Barack Obama speech september 8 2011 : U.S. President Barack Obama goes to Capitol Hill later Thursday to outline his plans for creating jobs, after recent figures showed job creation at a standstill, threatening a possible second recession. The president will deliver his nationally televised address to a joint session of Congress.
The White House has released very few details about Mr. Obama's plan. The proposal, reported to amount to about $300 billion, could include incentives for small businesses to hire, an extension of insurance benefits for the unemployed, and a renewal of payroll tax cuts that have allowed U.S. workers to keep more of their earnings.
he president is also expected to call for spending to fix the country's aging and crumbling roads, bridges and schools — projects that could also create jobs.
The Democratic president's plan is likely to meet with considerable opposition from Republican lawmakers who are opposed to increased spending by the debt-ridden government.
In advance of the speech, some Republicans say the proposals represent a reprise of the president's failed economic policies.
While the president's Democratic party dominates the Senate, his Republican opponents have the majority in the larger, more volatile House of Representatives.
A survey of 1,000 people, released Wednesday by the Pew Research Center, shows that 43 percent of those responding consider the job situation to be the nation's top economic concern — far more than issues such as the budget deficit and financial markets.
The country's economy has virtually stalled, and federal figures show that no new jobs were created in August. About 14 million workers are unemployed and millions more are working part-time or in jobs they consider below their skill level. source blogs.voanews.com...
Barack Obama press confrence sept 8 2011, Barack Obama released, U.S. President Barack Obama speech september 8 2011.
Showing posts with label economic. Show all posts
Showing posts with label economic. Show all posts
Thursday, September 8, 2011
Tuesday, September 6, 2011
U.S. economy prediction will likely limp along with slow growth
U.S. economy prediction will likely limp along with slow growth : World Bank President Robert Zoellick says the U.S. economy will likely limp along with slow growth and high unemployment but avoid a recession.
Zoellick told reporters Tuesday in Singapore that Europe's debt crisis threatens to undermine the confidence of consumers and investors.
Zoellick said the challenges facing Europe are more "imminent" than those in the U.S.
He said European countries may need to deepen fiscal integration - implying governments should sacrifice some control over their budgets so spending policies can be coordinated among countries using the euro.
Singapore Finance Minister Tharman Shanmugaratnam told reporters that weak economic growth in the U.S. and Europe was making them "extremely vulnerable to each new shock."source www.kansascity.com
Zoellick told reporters Tuesday in Singapore that Europe's debt crisis threatens to undermine the confidence of consumers and investors.
Zoellick said the challenges facing Europe are more "imminent" than those in the U.S.
He said European countries may need to deepen fiscal integration - implying governments should sacrifice some control over their budgets so spending policies can be coordinated among countries using the euro.
Singapore Finance Minister Tharman Shanmugaratnam told reporters that weak economic growth in the U.S. and Europe was making them "extremely vulnerable to each new shock."source www.kansascity.com
Sunday, August 28, 2011
global Impact Hurricane Irene 2011
global Impact Hurricane Irene 2011 ; Hurricane Irene is heading right for New York City. It remains unclear when and where the storm will break. According to New York City's Office of Emergency Management, the last hurricane to directly hit New York City was in 1821. The storm enabled tides to rise 13 feet in one hour and flooded the area from lower Manhattan to Canal St.
If Irene's sustained winds reach 100 miles per hour, an economic worst-case scenario, the United States will face at least $100 billion in insured losses, the Wall Street Journal reported. Loss of productivity and loss of life were not included in this figure.
hurricane irene affect on insurance stocks
how will hurricane irene affect on insurance stocks ; As Hurricane Irene barrels toward the East Coast, there is a lot of discussion about what the impact will be on insurance stocks. There are some names that will be in the eye of the storm and have potentially the greatest exposure.Read More...
Economic Impact of Irene
Revised estimates of the direct damage caused by Hurricane Irene are in the range of $20 billion. Add to those the loss of about two days economic activity, spread over a week, across 25% of the economy, and an estimated of the losses imposed by Irene is about $40 to 45 billion. Read More...
effect Hurricane Irene on Stocks market
Stocks are setting up for another turbulent week that will begin with a focus, oddly enough, on the weather. Traders juggling European debt worries and soft economic data are now staring at satellite images, tracking the path of Hurricane Irene, expected to hit New York over the weekend. Read More...
How will FEMA pay for Hurricane Irene
With less than $1 billion currently available for federal disaster assistance, the Federal Emergency Management Agency is temporarily suspending payments to rebuild roads, schools and other structures destroyed during spring tornadoes in Joplin, Mo. and southern states in order to pay for damage caused by Hurricane Irene.Read More...
trade stock hurricane 2011, effects of hurricane katrina, tropical storm irene, hurricane effect on stock market, cnn hurricane irene, hurricane irene tracker, hurricane irene status, hurricane irene location, hurricane names. Irene downgraded from hurricane to tropical storm.
If Irene's sustained winds reach 100 miles per hour, an economic worst-case scenario, the United States will face at least $100 billion in insured losses, the Wall Street Journal reported. Loss of productivity and loss of life were not included in this figure.
hurricane irene affect on insurance stocks
how will hurricane irene affect on insurance stocks ; As Hurricane Irene barrels toward the East Coast, there is a lot of discussion about what the impact will be on insurance stocks. There are some names that will be in the eye of the storm and have potentially the greatest exposure.Read More...
Economic Impact of Irene
Revised estimates of the direct damage caused by Hurricane Irene are in the range of $20 billion. Add to those the loss of about two days economic activity, spread over a week, across 25% of the economy, and an estimated of the losses imposed by Irene is about $40 to 45 billion. Read More...
effect Hurricane Irene on Stocks market
Stocks are setting up for another turbulent week that will begin with a focus, oddly enough, on the weather. Traders juggling European debt worries and soft economic data are now staring at satellite images, tracking the path of Hurricane Irene, expected to hit New York over the weekend. Read More...
How will FEMA pay for Hurricane Irene
With less than $1 billion currently available for federal disaster assistance, the Federal Emergency Management Agency is temporarily suspending payments to rebuild roads, schools and other structures destroyed during spring tornadoes in Joplin, Mo. and southern states in order to pay for damage caused by Hurricane Irene.Read More...
trade stock hurricane 2011, effects of hurricane katrina, tropical storm irene, hurricane effect on stock market, cnn hurricane irene, hurricane irene tracker, hurricane irene status, hurricane irene location, hurricane names. Irene downgraded from hurricane to tropical storm.
Saturday, August 27, 2011
US economic growth predictions for April -July 2011
US economic growth predictions for April -July 2011 : The second estimate of second-quarter 2011 GDP growth was revised down to an annualized 1.0% from an initially estimated 1.3%. Earlier released data suggested a likely downward revision although to a slightly higher 1.1%. The increase follows a negligible 0.4% gain in the first quarter and a 2.3% gain in the fourth quarter of last year.
The second-quarter GDP report is indicative of very modest growth in the quarter with the downward revision slightly greater than expected. Most of the downward surprise, however, was from a lower level of inventories with growth in a number of key expenditure areas being revised upward.
Inventories had previously been estimated as contributing 0.2 percentage points (pp) to overall GDP growth, but it is now estimated as subtracting 0.2pp. Our expectation is that inventories would be lowered but only to the point of providing no contribution to growth. The other source of downward surprise was net exports, which are now only adding 0.1pp to growth rather than the 0.6pp previously estimated. Our expectation had been for the contribution to be lowered to only 0.2pp. This revision mainly reflected growth in exports being cut to 3.1% from the previously estimated 6.0%.
The main offsets to these downward surprises were greater strength in consumer spending and business investment. Growth in the former was raised to a still anemic 0.4%, yet this is up from the previously estimated 0.1%. Growth in business investment has been bumped up to 9.9% from the earlier estimate of 6.3%. These upward revisions contributed to growth in final sales to domestic buyers being raised to 1.1% from 0.5%.
The strength in business investment was helped by indications that corporate after-tax profits rose a solid 4.1% in the second quarter of the year, which is up from the negligible 0.1% gain recorded in the first quarter.
Annualized quarterly growth in the core PCE deflator, the key inflation measure in the GDP report, was revised up slightly to 2.2% from 2.1%.
Today's GDP report confirms that in the first half of this year, the economy experienced very slow growth averaging less than 1%. This weakness in part reflects the effect of temporary factors such as supply-chain problems in the auto sector, which originated with the natural disasters in Japan in March. As well, the earlier spike in gasoline prices took a bite out of disposable income and cut into spending outside of energy purchases; however, these restraints are starting to ease. The recent industrial production numbers for July suggest that the auto sector is starting to recover with the motor vehicle component rising a robust 5.2% following declines of 6.6%, 0.4%, and 0.9% for April to June, respectively.
In terms of gasoline prices, they have come down from April's recent peak, and this is expected to provide a boost to consumer spending during the second half of 2011. To provide additional support to a bounce back in activity, policy has been, and will continue to be, highly accommodative. The statement issued following the August 9 FOMC meeting indicated that exceptionally low level of fed funds would be maintained “at least through mid-2013.” Fed Chairman Bernanke's speech later this morning will be watched very closely with financial markets pressing for some indication of additional near-term stimulus in the offing. source www.actionforex.com
The second-quarter GDP report is indicative of very modest growth in the quarter with the downward revision slightly greater than expected. Most of the downward surprise, however, was from a lower level of inventories with growth in a number of key expenditure areas being revised upward.
Inventories had previously been estimated as contributing 0.2 percentage points (pp) to overall GDP growth, but it is now estimated as subtracting 0.2pp. Our expectation is that inventories would be lowered but only to the point of providing no contribution to growth. The other source of downward surprise was net exports, which are now only adding 0.1pp to growth rather than the 0.6pp previously estimated. Our expectation had been for the contribution to be lowered to only 0.2pp. This revision mainly reflected growth in exports being cut to 3.1% from the previously estimated 6.0%.
