The European Central Bank strongly oppose Greece debt restructuring

the European Central Bank (ECB) on the Greece debt restructuring proposal was strongly opposed, which deepened with other EU officials in dealing with the eurozone debt crisis differences on the issue.

members of the Executive Committee of the European Central Bank's stark (Juergen Stark) pointed out that if Greece debt restructuring, provided to the European Central Bank will cut Greece emergency credit support in the banking sector.

This is a strong counter to other EU officials, following senior officials that does not rule out on Greece possibilities of voluntary debt moratorium.

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analysis persons said , Cut off Greece Bank of emergency credit access will most likely lead to bank failures, because many Greece banks rely on emergency loan to maintain daily operations of the European Central Bank.

stark on Wednesday (18th) to visit Greece, said the sovereign debt restructuring would undermine the Greece effectiveness of government bonds, which will be to continue to provide liquidity to become impossible. The European Central Bank spokesman said Thursday on the confirmation.

prior to that, Euro Group President Juncker (Jean-Claude Juncker) said on Tuesday did not rule out on Greece debt "soft restructuring the possibility of", that is in Greece such as the sale of Government property taken by the Government but circumstances still need more help.

France's Finance Minister Christine Lagarde (Christine Lagarde) says Greece debt restructuring "off the table".

Central banker RMB cro14 border investment and financing pilot approach soon

every reporter Xu Zi

5 Mo Yan zhengrong from Shanghai on 19th, Second Secretary of the Central Bank's monetary policy JISHA Tibetan village at Lujiazui (600,663, unit) Forum, said, with cross-border RMB trade expansion of the pilot, the Central Bank is in the process of boot ordered return of RMB, RMB cross-border investment and financing pilot approach soon.

JISHA Tibetan village revealed that the first 4 months of the year, cross-border RMB settlement had up to 530 billion yuan, reaching 5% in trading volume over the same period. By contrast, 2010 as a cross-border RMB settlement a total of 500 billion yuan, accounting for around 2% in the ratio of the total import and export trade in China.

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JISHA Tibetan village said , At present cross-border investment and financing of pilot banks to do renminbi. Currently is and relevant departments related to the drafting of pilot approaches, pilot currency of foreign enterprises to invest in the territory of, or the RMB FDI, has now made a small number of cases of the pilot.

This is the second in January this year the Central Bank released the administrative measures on foreign direct investment of RMB settlement pilot, allowing foreign direct investment policy of the domestic enterprises RMB to relax over and over again. JISHA Tibetan village, said that as of now, the Renminbi overseas direct investment of Chinese Enterprise pilot around about 19 billion yuan.

JISHA Tibetan village, believed that since the start of cross-border trade RMB settlement business since July 2009, the development of RMB business in Hong Kong, also entered a period of a relatively stable development. To the end of March, amount of renminbi deposits in Hong Kong is $ 450 billion.

"manuscript statement" without the daily economic news authorized use, offenders. If you want to reprint or learn more about the highlights, log's official website: http://www.NBD.com.CN

Interest rate adjustment is not nece11ary Canada Central Bank or does not imply that raise rates

the media Thursday (19th) invoked Canada's Central Bank (BOC) Governor Kearney (Mark Carney) said in a letter, Kearney did not consider it necessary as adjusting interest rates as last year.

the media said that Kearney may not advance resolution implied interest rate, he hoped that the market is expected to be able to interest rate changes direction.

Canada in April 2010, the Central Bank warned may raise rates, at the meeting, at Kearney have abandoned in the second quarter to keep the benchmark interest rate at the level 0.25% unchanged commitment. Then on the income of the Bank in June announced in the meeting raise rates by 25 basis points.

Canada's Central Bank has 5 times in a row to benchmark interest rates unchanged in 1%, most recently in April 12. Resolution on the recent interest rate will be announced on May 31, but analysts expect Canada's Central Bank will leave interest rates unchanged again.

the media also claimed that Kearney says Canada Bank the most basic cases include raise rates in the next two years. Kearney also believed that United States tightening of monetary policy is still a long time actually.

$ AUD low modest rally New Zealand is still on the defensive

Monday (16th) Asian city midday AUD/USD from around lows, boosted by China's economic growth prospects and stock market weakness of suppressing NZD. In addition, the Australian and New Zealand are held steady against the euro.

$ AUD/from 1.052 hit a one-month lows on Friday. Located near 1.0513 important support material, the next support see 1.049 (April 19 low), the resistance is located near the 1.0618.

$ niuyuan/0.7826 earlier had hit a two-week lows.

12:11 ', Australian/US $ 1.0550/55; $ niuyuan/0.7839/45.

Fed tightening rxw dollar rally

abstract: meeting minutes for tightening of the Federal Reserve on Wednesday injected a dose of booster, most members believe that the Fed may need to earlier-than-expected tightening of monetary policy and asset sales, Goldman Sachs Group (Goldman) ignoring the recent weak economic data, is still optimistic about the United States the second half of 2011 economic, dollar rally.

Wednesday (18th), the Federal Reserve (FED) meeting minutes for tightening injected a dose of booster, most members believe that the Fed may need to earlier-than-expected tightening of monetary policy and asset sales, Goldman Sachs Group (Goldman) ignoring the recent weak economic data, is still optimistic about the United States the second half of 2011 economic, dollar rally.

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fed crunch policy rxw

fed currency policy developed who last month began on exit currency stimulation plan expand discussion , End of the first investment policies, then should be to raise interest rates and asset sales.

United States Federal open market Committee (Federal Open Market Committee) April 26 minutes, nearly all Federal Reserve officials felt that the reduction of mortgage-backed securities is the first step implemented exit policies, a majority of the members tend to raise rates gradually after the sale of agency debt for the first time, and the sale of agency debt will communicate with the public in advance, will be adjusted according to the situation changes in stride.

at the end of June after completing the 600 billion dollar debt scheme, how to exit the record as soon as possible to stimulate policy become the focus of Federal Reserve officials discussed.

President of the Minneapolis Fed kexuelaketa (Narayana Kocherlakota) said he supported the Federal Reserve to raise interest rates this month. 0-0.25% started in December 2008 the Federal Reserve to maintain rates unchanged.

St Louis Fed President Bullard (James Bullard), said that while there were signs of easing of inflation in the near future, the Federal Reserve could still take during the year, including the reduction of balance sheet contraction.

Brad said, the Fed tightening measures may be in the year. He personally inclined and believe the Fed will take priority on the balance sheet of the monetary policy, after expiration of bonds held by the Fed is expected to be allowed to reduce the size of the balance sheet.

in addition, several members considered that the increased risk of inflation implied the Fed may need to earlier-than-expected tightening of monetary policy, some members said the Economic Outlook or risk a major change will only cause the fed to further asset purchases.

, Federal Reserve tightening is expected to boost dollar index 75.25 quickly pulling 25 points in the vicinity, 75.5 per cent.

Goldman bullish on the second half of United States economic, the dollar rallied to

sector Jim O'Neill of Goldman Sachs Asset Management said on Wednesday that despite recent United States more weak economic data released, but United States economic growth continues to be able to recover in the second half of 2011 and boost United States stock market and dollar.

Tuesday (17th) according to the United States in April the first drop in manufacturing output in 10 months, Japan earthquake caused parts shortages and sharp decline in the housing construction activities also. These show that United States economic start negative in the second quarter.

O'Neill said, the recent United States economic data disappointing, but the data is transient, and and Japan earthquake and tsunami impact supply chain related. Expect the second half of 2011 economic growth will not be less than 3%, is estimated to be between 3-3.5%. If that is the case, the stock market will rebound, and the bond market will go down.

he pointed out that the United States economy is successful, during the slow return to balance, consumption does not, as in the past become economic driving force, but better export and investment sector, which is good for the stock market in the long term.

O'Neill pointed out that on the basis of the judgment on the Economic Outlook, US dollar/Yen last will be the winner, at the end of dollar/Yen is expected to rise to the level of 90.

Fed minutes May in Australia a point or a need to raise interest rates to curb inflation

Australian Federal Reserve (Reserve Bank of Australia) Tuesday (17th) May minutes of the monetary policy meeting, Australia Federal Reserve says, if current conditions continue, at some point in the future need to raise interest rates to control inflation, will seriously assess the prospects for economic growth and inflation in the next few years the core inflation rate could rise to the top of the target range.

Australian Federal Reserve said, maintaining the strong prospects for growth, the unemployment rate has decreased, high household savings will help curb inflation, or will raise interest rates, policies based on the overall economic situation, may raise interest rates to control inflation risks in the future. Australia fed said tight job market, and home of cautious mood change is the main inflation uncertainty, or core inflation has bottomed.

Australia fed says stronger Australian dollar led to a certain extent fared worse, foreign central banks to buy leading Australian dollar exchange rate rise. Weak housing market, other data is slightly biased towards optimism, economic situation or in the first quarter of contraction, formulation of policy must be aimed at the overall economy needs.

Australian Federal Reserve also said that effects of flooding not likely result in first-quarter GDP growth, pay close attention to short-term effects of the disaster, caused by flood higher than expected inflation in the first quarter.

