GBP Rises After Strong UK PMI

via MarketPulse:

The pound has hit a near five-year high against the dollar after a survey suggested that UK manufacturing grew faster than expected in April.

Sterling hit $1.6921, before falling back to $1.6906, and against the euro it rose 0.1% to 1.2184 euros.

The gains came after the Markit/CIPS Manufacturing Purchasing Managers’ Index (PMI) ticked up to 57.3 from a revised 55.8 in March.

A figure above 50 indicates expansion, and economists had expected 55.4.

The PMI figure, the highest for five months, maintained the sector’s “robust start to the year”, CIPS said.

“Growth improved across the consumer, intermediate and investment goods sectors, as companies responded to rising new order inflows, new product launches and efforts to clear backlogs of work,” it added.

Rob Dobson, senior economist at Markit, said the survey suggested that manufacturers were creating jobs at a pace of about 10,000 a month at present, with employment in the sector expanding for the 12th month in a row.

via BBC

For more info: GBP Rises After Strong UK PMI

MarketPulse

GBP Rises After Strong UK PMI

The post GBP Rises After Strong UK PMI appeared first on FX FOREX.

via WordPress http://ift.tt/1nMmZMz



Forex, forex, forex news round up, gbp

Oil Rises With Ukraine On the Radar

via MarketPulse:

West Texas Intermediate crude rebounded from the lowest close in almost three weeks as the U.S. said it will toughen sanctions on Russia, the biggest energy exporter, over the Ukraine crisis. Brent was steady as Libya lifted force majeure at one of its ports.

Futures advanced as much as 0.9 percent in New York. The U.S. will impose new sanctions today on people and companies close to Russian leader Vladimir Putin, President Barack Obama said. Among those that may be targeted are Igor Sechin, chief executive officer of OAO Rosneft, the country’s biggest oil producer, people familiar with developments said. Libya’s National Oil Corp. will lift a suspension of exports at the port of Zueitina, previously under rebel control, from today.

“The price is being supported by uncertainty as to the breadth and impact of sanctions taken against Russia,” Christopher Bellew, a senior broker at Jefferies Bache Ltd. in London, said by e-mail. “Another important consideration is how Russia might retaliate against sanctions.”

WTI for June delivery rose as much as 92 cents to $101.52 a barrel in electronic trading on the New York Mercantile Exchange, and traded for $101.17 at 1:47 p.m. London time. Prices dropped 1.3 percent to $100.60 on April 25, the lowest settlement since April 7. The volume of all futures traded was about 8.5 percent below the 100-day average for the time of day.

Brent for June settlement pared gains of as much as 62 cents to $110.20 a barrel on the London-based ICE Futures Europe exchange, trading for $109.62 at 1:49 p.m. London time. The contract closed at $109.58 on April 25, down 0.7 percent, the biggest decline since April 7.

via Bloomberg

The post Oil Rises With Ukraine On the Radar appeared first on MarketPulse.

For more info: Oil Rises With Ukraine On the Radar

MarketPulse

Oil Rises With Ukraine On the Radar

The post Oil Rises With Ukraine On the Radar appeared first on FX FOREX.

via WordPress http://ift.tt/QR9kGc



Forex, commodities, forex, forex news round up, trading

IMF Warns Europe About Banking System Threat

via MarketPulse:

The eurozone’s creaking banking system poses a serious threat to global financial stability, according to the International Monetary Fund which warned European leaders to accelerate plans to support weak banks and create a banking union.

In a report that forecasts a “goldilocks” outcome of stable growth, IMF financial counsellor José Viñals said the end of low interest rates in the US, coupled with a failure by the Obama administration to monitor risky lending, a sharp slowdown in China and disruption to emerging markets could all upset expectations of a smooth recovery.

“Can the US make a smooth exit from unconventional policies? I call this the ‘Goldilocks exit’ – not too hot, not too cold, just right.

This is our base line, most likely outcome. After a turbulent start, the normalisation of monetary policy has begun. But a bumpy exit is possible.”

He said the eurozone’s incomplete repair of bank and corporate balance sheets continued to place a drag on the recovery, while the widening gap between Germany and the poorest of the 18 member states was restricting the flow of funds around the currency zone and hampering the growth of smaller businesses. “Thus, further efforts must be made to strengthen bank balance sheets, through the European comprehensive bank assessment and follow-up, and to tackle the corporate debt overhang,” he said.

The IMF, which published the global financial stability report on Wednesday, acts as lender of last resort to bankrupt countries and is one of many economic organisations to worry about the effects on global growth of the US attempting to behave as if the recovery is complete when many countries are still struggling to cope with the aftershocks.

via The Guardian

The post IMF Warns Europe About Banking System Threat appeared first on MarketPulse.

For more info: IMF Warns Europe About Banking System Threat

MarketPulse

IMF Warns Europe About Banking System Threat

The post IMF Warns Europe About Banking System Threat appeared first on FX FOREX.

via WordPress http://ift.tt/1ixhhrI



Forex, eur, forex, forex news round up

Asian Stocks Mostly Higher Ahead Of HSBC Chinese PMI

via MarketPulse:

Asian stocks rose, with the regional benchmark index paring last week’s losses, as Japanese markets reopened ahead of a private gauge of factory production in China.

