USD/JPY gains on upbeat U.S retails sales figures

Investing.com - Investing.com - Better-than-expected U.S. retail sales gave the dollar a shot in the arm against the yen on Monday, rekindling sentiments that U.S. recovery is gaining steam after a rough winter and will keep the Federal Reserve on course to winding down stimulus programs this year.

In U.S. trading, USD/JPY was up 0.22% and trading at 101.84, up from a session low of 101.42 and off a high of 101.01.

The pair was expected to test support at 101.33, Friday's low, and resistance at 104.12, the high from April 4.

The Commerce Department reported earlier that U.S. retail sales rose 1.1% in March, exceeding expectations for a 0.8% gain. Retail sales in February were revised up to a 0.7% increase from a previously estimated 0.3% rise.

Core retail sales, which exclude automobiles, rose 0.7% last month, beating expectations for a 0.5% reading, after a 0.3% gain in February

Consumer demand drives the bulk of U.S. economic output, and the numbers fueled expectations that a slew of soft economic indicators hitting the wire earlier this year were the product of rough winter weather and not a softening of underlying demand.

The data also fueled sentiments that the Federal Reserve will continue to wind down its monthly asset-purchasing program as the year unfolds.

Fed asset purchases, currently standing at $55 billion a month, weaken the greenback by suppressing borrowing costs to spur recovery, though talk of waning monetary intervention often strengthens the U.S. currency.

Elsewhere in the U.S., data revealed U.S. business inventories rose less than expected.

In a report, Census Bureau reported earlier that U.S. business inventories rose 0.4% in February from 0.4% in the preceding month.

Analysts were expecting a 0.5% reading in February.

The yen, meanwhile, was up against the euro and up against the pound, with EUR/JPY down 0.24% at 140.77, and GBP/JPY trading up 0.25% at 170.47.

The euro slid after ECB President Mario Draghi said Saturday that further gains in the euro would trigger additional monetary easing to keep consumer prices in comfort zones.

"A strengthening of the exchange rate requires further monetary stimulus. That is an important dimension for our price stability," he said.

On Tuesday, Fed Chair Janet Yellen is to speak; her comments will be closely watched.

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Dollar gains on robust U.S. retail sales report

Investing.com - Investing.com - The dollar firmed against most major currencies on Monday after data revealed U.S. retail sales shot up in March, though concerns the crisis in Ukraine could escalate watered down the greenback's advance somewhat.

In U.S. trading on Monday, EUR/USD was down 0.50% at 1.3816.

The Commerce Department reported earlier that U.S. retail sales rose 1.1% in March, exceeding expectations for a 0.8% gain. Retail sales in February were revised up to a 0.7% increase from a previously estimated 0.3% rise.

Core retail sales, which exclude automobiles, rose 0.7% last month, beating expectations for a 0.5% reading, after a 0.3% gain in February

Consumer demand drives the bulk of U.S. economic output, and the numbers fueled expectations that the Federal Reserve will continue to wind down its monthly asset-purchasing program as the year unfolds.

Fed asset purchases, currently standing at $55 billion a month, weaken the greenback by suppressing borrowing costs to spur recovery, though talk of waning monetary intervention often strengthens the U.S. currency.

Elsewhere in the U.S., data revealed U.S. business inventories rose less than expected in February.

In a report, Census Bureau reported earlier that U.S. business inventories rose 0.4% in February from 0.4% in the preceding month.

Analysts were expecting a 0.5% reading in February.

Meanwhile across the Atlantic, the euro slid after ECB President Mario Draghi said Saturday that further gains in the euro would trigger additional monetary easing to keep consumer prices in comfort zones.

"A strengthening of the exchange rate requires further monetary stimulus. That is an important dimension for our price stability," he said.

ECB governing council member and Bank of France governor Christian Noyer said Monday that a weaker euro is desirable, adding that the stronger the currency is the more "accommodating" monetary policy needs to be.

Elsewhere, investors shrugged off data showing that industrial production in the euro area rose 0.2% in February from a month earlier, pushing the annual rate up to 1.7%.

Market expectations had been for an annual gain of 1.5% and a monthly increase of 0.2%.

Geopolitical concerns capped the dollar's advance and fueled demand for safe-haven gold positions.

Tensions between Russia and Ukraine mounted after a deadline set by Ukraine for pro-Russian separatists to exit government buildings they are occupying in the eastern reaches of the country expired on Monday.

The U.S. has indicated that it is prepared to impose more sanctions against Moscow if Russian encroachments in eastern Ukraine continue.

The dollar was up against the yen, with USD/JPY up 0.05% at 101.67, and up against the Swiss franc, with USD/CHF up 0.45% at 0.8799.

The greenback was up against the pound, with GBP/USD down 0.03% at 1.6724.