Australia's Central Bank hinted to consider interest rates

Australia 17th of the Central Bank's monetary policy meeting minutes for May showed that, if inflationary pressures continued to enlarge, Australia's Central Bank may consider raising rates in the near future.

according to the participants to judge, if economic conditions continue to follow the expected evolution, the Central Bank is likely to raise interest rates when the inflation reaches a certain level, so that inflation control in the 2% of the year medium-term inflation target range.

however, the meeting records show that, when in judging whether to raise interest rates, Australian in future sessions of the Central Bank needs to carefully assess the situation of economic growth and inflation.

the Australia Bureau of statistics announced recently that in the first quarter from Australia consumer price index over the same period last year, an increase of 3.3%, 3% higher than economists expected and higher than the Central Bank's medium-term inflation target range. (Fu Yunwei)

Japan economy very serious decline of the yen surging

summary: 2nd week the Central Bank Governor Shirakawa said Japan economy after earthquake "very serious", suggesting that the Central Bank will maintain the ultra-loose monetary policy stance, collapse of the yen crashed, made nearly three weeks since the largest decline against the dollar.

Tuesday (17th), Japan's Central Bank (Bank of Japan) Governor Shirakawa (Masaaki Shirakawa) says Japan economy "very serious", the market will become more relaxed monetary policy is expected, so as to depress the yen against the dollar made nearly three weeks since the largest decline.

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BA grams Barclays Bank (Barclays Plc) stationed in New York currency policy Division Aroop Chatterjee said: "is clear of is , Japan economic in the supply of funds still faces many problems, and this no doubt is dragged down economic growth and exports. "

Chatterjee:" in terms of monetary policy, the action to stimulate economic growth in the short term is not very clear. "

Shirakawa said on Tuesday that because of the earthquake damage in March, Japan economic situation was critical, suggesting that the Central Bank will maintain the ultra-loose monetary policy stance.

he reiterated that Japan's Central Bank will do everything possible to fight deflation, but added that prices increased by strong economic growth is needed to promote, emphasizing the implementation of policies to stimulate Japan growth potential need.

in addition, Japan's Finance Minister, Noda Kai Yan-Duan also said that fighting deflation is the foremost task of the Government, even if the Government is trying to control the damage inflicted by the earthquake.

the dollar/Yen at present than last session 0.8%, trading near 81.45, intraday high rise 1.2%, to 81.76, this gains the largest since April 27.

however, entering the time in New York, stocks fell in Europe and America, combined with long term us debt hit a 2011 high and depress yields, high fall of the dollar/Yen two weeks.

Windsor Brokers Ltd. Slobodan Drvenica, an analyst said: "the dollar/Yen below initial support at 81.3, watch 81 after dropping below, and then was 80.7. "

Switzerland full meeting (MIG Bank) technical analyst Ron William said dollar/yen on Friday (13th) low 80.36 rebounded, and breakthrough 81.35 resistance today, the exchange rate is expected to further gains.

William said above the dollar/Yen is expected to exceed high 82 since the G7 joint intervention, and then the earthquake highs since 83.3, further on April 7 high 85.5.

Dollars the next 5 years by 40% experts say is not inconceivable

despite the strong performance of the dollar last week, but many analysts believe the dollar rally won't last. So far this year against the euro continued to decline around 6%. Analyst study found that the dollar index is closely associated with the USD/RMB exchange rate, if the dollar within the next 5 years years rise in 5%-7% (as expected by some analysts and traders), 20%-cent decline in US dollar currency basket might.

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Faros Trading transactions Department competent Douglas Borthwick said: " people has been in talk about vulnerable dollars , But we think it may have just started falling. EUR/USD is expected to soon rise to 1.5, if the Renminbi revaluation, the exchange rate will further move up. &Quot;

in the past two weeks, the financial market expectations that China will further relax control on renminbi rising. United States Treasury Department recently said that China is expected to increase the appreciation of RMB rate to counter inflation.

the Chinese authorities had allowed a gradual appreciation, was only in April, the appreciation of the Renminbi against the US dollar 0.9%, since the policy since the end of June 2010 the Renminbi peg, has appreciated about 5%. Since 2005, the Chinese authorities to allow its currency in a range against the dollar since trading, the dollar has appreciated more than 27%.

analyst studies have shown that for some time, appreciation of RMB with the euro increased almost equal, this part of the reason lies in the USD/RMB to the dollar index has been in recent years are closely related, while the euro's share of the dollar index reached 58.6%. Dollar index of other components for the yen, the pound, Canadian dollar, Sweden krona and Swiss franc, the proportion of 12.6%,11.9%,9.1%,4.2% and 3.6% respectively.

2005-2008, 18% fall within the dollar, close to the US dollar index decline of 22%.

analysts pointed out that the USD/RMB trend not only indexes have an important impact on the dollar, RMB appreciation may have an impact on trade competitors and partners in Asia, the latter may be more willing to make their own currencies to appreciate.

many economists are predicting that reassessment RMB exchange rate this year is expected to 5%-7% (although some experts believe that the RMB is undervalued against the dollar up to 40%), this can be done one-off revaluation 5%, or the way a gradual appreciation.

analysts pointed out that, according to the US $ index close relationship with the USD/RMB, if 5% year appreciation against the dollar within the next 5 years, it could mean the dollar index fell 20% per cent.

, Borthwick said he believes the dollar increase in the next 5 years up to 7.8%, this means that the tumbling dollar index around 40%. This figure corresponds to decline in October 2007 to March 2008 USD/RMB, but neither of the two sides have complained about the dollar decline.

despite the decline in the next 5 years for many Americans seem extreme, but according to global market standards is not too much. In the three years since 2008, soaring Australian dollar/US dollar 81%, and now there are still many investors buy Australian dollars.

09:11 ', the dollar index 75.32.

Denmark's Central Bank Governor denies European bond is a comprehensive crisis support euro is the best choice

Hong Beijing, May 18 (reporter He Jingyu) according to the voice of economic reports, Greece debt problem again stalemate led to market fears, there are even rumors that Greece may leave the eurozone. Denmark's Central Bank Pier·kaersen in Beijing to support the euro this afternoon, President, claimed that joining the eurozone is the best option for small States.

exactly one year after the EU launches euro 750 billion rescue mechanism, Member States of the eurozone again discuss how to avoid high debt default. This means that at that time relied on aid to Greece now back. The structural problems of the eurozone as if tumor spread to the surrounding, Europe debt crisis means that the eurozone crisis? Executive Chairman of the United Nations Economic Commission for Europe, Yang·kubishi 18th afternoon attend Beijing Tech Expo 2010 Finance Forum has expressed his concern on this issue.

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Kubis: in was inspired of message zhiwai , Higher unemployment and debt crisis hampering economic recovery in Europe and North America. Slow post-crisis recovery, rising unemployment, a large number of mobility, of rising commodity and food prices, inflation and trade protectionism are threatening the health of the world economy.

subsequent statements of Denmark's Central Bank Governor Peel? Carlson immediately denied that this worry was his Denmark control bad debt experience shows, is the debtor of the debt crisis of their own problems.

Carlson: I never think that this is the euro crisis, this is only a few countries the debt crisis. Of course the crisis is serious, you need to use more monetary tools to solve. Inflation under control, if not decisive, please see the euro to several currencies stronger than the other. Don't forget economies of quite a number of European countries has been very good.

, however, cannot be denied that Greece on its own cannot solve the crisis, and lack of monetary instruments could be one of the reasons. There are rumors that Greece may leave the eurozone, Carlson did not think it is a wise choice.

Carlson: we believe that our small open markets of the euro is the best choice. If we were in the original currency under a floating exchange rate, when the big flood of liquidity to we will fall into instability. In order to control inflation. We may be forced to use more currency tools.

Colson said may be right, but Greece's debt crisis could address the need of the leaders of the European Central Bank and the European Union decision. Eurozone finance ministers refuse to Greece to provide new loans, but said it is willing to give Greece the Government more time to repay loans of 110 billion euro, prerequisite is to immediately start the privatization process, funding to raise 50 billion euros.

now, Greece seems to have seen a glimmer of hope.

The Fed Brad or implemented during the year of the Federal Reserve tightening of monetary policy

Wednesday (18th), Governor of the Federal Reserve Bank of St Louis Brad (James Bullard) said the Fed tightening may be during the year, reducing its total assets. Even in recent weeks there have been signs of easing of inflation.

Brad said in an interview, he still believes the expected fed years of belt tightening is reasonable. He said personal preference in the priority on the balance sheet of the monetary policy, and believe the Fed will adopt such policies, allowed after expiration of bonds held by the Federal Reserve total assets declined.

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Brad said He worried excessively high inflation data have, however he believes that in the United States Treasury inflation hedge bonds (TIPS) market, expected rate of inflation has returned the following line.

he believed that if the United States economic recovery in the second half, it is necessary to pay special attention to inflation and expected inflation rate will rebound again on the increase.

yields on Treasury 10 this week dropped to 3.09%, for 2011 has the lowest level in years.

