Forex - Dollar gains on U.S. jobs report, profit taking trims gains

Investing.com - The dollar shot up on Friday after official data revealed the U.S. economy added more jobs than expected in October, though profit taking trimmed some of the greenback's earlier gains.

In U.S. trading on Friday, EUR/USD was down 0.48% at 1.3354.

The Bureau of Labor Statistics reported earlier that the U.S. economy added 204,000 jobs in October, far surpassing expectations for a 125,000 increase.

The August figure was revised to 238,000 from 193,000, while the September figure was revised
to 163,000 from 148,000.

The U.S. unemployment rate ticked up to 7.3% last month from 7.2% in September, in line with expectations.

The figures fueled market sentiments that the Federal Reserve could announce plans to scale back its USD85 billion in monthly asset purchases possibly as soon as December.

Asset purchases aim to spur recovery by driving down long-term interest rates, weakening the dollar in the process, and talk of their dismantling strengthens the U.S. currency.

The better-than-expected October jobs report came a day after official data showed that the U.S. economy grew 2.8% on year in the third quarter, well beyond expectations for 2.0% growth.

Capping the dollar's advance, however, was the Thomson Reuters/University of Michigan's preliminary consumer sentiment index for November, which ticked down to 72.0 from 73.2 in October, disappointing expectations for a rise to 74.5, which allowed for profit taking.

The euro, meanwhile, continued to come under pressure against the dollar after the European Central Bank on Thursday trimmed its benchmark interest rate to a record-low 0.25% from 0.5% in an unexpected decision.

Elsewhere, official data revealed that Germany's trade surplus widened to EUR18.8 billion in September, from EUR15.8 billion the previous month, which was revised up from EUR15.6 billion.

Analysts had expected the trade surplus to narrow to EUR15.5 billion in September.

The wider surplus, the product of soft imports, watered down the euro by stoking concerns Europe's largest economy is shipping in less inputs due to soft demand for its goods and services elsewhere in the continent.

Separately, Standard & Poor's cut France's credit rating to AA from AA+. The ratings agency said slower growth will constrain the government's ability to improve public finances.

The greenback was up against the pound, with GBP/USD down 0.62% at 1.5997.

The dollar was up against the yen, with USD/JPY up 1.02% at 99.09, and up against the Swiss franc, with USD/CHF up 0.74% at 0.9224.

The dollar was up against its cousins in Canada, Australia and New Zealand, with USD/CAD up 0.29% at 1.0489, AUD/USD down 0.80% at 0.9378 and NZD/USD trading down 0.99% at 0.8242.

In Canada, official data showed that the Canadian economy added 13,200 jobs in October, disappointing expectations for a 14,000 increase after a 11,900 rise the previous month.

Canada's unemployment rate remained unchanged at 6.9% last month, confounding expectations for an uptick to 7.0%.

The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was up 0.59% at 81.39.

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U.S. stocks gain on advancing jobs report; Dow up 0.98%

Investing.com - U.S. stocks applauded a better-than-expected October jobs report and rose on Friday amid hopes a more buoyant economy will improve business for American companies over the long run.

At the close of U.S. trading, the Dow Jones Industrial Average finished up 0.98%, the S&P 500 index rose 1.34%, while the Nasdaq Composite index rose 1.60%.

The Bureau of Labor Statistics reported earlier that the U.S. economy added 204,000 jobs in October, far surpassing expectations for a 125,000 increase.

The August figure was revised to 238,000 from 193,000, while the September figure was revised to 163,000 from 148,000.

The U.S. unemployment rate ticked up to 7.3% last month from 7.2% in September, in line with expectations.

The robust data depicted an improving economy, which drew applause on Wall Street, and also rekindled expectations that the Federal Reserve could announce plans to scale back its USD85 billion-a-month stimulus program soon.

Stimulus programs aim to drive recovery by depressing borrowing costs, boosting stocks in the process, and talk of their dismantling can deflate share prices namely by fueling uncertainty over how equities will perform without a monetary crutch.

Stocks rose, however, as investors digested the data and determined the Fed will continue stimulating the economy likely into 2014, as the labor force participation rate remains soft while fewer high-quality jobs are being created when compared to retail, leisure and hospitality jobs.