The main offsets to these downward surprises were greater strength in consumer spending and business investment. Growth in the former was raised to a still anemic 0.4%, yet this is up from the previously estimated 0.1%. Growth in business investment has been bumped up to 9.9% from the earlier estimate of 6.3%. These upward revisions contributed to growth in final sales to domestic buyers being raised to 1.1% from 0.5%.
The strength in business investment was helped by indications that corporate after-tax profits rose a solid 4.1% in the second quarter of the year, which is up from the negligible 0.1% gain recorded in the first quarter.
Annualized quarterly growth in the core PCE deflator, the key inflation measure in the GDP report, was revised up slightly to 2.2% from 2.1%.
Today's GDP report confirms that in the first half of this year, the economy experienced very slow growth averaging less than 1%. This weakness in part reflects the effect of temporary factors such as supply-chain problems in the auto sector, which originated with the natural disasters in Japan in March. As well, the earlier spike in gasoline prices took a bite out of disposable income and cut into spending outside of energy purchases; however, these restraints are starting to ease. The recent industrial production numbers for July suggest that the auto sector is starting to recover with the motor vehicle component rising a robust 5.2% following declines of 6.6%, 0.4%, and 0.9% for April to June, respectively.
In terms of gasoline prices, they have come down from April's recent peak, and this is expected to provide a boost to consumer spending during the second half of 2011. To provide additional support to a bounce back in activity, policy has been, and will continue to be, highly accommodative. The statement issued following the August 9 FOMC meeting indicated that exceptionally low level of fed funds would be maintained “at least through mid-2013.” Fed Chairman Bernanke's speech later this morning will be watched very closely with financial markets pressing for some indication of additional near-term stimulus in the offing. source www.actionforex.com
Sunday, August 14, 2011
Hot news that could affect the financial markets for week august 15 -19th 2011
Hot news that could affect the financial markets for week august 15 -19th 2011 : The high volatility in the financial markets during last week subsided by the end of the week; this volatility was stem by the news of Standard & Poor’s downgrading the US credit rating from AAA to +AA for the first time in US history. ECB’s intervention in the debit crisis in Europe also helped to stabilize the market.
This week there are many news items that could affect the financial markets including, among others, the US TIC long term purchases, preliminary second quarter GDP growth rate in Europe and Japan, Euro Area and US inflation rate, and Japan’s trade balance. Here is an economic news calendar for the week of August 15th to August 19th that highlights the main news items and reports related to U.S, Europe, Australia, Japan and Canada.
Sunday 14th of August 2011 00:50– Japan’s preliminary GDP 2Q2011:
Japan’s economy continues to demonstrate contractions as its gross domestic product fell by 0.9% during the first quarter of 2011, and 0.8% during the fourth quarter of 2010. The Tsunami that hit Japan back in March will likely to affect its economic slowdown in second quarter 2011. This news could affect the strength of the Japanese Yen;
Monday 15th of August 2011 14:00 – US TIC long term purchases:
The Treasury International Capital report will present the main changes in the purchases and sales of US long term treasuries during June 2011. In the previous report regarding May 2011, the net foreign purchases reached $23.6 billion; the increase in purchases was mainly driven by China. In the upcoming report there might continue to be a rise in purchases. Due to the recent news of the US credit rating downgrade, its likely to have also affected traders to further purchase Treasury bills
Monday 15th of August 2011 2.30 Monetary Policy meeting Australia’s Bank :
The minutes of the monetary policy meeting of the reserve bank of Australia will be published; it shows the main domestic and international factors that affected the board’s decisions on the Bank’s basic interest rate which is at 4.75%; this decision might also affect the AUD/USD and consequently the pricing of major commodities including crude oil
Tuesday 15th of August 2011 10:00– Main Europe’s economy’s GDP 2Q2011 report:
Germany will publish this week its preliminary second quarter GDP report. This report will show the changes in the economic growth in Euro Area. According to the recent report in the first quarter of 2011, the Euro Area GDP grew by 0.8% compared with the previous quarter. This news might affect the Euro; there are early expectations of a lower growth rate in the second quarter
Tuesday 15th of August 2011 13.30 – U.S. Building Permits:
The recent report showed an improvement as the adjusted annual rate reached 624,000 building permits in June 2011, which is 2.5% above May’s rate. If this report will continue to show a rise in the building permits rate, it will indicate that the housing market in the US is pulling out of its recession
Tuesday 15th of August 2011 13.30 – U.S. Housing Starts:
The additional figure to be published by the US Census Bureau involves the US housing starts; this figure was historically correlated with gold price – as housing starts rise gold price usually declined the following day (even when controlling to the US dollar effect); in the last report the adjusted annual rate reached 629,000 in June 2011, which is 14.6% above the May rate of 549,000
Wednesday 17th of August 2011 10:00 – Euro Area CPI and core monthly inflation (June):
In the last report regarding June 2011, the annual inflation rate was 2.7%, unchanged compared with May’s for Euro Area; this inflation rate is still above the target inflation of ECB. The expectations in the upcoming CPI report for July 2011 are a slight decline. This news might affect the Euro currency, ECB’s rate decision and consequentially major commodities prices including crude oil and gold
Wednesday 17th of August 2011 13.30 – U.S. producer price index news:
This monthly report will show the progress in the PPI during July, i.e. the inflation rate from producers stand point. In the previous report regarding June, this index for finished goods declined by 0.4%, after a rise of 0.2% in May; this index declined mainly due to the drop in energy prices by 2.8% during June;
Wednesday 17th of August 15:30 – EIA report about Crude oil inventories:
The EIA (Energy Information Administration) will publish its weekly report on the U.S Petroleum market for the week ending on August 12th; last week the US oil stockpiles sharply declined by 10.73 million barrel – the sharpest fall since February 18th, 2011. For the week ending on August 5th crude oil stocks reached 1,796 million barrels
Wednesday 17th of August 2011 00.50 – Report of Japanese Trade balance (for April):
The Japanese trade balance deficit for June 2011 sharply decreased by 57.5% compared with May 2011, to reach 191.152 billion YEN (roughly $2.45 billion) deficit (seasonally adjusted figures). This sharp decrease is mainly due to the sharp increase in exports by 5.4%, while the imports only grew by 0.5% during June. Japan is among the leading importing countries of commodities, such as crude oil and gold; its trade balance could provide insight into Japan’s changes in demand goods and services;
Thursday 18th of August 2011 13:30 – Report on US CPI:
This monthly report will show the main changes in the core consumer price index during July. According to the US Bureau of Labor statistics for June 2011, the CPI fell by 0.2% and over the last 12 months by 3.6%. The main reasons for the fall are related to the sharp drop in the energy prices that curbed the inflation pressures;
Thursday 18th of August 2011 13:30 – Department of Labor report – U.S. unemployment claims :
For the week ending on August 6th, initial claims decreased by 7,000, as it reached 395,000 claims; the insured unemployment rate fell by 0.1 percent points to 2.9% for the week ending on July 30th; and the number of insured unemployment was 3.688 million, a decrease of 60,000 compared with the previous week’s.
Thursday 18th of August 2011 15:00 – U.S. existing home sales :
This report will show the major changes in U.S. existing home sales during July 2011; in the recent report related to June there was a drop in number of homes sold: the seasonally adjusted annual rate reached in June to 4.77 million home sales compared with an annual rate of 4.81 million home sales in May 2011, a 0.8% drop, and an 8.8% decline from the 5.23 million home sales (annual rate) in June 2010
Thursday 18th of August 2011 15:30 – EIA report about Natural gas storage:
the natural gas market in the US bounced back last week due to increase in electric sector; the EIA will publish its U.S. natural gas stocks, production and consumption report for the week ending on August 12th. In the recent report, natural gas storage inclined by 0.9% or by 25 Bcf; the natural gas storage inclined to 2,783 billion cubic feet for all lower 48 states – the highest stock level since January 7th, 2011
Friday 19th of August 2011 13.00 – Canadian Core CPI:
This report will pertain July 2011 and show the main changes in the core consumer price index, which excludes the most volatile components such as energy, fruit and vegetables. According to the recent Canadian statistics report for June 2011, the CPI rose by 3.1% in 12 month up to June; this is a lower rate than May that recorded a 3.7% growth rate in 12 months. The main reason for this growth is the energy prices that increased by 15.7% during the 12 months up to June 2011.
financial markets prediction week august 15 2011, stock market forecast 15 august 2011, financial markets forecasr august 2011, economic news for week 15 august 2011, US dollar effect, apanese Yen predictions august 15 2011, here will be gold price on MOnday August 15 2011, predictions stock market august 15 2011, predictions on stocks 8/15/11, market predictions for next week august 15 2011, gold week of the august15,gold prices for august 15 2011.
This week there are many news items that could affect the financial markets including, among others, the US TIC long term purchases, preliminary second quarter GDP growth rate in Europe and Japan, Euro Area and US inflation rate, and Japan’s trade balance. Here is an economic news calendar for the week of August 15th to August 19th that highlights the main news items and reports related to U.S, Europe, Australia, Japan and Canada.
