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Saturday, March 5, 2011

Bernanke and Trichet talked about in international markets last week

Saturday, March 5, 2011
U.S. Federal Reserve (Fed) Chairman Ben Bernanke, the rise in commodity prices, constitutes a danger to the U.S. economy, but this rise in reported results very likely would be temporary.
Bernanke, Senate Banking Committee in his speech,''Most likely, the recent rise in commodity prices, even though consumer price inflation to rise temporarily, and leads to a relatively modest,''he said.
Being a permanent increase in oil and other commodity prices will create a threat to economic growth and inflation striking Bernanke Fed that inflation expectations remain low, you may need to take action on future inflation expectations, the Fed said to be created.
Rapid decline in the past two months, the unemployment rate is encouraging, but the unemployment rate of 6 percent decline to normal levels will take''several years''Bernanke that point,''until you see the period of sustainable recovery in strong job creation can not think properly provided''he said.
Bernanke also answered questions from members of the House of Representatives Financial Services Committee, the House of Representatives Republicans are down and expenditures of $ 61 billion plan to grow 0.2 percent this year and next year will decrease by 0.1 percent said,''That means the loss of 200 thousand person's job, sois not trivial at all,''he said.
In the meantime, the Fed's 12 regions linked to it on the basis of economic data prepared according to the report''Beige Book''by the economic activity at the beginning of January and February, ranging from mild and moderate speed began to increase. In the report, retail sales in all regions except for two regions increased from a year earlier. Housing sector activity differed in the industry with sales and construction remained at low levels in all regions. Commercial real estate sector showed signs of improvement.
Improvement activities in manufacturing sector while the Fed's 11 regions, only St.Louis area due to the closure of some factories in the manufacturing sector recorded decrease. Manufacturers and retailers are striving to raise prices due to rising input costs, labor market conditions across the country continue to show modest improvement in the specified.
U.S. Department of Labor, non-agricultural employment in the United States, 192 in February, above expectations BINL increased, the unemployment rate of 8.9 percent a dropped announced. In February, the lowest level of the last two years, and who fell on top of the last three months, had levels of 9.8 percent unemployment rate in November.
Ministry of Commerce of 0.2 percent in January, consumer spending, personal incomes increased by one per cent reported. Small increase in expenditures, total spending increased by 7.4 percent in January compared to December of 2008 increased to $ 10.5 trillion. In contrast, the effect of social security tax indirimindeki 2 percent decline in personal income, increased by 1 percent in January.
Factory orders 3.1 percent in January, the Ministry also announced that with the increase in above expectations.


European Central Bank (ECB) benchmark interest rate unchanged in May 2009 led by 1 percent level.
ECB President Jean-Claude Trichet, ECB Euro Zone is ready to move immediately to higher inflation güçlenmemesi reported. Trichet, Euro Zone inflation''in the light of rapid rise in ECB interest rate meeting next month is probably the elevation''he said.
The Commission's euro zone growth forecast to 1.5 percent this year from 1.6 'or 1.7 percent, and the EU's growth forecast from 1.8 to upgraded.
Euro region inflation to 2.2 percent at the end of this year and the EU average level of 2.5 EU Commission waiting for emergence, the member countries to carry out structural reforms and budgetary discipline wanted to stay connected.
Eurostat, Euro Zone inflation level of 2.3 percent in the first month of the year in February, 2.4 percent reported climbed.
According to data from Eurostat, Euro Zone unemployment rate drop in the level of 10 percent passing last year, was 9.9 percent in January. In the same period, the EU's average unemployment rate of 9.6 percent from 9.5 percent to down.
International credit rating agency Fitch, the public debt crisis of 2011 in the euro region is a critical year in terms announced. If not meet the policy objectives and market expectations of further worsen the debt crisis in the Fitch warned that, if that is particularly inadequate in ensuring the consolidation of financial markets, debt payments will increase concerns about adequacy stressed.
International Credit Rating Agency Standard and Poor's (S & P), Portugal and Greece warns against possible cuts to a shout. S & P, Portugal's''A-'',''BB''in Greece, which confirmed the long-term credit ratings by the two countries''negative''outlook to shout in the credit monitoring, he said.
Chinese Prime Minister Vein Ciabo the next five-year period foreseen in the economy being the average annual growth of 7 percent, he said.
China's National People's Assembly (ÇUHM) vein in his speech at the annual meeting, the need to safeguard price stability in the next 5 years, strengthened macro-regulation was noticed. Ven, short-term arrangements in mind a combination of long-term development policies, domestic demand potential, large enough to carry the evaluation, so that consumption, investment and exports should be making important factors that accelerate economic growth, pointed out.
Active fiscal policy and stable monetary policy this year to apply sound recording Vein, is expected to increase by around 8 per cent of GDP, compared to last year the budget deficit decreased by 150 billion yuan, 900 billion yuan (136.36 billion dollars) being estimated, he said.
Currency exchange rate formation mechanism reform to continue China Yuan recurrent vein, strict control of capital inflows from abroad to China, taking the country to avoid the flow of''hot money''stressed.


