OPEC: Demand Growth Outlook Unchanged In 2013

World oil demand is set to grow as much as 800,000 barrels per day in 2013, the Organization of Petroleum Exporting Countries (OPEC) on Tuesday in its monthly report for the month of March. Estimate was unchanged from the previous forecast and in line with the rate of growth seen in 2012. 

OPEC said the hope for a large chunk of petumbuhan expected to come from China, the Middle East, followed by other Asian countries and Latin America. Oil demand from countries in the Organization for Economic Cooperation and Development (OCDC), which consists of the developed countries in the world, is expected to fall forward, but less than in 2012.

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Solid Gold, Physical Gold Demand Sustained Asia

Gold futures soared associated physical gold demand and gold-based ETF assets on concern the slow pace of economic recovery after the U.S. failed to reach policy makers to avoid removal budget kesepaktan known as Sequesteration.
Republicans in the U.S. House level indicate an alternative plan to introduce on Tuesday as part of a removal program budget of $ 4.6 trillion in the first decade, the proposal will then be followed by spending cuts from Democrats in the Senate.
Another positive catalyst is the prospect of additional easing from the Bank of England after data on manufacturing and industrial output fell below estimates, while in Japan, rumors of emergency BoJ meeting helped to trigger speculation of aggressive monetary easing faster than earlier expectations.
Tensions market in risky asset markets also rose after the expected Italy will fail to meet the deadline of economic reform in April in Brussels due to political uncertainty post-election some time ago. Where this little add interest to the safe-haven asset gold.
Observed so far Gold spot price rose 0.70% to $ 1,592.92 per troy ounce, after reaching its highest point at $ 1,593.71 and an intraday low of $ 1,580.36 daily per troy ounce. Technically, the intraday bias to bullish gold, but need to watch out for correction down to reduce the overbought / oversold. Resistant 1613 - 1620 - 1625, Support 1584 to 1576 - 1571.

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Along Mighty Dollar U.S. Economic Outlook Sunny

Market sentiment in the forex market today quite a mixed session from Asia and Europe as a short-term trading action amid lack of key economic data released Tuesday.

Republicans at the U.S. House of Representatives indicate an unveiled plans Sequester alternative tonight to make budget cuts of $ 4.6 trillion in the next decade, while the Democrats in the Senate will also give their own proposals on Wednesday tomorrow which is expected to provide an alternative plan of tax increases and spending cuts.

From the macroeconomic performance of the U.S. economy continued to surprise positively contributed to the positive catalyst the U.S. dollar, as the macroeconomic conditions in Europe and the UK is quite a contrast after the data reported British manufacturing production fell below estimates and the data indicate Q1 GDP growth will be burdened as acceleration contraction in industrial and manufacturing sectors. Riskier currencies like the euro are also vulnerable to a sell-imposed austerity policies as the euro zone indicate an hamper the pace of recovery from the recession of the European Union.

Observed so far the U.S. dollar index rose 0.15% at the level of 82.70, after reaching its highest point at 82.81 and an intraday low at 82.64 daily.

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Release Data Limit Appreciation Aussie Gain

After the release of the NAB business confidence survey is lower than the previous data release, which is 1 for the period from February 3 in January. AUD / USD was near weekly high at the 1.0280 level. Currently Aussie at 1.0300. Exchange rate rose 0.45% in the period of one week and -1.06% for a period of one year. ASX Australia fell 0.08% while the U.S. SP500 index closed up 0.32% near a new 5-year high, the highest increase since November 2007.

From a technical perspective the hourly chart shows indicators away from overbought levels but prices were still above the trend line and is above the SMA 20, clearly Valeria Bednarik, chief analyst at Fxstreet.com. "In the 4 hours chart, the bullish movement under pressure unless the price stay above 1.0300 area. Currency appreciation is limited, "he added.

Support levels at 1.0250, 1.0220 and 1.0180, while resistance level at 1.0345.

source 

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Kospi Continue Correction, Induced Yen

South Korea again relegated to the negative zone in trading Tuesday (12/3) is mainly due to the weakening yen that continues to worry for exporters of ginseng country to compete in the global marketplace.

The automobile sector has been weakened in recent days due to the won continues to struggle to compete with the apparent rate of speed of depreciation of the yen. The Japanese currency has lost nearly 9 percent against the Korean won since the beginning of 2013, and gave Japanese exporters greater profitability than rivals in Korea.

Some big names still appeared strong automotive giant in today's trading as Hyundai Motor, which rose about 1 percent and Kia Motors is still slightly higher around 0.7 percent. Recorded Kopsi index fell -0.28% or -5.59 points at 1997.99 area, while the Kospi index futures slumped -0.95 participate in the range of 263.75 points.

source 

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Oil Market Still Wait Data Release

Oil prices moved mix in early Asian session trading. Bearish signal derived from data from China's industry while positive sentiment coming from positive U.S. jobs data, according to Singapore-based trader.

Brent oil will move in the range of $ 109.30-$ 111/barrel related investor anxiety ahead of the market and wait for the oil from the OPEC oil inventory data from the API today (12/03) and EIA tomorrow (13/03), he explained. April Nymex crude oil futures contract rose 11 cents to 92.17/barrel. Brent fell 2 cents to $ 110.20/barrel.

source 

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BoJ Governor Candidate Says No Need to Change Target Inflation

 
Candidate for Governor of the Bank of Japan (Bank of Japan/BoJ), Haruhiko Kuroda said the government does not need to change the inflation target of 2 percent or setting a target for consumer prices, excluding food and energy.

"Target price BoJ is currently focused on core prices, which exclude fresh food and energy costs," said the man aged 68, who decided to resign as president of the Asian Development Bank (ADB), as reported by Reuters on Monday (3/11/2013).

While the core of the Japanese consumer price excluding food and energy, similar to the size of the core consumer price used the United States.

As is known, Kuroda is a proponent of aggressive monetary easing. He often spoke to lawmakers in the upper house should be the policy of the central bank. Prime Minister Shinzo Abe hoped, a former top diplomat was doing radical easing now in control of the BoJ to end a nearly two-decade deflationary Japanese twist.

Meanwhile, Japan's machinery orders fell 13 percent in January 2013, the largest decline in eight months. This result is a signal to the upper limit of the company's investment business encourages Prime Minister Shinzo Abe's economic revival.

Japan returned to growth in the fourth quarter as the yen began to slide, strengthening Abe campaign to end 15 years of deflation and revive the third largest economy in the world.

"Going forward, we expect accelerating consumption, housing and public investment," Devalier said, as quoted by Bloomberg, on Monday (11/03/2013).

"But given the trend of exports is weak, it will take more time before we see a business environment driven by pelamahan yen and increased optimism producers translates into strong corporate investment," he added.

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