Stocks also rose on sentiment that the Federal Reserve may opt to wait to announce plans to begin tapering asset purchases at its March meeting, when Janet Yellen takes control of the U.S. central bank.

Elsewhere, the Thomson Reuters/University of Michigan's preliminary consumer sentiment index for November ticked down to 72.0 from 73.2 in October, disappointing expectations for a rise to 74.5.

Leading Dow Jones Industrial Average performers included JPMorgan Chase, up 4.46%, Goldman Sachs, up 2.22%, and Merck, up 2.17%.

The Dow Jones Industrial Average's worst performers included Home Depot, down 0.31%, McDonald's, down 0.20%, and IBM, which was up 0.04%.

European indices, meanwhile, finished largely lower.

After the close of European trade, the EURO STOXX 50 fell 0.33%, France's CAC 40 fell 0.48%, while Germany's DAX 30 fell 0.03%. Meanwhile, in the U.K. the FTSE 100 finished up 0.17%.

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Forex - Dollar gains on advancing GDP data, ECB rate cut

Investing.com - The dollar moved largely higher against most major currencies on Thursday after the U.S. government reported the country's gross domestic product grew more than expected in the third quarter, though profit taking clipped the greenback's earlier gains.

A surprise European Central Bank decision to cut interest rates further bolstered the dollar's appeal.

In U.S. trading on Thursday, EUR/USD was down 0.68% at 1.3422.

The ECB trimmed its benchmark interest rate to a record-low 0.25% from 0.5% in an unexpected decision.

The bank also cut its marginal lending rate to 0.75% from 1% and left its deposit facility rate unchanged at zero.

ECB President Mario Draghi said euro zone borrowing costs will remain at present or even lower levels until the economy improves, adding that the euro zone may experience "a prolonged period of low inflation."

Meanwhile in the U.S. official data showed that the U.S. economy grew at an annual rate of 2.8% in the three months to September, far surpassing expectations for a 2.0% reading. The U.S. economy grew by 2.5% in the preceding quarter.

The robust data rekindled expectations that the Federal Reserve could announce plans to scale back its USD85 billion-a-month stimulus program as its next monthly meeting in December.

Stimulus programs aim to drive recovery by depressing borrowing costs, weakening the dollar in the process, and talk of their dismantling strengthens the currency.

Separately, the Department of Labor said the number of individuals filing for initial jobless benefits in the U.S. last week fell by 9,000 to a seasonally adjusted 336,000, largely in line with analysts' forecasts for a claims to fall by 10,000.

The greenback was flat against the pound, with GBP/USD down 0.01% at 1.6079.

Across the Atlantic, the Bank of England's monetary policy committee voted to leave rates on hold at 0.5% and made no changes to its GBP375 billion quantitative easing stimulus package.

The announcement came after economic data earlier this week added to indications that the recovery in the U.K. is deepening

The dollar was down against the yen, with USD/JPY down 0.77% at 97.91, and up against the Swiss franc, with USD/CHF up 0.40% at 0.9158.

The dollar was up against its cousins in Canada, Australia and New Zealand, with USD/CAD up 0.31% at 1.0451, AUD/USD down 0.81% at 0.9449 and NZD/USD trading down 0.72% at 0.8318.

The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was up 0.39% at 80.89.

On Friday, the University of Michigan is to release the preliminary reading of its consumer sentiment index. The U.S. is to round up the week with the closely watched government data on nonfarm payrolls and the unemployment rate.

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Forex - GBP/USD erases losses stemming from advancing U.S. growth data

Investing.com - The pound took back earlier losses against the dollar on Thursday after news that the U.S. economy gained much more steam than expected in the third quarter sparked a rally for the greenback.

In U.S. trading on Thursday, GBP/USD was trading at 1.6095, up 0.09%, up from a session low of 1.6010 and off from a high of 1.6115.

Cable was likely to find support at 1.5903, Monday's low, and resistance at 1.6118, Wednesday's high.

The pound weakened and the dollar rose earlier after the U.S. Bureau of Economic Analysis revealed that the U.S. economy grew at an annual rate of 2.8% in the three months to September, far surpassing expectations for a 2.0% reading.

The U.S. economy grew by 2.5% in the preceding quarter.