Japan’s Topix (TPX) index gained 1.2 percent after a three-day weekend. Macquarie Group Ltd. gained 3.6 percent as Australia’s biggest investment bank said it expects full-year earnings to rise as much as 45 percent. Yamato Holdings Co., a parcel delivery company, surged 4.9 percent in Tokyo on a report it will form a tie with China Post Group.

The MSCI Asia Pacific Index rose 0.5 percent to 133.43 as of 9:22 a.m. in Tokyo after declining 1.2 percent last week. The MSCI Asia Pacific excluding Japan Index gained 0.1 percent.

A China purchasing managers’ index released today by HSBC Holdings Plc and Markit Economics is projected to signal a third straight month of contraction in the manufacturing sector.

Bloomberg

Get OANDA’s exclusive weekly Market Pulse FX

Email Address:

Preferred Format:

HTML Text

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

The post Asian Stocks Mostly Higher Ahead Of HSBC Chinese PMI appeared first on MarketPulse.

For more info: Asian Stocks Mostly Higher Ahead Of HSBC Chinese PMI

MarketPulse

Asian Stocks Mostly Higher Ahead Of HSBC Chinese PMI

The post Asian Stocks Mostly Higher Ahead Of HSBC Chinese PMI appeared first on FX FOREX.

via WordPress http://ift.tt/1isRN05



Forex, aud, cny, forex, forex news round up, jpy, sgd, trading

Trade Confidence In Singapore Highest Since 2012

via MarketPulse:

A half-yearly survey by HSBC showed that Singapore’s trade confidence is at its highest level in two years.

The HSBC Trade Confidence Index for the second half of 2013 came in at 115.

This is a jump of ten points from the previous survey, and also exceeds the overall index for Asia which stands at 112.

The increased optimism comes on the back of an improving global outlook.

The survey showed that 50 per cent of exporting firms in Singapore that observed increasing volumes attributed the growth to better global demand.

The survey also showed that 82 per cent of respondents believe that emerging markets in Asia are Singapore’s most promising trade areas over the next six months, compared with 74 per cent six months ago.

ChannelNewsAsia

Get OANDA’s exclusive weekly Market Pulse FX

Email Address:

Preferred Format:

HTML Text

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

The post Trade Confidence In Singapore Highest Since 2012 appeared first on MarketPulse.

For more info: Trade Confidence In Singapore Highest Since 2012

MarketPulse

Trade Confidence In Singapore Highest Since 2012

The post Trade Confidence In Singapore Highest Since 2012 appeared first on FX FOREX.

via WordPress http://ift.tt/1j408q1



Forex, forex, forex news round up, sgd, trading

China Puts Priority On Jobs Not Growth

via MarketPulse:

China’s finance minister said Thursday that creating jobs is the government’s priority this year and economic growth below the official target of 7.5 percent might be acceptable.

The economic target announced this week is “about 7.5 percent,” which could mean growth might be lower than that, Lou Jiwei said at a news conference during the annual meeting of China’s legislature.

Wednesday’s announcement that the growth target would be kept at last year’s level raised questions about whether Beijing can achieve it while also carrying out ambitious economic reforms. Some analysts suggested the government might have to cut interest rates or take other steps to shore up growth, temporarily setting back efforts to make the economy more market-oriented.

“If this year’s economic growth isn’t 7.5 percent – it is 7.3 percent or 7.2 percent – does that count as about 7.5 percent? It can count,” Lou said. “Employment is our most important goal.”

The employment target, also announced Wednesday, calls for 10 million new urban jobs this year, and Lou said the economy might be able to create as many as 13 million.

China’s economic growth tumbled to a two-decade low of 7.7 percent last year. The International Monetary Fund and private sector forecasters expect growth of about 7.5 percent this year.

via Mainichi

The post China Puts Priority On Jobs Not Growth appeared first on MarketPulse.

For more info: China Puts Priority On Jobs Not Growth

MarketPulse

China Puts Priority On Jobs Not Growth

The post China Puts Priority On Jobs Not Growth appeared first on FX FOREX.

via WordPress http://ift.tt/1fMelEh



Forex, cny, forex, forex news round up

Putin Warns Against Counterproductive Sanctions

via MarketPulse:

Stock markets extended gains on Tuesday afternoon, continuing to bounce back from a heavy bout of selling, as Russian President Vladimir Putin quelled fears of immediate conflict in Ukraine.

Putin, speaking at a press conference in Moscow on Tuesday, said there was “no need yet” for Russia to exercise its authority, adding that he was not considering the annexation of Crimea and any force used would be a last resort. He also directly addressed Monday’s heavy selling in stock markets saying that the move would only be “temporary.”

Russia’s MICEX Index pushed higher on Tuesday, surging over 5 percent, having lost nearly $60 billion in market capitalization on Monday, ending the session down 11 percent – its worst fall in five years.

via CNBC

The post Putin Warns Against Counterproductive Sanctions appeared first on MarketPulse.

For more info: Putin Warns Against Counterproductive Sanctions

MarketPulse

Putin Warns Against Counterproductive Sanctions

The post Putin Warns Against Counterproductive Sanctions appeared first on FX FOREX.

via WordPress http://ift.tt/1kUUS9F



Forex, eur, forex, forex news round up, usd