Sound financial future

"I realized several years back the FOREX is the best opportunity available to every day people like me to build a sound financial future. See you in the trade rooms.""2006 is the year of financial freedom for me - "I can feel it in my bones." I know it's coming and I know that forex trading is the key. Once I learn to master this skill my life never be the same - none of our lives will.""I'm 18 years old, and im interested in doingcurrency trading. I have no previous experience in FX training, trading, or any other type related to this, but i hope to catch on quickly. I've wanted to invest in real estate since I was 14, and have studied it on and off since then, but I think this is agreater financial and career establishing opportunity, and im trying to learn as much as I can.""I have no experience in the financial world I don't even balance the check book! BUT I do know that I can do this and so can you!! So far I have been successful...I promise its not hard.""I come into this enterprise with miniscule experience as a trader and just enough knowledge about fx to lose my shirt in 5 minutes or less. I’m here to learn a workable system for foreign exchange trading. I like the concept of being ableto make money from anywhere I can take my laptop.""I am new to forex trading. My expectation in this course is to build a base of understanding and knowledge of the forex exchange. My goal is to learn how to trade effectively to retire from my 9-5 within the next three years if not sooner. My challenge is to leave emotions out and follow the fundamental rules to become a successful trader.""I have been with FXT since February 2005 and have enjoyed the program very much. My wife and I have been busy learning how to be successful traders over the last few months. Our goals are to become financially successful so we can provide more for our church and spread the Lord's word acorss the world. May God bless us all abundantly through this wonderful program.""I am new to Forex Trading. I've played the HYIP game and I look forward to learning a skill that will provide me the opportunity to be successful based on how I apply what I have learned. Success is a choice and I plan on being successful.""I am a retired airline pilot who has done a little commodity trading in the past, however, have always been very intrigued by the FX market. Now that I have completed the beginner's and advanced training from FXT, I am doing a review with the new Interactive Training Modules. I'm pleased to report that I am already having success in live trading, and am VERY excited about the FX market and the FXT products and business!What a fantastic opportunity!""I am looking forward to learning and trading the forex market. Some years ago, I traded options with some success, but discovered the forex market could be more rewarding. So looking forward to learning.""I joined one month ago and have been in corporate chat rooms. I am up over 130 pips and really just learning! I spent over $7000 on other systems and training and couldn't make money. FXT is FANTASTIC!""I found out about forex while looking for a new career. I have bookkeeping experience but thats about it! I love the concept of this type of trading and look forward to learning the skills and "enjoying the game"."I'm very excited to learn about Forex. I want to build my skills so that I can generate enough from Forex to raise my kids and sustain a nice life style as well as have time to help others.""I started with FXT about 3 weeks ago and I am excited to have an opportunity to learn how to be a FX Trader the right way. At 58 I feel like I am going to college for the first time, but my mentor has made me feel quite comfortable here. I feel I have finally found a home with FXT and working in the FX currency market.""I am looking forward to opportunity and education that is offered by FxT. The interaction that the business provides through this learning center and the potential for positively changing your life is exciting."The global Forex market which is widely known as the foreign exchange or the currency trading market has become one of the most popular markets to deal with in the last few years. With the increase in the global economy, a lot of people have started trading in Forex. Prior to this, the economy was not spread over all the countries. It is now possible for people to convert large sum of money into different currencies. This market is the largest in the world and includes all kinds of investors including banks, other financial institutions and other individual investors. The daily volume of trade in the forex market exceeds four trillion dollars and hence it appears to be quite a lucrative market to venture in.There are quite a few things that would separate the forex trading from the conventional markets. The trading volume differs greatly and then follows the other factors such as the exchange rates and lower profits. Hence a lot of people are turning towards the global foreign exchange market to beat the competition and this market has a demonstrated track record of its increase since 2001.The other way in which the forex market differs from the traditional market is that here the inter-bank market is at the top of the pyramid. Unlike the stock options, the investors to not have a same access to all the prices. It differs greatly. As the level of access is decreased, the difference between the asking price and the bidding price also increases. Hence it is still possible for someone with lower access to earn large amounts of money.At the same time as there is no central market involved in forex, there are no specific regulations that control the exchange. Global trading system in forex includes quite a lot of countries and hence compiles an intertwined market. Therefore there is not much of the single trading system here considering the scores of different prices and rates. These differences in the exchange have a direct effect on the gross domestic product, the inflation rates as well as the trade and the budgets of the economic transactions.There are a lot of people who plunge into the forex trading market in order to invest large sum of money and with the intention of making more money from it. This financial market is still on a rise, despite the recessive economy all around the world. A lot of new invest