Sunday 14th of August 2011 00:50– Japan’s preliminary GDP 2Q2011:
Japan’s economy continues to demonstrate contractions as its gross domestic product fell by 0.9% during the first quarter of 2011, and 0.8% during the fourth quarter of 2010. The Tsunami that hit Japan back in March will likely to affect its economic slowdown in second quarter 2011. This news could affect the strength of the Japanese Yen;
Monday 15th of August 2011 14:00 – US TIC long term purchases:
The Treasury International Capital report will present the main changes in the purchases and sales of US long term treasuries during June 2011. In the previous report regarding May 2011, the net foreign purchases reached $23.6 billion; the increase in purchases was mainly driven by China. In the upcoming report there might continue to be a rise in purchases. Due to the recent news of the US credit rating downgrade, its likely to have also affected traders to further purchase Treasury bills
Monday 15th of August 2011 2.30 Monetary Policy meeting Australia’s Bank :
The minutes of the monetary policy meeting of the reserve bank of Australia will be published; it shows the main domestic and international factors that affected the board’s decisions on the Bank’s basic interest rate which is at 4.75%; this decision might also affect the AUD/USD and consequently the pricing of major commodities including crude oil
Tuesday 15th of August 2011 10:00– Main Europe’s economy’s GDP 2Q2011 report:
Germany will publish this week its preliminary second quarter GDP report. This report will show the changes in the economic growth in Euro Area. According to the recent report in the first quarter of 2011, the Euro Area GDP grew by 0.8% compared with the previous quarter. This news might affect the Euro; there are early expectations of a lower growth rate in the second quarter
Tuesday 15th of August 2011 13.30 – U.S. Building Permits:
The recent report showed an improvement as the adjusted annual rate reached 624,000 building permits in June 2011, which is 2.5% above May’s rate. If this report will continue to show a rise in the building permits rate, it will indicate that the housing market in the US is pulling out of its recession
Tuesday 15th of August 2011 13.30 – U.S. Housing Starts:
The additional figure to be published by the US Census Bureau involves the US housing starts; this figure was historically correlated with gold price – as housing starts rise gold price usually declined the following day (even when controlling to the US dollar effect); in the last report the adjusted annual rate reached 629,000 in June 2011, which is 14.6% above the May rate of 549,000
Wednesday 17th of August 2011 10:00 – Euro Area CPI and core monthly inflation (June):
In the last report regarding June 2011, the annual inflation rate was 2.7%, unchanged compared with May’s for Euro Area; this inflation rate is still above the target inflation of ECB. The expectations in the upcoming CPI report for July 2011 are a slight decline. This news might affect the Euro currency, ECB’s rate decision and consequentially major commodities prices including crude oil and gold
Wednesday 17th of August 2011 13.30 – U.S. producer price index news:
This monthly report will show the progress in the PPI during July, i.e. the inflation rate from producers stand point. In the previous report regarding June, this index for finished goods declined by 0.4%, after a rise of 0.2% in May; this index declined mainly due to the drop in energy prices by 2.8% during June;
Wednesday 17th of August 15:30 – EIA report about Crude oil inventories:
The EIA (Energy Information Administration) will publish its weekly report on the U.S Petroleum market for the week ending on August 12th; last week the US oil stockpiles sharply declined by 10.73 million barrel – the sharpest fall since February 18th, 2011. For the week ending on August 5th crude oil stocks reached 1,796 million barrels
Wednesday 17th of August 2011 00.50 – Report of Japanese Trade balance (for April):
The Japanese trade balance deficit for June 2011 sharply decreased by 57.5% compared with May 2011, to reach 191.152 billion YEN (roughly $2.45 billion) deficit (seasonally adjusted figures). This sharp decrease is mainly due to the sharp increase in exports by 5.4%, while the imports only grew by 0.5% during June. Japan is among the leading importing countries of commodities, such as crude oil and gold; its trade balance could provide insight into Japan’s changes in demand goods and services;
Thursday 18th of August 2011 13:30 – Report on US CPI:
This monthly report will show the main changes in the core consumer price index during July. According to the US Bureau of Labor statistics for June 2011, the CPI fell by 0.2% and over the last 12 months by 3.6%. The main reasons for the fall are related to the sharp drop in the energy prices that curbed the inflation pressures;
Thursday 18th of August 2011 13:30 – Department of Labor report – U.S. unemployment claims :
For the week ending on August 6th, initial claims decreased by 7,000, as it reached 395,000 claims; the insured unemployment rate fell by 0.1 percent points to 2.9% for the week ending on July 30th; and the number of insured unemployment was 3.688 million, a decrease of 60,000 compared with the previous week’s.
Thursday 18th of August 2011 15:00 – U.S. existing home sales :
This report will show the major changes in U.S. existing home sales during July 2011; in the recent report related to June there was a drop in number of homes sold: the seasonally adjusted annual rate reached in June to 4.77 million home sales compared with an annual rate of 4.81 million home sales in May 2011, a 0.8% drop, and an 8.8% decline from the 5.23 million home sales (annual rate) in June 2010
Thursday 18th of August 2011 15:30 – EIA report about Natural gas storage:
the natural gas market in the US bounced back last week due to increase in electric sector; the EIA will publish its U.S. natural gas stocks, production and consumption report for the week ending on August 12th. In the recent report, natural gas storage inclined by 0.9% or by 25 Bcf; the natural gas storage inclined to 2,783 billion cubic feet for all lower 48 states – the highest stock level since January 7th, 2011
Friday 19th of August 2011 13.00 – Canadian Core CPI:
This report will pertain July 2011 and show the main changes in the core consumer price index, which excludes the most volatile components such as energy, fruit and vegetables. According to the recent Canadian statistics report for June 2011, the CPI rose by 3.1% in 12 month up to June; this is a lower rate than May that recorded a 3.7% growth rate in 12 months. The main reason for this growth is the energy prices that increased by 15.7% during the 12 months up to June 2011.
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Wednesday, August 3, 2011
Italian government bond yield chart 10 Year 2000 - 2011
Italian government bond yield chart 10 Year 2000 - 2011 : The Italian Prime Minister Silvio Berlusconi has sought to restore calm, as yields on Italian government bonds shot to record highs, prompting renewed concern that the country may need aid from the eurozone.
Italy's Government Bond Yield for 10 Year Notes rallied 138 basis points during the last 12 months. From 2000 until 2011 Italy's Government Bond Yield for 10 Year Notes averaged 5.94 percent reaching an historical high of 13.75 percent in March of 1995 and a record low of 3.22 percent in September of 2005.
Generally, a government bond is issued by a national government and is denominated in the country`s own currency. Bonds issued by national governments in foreign currencies are normally referred to as sovereign bonds. The yield required by investors to loan funds to governments reflects inflation expectations and the likelihood that the debt will be repaid. This page includes: Italy Government Bond 10 Year Yield chart, historical data and news.
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Italy's Government Bond Yield for 10 Year Notes rallied 138 basis points during the last 12 months. From 2000 until 2011 Italy's Government Bond Yield for 10 Year Notes averaged 5.94 percent reaching an historical high of 13.75 percent in March of 1995 and a record low of 3.22 percent in September of 2005.
Generally, a government bond is issued by a national government and is denominated in the country`s own currency. Bonds issued by national governments in foreign currencies are normally referred to as sovereign bonds. The yield required by investors to loan funds to governments reflects inflation expectations and the likelihood that the debt will be repaid. This page includes: Italy Government Bond 10 Year Yield chart, historical data and news.
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Monday, August 1, 2011
US GDP second quarter of 2011
US GDP second quarter of 2011 : Bureau of Economic Analysis today reported that real gross domestic product in the US increased at an annual rate of 1.3% in the second quarter of 2011. acceleration in real GDP was driven primarily by a slowdown in import demand, stronger federal spending, and a pickup in non-residential fixed investment. Real gross domestic purchases - GDP minus net exports - was weaker than the headline, increasing 0.7% on the quarter, reflecting the positive contribution from external demand. Domestic demand is barely growing - remember these are annualized rates, not q.q rates
The BEA also released the 2011 annual revision of the national economic accounts. The general economic picture from 2007 to 2010 was not significantly changed. However, the revised estimates show a sharper cyclical contraction in GDP during 2008 and the first half of 2009. Over the six quarters of the contraction, the cumulative decrease in GDP was 5.1%, compared with 4.1% in the previous estimates.
Second-quarter GDP highlights:
The following contributed to the pickup in real GDP growth:
*Imports slowed, reflecting mainly downturns in “petroleum and products” and in “autos, engines, and parts”;
*Federal government spending turned up, reflecting an upturn in national defense spending;
*Business investment picked up, reflecting an upturn in structures investment.
Offsetting these contributions to the pickup in GDP growth was a sharp slowdown in consumer spending, led by a downturn in motor vehicles and parts.
Gross domestic purchases prices:
Prices of goods and services purchased by US residents slowed in the second quarter, increasing 3.2% after increasing 4.0% in the first quarter. Energy prices slowed, while food prices grew at about the same rate.
Excluding food and energy, prices rose 2.6% in the second quarter after rising 2.4% in the first quarter.
On the revisions
The drop in Q1 2011 growth to 0.4% was certainly not expected. Much of it was due to a reclassification of domestic inventory build (adds to GDP) to imports (subtracts from GDP). But there's a lot more.
Today's estimates reflect the annual revisions of the US national accounts. The revisions date back to 2003, which show a deeper recession and a quicker rebound. We now know that GDP bottomed in the second quarter of 2009, after having fallen 5.1% since the fourth quarter of 2007. Previously, the cumulative drop in GDP was 4.0%. The recovery through Q1 2011 was slightly faster, 4.9% in the pre-revised data compared to 4.64% in the revised series. (Rdan....4.9% is correct figure)
Broadly speaking, though, the revisions show that economic momentum is petering out on a 6-month/6-month annualized basis. In sum, nominal spending on consumption goods and services was revised downward by 307.8 billion dollars spanning the years 2008-2010, and nominal fixed investment spending dropped by 83.9 billion dollars compared to previous estimates. Government spending is proving to be less of a drag than previously thought (in nominal terms), having been revised 5 billion dollars higher compared to previous estimates over the same period.
On balance, the expected 2011 growth trajectory will struggle to top 2%, as a rather positive 2H 2011 of 3.0% and 3.5% in Q3 and Q4, respectively, would imply a 1.9% Y/Y pace for 2011 as a while. I seriously doubt we'll get that trajectory in H2 2011 - we'll have to see what economists now forecast - but the downside risk to the economy is pervasive. It's not just Japan.
The BEA also released the 2011 annual revision of the national economic accounts. The general economic picture from 2007 to 2010 was not significantly changed. However, the revised estimates show a sharper cyclical contraction in GDP during 2008 and the first half of 2009. Over the six quarters of the contraction, the cumulative decrease in GDP was 5.1%, compared with 4.1% in the previous estimates.
Second-quarter GDP highlights:
The following contributed to the pickup in real GDP growth:
*Imports slowed, reflecting mainly downturns in “petroleum and products” and in “autos, engines, and parts”;
*Federal government spending turned up, reflecting an upturn in national defense spending;
*Business investment picked up, reflecting an upturn in structures investment.