Brad said if not handled properly, the Fed's balance sheet operation can lead to high inflation. Brad comments refers to the record of the Federal Reserve's stimulative monetary policy before.

Brad on inflation worries marked his policy tendency of change. 2010 Brad urges federal reserve to buy Treasury bonds to avoid massive deflation, he is also the first to support take second round Treasury bond purchase of Fed officials.

Brad said, the Federal Reserve in June are likely to take "pause wait-and-see" policy, and then further assessment of the economic development.

4 month for the first quarter of the Federal Reserve United States economic slowdown lowered its economic growth forecasts for the year 2011, and a higher inflation expectations other than food and energy prices.

Brad said, if the strong growth in the first quarter, austerity policy needs to be more urgent.

current interest rates since December 2008 remain at near zero interest rates, and in March 2009 the Fed pledged to maintain the special low interest rate level of extended periods of time.

Brad is expected in 2011, the remaining month between the economic growth rate will be 3% per cent.

Brad optimistic about the year employment growth, layoffs had been adopted in many companies in the financial crisis reached a maximum level of downsizing.

due to normal voting right rotation, Brad in the Federal Reserve's Federal open market Committee this year does not have the eligibility to vote.

United Kingdom's Central Bank May meeting minutes, maintaining a low rate unchanged weak GBP USD

Wednesday (18th) New York foreign exchange markets, weak GBP/USD. United Kingdom's Central Bank May 4-the minutes of the monetary resolution, United Kingdom's monetary policy Committee (MPC) 6:3 0.5% interest rate does not change. Recent CPI prospect worse than February; few signs of inflation expectations continue to rise; assume that bank interest rates followed the rising market yields CPI may decline over the medium term; if real estate spending weakened, slower pace of contraction is appropriate.

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United Kingdom Central Bank (BOE) Wednesday (18th) announced May 4-5th currency resolution of meeting summary of. The minutes, United Kingdom's monetary policy Committee (MPC) 6:3 0.5% interest rate does not change.

on inflation, also shows the minutes, the recent CPI prospect worse than February; few signs of inflation expectations continue to rise; assume that bank interest rates followed the rising market yields CPI may decline over the medium term; if real estate spending weakened, slower pace of contraction is appropriate.

also shows the minutes a month to risks of inflation variability was not sufficient to spur the MPC to change perspective; three MPC members have advocated expected to raise rates because of data uncertainty continued that he had continued to wait for no benefit.

Wednesday (18th) New York, GBP/USD narrow shocks of the early period, slightly higher at midday time period, to continue after midday decline of slightly low consolidate.

from a technical point of view, date line short-term averages MA10 and interim averages MA60 death fork, MA21,MA30 turn down first, Brin with rail route down open resistance 1.6280,1.6336; support 1.6129,1.5957.

4:31 ', GBP/USD 1.6162/64.

Moody's cut its Australian Bank rating stable Australian dollar US dollar but Outlook flat

Wednesday (18) New York foreign exchange market, rating to Aa2 Moody's decision to cut Australia's four major banks, but the Outlook is stable. This may have caused some Japan retail investors uneasy, but the broader market may be more relaxed. AUD/USD were flat.

Wednesday (18th) rating to Aa2 Moody's decision to cut Australia's four major banks, but the Outlook is stable. This may have caused some Japan retail investors uneasy, but the broader market may be more relaxed. So just so that Moody's ratings of four banks and biaopu existing AA rating are consistent.

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analyst said , Which may explain why Asian sovereign account allegedly bargain buy AUD/USD, and why the alleged good buy is still concentrated in 1.061-20 area, and having heard that the more buying in 1.0580-90 region.

Wednesday (18th) New York, Australian dollar/US dollar in early trading narrow shocks, quick analysis continue to swing after midday, late rebound modestly.

from a technical point of view, Australian dollar/US dollar in recent trading has been in the 1.0526 box to shocks, 30-minute short-medium-term application of adhesive Bull sign up today, still need to adjust the time line. Resistance 1.0680,1.0740. Support 1.0610,1.0594.

5:57 ', AUD/USD 1.0628/31.

United Kingdom May average house price rise Sterling to benefit your Yang

Monday (16th) foreign exchange market in New York, United Kingdom property website Rightmove data showed today, United Kingdom May average Rightmove house price index rate increased by 0.7%, the former value increased by 0.1%. Pound this good, GBP/USD rose modestly.

United Kingdom property website Rightmove Monday (17th) according to the United Kingdom May average Rightmove house price index rate increased by 0.7%, the former value increased by 0.1%.

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Meanwhile , National Association of Home Builders (NAHB) published according to the United States May NAHB house price index is 16, is expected to be 17.

Monday New York time, GBP/USD rose steadily as the morning, refreshed daily high of 1.6253, midday high shock late gradually come down.

from a technical point of view, GBP/USD 30 minutes above the MACD zero axis dead fork, short to long-term averages are trend, resistance 1.6230,1.6281; support 1.6179,1.6167.

5:20 ', GBP/USD 1.6188/90.

USD depreciation of the anthropogenic investors turned more strong RMB

Goldman Sachs asset management company President Jim o ' Neill is the loyal fans of English Premier League-Manchester, Manchester United at the weekend ahead of Coronation finally relieved him. Of course, almost like another "Red Devils" Crown share his concerns, this is China's foreign exchange reserves.

above $ 3 trillion reserves in China for more than a month ago, not only ranked reserve list champions and far lagged behind second place.

o ' Neill the first 10 years ago "BRICS" concept is one of the world's top Exchange experts, former Chief Economist at Goldman Sachs, he think that the present scale of China's foreign exchange far exceeded the actual demand. China's foreign exchange reserves of twice the annual total imports, while traditional economic theory is that the imports of a country's foreign exchange reserves to pay for 3 months is enough.

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China reserves not only scale had large And rapid growth. After June 2010 beyond the $ 2 trillion, in less than a year but rose US $ 1 trillion. He believes that China's foreign exchange reserves is rapid increase in the short term, not caused by trade, but directly relevant to the Renminbi exchange rate.

in the first quarter of 2011, China's foreign exchange reserves rose 24.4%. The rapid growth of concern. A small deficit due to China's foreign trade for the first quarter, added should be the main reason of foreign exchange reserves in Renminbi appreciation along with large amounts of foreign direct investments and speculative "hot money" accelerated flow into China.

$ when the world's reserve currency in the United States under the influence of government policies after the depreciation of the anthropogenic global investors towards more firm renminbi is a natural thing. But with 3 trillion dollar reserves in China, certainly not wait for wealth, this requires looking for diversification of the assets management approach, for example, increase investment in sovereign investment fund range.

in addition, too huge foreign exchange reserves increased inflationary pressures, reducing Central Bank monetary policy tools to address the effects of excess liquidity. O ' Neill's solution is to accelerate the pace of renminbi appreciation and space, he thinks it can make less easy to forecast the trend of RMB trend, this is a good thing for RMB.

a Xinhua reporter Wang Yahong

He Zhicheng dollar rebound rather than the reverse will remain in shock

Beijing He Zhicheng

more recently, some people fear that the dollar rally will continue, and even reverse the market, resulting in emerging market countries capital outflow, stock market crash. In my view, rebound in the dollar index is a large, rather than the reverse. If from a much longer time period to make forecasts, this USD rally was "far reverse" a rehearsal in the process, cannot be ignored.

9 days of crude oil, gold prices and United States stock market rebound, may return from before inflation expectations in the market up, risk preference of emotions, the dollar's decline, commodities market turns around in a rising market. Non-dollar currencies in particular the commodity currencies will dance again.

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This wheel dollars rebound and no end. Stabilising commodity and stock markets will take the lead in rally, but the height has been restricted, highs in the near future is unlikely, rose higher, also will fall. Shock city, will replace the unilateral, early investors should pay attention to the timely departure of the cover. Want to buy? Plenty of opportunities. The stock market as well.

this significant rebound in the dollar index is deliberate for a long time, is the market technical trend bottomed out, fundamental regression as well as the United States a resonant interaction of verbal intervention by the Government. Overlay because of multiple factors, its impact will be lasting.

index dipped below US $ 76.1 long-term rising trend line in the vicinity, had fallen considerably, rival lifeline 70.6 mark, lowest in April dipped below 73. If this fall, dollar will soon dropped below historical low, causing global panic. In response, the United States Government the intolerable, global Governments do not agree with. Therefore select the dollar index, the most depressed in early May, Obama announced that killed bin Laden's message, be said to be a carefully planned.

