Dollar Under Preassure in Asia After Mixed Data

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The dollar slipped in Asia Monday following mixed US data and simmering geopolitical concerns, while the Indian rupee sat close to one-year highs after the pro-business opposition won the country's general election.


In afternoon Tokyo trading, the greenback fetched 101.43 yen, against 101.54 yen in New York Friday afternoon.


The euro rose to $1.3700 from $1.3695 while changing hands at 138.98 yen against 139.08 yen.


On Friday, data showed US housing starts jumped a stronger-than-expected 13.2 percent in April, although the jump was driven by construction in the often-volatile multi-unit sector, while consumer confidence weakened.


Traders are now looking to Wednesday's release of minutes from the Federal Reserve's April 29-30 policy meeting, with Credit Agricole saying they "will be closely scrutinised for potential evolution of forward guidance as well as for clues on the monetary policy path going forward".


Also Wednesday the Bank of Japan will complete its own two-day policy meeting, which will be watched for an idea of its plans for its own monetary policy.


The dollar was mostly lower against other Asia-Pacific currencies. It fell to 11,358.80 Indonesian rupiah from  11,401.80 rupiah on Friday, to Tw$30.13 from Tw$30.15, and to 1,022.53 South Korean won from 1,025.16 won.

The US unit also dropped to Sg$1.2510 from Sg$1.2520, to 43.62 Philippine pesos from 43.75 pesos and to 32.47 Thai baht from 32.48 baht.


The Australian dollar was unchanged at 93.53 US cents while the Chinese yuan slipped to 16.23 yen from 16.26 yen.

Source : AFP

Gold Climbs First Time in Three Days on India Demand Speculation

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Gold futures climbed for the first time in three sessions on speculation that the newly elected Indian government will relax import restrictions, increasing demand for the precious metal.

India, the world��s biggest bullion consumer after China, will probably cut the 10 percent tax on shipments in July and relax rules on importers, Bachhraj Bamalwa, a director with the All India Gems & Jewellery Trade Federation, said today. The new finance minister will decide on easing, Reserve Bank of India Governor Raghuram Rajan said last week.

Gold futures for June delivery rose less than 0.1 percent to settle at $1,293.80 an ounce at 1:41 p.m. on the Comex in New York. This year, prices have climbed 7.6 percent amid signs of escalating geopolitical tension in Ukraine.

Copy Source: Bloomberg

Gold Rise on Speculation of India Relaxing Import Restrictions

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Gold climbed for the first time in three days in New York on speculation the new Indian government will relax import restrictions on the metal.

Incoming Indian leader Narendra Modi told thousands of supporters over the weekend that he represented a break from past governments after winning the nation��s biggest electoral mandate in 30 years. The new India finance minister will decide on easing gold import curbs, Reserve Bank of India Governor Raghuram Rajan said last week. China overtook India last year as the world��s biggest gold buyer.

œIndia looks positive, Bernard Sin, head of currency and metal trading at MKS (Switzerland) SA, a Geneva-based refiner, said by e-mail today. œThere may be signs of lifting restrictions.

Gold futures for June delivery rose 0.7 percent to $1,302.20 an ounce on the Comex in New York. Trading was 16 percent below the average for the past 100 days for this time, according to data compiled by Bloomberg.

The European Central Bank and 20 European central banks announced the fourth central bank gold agreement, without a cap on sales for the first time.

œThe signatories note that, currently, they do not have any plans to sell significant amounts of gold, according to the agreement anounced by the ECB. œGold remains an important element of global monetary reserves.

The statement is positive for gold because it indicates the metal will continue to be an important part of central bank reserves, Sin said.

Source : Bloomberg

Gold Climbs on Speculation of India Relaxing Import Restrictions

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Gold climbed for the first time in three days in London on speculation the new Indian government will relax import restrictions on the metal.

Incoming Indian leader Narendra Modi told thousands of supporters over the weekend that he represented a break from past governments after winning the nation��s biggest electoral mandate in 30 years. The new India finance minister will decide on easing gold import curbs, Reserve Bank of India Governor Raghuram Rajan said last week. China overtook India last year as the world��s biggest gold buyer.

œIndia looks positive, Bernard Sin, head of currency and metal trading at MKS (Switzerland) SA, a Geneva-based refiner, said by e-mail today. œThere may be signs of lifting restrictions.

Gold for immediate delivery rose 0.5 percent ot $1,300.40 an ounce by 9:34 a.m. in London.

The European Central Bank and 20 European central banks announced the fourth central bank gold agreement. œThe signatories note that, currently, they do not have any plans to sell significant amounts of gold, according to the agreement anounced by the ECB. œGold remains an important element of global monetary reserves.

Source : Bloomberg

Gold Holds Below $1,300 as U.S. Economy Weighed Against Ukraine

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Gold held below $1,300 an ounce as investors assessed the health of the U.S. economy and the impact on monetary stimulus against tension in Ukraine.