The robust data rekindled expectations that the Federal Reserve could announce plans to scale back its USD85 billion-a-month stimulus program as its next monthly meeting in December.

Stimulus programs aim to drive recovery by depressing borrowing costs, weakening the dollar in the process, and talk of their dismantling strengthens the currency.

Separately, the Department of Labor said the number of individuals filing for initial jobless benefits in the U.S. last week fell by 9,000 to a seasonally adjusted 336,000, largely in line with analysts' forecasts for a claims to fall by 10,000.

Across the Atlantic, the Bank of England's monetary policy committee voted to leave rates on hold at 0.5% and made no changes to its GBP375 billion quantitative easing stimulus package.

The announcement came after economic data earlier this week added to indications that the recovery in the U.K. is deepening.

The pound fell against the dollar though profit taking erased the greenback's gains against its U.K. counterpart and sent the pair into positive territory in afternoon trading.

The pound, meanwhile, was up against the euro and down against the yen, with EUR/GBP down 0.70% at 0.8348 and GBP/JPY down 0.71% at 157.52.

On Friday, the U.K. is to release data on the trade balance.

The University of Michigan is to release the preliminary reading of its consumer sentiment index. The U.S. is to round up the week with the closely watched government data on nonfarm payrolls and the unemployment rate.

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U.S. stocks rise on Fed sentiments; Dow hits record high, up 0.82%

Investing.com - U.S. stocks rose on Wednesday on sentiments that the October jobs report due out on Friday won't come in strong enough to prompt the Federal Reserve to consider winding down stimulus measures.

At the close of U.S. trading, the Dow Jones Industrial Average finished up 0.82% at a record-high 15,746.88, the S&P 500 index rose 0.43%, while the Nasdaq Composite index fell 0.20%.

Stocks rose despite an relative lack of market-moving news on Wednesday, mainly due to expectations that Friday's October jobs report will reveal modest improvements taking place in the labor market though not enough to convince the Fed to begin tapering stimulus programs.

Extraordinary accommodative policy tools such as the Fed's USD85 billion in monthly bond purchases drive down borrowing costs to spur recovery, boosting stock prices in the process.

The Federal Reserve has said it will pay close attention to economic indicators before deciding when to taper the pace of its monthly asset purchases, and in recent weeks, economic indicators have painted a picture of a U.S. economy moving along the road to recovery though still in need of a monetary crutch from the Fed.

Analysts are predicting the Labor Department to reveal the U.S. economy added a modest 125,000 nonfarm payrolls in October.

Leading Dow Jones Industrial Average performers included Microsoft, up 4.13%, UnitedHealth, up 2.28%, and Chevron, up 2.24%.

The Dow Jones Industrial Average's worst performers included Pfizer, down 0.91%, Nike, down 0.56%, and Boeing, down 0.35%.

European indices, meanwhile, finished largely higher.

After the close of European trade, the EURO STOXX 50 rose 0.61%, France's CAC 40 rose 0.79%, while Germany's DAX 30 rose 0.35%. Meanwhile, in the U.K. the FTSE 100 finished down 0.08%.

On Thursday, the U.S. is to publish a preliminary estimate of third-quarter gross domestic product. Meanwhile, the Labor Department is to release its weekly report on initial jobless claims.

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Mutual Funds decline as markets slip

Equity Mutual Funds ended with negative returns as the 30-share BSE benchmark lost another 80 points amid volatility on Monday as profit booking continued for the second consecutive session after hitting a record high last week. Performance wise, Index funds, Large Cap, Thematic - Infrastructure funds, ELSS and Diversified fund were the worse one to perform, while Small & Mid cap funds ended mixed.

Among the sector space except Pharma & Healthcare funds, all the other categories ended low amid volatile market.

The Sensex was down 79.85 points to close at 20894.94, and the Nifty fell 38 points to 6215.15, but BSE Smallcap outperformed benchmarks with 0.8 percent upmove.

On fixed income funds, barring Ultra Short Term Debt fund all other categories slumped. The Government bonds maintained its downtrend on consistent selling pressure from banks and corporates, while call rates ended higher at the overnight call money market owing to sustained demand from borrowing banks.

Check out all mutual fund gainers & losers

Here is the day's performance and the gainers and losers across categories.