$ current big rebound, at least there are three fundamental reasons:

one is the United States still needs a strong dollar, which is the largest of market fundamentals, long-term fundamentals. Short-term United States needed strong dollar in the environment of the weak dollar, is limited, controlled by the weak dollar. Implementation of relatively weak dollar policy requires great art. History many times proven that, fed well road.

the second is proud have seriously from the fundamentals of the euro, and flagrant violations of the core interest of the US $ will be incurred by the United States Government and market double punishment. What is the fundamentals of the euro, is the "Communist dreams", a dozen countries strongly twisted together, the idle state, eat the food stored up for the next year the State depends upon a creative countries. Because of the presence of euro dream, power willing to afford the benefits of the idle state, but this model unsustainable, idle States are not willing to repent, will constantly deepening the European debt crisis, until the outbreak.

three is the world's high inflation will certainly affect the United States, the Federal Reserve will be inputs to the global fight against inflation. Strong dollar policy must maintain the basic stability of the value of the dollar, can't always quietly devaluation, nor made global investors think, fed dollar devaluation in disguise "repudiation". To prove this point, the Fed must take timely measures against inflation. As the United States economy is slowly restored, inflation will continue to rise, the Fed is expected early next year at the earliest start to raise rates.

before the Fed started to raise rates, strong performance is not overvalued against the dollar. I expect the Fed may begin after completion of the QE2 a little to withdraw the liquidity. Therefore, we must attach importance to Bernanke May 3 speech on the do not want to continue to introduce QE3 issued, do not blindly believe this speech.

author index next week is expected to continue to rally, the first target should be in the vicinity of 76.15, this will shock the urban market, also hit to near 75. In other words, short the dollar index is just a rebound, not reverse, dollar rise in the future also depends on the situation of global inflation.

global inflation cannot be easily, and also in the second half comeback, because national economies are still strong in emerging markets such as China, United States recovery, Japan rebuilding will be pulled high inflationary expectations. High inflation environment will be maintained for a long time, global commodities markets staged anti-inflation in a bull market and the stock market will continue to play. When inflation peaked? Depends on when the fed on inflation really fired – interest rate hikes, the only way us $ to reverse, commodity market peaked.

Greece intends to take the soft dollar uptrend of debt restructuring skelter

Greece fears swept the market again on Friday, the stock market and commodity prices continue to plunge, dollar strong rallies again. Thursday European period announced of eurozone main national Germany and France of GDP data performance good has support euro and market emotional rebounded, New York period early disk announced of United States April inflation data meet expected, core inflation by 1.2% small rise to 1.3%, still is located in fed 1.5%-2% of target interval below, although inflation data indicates that fed medium-term will maintained loose of policy, United States was domestic fundamentals support still insufficient, but about Greece, country of concerns in market again staged "Black Friday". Because investors concerns Greece in this weekend again burst major bad, upside and crude oil in United States period early disk will began suffered violent selling, euro, and AUD, main non-US currency have tumbled recorded was low, was, this week closed Qian market burst Greece will may take "soft" debt recombinant, is with voluntary nature of, and Greece bond of investors may need bear must loss, or will claims debt period continues to 後 push, to maintained Greece debt of can continued sexual. Allegedly because of fears that Greece debt is not sustainable, and Greece deficit reduction targets could not be achieved, EU, IMF and Germany had accepted soft debt restructuring of the Government, but France and the European Central Bank worried about the measure caused a domino effect against the eurozone. EU Finance Ministers will meet next Monday in Brussels, Greece rescue plan or debt restructuring can make substantive progress there are big questions, but you can sure is from Greece fears problems will continue. Shang weekend Greece exit eurozone rumors although was continued negative, but the rumors led dollars reverse has became established facts, this week eurozone officials also continued negative debt recombinant, but debt recombinant eventually also is comes, therefore, despite dollars fundamentals still worth mentioning, but is expected eurozone Greece, and Portugal, country of bad still on market emotional and upside continued constitute suppressed, dollars success reverse and rise to for over months to of high 後 is expected to take eurozone concerns of Dongfeng continued rose trend. (Neal)

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United States period data and event: United States April consumer price index months rate 0.4% , In line with expectations, since the value of 0.5% before falling, annual 3.2%, before the higher than expected, and value, the core consumer price index monthly rate 0.2%, annual 1.3%, are in line with market expectations; United States initial value 72.4 May University of Michigan consumer confidence index, value greatly improved before.

in Asian data and event next week: 06:45 New Zealand producer input price index quarter rate and annual rate in the first quarter, quarter rate and output price indices annual rate, 07:01 United Kingdom May Rightmove house price index month rate and annual rate, 07:50 Japan March core machinery orders monthly rate and annual rate.

Friday eurozone national announced of series of GDP data once support euro rebound to 1.4338, United States early disk announced of United States inflation data generally meet market expected, Greece concerns makes upside in weekend holiday Qian was crazy selling, euro corresponding sharp fell to 1.41 below and recorded was for over months yilai of low 1.4065, despite currency eventually reluctantly received Yu 1.41 above, but day figure overall still continued strong of downward trend, short-term still has continues to downward links to 1.4 mark of risk.

eurozone data in European period support euro rebound 後, dollars small down drag dollars/Yen Xia breaking 10th averages support recorded was low points 80.33, United States period dollars overall strengthens 後 dollars/Yen again shocks rebounded and received Yu 10th averages above, day figure continued 10th averages and 20th averages Zhijian of finishing, random index has again down of risk, 10th averages remains short-term key support.

although the United Kingdom's Central Bank recently said tough may raise interest rates, but the stock market and the marketEmotional continued sluggish performance subject the pound is still a big drag, and pound from euro/British pound cross from time to time also suppressed, GBP/USD on Thursday near the European period slightly recovered to only 1.63 and again following the collapse of the other non-us. Daily figure since the 50-day moving average downward sharply, further strengthen the strong decline in the near future, if they have recently dropped below 100-day moving average located near 1.611 will probably continue to point to the Department of 1.6 points and even the end of March.

in Europe AUD/USD intraday rebound to 1.07 above, but after that came in the United States followed the stock market and crude oil prices fell sharply today, once-broken May 5 low point recorded a new low under 1.052, crude oil prices and a rebound in US stocks in late support exchange rate rebounded modestly. After our random index rebound attempt down, if at the bottom of oscillatory interval supported rally still continued volatile as of may, and 1.05 breaking near the bottom of the support will open the door to further amendments.

Prices continue to rise in the Eurozone inflation rate is expected to continue to rise

according to voice of economy of the world financial reports, monthly report showed the European Central Bank, recent prices continue to rise in the eurozone, Eurozone inflation rates within the next few months is expected to continue to rise. Report expected later this year or next year, Eurozone inflation pressure will gradually reduce. The European Central Bank experts estimate that this annual rate of inflation in the eurozone and 2.5%, respectively. They will this year's inflation rate significantly increases than previously 0.6%.

European debt concerns occupy the spotlight the euro and the dollar role reversal

in just two weeks before the markets due to the Federal Reserve (FED) policy statement of a meagre and Fed Chairman Ben Bernanke (Ben Bernanke) no highlights of speeches, which were losing confidence in the dollar. And in the current market, investors are uniform transfers the focus to a eurozone debt issues still outstanding. Concerned about major changes in the object making the euro and the dollar was almost " role reversal ".

Friday (May 13) New York, the euro/dollar modest rebound after sharp declines, 1.4067 1.5 months of low level fell to the lowest point. Exchange rate since early this month hit 1.4939 2.5-year high in the level of basic is constantly downward trend after.

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recent yilai , From trapped around the eurozone countries " end " the debt problem continued to affect the nerves of investors. Last year the European Union (EU) and the International Monetary Fund (IMF) EUR 111 billion assistance loan for Greece again facing financing difficulties. More serious is, with all indications show Greece financial situation all the more unsatisfactory, the country faces increasing the risk of debt restructuring.

, analysts said once Greece forced debt restructuring, it is equivalent to opening Pandora's box, at which time Greece and the eurozone economy is likely to be a significant impact.

former European Central Bank (ECB), Vice Governor of Greece Prime Minister Papandreou (George Papandreou) economic and financial policy adviser of Papademos (Lucas Papademos) said on Thursday that destructive force of debt restructuring may be beyond anyone's imagination.

reports, the European Union (EU) and the International Monetary Fund (IMF) will accept Greece soft debt restructuring, with most of the eurozone officials marked contrast to previous short a tough attitude.

a large Japanese Bank in Tokyo, traders said, EU Finance Ministers meeting next Monday (May 16), held in Brussels, Greece's new aid plan is expected to introduce during the Conference. When investor selling in euro or will reach the top.

the trader noted that the market on eurozone finance ministers can Greece reach substantive agreements on skeptical. In Greece the current situation, Greece to solve the heavy burden of the debt problem alone. If no external force support, Greece debt restructuring will be inevitable.

France agricultural credit Bank (Credit Agricole) report, the analysts said, although the European Central Bank expected the euro to provide support for a continuous rise, but vulnerable to effects of the debt crisis in Europe of the euro. In addition, the strong performance of the eurozone GDP in the first quarter, but also highlights the eurozone core differences and the pace of economic growth between the second-tier countries.

the analysts pointed out that, as the EUR/USD on Thursday to close at 55-day moving average 1.4262 below, under the future or will try 1.4061 support, the level close to the currency rallied nearly 5 weeks of starting point.

the United States, the day Announces United States economic data overall has performed well, while United States inflation pressure increase also boosted the market on expectations of tighter monetary policy ahead of the Federal Reserve, which rallied laid the Foundation for dollars to expand.