Bullion for immediate delivery rose and fell at least 0.3 percent before trading at $1,295.99 an ounce at 2:43 p.m. in Singapore from $1,293.52 on May 16, according to Bloomberg generic pricing. Last week, the metal completed the first weekly gain in three as rebels fought government forces in Ukraine.

Gold tumbled 28 percent in 2013 to end a 12-year rally on expectations the Federal Reserve would cut asset purchases as the economy recovers. The Fed has announced reductions at each of its past four meetings. Data this week may show more Americans applied for jobless benefits after last week��s report showed unemployment claims fell to the lowest in seven years.

Gold has advanced 7.9 percent this year in part as increasing tension in Ukraine fueled haven demand. In Vietnam, China is evacuating its citizens as Vietnamese authorities thwarted anti-China protests after violent demonstrations resulted in two deaths and damage at factories. The violence was spurred by anger over a Chinese oil rig in disputed waters.

Gold for June delivery advanced 0.2 percent to $1,296.30 an ounce on the Comex. Assets in the SPDR Gold Trust, the largest bullion-backed exchange-traded product, were at 781.98 metric tons on May 16 after dropping to 780.46 tons on May 12, the lowest since January 2009.

Source : Bloomberg

Europe Stock-Index Futures Are Little Changed; Ryanair May Move

European stock-index futures were little changed after the region’s equities climbed for a fifth week. U.S. stock-index futures were also little changed, while Asian shares fell.

Deutsche Bank AG may move after Germany’s biggest bank sold about 60 million shares to the Qatari royal family as it announced plans to raise 8 billion euros ($11 billion) in its second-biggest capital increase. AstraZeneca Plc may be active after Pfizer Inc. raised its offer to buy the U.K. drugmaker. Ryanair Holdings Plc may move after the discount carrier reported its first annual profit drop in five years.

Futures on the Euro Stoxx 50 Index expiring in June slipped less than 0.1 percent to 3,150 at 7:04 a.m. in London. Contracts on the U.K.’s FTSE 100 Index gained less than 0.1 percent, while Standard & Poor’s 500 Index futures lost 0.1 percent. The MSCI Asia Pacific Index dropped 0.4 percent.

The Stoxx Europe 600 Index added 0.1 percent last week as euro-area economic growth missed estimates and investors watched mixed earnings reports. The stocks gauge climbed for five straight weeks, the longest streak since November 2013, and reached a six-year high on May 13.

Deutsche Bank may be active. Paramount Holdings Services Ltd., an investment vehicle of Qatar, purchased 1.75 billion euros of shares at 29.20 euros each, the lender said in a statement last night. Deutsche Bank will raise an additional 6.3 billion euros from a rights offer in June, it said.

Source : Bloomberg

Emas Bertahan di Bawah US$ 1300 di Asia

Emas bertahan di bawah US$ 1.300 per ons karena investor menilai kesehatan perekonomian AS dan dampak dari stimulus moneter terhadap ketegangan di Ukraina.

Bullion untuk pengiriman segera diperdagangkan pada US$ 1,294.06 per ons pada 9:42 di Singapura dari US$ 1,293.52 pada tanggal 16 Mei yang lalu, menurut Bloomberg generic pricing. Pada pekan lalu, logam menyelesaikan kenaikan mingguan pertamanya dalam tiga setelah separatis berjuang melawan pasukan pemerintah di Ukraina.

Emas anjlok 28 persen pada 2013 untuk mengakhiri reli 12 tahun terhadap ekspektasi bahwa Federal Reserve akan memangkas pembelian aset karena ekonomi AS telah pulih. The Fed telah mengumumkan pengurangan pada masing-masing dari empat pertemuan terakhirnya. Data minggu ini mungkin menunjukkan lebih banyak orang Amerika mengajukan tunjangan pengangguran setelah laporan pekan lalu menunjukkan klaim pengangguran turun ke level terendah dalam tujuh tahun terakhir.

Emas telah naik 7,7 persen dalam tahun ini sebagian akibat meningkatnya ketegangan di Ukraina yang memicu permintaan safe haven. Di Vietnam, China mengevakuasi warganya pasca otoritas Vietnam dihalangi oleh protes anti pemerintah China setelah kekerasan demonstrasi mengakibatkan dua orang meninggal dan kerusakan di pabrik-pabrik. Kekerasan dipicu oleh kemarahan atas rig minyak China di perairan yang disengketakan.

Emas untuk pengiriman Juni diperdagangkan pada US$ 1,292.20 per ons di Comex New York dari US$ 1,293.40 pada 16 Mei yang lalu. Aset di SPDR Gold Trust berada di level 781,98 metrik ton pada 16 Mei setelah turun ke level 780,46 ton pada tanggal 12 Mei, yang merupakan terendah sejak Januari 2009.

Perak untuk pengiriman segera turun 0,3 persen menjadi US$ 19,323 per ons.(frk)

Sumber Bloomberg