Offsetting these contributions to the pickup in GDP growth was a sharp slowdown in consumer spending, led by a downturn in motor vehicles and parts.
Gross domestic purchases prices:
Prices of goods and services purchased by US residents slowed in the second quarter, increasing 3.2% after increasing 4.0% in the first quarter. Energy prices slowed, while food prices grew at about the same rate.
Excluding food and energy, prices rose 2.6% in the second quarter after rising 2.4% in the first quarter.
On the revisions
The drop in Q1 2011 growth to 0.4% was certainly not expected. Much of it was due to a reclassification of domestic inventory build (adds to GDP) to imports (subtracts from GDP). But there's a lot more.
Today's estimates reflect the annual revisions of the US national accounts. The revisions date back to 2003, which show a deeper recession and a quicker rebound. We now know that GDP bottomed in the second quarter of 2009, after having fallen 5.1% since the fourth quarter of 2007. Previously, the cumulative drop in GDP was 4.0%. The recovery through Q1 2011 was slightly faster, 4.9% in the pre-revised data compared to 4.64% in the revised series. (Rdan....4.9% is correct figure)
Broadly speaking, though, the revisions show that economic momentum is petering out on a 6-month/6-month annualized basis. In sum, nominal spending on consumption goods and services was revised downward by 307.8 billion dollars spanning the years 2008-2010, and nominal fixed investment spending dropped by 83.9 billion dollars compared to previous estimates. Government spending is proving to be less of a drag than previously thought (in nominal terms), having been revised 5 billion dollars higher compared to previous estimates over the same period.
On balance, the expected 2011 growth trajectory will struggle to top 2%, as a rather positive 2H 2011 of 3.0% and 3.5% in Q3 and Q4, respectively, would imply a 1.9% Y/Y pace for 2011 as a while. I seriously doubt we'll get that trajectory in H2 2011 - we'll have to see what economists now forecast - but the downside risk to the economy is pervasive. It's not just Japan.
Saturday, July 30, 2011
Best stock to picks Reliable Blue Chips for the Debt Crisis
Best stock to picks Reliable Blue Chips for the Debt Crisis : The Treasury has warned of an Aug. 2 deadline to raise the debt ceiling. Democrats refuse to consider any debt-cutting proposal that does not include revenue increases, and Republicans refuse to consider any bill that does include them.
how can investors protect themselves amid this mayhem? After all, the “safe haven” of U.S. Treasuries won’t be considered very safe if Uncle Sam winds up defaulting on his debts. And you can bet if things go south in Washington, they’ll go south on Wall Street, too
Going to cash until things blow over is an option, but not always the best one for many investors. If you have an IRA, you likely will pay a hefty penalty to bail out now. Besides, market timing always is a tricky business — those folks who bailed out in early 2009 to “protect” their finances missed out on a screaming bear market where the stock market soared 60% in the subsequent 12 months. Even if you know when to get out, it’s hard to know when to get back in.
So, where can you turn right now? Low-risk, high-yield dividend stocks are as good a place as any. Blue chips with reliable revenue streams that throw off big quarterly payouts might not be bulletproof, but they could be some of your best shots at stability in this crazy market.
Here are five picks to consider: Verizon (NYSE:VZ), McDonald’s (NYSE:MCD), PepsiCo (NYSE:PEP), Colgate-Palmolive (NYSE:CL) and Lorillard (NYSE:LO).
Verizon (NYSE:VZ)
This telecom giant is about 7% shy of a new 52-week high but still delivering an impressive 5.4% yield at these valuations. And contrary to AT&T (NYSE:T), which has seen revenue mostly flat since 2008, Verizon has grown its revenue by almost 10% in the same period. And while Verizon got the iPhone this spring, many experts believe a large number of subscribers still are waiting for the release of the iPhone 5 from Apple (NASDAQ:AAPL) this fall on Verizon’s network.
Also, while rival AT&T saw a decent pop after its March offer to buy out T-Mobile, resistance to the proposed merger is growing. There is no reason to expect Verizon to be marginalized if things go through, and increasing opposition to the deal could squash AT&T’s move to leapfrog Verizon to become the top wireless carrier in the U.S.
McDonald’s (NYSE:MCD)
Despite its massive size, McDonald’s continues to cook up great results for shareholders — most recently, in quarterly results that show a 16% revenue increase. The stock has outperformed the market nicely, adding 24% in the last year and more than 13% year-to-date. That’s in part because more than half of McDonald’s revenue comes from outside the U.S., where the company still can see big growth.
That international exposure also is good news if default comes to roost. With its large cash flows, the company will have the resources to continue to innovate and experiment with new products like its recent frozen lemonade concoction that has helped juice summer sales. That reliable revenue stream also throws off a plump dividend of 2.8%.
PepsiCo (NYSE:PEP)
If you’re looking for another domestic consumer powerhouse with an emerging market footprint, PepsiCo is a good choice. In the latest quarter, beverage volume growth increased 13% in China, 17% in India and 15% in Turkey. And beyond these brisk drink sales abroad, there are plenty of foodstuffs that will keep revenues booming at home, even in tough times — including products like Quaker Oats and Lays potato chips.
Pepsi just took a tumble after its recent earnings report and disappointing outlook, but this sell-off might be a buying opportunity. PepsiCo raised its dividend for its 39th consecutive year in May, proving the bulletproof distributions from PEP stock. The company now yields 3.1% and has seen an annual growth rate of 12.6% in its dividend during the past five years — a sign of stable income if ever there was one.
Colgate-Palmolive (NYSE:CL)
Consumer products giant Colgate-Palmolive made waves this year with its purchase of the Sanex personal care brand in Europe from Unilever PLC (NYSE:UL) for about $950 million. That will give the already dominant company an opportunity to expand its footprint even more overseas. Colgate already has seen a 10% increase in revenue for its full fiscal year of 2010 compared with 2008 numbers, and the Sanex buyout will mean continued growth.
And you can’t get much more stable than a company selling soap and toothpaste — consumer products like that will sell no matter what mayhem tomorrow brings. On the dividend side, the 2.7% yield isn’t overly impressive but is rock solid. Colgate has paid dividends since 1985 and has seen 48 consecutive annual increases in its distributions.
Lorillard (NYSE:LO)
One of America’s smaller tobacco companies, the most successful Lorillard product is menthol cigarettes under the Newport brand. But while LO might not be on top of the heap in the tobacco market, its numbers are more impressive than some bigger rivals. Lorillard has seen revenue increase for each of the past four fiscal years, and its stock value has jumped almost 40% in the past 12 months to double the broader market’s returns.
While cigarette sales overall have been in a slow decline recently because of excise tax increases – not to mention the obvious health risks of smoking – Lorillard has managed to actually grow sales in its top Newport and Maverick brands. Revenue and earnings both rose about 11% in its most recent quarterly report. LO currently yields 4.8% but has seen two dividend increases since early 2010. (source www.investorplace.com )
how can investors protect themselves amid this mayhem? After all, the “safe haven” of U.S. Treasuries won’t be considered very safe if Uncle Sam winds up defaulting on his debts. And you can bet if things go south in Washington, they’ll go south on Wall Street, too
Going to cash until things blow over is an option, but not always the best one for many investors. If you have an IRA, you likely will pay a hefty penalty to bail out now. Besides, market timing always is a tricky business — those folks who bailed out in early 2009 to “protect” their finances missed out on a screaming bear market where the stock market soared 60% in the subsequent 12 months. Even if you know when to get out, it’s hard to know when to get back in.
So, where can you turn right now? Low-risk, high-yield dividend stocks are as good a place as any. Blue chips with reliable revenue streams that throw off big quarterly payouts might not be bulletproof, but they could be some of your best shots at stability in this crazy market.
Here are five picks to consider: Verizon (NYSE:VZ), McDonald’s (NYSE:MCD), PepsiCo (NYSE:PEP), Colgate-Palmolive (NYSE:CL) and Lorillard (NYSE:LO).
Verizon (NYSE:VZ)
This telecom giant is about 7% shy of a new 52-week high but still delivering an impressive 5.4% yield at these valuations. And contrary to AT&T (NYSE:T), which has seen revenue mostly flat since 2008, Verizon has grown its revenue by almost 10% in the same period. And while Verizon got the iPhone this spring, many experts believe a large number of subscribers still are waiting for the release of the iPhone 5 from Apple (NASDAQ:AAPL) this fall on Verizon’s network.
Also, while rival AT&T saw a decent pop after its March offer to buy out T-Mobile, resistance to the proposed merger is growing. There is no reason to expect Verizon to be marginalized if things go through, and increasing opposition to the deal could squash AT&T’s move to leapfrog Verizon to become the top wireless carrier in the U.S.
McDonald’s (NYSE:MCD)
Despite its massive size, McDonald’s continues to cook up great results for shareholders — most recently, in quarterly results that show a 16% revenue increase. The stock has outperformed the market nicely, adding 24% in the last year and more than 13% year-to-date. That’s in part because more than half of McDonald’s revenue comes from outside the U.S., where the company still can see big growth.
That international exposure also is good news if default comes to roost. With its large cash flows, the company will have the resources to continue to innovate and experiment with new products like its recent frozen lemonade concoction that has helped juice summer sales. That reliable revenue stream also throws off a plump dividend of 2.8%.
PepsiCo (NYSE:PEP)
If you’re looking for another domestic consumer powerhouse with an emerging market footprint, PepsiCo is a good choice. In the latest quarter, beverage volume growth increased 13% in China, 17% in India and 15% in Turkey. And beyond these brisk drink sales abroad, there are plenty of foodstuffs that will keep revenues booming at home, even in tough times — including products like Quaker Oats and Lays potato chips.
Pepsi just took a tumble after its recent earnings report and disappointing outlook, but this sell-off might be a buying opportunity. PepsiCo raised its dividend for its 39th consecutive year in May, proving the bulletproof distributions from PEP stock. The company now yields 3.1% and has seen an annual growth rate of 12.6% in its dividend during the past five years — a sign of stable income if ever there was one.