United States Department of Labor (DOL) published data show that United States April not quarter adjusted consumer price index (CPI) annual rate increased by 3.2%, expecting an increase of 3.1%, the former value increased by 2.7%.

United States University of Michigan (University of Michigan) published data show that United States May University of Michigan consumer confidence index initial of 72.4, touched in February this year to the highest expected 70. Show consumers the future United States economic situation expected more optimistic.

at the same time, many officials of the Federal Reserve recently said as the United States on solid road to recovery, or of the Federal Reserve will raise interest rates modestly at the end.

02:08 ', EUR/USD 1.4105/06.

United States Government to the joint intervention of the yen intervention in size US $ 1 billion

Huitong NET May 14

Federal Reserve of New York (NY FED) Friday (13th) report shows that for the fight against the yen to United States in March, Japan after the earthquake the size of us $ 1 billion to intervene.

New York Fed also said that the Federal Reserve by the Federal Reserve system open market account for the size of US $ 500 million of intervention, at the same time to United States Treasury (US Treasury) scale of identity through the Exchange Stabilization Fund for the intervention of the US $ 500 million. Intervention is conducted only once.

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report pointed out that To interfere with the Group of 7 (G7) statement. In Japan after the earthquake, the Yen once appreciated significantly, for the fight against excessive and disordered movements in exchange rates, the G7 for the intervention.

report noted that Japan's Central Bank sold yen to depress the Yen exchange rate. Led to depreciation of the yen by intervention is to a large extent occurred shortly after the G7 meeting announcement.

this intervention was with the Japan's Central Bank (BOJ), the United Kingdom's Central Bank (BOE), Canada's Central Bank (BOC), the European Central Bank (ECB) joint. Reports do not indicate United States authorities to suppress the yen to buy the currency, but announced in the scale of intervention consistent with the market estimated size.

Bilateral swap rises to 834.2 billion RMB's internationalization accelerated proce10

reporter yanliliang

the Central Bank said yesterday, approved by the State Council, the Central Bank and the Central Bank of Mongolia in Ulaanbaatar have signed amounting to 5 billion worth of bilateral currency swap agreements, agreement is valid for three years, can be extended by mutual consent. Since the beginning of this year's Central Bank signed such agreements with third countries, further speeding up the process of internationalization of RMB. Since 2008, and 11 countries and regions of China signed a currency swap agreement, totals $ 834.2 billion RMB.

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"aimed at promote bilateral trade development and for financial system provides short-term liquidity. "The Central Bank bilateral currency swap agreements signed this explanation.

a State-owned commercial banks, experts said bilateral currency swap agreements the country or region, provide short-term liquidity support through local currency swaps can be mutual, for in each other's branch of national commercial banks provide financing to facilitate and promote the development of bilateral trade, promoting financial stability in the region.

associated with bilateral trade RMB settlement has been the focus of attention in the near future. Central Bank statistics show that the first quarter of 2011, banking Trojan for cross-border trade settlement business of 360.32 billion yuan, $ 19 billion increase over the last quarter of 2010. Among them, export settlement amount of $ 20.23 billion for trade in goods, import clearing rate of $ 285.37 billion; service export trade and other current project settlement amount $ 19.59 billion, import clearing rate of $ 35.13 billion. The first quarter, cross-border trade RMB settlement the actual payment total amount of 258.47 billion yuan, which paid $ 39.25 billion, out-of-Pocket 219.22 billion yuan, the income ratio of 1:5, representing a decline at the end. Among them, and of cross-border transactions than the highest areas of Hong Kong.

the expert considers that, signed a currency swap agreement can enhance the use of RMB in some countries, a certain extent, is paving the way for the internationalization of renminbi regionalization. At the same time on both sides will also reduce the signatories in trading activity in the dollar exchange rate fluctuation risks faced by so conducive to the development of bilateral trade. Recent rise in the Renminbi exchange rate against the dollar, also highlighted the importance of bilateral currency swap agreements in import and export trade.

Fed's Dudley United States job market to improve the economic recovery will accelerate

United States New York Federal Reserve President Dudley (William Dudley) Friday (May 6), United States labor market is improving, economic recovery will accelerate, and inflation expectations have remained stable, underlying inflation close to the Federal Reserve (FED) goals.

Dudley pointed out that the United States April employment data show the job market is further improved and is expected to continue to grow in the months ahead. Improve the labour market will help boost the housing market, the unemployment rate will be " over a period of time; stubbornly " is high, and unemployment fluctuations is too large, level of unemployment is difficult to predict the end, even if added 300,000 new jobs each month, United States at the end of the job market still has a lot of idle.

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Dudley said , Production, driven by rising corporate profits, on the manufacturing sector showed plenty of action, so the United States first quarter gross domestic product (GDP) of weakness may be temporary and periodical, economic weakness, rising commodity prices and food-related, there is reason to believe that economic recovery will accelerate.

Dudley believes that fed off the policy objectives of economic growth and price stability is still some distance, the Fed is pay close attention to inflation expectations, inflation expectations have remained stable, but it's important to make sure that " is not out of control ". In addition, commodity prices rose almost did not move to core inflation, core inflation remained below the Fed's optimal level. Base closer to the Fed's target for inflation, may be further increased.

Dudley said the Fed was closely following the commodity market, but he declined to comment on the fluctuation of commodity markets and the prospects for monetary policy.

United States Department of Labor (DOL) data showed Friday, United States after the April quarter adjusted non-agricultural employment increase of 244,000 persons, expected to increase of 186,000 persons, in March to increase 221,000; manufacturing employment after the April quarter adjusted increase of 29,000 persons, expected an increase of 19,000 persons in March to increase of 17,000 persons; unemployment rate for the 9%, expected to be 8.8%, per cent in March.

Internal divisions of the Federal Reserve remains the only launched QE3 probability is very low

Wednesday (11th) number of officials of the Federal Reserve for inflation, economic and monetary policy made a statement. But as in the past, different stances, indicates that the Fed remains divided views on future monetary policy. But one thing is for certain, that is, the introduction of the third round of quantitative easing monetary policy (QE3) the possibility of getting lower.

United States Minneapolis Federal Reserve President kexuelaketa (Narayana Kocherlakota) that if the United States economic recovery as he expected, the Fed should modestly raise rates before the end of 2011.

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he pointed out that If the United States the core personal consumption expenditures price index (PCE) climbed to 1.5% in the rest time in 2011, the Federal Reserve should raise interest rates by 50 basis points. Even so, the Fed is to increase the interest rate from the actual level of zero interest rates and monetary policy continues to be a high degree of loose.

kexuelaketa make radical statements at the same time, the Cleveland Fed President pinaertuo (Sandra Pianalto) attitude is more moderate. In her view, for now, the Fed's monetary policy stance remains appropriate, but the easing of monetary policy will eventually have to reduce.

, Atlanta Fed President Lockhart (Dennis Lockhart) wording although there is no direct reference to the interest rate, but it continues to maintain its loose monetary policy stance of the Federal Reserve does not look good. He said that second quantitative easing scheme (QE2) after the end of June, very high threshold of further buying Government bonds.

, analysts said as the United States job market and the overall economic situation gradually improved, the Fed is expected to start Recovery stimulus at the appropriate time. In any case, judging from the present situation, there is little possibility of the implementation of the third round of quantitative easing. This will rebound in the dollar to create a good environment.

United States Bank (Bank of America Corp) global head of currency research David Woo said, the Fed is coming to an end the second round of quantitative easing, the EUR/USD at the end of June or the level dropped to 1.32. End of the market not fully digested Federal Reserve expected of the QE2. Quantitative easing, or the end of the Federal Reserve will boost dollar rebound, and lead to a correction in commodity prices.

known Astor Asset Management asset management company of a senior asset manager Rob Stein said, the US dollar in the next five months will also rise between 6-9.

Han Liyan mainly for hot money does not affect whether interest rates

hexun Exchange channel on May 12, the people's Bank of China decided, as of May 18, 2011, deposit financial institutions renminbi deposit reserve rate 0.5% per cent.

hexun exchange channels wired Beihang University, Dean of economic management Han Liyan. He said the raising the deposit reserve rates, mainly deal with the constant inflows of "hot money" and take targeted action.

Han Liyan believes that April macroeconomic statistics, March added Exchange account for da 407.9 billion yuan, while raising the deposit reserve ratio 0.5%, can basically recycled the same amount of liquidity, with the Central tickets on sale today, form a unified action. Elimination of the impact of foreign exchange.

also precisely because of this, because raising the deposit reserve rate and interest rates are trying to achieve different, so the two basic is between independent, there is no interaction. Also because its main goal is to recycle too much foreign exchange accounted for, rather than to tighten, so it does not have a greater impact on domestic interbank rates, more limited effect on the domestic economy.

Canada new housing price index for March was over four consecutive months of gains

Canada Bureau on Thursday (May 12), Canada March end of the new housing price index for four consecutive months of gains.

statistics, Canada March monthly rate of new housing price index was flat, expecting an increase 0.3%; annual rate increased by 1.9%.

Canada February month rise in new housing prices 0.4%, year up 2.1%.

