Showing posts with label Development. Show all posts
Showing posts with label Development. Show all posts
Sunday, 16 September 2012
Monday, 18 June 2012
Microsoft Unveils 'Surface' Tablets
Microsoft unveils tablet it hopes will take on iPad
--Tablet runs on version of Windows 8 operating system
--Surface to be priced similarly to other tablets, company says
LOS ANGELES -- Microsoft Corp. (MSFT) unveiled on Monday a family of tablets that run the upcoming version of its Windows operating system, a move that comes as the software company races to catch up with Apple Inc. (AAPL) and Google Inc. (GOOG) in mobile computing.
At an event in Los Angeles, Microsoft Chief Executive Steve Ballmer introduced the company's Surface family of tablets. The devices, which feature magnesium bodies and built-in stands, run versions of Microsoft's Windows 8 operating system.
Mr. Ballmer said the Redmond, Wash., company recognized the importance of integrating software and hardware, a strategy that is the hallmark of rival Apple.
"With Windows 8, we didn't want to leave any seam uncovered," Mr. Ballmer said. "We wanted to give Windows 8 its own hardware companion.
"The surface is a PC. And the Surface is a tablet. The Surface is something new." Mr. Ballmer later said.
The Surface family comes with a magnetically attachable cover that has a built-in accelerometer. The inside of the cover is a full keyboard that recognizes the device when it is attached. The Surface's stand, called the Kickstand, snaps into place with an audible click. It has connection for charging and linking the tablet to peripherals and it will come with a Netflix (NFLX) application.
The Surface "works great for entertainment," said Steven Sinofsky, head of Microsoft's Windows division.
Microsoft has built a software business with $70 billion in annual revenue and left the computer hardware to allies such as Hewlett-Packard Co. (HPQ), Dell Inc. (DELL) and others. Now Microsoft will be going after tablet customers too.
A Dell spokesman said the company "remains a committed partner of Microsoft" and is continuing to develop a "full slate" of Windows 8 products.
H-P didn't immediately respond for comment.
"Don't focus too much on Microsoft competing with other PC vendors," said retail analyst Ross Rubin of NPD Group in a Tweet. "They all have the same main competitor in Apple."
The Surface is a compact 9.3 millimeters thin and weighs 1.5 pounds, very similar to Apple's iPad at 9.4 millimeters and 1.44 pounds for the model with WiFi. Besides the kickstand and detachable keyboard cover, the cover also has a trackpad.
Apple didn't immediately respond for comment on the Microsoft device.
Microsoft said the Surface would be priced comparably to other tablet computers and available simultaneously with release of Windows 8. It will appear first in the Microsoft Store online and through company retail locations.
Gartner analyst Carolina Milanesi said Surface will go on sale to capture the maximum benefit of the holiday gift season. Doing a prominent press event so far in advance is aimed at rallying applications developers behind the new platform.
"They now have a six month window to get developers they have on the PC side to join them on Windows 8 and this tablet," she said.
The Surface and other tablet versions of Windows will run on low-power chips designed by ARM Holdings PLC (ARMH). Windows 8 Pro versions of the Surface are aimed at enterprise computing customers and will run on chips made by Intel Corp. (INTC).
Microsoft made the announcement at the center of the music, film and television world, which Microsoft has already embraced to deliver content to its popular Xbox 360 game console. The Microsoft tablet will run the tablet version of Windows 8, called Windows RT. Windows 8 is the next edition of the company's flagship computer-operating system, which will for the first time run on both desktop computers and tablet devices.
Windows 8 is Microsoft's best hope for competing with devices running Google's (GOOG) Android operating system and with Apple's iPad and iPhone products. Microsoft has almost no presence in the tablet market, which is expected to double in size, with sales of 118.9 million units this year, according to research firm Gartner Inc. Apple's iPad is expected to account for a little less than two-thirds of those sales and Android machines for nearly a third.
Microsoft has spent the past two years developing Windows 8. The company is putting the finishing touches on the software before shipping it to manufacturers, which will load it on devices slated to hit stores in October or November, in time for the holiday-sales season.
Many companies have tried to compete with Apple's iPad with tablets based on the Google Android operating system, but few products have sold well. In smartphones, Android phones collectively have a majority of the market, but Apple's iPhone remains a dominant hit.
Microsoft has long manufactured keyboards, mice and other accessories, but hasn't always succeeded with consumer devices. Xbox has become the best selling gaming station, but its Zune music player, designed to compete with Apple's iPod, never caught on with music buffs. Its KIN mobile phone died a quick death shortly after it appeared in 2010. Handset maker Nokia Corp. (NOK) is now is leading phone partner.
-Ian Sherr contributed to this story.
Thursday, 14 June 2012
China Yuan Official Central Parity Rates for Friday
The China Foreign Exchange Trade System published the following official central parity rates for major currencies against the yuan Friday:
Friday Thursday
USD/CNY 6.3089 6.3191
HKD/CNY 0.81312 0.81446
JPY/CNY* 7.9509 7.9687
EUR/CNY 7.9596 7.9362
GBP/CNY 9.8040 9.8016
AUD/CNY 6.3136 6.2818
CAD/CNY 6.1628 6.1422
CNY/MYR 0.50366 0.50200
CNY/RUB 5.1300 5.1263
*per 100 yen
The daily central parity rate for the yuan versus the U.S. dollar is the
weighted average of prices given by market makers. The highest and lowest offers
are excluded from the calculation. In each daily trading session, the central bank allows the dollar/yuan rate to move no more than 1% above or below the central parity rate, and the yuan/ringgit and yuan/ruble to move no more than 5%. It allows other currency pairs to move as much as 3% above or below the central parity rate.