Colgate-Palmolive (NYSE:CL)
Consumer products giant Colgate-Palmolive made waves this year with its purchase of the Sanex personal care brand in Europe from Unilever PLC (NYSE:UL) for about $950 million. That will give the already dominant company an opportunity to expand its footprint even more overseas. Colgate already has seen a 10% increase in revenue for its full fiscal year of 2010 compared with 2008 numbers, and the Sanex buyout will mean continued growth.
And you can’t get much more stable than a company selling soap and toothpaste — consumer products like that will sell no matter what mayhem tomorrow brings. On the dividend side, the 2.7% yield isn’t overly impressive but is rock solid. Colgate has paid dividends since 1985 and has seen 48 consecutive annual increases in its distributions.
Lorillard (NYSE:LO)
One of America’s smaller tobacco companies, the most successful Lorillard product is menthol cigarettes under the Newport brand. But while LO might not be on top of the heap in the tobacco market, its numbers are more impressive than some bigger rivals. Lorillard has seen revenue increase for each of the past four fiscal years, and its stock value has jumped almost 40% in the past 12 months to double the broader market’s returns.
While cigarette sales overall have been in a slow decline recently because of excise tax increases – not to mention the obvious health risks of smoking – Lorillard has managed to actually grow sales in its top Newport and Maverick brands. Revenue and earnings both rose about 11% in its most recent quarterly report. LO currently yields 4.8% but has seen two dividend increases since early 2010. (source www.investorplace.com )
Wednesday, July 27, 2011
what will happen if us credit rating is downgraded
what will happen if us credit rating is downgraded ; Financial analysts are saying that the United States faces the loss of its top AAA credit rating even if President Barack Obama and Congress reach an agreement in the next few days to raise the nation’s borrowing limit.
Most analysts say they think the president and lawmakers will craft a last-minute deal to raise the country’s $14.3 trillion debt limit before Tuesday’s deadline and avert the possibility that the nation might default on its financial obligations.
Standard & Poor’s earlier this month placed the U.S. government on a negative credit watch, warning that it might cut the country’s credit standing if it does not think the spending cuts under any agreement are big enough.
S&P says it has been looking for spending cuts of $4 trillion over the next decade. The two main plans currently being considered by Congress call for cuts ranging from $2.7 trillion to $3 trillion. The ratings agency has declined to comment on the specific debt and spending proposals.
A credit downgrade for the U.S. could prove detrimental as the country struggles to regain its economic footing. With a lower credit rating, the government’s borrowing costs would likely increase, by $100 billion annually by one estimate. Interest rates on home mortgages, and loans for cars and other purchases could also increase, cutting into consumers’ spending power.
Most analysts say they think the president and lawmakers will craft a last-minute deal to raise the country’s $14.3 trillion debt limit before Tuesday’s deadline and avert the possibility that the nation might default on its financial obligations.
Standard & Poor’s earlier this month placed the U.S. government on a negative credit watch, warning that it might cut the country’s credit standing if it does not think the spending cuts under any agreement are big enough.
S&P says it has been looking for spending cuts of $4 trillion over the next decade. The two main plans currently being considered by Congress call for cuts ranging from $2.7 trillion to $3 trillion. The ratings agency has declined to comment on the specific debt and spending proposals.
A credit downgrade for the U.S. could prove detrimental as the country struggles to regain its economic footing. With a lower credit rating, the government’s borrowing costs would likely increase, by $100 billion annually by one estimate. Interest rates on home mortgages, and loans for cars and other purchases could also increase, cutting into consumers’ spending power.
Monday, July 25, 2011
IMF warns of US. debt ceiling on global economic repercussions
IMF warns of US. debt ceiling on global economic repercussions : The International Monetary Fund urged the United States to swiftly raise the debt ceiling to ward off risks of a credit downgrade that could damage the global economy.
The IMF appeal was part of a review of US economic prospects in which it concluded a slow-paced recovery can continue with some fiscal tightening while also stressing its concern about getting government debts under control. "Directors (on the IMF board) highlighted the urgency of raising the federal debt ceiling and agreeing on the specifics of a comprehensive medium-term consolidation program," the global lender said.
Talks between the Obama administration and lawmakers to craft a plan to avoid potential US default seemed to be making scant progress.
Facing an Aug. 2 deadline after which the United States may not be able to issue more debt, both sides have so far refused to compromise on how to lift the $14.3-trillion legal borrowing limit and come to grips with spending and tax issues.
The IMF, which held talks with senior administration officials while preparing its assessment, clearly opted for a broad-based plan over stop-gap measures.
It said some action to rein in debts must start in fiscal 2012, which begins on Oct. 1, or the United States will face a disruptive loss of credibility.
"The strategy should include entitlement reforms, including additional savings in health care, as well as revenue increases, including by reducing tax expenditures," it said.
IMF staff said risks to the US outlook were rising. Those include the possibility of a sudden increase in interest rates or a sovereign downgrade in US debt - basically a decision by ratings agencies to rank the United States as less creditworthy - if agreement to raise the debt ceiling and install a medium-term plan for debt reduction is not soon reached.
"These risks would also have significant global repercussions, given the central role of US Treasury bonds in world financial markets," the IMF said.
At best, it estimated only a soft expansion for the US economy from 2012 onward, likely between 2-3/4 percent and 3 percent that would bring only moderate income gains and slow reduction in heightened unemployment rates.
That was little changed from its most recent official assessment, published in the IMF's June World Economic Outlook, in which it estimated U.S. expansion at 2.5 percent in 2011 and 2.7 percent in 2012.
A co-founder of the influential Economic Cycle Research Institute that tracks recessions and recoveries, noted the political imbroglio over debt was playing into an already soft growth scenario and could make a bad situation worse.
The IMF appeal was part of a review of US economic prospects in which it concluded a slow-paced recovery can continue with some fiscal tightening while also stressing its concern about getting government debts under control. "Directors (on the IMF board) highlighted the urgency of raising the federal debt ceiling and agreeing on the specifics of a comprehensive medium-term consolidation program," the global lender said.
Talks between the Obama administration and lawmakers to craft a plan to avoid potential US default seemed to be making scant progress.
Facing an Aug. 2 deadline after which the United States may not be able to issue more debt, both sides have so far refused to compromise on how to lift the $14.3-trillion legal borrowing limit and come to grips with spending and tax issues.
The IMF, which held talks with senior administration officials while preparing its assessment, clearly opted for a broad-based plan over stop-gap measures.
It said some action to rein in debts must start in fiscal 2012, which begins on Oct. 1, or the United States will face a disruptive loss of credibility.
"The strategy should include entitlement reforms, including additional savings in health care, as well as revenue increases, including by reducing tax expenditures," it said.
IMF staff said risks to the US outlook were rising. Those include the possibility of a sudden increase in interest rates or a sovereign downgrade in US debt - basically a decision by ratings agencies to rank the United States as less creditworthy - if agreement to raise the debt ceiling and install a medium-term plan for debt reduction is not soon reached.
"These risks would also have significant global repercussions, given the central role of US Treasury bonds in world financial markets," the IMF said.
At best, it estimated only a soft expansion for the US economy from 2012 onward, likely between 2-3/4 percent and 3 percent that would bring only moderate income gains and slow reduction in heightened unemployment rates.
That was little changed from its most recent official assessment, published in the IMF's June World Economic Outlook, in which it estimated U.S. expansion at 2.5 percent in 2011 and 2.7 percent in 2012.
A co-founder of the influential Economic Cycle Research Institute that tracks recessions and recoveries, noted the political imbroglio over debt was playing into an already soft growth scenario and could make a bad situation worse.
Sunday, July 24, 2011
U.S. dollar may fall impact U.S. debt ceiling as August 2 deadline
U.S. dollar may fall imfact U.S. debt ceiling as August 2 deadline : The U.S. dollar may fall next week on concern the United States may lose its top-notch credit rating with politicians nowhere close to reaching an agreement on lifting the U.S. debt ceiling as an August 2 deadline looms.
Fears of a full-blown euro zone debt crisis have subsided for now after the announcement of a second bailout for Greece and the focus is shifting to Washington where efforts to avoid a U.S. default enter crunch time.
The drawn-out battle has dented risk appetite in recent weeks and led ratings agencies to warn of a potential downgrade. Such a move, some fear, could send interest rates soaring and erode the dollar's reserve currency status.
Dollar investors have so far been complacent as the U.S. currency rose against the euro and a basket on Friday. Most investors expect some sort of deal by August 2 to avoid a default, although some fear that failure to reach a major deficit cut plan could lead to a credit ratings cut. That worry is set to grow as time is running out.
"If the markets don't hear anything going into the weekend, I think the first instinct will be to sell first and ask questions later," said Boris Schlossberg, director of currency research at GFT in New York.
"There's much less cooperation amongst the U.S. legislators than there is amongst the Europeans. That kind of dichotomy could begin to hurt the dollar ..."
While efforts to craft a $3 trillion deficit-reduction deal gained traction on Thursday, the White House and Republicans have not broken their impasse over higher taxes, which are opposed by the Republicans, who control the lower house.
The White House initially set a July 22 target for a deal that would leave enough time to get it through the legislative process. But it has backed off that timeframe.
"It's brinkmanship and no one's going to blink until they really have to," said Mark McCormick, currency strategist at Brown Brothers Harriman in New York. "The market would really like to see a big deal, something along the lines of $3 to $4 trillion that really addresses the structural problems of the U.S. economy."
RISK OF DOWNGRADE
Standard & Poor's said on Thursday there is a 50-50 chance the U.S. AAA credit rating could be cut within three months.
"The potential for the U.S. to lose its triple-A rating is definitely there," said Andrew Busch, global currency and public policy strategist at BMO Capital Markets in Chicago. "That is going to be problematic for the markets, which would cause the market probably to sell the U.S. dollar."
Analysts expect the dollar to weaken especially against the safe-haven Japanese yen and Swiss franc.