Greece debt restructuring to avoid le50 than euro trend in jeopardy

since Greece financial problems since he was once again become the focus in the market, about Greece debt restructuring may be forced to say began to emerge around on the market. Although the top echelon of the eurozone, frequently issued short statements saying it is nonsense, but there are signs Greece financial situation is all the more unsatisfactory, the major rating agencies taking the lead cannot hold back on Greece out of demoted a sword. Analysts believe that, under such circumstances, the EUR/USD shoulders heavy pressure, despite a wave of declines after the continuous decline slows, but I'm afraid to make a difference in the short term.

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Thursday (May 12) New York period , The EUR/USD is 1.4220-1.4270 interval wide shock, late in Europe fell to the lowest level of 1.4124 1.5-month low points, but then the overall poor performance of United States economic data exchange rate decrease was cut.

Greece debt restructuring what consequences?

Ryan, EU economic and Monetary Affairs Commissioner (Olli Rehn) said on Wednesday that Greece debt restructuring, it will cause devastating blow to the country and indeed the entire eurozone.

Ryan said that if Greece forced to adequate debt, then the country's banking system would have "a large part of" facing bankruptcy. There is no doubt that, when economic and employment situation in the country will be seriously burdened, and over a long period of time to Greece from the international lending market. At that time not only Greece, eurozone as a whole are likely to face a wave of disaster.

former European Central Bank (ECB), Vice Governor of Greece Prime Minister Papandreou (GeorgePapandreou) of the economic and financial policy adviser Papademos (LucasPapademos) said on Thursday that if the debt restructuring took place, whether Greece or the eurozone economy will suffer serious adverse effects. Destructive power of debt restructuring may be beyond anyone's imagination.

Greece debt restructuring possibilities of geometry?

Papademos believes that as long as Greece to ongoing reform programme to the full on horsepower, the debt restructuring will be unnecessary. He also called on not only by virtue of the current situation of market participants concluded prematurely.

the Council of Europe (EuropeanCouncil) President van rompuy (Herman vanRompuy) says Greece debt restructuring is not inevitable, Greece current developments of the does not wait to be killed, they actively promoted various major reforms, including privatization plans of the total value of EUR 50 billion. If Greece Government sufficient time to deal with the problem, then Greece debt is sustainable.

however, market analysts for Greece debt issues are not so optimistic.

the Pacific (601,099, unit) asset management company (PIMCO) President Mohamed El-Erian said recently, Greece is difficult to stabilize its financial situation, it should be the restructuring of sovereign debt. To date, all used to resolve Greece debt crisis means have not worked, markets expect Greece to this loss.

Deutsche Bank (DeutscheBank) Group of 10 global head of FX Strategy Alan Ruskin said Greece is more likely to get funds for emergency assistance, but in 2012 will inevitable for debt restructuring, only varying degrees of loss of the victims.

TempusConsulting GregSalvaggio Inc analysts pointed out that Greece some 70% may have to restructure debt.

debt problems still outstanding euro recent dinosaur find it hard to make

analysts, only Greece debt restructuring risks a has made the euro were tired out. In addition to other neighboring countries in the eurozone, such as Portugal and Ireland's financial situation also is not optimistic. The present situation is, most investors have been looking on any focus on the factors against the euro.

TempusConsulting Inc Salvaggio pointed out that the market is very concerned about Greece debt problem progress, investors can take advantage of exchange rate opportunity to rebound to sell euros. As soon as Greece debt to be restructured, opens Pandora's box, worry about the future trend of the euro.

Canada Imperial Bank of commerce world markets (CIBC WorldMarkets) head of currency analysis JeremyStretCh said, "Greece debt problem as is the slow movement of a car accident. Policy makers know they must find an effective solution, but to face the Greece debt crisis. "

03:13 ', EUR/USD 1.4231/34.

Korea's Central Bank kept interest rates at 3% the same surprise market accident

summary: Korea Central Bank policy rate at 3% change in announced Friday, the second consecutive month wait, surprised investors by surprise.

Korea's Central Bank Friday (13th) policy rate at 3% change in announced, wait for the second consecutive month, surprised investors by surprise.

Korea Central Bank said monetary policy Committee to maintain 7th unchanged repo rate in 3%, not published details.

according to the international well-known financial media prior to this survey, 19 in the analyst, 16-bit index rate is expected to be raised by 25 basis points to 3.25%, and the remaining 3 are not expected to change.

Korea Central Bank said that under the demand factor pulling, the consumer price index (CPI) may maintain strong gains momentum. Fluctuations in oil prices and Europe's financial problems is the main risk facing the economy.

also, Korea's Central Bank also said Korea economy on track for steady growth.

IMF European debt crisis could spread the threat of inflation began to rise

Li Guanyun

5 12th International Monetary Fund (IMF) publications of the European Economic Outlook report, pointed out that the sovereign debt crisis from Greece, and Ireland and Portugal outward diffusion of risks "remain".

according to this report in 2011, Greece, and Portugal and Spain total due and need to repay the debt, equivalent to the one-tenth of the total GDP of the three kingdoms. And Belgium, and Ireland and the United Kingdom requires large amounts of debt financing made by the new, the "old for new" reimbursement due bonds.

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IMF on Greece , And Ireland and Portugal fiscal deficit reduction plan to retain the confidence of the three kingdoms, projections from 2011 to 2012, Greece budget deficit share of GDP dropped from 7.4% to 6.2%, Ireland dropped from 10.8% to 8.9%, Portugal fell from 5.5% to 5.6%.

in this report, the IMF also predicted economic growth rate in Europe in 2011 and 2012 respectively, and 2.4%, while the eurozone economic growth rates over the same period and 1.6%. In these two years, European economic growth in developed countries rose from 1.7% will be, and the emerging economies will keep 4.3% for 2 consecutive years of economic growth.

the same day at a press conference held in Frankfurt, IMF Europe head Antonio Borges respectively on developed and emerging economies in Europe has made policy recommendations.

Borges pointed out that, in the developed countries in Europe, policy makers need to take measures to restore confidence, to carry out structural reform, fiscal consolidation and strengthening the financial system. IMF reports that, Europe must deepen financial and economic integration, and to build stronger institutions in the financial sector to solve the crisis and restore the confidence of the banking system in developed countries of Europe is a prerequisite for through the crisis.

Borges advice for emerging economies in Europe are, continue to cut fiscal spending, reducing the vulnerability of financial systems and reliance on export-oriented economy.

IMF has also been issued to European inflation warning, pointed out that the rise in commodity prices and economic recovery accelerated under the impetus of 2011 European inflation will rise to 3.8%, and in 2012, down to 3%.

in monetary policy, the IMF suggested the European Central Bank "not to raise interest rates too quickly".

Spain Los card 5.3 earthquake occurred in the ancient town, has caused the deaths of at least 10 people

Huitong network, May 12-

Spain Los card 5.3 earthquake occurred in the ancient town, has caused the deaths of at least 10 people.

Germany record high April CPI values per cent increase since October 2008

Germany Federal Statistical Office (Federal Statistics Office) on Wednesday (May 11) Germany April consumer price index (CPI) end-value data, confirm the highest level in its annual rate of increase since October 2008.

statistics, driven mainly by rising energy prices, Germany April CPI final annual rate increase of 2.4%, consistent with the initial value, the highest growth rate since October 2008 monthly rate of growth of 0.2%, also in line with initial value.

Germany Federal Statistical Office data also show that Germany harmonic CPI monthly rate increase for April 0.3%, initial value increased by 0.2% rate increased by 2.7%, initial value increased by 2.6%.

United Kingdom GBP implied interest rates during the year of the Bank rose 100 points

hexun Exchange message Wednesday (11th) United Kingdom Central Bank published the inflation report, in the report in the United Kingdom's Central Bank raised its United Kingdom inflation expectations, United Kingdom's Central Bank said interest rates in line with market expectations, CPI increases slightly higher than the 1.9% the next two years (February estimate is 1.62%).

the United Kingdom's Central Bank expects CPI increases were more likely to reach 5% in 2011 a later, more likely to more than 2% for the year 2012. This will be more than United Kingdom Central Bank's inflation-control target. United Kingdom Bank of Mervyn King (King) that the monetary policy Committee (MPC) want to ensure that restore 2% of the CPI in the medium term target level. While United Kingdom money market Committee is expected, United Kingdom's Central Bank may raise rates before December of this year, after expected for January next year.

previously expected in the United Kingdom Central Bank worried about economic recovery has not been mentioned, suggesting that the United Kingdom central banks might be more attention to the problem of inflation.

under the influence of the GBP/USD rose almost 100 points, highest rate reaching 1.6485, subject to the 200-hour averages of repression. If the pounds, break through the resistance level, future higher line is expected to further.

Crude oil co43odities plunge co43odity currency Australian dollar under pre02ure

Tuesday (11th) New York foreign exchange markets, expectations that China's tightening monetary policy, at the same time commodities such as crude oil prices fell sharply, commodity currency Australian dollar under pressure substantially down.

published by the National Bureau of statistics, China's April consumer price index (CPI) rose 5.3%, continue to maintain a high State. Market on expectations of continued tightening of monetary policy in China.