Equity diversified: Top gainers

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N.Z. unemployment rate falls more-than-expected

Investing.com - The rate of unemployment in New Zealand fell more-than-expected in the last quarter, official data showed on Tuesday.

In a report, Statistics New Zealand said that N.Z. unemployment rate fell to a seasonally adjusted 6.2%, from 6.4% in the preceding quarter.

Analysts had expected N.Z. unemployment rate to fall to 6.3% in the last quarter.

Following the release of the data, the New Zealand dollar added to gains against the U.S. Dollar, with NZD/USD soaring 0.97% to trade at 0.8360.

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N.Z. employment change rises more-than-expected

Investing.com - New Zealand's employment change rose more-than-expected in the last quarter, official data showed on Tuesday.

In a report, Statistics New Zealand said that N.Z. employment change rose to a seasonally adjusted 1.2%, from 0.4% in the preceding quarter.

Analysts had expected N.Z. employment change to rise 0.6% in the last quarter.

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Grain futures mixed; Corn trades at 3-year low on crop prospects

Investing.com - U.S. grain futures were mixed on Monday, with corn prices trading at the lowest level since August 2010 amid expectations this year's corn harvest in the U.S. will be the largest on record.

On the Chicago Mercantile Exchange, corn futures for December delivery traded at USD4.2663 a bushel, little changed on the day.

Corn prices traded in a tight range between USD4.2620 a bushel, the daily low and a session high of USD4.2700 a bushel.

The December corn contract fell to USD4.2560 a bushel on Friday, the weakest level since August 26, 2010, before settling at USD4.2720 a bushel, down 0.23%.

Futures have been on a downward trend in recent weeks as favorable weather conditions in key corn-growing states in the U.S. allowed farmers to accelerate the pace of the harvest.

According to the U.S. Department of Agriculture, nearly 59% of the corn harvest was completed as of last week. The agency also said that approximately 62% of the corn crop was rated in 'good' to 'excellent' condition.

Elsewhere on the CBOT, soybeans futures for January delivery traded at USD12.5650 a bushel, up 0.35%.

Prices of the oilseed traded in a range between USD12.5020 a bushel, the daily low and the weakest level since August 14 and a session high of USD12.5888 a bushel.

The January soy contract ended down 1.16% at USD12.5140 a bushel on Friday.

Meanwhile, wheat for December delivery traded at USD6.6988 a bushel, 0.35% higher.

Wheat prices held in a range between USD6.6600 a bushel, the daily low and a session high of USD6.7138 a bushel.

The December contract dropped to USD6.6440 a bushel on Friday, the lowest since September 25, before settling up 0.04% to end at USD6.6760 a bushel.

Wheat prices are down nearly 6% since hitting a four-and-a-half-month high of USD7.1120 a bushel on October 21 as market players monitored crop prospects in the U.S., South America and countries in the Black Sea-region.

Corn is the biggest U.S. crop, followed by soybeans, government figures show. Wheat was fourth, behind hay.

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Rain expected in Delhi Wednesday onwards

The national capital New Delhi could witness rain from Wednesday, 6th of November onwards as a Western Disturbance is expected to reach the skies of Jammu & Kashmir. Weather in northwest India over Punjab, Haryana, some parts of Rajasthan and west Uttar Pradesh will also witness a change as skies in the region will be partly cloudy to cloudy with chances of rain.

Temperatures in Delhi during morning hours will remain below normal for next 24 hours. These temperatures will rise with the arrival of this Western Disturbance. However day temperatures in the region will fall.

Night temperatures in east and central India will fall due to northerly winds. Foothills of Himalayas in east Uttar Pradesh, Bihar, sub-Himalayan West Bengal and Sikkim will continue to experience fog for the next three days. Change in wind conditions will help in reducing the fog after this period.

An easterly wave from the Bay of Bengal will continue to affect south India over Tamil Nadu, Karnataka and Kerala during next two days. Good rains are expected to occur in these parts.

By: Skymetweather.com

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Syria opposition says no to peace talks without clear timeframe for Assad exit

CAIRO (Reuters) - Syrian National Coalition President Ahmad Jarba said on Sunday the opposition would not attend proposed peace talks in Geneva unless there was a clear timeframe for President Bashar al-Assad to leave power.