The debt ceiling impasse has also whipsawed 30-year Treasury bonds lately, as the long-dated debt is most vulnerable if the country fails to reduce its deficit.
A downgrade to AA will likely hurt Treasuries, though most fund managers are not thought to be restricted by the government debt's ratings and thus are unlikely to be forced to sell the debt.
Thomas Higgins, global macro strategist at Standish Mellon Asset management, said that ironically, in the event of a U.S. default, which is highly unlikely, investors may want to be overweight Treasuries in the short term because of the negative implications for economic growth. Standish oversees $80 billion in assets.
SINGING KUMBAYA
The euro last traded down 0.4 percent at $1.4361. The dollar also rose 0.3 percent to 0.8178 Swiss franc, off a record low of 0.8034 set on Monday. It also rebounded from an earlier four-month trough of 78.22 yen to last trade at 78.43 yen.
"The dollar has remained largely unmoved thus far because no one wants to be caught with a short position in the event that Congress starts singing 'kumbaya'," said Karl Schamotta, senior market strategist at Western Union Business Solutions. "The markets have already largely discounted a positive outcome."
Some analysts are sceptical how much the dollar could benefit even if politicians make notable progress on a deal.
Alan Ruskin, global head of G10 currency strategy at Deutsche Bank in New York, said while a rally in the first 24 hours is possible, the dollar could come under renewed pressure as an increase in global risk appetite encourages investors to use the dollar as a funding currency. (source http://www.reuters.com )
will august 2 affect dollar exchange rate, us dollar prediction after aug 2, us dollar prediction 2 August, dollar value us defalt, will august 2 affect dollar exchange rate, , u s debt the nearer to 2 august will the dollar fallwhat will happen in USA after august 2nd?, what happens to the dollar if default,
Fears of a full-blown euro zone debt crisis have subsided for now after the announcement of a second bailout for Greece and the focus is shifting to Washington where efforts to avoid a U.S. default enter crunch time.
The drawn-out battle has dented risk appetite in recent weeks and led ratings agencies to warn of a potential downgrade. Such a move, some fear, could send interest rates soaring and erode the dollar's reserve currency status.
Dollar investors have so far been complacent as the U.S. currency rose against the euro and a basket on Friday. Most investors expect some sort of deal by August 2 to avoid a default, although some fear that failure to reach a major deficit cut plan could lead to a credit ratings cut. That worry is set to grow as time is running out.
"If the markets don't hear anything going into the weekend, I think the first instinct will be to sell first and ask questions later," said Boris Schlossberg, director of currency research at GFT in New York.
"There's much less cooperation amongst the U.S. legislators than there is amongst the Europeans. That kind of dichotomy could begin to hurt the dollar ..."
While efforts to craft a $3 trillion deficit-reduction deal gained traction on Thursday, the White House and Republicans have not broken their impasse over higher taxes, which are opposed by the Republicans, who control the lower house.
The White House initially set a July 22 target for a deal that would leave enough time to get it through the legislative process. But it has backed off that timeframe.
"It's brinkmanship and no one's going to blink until they really have to," said Mark McCormick, currency strategist at Brown Brothers Harriman in New York. "The market would really like to see a big deal, something along the lines of $3 to $4 trillion that really addresses the structural problems of the U.S. economy."
RISK OF DOWNGRADE
Standard & Poor's said on Thursday there is a 50-50 chance the U.S. AAA credit rating could be cut within three months.
"The potential for the U.S. to lose its triple-A rating is definitely there," said Andrew Busch, global currency and public policy strategist at BMO Capital Markets in Chicago. "That is going to be problematic for the markets, which would cause the market probably to sell the U.S. dollar."
Analysts expect the dollar to weaken especially against the safe-haven Japanese yen and Swiss franc.
The debt ceiling impasse has also whipsawed 30-year Treasury bonds lately, as the long-dated debt is most vulnerable if the country fails to reduce its deficit.
A downgrade to AA will likely hurt Treasuries, though most fund managers are not thought to be restricted by the government debt's ratings and thus are unlikely to be forced to sell the debt.
Thomas Higgins, global macro strategist at Standish Mellon Asset management, said that ironically, in the event of a U.S. default, which is highly unlikely, investors may want to be overweight Treasuries in the short term because of the negative implications for economic growth. Standish oversees $80 billion in assets.
SINGING KUMBAYA
The euro last traded down 0.4 percent at $1.4361. The dollar also rose 0.3 percent to 0.8178 Swiss franc, off a record low of 0.8034 set on Monday. It also rebounded from an earlier four-month trough of 78.22 yen to last trade at 78.43 yen.
"The dollar has remained largely unmoved thus far because no one wants to be caught with a short position in the event that Congress starts singing 'kumbaya'," said Karl Schamotta, senior market strategist at Western Union Business Solutions. "The markets have already largely discounted a positive outcome."
Some analysts are sceptical how much the dollar could benefit even if politicians make notable progress on a deal.
Alan Ruskin, global head of G10 currency strategy at Deutsche Bank in New York, said while a rally in the first 24 hours is possible, the dollar could come under renewed pressure as an increase in global risk appetite encourages investors to use the dollar as a funding currency. (source http://www.reuters.com )
will august 2 affect dollar exchange rate, us dollar prediction after aug 2, us dollar prediction 2 August, dollar value us defalt, will august 2 affect dollar exchange rate, , u s debt the nearer to 2 august will the dollar fallwhat will happen in USA after august 2nd?, what happens to the dollar if default,
Saturday, July 23, 2011
President Obama Willing To Raise Debt Ceiling On His Own
President Obama Willing To Raise Debt Ceiling On His Own ; President Barack Obama and House Speaker John Boehner might not agree on how to slash the country's deficit, but they agree on one thing: They are convinced the nation's $14.29 trillion debt ceiling will be raised.
President Obama, sounding at times exasperated that talks broke down with Boehner (R., Ohio), said no matter what happens, the debt ceiling must be raised. He said he'll tell that to congressional leaders Saturday when they meet at the White House.
The only bottom line that I have is that we have to extend this debt ceiling through the next election, into 2013," Obama said. Boehner said he is " convinced" the debt ceiling will be raised.
But how can they be so confident?
"I am confident simply because I cannot believe that Congress would end up being that irresponsible that they would not send a package that avoids a self- inflicted wound to the economy at a time when things are so difficult," Obama said.
He also signaled he'd take the responsibility himself. "I'm happy to do it," Obama said.
Boehner also said Friday that, despite talks breaking down, he's "convinced" the debt ceiling will be raised.
Obama currently doesn't have the power to raise the debt ceiling without Congress. But a last-ditch option that is being discussed by Senate Majority Leader Harry Reid (D., Nev.) and Senate Minority Leader Mitch McConnell (R., Ky.) would give him power to request a boost in the debt ceiling. Then, though a series of complicated votes, only a minority of lawmakers would be required to raise it.
President Obama said he wants a clear understanding before the weekend ends of what the next move is. He said lawmakers need to recognize "that Wall Street will be opening on Monday and we better have some answers during the course of the next several days."
President Obama said he still wants to continue to try and find common ground on slashing the deficit. Only raising the debt ceiling, Obama warned, might not be enough to avoid a downgrading of U.S. debt.
"If we can't come up with a serious plan for actual deficit and debt reduction, and all we're doing is extending the debt ceiling for another six, seven, eight months, then the probabilities of downgrading U.S. credit are increased," Obama said. He continued, "And that will be an additional cloud over the economy and make it more difficult for us and more difficult for businesses to create jobs that the American people so desperately need." source ; http://www.nasdaq.com
President Obama, sounding at times exasperated that talks broke down with Boehner (R., Ohio), said no matter what happens, the debt ceiling must be raised. He said he'll tell that to congressional leaders Saturday when they meet at the White House.
The only bottom line that I have is that we have to extend this debt ceiling through the next election, into 2013," Obama said. Boehner said he is " convinced" the debt ceiling will be raised.
But how can they be so confident?
"I am confident simply because I cannot believe that Congress would end up being that irresponsible that they would not send a package that avoids a self- inflicted wound to the economy at a time when things are so difficult," Obama said.
He also signaled he'd take the responsibility himself. "I'm happy to do it," Obama said.
Boehner also said Friday that, despite talks breaking down, he's "convinced" the debt ceiling will be raised.
Obama currently doesn't have the power to raise the debt ceiling without Congress. But a last-ditch option that is being discussed by Senate Majority Leader Harry Reid (D., Nev.) and Senate Minority Leader Mitch McConnell (R., Ky.) would give him power to request a boost in the debt ceiling. Then, though a series of complicated votes, only a minority of lawmakers would be required to raise it.
President Obama said he wants a clear understanding before the weekend ends of what the next move is. He said lawmakers need to recognize "that Wall Street will be opening on Monday and we better have some answers during the course of the next several days."
President Obama said he still wants to continue to try and find common ground on slashing the deficit. Only raising the debt ceiling, Obama warned, might not be enough to avoid a downgrading of U.S. debt.
"If we can't come up with a serious plan for actual deficit and debt reduction, and all we're doing is extending the debt ceiling for another six, seven, eight months, then the probabilities of downgrading U.S. credit are increased," Obama said. He continued, "And that will be an additional cloud over the economy and make it more difficult for us and more difficult for businesses to create jobs that the American people so desperately need." source ; http://www.nasdaq.com
Effects of US default on stock market
Effects of US default on stock market ; If the United States runs short of cash to honor its obligations next month, the economic impact would be fast and furious.
The country almost certainly would not default on its loans to bond holders, but all other payments would be thrown into doubt. That could start a cascading effect on jobs, loans, investments, prices - virtually every facet of Americans' financial lives.
Would there be broader economic effects?
Almost certainly. The most likely is a rise in interest rates, prompted by a decline in the number of bidders for new Treasury bonds. That would raise the costs of home mortgages, student loans, credit cards and auto loans. It also would increase the federal deficit by raising interest rates on the debt.
What about personal investments?
If the economy goes into a swoon, the stock market will feel the effects, and your 401(k) and other accounts could take a beating.