Wednesday, 13 June 2012
U.S. Stocks Turn Positive
Reported earlier: U.S. Stocks Mixed as Market Downplays Economic Data, EuropeBY ALEXANDRA SCAGGSNEW YORK--U.S. stocks erased early-morning losses in choppy trading,
shrugging off weak data and worries about Europe.The Dow Jones Industrial Average fell 9 points, or 0.1%, to 12567. The
Standard & Poor's 500-stock index was flat, at 1323, and the Nasdaq
Composite was up 4 points, or 0.2%, to 2847.U.S. retail sales slipped for the second consecutive month in May, the first
string of declines in nearly two years. While the measure fell by less than
expected in May, April retail sales were revised downward into negative
territory. Businesses held more inventory than expected in April because of
sluggish sales.J.P. Morgan Chase & Co. rose 2.3%, and was the fourth-largest gainer in
early trading. Chief Executive Jamie Dimon's testimony to the Senate gave the
impression the bank wouldn't see crippling fallout from its unexpected $2
billion trading loss."He's appeasing the stock market here, so now we're calm to the fact that
J.P. Morgan isn't going to get decimated" by its losses, said Ryan Detrick,
chief technical strategist with Schaeffer's Investment Research. "That's led us
back a bit."European markets erased early gains to turn mostly lower as worries about
Spain's debt and banking crisis festered and investors responded to weak
economic data. Euro-zone industrial output was at its weakest level since
September 2010 in April.The Stoxx Europe 600 was down 0.3%, after being up 0.4% at its intraday high.Asian markets were mostly higher following Tuesday's U.S. gains, with Japan's
Nikkei Stock Average rising 0.6% and China's Shanghai Composite climbing 1.3%.Crude-oil futures slipped 0.2% to $83.46 a barrel, while gold futures rose
0.6% to $1623 an ounce. The U.S. dollar lost ground against the euro and the
yen.In corporate news, shares of Dell rose 4.5% after the computer maker said it
plans to start paying a quarterly cash dividend of 8 cents a share.Johnson & Johnson gained 1.1%. The blue chip health-care company said it
received regulatory clearance to close its $19.7 billion bid for medical-device
maker Synthes. Analysts from J.P. Morgan Chase, Jefferies & Co. Inc., and
Raymond James Financial subsequently upgraded the stock.Facebook edged up 0.8%, putting it on track to post back-to-back gains for
just the second time since going public. The stock rose 1.5% Tuesday to close at
a one-and-a-half-week high.Scotts Miracle-Gro dropped 8% after announcing it expects to fall short of
estimates of full-year earnings and sales growth it had provided earlier as a
result of slowing consumer demand and lower-than-expected margin rates.Printing company 3D Systems fell 5.6% after the company said it is offering
shares of its common stock for sale to the public.
MARKET TALK: Sell Bunds/Buy Tsys Good Hedge on Greece -Scotia
The best way to ride out of the Greek elections is not to short stocks, but to
sell German bunds and buy Treasury bonds, says Charles Comiskey, head of
Treasury trading at Bank of Nova Scotia. He argues that bunds would be losers as
Germany might need to channel more money to safeguard the monetary union, and
the rising fiscal burden is what has fueled worry that bunds could lose their
safe-haven status. That concern was underlined after Pimco's Bill Gross
indicated on Tuesday he dislikes bunds. A comfort, though: The 10-yr bund
auction Wednesday didn't show investors fled in droves. The underperformance of
bunds vs Treasurys has narrowed the yield gap sharply. Recently, the benchmark
10-yr Treasury note trades about 15bps above that of 10-yr bund, down from 37bps
just a week ago and a recent peak of 50bps in April.
Tuesday, 12 June 2012
2012.06.12 07:50:18 Interbank Foreign Exchange Rates At 03:50 EST / 0750 GMT