The U.S. dollar in international currency markets against the major currencies, on Monday, the opening and closing value on Friday was as follows:

----------- --------- --------
Japanese Yen 81.78 82.3
Swiss Franc 0.9275 0.9257
Canadian Dollar 0.9758 0.9716

London foreign exchange market opened on Monday the euro at $ 1.3788, closing on Friday rose to $ 1.3985.
The same stock market opened on Monday at $ 1.6132 to $ 1.6267 at the close Friday was the British sterling.
New York Stock Exchange last week, closing Friday at $ 1,408.70 ounce price of gold rose to $ 1,428.20 this week on Friday.


0.72 percent yesterday in New York Stock Exchange Dow Jones Index in the U.S. (88.32 points), losing value, closed the week to 12,169.88 points. Standard and Poor's 500 Index on the same day 0.74 percent (9.82 points) decreased by 1,321.15 points, the Nasdaq Composite Index 0.50 percent (14.07 points) was down 2,784.67 points.
Throughout the week the Dow Jones index 0.5 percent, Standard & Poor's 500 Index and Nasdaq Composite Index 0.1 per cent 'value has appreciated.
Stock Exchange Merval Index of the Americas in Argentina also 0.21 percent, 0.63 percent and the Mexican Stock Exchange IPC Index Brazil Bovespa Stock Exchange Index fell 0.20 percent.
London Stock Exchange in Europe, the UK FTSE 100 Index yesterday 0.24 percent (14.70 points) decreased by 5,990.39 points, closed the week. Frankfurt Stock Exchange DAX Index in Germany, the last trading day of the week 0.65 per cent (47.06 points) fell, points to 7,178.90, the CAC-40 Index in France, the Paris Bourse at 1 per cent (40.55 points) lose value, closed down 4,020.21 points.
Italy, Milan Stock Exchange MIB Index FTSE Europe yesterday also 0.07 per cent, in Spain, Madrid Stock Exchange IBEX 35 Index fell 0.65 percent. AEX Amsterdam Stock Exchange Index rose 0.10 percent in the Netherlands.
In Asia, Japan, the Nikkei 225 Index Tokyo Stock Exchange the main indicator of 1.02 percent (107.64 points) closed the week increased by 10,693.66 points.
Thursday also 1.24 percent in Asia in Hong Kong Stock Exchange, Shanghai Stock Exchange Composite Index SE Index SE, 1.35 per cent and 1.36 per cent, 0.59 per cent of Thailand Stock Exchange, Indonesia Stock Exchange 1.38 percent, 0 percent of the Taiwan Stock Exchange , 53, of South Korea Stock Exchange 1.73 percent, 1.20 percent of the Australian Stock Exchange rose 0.79 percent and the Singapore Exchange, Stock Exchange of India fell 0.02 percent.


The ongoing events in Libya continues to put pressure on the oil market.
The International Monetary Fund (IMF) Managing Director Dominique Strauss-Kahn,''the increase in oil prices could damage growth in the global economy remains at this level for a long time,''he said.
Andrew Burns, Global Head of Economics Department of the World Bank in developing countries, continued high oil prices significantly affect the long period of time, but since the financial crisis derail the landing toparlanmalarını strongly that it was impossible, he said.
International Energy Agency (IEA), $ 100 at the level of oil prices this year seyretmesinin for Economic Cooperation and Development (OECD) countries announced that you can find the cost of 900 billion dollars.
European Union, EU Commissioner responsible for Energy, Guenther Oettinger, Libyan President Muammer Gaddafi's government said the country had lost control of the oil and gas fields. Gaddafi is the country's oil fields and ports are safe and under control,''is, however,''the companies said they fear an armed gang.
Libyan National Oil Company President Şükrü Gane, events in the country because of Libya's foreign oil workers as a result of separation of the country of 1.6 million barrels of daily oil production is falling by 50 percent, he said. Libya after the country's worst energy crisis in decades led to the events that expresses Gane, events continued supply problems in oil prices, Libya's oil markets to over $ 130 per barrel çıkaracağı warned.
Meanwhile, U.S. crude oil price per barrel of $ 2.51 for the month of April by winning the last trading day of the week delivery, the highest level since the week of September 2008 closed at $ 104.42. Yesterday during operations of up to $ 104.94 per barrel price of oil rising U.S. crude had been trading at $ 106.91 on September 29, 2008.
London Brent crude oil price per barrel Monday in the month of April delivery rose 1.18 dollars closed the week at $ 115.97.
London Brent crude oil last week to 16.91 U.S. dollars price difference between crude oil this week fell to $ 11.55.

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