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Consumer and housing data fan recovery worries

Consumer spending and incomes were flat in June while home purchase contracts tumbled to a record low, implying an anemic economic recovery for the remainder of this year.

Commodity Trends:India for higher farm output

A Sub-committee on agriculture, appointed by the Prime Minister's Council on Trade and Industry, met for the first time and decided to come up with a plan to achieve higher growth in the agriculture sector through public sector involvement. The country's average farm growth in the first three years of the 11th Five-Year Plan period (2007-12) has been only 2.2 per cent, against the target of 4 per cent for the entire period. The mid-term appraisal has estimated the average growth in the sector to...

Consumer sentiment sags to lowest since November

Consumer sentiment plunged in July to its lowest level in 9 months on bleak prospects for jobs and income a year since the economic recovery began, a private survey released on Friday showed.

India's WPI for food articles rises by 0.4%

India's Wholesale Price Index inflation for food and fuel, power, light & lubricants has rose by 0.4% for the week ended 17th July as compared to 307.5 for the previous week.

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Dollar falls vs yen; euro trades in narrow range

The dollar fell versus the Japanese yen on Wednesday as a weaker-than-expected reading on new orders for U.S. durable goods added to fears about the U.S. economic outlook. Demand for the dollar also fell against the euro as investors awaited for more supportive news for the euro, which rose above $1.30 but has been stuck in a range recently.

Euro firm on risk demand, Aussie hit by CPI

The euro struck a two-month high against the yen and stayed within reach of an 11-week high against the dollar on Wednesday, as markets stayed in risk-on mode on robust European bank earnings and solid economic data.

Euro off 11-wk highs, Aussie down after CPI

The euro hovered below a key level against the dollar on Wednesday, dented by profit-taking after it hit an 11-week high, while the Australian dollar fell as inflation data pared the chances of an interest rate rise next week.

Euro slips from 11-wk highs, Aussie down after CPI

The euro slipped below a key level against the dollar on Wednesday, dented by profit-taking after it hit an 11-week high, while the Australian dollar fell as inflation data pared the chances of an interest rate rise next week.

Daily Forex Commentary 28/7/2010

An increase in the Australian Conference Board leading index from 0.1% to 0.3% during the month of May added some underlying support to the Aussie dollar in Asia yesterday as it held firm above the 90 cent handle etching out gains to enter offshore exchange at 0.9025.

Euro hits 11-wk high as bank earnings lift stocks

The euro hit an 11-week high against the dollar and a seven-week high against the yen on Tuesday as solid bank earnings lifted equities and encouraged investors to take on more risk. Strong earnings from Swiss bank UBS (UBSN.VX) helped lift European shares .FTEU3, with banking stocks .SX7P leading the gains and supporting the market's relief over the results of last week's European bank stress tests.

Gold holds below $1,185/oz as ETF dips further

Gold held below $1,185 an ounce in Europe on Tuesday, supported by physical demand after this month's slip and a softer dollar, but with a dip in holdings of the largest gold exchange-traded fund undermining sentiment.

Australian Dollar Outlook 27/7/2010

Overnight we saw the AUD break through USD0.9000 and this morning it is currently trading comfortably above this level.

Japan's Your Party calls for weak yen, BOJ easing

Japan's government needs to weaken the yen and undertake an expansionary fiscal policy to beat deflation, the leader of Japan's Your Party, a small opposition party that made strides in an upper house election, said on Monday.

UK economy grew twice as fast as expected in Q2

Britain's economy grew almost twice as fast as expected in the second quarter of this year propelled by a sharp pick-up in services and the biggest rise in construction in almost 50 years.

Bernanke says Fed to act if U.S. recovery stalls

The Federal Reserve stands ready to ease monetary policy further if the budding U.S. economic recovery withers, Fed Chairman Ben Bernanke said on Wednesday, describing the outlook as unusually uncertain.

Instant View: Bernanke expresses concern about economy

Federal Reserve Chairman Ben Bernanke said on Wednesday the U.S. economy faces unusually uncertain prospects, and that the central bank was ready to take further steps to bolster growth if needed.

Gold is bullish despite the recent fall: Jeff Nichols

Gold prices have fallen sharply from all-time high of $1265 on June 21st on reassessment of US economic prospects by some gold traders and investors, and an abatement in perceived European sovereign risk, accoridng to Jeffrey Nichols, Senior Economic Advisor to Rosland Capital. However, he has maintained a bullish view on gold on loss of confidence in dollar and inflation.

Australian Dollar Outlook 21/7/2010

The Australian Dollar has opened higher after the Reserve Bank of Australia (RBA) said the next rate movement was all but dependent on official inflation data due next week.

Bernanke must appear concerned, not desperate

How much would the U.S. economy have to weaken for the Federal Reserve to try to push borrowing costs even lower?

ECB's Noyer urges European govts to press on with cuts

European governments must press ahead with deficit cuts to restore investor confidence even if it means economic growth suffers, European Central Bank Governing Council member Christian Noyer said on Monday.

Gold eases as deflation signs outweigh euro-crisis

Gold eased in Asia on Monday after see-sawing most of the day as selling on low inflation signals gave way to safe-haven buying on concern over Hungary's debt crisis and a cut to Ireland's sovereign rating. But by late afternoon, bearish sentiment had again gripped the sector, sending bullion down by more than $2 an ounce.

Gold steadies as Hungary raises fresh euro zone concern

Gold steadied in Asia on Monday after early selling on low inflation signals gave way to fresh concerns over Hungary's ability to pay its debts prompted safe haven buying. But longer term, the firmness in bullion is not supported by technical analysis, which suggests gold is ready to ease further to lows last seen in late May of $1,175 per ounce.

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