Forex - Dollar edges lower amid profit taking

Investing.com - The dollar traded mixed to lower against most major currencies in a quiet session on Monday after investors locked in gains from Friday's surprisingly strong October jobs report and sold the unit for profits.

In U.S. trading on Monday, EUR/USD was up 0.33% at 1.3408.

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

A day earlier, official data showed that the U.S. economy grew 2.8% on year in the third quarter, well beyond expectations for 2.0% growth.

The figures fueled market sentiments that the Federal Reserve could soon announce plans to scale back its USD85 billion in monthly asset purchases, which drive down borrowing costs to spur recovery, weakening the greenback as a side effect.

Profit taking kicked in on Monday, especially after investors concluded that the Fed may likely leave its stimulus programs unchanged until Janet Yellen takes the helm of the U.S. central bank and holds her first policy meeting in March.

Further fueling profit taking were concerns that fewer high-quality jobs are being created when compared to retail, leisure and hospitality jobs, which could prompt the Fed to keep policy ultra-loose into early 2014.

The session saw little in the way of economic indicators, which allowed for quiet trading.

The greenback was up against the pound, with GBP/USD down 0.15% at 1.5990.

The dollar was up against the yen, with USD/JPY up 0.12% at 99.21, and down against the Swiss franc, with USD/CHF down 0.23% at 0.9194.

The dollar was mixed against its cousins in Canada, Australia and New Zealand, with USD/CAD down 0.03% at 1.0474, AUD/USD down 0.27% at 0.9357 and NZD/USD trading up 0.04% at 0.8248.

The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was down 0.16% at 81.16.

Investing.com offers an extensive set of professional tools for the financial markets.
Read more News on Investing.com and download the new Investing.com Stocks & Finance App for Android!

08.10 | 0 komentar | Read More

Forex - Aussie dollar weakens before NAB survey, U.S.dollar gains on yen

Investing.com - The Australian dollar drifted lower in early Asian trade on Tuesday ahead of a closely watched survey by National Bank of Australia on business confidence and conditions for October, while the dollar gained against the yen on continued expectations the U.S. Federal Reserve will start to taper its stimulus program soon.

AUD/USD traded at 0.9356, down 0.05%, and in a range of 0.9345 - 0.9390 ahead of the NAB survey at 1130 local time (0030 GMT), which is said to be closely watched by the Reserve Bank of Australia as a leading indicator to assess prospects for the economy.

USD/JPY traded at 99.18, up 0.02%, and in a range of 99.16 - 99.21, on a mild resumption of strength in the Asian trading day after investors overnight locked in gains from Friday's surprisingly strong October jobs report and sold the unit for profits.

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

On the Japanese data from for Tuesday is the October consumer confidence survey at 1400 local time (0500 GMT) expected to show a reading of 46.3, up from 45.4 in September.

EUR/USD held steady at 1.3405 in early Asian tr
Investing.com offers an extensive set of professional tools for the financial markets.
Read more News on Investing.com and download the new Investing.com Stocks & Finance App for Android!

08.10 | 0 komentar | Read More

Hero keeper Krul hails 'best performance yet'

By Mike Collett

(Reuters) - Newcastle United goalkeeper Tim Krul produced what he said was the performance of his career as his team survived a second-half onslaught from Tottenham Hotspur to win 1-0 at White Hart Lane in the Premier League on Sunday.

The 25-year old Dutch international was mobbed by his team mates at the end after thwarting Spurs time and again to help his side to a second successive win after beating Chelsea 2-0 last week.

"These kind of games do not happen very often and three points away at Tottenham is a fantastic result," said Krul on Sky Sports.

The keeper used body, arms and legs in a stellar display that produced 14 saves, the most in a Premier League match this season.

Asked what his best save was, he picked out one from Roberto Soldado, when he acrobatically tipped a header over the bar.

"With the sun so low it was difficult to see it and it just kick-started from there," he said.

"I don't think I have ever played as well. This is the highlight of my career. It was nice to celebrate with the back four at the end."