Meanwhile, commodities such as crude oil prices fell sharply, the New York Mercantile Exchange-NYMEX crude oil futures contract June plate refreshed Daily low $ 97.5/barrel, dragged down commodity currencies.

Tuesday New York time, modest rise early, midday fell sharply in late fall.

from a technical point of view, 30 min MACD gold fork at the bottom, but since the turn of equal-string head down short order, multi-day moving average above suppression, hardly bounced back for a short time. Resistance 1.0776,1.0862; support 1.0660,1.0647

Greece rating News keep pouring in euro smell of knees

positive market for Greece will be possible to restructure its debts, or even made to exit the eurozone concerns on an application when ratings agency standard and poor's (Standard& Poor"s) once again Greece sovereign rating opened the knife. Downgrade messages out, EUR/USD continued declines, briefly fell to a 1.4254 level of a three-week low points. However, the biaopu downgrade may be just a "prelude". As the other rating agencies also began looking to Greece debt problem, when the market will likely usher in a wave of more influential "climax".

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Monday (May 9) New York period , Near the EUR/USD fundamental is 1.43 shocks, lower currency 4th consecutive trading day, tragic collapse of the market has been extended to 3rd day.

increases the possibility of debt restructuring biaopu the first to shake out of demoted a sword

international rating agency standard and poor's announced on Monday, as Greece is gradually increasing the possibility of restructuring debt, the country's long-term sovereign rating from "BB-"-level downward to "b" level, its short-term sovereign rating from "b"-level downward to "c" level, rated prospect to maintain negative.

biaopu also said, is expected to take a decision on negative watch list in the next 3 months. If discounts possibility of debts rise, Greece rating may be lowered further. But if the eurozone partners from commercial creditors of responsibility-sharing obligations, while extending the repayment period, Greece rating may be stabilising.

demoted to biaopu initiative, Greece finance believes that biaopu our cut Greece revised rating on the Government's debt rating from the Agency just over a month. In the meantime, Greece does not appear in a new negative news or decision, so biaopu this downgrade decision is unreasonable.

finance, credit rating decisions should be based on objective data, policy makers release announcement and the economic reality of the situation assessment, rather than market rumours and media reports. If such a decision only based on rumors, its effectiveness is questionable. Finance believes that the demote moves were biaopu about the recent private sector creditors holding Greece shortly after government bonds will be forced to suffer loss of response to market speculation.

WINS euro ambition also scooped

made in respect of the biaopu cut Greece rating decided not to after a few hours, two other rating agencies Fitch (FitchRatings) and Moody's (Moody"s) seems to have also shifted targets Greece debt.

a Germany media published reports on Monday said, Fitch was planning to Greece's sovereignty be lowered further, from the current "BB+" down to "b" or "B-", but the article doesn't indicate that the message source. Shortly after the publication of the report, released Fitch said in a statement, the institution given Greece "BB+" rating Outlook is negative, comment on market speculation, not.

analysts believe that although Fitch did not make significant substantive initiatives like a biaopu, however, the Agency for Greece sovereign rating of negative views have already been accounted for in the pricing of the market.

terms of stance than the Fitch Moody's was more radical, the Agency said, which continue to Greece rating places may be lower in the watch list. If concluded Greece reorganization of debt face greater risks, may be Greece rating downgraded a few grade difference.

, Moody's also said that if Greece debt/GDP ratio is the future trend of unsustainable, then Greece may seek to adjust their debt terms of power. Moody's also forecast, Greece in 2012 to return to further reduce the possibility of the financial markets.

Canada Imperial Bank of commerce world markets (CIBC WorldMarkets) Exchange analysis, JeremyStretch said, "Greece debt problem as is the slow movement of a car accident. Policy makers know they must find an effective solution, but to face the Greece debt crisis. "

Nomura (Nomura) analyst Sean Maloney said neighboring countries still have many problems remain to be solved in the eurozone, the euro/dollar will continue to maintain the pace of staggering.

Investec Bank (Investec) Chief Economist Philip Shaw said that "about Greece debt problem of the final conclusion is still a doubt, this uncertainty will likely continue until the end of June. Meanwhile, the market for Greece problem also remain sceptical, even if the EU has taken a bold initiative, Greece debt situation will continue to be unsustainable. ”

< P> 02:10 ', EUR/USD 1.4341/47.

United States Secretary of State Hillary Clinton to resolve the differences of views between China and the Sino US talks and confidence building bridges

Huitong network, May 9

United States Secretary of State Hillary Clinton: to resolve the differences of views between China and the Sino-US talks and confidence-building the bridge.

The White House Obama and the leaders of China discu07ed preventing Iran developing nuclear weapons, to persuade North Korea to abandon its nuclear weapons program

Huitong Network May 10

White House: Obama and the leaders of China discussed preventing Iran developing nuclear weapons, to persuade North Korea to abandon its nuclear weapons program.

Deutsche Bank Greece distance out of the eurozone is also very far away

according to the media Monday (9th) reported that Deutsche Bank (Deutsche Bank) Group of 10 global head of FX Strategy Alan Ruskin believed that Greece is far from exiting the eurozone too far.

Ruskin said: "no one wants Greece out of the eurozone, Greece didn't want to quit, wouldn't this happen in other countries of the eurozone. If Greece: how are you, first of all, should be the restructuring of its debt. Why the country is in debt to be restructured before exiting the eurozone? "

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he think:" Greece distance exit eurozone also very , Very far away. "

prior to this, Germany, local media reported 6th, Greece has been considering exiting the eurozone plan, and eurozone finance ministers meeting was held in 6th to discuss Greece environmental problems, and the possibility of debt restructuring, exit the eurozone issues.

the message after the burst, Greece one unnamed senior official of the Government immediately denied the report, and the Eurogroup President Juncker (Jean-Claude Juncker) spokesman, and Germany, and Austria and other Member States of the eurozone officials have come forward to refute rumors, to deny the accuracy of the message, and said the media the report completely untrue.

in addition, Greece Prime Minister Papandreou (George Papandreou) on Saturday (7th) also denied about Greece will leave the eurozone's report, said informal discussions on this issue have not been. He also request outsiders not to interfere with Greece to help Greece to complete a task.

Papandreou said: "such an approach close to the crime, even in informal contacts have not discussed this issue. I called on Greece and all the people in other countries, especially the European Union not to interfere with Greece, Greece peace of mind to do their thing. "

the European Central Bank (ECB), Member of the Management Committee of Finland Liikanen, Governor of the Bank (Erkki Liikanen) on Saturday also refuted the Greece reported exiting the eurozone and said Greece restructuring 327 billion euros of debt cannot completely solve its problems.

Liikanen said in media interviews: "no country wants to exit the eurozone. ”

Europe debt crisis starting point returns 1 year ago Greece intends to seek more financial aid

according to Xinhua the eurozone Member States prepared to Greece to provide further financial assistance, saying that Greece cannot be scheduled early next year from the private market financing.

Greece is far from achieving the State deficit target of budget cuts. Eurozone officials estimate that Greece 2012 additional financing of nearly 30 billion euros (about US $ 43.2 billion).

recognition money

multi-country eurozone finance ministers over the weekend acknowledged that Greece may need to be from the European Union or other international bodies for more financial assistance.

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Luxembourg Prime Minister let-Claude Juncker said: "we think Greece assistance plan does need adjustment. "

United Kingdom Chancellor qiaozhi·aosiben says, modify the Greece aid plan" inevitable ".

United Kingdom 8th comments by the financial times, Greece for further financial assistance within the analysts generally expected, but eurozone officials speak openly about it means about Greece's turning point discussions occur in the future.

amount and how to involve further aid, European officials involved in the discussion that has not made a decision. Greece's Finance Minister qiaozhi·papakangsitan Ji Nu said on 7th, Greece may apply to the total amount of EUR 440 billion (US $ 634.3 billion) "European financial stabilisation mechanism" to issue bonds to obtain additional assistance.

papakangsitanjinu, said: "we must be completed with the temporary aid mechanism in Europe from 2012 to 2013 financing, because the market does not trust us. "

This means Greece giving up plans to return to the private market by the end of this year.

avoid recombinant

alternative options for additional assistance, the Government debt restructuring, Juncker said, that option has been ruled out.

European Central Bank Jean-keluode·telixiehe EU Member aoli·leien responsible for economic and Monetary Affairs believes that possible problems of the debt restructuring will more than likely solve the problem.

most eurozone policymakers against any form of Greece debt restructuring, including moderate slightly overdue repayment of debt options. France, the European Commission and the European Central Bank believes that any default behavior will be the collapse of efforts to restore investor confidence other heavily indebted countries, especially Ireland and Portugal.

Juncker also refuted the Greece talk of exiting the eurozone, described the rumours of collapse in the 6th lead euro "stupid".