The dollar was mixed against its cousins in Canada, Australia and New Zealand, with USD/CAD down 0.11% at 1.0968, AUD/USD up 0.14% at 0.9411 and NZD/USD down 0.24% at 0.8670.

The US Dollar Index, which tracks the performance of the greenback versus a basket of six other major currencies, was up 0.34% at 79.83.

In the U.S. on Tuesday, Fed Chair Janet Yellen is to speak; her comments will be closely watched.

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Chelsea beat Swansea, keep up pressure on leaders Liverpool

SOCCER-ENGLAND-CHELSEA:Chelsea beat Swansea, keep up pressure on leaders Liverpool

LONDON (Reuters) - Second-placed Chelsea won 1-0 at Swansea City on Sunday, taking advantage of playing against 10 men for most of the match to keep up the pressure on Premier League leaders Liverpool.

That left Chelsea two points behind Liverpool after 34 games each with Jose Mourinho's team due to travel to Anfield for a potential title decider in two weeks time.

Earlier, the Merseysiders improved their prospects of a first English title for 24 years with a thrilling 3-2 win over third-placed Manchester City.

Chelsea were well on top after Swansea's Spanish defender Chico Flores was sent off in the first quarter of an hour for two yellow cards.

But they could not make a breakthrough until the 67th minute when Demba Ba, the goalscoring hero in the Champions League quarter-final win over Paris Saint-Germain on Tuesday, did the trick again.

Swansea, who have dropped into the bottom six since sacking Michael Laudrup as manager in February, are only three points above the relegation places with four matches left.

(Reporting by Steve Tongue, Editing by Ed Osmond)

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Moscow protest for media freedom draws 5,000 people

MOSCOW (Reuters) - About 5,000 Russians, some waving Ukrainian flags, rallied in central Moscow on Sunday to protest at what they say is a government crackdown on independent media intended to stifle debate about the crisis in Ukraine.

In the past few weeks, Russia has removed the longtime editor of a popular Russian Internet news site Lenta.ru and taken an independent television channel off air.

The Kremlin denies allegations of censorship or pressure on the media. Most Russians support the Kremlin's policy on Ukraine and the annexation of the Crimean Peninsula has significantly boosted public approval ratings of President Vladimir Putin, polls indicate.

Protesters at the heavily policed rally listened to speeches from activists, decrying state control of the media.

"Russia's main problem at the moment is lying, a problem leading to war in Ukraine, (and) the isolation of Russia from the rest of the world," said Igor Yakovenko, the former head of Russia's Union of Journalists, who helped to organise the protest.

The crisis in Ukraine has led to the most serious standoff between Russia and the West in decades. Both sides accuse each other of manipulating the news for political ends.

In March, Russia blocked access to the blogs of prominent Kremlin foes Alexei Navalny and Garry Kasparov and other Internet sites that have become platforms for opposition voices.

The move followed the enactment of a law allowing prosecutors to order providers to block access to sites deemed to have published calls for participation in demonstrations planned without the consent of the government.

At Sunday's rally, protester Ekaterina Maldonko said the media atmosphere in Russia was reminiscent of the country's Communist totalitarian past.

"I'm here to protest against the rapid return of 1937, against censorship, (and) endless lies from our zombie-box (television). I also want to express my support for the heroes of Ukraine," Maldonko said.

Her mention of 1937 was a reference to the height of purges by Soviet dictator Josef Stalin who during his long rule sent of millions of people to their deaths.

(Reporting by Alexander Reshetnikov; Writing by Alessandra Prentice; Editing by Stephen Powell)

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Maoist rebels kill 13 in Chhattisgarh blasts

The rebels have operated for decades across a wide swathe of central and eastern India, and grew in strength during recent times in areas where poor, tribal villagers came into conflict with mining companies seeking resources for industrialisation.

Suspected Maoist rebels set off two bombs in Chhattisgarh on Saturday, killing 13 people, most of them paramilitary soldiers and officials charged with holding elections in the region.

The attacks, half an hour apart, were the most serious since voting to elect a new central government began last week in a six-week process to allow security forces to move across the country.

The first explosion took place in a bus in Bijapur carrying election officials who were on their way back after completing the vote. Seven people were killed.

A second bomb hit an ambulance in the thickly forested Bastar region killing five members of the Central Reserve Police Force and their driver, said R.K.Vij, the head of anti-Maoist operations.

It was not clear why the soldiers were travelling in the ambulance, but in the past government officials are known to be have used such vehicles to avoid attacks by the Maoists.

The rebels have operated for decades across a wide swathe of central and eastern India, and grew in strength during recent times in areas where poor, tribal villagers came into conflict with mining companies seeking resources for industrialisation.