Latest Previous %Chg Daily Daily %Chg Dollar Rates Close High Low 12/31 USD/JPY Japan 79.62-64 79.43-46 +0.24 79.69 79.18 +3.53 EUR/USD Euro 1.2494-96 1.2481-83 +0.10 1.2521 1.2452 -3.59 GBP/USD U.K. 1.5501-04 1.5484-89 +0.11 1.5522 1.5464 -0.25 USD/CHF Switzerland 0.9610-12 0.9620-24 -0.11 0.9644 0.9592 +2.54 USD/CAD Canada 1.0303-08 1.0313-18 -0.10 1.0324 1.0292 +0.94 AUD/USD Australia 0.9895-97 0.9862-66 +0.32 0.9917 0.9852 -3.06 NZD/USD New Zealand 0.7714-16 0.7688-93 +0.32 0.7732 0.7672 -0.79 Euro Rates EUR/JPY Japan 99.49-52 99.14-19 +0.35 99.78 98.74 -0.05 EUR/GBP U.K. 0.8059-61 0.8059-62 -0.01 0.8080 0.8053 -4.69 EUR/CHF Switzerland 1.2007-12 1.2008-12 0.00 1.2012 1.2008 -1.33 EUR/CAD Canada 1.2874-80 1.2871-79 +0.01 1.2891 1.2856 -2.68 EUR/AUD Australia 1.2624-28 1.2649-58 -0.22 1.2653 1.2610 -0.55 EUR/DKK Denmark 7.4321-34 7.4310-49 0.00 7.4361 7.4262 -0.04 EUR/NOK Norway 7.5383-418 7.5439-506 -0.10 7.5489 7.5262 -2.65 EUR/SEK Sweden 8.8500-42 8.8933-9003 -0.50 8.8982 8.8494 -0.72 EUR/CZK Czech Rep. 25.628-46 25.584-643 +0.09 25.646 25.538 +0.16 EUR/HUF Hungary 296.09-36 297.30-97 -0.47 297.68 295.84 -5.99 EUR/PLN Poland 4.3169-222 4.3470-543 -0.71 4.3558 4.3152 -3.31 Yen Rates AUD/JPY Australia 78.79-82 78.33-42 +0.55 79.03 78.10 +0.75 GBP/JPY U.K. 123.43-50 122.98-03 +0.36 123.69 122.59 +3.28 CAD/JPY Canada 77.24-30 76.98-07 +0.33 77.43 76.77 +2.57 NZD/JPY New Zealand 61.42-47 61.06-13 +0.58 61.61 60.82 +2.74 Other Dollar Rates USD/CZK Czech Rep. 20.509-24 20.497-543 -0.02 20.566 20.404 +3.87 USD/HUF Hungary 236.97-7.18 238.19-70 -0.57 238.85 236.28 -2.49 USD/DKK Denmark 5.9480-88 5.9537-59 -0.11 5.9692 5.9360 +3.68 USD/NOK Norway 6.0330-56 6.0440-86 -0.20 6.0511 6.0210 +0.97 USD/PLZ Poland 3.4549-90 3.4827-82 -0.82 3.4943 3.4484 +0.29 USD/RUB Russia 32.824-48 32.677-743 +0.39 32.899 32.624 +2.13 USD/SEK Sweden 7.0827-58 7.1252-98 -0.61 7.1333 7.0710 +2.97 USD/ZAR S. Africa 8.4080-102 8.4641-758 -0.72 8.4728 8.3784 +3.98 USD/CNY China 6.3699-720 6.3623-44 +0.12 6.3775 6.3706 +0.82 USD/HKD Hong Kong 7.7578-84 7.7601-09 -0.03 7.7603 7.7582 -0.11 USD/MYR Malaysia 3.1793-858 3.1663-728 +0.41 3.1847 3.1726 +0.16 USD/INR India 55.988-6.003 55.610-700 +0.61 56.070 55.673 +5.60 USD/IDR Indonesia 9443-93 9405-5 +0.67 9443 9430 +4.82 USD/PHP Philippines 42.871-3.112 42.919-3.020 +0.05 42.883 43.080 -1.96 USD/SGD Singapore 1.2837-44 1.2860-67 -0.18 1.2868 1.2822 -0.96 USD/KRW S. Korea 1168.39-70.80 1170.39-2.80 -0.17 1173.39 1168.30 +0.78 USD/TWD Taiwan 29.899-30.000 29.899-960 +0.07 29.949 29.950 -1.04 USD/THB Thailand 31.605-726 31.628-88 +0.02 31.699 31.626 +0.21 USD/VND Vietnam 20822-1473 20945-1015 +0.80 20822 21473 +0.52 USD/BRR Brazil 2.0621-86 2.0607-72 +0.07 2.0637 2.0578 +10.70 USD/MXN Mexico 14.0779-860 14.0891-979 -0.08 14.1151 14.0410 +0.97 USD/ARS Argentina 4.4831-904 4.4859-932 -0.06 4.4897 4.4878 +4.13 Source: ICAP Plc.
Monday, 11 June 2012
Interbank Foreign Exchange Rates
Latest Previous %Chg Daily Daily %Chg Dollar Rates Close High Low 12/31 USD/JPY Japan 79.49-52 79.43-46 +0.08 79.60 79.18 +3.37 EUR/USD Euro 1.2494-96 1.2481-83 +0.10 1.2507 1.2452 -3.59 GBP/USD U.K. 1.5487-92 1.5484-89 +0.02 1.5500 1.5464 -0.34 USD/CHF Switzerland 0.9612-14 0.9620-24 -0.09 0.9644 0.9604 +2.57 USD/CAD Canada 1.0297-302 1.0313-18 -0.16 1.0324 1.0296 +0.88 AUD/USD Australia 0.9898-902 0.9862-66 +0.36 0.9914 0.9852 -3.02 NZD/USD New Zealand 0.7720-26 0.7688-93 +0.43 0.7726 0.7672 -0.68 Euro Rates EUR/JPY Japan 99.30-34 99.14-19 +0.16 99.54 98.74 -0.24 EUR/GBP U.K. 0.8065-68 0.8059-62 +0.07 0.8069 0.8053 -4.61 EUR/CHF Switzerland 1.2008-12 1.2008-12 0.00 1.2012 1.2010 -1.33 EUR/CAD Canada 1.2867-74 1.2871-79 -0.04 1.2881 1.2856 -2.73 EUR/AUD Australia 1.2618-24 1.2649-58 -0.26 1.2653 1.2614 -0.59 EUR/DKK Denmark 7.4307-44 7.4310-49 -0.01 7.4361 7.4262 -0.04 EUR/NOK Norway 7.5274-310 7.5439-506 -0.24 7.5489 7.5262 -2.79 EUR/SEK Sweden 8.8577-648 8.8933-9003 -0.40 8.8982 8.8494 -0.62 EUR/CZK Czech Rep. 25.609-40 25.584-643 +0.04 25.646 25.592 +0.11 EUR/HUF Hungary 297.34-86 297.30-97 -0.01 297.68 297.14 -5.55 EUR/PLN Poland 4.3402-52 4.3470-543 -0.18 4.3558 4.3358 -2.79 Yen Rates AUD/JPY Australia 78.69-74 78.33-42 +0.43 78.90 78.10 +0.63 GBP/JPY U.K. 123.11-19 122.98-03 +0.10 123.36 122.59 +3.02 CAD/JPY Canada 77.16-23 76.98-07 +0.23 77.27 76.77 +2.47 NZD/JPY New Zealand 61.37-44 61.06-13 +0.51 61.49 60.82 +2.66 Other Dollar Rates USD/CZK Czech Rep. 20.495-520 20.497-543 -0.06 20.566 20.494 +3.83 USD/HUF Hungary 237.98-8.38 238.19-70 -0.11 238.85 238.10 -2.04 USD/DKK Denmark 5.9472-98 5.9537-59 -0.11 5.9692 5.9434 +3.68 USD/NOK Norway 6.0247-72 6.0440-86 -0.34 6.0511 6.0210 +0.83 USD/PLZ Poland 3.4738-76 3.4827-82 -0.28 3.4943 3.4718 +0.83 USD/RUB Russia 32.739-90 32.677-743 +0.17 32.896 32.624 +1.91 USD/SEK Sweden 7.0894-946 7.1252-98 -0.50 7.1333 7.0810 +3.08 USD/ZAR S. Africa 8.4208-330 8.4641-758 -0.51 8.4728 8.4200 +4.20 USD/CNY China 6.3715-36 6.3623-44 +0.14 6.3775 6.3732 +0.85 USD/HKD Hong Kong 7.7587-94 7.7601-09 -0.02 7.7603 7.7586 -0.10 USD/MYR Malaysia 3.1801-66 3.1663-728 +0.44 3.1847 3.1726 +0.19 USD/INR India 55.995-6.005 55.610-700 +0.62 56.050 55.673 +5.61 USD/IDR Indonesia 9421-81 9405-5 +0.49 9421 9430 +4.63 USD/PHP Philippines 42.851-3.092 42.919-3.020 +0.00 42.879 43.080 -2.00 USD/SGD Singapore 1.2835-38 1.2860-67 -0.21 1.2868 1.2822 -0.99 USD/KRW S. Korea 1169.19-71.60 1170.39-2.80 -0.10 1173.39 1168.30 +0.84 USD/TWD Taiwan 29.919-80 29.899-960 +0.07 29.949 29.950 -1.04 USD/THB Thailand 31.633-96 31.628-88 +0.02 31.699 31.626 +0.21 USD/VND Vietnam 20822-1473 20945-1015 +0.80 20822 21473 +0.52 USD/BRR Brazil 2.0567-98 2.0607-72 -0.28 2.0637 2.0588 +10.32 USD/MXN Mexico 14.0696-842 14.0891-979 -0.12 14.1151 14.0578 +0.94 USD/ARS Argentina 4.4817-90 4.4859-932 -0.09 4.4897 4.4886 +4.10 Source: ICAP Plc.
UPDATE: ECB Urges Adoption of Long-Term View in Accounting Practices
By Kathleen MadiganEconomists expect little joy to be found in this week's flurry of reports. The weak readings will give Federal Reserve policy makers much to consider when they meet next week, on June 19 and 20.
Wednesday's retail sales report is expect to show shoppers pulled back in May. The median forecast is that total sales dropped 0.3% in May. Excluding autos, store sales likely slipped 0.1%, in part because of falling prices at gasoline stations.
Forecasters also think the industrial sector downshifted in May, though that followed a large 1.1% jump in April. Industrial production, out Friday, is expected to show a small 0.1% gain last month, and capacity use is expected to remain at 79.2%.
Two early looks at June are also on tap this week. The Empire State survey from the Federal Reserve Bank of New York, scheduled for Friday, is expected to show weakness in June, after a strong showing in May. The business conditions index is projected to slow to 10.7 this month from 17.09 in May.
The preliminary June reading of consumer sentiment, also out Friday, is forecast to drop to 77.0 from the end-May reading of 79.3.
Economists also think falling oil prices brought down top-line inflation in May.
The producer price index, scheduled for Wednesday, is projected to have fallen 0.8% in May, while the core index, which excludes food and energy, is expected to have increased 0.2%.
The median forecast for the consumer price index, due Thursday, is for a 0.3% drop in May, with the core index up 0.2%.
DATE TIME RELEASE PERIOD CONSENSUS PREVIOUS
(ET)
Tuesday 0730 NFIB Small Business May 94.5 94.5
0830 Import Prices May -1.1% -0.5%
1400 Federal Budget May -$125.0B -$57.6B*
Wednesday 0830 Producer Prices May -0.8% -0.2%
-excl food & energy May +0.2% +0.2%
0830 Retail Sales May -0.3% +0.1%
-excl autos May -0.1% +0.1%
1000 Business Inventories Apr +0.3% +0.3%
Thursday 0830 Jobless Claims Jun 9 375K 377K
0830 Consumer Prices May -0.3% Unch
-excl food & energy May +0.2% +0.2%
0830 Current Acct Balance 1Q -$134.0B -$124.1B
Friday 0830 NY Fed Empire St Svy Jun 10.7 17.09
0915 Industrial Production May +0.1% +1.1%
0915 Capacity Utilization May 79.2% 79.2%
0955 Reuters/UMich Consumer
Sentiment (prelim) Jun 77.0 79.3**
*May 2011 reading
**end-May reading
Sunday, 10 June 2012
CHARTING FOREX: Dollar Biased Down Vs FX Majors Except Yen This Week
By Jerry TanSINGAPORE--Following is technical analysis of seven major currency pairs for this week:
USD/JPY
1st support - 79.11 (minor)
1st resistance - 80.14 (minor)
2nd support - 78.61 (minor)
2nd resistance - 80.61 (minor)
USD/JPY (last 79.63) is likely to trade in a higher range this week as the
daily MACD and stochastic indicators are bullish. Resistance is at the May 22
high of 80.14, currently near the 100-day moving average; a breach would expose
the upside to the 80.56-80.61 band, defined by the May 16 high and the May 2
high and currently near the 55-day moving average; and then to the April 27 high
of 81.43 and the 81.71-81.77 band, defined by the April 25 high and the April 20
high. Support is at Friday's low of 79.11; breach would expose the downside to
Wednesday's low of 78.61, currently near the 200-day moving average, and then to
the June 1 low of 77.65 and the Feb. 14 low of 77.36. An extension of the fall
would target the Feb. 6 low of 76.49, and then the Feb. 1 reaction low of 76.02.
