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RecoveryTitle:
Inflation in Europe accelerates more than expected
The 17-nation economy released its Consumer Price Index (CPI) showing that the cost of living in the region accelerated more than expectations to the fastest pace in more than two-years over the month of March.
Inflation, measured by the annual CPI index rose by 2.7%, from the previous and the expected 2.6%, the EU statistics office said today in a statement. The rate continues to hover above the desired rate set by the ECB for price stability at 2.0 percent.
The ECB hiked rates last week by quarter percentage point, aiming to limit the increase in prices, which was forced by rising energy cost and prevent it from feeding into wage demands.
Analysts expect that the bank will continue to hike rates, at least twice this year, reaching 1.75 percent by the end of this year, in order to ...
Title:
Windsor Brokers - Short Term Technical Analysis for Majors (07:00 GMT)
EUR/USD
Strong resistance at 1.45 zone continues to cap, as yesterday’s fresh strength from 1.4365 correction low, failed again to break higher. Market is currently trading just under 1.45 level, with near-term studies still supportive for renewed attempt higher. Above 1.4518 to target 1.4535/79. Corrective dips should be contained by 1.44 zone to keep bulls in play.
Res: 1.4475, 1.4494, 1.4500, 1.4518
Sup: 1.4450, 1.4400, 1.4365, 1.4300
http://mediaserver.fxstreet.com/Reports/325f5b3f-7a7d-4768-8193-afec3573778f/eurusd_20110415070630.gif
GBP/USD
Returns to strength after easing from 1.6426 highs was contained at 1.6230 zone. Fresh strength broke above recent consolidation ceiling at 1.63 zone, turns focus back towards 1.6400/26, with 1.6382 seen so far. Break above 1.6426 is sought ...
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The Chinese Economy records unexpected economical growth despite critical inflation rates
China's Gross domestic product expanded faster than expected during the first quarter of this year, while the nation is unaffected by its largest trading neighbor's Crisis, Japan.
China's real GDP (YoY) expanded 9.7% in the first three month of the year, compared with a previous expansion 9.8% in the 4th quarter of 2010, whereas the actual reading is higher than analyst's forecasts that referred to 9.4%.
This fast pace economical expansion is a result of improved exports rate in china, as the demand for Chinese products have increased during the period due to the Asian economies witness a phase of recovery. Further, the increase of row materials and energy prices enabled the Chinese companies to generate more profits.
The internal consumer demand elaborated by the increase in retail ...
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Euro dips but near 15-month high, further losses seen limited
(Reuters) - The euro dipped but stayed within sight of a 15-month peak against the dollar on Friday, with further losses expected to be limited given the diverging outlook for monetary policy in the euro zone and the United States.
Not helping the dollar, several top Federal Reserve officials have sounded relaxed about inflation despite the recent surge in oil prices, adding to expectations the Fed will not cut short its $600 billion debt-buying program.
The euro, in contrast, remains supported by the prospect of higher interest rates in the euro zone despite comments by Germany that Greece may need to restructure its debt.
"When you are talking about the relative yield play, it probably does favor the euro," said Andrew Robinson, FX analyst for Saxo Capital Markets in Singapore.
"I ...
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Oil steady as China growth holds, eyes inflation
(Reuters) - Brent crude held steady above $122 a barrel on Friday after China's economic growth beat forecasts despite government efforts to cool expansion and put the brakes on inflation.
Strong growth in the world's second-largest oil consumer is bullish for fuel demand, but may stoke concern that Beijing will tighten monetary policy again in moves that could slow consumption.
Prices were also supported by nagging worries that more supply in the Middle East and Africa could be at risk as fighting in Libya continued.
ICE Brent crude for June was up 10 cents at $122.10 a barrel by 0503 GMT (1:03 a.m. EDT) after gaining as much as 57 cents earlier.
U.S. crude futures for May rose for a third day to $108.27 a barrel, up 16 cents.
"With CPI above the government's desired levels, domestic ...
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Fed hawks look for exit, doves in no rush
(Reuters) - Federal Reserve officials differed on Thursday over the urgency of withdrawing monetary stimulus on Thursday, with some saying inflation is in check despite oil price rises while others warned of risks if the central bank drags its feet.
The recent surge in oil prices is no prelude to broader price increases that would force the U.S. Federal Reserve to raise interest rates, two of the policy hawks, Minneapolis Fed President Narayana Kocherlakota and Fed Board Governor Elizabeth Duke, said in speeches.
Both officials are viewed as toward the center of the spectrum of Fed officials and their comments appear to reflect the consensus opinion at the Fed.
The Fed will "eventually" sell assets and raise rates to head off inflation, but "right now there's not really much sign of ...
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Fed mustn't lag in reacting to inflation: Lacker
(Reuters) - A top Federal Reserve official on Thursday warned that the U.S. central bank should not be too slow to react to tighten financial conditions in a solidly recovering economy.
Businesses have so far absorbed price increases from energy products and commodities, suggesting they believe the Fed will keep inflation in check, Richmond Federal Reserve President Jeffrey Lacker said in remarks prepared for delivery at the University of Baltimore.
"The responsibility of the (Fed's policy-setting) Federal Open Market Committee is to validate these expectations by conducting monetary policy in such a way that inflation does not accelerate," he said.
Lacker, not a voter on the FOMC this year, is seen as one of the strongest anti-inflation hawks on the panel.
The Fed is not expected to ...
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Analysis: U.S. economy hits soft patch, jobs to underpin growth
(Reuters) - In an echo of early 2010 when the U.S. recovery stumbled, the world's biggest economy appears to have slowed sharply at the start of this year.
A combination of bad weather and rising gasoline prices undercut activity and produced a string of weak economic data, leading some big banks to halve their growth forecasts.
Though economists are anxious about the unexpected slackening, they largely remain confident that the lull will prove just a soft patch and they still expect a strengthening jobs market to revive growth in the next quarters.
"It does look like (first-quarter) growth will be in the neighborhood of 2 percent. There has been a steady dialing down of expectations," said Robert Dye, senior economist at PNC Financial Services in Pittsburgh.
"We are facing increased ...
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IMF's Shinohara warns strong risks to Japan outlook
(Reuters) - Risks to Japan's economy are firmly to the downside with very high uncertainty about the nuclear crisis and power shortages, a senior IMF official said, suggesting further cuts to the country's growth forecast.
Recent yen declines may hurt the economy by pushing up import costs, but only for a few months until output starts to recover from last month's devastating earthquake, said Naoyuki Shinohara, deputy managing director of the International Monetary Fund.
"There's very high uncertainty on Japan's outlook. The forecast we issued is one for the time being, based on the assumption that power shortages and supply chain disruptions will be resolved two to three months from now," Shinohara said.
"If power shortages are prolonged or if the situation at the nuclear plant ...
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