"We have decided not to enter Geneva talks unless it is with dignity, and unless there is a successful transfer of power with a specific timeframe, and without the occupier Iran at the negotiating table," Jarba told an Arab League emergency meeting in Cairo.

Jarba's latest comments throw the proposed talks into further confusion. The United Nations envoy to Syria has said there would be no pre-conditions for the long-delayed peace talks.

The talks are meant to bring Syria's warring sides to the negotiating table, but have been repeatedly delayed because of disputes between world powers, divisions among the opposition and the irreconcilable positions of Assad and the rebels.

Arab and Western officials said this week that international powers were unlikely to meet their goal of holding the conference in November.

(Reporting by Yasmine Saleh, Hadeel al-Shalchi and Ali Abdelaty; Writing by Yara Bayoumy; editing by Ralph Boulton)

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Forex - USD/JPY up in Asian trade

Investing.com - The U.S. Dollar was higher against the Japanese Yen on Sunday.

USD/JPY was trading at 98.73, up 0.03% at time of writing.

The pair was likely to find support at 97.47, Tuesday's low, and resistance at 98.85, Friday's high.

Meanwhile, the U.S. Dollar was down against the Euro and up against the British Pound, with EUR/USD gaining 0.01% to hit 1.3494 and GBP/USD falling 0.03% to hit 1.5922.

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Promoter Ajay Bijli sells 2 lakh shares of PVR

Nov 02, 2013, 04.32 PM IST

Tree Line Asia Master Fund (Singapore) bought 2.04 lakh shares in PVR at Rs 585.25 apiece on the BSE and 2.56 lakh shares at Rs 587.25 apiece on the NSE.

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Promoter Ajay Bijli sells 2 lakh shares of PVR

Tree Line Asia Master Fund (Singapore) bought 2.04 lakh shares in PVR at Rs 585.25 apiece on the BSE and 2.56 lakh shares at Rs 587.25 apiece on the NSE.

Like this story, share it with millions of investors on M3

Promoter Ajay Bijli sells 2 lakh shares of PVR

Tree Line Asia Master Fund (Singapore) bought 2.04 lakh shares in PVR at Rs 585.25 apiece on the BSE and 2.56 lakh shares at Rs 587.25 apiece on the NSE.

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Moneycontrol Bureau

Promoter Ajay Bijli, which holds 5.7 percent stake , sold 2 lakh equity shares (0.5 percent stake) in multiplex chain operator PVR on Friday.

He sold shares at a price of Rs 585 while HNI372 too offloaded same quantity of shares at same price.

Meanwhile, Tree Line Asia Master Fund (Singapore) bought 2.04 lakh shares in PVR at Rs 585.25 apiece on the BSE and 2.56 lakh shares at Rs 587.25 apiece on the NSE.

PVR's stock closed at Rs 597.10, up 3.73 percent on Friday after hitting record high of Rs 605.50.

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Temperature sneak peak on Diwali eve

After a good spell of rain and snow over Jammu and Kashmir, Himachal Pradesh and Uttarakhand, winter will become severe over the hills. Winds from north or north west direction will increase the chill factor. These cold winds will affect northern and adjoining central India in terms of dropping temperatures for day as well as night.

Clear skies will help decrease the humidity level over indo Gangetic plains. Shallow fog may appear in some pockets of Punjab, Haryana and Delhi during late night and early morning hours. Delhi will witness a cool morning on Diwali eve with a temperature of around 15 0C. Northern parts of east Uttar Pradesh and Bihar will encounter fog for next couple of days, which will affect rail and road traffic in these areas. Day temperatures of north and east India will remain near normal. Night temperatures will be slightly below normal in the north and north west plains.

Andhra Pradesh, Tamil Nadu and south interior Karnataka will have above normal day maximums. Rest of the southern peninsula will have near normal temperatures. Scattered rain is expected over coastal Andhra Pradesh, Tamil Nadu and Kerala. Karnataka will also receive rain at few places. Rest of the country will remain dry and sunny.

Temperatures in major cities on the eve of Diwali

Cities

  Maximum Temp Minimum Temp Chandigarh 28 14 Delhi 29 15 Jaipur 31 16 Kolkata 31 21 Lucknow 31 15 Patna 30 20

By: Skymetweather.com

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