[aussiebear]

From a hotel in Beijing, China.

[aussiebear]

http://finance.yahoo...lindices?e=asia

[aussiebear]

http://money.cnn.com...s/morning_call/










http://www.kitco.com



http://www.kitconet....ase_metals.html

Energy futures

[aussiebear]

Up but it's looking a bit iffy. All Ords +0.5% with REITS taking a turn in the lead, +1.7%, IT next +1.1% and Gold/Consumer Staples +0.9%. No red sectors but Energy has the least gain, -0.2%.

[aussiebear]

Looks like this run is out of steam. All Ords just poked through resistance to close +0.5%. REITS was the strongest sector, +4.2% with Miners and Materials both +1.1%. Financials was the only red sector, -0.3%.

Limited interest in Asia: China -0.8%, Honkers +0.7%, India +0.1% and Nikkers flat.


On to UK/Europe:

Footsie




DAX




CAC 40

[aussiebear]

Australian Consumer Confidence Falls in November

Nov. 11 (Bloomberg) -- Australian consumer confidence fell for the first time since May after the central bank raised borrowing costs on Nov. 3 for a second straight month and signaled further “gradual” increases.

The sentiment index dropped 2.5 percent to 118.3 points in November, according to a Westpac Banking Corp. and Melbourne Institute survey of 1,200 consumers conducted between Nov. 2 and Nov. 8 and released today in Sydney.

[aussiebear]

China’s Lending Growth Slows as Officials Tighten Credit Terms

Nov. 11 (Bloomberg) -- China’s lending growth slowed in October as officials considered more steps to tighten credit standards and avert asset-price bubbles.

Banks extended 253 billion yuan ($37 billion) of new local- currency loans, compared with 516.7 billion yuan in September, the People’s Bank of China said today on its Web site. M2, the broadest measure of money supply, grew a record 29.4 percent from a year earlier, the central bank said.

The slowdown in credit follows a warning by the World Bank this month that China faces the danger of a surge in asset prices that could destabilize the economy. Policy makers may “soon” issue measures to limit the use of debt in real-estate purchases as a way to rein in price gains, Fang Xinghai, head of Shanghai’s financial services office, said this week.

[aussiebear]

Japan Machine Orders Rise More Than Expected

Nov. 11 (Bloomberg) -- Orders for Japanese machinery rose more than twice the pace economists estimated in September, signaling that a recovery in the world’s second-largest economy may be sustained.

Orders, an indicator of business investment in three to six months, climbed 10.5 percent from a month earlier, the Cabinet Office said today in Tokyo. The median estimate of 25 economists surveyed by Bloomberg was for a 4.1 percent increase.

[aussiebear]

Power Being Restored After Outage Hits Half of Brazil

Nov. 11 (Bloomberg) -- Power is being restored in Brazil after an outage at a dam providing 20 percent of the country’s energy thrust about half of the nation’s 190 million people into darkness and prompted the deployment of military police in Rio de Janeiro. Authorities closed Rio’s international airport and the subway systems in Sao Paulo and Rio shut after the blackout struck around 10 p.m. local time.

Energy Minister Edison Lobao told reporters in Brasilia that electricity supplies will resume during the night in Rio and Sao Paulo, Brazil’s largest urban areas, as well as cities affected in at least four other states.

[swordfish]

Russia aims to cool rouble passion

Quote

Russia’s central bank warned investors on Tuesday that rouble appreciation was not a one-way bet as it sought to stem an advance in the currency sparked by rising oil prices and a falling dollar.
In a stark reversal of the sharp sell-off in the rouble a year ago triggered by falling oil prices and worries over Russia’s banking system, the rouble has become the best performing major currency against the dollar since the start of September.
The central bank bought $700m on Tuesday and sold the rouble in a bid to slow the rise of the currency.
The bank closely manages the value of the rouble against a basket of 55 per cent dollars and 45 per cent euros through such interventions. However, it still allowed the currency to rise 2 kopecks on Tuesday to 35.19, its strongest level since December 2008.
This took the currency’s gains against its basket since the start of September to 8.5 per cent as strong demand for Russia’s oil and a weak dollar have supported the rouble. Against the dollar, the rouble has risen 10.7 per cent over that period.

The rouble has now recovered more than half the losses it incurred in the wake of the financial crisis when the central bank was forced to dig into its foreign exchange reserves to halt a slide in the currency.