USD/JPY negative medium-term outlook is tempered as the weekly stochastic
measure is turning bullish at the oversold level. However, the five-week moving
average is still below the 15-week moving average and falling. A drop below
77.65 would open the way down to 76.02, and then to the Oct. 31 record low of
75.31 in the weeks ahead.
EUR/USD
1st support - 1.2435 (minor)
1st resistance - 1.2825 (minor)
2nd support - 1.2375 (minor)
2nd resistance - 1.2935 (minor)
EUR/USD (last 1.2641) is likely to trade in a higher range this week as the
daily MACD and stochastic indicators are bullish. Resistance is at the May 21
high of 1.2825; a breach would expose the upside to the 55-day moving average,
coming in now at 1.2935, and then to 1.2994, the previous base set on April 16.
An extension of the rise would target the 100-day moving average, coming in now
at 1.3054, and then the 200-day moving average, coming in now at 1.3231. Support
is at Friday's low of 1.2435; a breach would target the June 4 low of 1.2375,
and then 1.2288, the 23-month low hit on June 1. An extension of the fall would
target the June 29, 2010 low of 1.2151. EUR/USD negative medium-term outlook is
tempered as the weekly stochastic measure has turned bullish at the oversold
level. However, the five-week moving average is still below the 15-week moving
average and falling. A drop below 1.2288 would open the way down to the
psychological 1.2000 line, and then to the June 7, 2010 low of 1.1875 in the
weeks ahead.
AUD/USD
1st support - 0.9817 (minor)
1st resistance - 1.0126 (minor)
2nd support - 0.9706 (minor)
2nd resistance - 1.0143 (minor)
AUD/USD (last 0.9983) is likely to trade with risks skewed to the upside this
week as long as the pair stays above Friday's low of 0.9817. The daily MACD and
stochastic indicators are bullish, but the latter is at the overbought level.
Resistance is at the 55-day moving average, coming in now at 1.0126, and then at
the May 10 high of 1.0143; a breach would target the May 7 high of 1.0219,
roughly matching the previous base set on April 11; and then the 200-day moving
average, coming in now at 1.0261. An extension of the rise would target the
100-day moving average, coming in now at 1.0358. But a fall below 0.9817 would
temper the near-term positive outlook, targeting Tuesday's low of 0.9706, and
then the June 4 low of 0.9623. An extension of the fall would target 0.9579, the
eight-month low hit on June 1. AUD/USD negative medium-term outlook is tempered
as the weekly stochastic measure has turned bullish at the oversold level.
However, the five-week moving average is still below the 15-week moving average
and falling. A drop below 0.9579 would open the way down to the Oct. 4 swing low
of 0.9386, and then to the Aug. 25, 2010 low of 0.8769 in the weeks ahead.
NZD/USD
1st support - 0.7614 (minor)
1st resistance - 0.7797 (minor)
2nd support - 0.7516 (minor)
2nd resistance - 0.7902 (minor)
NZD/USD (last 0.7767) is likely to trade with risks skewed to the upside this
week as long as the pair stays above Friday's low of 0.7614. The daily MACD and
stochastic indicators are bullish, but the latter is at the overbought level.
Resistance is at the May 15 high of 0.7797; a breach would expose the upside to
the May 10 minor reaction high of 0.7902, and then to the 55-day moving average,
coming in now at 0.7925. An extension of the rise would target the 200-day
moving average, coming in now at 0.7963, and then 0.8054, the previous base set
on March 22. But a fall below 0.7614 would temper the near-term positive
outlook, targeting Tuesday's low of 0.7516, and then the June 4 low of 0.7492.
An extension of the fall would target 0.7451, the six-month low hit on June 1.
NZD/USD negative medium-term outlook is tempered as the weekly stochastic
measure has turned bullish at the oversold level. However, the five-week moving
average is still below the 15-week moving average and falling. A drop below
0.7451 would open the way down to the Nov. 25 swing low of 0.7367, and then to
the March 17, 2011 swing low of 0.7113 and the psychological 0.7000 line in the
weeks ahead.
GBP/USD
1st support - 1.5401 (minor)
1st resistance - 1.5600 (minor)
2nd support - 1.5320 (minor)
2nd resistance - 1.5717 (minor)
GBP/USD (last 1.5555) is likely to trade in a higher range this week as the
daily MACD and stochastic indicators are bullish. Resistance is at Thursday's
high of 1.5600; a breach would expose the upside to the May 28 high of 1.5717,
and then to the 200-day moving average, coming in now at 1.5759. An extension of
the rise would target the May 22 minor reaction high of 1.5848, currently near
the 100-day moving average. Support is at Friday's low of 1.5401; a breach would
target Tuesday's low of 1.5320, and then 1.5265, the 4.5-month low hit on June
1. An extension of the fall would target the Jan. 12 swing low of 1.5233, and
then the psychological 1.5000 line and the July 12, 2010 low of 1.4946. GBP/USD
negative medium-term outlook is tempered as the weekly stochastic measure is
turning bullish at the oversold level. However, the five-week moving average is
still below the 15-week moving average and falling. A drop below the 1.5233
support would open the way down to the psychological 1.5000 line, and then to
the May 20, 2010 swing low of 1.4230 in the weeks ahead.
