DJIA chart reading : upside biased with possible pullback.
FTSE chart reading : side way range bound.
DAX chart reading : side way range bound little downside biased.
Hang Seng chart reading : side way range bound.
Japan Manufacturing Shrinks Most Since 2009 in First Sign of Quake Impact (Source: Bloomberg)Japan’s manufacturing shrank this month for the first time since the nation was pulling out of its last recession two years ago, underscoring forecasts for the economy to shrink in the aftermath of the March 11 earthquake.
Japan Urged to ‘Seize This Moment’ or Face Another Lost Decade (Source: Bloomberg)
Japan begins forging a road map for recovery from its worst postwar disaster next month, a process that may determine whether it sheds the legacy of the 1980s bubble or has a third “lost decade” of stagnation and deflation .
Bank of Korea's Vacant Policy Seat Adds Deadlock Risk to War on Inflation (Source: Bloomberg)
The longest vacancy on the Bank of Korea’s monetary board since 1998 raises the risk of policy deadlock as officials struggle to tame inflation while maintaining growth.
Portugal Can Meet 2011 Bond Redemptions as Debt Matures, Costa Pina Says (Source: Bloomberg)
Portugal is in condition to meet its debt maturities this year, Secretary of State for Treasury and Finance Carlos Costa Pina said.
U.S. Companies Add 201,000 Jobs in Sign Labor Market Recovering, ADP Says (Source: Bloomberg)
Companies in the U.S. added more workers in March, a sign the labor market may be strengthening, data from a private report based on payrolls showed today. Employment increased by 201,000 workers in March after a revised 208,000 gain in February, according to figures from ADP Employer Services. The median estimate in the Bloomberg News survey called for a 208,000 gain.
Fed's Stimulus Exit May Not Wait for Global Turmoil to Pass, Bullard Says (Source: Bloomberg)
The Federal Reserve may need to begin an exit from record levels of monetary accommodation even amid global uncertainties in Japan and the Middle East, St. Louis Federal Reserve President James Bullard said. “The process of normalizing policy, even once it begins, will still leave unprecedented policy accommodation on the table,” Bullard said at a London dinner hosted by UBS AG, Switzerland’s biggest bank. Fed policy makers “may not be willing or able to wait until all global uncertainties are resolved to begin normalizing policy.”
Sovereign Rating Announcements Add to Europe Instability, IMF Paper Says (Source: Bloomberg)
Sovereign rating announcements in Europe have had “significant” spillover effects in the region, revealing their potential to stir financial instability, International Monetary Fund economists said in a study.
Consumer Confidence in Euro Region Declines More Than Economists Forecast (Source: Bloomberg)
European confidence in the economic outlook worsened in March, after surging energy costs and Japan’s earthquake clouded global growth prospects.
Global Economic Recovery Facing `Considerable' Risks, IMF's Shinohara Says (Source: Bloomberg)
The global economic recovery faces “considerable downside risks,” said Naoyuki Shinohara, deputy managing director of the Washington-based International Monetary Fund.
Optimism Among U.S. Chief Executives Surpasses Pre-Slump High, Survey Says (Source: Bloomberg)
Optimism among U.S. chief executive officers surpassed the highest level reached before the recession as more business leaders projected increased sales, investment and hiring, a survey showed.
Hoenig Says Fed Shares Blame for Higher Commodity Prices; Urges Tightening (Source: Bloomberg)
The Federal Reserve’s “highly accommodative” monetary policy is partly to blame for rapidly increasing global commodity prices, said Kansas City Fed President Thomas Hoenig, who called on colleagues to raise the benchmark interest rate toward 1 percent soon.
Yen Falls a Sixth Day as U.S. Job Optimism, Stock Gains Curb Safety Demand (Source: Bloomberg)
The yen fell for a sixth day against the dollar, the longest streak since November, before a report that economists say will show the U.S. job market continues to improve.
Japanese Stocks Rise as Jobs Point to U.S. Economic Recovery; Toyota Jumps (Source: Bloomberg)
Japanese stocks rose for a second day on optimism signs of a strengthening recovery in the U.S. will boost exporters.
