Syd 23:12 GMT March 15, 2010
Talk the new emerging economic powerhouses are looking to increase the percentage of their reserves in gold rather than relying completely on international government paper
GVI Forex Blog 15:33 GMT March 15, 2010
Bearish price action on GBP/USD, a daily chart of which is shown, as of Monday (3/15/2010) morning New York session, has erased much of the gains that the pair made late last week.
Chart of the Day - 3/15/2010 â€“ GBP/USD
GVI Forex Blog 15:23 GMT March 15, 2010
Mar 15 (global-view.com) UPCOMING DATA HIGHLIGHTS: Tuesday will see the release of the German ZEW economic survey. It is not seen as being as accurate as the IFO survey due next week. Eurozone CPI (HICP) is due as well. In North America
GVI Forex- Data Outlook for March 16, 2010
GVI Forex Blog 11:09 GMT March 15, 2010
Recent UK economic data have painted a mixed picture, with the sharp fall in manufacturing production and exports in January contradicted by strong improvements in some of the business surveys â€“ notably, the latest manufacturing and services sector PMIs. This weekâ€™s reports should hopefully bring a little more clarity,
Economics Weekly - UK budget deficit set to undershoot Chancellorâ€™s forecast
Bris SH 10:53 GMT March 15, 2010
Entry: Target: Stop:
GVI Forex Blog 10:04 GMT March 15, 2010
10:00 GMT- Mar 15 (global-view.com) Markets seem to be reorienting themselves to start the new week. Key events at the start of the period will be the FOMC decision Tuesday and then the BOJ meeting...
Daily GVI Forex Forex View- New Directions?
Syd 06:16 GMT March 15, 2010
Oil prices may challenge 2010 peaks near $84 a barrel this week on expectations higher demand from China will likely offset weaker growth rates in developed economies, a CNBC poll of analysts and traders found.
Five out of 11 respondents, or 45 percent, expect gains this week, four forecast steady prices while two called for a decline. Last week, Nymex crude were little changed -- in line with CNBCâ€™s previous poll -- falling 0.3 percent to settle at $81.24 a barrel on Friday.
"I am bullish on crude and products due to robust China demand, the U.S. economic recovery on the near horizon and fund investments in commodities," said Chris Mennis,
President of New Wave Energy LLC. "I would not be surprised by a breakout over the $83.95 high achieved last January 11."
Robust demand from China, the worldâ€™s second largest energy consumer after the U.S., has contributed to a near 80 percent rally in crude prices last year.
Data released last week from Chinaâ€™s National Bureau of Statistics continued to show strong demand despite recent measures from the central government to cool overheating sectors of the economy by limiting the availability of credit.
Amongst the standouts in the data, China's refinery crude throughput rose to a record high of 8.32 million barrels a day in February.
Meanwhile, statistics from the consumer nations energy watchdog International Energy Agency reinforced Chinaâ€™s demand picture: demand surged by an "astonishing" 28 percent in January compared with the same month a year earlier, the IEA said.
Emerging Versus Developed Markets
The IEA also noted that demand for oil this year would be underpinned by rising needs from emerging markets, with half of all growth coming from Asia. Meanwhile, demand in developed countries would fall by 0.3 percent, according to the IEA. "Demand growth is still picking up in emerging markets but I think the pace of increase remains slower despite the fact that China and Brazil have become among the only bright spots for the global auto industry,â€ť said Rachel Ziemba, Senior Research Analyst, China and Oil Exporting Economies at Roubini Global Economics.