How about jobs?
Again, it depends on how deep the economic impact, but certainly the unemployment rate could increase because of the federal dollars that are missing and the jolt to financial markets.
What would happen to the government's triple-A bond ratings?
All three major ratings agencies have sent warnings, but it's unclear whether they would downgrade the ratings unless the United States actually defaults on its bonds, which is unlikely.
How does our situation compare to other countries with debt problems, such as Greece?
It's not nearly as bad - but the trends are headed in that direction. The U.S. public debt - what we owe to private investors, much of it held overseas - is about 70 percent the size of the economy. Counting state and local debt, it's 93 percent. In Greece, it's about 130 percent.
How a US default will affect on stock market ?
The country almost certainly would not default on its loans to bond holders, but all other payments would be thrown into doubt. That could start a cascading effect on jobs, loans, investments, prices - virtually every facet of Americans' financial lives.
Would there be broader economic effects?
Almost certainly. The most likely is a rise in interest rates, prompted by a decline in the number of bidders for new Treasury bonds. That would raise the costs of home mortgages, student loans, credit cards and auto loans. It also would increase the federal deficit by raising interest rates on the debt.
What about personal investments?
If the economy goes into a swoon, the stock market will feel the effects, and your 401(k) and other accounts could take a beating.
How about jobs?
Again, it depends on how deep the economic impact, but certainly the unemployment rate could increase because of the federal dollars that are missing and the jolt to financial markets.
What would happen to the government's triple-A bond ratings?
All three major ratings agencies have sent warnings, but it's unclear whether they would downgrade the ratings unless the United States actually defaults on its bonds, which is unlikely.
How does our situation compare to other countries with debt problems, such as Greece?
It's not nearly as bad - but the trends are headed in that direction. The U.S. public debt - what we owe to private investors, much of it held overseas - is about 70 percent the size of the economy. Counting state and local debt, it's 93 percent. In Greece, it's about 130 percent.
How a US default will affect on stock market ?
effect debt ceiling on stock market
effect debt ceiling on stock market ; if you're like most Americans, the term "debt ceiling" probably didn't mean much to you until recently. Now, of course, the debt ceiling debate is front-page news, day after day. As a citizen, you're no doubt hoping the situation is resolved in the best interests of the country. But as an investor, you might be especially concerned about what could happen to your holdings, and your overall investment strategy, if the debt ceiling is not increased by the Aug. 2 deadline.
Before you consider how the situation might affect you, let's quickly review just what is meant by the term "debt ceiling" and what might happen if no agreement is reached. Essentially, the debt ceiling is the legal limit on borrowing by the federal government. If Congress doesn't increase the limit, borrowed funds wouldn't be available to pay bills, so the U.S. could be forced to default on its debt obligations, which would be unprecedented.
How a debt ceiling crash will affect US IT
But for IT, the economic uncertainties will bring a climate that IT is already familiar with: lots of rapid change. Short term, as the government increasingly loses cash flow, obligations likely can't or won't be paid, and may be partially paid or delayed. Geithner has wide latitude in the policies of what will be paid versus unpaid, versus paid in deferment. Read More...
How Congress' dithering on the debt ceiling is already dragging down the economy.
Yes, the stock market is up, and bond yields are low. And the government's borrowing costs remain cheap: Interest on a 10-year Treasury bond is less than 3 percent. But a closer look shows that Congress is starting to spook investors, business owners, and individuals. It has introduced a modicum of much-dreaded uncertainty into their lives. And when investors are uncertain and businesses are afraid, they hunker down in ways that are very bad for the economy. So Congress may not have succeeded in blowing up the markets just yet. But fear not. There are signs it is weakening the anemic recovery. Read More...
U.S. Stocks Retreat as Debt-Limit Concern Offsets Apple Earnings
U.S. stocks fell, a day after the best rally since March for the Standard & Poor’s 500 Index, as concern the government will fail to increase the debt limit overshadowed higher-than-estimated earnings at Apple Inc. (AAPL) Read More...
Fund Managers can't ignore debt ceiling politics
The possibility that stock and bond markets could be in for another jolt has Castagliuolo watching the ongoing developments in Washington as closely as he tracks Wall Street. Read More...
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Before you consider how the situation might affect you, let's quickly review just what is meant by the term "debt ceiling" and what might happen if no agreement is reached. Essentially, the debt ceiling is the legal limit on borrowing by the federal government. If Congress doesn't increase the limit, borrowed funds wouldn't be available to pay bills, so the U.S. could be forced to default on its debt obligations, which would be unprecedented.
How a debt ceiling crash will affect US IT
But for IT, the economic uncertainties will bring a climate that IT is already familiar with: lots of rapid change. Short term, as the government increasingly loses cash flow, obligations likely can't or won't be paid, and may be partially paid or delayed. Geithner has wide latitude in the policies of what will be paid versus unpaid, versus paid in deferment. Read More...
How Congress' dithering on the debt ceiling is already dragging down the economy.
Yes, the stock market is up, and bond yields are low. And the government's borrowing costs remain cheap: Interest on a 10-year Treasury bond is less than 3 percent. But a closer look shows that Congress is starting to spook investors, business owners, and individuals. It has introduced a modicum of much-dreaded uncertainty into their lives. And when investors are uncertain and businesses are afraid, they hunker down in ways that are very bad for the economy. So Congress may not have succeeded in blowing up the markets just yet. But fear not. There are signs it is weakening the anemic recovery. Read More...
U.S. Stocks Retreat as Debt-Limit Concern Offsets Apple Earnings
U.S. stocks fell, a day after the best rally since March for the Standard & Poor’s 500 Index, as concern the government will fail to increase the debt limit overshadowed higher-than-estimated earnings at Apple Inc. (AAPL) Read More...
Fund Managers can't ignore debt ceiling politics
The possibility that stock and bond markets could be in for another jolt has Castagliuolo watching the ongoing developments in Washington as closely as he tracks Wall Street. Read More...
what will happen to the stock market if the debt ceiling is not raised, what happens if there is a rating downgrade, how will the debt ceiling affect the stock market, debt ceiling impact on dollar, default effect on dollar, how would u s a not raise debt ceiling effect canadian stock market, effect of debt ceiling on stock market, effects on dollar raising debt ceilinh, us treasury downgrade, what will happen in USA after august 2nd?, what happens to the bond market if the debt ceiling is not raised, what happens to the dollar if default, debt ceiling vote effect on stocks.
Monday, July 18, 2011
Global chemical industry Outlook 2011
Global chemical industry Outlook 2011 : A new report from Deloitte's Global Manufacturing Industry group, Compass 2011: Global chemicals sector mid-year outlook, indicates that the chemicals industry is continuing to recoverwith revenue growing at a compounded annual growth rate of 7.9% over the near term. Higher prices and improving global economic conditions, leading to increased demand in the end markets for chemical products, have contributed to the revenue growth. The trend is expected to continue in the second half of 2011.
Chemical Industry Outlook - May 2011 - Zacks Analyst Interviews
Chemicals are generally used to make a wide variety of consumer goods and are also used in agriculture, manufacturing, construction, and service industries. The chemical industry itself consumes 26% of its own output. Major industrial customers include rubber and plastic products, textiles, apparel, petroleum refining, pulp and paper, and primary metals. Read More...
Americas chemical industry outlook for 2011
he following OUTLOOK '11 stories were published by ICIS from Friday 24 December 2010 to Monday 3 January 2011. Please click on the headlines to read the full versions.
Read More...
The Global Pharmaceutical Fine Chemicals Market Outlook to 2015
This report provides a comprehensive overview of the global pharmaceutical fine chemicals market including the classification of PFCs, demand/supply dynamics, and the key deals and alliances in the PFC market. The report also analyzes the global PFC industry in terms of market dynamics (market size, drivers and resistors of growth), key merger and acquisitions and recent trends in the industry. Read More...
global chemistry production, global chemical industry 2011, value of the global chemicals industry 2011, what is the largest chemical company in the world in 2011, global chemical export growth, US chemical industry overview, US natural gas industry growth rate 2011-2012, ACC output index chemical, world chemical demand 2011, world chemical industry 2011 profit
Chemical Industry Outlook - May 2011 - Zacks Analyst Interviews
Chemicals are generally used to make a wide variety of consumer goods and are also used in agriculture, manufacturing, construction, and service industries. The chemical industry itself consumes 26% of its own output. Major industrial customers include rubber and plastic products, textiles, apparel, petroleum refining, pulp and paper, and primary metals. Read More...
Americas chemical industry outlook for 2011
he following OUTLOOK '11 stories were published by ICIS from Friday 24 December 2010 to Monday 3 January 2011. Please click on the headlines to read the full versions.
Read More...
The Global Pharmaceutical Fine Chemicals Market Outlook to 2015
This report provides a comprehensive overview of the global pharmaceutical fine chemicals market including the classification of PFCs, demand/supply dynamics, and the key deals and alliances in the PFC market. The report also analyzes the global PFC industry in terms of market dynamics (market size, drivers and resistors of growth), key merger and acquisitions and recent trends in the industry. Read More...
global chemistry production, global chemical industry 2011, value of the global chemicals industry 2011, what is the largest chemical company in the world in 2011, global chemical export growth, US chemical industry overview, US natural gas industry growth rate 2011-2012, ACC output index chemical, world chemical demand 2011, world chemical industry 2011 profit
Sunday, July 17, 2011
Financial Market and Economic news for week July 18 to 22nd 2011
Financial Market and Economic news calendar for week July 18th to July 22nd 2011 ; In the upcoming week the indicators regarding the US housing market will be published such as the US housing starts; Canadian rate will be decided; US TIC long term purchases; Ben Bernanke to testify and many more news items are coming ahead in this busy week. Here is an economic news calendar for the week of July 18th to July 22nd that highlights the main news items and reports related to Europe, U.S, China, Australia and Canada.
