CFTC Commitments of Traders - week ending March 11

Investing.com -

Investing.com - The Commodity Futures Trading Commission released its weekly Commitments of Traders report for the week ending March 11 on Friday.

Speculative positioning in the CME currency futures:

				Long		Short
	Net	Prior	Change	Gross	Change	Gross	Change
EUR	36.4k	23.5k	12.9k	110.1k	6.2k	73.7k	-6.7k
GBP	22.0k	29.6k	-7.6k	64.6k	-6.5k	42.6k	1.1k
JPY	-99.4k	-79.7k	-19.6k	15.7k	-4.7k	115.1k	15.0k
CHF	9.0k	2.2k	6.8k	23.1k	1.3k	14.1k	-5.5k
CAD	-52.2k	-61.1k	8.9k	25.2k	1.9k	77.4k	-7.0k
AUD	-40.9k	-41.1k	0.3k	8.6k	-3.6k	49.5k	-3.9k
NZD	14.4k	13.4k	1.0k	21.2k	1.8k	6.7k	0.8k
MXN	-8.2k	-20.8k	12.5k	12.7k	4.5k	21.0k	-8.0k

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Dollar dips on soft U.S. consumer sentiment data

Investing.com - Investing.com - The dollar traded largely lower against most major currencies on Friday after a widely-watched gauge of consumer sentiment coupled with wholesale pricing data missed expectations.

In U.S. trading on Friday, EUR/USD was up 0.26% at 1.3904.

The Thomson Reuters/University of Michigan preliminary consumer sentiment index fell to 79.9 for March, from 81.6 in February, defying market expectations for a rise to 82.0.

Also on Friday, data revealed that the U.S. producer price index fell 0.1% in February, confounding expectations for a 0.2% rise, after a 0.2% increase the previous month.

Core producer price inflation, which excludes food, energy and trade, slipped 0.2% last month, compared to expectations for a 0.1% rise, after a 0.2% gain in January.

Friday's data reminded investors that the Federal Reserve will take its time dismantling its monthly bond-buying program, which weakens the dollar as long as it remains in effect.

Meanwhile, investors remained cautious after Russia launched new military exercises near its border with Ukraine on Thursday, showing no sign of backing down on plans to annex Crimea.

U.S. Secretary of State John Kerry said the U.S. and Europe should take steps if a referendum on Crimea joining Russia takes place on Sunday as planned.

Kerry was set to meet with his Russian counterpart Sergei Lavrov on Friday in a last attempt to defuse tension between Moscow and the West.

Markets remained on edge after data on Thursday showed that Chinese industrial production rose 8.6% in the first two months of 2014, missing market expectations for an increase of 9.5%, while Chinese retail sales rose by a smaller-than-forecast 11.8% in the same period.

Meanwhile in Europe, Germany's monthly inflation rate came in at 0.5% in February and 1.2% on year, both figures in line with market expectations.

Also in Europe, the European Union's statistical arm Eurostat reported earlier that the number of employed individuals rose 0.1% in the fourth quarter of last year, beating market expectations for an unchanged reading.

The dollar was down against the yen, with USD/JPY down 0.49% at 101.31, and down against the Swiss franc, with USD/CHF down 0.21% at 0.8726.

The greenback was down against the pound, with GBP/USD up 0.04% at 1.6631.

The dollar was up against its cousins in Canada, Australia and New Zealand, with USD/CAD up 0.21% at 1.1097, AUD/USD down 0.06% at 0.9020 and NZD/USD down 0.11% at 0.8533.

The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was down 0.21% at 79.55.

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U.S. stocks drop on Ukraine fears, weak Chinese data; Dow drops 1.41%

Investing.com - Investing.com - Tensions in Ukraine continued to escalate on Thursday and sent stocks falling in a selloff intensified by weak Chinese industrial production data.

At the close of U.S. trading, the Dow Jones Industrial Average fell 1.41%, the S&P 500 index fell 1.17%, while the Nasdaq Composite index fell 1.46%.

Russian troops reportedly amassing on the Crimean-Ukraine border spooked investors on Thursday and battered stock prices.

News reports that Russia is conducting new military exercises in the Crimea region of Ukraine sparked demand for safe-haven asset classes, the dollar and yen especially, bruised equities markets worldwide.

Tensions between Russia and the West have remained high ahead of Sunday's referendum in Ukraine's Crimea region, controlled by pro-Russian forces, on whether citizens there want to join Russia.

Leaders of the Group of Seven largest industrial nations warned Russia on Wednesday not to annex Crimea.

In a recent joint statement, the leaders said Russian annexation of Crimea "could have grave implications for the legal order that protects the unity and sovereignty of all states."

