent drop in Feb. Analysts had estimated a 2per cent fall. Meanwhile China’s CPI dropped to-0.9 per cent which was a harder fall than investor expectation of -0.6per cent. The CPI had risen 2.1 per cent since the same time last year which

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Asian Stocks On 3rd Day Streak

Asian stocksAsian stocks were higher in overnight trading, making it three days in a row, as Chinese data and continued expectations for global central bank stimulus boosted investor confidence. In the world’s second largest economy, imports in China increased 14.1% in March from 2012, considerably surpassing the expected increase of 6% after February showed a drop of 15.2%. Tempering the good news was the export figure. Official data released showed that exports increased 10% from the previous year in March, lower than the expected increase of 11.7% gain and far lower than the 21.8% increase recorded in February. This now leaves China with an $884 million trade deficit after February registered a $15.3 billion surplus.

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