1. Monday 18th of July 2011 time 14:00
US TIC long term purchases: This report of the Treasury International Capital shows the main changes in the purchases and sales of US long term treasuries during May 2011. In the previous report regarding April 2011, the net foreign purchases reached $30.6 billion; the increase in purchases was mainly driven by China. In the upcoming report there might continue to be a rise in purchases
2. Monday 18th of July 2.30
Monetary Policy meeting Australia’s Bank : The minutes of the monetary policy meeting of the reserve bank of Australia will be published; it shows the main domestic and international factors that affected the board’s decisions on the Bank’s basic interest rate which is at 4.75%; this decision might also affect the AUD/USD and if so may have an effect on major commodities including gold and crude oil
3. Tuesday 19th of July 13.30
U.S. Building Permits: The recent report showed an improvement as the adjusted annual rate reached 612,000 building permits in May 2011, which is 8.7% above the April rate of 563,000 building permits. If this report will continue to show a rise in the building permits rate, it may indicate the housing market in the US is pulling out of its recession
4. Tuesday 19th of July 13.30
U.S. Housing Starts: The additional figure to be published by the US Census Bureau involves the US housing starts; this figure was historically correlated with gold price – as housing starts rise the following day gold price usually declined (even when controlling to the US dollar effect); in the last report the adjusted annual rate reached 560,000 in May 2011, which is 3.5% above the April rate of 541,000
5. Tuesday 19th of July 14.00
Canada overnight rate: The Bank of Canada will publish its decision about the overnight interest rate, which remained unchanged in the last decision made on May 31st at 1%. Economists speculate that the BOC will keep the rate unchanged, despite the recent hike in the inflation rate, which was mainly driven from the high energy prices. This decision could affect the CAD/USD; there are strong correlations among the Canadian dollar and major commodities that export including crude oil and gold;
6. Tuesday 19th of July 15:00
U.S. existing home sales: This report shows the major changes in existing home sales in the U.S. for June 2011; in the recent report related to May there was a drop in number of homes sold by 3.8% to an annual rate of 4.81 million, despite the rise during the previous months.
7. Wednesday 13th of July 15:30
EIA report about Crude oil inventories: The EIA (Energy Information Administration) will publish its weekly report on the U.S Petroleum report; last week the US oil stocks inclined again last week by 4.314 million barrels, or by 0.24% – the highest injection since May 27th. For the week ending on July 8th crude oil stocks reached 1,796 million barrels – the highest stockpiles since February 4th, 2011.
8. Thursday 21st of July 13:30
Department of Labor report – U.S. unemployment claims: For the week ending on July 9th, initial claims decreased by 22,000, as it reached 405,000 claims; the insured unemployment rate remained unchanged at 3% for the week ending on July 2nd; and the number of insured unemployment was 3.727 million, an increase of 15,000 compared with the previous week’s.
9. Thursday 21st of July 15.00
Ben Bernanke, Chairman of Fed, testifies: The Federal Reserve chairman’s is expected to testify at the Dodd Frank Act Anniversary, in Washington DC. In his last testimony before the US House of Representatives, Bernanke opened the door for stimulus plans in the near future if the US economy won’t turn around; this news might have been among the reasons the US dollar declined sharply during last week; he might consider reversing his position and reassure the market that the Fed won’t consider in the near future a quantitative easing plan.
10. Thursday 21st of July 15:30
EIA report about Natural gas storage: the natural gas started to cool down; the EIA will publish its U.S. natural gas stocks, production and consumption report for the week ending on July 15th. In the recent report, natural gas storage inclined by 3.3% or by 84 Bcf; as a result, the natural gas storage inclined to 2.611 billion cubic feet; the natural gas storage is still 2% below the 5-year average
11. Friday 22nd of July 13.00
Canadian Core CPI: This report will pertain June 2011 and will show the main changes in the core consumer price index which excludes the most volatile components such as energy, fruit and vegetables. According to the recent Canadian statistics report for May 2011, the CPI rose by 3.7% in 12 month up to May, the largest increase since March 2003. The main reason for this rate is related to the energy prices that increased by 16.6% during the 12 months up to May 2011.
1. Monday 18th of July 2011 time 14:00
US TIC long term purchases: This report of the Treasury International Capital shows the main changes in the purchases and sales of US long term treasuries during May 2011. In the previous report regarding April 2011, the net foreign purchases reached $30.6 billion; the increase in purchases was mainly driven by China. In the upcoming report there might continue to be a rise in purchases
2. Monday 18th of July 2.30
Monetary Policy meeting Australia’s Bank : The minutes of the monetary policy meeting of the reserve bank of Australia will be published; it shows the main domestic and international factors that affected the board’s decisions on the Bank’s basic interest rate which is at 4.75%; this decision might also affect the AUD/USD and if so may have an effect on major commodities including gold and crude oil
3. Tuesday 19th of July 13.30
U.S. Building Permits: The recent report showed an improvement as the adjusted annual rate reached 612,000 building permits in May 2011, which is 8.7% above the April rate of 563,000 building permits. If this report will continue to show a rise in the building permits rate, it may indicate the housing market in the US is pulling out of its recession
4. Tuesday 19th of July 13.30
U.S. Housing Starts: The additional figure to be published by the US Census Bureau involves the US housing starts; this figure was historically correlated with gold price – as housing starts rise the following day gold price usually declined (even when controlling to the US dollar effect); in the last report the adjusted annual rate reached 560,000 in May 2011, which is 3.5% above the April rate of 541,000
5. Tuesday 19th of July 14.00
Canada overnight rate: The Bank of Canada will publish its decision about the overnight interest rate, which remained unchanged in the last decision made on May 31st at 1%. Economists speculate that the BOC will keep the rate unchanged, despite the recent hike in the inflation rate, which was mainly driven from the high energy prices. This decision could affect the CAD/USD; there are strong correlations among the Canadian dollar and major commodities that export including crude oil and gold;
6. Tuesday 19th of July 15:00
U.S. existing home sales: This report shows the major changes in existing home sales in the U.S. for June 2011; in the recent report related to May there was a drop in number of homes sold by 3.8% to an annual rate of 4.81 million, despite the rise during the previous months.
7. Wednesday 13th of July 15:30
EIA report about Crude oil inventories: The EIA (Energy Information Administration) will publish its weekly report on the U.S Petroleum report; last week the US oil stocks inclined again last week by 4.314 million barrels, or by 0.24% – the highest injection since May 27th. For the week ending on July 8th crude oil stocks reached 1,796 million barrels – the highest stockpiles since February 4th, 2011.
8. Thursday 21st of July 13:30
Department of Labor report – U.S. unemployment claims: For the week ending on July 9th, initial claims decreased by 22,000, as it reached 405,000 claims; the insured unemployment rate remained unchanged at 3% for the week ending on July 2nd; and the number of insured unemployment was 3.727 million, an increase of 15,000 compared with the previous week’s.
9. Thursday 21st of July 15.00
Ben Bernanke, Chairman of Fed, testifies: The Federal Reserve chairman’s is expected to testify at the Dodd Frank Act Anniversary, in Washington DC. In his last testimony before the US House of Representatives, Bernanke opened the door for stimulus plans in the near future if the US economy won’t turn around; this news might have been among the reasons the US dollar declined sharply during last week; he might consider reversing his position and reassure the market that the Fed won’t consider in the near future a quantitative easing plan.
10. Thursday 21st of July 15:30
EIA report about Natural gas storage: the natural gas started to cool down; the EIA will publish its U.S. natural gas stocks, production and consumption report for the week ending on July 15th. In the recent report, natural gas storage inclined by 3.3% or by 84 Bcf; as a result, the natural gas storage inclined to 2.611 billion cubic feet; the natural gas storage is still 2% below the 5-year average
11. Friday 22nd of July 13.00
Canadian Core CPI: This report will pertain June 2011 and will show the main changes in the core consumer price index which excludes the most volatile components such as energy, fruit and vegetables. According to the recent Canadian statistics report for May 2011, the CPI rose by 3.7% in 12 month up to May, the largest increase since March 2003. The main reason for this rate is related to the energy prices that increased by 16.6% during the 12 months up to May 2011.
Wednesday, July 13, 2011
philippine inflation forecast 2011
philippine inflation forecast 2011 - philippine inflation prediction 2011 ; British banking giant Hong Kong and Shanghai Banking Corp. (HSBC) lowered its inflation forecast for the Philipines to five percent from 5.4 percent this year.
Inflation kicked up to a 13-month high of 4.5 percent in May from the revised 4.3 percent in April as core inflation — which excludes the volatile food and fuel items — rose to 3.7 percent from the revised 3.3 percent. This brought the average inflation in the first five months of the year to 4.2 percent from a year ago level of 4.3 percent.
Chan said HSBC lowered its inflation forecast to 4.6 percent from 5.2 percent in the second quarter, to 5.6 percent from 6.2 percent in the third; and to 5.7 percent from 5.9 percent in the fourth quarter due to the lower-than-expected inflation last month. “The inflation picture in the Philippines has been less worrying than expected,” the economist added.
Tag : special deposit account philippines, special deposit accounts philippines, 2012 pHILIPPINE iNFLATION RATE, bloomberg inflation forecast for the philippines, bloomberg philippines forecast 2012, Philippine 2012 inflation target of Central bank, philippine government inflation forecast 2011
Inflation kicked up to a 13-month high of 4.5 percent in May from the revised 4.3 percent in April as core inflation — which excludes the volatile food and fuel items — rose to 3.7 percent from the revised 3.3 percent. This brought the average inflation in the first five months of the year to 4.2 percent from a year ago level of 4.3 percent.
Chan said HSBC lowered its inflation forecast to 4.6 percent from 5.2 percent in the second quarter, to 5.6 percent from 6.2 percent in the third; and to 5.7 percent from 5.9 percent in the fourth quarter due to the lower-than-expected inflation last month. “The inflation picture in the Philippines has been less worrying than expected,” the economist added.
Tag : special deposit account philippines, special deposit accounts philippines, 2012 pHILIPPINE iNFLATION RATE, bloomberg inflation forecast for the philippines, bloomberg philippines forecast 2012, Philippine 2012 inflation target of Central bank, philippine government inflation forecast 2011
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