Should Russia take the step, the G-7 said it would respond with further action "individually and collectively."

Soft Chinese data fueled the selloff as well.

Chinese industrial production rose 8.6% in the first two months of 2014, according to data released on Thursday, missing market expectations for a 9.5% increase, while Chinese retail sales rose by 11.8%, beneath market forecasts for a 13.5% gain.

Elsewhere in the U.S., the Commerce Department reported that U.S. retail sales rose 0.3% in February, ending two months of declines and better than market expectations for a 0.2% increase.

Core retail sales, which exclude automobile sales, also rose 0.3% last month, ahead of expectations for a 0.2% rise.

Separately, the Department of Labor said the number of individuals filing new claims for unemployment benefits in the U.S. fell by 9,000 to a three-month low of 315,000 last week.

Analysts had expected initial jobless claims to rise by 6,000 last week.

In corporate news, Krispy Kreme Doughnuts hiked its yearly outlook, which drew applause, while kitchenware retailer Williams-Sonoma forecast 2014 sales that beat expectations.

Online retailer Amazon.com raised the cost of its Prime membership, while financial services giant Goldman Sachs Group fell after S&P Capital IQ downgraded its shares to sell from buy.

Leading Dow Jones Industrial Average performers included Procter & Gamble, down 0.06%, AT&T, down 0.11%, and Nike, down 0.54%.

The Dow Jones Industrial Average's worst performers included Pfizer, down 2.70%, United Technologies, down 2.52%, and Visa, down 2.40%.

European indices, meanwhile, finished lower.

After the close of European trade, the EURO STOXX 50 fell 1.35%, France's CAC 40 fell 1.29%, while Germany's DAX 30 fell 1.86%. Meanwhile, in the U.K. the FTSE 100 fell 1.01%.

On Friday, the U.S. is to round up the week with data on producer price inflation and preliminary data from the University of Michigan on consumer sentiment.

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Dollar erases earlier losses on Ukraine woes, retail sales data

Investing.com - Investing.com - The dollar traded mixed against most major currencies on Thursday, erasing earlier losses after better-than-expected U.S. retail sales and jobless claims reports fueled demand for the currency.

Reports the Russian standoff in Ukraine is escalating sparked added safe-haven demand for the greenback.

In U.S. trading on Thursday, EUR/USD was down 0.40% at 1.3848.

News reports that Russia is conducting new military exercises in the Crimea region of Ukraine spooked investors and sparked demand for safe-haven asset classes, the dollar and yen especially.

Tensions between Russia and the West have remained high ahead of Sunday's referendum in Ukraine's Crimea region, controlled by pro-Russian forces, on whether citizens there want to join Russia.

Those concerns elevated the dollar and erased earlier losses stemming from upbeat takes on the euro area economy from various policymakers.

On Wednesday, ECB executive board member Benoit Coeure said the monetary authority saw no indications of deflation in the euro area, while ECB Chief Economist Peter Praet noted that the euro area's economy has improved over the past two years.

Also on Wednesday, German Finance Minister Wolfgang Schauble said interest rates in the euro zone are too low from a German point of view. He also said he doesn't expect deflation to materialize in the euro zone.

The euro rose at the dollar's expense as markets bet the European Central Bank will hold off on implementing stimulus measures even though recent inflation rates have come in softer than market expectations.

The ECB left interest rates at a record low 0.25% at its policy meeting last week and implemented no new policy measures to shore up growth despite forecasting low inflation for years to come.

Still, Ukraine fears took center stage and sent the dollar back on top as did solid U.S. indicators.

The Commerce Department reported that U.S. retail sales rose 0.3% in February, ending two months of declines and better than market expectations for a 0.2% increase.

Core retail sales, which exclude automobile sales, also rose 0.3% last month, ahead of expectations for a 0.2% rise.

Separately, the Department of Labor said the number of individuals filing new claims for unemployment benefits in the U.S. fell by 9,000 to a three-month low of 315,000 last week.

Analysts had expected initial jobless claims to rise by 6,000 last week.

Soft production data out of China fueled demand for both the dollar and the yen.

Chinese industrial production rose 8.6% in the first two months of 2014, according to data released on Thursday, missing market expectations for a 9.5% increase, while Chinese retail sales rose by 11.8%, beneath market forecasts for a 13.5% gain.

The dollar was down against the yen, with USD/JPY down 1.05% at 101.69, and up against the Swiss franc, with USD/CHF up 0.16% at 0.8754.

The greenback was down slightly against the pound, with GBP/USD up 0.02% at 1.6624.