Australian Dollar Touches 10-Month High Against Yen Ahead of Retail Sales (Source: Bloomberg)
Australia’s dollar reached a 10- month high versus the yen before government reports today forecast to show the economy is expanding.
Japan Radiation Found in Washington State Milk as U.S. Steps Up Monitoring (Source: Bloomberg)
Radiation “far below” levels that pose a risk to humans was found in milk from Spokane, Washington, the first sign Japan’s nuclear accident is affecting U.S. food, the Obama administration said.
Japan’s Government Bonds May Rise as Radiation Concern Spurs Safety Demand (Source: Bloomberg)
Japan’s government bonds may rise, snapping yesterday’s loss, as the nation’s ongoing nuclear crisis sustains demand for the relative safety of debt.
Standard & Poor's downgrades Greece, Portugal
LISBON/ATHENS, March 29 (Reuters) - Debt-stricken Greece and Portugal suffered new blows on Tuesday after Standard & Poor's downgraded their credit ratings on possible risks to bondholders, sending their borrowing costs sharply higher.
The downgrade by S&P, which cited risks that the countries' debts to a new European bailout fund would be repaid before bond investors, left Portugal's rating one notch above junk and Greece's creditworthiness below that of Egypt.
Ecuador sees $7 bln investment in five mines
QUITO, March 29 (Reuters) - Ecuador expects companies including Canada's Kinross Gold to invest $7 billion in gold and copper projects in the next seven years, as the OPEC member tries to diversify its economy by encouraging mining.
Natural Resources Minister Wilson Pastor said on Tuesday five projects will be signed in the next few months.
Kazakhstan to toughen ecology laws for miners
ASTANA, March 30 (Reuters) - Kazakhstan will toughen laws to reduce waste in its key mining sector, the country's environment minister said, in a move that will require some of the world's leading metals miners to spend more on treating their waste.
Environmental Protection Minister Nurgali Ashimov told Reuters the stricter laws, ordered personally by President Nursultan Nazarbayev, would give mining firms between two and three years to work out and finance waste utilisation plans.
FOREX-Yen broadly weaker; investors contrast rate outlooks
NEW YORK, March 30 (Reuters) - The yen slipped to a 10-month low versus the euro and was broadly weaker on Wednesday as recent hawkish comments from euro zone and U.S. officials contrasted with Japan's loose monetary policy stance.
"The new high in the Australian dollar combined with weakness in yen suggest that the carry trade is building momentum," said Camilla Sutton, chief currency strategist at Scotia Capital in Toronto. "This could put significant weakening pressure on yen, but we would not be surprised to see some dollar/yen downside (yen strength) on the back of ongoing repatriation in late in April."
Flooding in Thailand kills 11, strands thousands of tourists
BANGKOK, March 30 (Reuters) - Severe flooding in southern Thailand has killed 11 people and stranded thousands of tourists on
resort islands, authorities said on Wednesday, predicting more rain and issuing warnings for possible mudslides.
"More rain is expected in the next few days."
Equities bounce as optimism outweighs concerns
LONDON, March 30 (Reuters) - World stocks bounced back on Wednesday, driven by optimism about potential gains in the coming
quarter and setting aside lingering concerns about Japan's nuclear crisis and turmoil in the Arab world. "The two big
geopolitical stories -- the aftermath of the earthquake in Japan and unrest in Libya -- remain vary much in play but with the
backdrop not changing significantly on a day-by-day basis, it does seem as if markets are now keen to try and turn the page,"
said Ben Potter, an analyst at IG Markets.
Yemenis hoard food, worried over political crisis
SANAA, March 29 (Reuters) - Yemenis worried the political crisis over President Ali Abdullah Saleh's rule will deteriorate
have begun hoarding basic foods like wheat and sugar, driving prices higher, the trade minister said.
Hisham Sharaf Abdalla told Reuters retail prices for wheat had risen by more than 15 percent in the past month as a standoff
wears on, while other basic foods had gone up by 10 to 15 percent.
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