DJIA chart reading : side way range bound little upside biased.
FTSE chart reading : side way range bound little downside biased.
DAX chart reading : side way range bound downside biased.
Hang Seng chart reading : side way correction range bound little downside biased.
Japanese stocks fall on nuclear crisis, euro stabilises
HONG KONG, March 29 (Reuters) - Japanese shares fell on Tuesday as workers struggled to contain the world's worst nuclear crisis in decades, while the euro steadied after comments from the European Central Bank's chief bolstered the view that it would raise interest rates soon.
"TEPCO is the ground zero of the problem," said Adrian Foster, head of financial markets research Asia-Pacific at Rabobank International in Hong Kong.
GLOBAL MARKETS: Japanese stocks fall, euro steadies
HONG KONG, March 29 (Reuters) - Worries over the quake-hit nuclear plant and its impact on corporate earnings knocked Japanese shares lower on Tuesday, while the euro steadied after comments from the region's central bank chief bolstered the view of an interest rate hike.
Plutonium found in soil at the Fukushima nuclear plant added to anxiety over Japan's protracted fight to contain the world's worst atomic crisis in 25 years.
Japan May Scrap Company Tax Cut, Lift Household Levies (Source: Bloomberg)
Japan’s ruling party is considering abandoning a proposed corporate-tax cut and boosting levies on individuals to help pay for earthquake reconstruction and reduce the need to step up bond sales.
U.S. Consumer Spending Increases More Than Forecast (Source: Bloomberg)
Americans increased spending more than forecast in February as incomes climbed, easing concern that rising food and fuel costs might derail the consumer demand that makes up 70 percent of the U.S. economy.
U.S. Crisis Was Worse Than 1930s, Ex-Fed Governor Mishkin Says: Tom Keene (Source: Bloomberg)
The U.S. financial crisis that started in 2007 was “worse and more complicated than the one that caused the Great Depression,” former Federal Reserve Governor Frederic S. Mishkin said today. While the economy skirted another depression, “we still have some serious problems,” such as credit availability for small businesses, Mishkin said on Bloomberg Television’s “Surveillance Midday” with Tom Keene. Mishkin, who served on the Fed Board from September 2006 to August 2008, and as research director at the Fed Bank of New York, is a professor of economics at Columbia University in New York.
Fed's Evans Says Recent Economic Data Not Enough to Alter Stimulus Policy (Source: Bloomberg)
Federal Reserve Bank of Chicago President Charles Evans said recent reports indicating a more sustainable economic expansion won’t alter the central bank’s plan to purchase $600 billion in U.S. Treasuries through June.
South Korea's Current-Account Surplus Widens in February as Exports Grow (Source: Bloomberg)
South Korea’s current-account surplus widened in February from an 11-month low in January amid sustained export growth and a narrower travel deficit.
New Zealand Posts First Trade Surplus in Eight Months as Exports Jump 17% (Source: Bloomberg)
New Zealand posted its first trade surplus in eight months in February as record-high commodity prices boosted exports of milk powder and lumber, while an aircraft purchase raised imports more than economists forecast.
Portuguese Bailout Costs More Than Money Alone: Matthew Lynn (Source: Bloomberg)
Is it 50 billion euros? Or perhaps 70 billion euros? The cost of bailing out Portugal varies according to who makes the calculation. No one will know the real price until officials from the International Monetary Fund and the European Central Bank tell us.
Pending Sales of U.S. Existing Homes Unexpectedly Climbed 2.1% in February (Source: Bloomberg)
A gain in the number of Americans signing contracts to buy previously owned homes in February failed to make up for the ground lost a month earlier, a sign the U.S. housing market has yet to join the economic recovery.
Libyan Rebels Advance; France, U.K. Say Qaddafi ‘Must Go’ Now (Source: Bloomberg)
Libya government troops dug in with tanks to hold the line in Sirte, Muammar Qaddafi ’s hometown and a regime stronghold, as rebel forces advanced with help from NATO’s air strikes.
Yen Near One-Week Low Versus Dollar Before U.S. Jobs, French Spending Data (Source: Bloomberg)
The yen traded within 0.1 percent of a one-week low against the dollar before reports this week that economists said will show U.S. employers added jobs and French consumer spending rebounded.
Japanese Stock Futures Fall Amid Radiation Concern; Australian Shares Drop (Source: Bloomberg)
Japanese stock futures fell amid concern the nation is struggling to prevent a meltdown at a nuclear plant after potentially fatal radiation levels were detected nearby. Australian stocks declined.
Asian Stocks Fall on Japan Nuclear Situation, Earnings That Miss Estimates (Source: Bloomberg)
Asian stocks fell, dragging down the benchmark regional index for the first time in three days, as radiation hampered efforts to cool crippled nuclear reactors in Japan, and as company earnings missed analyst estimates.
Fed unlikely to extend QE2, officials say
CHICAGO, March 25 (Reuters) - The Federal Reserve is unlikely to extend its bond-buying program with the U.S. economy now on firmer footing, several Fed officials said on Friday, with one inflation hawk saying the Fed will have to raise rates and sell assets in the "not-too-distant future."
Philadelphia Fed Bank President Charles Plosser, the inflation hawk, for the first time detailed his preferred approach to reversing the Fed's easy money policy to prevent future inflation, driving the 10-year U.S. Treasury yield higher on Friday.
China c.bank - money, credit meeting policy aims
BEIJING, March 28 (Reuters) - China's central bank said on Monday that money and credit growth are moving in line with policy goals, but it will maintain a tighter policy stance to put a lid on inflation.
"China's money and credit situation is moving in the intended direction under macro-controls, but it faces a complex economic and financial environment," the central bank's monetary policy committee said in a statement after its first-quarter meeting.
FOREX-Euro dips as Merkel loss adds to downside risks
LONDON, March 28 (Reuters) - The euro eased on Monday, heading into a cluster of Asian demand and technical support, after Germany's ruling party lost a key state election, while hawkish comments by Federal Reserve officials lifted the dollar.
"It is a combination of setbacks to German Chancellor Angela Merkel's party and the dollar being lifted by those comments from Fed officials which led some investors to short the euro," said Adam Myers, senior currency strategist at Credit Agricole.
German elections weigh on euro; stocks lower
LONDON, March 28 (Reuters) - The euro weakened on Monday after German Chancellor Angela Merkel's conservatives were routed in elections in a key state, while world shares eased back from their recent rally. "It is a combination of setbacks to German Chancellor Angela Merkel's party and the U.S. dollar being lifted by those comments from the Fed officials which led some investors to short the euro," said Adam Myers, senior currency strategist at Credit Agricole.
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