The dollar was down against its cousins in Canada, Australia and New Zealand, with USD/CAD down 0.57% at 1.1057, AUD/USD up 0.36% at 0.9020 and NZD/USD up 0.07% at 0.8530.

All three currencies firmed after Australia's statistics bureau reported that the economy added 47,300 jobs in February, well above forecasts for jobs growth of 18,000. The nation's unemployment rate remained unchanged at 6.0%.

The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was up 0.08% at 79.76.

On Friday, the U.S. is to round up the week with data on producer price inflation and preliminary data from the University of Michigan on consumer sentiment.

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Gold extends gains as Ukraine standoff heats up anew

Investing.com - Investing.com - Gold prices shot up on Wednesday as the Russian standoff in Ukraine escalated and bolstered gold's appeal as a safe-haven during times of crisis.

On the Comex division of the New York Mercantile Exchange, gold futures for April delivery traded at $1,368.00 a troy ounce during U.S. trading, up 1.58%, up from a session low of $1,345.70 and off a high of $1,371.20.

The April contract settled up 0.39% at $1,346.70 on Tuesday.

Futures were likely to find support at $1,328.20 a troy ounce, Monday's low, and resistance at $1,375.10, the high from Sept. 19.

Ongoing geopolitical tensions in Ukraine bolstered gold's appeal as a hedge on Wednesday.

Leaders of the Group of Seven largest industrial nations warned Russia on Wednesday not to annex Crimea.

In a joint statement, the leaders said Russian annexation of Crimea "could have grave implications for the legal order that protects the unity and sovereignty of all states."

Should Russia take the step, the G-7 said it would respond with further action "individually and collectively."

Ukraine's interim Prime Minister Arseniy Yatsenyuk will meet with U.S. President Barack Obama later in the day, as diplomatic efforts to resolve the crisis continued.

Still, uncertainty as to how policymakers on all sides will navigate their way out of the crisis fueled safe-haven demand for the yellow metal

Meanwhile, silver for May delivery was up 2.31% at US$21.295 a troy ounce, while copper futures for May delivery were up 0.33% at US$2.962 a pound.

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Forex - NZ dollar up after rate hike, RBNZ says gains not sustainable

Investing.com - Investing.com - The Reserve Bank of New Zealand Thursday raised the official cash rate by 25 basis points to 2.75% in a widely expected decision that still gave the currency a jolt upwards.

NZD/USD traded at 0.8439, up 0.58%, after the rate hike announcement and remained well bid as economic forecast by the central bank pointed to higher 90-day bill rates, though there was a warning the track of the currency was not sustainable.

"By increasing the OCR as needed to keep future average inflation near the 2% target mid-point, the Bank is seeking to ensure that the economic expansion can be sustained," Governor Graeme Wheeler said in a statement.

The RBNZ has also increased by 20 basis points its projected track for the 90-day bank bill, starting from the next quarter. The current forecast is for 3.3% in the June quarter, rising to 4.8% by December 2015. The last forecasts were for 3.1% in the June quarter, rising to 4.6%.

It also raised its GDP growth estimate for the current year to September compared to the last monetary policy statement, three months ago, to 3.4% from 2.9%.

As a result, the RBNZ also revised its exchange rate track upwards with the trade-weighted index is now forecast to stay above 75.5 through to the end of 2016, instead of previous expectations it would fall back towards the 70 mark.

But Wheeler said the high exchange rate "is not sustainable in the long run."

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Gold gains on Ukraine standoff, soft Chinese data weigh

Investing.com - Investing.com - Gold prices edged higher on Monday as the ongoing Russian standoff in Ukraine bolstered the yellow metal's appeal as a hedge, though Friday's strong U.S. jobs report and soft Chinese trade figures watered down gains.

On the Comex division of the New York Mercantile Exchange, gold futures for April delivery traded at $1,339.60 a troy ounce during U.S. trading, up 0.10%, up from a session low of $1,328.20 and off a high of $1,344.90.

The April contract settled down 1.01% at $1,338.20 on Friday.

Futures were likely to find support at $1,320.10 a troy ounce, the low from Feb. 28, and resistance at $1,355.00, the high from March 3.

Ongoing geopolitical tensions in Ukraine bolstered gold's appeal as a hedge on Monday.

Russia remained at odds with the West on how to end the standoff in Ukraine, while U.S. Secretary of State John Kerry declined an invitation to visit Russia for further discussions, which boosted gold prices.

Strong U.S. employment numbers and weak Chinese trade figures strengthened the dollar and capped gold's gains, as the two asset classes tend to trade inversely with one another.

The Bureau of Labor Statistics reported Friday that the U.S. economy added 175,000 jobs in February, beating expectations for a 149,000 increase.

