Wednesday, September 30, 2009
Never shy about showing off her assets, Sophie Monk was out frolicking around a private Southern California beach to kick off her Sunday (September 27).
The Australian bombshell looked fabulous in her skimpy string bikini as she posed for a few pictures, during which time her top just so happened to pop off.
Living the good life on the west coast as of late, Miss Monk was out and about in Beverly Hills the previous evening - sporting a brand new bob hairdo with a sheer black dress and turquoise heels.
Today Latest Market Update :-
Forex: ADP employment lost 254k jobs; GBP/USD falls to 1.6050
After reaching 1.6125, intra-week high, ahead the ADP employment report, GBP/USD has fallen following worst than expected data in September, pair has reacted down and it is trading below 1.6050.
ADP employment in United Stated has lost 254k jobs in September, worst than 200k decreases expected by market but below of 298k losses in August.
Current appreciation is corrective in nature, according to Karen Jones, technical analyst at Commerzbank, who warns about the possibility of a reversal from current levels: "We look for near term corrective rebounds to ideally remain capped by 1.6110/50 (break down point for the top pattern) and while capped here the immediate outlook remains negative."
On the downside, Jones sees the Pound targeting 1.5690/10: "We continue to target initially 1.5690/10 (Fibonacci retracement and the 55 week ma) and then 1.5270. Slightly longer term it should be noted that the top measures to 1.5135."
Tuesday, September 29, 2009
Oil hovers near $67 in Asia as stocks rebound :-
SINGAPORE (AP) -- Oil prices hovered near $67 a barrel Tuesday in Asia as regional stock markets rebounded and investors awaited a slew of data on the U.S. economy.
Benchmark crude for November deliver was up 14 cents at $66.98 by late afternoon Singapore time in electronic trading on the New York Mercantile Exchange. The contract rose 82 cents Monday to settle at $66.84.
Regional stock markets, often a barometer of optimism about economic prospects, rebounded from a sharp fall Monday after corporate takeovers boosted Wall Street to a higher close.
Also pushing up oil prices was the West's recent stern warning to Iran over a previously unknown nuclear facility. About 20 percent of the world's crude moves through the Straits of Hormuz on Iran's southern coast and any showdown between the West and Iran could threaten that route.
"Investors are still buying on dips around the mid-$60s level. Most people are reasonably confident that over the next 12 months oil is going to move higher," said Ben Westmore, energy analyst with National Australia Bank in Melbourne. "The gains in the U.S. equity markets also helped."
Westmore expects oil will average $80 a barrel in the third quarter of 2010.
"We're expecting a long recovering period, not a V-shaped recovery, but over 2010 we expect positive outcomes in the big developed economies, and oil demand will pick up," he said.
In the U.S., the most closely watched indicator this week will be the Labor Department's monthly jobs report on Friday. Reports also are due out on home prices, manufacturing, consumer confidence, construction spending and factory orders.
In other Nymex trading, heating oil fell 0.55 cent to $1.69 a gallon. Gasoline for October delivery was steady at $1.63 a gallon.
In London, Brent crude rose 10 cents to $65.65 the ICE Futures exchange.
Monday, September 28, 2009
Asian stocks fall on weak US data, strong yen :-
SEOUL, South Korea (AP) -- Asian stock markets sank Monday as the yen surged to a nine-month high and disappointing data from the United States undermined hopes of a fast economic recovery.
Reports on manufacturing and home sales released Friday stoked concerns over recovery prospects in the world's largest economy and pushed U.S. stocks lower for a third day.
The U.S. economy is "not recovering as fast as we thought," said Jackson Wong, vice president at Tanrich Securities in Hong Kong. The strengthening Japanese yen, he added, "brings negative sentiment to other markets."
Japan's Nikkei 225 stock average was Asia's worst performer, falling 267.65, or 2.6 percent, to 9,998.33. Hong Kong's Hang Seng index declined 348.58, or 1.7 percent, to 20,675.82.
South Korea's Kospi fell 0.9 percent while Singapore's benchmark declined 1.2 percent. China's Shanghai index surrendered early gains to fall 0.4 percent.
In New York on Friday, the Dow Jones industrial average fell 42.25, or 0.4 percent, to 9,665.19, its third straight decline. Broader indices also fell. Major European markets were mixed.
The dollar fell against the yen, trading at 89.47 Monday compared with 89.60 late Friday in New York. At one point, the greenback declined to the 88.22 for the first time since December. The euro fell to $1.4587 from $1.4698.
"The too strong yen, it's not good for their economy," said Conita Hung, head of equity markets with Delta Asia Financial Group in Hong Kong.
A stronger yen can hurt Japanese exporters by reducing the value of overseas profits when sent back home and can make their products less price competitive. Many Japanese exporters have based their earnings forecasts on the assumption that $1 buys an average of 95 yen.
Japan's new government, which took power this month, has expressed little concern about a stronger yen and even says it's potentially a good thing as it can boost consumer spending by making foreign goods and raw materials cheaper.
Finance Minister Hirohisa Fujii on Monday said exchange rate stability was desirable but reiterated his opposition to intervening in foreign exchange markets to weaken the yen's value, according to Kyodo news agency.
Oil prices, meanwhile, traded lower. Benchmark crude for November delivery fell 49 cents to $65.555 a barrel in electronic trading on the New York Mercantile Exchange. On Friday, the contract added 13 cents to settle at $66.02.
Sunday, September 27, 2009
Commodities sidelined to a tad lower :-
Plenty of Forex volatility: Canadian dollar, Mexican peso and Sterling the weakest, South Korean won, Kiwi and Norway the strongest. As well as banking jitters, comments from the Bank of England’s Mervyn King that sterling weakness would help to rebalance the economy away from (nasty) financial services and help exports (what? Vauxhall cars?) pushed Cable down to $1.5917 and EUR/GBP £0.9193 (highest since April fool’s day). The US dollar was fairly weak too, taking the Euro up to $1.4845, the Yen to 89.96 and the Swiss franc to 1.0170 (best since July 2008). Short-dated yields dipped, allowing many money market futures contracts to post new all-time highs, the lowest being one-month US TBills at 0.02%, three-months at 0.09%. Major yield curves flattened slightly, longer-dated Treasury yields dropping further because they are not constrained by the zero level. Equity indices gave up half or all of last week’s gains, Mexico, Hong Kong and Shanghai down 4.5% and the hardest hit. Commodities sidelined to a tad lower.
Political and Economic Developments :-
The FT reports that US syndicated loan losses rose to $53 billion so far in 2009, greater than the cumulative losses since 2001, according to the Shared National Credit Program, a body set up in 1977 to monitor loans over $20 million from federally regulated institutions - banks and the shadow banking system. Quality has deteriorated badly, because of poor underwriting as well as weak economic conditions, so that 11.5% of bank loans and 33% of quasi-banks’ advances are now bad debts. Hedge and pension funds, securitisation vehicles and their ilk are hanging on to 47% of problem loans while accounting for just 21% of lending. Assets rated as ‘special mention’, ‘substandard’, ‘doubtful’ and ‘loss’ (the four categories of fragile loans) of this $2.9 trillion market stands at $642 billion or 23% of the portfolio, almost double last year’s 13%.