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China to allow direct Shenzhen, Hong Kong yuan lending: report
(Reuters) - China will start a pilot project to allow Hong Kong banks to lend yuan directly to Shenzhen firms and vice visa, Chinese Internet portal Sina.com said on Thursday, citing a government document.
Direct yuan lending will be an important link between China's onshore and offshore yuan markets and will deepen financial reforms in Shenzhen, a former fishing village that has emerged as one of the China's most affluent cities in the past three decades.
Sina.com, citing a Shenzhen municipal government document, said the direct loan program has received state approval and low-cost yuan loans from Hong Kong will be used mainly to develop the Qianhai zone in Shenzhen.
The Shenzhen government was not immediately available for comment.
Firms and banks registered in the Qianhai zone, an ...
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Euro, shares firm after recent fall; Europe debt eyed
(Reuters) - Asian shares eked out small gains and the euro inched higher on Thursday, reflecting lingering worry over sovereign funding for troubled euro zone economies Spain and Italy.
With a lack of strong follow-through buying in Asia from gains in global stocks on Wednesday and investors wary ahead of an Italian bond sale later in the session, European equity markets were likely to start mixed.
Financial spreadbetters predicted major European markets .FTSE .FCHI .GDAXI would open between 0.2 percent lower and 0.2 percent higher. U.S. stock futures were up 0.3 percent. .EU .L .N
MSCI's broadest index of Asia Pacific shares outside Japan .MIAPJ0000PUS edged up 0.3 percent, having earlier hovered near a 10-week low hit on Wednesday, as strong Australian employment data helped improve ...
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Technical analysis of the EUR/JPY pair on April 10th, 2012
Commentary of the EUR/JPY pair :
The pair EUR/JPY just faked a return above 107 and found resistance on 107.50.
All indicators are bearish.
The price is now far from its former bullish slant (purple line).
We continue to advise short positions as far as 108 is resistance.
The breakout of 106 will give a new sell signal and open the way towards 105.
In case of return above 108, we will wait the breakout of 109 to advise long positions.
See the previous analysis of the EUR/JPY pair of April 9th, 2012
EUR/JPY Analysis
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Obama healthcare law could sharply worsen U.S. deficits: study
(Reuters) - President Barack Obama's healthcare law could sharply exceed its cost-savings targets and add up to $530 billion to the federal budget deficit, a leading authority on U.S. government benefit programs said on Tuesday.
A study by Charles Blahous, a George Mason University research fellow and the Republican trustee for the Medicare and Social Security entitlement programs for the elderly, challenges the administration's contention that the 2010 law would better keep healthcare costs in line.
Known as the "Affordable Care Act," or "Obamacare," the measure to expand health insurance for millions of Americans is considered Obama's signature domestic policy achievement.
The Supreme Court is currently weighing whether Congress overstepped its authority to regulate commerce in ...
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Technical analysis of the EUR/JPY pair on April 9th, 2012
Commentary of the EUR/JPY pair :
The pair EUR/JPY has validated on friday the breakout of the support at 170, giving us a new sell signal.
All indicators are bearish.
The price is now far from its former bullish slant (purple line).
We continue to advise short positions as far as 108 is resistance.
The breakout of 106 will give a new sell signal and open the way towards 105.
In case of return above 108, we will wait the breakout of 109 to advise long positions.
See the previous analysis of the EUR/JPY pair of April 6th, 2012
EUR/JPY Analysis
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USD recovers lost ground
FUNDAMENTAL OUTLOOK at 0800 GMT (EDT +0400)
WORLD
The dollar had a surprise recovery overnight, and quickly reclaimed all ground lost to the euro after Friday’s weak US payrolls. However, flows were light as New Zealand, Australia, and Hong Kong remained closed. A stronger-than-expected China CPI failed to generate much interest, and allowed AUDUSD to take the news largely in its stride. Our core bullish dollar view is unchanged; we still expect the Fed to gradually back away from QE3 as other major central banks maintain an easier bias, likely ensuring outperformance of the US dollar over other majors this year.
Our analysts stress that the soft 120k US nonfarm payrolls print for March reflected ‘payback’ due to weather effects rather than fundamental weakening, with the earlier weather- ...
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Analysis: How low can U.S. jobless rate really fall?
(Reuters) - Gary Feeman has been searching for a job for 16 months. He's not ready to give up just yet, but the 60-year-old worries he is running out of options.
Feeman is among the more than 5 million Americans who have been out of work for more than six months and who represent the heart of the crisis in the labor market.
Their plight also poses a warning that U.S. unemployment may not drop back to its pre-recession levels and could be stuck higher than many policymakers expect.
Feeman, from Lancaster County, Pennsylvania, has sent out as many as 100 resumes. But the former maintenance director at a small amusement park in the area, has had only one interview in person. That was in January.
"I have tried everything under the sun," he said. "The frustrating thing to me is that when ...
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Despite recovery, U.S. public employees face more layoffs
(Reuters) - Since 2009, the city of Chesapeake, tucked up against the Great Dismal Swamp in southern Virginia, has cut its workforce twice. This summer, nearly three years after the recession ended, the city of 222,209 has plans for a third round of layoffs.
"We're not seeing the recovery we want to see," said Budget Director Steven Jenkins, who is hoping many of the 20 people will move into other jobs.
The city's revenues are still feeling the concussions from the housing market downturn, which started in 2006, even as overall growth in the United States has improved.
"We are heavily reliant on the residential real estate market," said Jenkins. In a recent assessment the average property value dropped 3.7 percent, which hits property taxes, and hurts government budgets. "The ...
Title:
Technical analysis of the EUR/JPY pair on April 6th, 2012
Commentary of the EUR/JPY pair :
The pair EUR/JPY has validated yesterday the breakout of 108, offering a sell signal.
Then, the pair found support on 107.
All indicators are bearish.
The price is now far from its former bullish slant (purple line).
We continue to advise short positions as far as 108.50 is resistance.
The breakout of 107 will give a new sell signal and open the way towards 106.
In case of return above 108.50, we will wait the breakout of 109 to advise long positions.
See the previous analysis of the EUR/JPY pair of April 5th, 2012
EUR/JPY Analysis
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