However, Sergei Shvetsov, head of the Russian central bank’s open market operations, warned that the rouble would not always move in one direction.
“I’m sure the level of [rouble] volatility will remain the same as with other [currency] pairs and I would not take a risk to predict that the rouble will continue to strengthen,” he said. Mr Shvetsov added that upward pressure on the rouble was rising as a result of carry trades, in which investors borrow in low-yielding currencies to invest in currencies with higher interest rates.
“Therefore rate cuts would reduce pressure on the rouble,” he added.
The Russian central bank has reduced interest rates by 350 basis points since April to 9.5 per cent, but they remain much higher than those seen in the world’s leading economies, thus encouraging carry trade investors.
Mr Shvetsov said the Russian budget would inject hundreds of billions of roubles into the economy in the remaining two months of the year. Institutions financed through the budget were expected to rush to spend their allocation to avoid seeing their share reduce next year.

http://www.ft.com/cm...144feabdc0.html

China Production, Trade Surplus Climb, Boosting Yuan Calls

Quote

Nov. 11 (Bloomberg) -- China’s industrial production and trade surplus climbed in October, indicating a strengthening recovery in the world’s third-largest economy that’s likely to amplify calls to let the yuan appreciate.
Today’s figures come days before leaders from the Asia- Pacific region gather in Singapore, and a visit by U.S. President Barack Obama to Beijing, where he plans to raise China’s currency policy. Premier Wen Jiabao has so far rebuffed pressure to loosen reins on the yuan, awaiting a bigger rebound in exports in an effort to secure social stability and job gains.

http://www.bloomberg...6....TxHo&pos=1

BOE Won’t Raise Rate for 12 Months, Ex-Chancellor Clarke Says

Quote

Nov. 11 (Bloomberg) -- Former U.K. finance minister Kenneth Clarke said Bank of England Governor Mervyn King is unlikely to seek interest-rate increases in the next year as the longest recession on record keeps inflation in check.
“The governor of the bank is going to face an absolutely crucial decision,” Clarke told reporters at a lunch in London yesterday. “I don’t think he’s likely to want to put up interest rates in the next 12 months.”
The Bank of England will today publish economic growth and inflation forecasts as policy makers seek to gauge the impact of their decision last week to expand their bond-purchase program to 200 billion pounds ($335 billion). The bank has kept the benchmark interest rate at a record low of 0.5 percent since March to combat the slump.

http://www.bloomberg...6...Jumeg&pos=6

Dollar Recovers From 15-Month Low as Geithner Sounds Support

Quote

Nov. 11 (Bloomberg) -- The dollar recovered from a 15-month low against six major U.S. counterparts after U.S. Treasury Secretary Timothy Geithner and World Bank President Robert Zoellick reiterated support for the greenback.
The Australian dollar traded near its strongest level since August 2008 as China, the South Pacific nation’s biggest trading partner, said industrial production and retail sales accelerated in October. The yen gave up gains after Japanese machine orders rose more than forecast.
“The dollar’s weakness is probably in its final phase over the next few months,” said Burkhard Varnholt, chief investment officer of Bank Sarasin & Co., which manages the equivalent of $79.3 billion. “With the dollar being undervalued by 5 percent to 30 percent against other major trading currencies, the dollar does look fundamentally cheap.”

http://www.bloomberg...id=aAjZeoyTI8Mw

[swordfish]

its a nice pump up day, well, I take off due to holiday, but I see a nice pump with eurusd crossing 1.5035 and eurjpy crossing 135 and dollar index fut now below 75. Its all good my friend, one more year with pump.

[swordfish]

Regarding yesterday "thank you satan" by obama (reverse "yes we can") which was posted on IDS, I found Serve Satan (Let me express) hahahahaha
http://www.youtube.c...h?v=V-TMKUea87E

[swordfish]

Unemployment in UK is falling
Po sesji w USA
Piotr Kuczyński - Xelion - 10 Listopada 2009 22:07
SEP. - 7.8% (est 8.1%), previous 7.9%

[Lemur]

Wow! Woke up this morning to see the usual S+P pump, gold still super strong, dollar falling out of bed... what else is new.

Anyway went long USDCHF here at support.

[Lemur]

ok short a small Audusd position with a stop at this mornings highs. Also shorted S+P with a 2 pt stop.