USD/CHF
1st support - 0.9363 (minor)
1st resistance - 0.9657 (minor)
2nd support - 0.9292 (minor)
2nd resistance - 0.9677 (minor)
USD/CHF (last 0.9506) is likely to trade in a lower range this week as the
daily MACD and stochastic indicators are bearish. Support is at the May 21
reaction low of 0.9363; a breach would expose the downside to the 55-day moving
average, coming in now at 0.9292, and then to the 100-day moving average, coming
in now at 0.9223. An extension of the fall would target the 200-day moving
average, coming in now at 0.9176. Resistance is at Friday's high of 0.9657; a
breach would target Tuesday's high of 0.9677, and then the 0.9771-0.9785 band,
defined by the 15-month high hit on June 1 and the Jan. 11, 2011 high. A rise
above 0.9785 would expose the upside to the psychological 1.0000 line, and then
to 1.0066, the Dec. 1, 2010 high. USD/CHF positive medium-term outlook is
tempered as the weekly stochastic measure has turned bearish at the overbought
level. However, the five-week moving average is still above the 15-week moving
average and rising. A rise above 0.9785 would open the way up to 1.0066, and
then to the July 27, 2010 high of 1.0640 in the weeks ahead.
USD/CAD
1st support - 1.0149 (minor)
1st resistance - 1.0354 (minor)
2nd support - 1.0098 (minor)
2nd resistance - 1.0425 (minor)
USD/CAD (last 1.0207) is likely to trade in a lower range this week as the
daily MACD and stochastic indicators are bearish. Support is at the May 22 low
of 1.0149; a breach would target the 200-day moving average, coming in now at
1.0098, and then the 55-day moving average, coming in now at 1.0054. An
extension of the fall would target the 100-day moving average, coming in now at
1.0011, and then the May 15 low of 0.9986. Resistance is at Friday's high of
1.0354; a breach would target Tuesday's high of 1.0425, and then 1.0446, the
six-month high hit on June 4. An extension of the rise would target the Nov. 25
high of 1.0523. USD/CAD positive medium-term outlook is tempered as the weekly
stochastic measure has turned bearish at the overbought level. However, the
five-week moving average is still above the 15-week moving average and rising. A
rise above the 1.0523 resistance would open the way up to the 1.0657-1.0677
band, defined by the Oct. 4 high, 2011 high and the July 6, 2010 high; and then
to the May 25, 2010 high of 1.0851 in the weeks ahead. Interbank Foreign Exchange Rates
Dollar Rates Close High Low 12/31 USD/JPY Japan 79.68-70 79.60-65 +0.08 79.70 79.40 +3.61 EUR/USD Euro 1.2639-42 1.2638-42 +0.00 1.2668 1.2620 -2.47 GBP/USD U.K. 1.5554-58 1.5509-15 +0.28 1.5557 1.5506 +0.09 USD/CHF Switzerland 0.9503-08 0.9501-11 -0.01 0.9518 0.9481 +1.42 USD/CAD Canada 1.0205-10 1.0219-29 -0.16 1.0229 1.0206 -0.02 AUD/USD Australia 0.9983-88 0.9984-89 -0.01 1.0007 0.9968 -2.18 NZD/USD New Zealand 0.7774-80 0.7766-74 +0.09 0.7785 0.7754 +0.01 Euro Rates EUR/JPY Japan 100.71-76 100.55-69 +0.12 100.90 100.34 +1.18 EUR/GBP U.K. 0.8125-28 0.8146-50 -0.27 0.8157 0.8124 -3.90 EUR/CHF Switzerland 1.2012-16 1.2010-20 -0.01 1.2018 1.2008 -1.30 EUR/CAD Canada 1.2900-08 1.2914-31 -0.14 1.2948 1.2898 -2.48 EUR/AUD Australia 1.2655-64 1.2653-69 -0.01 1.2681 1.2642 -0.28 EUR/DKK Denmark 7.4302-48 7.4295-353 +0.00 7.4367 7.4306 -0.04 EUR/NOK Norway 7.5774-852 7.5724-908 0.00 7.5898 7.5742 -2.12 EUR/SEK Sweden 8.8948-9028 8.8881-9019 +0.04 8.9104 8.8936 -0.20 EUR/CZK Czech Rep. 25.285-361 25.264-384 -0.01 25.358 25.317 -1.06 EUR/HUF Hungary 294.07-50 293.98-05 -0.04 294.18 293.94 -6.60 EUR/PLN Poland 4.2672-746 4.2755-885 -0.26 4.2775 4.2732 -4.40 Yen Rates AUD/JPY Australia 79.56-60 79.44-56 +0.10 79.69 79.16 +1.74 GBP/JPY U.K. 123.93-4.00 123.45-57 +0.37 123.93 123.34 +3.70 CAD/JPY Canada 78.04-10 77.82-94 +0.25 78.04 77.68 +3.63 NZD/JPY New Zealand 61.94-2.00 61.83-92 +0.16 61.97 61.58 +3.62 Other Dollar Rates USD/CZK Czech Rep. 20.003-60 19.984-20 +0.01 20.069 20.000 +1.42 USD/HUF Hungary 232.66-96 232.61-03 -0.05 233.06 232.38 -4.25 USD/DKK Denmark 5.8784-810 5.8785-812 0.00 5.8902 5.8678 +2.48 USD/NOK Norway 5.9947-98 5.9902-06 +0.02 6.0060 5.9850 +0.35 USD/PLZ Poland 3.3759-812 3.3830-925 -0.27 3.3850 3.3774 -1.99 USD/RUB Russia 32.093-380 31.846-03 -1.25 32.489 32.188 +0.27 USD/SEK Sweden 7.0369-420 7.0329-417 +0.03 7.0553 7.0286 +2.32 USD/ZAR S. Africa 8.3095-184 8.3100-488 -0.19 8.3252 8.3104 +2.80 USD/CNY China 6.3671-92 6.3739-60 -0.11 6.3741 6.3688 +0.78 USD/HKD Hong Kong 7.7574-80 7.7576-82 0.00 7.7584 7.7576 -0.12 USD/MYR Malaysia 3.0751-2018 3.0754-2020 -0.01 3.0811 3.1952 -1.23 USD/INR India 55.418-33 55.418-33 0.00 55.648 54.900 +4.53 USD/IDR Indonesia 9412-3 9157-525 +0.76 9412 9385 +4.20 USD/PHP Philippines 43.121-362 43.128-368 0.00 43.155 43.356 -1.37 USD/SGD Singapore 1.2747-54 1.2740-48 +0.05 1.2775 1.2730 -1.65 USD/KRW S. Korea 1166.59-7.10 1134.59-82.10 +0.73 1166.89 1165.90 +0.54 USD/TWD Taiwan 29.849-910 29.889-970 -0.17 29.949 29.900 -1.27 USD/THB Thailand 30.566-1.834 30.568-1.834 0.00 30.619 31.768 -1.26 USD/VND Vietnam 20930-1000 20557-1206 0.00 20970 21000 -0.74 USD/BRR Brazil 2.0227-58 2.0031-432 +0.05 2.0253 2.0250 +8.50 USD/MXN Mexico 13.8383-412 13.8279-820 -0.11 13.8789 13.8410 -0.76 USD/ARS Argentina 4.3555-4822 4.3559-4826 -0.01 4.3627 4.4730 +2.55
Thursday, 7 June 2012
China Yuan Official Central Parity Rates for Friday
The China Foreign Exchange Trade System published the following official central parity rates for major currencies against the yuan Friday:
Friday Thursday
USD/CNY 6.3188 6.3170
HKD/CNY 0.81446 0.81419
JPY/CNY* 7.9495 7.9757
EUR/CNY 7.9222 7.9427
GBP/CNY 9.8005 9.7784
AUD/CNY 6.2335 6.2554
CAD/CNY 6.1359 6.1411
CNY/MYR 0.50055 0.50015
CNY/RUB 5.1202 5.1012
*per 100 yen
The daily central parity rate for the yuan versus the U.S. dollar is the
weighted average of prices given by market makers. The highest and lowest offers
are excluded from the calculation. In each daily trading session, the central bank allows the dollar/yuan rate to move no more than 1% above or below the central parity rate, and the yuan/ringgit and yuan/ruble to move no more than 5%. It allows other currency pairs to move as much as 3% above or below the central parity rate.
Source: www.chinamoney.com.cn
Write to djnews.shanghai@dowjones.com
(END) Dow Jones Newswires
June 07, 2012 21:17 ET (01:17 GMT)
Daily Forex Brief London: Thursday 7th June 2012
Rattled by May's market madness, global policy-makers have finally started to show that they get the message, although their words will need to be followed by strong action before too long. Although the ECB was not decisive enough for our liking given the gravity of the situation in Europe (see below), at least Mario Draghi promised to act if the growth outlook worsened. Fed Vice-Chairman Janet Yellen conceded last night that the American economy was 'vulnerable to setbacks' and might require additional stimulus: Fed Chairman Bernanke will likely reinforce this point when he testifies to the Joint Economic Committee later today (see below). China in particular has implemented significant extra stimulus over recent weeks in response to their worsening growth performance; India has vowed to raise infrastructure spending to boost their ailing economy; and the RBA has lowered rates by 75bp over the past six weeks. Also, the BOE could decide to expand their asset purchases program when they meet this morning (see below). In response, the major American and European bourses were up more than 2% yesterday, Brent is back above USD 100 a barrel, and both the yen and the dollar have given back some of their recent gains. The euro suddenly looks a little perkier, notwithstanding ongoing concerns over both Greece and Spain.
Thursday, 31 May 2012
END) Dow Jones Newswires May 31, 2012 22:19 ET (02:19 GMT)
0219 GMT [Dow Jones] Korea government bonds are higher, helped by continued risk
aversion amid worries over the euro zone debt crisis, while data tips weaker
growth in China and the U.S. "Yields of local bonds, like those on U.S.
Treasurys, are already trading at very low levels, but there is no clear
momentum yet to revive risk appetite in the market," says Kim Se-hun, a
fixed-income analyst at Daishin Securities. "The bullish run for local bonds is
expected to continue in June. The three-year yield may fall near the BOK's
policy rate of 3.25%" in the near term, he adds. The three-year yield is down 2
bps at 3.30%, the five-year yield is down 3 bps at 3.40% and the one-year yield
is down 4 bps at 3.65%. Lead June bond futures are up nine ticks at 104.74.