6th small informal meeting of Finance Ministers of the eurozone a participating senior officials said, inviting papakangsitanjinu participating, efforts aimed at urging him to do more to promote before the privatization of State assets and tax evasion, not to seek more aid.

return to starting point

United States the Wall Street Journal on 9th review, European debt crisis after turning in a circle return to the starting point for 1 years ago, namely, how to save Greece from funding dried up.

eurozone finance ministers scheduled for early next week in Belgium Brussels Conference is expected to discuss Greece debt burden and additional assistance needs, as well as Greece extension requirements achieve the financial goals by the Government.

papakangsitanjinu said at the 6th meeting, Greece Government cannot by plans to reduce the budget deficit in 2014 to 3% per cent of gross domestic product target, deadline be extended to 2016.

other participating Finance Ministers questioned Greece the above requirements, in particular Germany. Officials said that Germany leaders believe Greece lost to take harsh measures to reform economic and political will of the public sector, want Greece to redouble their efforts, rather than slowing down this process.

Germany past few months suggested that countries which have received financial assistance, such as Greece and Ireland, if more drastic reform measures can in terms of financial assistance to obtain concessions.

New York after hours rating agencies fear turns bombing co20odity prices rebound limited the euro declines

although about Greece exit eurozone of rumors continues to was denied, but biaopu rating due to concerns Greece debt recombinant risk rose and will its long-term sovereignty rating by BB-cut to b, short-term sovereignty rating by b cut to c, prospects prospect for negative, United States period disk in the has media said, Hui reputation are consider will Greece rating by BB+ cut to b or b-, rating was return for observation list, has cut risk, and Moody's will Greece of B1 currency, and foreign currency bonds rating are into observation list. Major non-US currency in the United States decreased early are subject to increased risk aversion by suppressing, but intraday rebound in crude oil prices, US stocks extended their run and maintained to close, commodity money remains the biggest beneficiary of after market sentiment improved, euro and pound following the rally. Due to other rating agencies, there has been a downturn Greece rating of intention, if Greece did not improve in the short term the problem of the possible downward again after following the biaopu other rating agencies may make the market sentiment continued to pressure the dollar while continuing to support the risk aversion in the market, major non-US currency is likely to continue performance under pressure. Crude oil prices plunged last week rebounded on Monday after returning to above $ 100, the dollar index in Greece after downgrade chonggao to fall, rebound in the dollar index could further and, ultimately, reversal may still need further observation, Greece debt crisis development of probably the most important determinant of market sentiment in the near future. (Neal)

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United States period data and event: Canada April new housing started 179,000, Qian value 185100, expected 184,000.

in Asian data and events: 06:45 New Zealand April rate of credit card spending months; 07:01 United Kingdom April BRC with stores and general retail sales annual rate; 07:01 United Kingdom 4 month RICS house price indices for the three month; 09:30 Australia March trade account; 10:00 April trade account in China.

biaopu cut Greece rating suppressed euro/dollars in United States period early disk by 1.44 near fell to low 1.4253, European three large stock index are received fell, but disk in the crude oil price and the upside rebound support currency rebounded to Asia City early disk of 1.436 near, day figure random index downward to Super sold level 後 tendencies rebound, currency in 50 daily line and the day figure poly plus channel bottom was support 後 does not excluded finishing decline even in market emotional improved Shi further rebound of may, rebound preliminary concern yesterday high 1.4441.

despite Greece rating cut continues to for dollars provides must support, but commodity price and upside of rebound still for market emotional provides support, dollars index recorded was rebound high 75.16 後 continued down, dollars/Yen also by 80.75 near continued down to Asia City early disk of 80.2 near, day figure rebound again by 5th averages suppressed and continued downward trend, if again fell below 80 support will concern last week low points 79.56.

Greece rating was cut also makes pounds/dollars in United States period early disk since 1.637 near sharp fell, currency in 1.627 near recorded was down low points 後 followed crude oil price and stock market strong rebound to Asia City early disk of 1.64 near, day figure test 50 daily line 後 substantially rebound, random index touched Super sold 後 began rebounded, currency short-term does not excluded finishing decline even further rebound of may, market emotional changes remains currency concern of focus.

Greece rating was cut also drag commodity currency down, AUD/dollars in United States period early disk has down test 1.0707, but disk in the followed crude oil price strong rebound 後 in Asia City early disk test 10th averages near level, day figure random index currently has built end rebound signs, if Shang breaking 10th averages resistance may recovery uplink and links to 1.1 near level, market concern Asia of Australia trade account and the China data and the corresponding of market emotional changes.

Australian recruitment data slight performance benefit the Australian dollar against the US dollar rally

Monday (9th) because Australia recruitment data well, coupled with the market expected Chinese imports will continue to grow, AUD/USD rose modestly.

Australia New Zealand Bank (ANZ) published data show, Australia Lee April ANZ total number of job advertisements averaged 197,637, representing a growth of 20.5%.

at the same time, Chinese Customs will be Tuesday (10th) April trade data. Economists expect Chinese imports in April annual rate to grow 28.9%, 29.5% per cent growth in exports, trade surplus will increase to us $ 3.2 billion.

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BA grams Barclays Capital (Barclays Capital) analyst David Forrester pointed out that If China and the United States economic data continued to show solid economic recovery forward, Australian dollar/US dollar is expected to continue to rebound this week.

period in New York on Monday, Australian dollar/US dollar in early trading higher shock, midday high consolidation, continue to rise in late.

from a technical point of view, date line 5th averages across 10 averages leased on short term it is difficult to get out of the sharp rebound resistance 1.0820,1.0860; support 1.0721,1.0687.

6:15 ', AUD/USD 1.0784/89.

Greece will leave the eurozone in dollar continue to were boom

Friday the United States April unemployment rate unexpectedly climbed to 9%, while employment increased more than expected sentiment still remain good, but there have been reports in Greece will exit and recovery in the eurozone currency, fears emotions surged euro again wounded, and strong dollar continued to rise. United States media reported in the period, Greece not only need to consider debt restructuring, the Government has possibility of exiting and to restore the national currency of the eurozone. Euro following Thursday by Trichet moderate of Central Bank statement suppressed 後 again sharp fell, of 後 about eurozone finance ministers Beijing time Saturday at two o'clock in the morning in Luxembourg on Greece exit eurozone held emergency meeting of message also was confirmed, previously by United States non-agricultural report support substantially rose of upside also continued back spit rally, commodity price of fell also drag AUD, commodity currency down, dollars due to unemployment accident rose chonggao down 後 again was strong support. Market risk sentiment has gone through all the reversed this week, today Euro figure at the top for five consecutive days after cross star recorded the final collapse, since the pace of increase since the beginning have been disrupted, the market may now need to consider market risk aversion continues to strengthen against the dollar continued to support. Previously Fed President Bernanke in Central Bank meeting 後 continues to let go let dollars devaluation, facts indicates that, in euro rise on eurozone national economic formation challenge 後, Trichet also will make use of an opportunity to do sth suppressed euro, and Greece problem deterioration absolute surprise fed accident, us means by Greece rumors support substantially Shang breaking 20th averages 後 close day figure downward trend line, dollars is has built end rebound still required concern weekend about Greece aspects of message, market emotional is continued downturn help push dollars rebound may remains need concern of focus. (Neal)

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United States period data and event: United States April non-agricultural employment number changes increased 244,000, unemployment by 8.8% rose to 9% , United States March consumer credit $, Canada April unemployment rate dropped from 7.7% per cent, employment increased 53,800.

in Asian data and event next week: the Central Bank announced April-6 Conference record, Australia April job advertisements monthly rate and annual rate.

United States April non-agricultural employment number substantially increased of while unemployment is accident rose to 9%, euro/dollars in data 後 once down test 1.4456 but with 後 rebound to 1.4573, disk in the market rumors Greece will exit eurozone, euro again continued tumbled test low 1.4314, day figure random index tendencies continues to downward, currency strong decline short-term tendencies links to is located in 1.4267 of 50 daily line and the day figure poly plus channel bottom.

dollars/Yen in United States employment number large increased 後 since 80.3 near sharp rise to 80.94, currency with 後 down but dollars continues to in Greece exit eurozone rumors of support Xia strong rise, currency in closed Qian rebound to 80.6 near, day figure rebound temporarily by limited to continued suppressed currency of 5th averages, day figure random index tried to rebound, if breakthrough the 5th averages resistance further rebounded will concern 10th averages.

pounds in is good or bad varies of United States non-agricultural data 後 is first fell 後 rebound, currency once test 1.6463, despite Greece exit eurozone of rumors suppressed market emotional, but Euro/pounds of substantially fell for currency provides must support, pounds small down test 1.6355 後 in closed Qian again rebound returned to 1.64 near, day figure short-term like has holding stability signs, random index also downward close Super sold level, currency short-term does not excluded finishing of May.

AUD/dollars in non-agricultural data 後 directly since 1.067 document rise test 1.08, upside strong rise over 1% 後 was Greece exit eurozone rumors suppressed back spit most gains, commodity price down Shi AUD and other commodity currency also together amendment to 1.066 near, AUD/dollars day figure temporarily like has completed amendment, but still required concern risk emotional of further changes, rebound preliminary resistance concern 20th averages.