January's figure was revised up to 129,000 from 113,000.

The data extended the dollar's gains into Monday, as the Federal Reserve has said it will pay close attention to data when deciding on how quickly it will dismantle its monthly bond-buying program.

Fed bond purchases, currently set at $65 billion a month, soften the dollar by suppressing interest rates to spur recovery by encouraging investing and hiring.

Weak Chinese trade data supported the greenback as well by bolstering its appeal as a safe-haven asset class.

Data released over the weekend showed that Chinese exports fell 18.1% on-year in February, defying expectations for a 6.8% increase, following a rise of 10.6% in January.

A separate report showed that the annual rate of inflation in China slowed to 2.0% in February, from 2.5% in January.

The numbers confirmed market concerns that emerging markets are cooling and sent investors seeking safety in gold.

Meanwhile, silver for May delivery was down 0.55% at US$20.813 a troy ounce, while copper futures for May delivery were down 1.30% at US$3.042 a pound.

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U.S. stocks dip on Chinese trade figures; Dow slides 0.21%

Investing.com - Investing.com - Soft Chinese trade numbers and concerns the Ukraine crisis remains in a standoff that could escalate sent stock prices edging lower on Monday.

At the close of U.S. trading, the Dow Jones Industrial Average fell 0.21%, the S&P 500 index fell 0.05%, while the Nasdaq Composite index fell 0.04%.

Weak Chinese trade data sent stocks edging lower on Monday.

Data released over the weekend showed that Chinese exports fell 18.1% on-year in February, defying expectations for a 6.8% increase, following a rise of 10.6% in January.

A separate report showed that the annual rate of inflation in China slowed to 2.0% in February, from 2.5% in January.

The numbers confirmed market concerns that emerging markets are cooling which sent investors ditching stocks for safe-harbor asset venues.

Ongoing geopolitical tensions in Ukraine also helped push stocks south.

Russia remains at odds with the West on how to end the standoff in Ukraine, while U.S. Secretary of State John Kerry declined an invitation to visit Russia for further discussions.

Friday's better-than-expected February jobs report cushioned losses somewhat.

The Bureau of Labor Statistics reported Friday that the U.S. economy added 175,000 jobs in February, beating expectations for a 149,000 increase.

January's figure was revised up to 129,000 from 113,000.

Boeing shares took a hit after a 777-200 plane disappeared with 239 passengers during a Malaysia Airlines flight to Beijing on March 8.

On Friday, the company had said that "hairline cracks" had been found in the wings of roughly 40 787 Dreamliners currently in production.

McDonald's shares fell slightly after the company reported a larger-than-expected decline in comparable global sales at established restaurants in February.

Leading Dow Jones Industrial Average performers included Intel, up 0.86%, Chevron, up 0.66%, and UnitedHealth, up 0.63%.

The Dow Jones Industrial Average's worst performers included Boeing, down 1.26%, IBM, down 0.68%, and Nike down 0.60%.

European indices, meanwhile, finished largely lower.

After the close of European trade, the EURO STOXX 50 fell 0.11%, France's CAC 40 rose 0.10%, while Germany's DAX 30 fell 0.91%. Meanwhile, in the U.K. the FTSE 100 fell 0.35%.

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Former Ford chief William Clay Ford Sr. dead of pneumonia

USA-WILLIAMFORD:Former Ford chief William Clay Ford Sr. dead of pneumonia

DETROIT (Reuters) - William Clay Ford Sr., the last surviving grandchild of Ford Motor Co founder Henry Ford, died on Sunday at age 88, the company said.

Ford, owner of the NFL's Detroit Lions and father of William Clay Ford Jr., executive chairman of the automaker, died of pneumonia at his home in the Detroit suburb Grosse Pointe Shores.

(Editing by Bill Trott)

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Four new gases that harm ozone layer found, despite bans - study

By Alister Doyle, Environment Correspondent

OSLO (Reuters) - Scientists have detected four new man-made gases that damage the Earth's protective ozone layer, despite bans on almost all production of similar gases under a 1987 treaty, a study showed on Sunday.

The experts were trying to pinpoint industrial sources of tiny traces of the new gases, perhaps used in making pesticides or refrigerants, that were found in Greenland's ice and in air samples in Tasmania, Australia.

The ozone layer shields the planet from damaging ultra-violet rays, which can cause skin cancer and eye cataracts, and has been recovering after a phase-out of damaging chemicals under the U.N.'s 1987 Montreal Protocol.

"The concentrations are not yet a threat to the ozone layer," lead author Johannes Laube of the University of East Anglia in England told Reuters of the three types of CFCs (chlorofluorocarbon) and one HCFC (hydrochlorofluorocarbon).

