ZuluTrade Blog
Image

Market View

Oil rose to a nine-month high

Monday, February 20, 2012 9:11 AM GMT

Good morning,

- Asian stocks rallied, extending the longest run of weekly gains since 2005, and metals advanced after China’s central bank cut reserve requirements for banks. Oil rose to a nine-month high as Iran said it halted crude exports to French and British companies.

- Austrian FinMin Fekter signaled on Sunday that approval of a new bailout for Greece could be possible on Monday. Says there will be intense negotiations on control mechanisms at Monday’s meeting. But she doesn’t think there is a majority to go a different way.

- German FinMin Schaeuble said that euro-zone leaders will decide on a whole programme on Monday. Says no sense in splitting Greek aid package.

- Unnamed Greek government official told Reuters that Greece cabinet approved on Saturday to launch a debt swap for private creditors on March 8 and plans to complete it by March 11.

- EU Junker, Greece still well off the mark in reducing its debt/GDP ratio to 120% by 2020

- UK Rightmove house price index increased 4.1% mm in mid Feb. vs -0.8% mm in January

- BOE Posen: inflation likely to fall below target, policy on the right track

- UK chancellor seen on target to beat OBR debt forecast

- Japan's trade balance stood at a record deficit of JPY 1.48tn. January exports fell 9.3% wihle imports rose 9.8%yy. In January exports to China declined 20.1% yy while to the US rose 0.6% yy

- Japan and China vow to respond to any IMF funding requests to address Europe's debt woes

- S&P affirms Japan's AA-/A-1+ ratings, outlook remains negative

- A Japanese finance ministry official said that Japan had applied to buy about USD 10bn of Chinese bonds.

- BOJ Shirakawa Power easing to continue until 1% inflation target is foreseen

- Australian Prime Minister Gillard denies her job is under threat

- NZ Q4 producer prices retain firm pulse input prices +0.5%qq output prices +0.1%qq

- NZ service sector bounces from 12 month low in Jan, PSI rise to 53.6 from 50.9 in Dec

- NZ govt deficit exceeds forecast in Dec on lower tax intake

- Chinese VP Xi Jinping said that he expects China’s economy to expand by 8.5% in 2012 and for there to be no “drastic fall” in the growth rate

– Irish Times cited an interview.

- China to cut banks reserve rate requirements for major commercial banks by 50 bps to 20.5% effective Feb 24.

- Finance Ministry says details for South Korean government bond purchase by central banks including Swiss National Bank haven’t been decided.

  • Finance ministry says central banks from developed nations and Asia show interest in South Korean government bonds

  • Maeil Business Newspaper reported SNB to buy S. Korea govt. bonds


Today's Figures

US Presidents Day
08.45 FR Business climat
15.00 EZ Eurozone Finance Ministers meeting
15.00 GR Greece FinMin Venizelos speaks

(CET)

Comments are closed

Trading spot currencies involves substantial risk and there is always the potential for loss. Your trading results may vary. Because the risk factor is high in the foreign exchange market trading, only genuine "risk" funds should be used in such trading. If you do not have the extra capital that you can afford to lose, you should not trade in the foreign exchange market. Forex Brokers and ZuluTrade are compensated for their services through the spread between the bid/ask prices or there may be a cost to initiate a trade through the bid/ask spread. Signing up is totally free, and there is NO contract and NO monthly fees, ever.

This blog is for informational purposes only. This blog is not intended for distribution channels and may not be reproduced or distributed without the permission of Zulu Trade ltd or any of its affiliated entities (“ZuluTrade”). All opinions, news, prices or other information contained in this blog are provided as general market commentary and this report does not contain and it is in not to be considered in any circumstance as market analysis, offer or solicitation to buy or sell any financial instruments, personalized or general recommendation for any investment decision or investment strategy by ZuluTrade, in any jurisdiction in which such offer, solicitation, purchase or sale would be unlawful under the securities laws of such jurisdiction. The information contained in this blog should not be construed as financial or investment advice on any subject matter. The financial instruments referred to herein may not be suitable for all investors and any investments on such financial instruments requires the assessment by each investor and its counsels of the investor’s investment characteristics, including the investment risks which the latter is willing to assume. This blog has been based on information which has been made public, obtained from sources believed to be reliable, but it has not been verified by ZuluTrade. No representation or warranty (expressed or implied) is made as to the accuracy, completeness, correctness, timeliness or fairness of the information or opinions herein, all of which are subject to change without notice. No responsibility of liability whatsoever of howsoever arising is accepted in relation to the contents hereof by ZuluTrade or any of its directors, officers, employees. Further, no representation is being made that any results will be achieved, and past performance is not indicative of future performance.