Newcastle manager Alan Pardew told reporters: "That was one of the best goalkeeping displays I have ever seen. Wow! I think he is the best Dutch goalkeeper and I think he proved that today."

Newcastle won with a goal after 13 minutes when French international striker Loic Remy rounded 42-year-old Spurs stand-in keeper Brad Friedel and fired the ball into the net.

(Editing by Ed Osmond)

08.10 | 0 komentar | Read More

Gold steady early in Asia after sharp drop last week on U.S. jobs data

Investing.com - Gold prices held steady on Monday in early Asian trade, recovering slightly from a sharp drop last week as demand for dollars rose in the wake of a stronger than expected U.S. jobs report.

Gold futures for December delivery on the Comex division of the New York Mercantile Exchange traded at 1,287.50 a troy ounce, down 0.04%, hovering between positive and negative territory. Gold futures for December settled 1.8% down at $1,284.60 an ounce on Friday, the lowest settlement since $1,282.30 an ounce on Oct. 16.

The world's top two gold importers, India and China, have not stepped up purchases on price dips recently, apparently waiting on more clarity on U.S. Federal Reserve monetary policy.

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 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 and thus weakens gold.

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.

Investing.com offers an extensive set of professional tools for the financial markets.
Read more News on Investing.com and download the new Investing.com Stocks & Finance App for Android!

08.10 | 0 komentar | Read More

Mkt may see correction ahead: Sushil Kedia

Sushil Kedia of CIMB, in an interview to CNBC-TV18, presents a technical perspective on the markets going forward.

Also read: Current situation worse than that in 2008: Marc Faber

Below is the edited transcript of his interview to CNBC-TV18.

Q: This week was a bit of a tough week. We had a couple of choppy days and the markets closed at the lowest point everyday. How would you approach the next week? Do you think this choppiness or volatility could continue?

Kedia: I am not looking merely at choppiness. There is a firm sign of a clear top coming in. I have been talking toppish for almost 5-6 weeks the day the new RBI governor made his maiden speech market had made a high of 6174 since then we dropped out 400 points. We then rose 600 points from those lows and we have come back to close roughly where the first speech from the RBI governor came.

In about 6-7 weeks, net-net Nifty has really not moved in that net change sense but a lot of things on the internals have changed.

A major risk off season is going to return upon us; the winter of risk off. I have been a little early in calling the markets top; it may have topped right now.

Q: You have been calling for a steep correction in US markets. When do you see that playing out? What kind of correlation will other asset classes like the dollar and in turn Indian equity markets have if that steep correction plays out?

Kedia: The call for a correction has been getting constantly signalled from the charts when you are anticipating. You are calling for a trend reversal which is not yet in place, the risk of getting whipsawed a few times, the risk of having to hit stops will be in place, but from the several US indices the one that has clearly made a reversal is the Nasdaq 100.

Nasdaq 100 given its nature is high-beta, there are a couple of interesting insights. While the ratio chart of Nasdaq 100 to S&P 500 has constantly been rising since the lows of 2001 when Nasdaq 100 collapsed, this 12-year outperformance of Nasdaq 100 is almost about getting over.

It is not just that index is stopped out, its outperformance too is. When I also ran a ratio chart between Nasdaq 100 and the CNX-IT, the kind of 10 percent additional upmove the CNX-IT made since I stuck my neck out that this index is topping out; even though it happened in fairly volatile fashion.

Not just trying to hang onto a view that has so far been a loser in last one month, but the CNX-IT has had underperformed the Nasdaq 100.

Going forward, if my thesis comes right on a winter of risk-off and pretty much everything in the world will go down except for the US dollar, then who knows aversion to investment in IT stocks may combine that with equity beta. The CNX-IT has a far strong beta with the Nifty index than with the INR-USD. That was one way to correlate the US market.

Another way is the US equity markets are the last ones to move in short-term trading cycles. Korea has made a clear-cut top out. Last three weeks, basic technical analysts will tell you that market is no longer bullish; it has definitely reversed. China was not bullish.