The Maoists seek the violent overthrow of the Indian state, accusing it initially of taking over land from poor peasants and now plundering the mineral wealth of states likes Chhattisgarh.

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Summer leads to spike in Asthma symptoms

Seasons have a very powerful potency in our lives and the shift from one season to the other affect our daily lives, the foods we crave for, clothes we wear and also the diseases we have. Spring becomes challenging for people suffering from asthma. It was earlier believed that summer in India is a time of reprieve as tree and grass pollen count reduces along with decline in cold and flu viruses.

Cold water has been poured over this believe by medical advisors who say that asthma actually becomes worse in summer as heat accompanied by thunderstorms create ideal condition for outdoor molds. Thus summer, along with a host of other problems, brings tough days for asthmatic patients. In fact spending too many hours outdoors will increase the risk of an asthmatic attack for susceptible adults and children.

Summer heat waves also have the reputation for filling up emergency rooms of hospitals with asthmatic patients. Respiratory viral infections are also a trigger for asthma problems.

Why asthma worsens with climate change?

It is true that asthma symptoms can flare due to various reasons like second-hand smoking and exercise. But the climate change triggers include pollen, air pollution, temperature, humidity and viruses.

With the change of season, if one acquires a never-ending allergy, the person could possibly be allergic to the spores of molds or other fungi. The spores are spread in windy weather and inhaling the spores can cause severe allergies in asthmatic patients. With fungi growing everywhere, allergic reactions can occur throughout the year.

And therefore as the old saying goes, "life is in the breath" and the one who "half breathes half lives". Breathing problem definitely wreaks havoc in our lives but with effective treatment one can resolve this issue and lead a hassle free and productive life.

picture courtesy- The Telegraph

By: Skymetweather.com

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Gold erases gains from Fed expectations and falls on pricing data

Investing.com - Investing.com - Gold prices erased recent gains stemming from expectations for U.S. monetary policy to stay loose and fell on Friday after U.S. wholesale pricing data beat market expectations

On the Comex division of the New York Mercantile Exchange, gold futures for June delivery traded at $1,318.60 a troy ounce during U.S. trading, down 0.14%, up from a session low of $1,314.40 and off a high of $1,324.20.

The June contract settled up 1.12% at $1,320.50 on Thursday.

Futures were likely to find support at $1,295.90 a troy ounce, Monday's low, and resistance at $1,324.90, Thursday's high.

Gold prices shot up this week after language out of the Federal Reserve suggested that interest rates will remain low for some time due to soft inflation rates and a slack labor market.

On Friday, prices got a shot in the arm after U.S. wholesale prices came in stronger than expected for March.

Official data released earlier showed that the U.S. producer price index rose 0.5% in March, exceeding expectations for a 0.1% gain, after a 0.1% fall the previous month.

Core producer price inflation, which is stripped of volatile food, energy and trade items, rose 0.6% in March, beating expectations for a 0.2% rise after a 0.2% decline in February.

Elsewhere, the preliminary Thomson Reuters/University of Michigan consumer sentiment index came to 82.6 in April, beating expectations for a 81.0 reading.

Still, growing market consensus that the Federal Reserve is nowhere close to tightening policy cushioned gold's losses.

Meanwhile, silver for May delivery was down 0.66% at US$19.958 a troy ounce, while copper futures for May delivery were down 0.11% at US$3.042 a pound.

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Dollar gains on upbeat U.S. producer price index

Investing.com - Investing.com - The dollar traded mixed to higher against most major currencies on Friday after U.S. consumer sentiment and wholesale pricing reports beat expectations.

In U.S. trading on Friday, EUR/USD was down 0.03% at 1.3883.

Upbeat U.S. indicators supported the greenback on Friday.

The preliminary Thomson Reuters/University of Michigan consumer sentiment index came to 82.6 in April, beating expectations for a 81.0 reading.

Separately, official data showed that the U.S. producer price index rose 0.5% in March, exceeding expectations for a 0.1% gain, after a 0.1% fall the previous month.

Core producer price inflation, which is stripped of volatile food, energy and trade items, rose 0.6% in March, beating expectations for a 0.2% rise after a 0.2% decline in February.

Still, growing market consensus that the Federal Reserve is nowhere close to tightening policy watered down the greenback's gains.

Meanwhile across the Atlantic, the euro saw some support after Greece made a successful return to the financial markets on Thursday, raising €3 billion in its first bond auction since 2010, when Athens sought its first bailout.

The dollar was up against the yen, with USD/JPY up 0.07% at 101.61, and down against the Swiss franc, with USD/CHF down 0.10% at 0.8757.

The greenback was up against the pound, with GBP/USD down 0.28% at 1.6737.

The dollar was mixed against its cousins in Canada, Australia and New Zealand, with USD/CAD up 0.35% at 1.0974, AUD/USD down 0.18% at 0.9397 and NZD/USD up 0.10% at 0.8689.