Tuesday, 29 May 2012
Daily Forex Brief London: Tuesday 29th May 2012
At yesterday's hastily convened press conference Spanish Prime Minister Rajoy poured some cold water over weekend reports of a EUR 19bn bailout for Bankia, claiming that no decision had yet been taken. Rajoy further contributed to the climate of fear and uncertainty by asserting that Spanish banks did not need recuing (a claim which he surely will regret in due course), while arguing that Spain's debt sustainability problem needed to be resolved. He also argued that the EFSF and ERM ought to be able to recapitalise European banks directly, rather than needing to go through national governments. Unfortunately, Rajoy's latest missive only conflagrated existing paranoia regarding Spain's increasingly desperate financial predicament (see below). The Pandora's Box that is the dodgy loans on the balance sheets of Spanish banks is now spilling forth into full view, and it is every bit as bad as many of us suspected.
Monday, 28 May 2012
Daily Forex Brief London: Monday 28th May 2012
The weekend polls in Greece have shown the pro-bailout parties gaining ground, with two showing that they could receive enough of the votes to form a viable coalition. This has given the euro a modest lift in Asia trade, allowing a break above the 1.26 level, up from the 1.2496 year low carved out last week. Still, it's another three weeks until we will have the election results, so the road ahead remains fairly daunting for the single currency. We also have the Irish referendum on Thursday of this week on the European Fiscal Treaty. Meanwhile, as the Spanish government moves to inject fresh capital into Bankia, there are also moves to greatly enhance the deposit guarantee scheme protection offered to savers in European banks. These modestly encouraging developments, together with the fact that last week was the worst of the year for the single currency, increase the risk of some short-covering rallies this week, but there can be little arguing that underlying sentiment remains decidedly fragile.
Friday, 25 May 2012
Daily Forex Brief London: Friday 25th May 2012
Markets approach the end of what has been a pretty difficult week. The single currency has made news lows for the year (vs. the USD) and markets have no more faith in the ability of eurozone leaders to quell speculation around a Greek exit as anti-bailout parties retain their lead in the Greek election opinion polls. We've also seen the capitulation of the single currency, something which we talked about earlier this month, where the euro has been the weakest currency in a period of dollar strength, rather than the more traditional high-beta currencies, such as the Aussie. The price action on the single currency this week means that we run the risk of short-covering activity into the weekend. Also, the Swiss franc is worth keeping a small eye on after yesterday's volatility (at least compared to recent activity), which was mostly on the back of - so far - denied rumours of further measures to quell currency strength.
Thursday, 24 May 2012
Daily Forex Brief London: Thursday 24th May 2012
Probably not by accident, yesterday's Brussels dinner party of EU leaders ended too late for the European press to pass judgement. There was a weight of expectations, which was largely misplaced given this was an informal meeting to pave the way for the main summit of leaders at the end of next month. The same differences remain on common bonds and the financial transaction tax (UK opposing) and more subtle differences on the growth agenda. Of course, everyone would like more growth but delivering it alongside a program of continued austerity is naturally a different matter and, for now, it remains the impossible dream for European leaders and a balance which Europe (and indeed others) has yet to achieve. In the FX markets, after the push lower through the 1.26 level into the European close yesterday, EUR/USD has held steady overnight, but activity elsewhere shows that dollar-dominance remains the underlying theme.
Wednesday, 23 May 2012
Daily Forex Brief London: Wednesday 23rd May 2012
The dollar index made a new high for the year yesterday, 3.8% higher than the level seen at the start of the month. This follows on from two sessions of downward pressure on the dollar, which was more down to the extent of short positioning on some of currencies under pressure for most of the month. As we start the European session, EUR/USD itself is not that far off the lows for the year at 1.2624 as EU leaders meet for an informal summit in Brussels. Germany is looking increasingly isolated with its austerity - with no Plan B stance - and continues to rule out any sort of common debt for the eurozone. This summit is designed to shape the plans around the next formal summit at the end of June, so don't expect any major statements, but the surrounding comments will be key in shaping the debate ahead of that meeting. For now, currencies look set to reflect the theme of dollar dominance once again, with stock markets seen heading lower in Europe after the recent breather.
Friday, 11 May 2012
Daily Forex Brief London: Friday 11th May 2012
The week is ending in a similar fashion to which it began, namely with markets broadly in retreat from risk. There's little reason to feel that today will be much different. The focus is on Spain and its expected announcement of just how bad the government believes the bad loans situation is for the banking sector there. Meanwhile, Greece is still trying to stitch together a government from the results of the weekend's election. But the verdict in markets for the week as a whole has been a distinct lack of belief in the course that is being taken in Europe, with regards to France and its intended push for growth, together with Greece and its appetite for continued austerity as well as Spain's banking situation. Overnight, we've also seen slightly softer than expected retail sales and production data in China, although inflation was broadly as expected at 3.4%.
Thursday, 10 May 2012
Daily Forex Brief London: Thursday 10th May 2012
The euro's break below the 1.30 level has been sustained overnight and it's notable that the dollar has risen in all but two of the past nine sessions, looking at the dollar index chart. The political events in Europe, both in France and Greece, have served to enhance the more risk-averse trend that was already in place last week. Furthermore, in Europe we are seeing fresh signs of stress in the banking sector, such as widenings in cross-currency basis swaps and also Libor-OIS spreads. These both reflect greater concerns with regards to the fragility of the European banking sector, but at present there are few signs that the ECB is keen to get stuck in, already having undertaken two 3Y injections of liquidity. We've also seen disappointing trade data from China overnight (a bigger balance but also a slowdown in both exports and imports). Meanwhile, Asian equities are declining for a sixth consecutive session, the MSCI Asia (ex-Japan) index is now around 7% up on the year, having stood 16% higher at the end of February. Reality is biting hard and not only in Europe
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