You do not count Japan really in Asia, but Japan is inside a fulcrum. It is going to breakout either ways. I am tipping my head. It is not going to breakout upwards. So while the US markets kept on alluding a sense of strength there has been a distribution going on elsewhere.

It looks like once these markets top out, the complacency that is going up will be abandoned very rapidly.

Disclaimer: The above views are the personal analysis of Sushil Kedia, President ATMA and do not  reflect any opinion of ATMA

To know more about ATMA, please visit http://www.atma-india.net/

08.10 | 0 komentar | Read More

Shriram City files draft prospectus for NCD issue

Nov 09, 2013, 06.12 PM IST

Shriram City Union Finance a Shriram group company has filed the Draft Prospectus for a public issue of NCDs aggregating upto Rs 10,000 lakhs with an option to retain over-subscription upto Rs 10,000 lakhs for issuance of additional NCDs, aggregating to a total of upto Rs 20,000 lakhs.

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

Shriram City files draft prospectus for NCD issue

Shriram City Union Finance a Shriram group company has filed the Draft Prospectus for a public issue of NCDs aggregating upto Rs 10,000 lakhs with an option to retain over-subscription upto Rs 10,000 lakhs for issuance of additional NCDs, aggregating to a total of upto Rs 20,000 lakhs.

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

Shriram City files draft prospectus for NCD issue

Shriram City Union Finance a Shriram group company has filed the Draft Prospectus for a public issue of NCDs aggregating upto Rs 10,000 lakhs with an option to retain over-subscription upto Rs 10,000 lakhs for issuance of additional NCDs, aggregating to a total of upto Rs 20,000 lakhs.

Share  .  Email  .  Print  .  A+A-

Shriram City Union Finance has filed the draft prospectus for a public issue of NCDs aggregating upto Rs 10,000 lakhs with an option to retain over-subscription upto Rs 10,000 lakhs for issuance of additional NCDs, aggregating to a total of upto Rs 20,000 lakhs. The funds raised through this Issue will be utilised for various financing, lending, investments, repaying company's existing liabilities or loans, towards business operations, capital expenditure, working capital requirements and general corporate purposes.

The NCDs offered through this Draft Prospectus are proposed to be listed on the BSE and the National Stock Exchange of India (NSE). The face value of Secured Redeemable NCDs and Unsecured Redeemable NCDs has fixed at Rs 1000 / NCD.

Shriram City Union Finance is a deposit-taking NBFC with multiple product lines, including loans to the small enterprise finance segment; loans against gold; financing for two wheelers, appliances and other commercial goods.

Also Read: Muthoot Finance files draft prospectus for NCD issue

The NCDs proposed to be issued under the Issue have been rated 'CARE AA' by CARE for an amount of upto Rs 20, 000 lakhs.

ICICI Securities Limited as a lead manager, Shriram Insight Share Brokers Limited as a registrar and GDA Trusteeship Limited has appointed as
Debenture Trustee to the issue.

To read the full report click here

Tags: Shriram City Union Finance, NCD, Draft Prospectus, NSE, National Stock Exchange of India, BSE, NBFC, CARE, ICICI Securities Limited, lead manager, Shriram Insight Share Brokers Limited, registrar, GDA Trusteeship Limited, Debenture Trustee

Get Wealthy Tool Kit

The basics

Tools and calculators

08.10 | 0 komentar | Read More

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.

Investing.com offers an extensive set of professional tools for the financial markets.
Read more News on Investing.com and download the new Investing.com Stocks & Finance App for Android!

08.10 | 0 komentar | Read More

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%.

Investing.com offers an extensive set of professional tools for the financial markets.
Read more News on Investing.com and download the new Investing.com Stocks & Finance App for Android!

08.10 | 0 komentar | Read More

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.

Investing.com offers an extensive set of professional tools for the financial markets.
Read more News on Investing.com and download the new Investing.com Stocks & Finance App for Android!

08.10 | 0 komentar | Read More

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.

Investing.com offers an extensive set of professional tools for the financial markets.
Read more News on Investing.com and download the new Investing.com Stocks & Finance App for Android!

08.10 | 0 komentar | Read More