In total, the scientists estimated more than 74,000 tonnes of the four had been released to the atmosphere. None was present before the 1960s in Greenland's ice cores, according to the study in the journal Nature Geoscience.

That is only a small fraction of the million tonnes of CFCs produced every year at a 1980s peak, according to the team of scientists in Britain, Germany, Australia, France, the Netherlands and Switzerland.

LOOPHOLES

Laube said it was unknown if the emissions of the new gases were illegal, since the Montreal Protocol has some exemptions. "We hope to tighten the loopholes," he said.

A hole in the ozone layer was found in the 1980s over Antarctica but bans on damaging chemicals, for instance used in hairsprays, foams and refrigerants, means it is on target to recover in the next 50 years.

HCFCs have often been used to replace more damaging CFCs.

One of the newly discovered CFCs was worrying since concentrations were rising fast, Laube said. Such emission increases had not been spotted for other CFCs since the 1990s.

The gases were detected earlier in Greenland than Tasmania, indicating they were produced in the northern hemisphere and then blown south. Research planes, taking air samples around the world, may be able to find the sources, Laube said.

"While these newly discovered gases can, in theory, cause some damage to the ozone layer, their combined abundance is over 500 times smaller than that of the main ozone-destroying compounds in the 1990s," said Martyn Chipperfield, a professor of atmospheric chemistry at the University of Leeds.

"These new observations do not present concern at the moment, although the fact that these gases are in the atmosphere and some are increasing needs investigation," he said.

Laube said the gases are also likely to be powerful greenhouse gases, albeit in tiny amounts. CFCs are often thousands of times more powerful than carbon dioxide at trapping heat in the atmosphere.

(Reporting By Alister Doyle; Editing by Mike Collett-White)

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BioAsia 2014: A holistic approach to product innovation

Companies from across the globe come together to pull in ideas and resources for sustainable and viable biotech innovations. It may sound technical, but CNBC-TV18 learnt that it is very relevant to our growing healthcare needs.

BioAsia 2014 Innovate Evolve was held in Hyderabad this year. Companies from across the globe come together to pull in ideas and resources for sustainable and viable biotech innovations. It may sound technical, but CNBC-TV18 learnt that it is very relevant to our growing healthcare needs.

BioAsia 2014 had an eminent representatives from across the world taking over the pedestal. Some of the representatives like K Pradeep Chandra, Principal Secretary, Government of Andhra Pradesh, GV Prasad, Chairman & CEO of Dr Reddy's Laboratories , Chris Stirling, Global Head-Life Sciences of KPMG, UK shared their views on the pharma sector with CNBC-TV18's Archana Shukla.

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Western Disturbance to bring rain in North India, pre-monsoon showers continue in South

A fresh Western Disturbance at present lies over Afghanistan and adjoining Pakistan area. The system will take another two days to enter the Indian sub-continent and affect weather conditions here.

The system will bring rain in Jammu & Kashmir, Himachal Pradesh, Punjab, Haryana, Delhi/NCR and west Uttar Pradesh. Hailstorm is also likely during this period at some places. Today, Haryana, Punjab and Jummu & Kashmir could receive light rain. The rain belt will gradually shift towards west Uttar Pradesh. Delhi, north west Uttar Pradesh, Madhya Pradesh, Vidarbha and Madhya Maharashtra could receive good showers on the 11th of March.

Weather in South India

Meanwhile, Maharashtra continues to receive moisture from both the Bay of Bengal and the Arabian Sea. The discontinuity of winds from Tamil Nadu to Maharashtra is also a reason for continuous pre-monsoon showers in peninsular India.

According to the latest weather update by Skymet Meteorology Division in India, in the last 24 hours Maharashtra, Telangana, interiors of Karnataka and Kerala received light rain.

Akola in Maharashtra received 0.2 mm of rain. Rain was widespread in Karnataka, where several stations recorded some rain. Bellary received 14 mm, Chitradurga 8 mm, Mysore 4 mm, Cochin 2 mm, Bijapur 2 mm, Raichur 1 mm, Bangalore and Gulbarga both 0.7 mm of rain. Minicoy, also known as Maliku in the archipelago of Lakshadweep, received 11 mm of rain. Udhagamandalam, better known as Ooty in Tamil Nadu received 5 mm of rain.

This region has been receiving pre-monsoon showers since the past one week. Parts of Kerala, Andhra Pradesh and Maharashtra have already recorded around 40 mm of rain in the month of March. Though the intensity has reduced for the time being, it is likely to pick up once again as the Western Disturbance starts affecting weather in North India.

By: Skymetweather.com

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