The US Dollar Index, which tracks the performance of the greenback versus a basket of six other major currencies, was up 0.09% at 79.55.

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Dollar dips on Fed minutes, shrugs off solid jobless claims report

Investing.com - Investing.com - The dollar weakened against most major currencies on Thursday as investors continued to avoid the greenback after the minutes from the Federal Reserve's March policy meeting revealed monetary authorities are concerned with soft consumer prices.

In U.S. trading on Thursday, EUR/USD was up 0.27% at 1.3893.

The Federal Reserve Board of Governors unanimously voted to scrap a threshold that would hike interest rates once the unemployment rate hits 6.5%, according to the minutes of the Fed's March policy meeting released on Wednesday, a sign monetary authorities are growing concerned over low inflation rates.

In the past, the Fed had indicated rates were set to rise when the unemployment rate hits 6.5% provided that figure accompanied a 2.5% inflation rate.

Today, the headline unemployment rate stands at 6.7%, not far from the previous threshold, though labor markets remain slack and inflation remains well below 2.5%.

The Federal Reserve's decision to do away with its rate-hike threshold left markets convinced that interest rates will remain low for some time to come, even after the U.S. central bank winds down monetary stimulus programs.

Low borrowing costs weaken the dollar.

The minutes also indicated general concerns among monetary authorities over persistently low inflation rates.

"In light of their concerns about the possible persistence of low inflation, members agreed that inflation developments should be monitored carefully," the Fed minutes said.

Elsewhere on Thursday, the Labor Department reported that the number of individuals filing for initial jobless benefits in the week ending April 4 fell by 30,000 to 300,000, the lowest since May of 2007, from the previous week's upwardly revised total of 332,000.

Analysts had expected jobless claims to decline to 320,000, though the numbers did little to boost the dollar.

Meanwhile in the euro zone, Greece made a successful return to the financial markets on Thursday, raising €3 billion in its first bond auction since 2010, when Athens sought its first bailout.

The dollar was down against the yen, with USD/JPYY down 0.55% at 101.43, and down against the Swiss franc, with USD/CHF down 0.43% at 0.8758.

The greenback was up against the pound, with GBP/USD down 0.02% at 1.6790.

The Bank of England left the benchmark interest rate unchanged at 0.50% earlier Thursday, in a widely anticipated move.

The dollar was mixed against its cousins in Canada, Australia and New Zealand, with USD/CAD up 0.39% at 1.0923, AUD/USD up 0.37% at 0.9425 and NZD/USD down 0.20% at 0.8697.

The Aussie rise official data released earlier revealed that the number of employed people in Australia rose by 18,100 in March, exceeding expectations for a 5,000 rise.

Australia's unemployment rate ticked down to 5.8% last month, from 6.1% in February.

The US Dollar Index, which tracks the performance of the greenback versus a basket of six other major currencies, was down 0.20% at 79.44.

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

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U.S. stocks hammered by tech selloff; Dow plummets 1.62%

Investing.com - Investing.com - U.S. stocks plunged on Thursday fueled by a sell-off in the technology and biotechnology sectors, as investors viewed valuations have grown too lofty.

At the close of U.S. trading, the Dow 30 fell 1.62%, the S&P 500 index fell 2.09%, while the Nasdaq fell 3.10%.

Biotech, Internet and other tech companies, bigt beneficiaries of a five-year bull market fueled in part by loose monetary policies, took a pounding on Thursday on sentiments valuations have grown too high.

Facebook shares plunged 5.21%, search-engine giant Google fell 3.59% while Apple shares fell 1.29%.

Defensive plays did see some demand, as investors shifted their focus away from momentum stocks and more towards safer plays that will produce stable earnings and cash flow as the underlying economy improves without Fed support.

Since the 2008 financial crisis, the Federal Reserve has bought trillions of dollars in bonds in an effort to suppress borrowing costs to spur recovery, with stocks being one of the biggest beneficiaries.

Leading Dow Jones Industrial Average performers included McDonald's Corporation (NYSE:MCD), up 1.10%, AT&T Inc (NYSE:T), up 0.59%, and Coca-Cola Company (NYSE:KO), down 0.24%.

The Dow Jones Industrial Average's worst performers included American Express Company (NYSE:AXP), down 3.77%, Walt Disney Company (NYSE:DIS), down 3.68%, and J P Morgan Chase & Co (NYSE:JPM), down 3.16%.

European indices, meanwhile, finished largely lower.

After the close of European trade, the DJ Euro Stoxx 50 fell 0.98%, France's CAC 40 fell 0.66%, while Germany's DAX fell 0.54%. Meanwhile, in the U.K. the FTSE 100 rose 0.10%.

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

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