Foreign exchange markets

Forex trading also known as currency trading refers to a series of transactions on foreign exchange markets used by investors for speculative or hedging purposes. A basic forex transaction consists in the simultaneous buying and selling of one currency against another. Currencies are thus traded in pairs (majors or crosses) for instance: the Euro against the US Dollar (EUR/USD) or the British Pound against the US Dollar (GBP/USD). For example, buying the pair EUR/USD at 1.3305 means that you need 1.3305 USD to buy one euro.Trading forex can also be described as speculating on the direction of one currency against another. You make profit when the market moves in your favor and you lose if the market moves against you. For example, you'll buy EUR/USD if you think that the Euro will strengthen against the US Dollar. Conversely, if you think the Euro will weaken compared to the US Dollar, then you will sell EUR/USD.Although it may seem easy at first glance, there is much more to forex than meets the eye. Predicting market moves is a complicated matter and that's why Finotec has its own online forex Education Center where you can learn Forex. With Finotec, you may also practice online trading by opening a Forex Demo Account. The simulation platform will allow you to trade with virtual money in real market conditions. Once you have acquired the skills to trade, use our wide range of tools and indicators to make wise and informed decisions for successful online forex trading.Forex: the largest financial market!The investor's goal in Forex trading is to profit from foreign currency movements. Forex trading or currency trading is always done in currency pairs. For example, the exchange rate of EUR/USD on Aug 26th, 2003 was 1.0857. This number is also referred to as a "Forex rate" or just "rate" for short. If the investor had bought 1000 euros on that date, he would have paid 1085.70 U.S. dollars. One year later, the Forex rate was 1.2083, which means that the value of the euro (the numerator of the EUR/USD ratio) increased in relation to the U.S. dollar. The investor could now sell the 1000 euros in order to receive 1208.30 dollars. Therefore, the investor would have USD 122.60 more than what he had started one year earlier. However, to know if the investor made a good investment, one needs to compare this investment option to alternative investments. At the very minimum, the return on investment (ROI) should be compared to the return on a "risk-free" investment. One example of a risk-free investment is long-term U.S. government bonds since there is practically no chance for a default, i.e. the U.S. government going bankrupt or being unable or unwilling to pay its debt obligation.

A new wave of positive reports moved markets this week

The Brazilian currency ended a third week of straight gains versus the greenback, the pound and several other major currencies as optimism and risk appetite is pushing traders to inject money in South America’s wealthiest economy.A new wave of positive reports moved markets this week, causing equities and commodities to rise globally, favoring the outlook for the Brazilian currency and economy, since most of the nation’s exports are commodity-based, influencing the real’s performance as demand fluctuates. Risk appetite also brought investors to inject capital in real-priced assets, as interest rates in Brazil remain among the highest in the world and a series of IPOs is likely to move markets in Brazil until the end of the year. The Brazilian real also touched the highest level in 10 years versus the British pound as the financial system is the U.K. is struggling to recover from the credit crunch.Analysts refer real’s consecutive weekly gains partially to capital inflow towards the South American nation, which is experiencing a bullish market as risk appetite provided support for Bovespa, Sao Paulo stock exchange to climb severely, since it bottomed in the first quarter facing the consequences of the global slump. The forecast for the real remains optimistic, and further gains can be expected if the economy continues on its recovery path.USD/BRL closed the week at 1.8039 from an opening price of 1.8060 yesterday. GBP/BRL traded at 2.9555 from 2.9686.If you want to comment on the Brazilian real’s recent action or have any questions regarding this currency, please, feel free to reply below.

world's financial

(NAPSI)-The U.S. economy may be down--as well as the rest of the world's financial markets--but banks are hiking their fees again and Americans struggling through these tough times are the ones taking the hit to their wallets. The decision by several large national banks to hike credit card interest ratePrepaid re loadable debit cards offer the best financial management option today. Consumers are looking for a system to help them pay bills, make purchases and save money, and prepaid debit cards help by giving users control of their spending.Meanwhile, bank customers are continuing to be heavily affected by increased fees and interest rate hikes. According to the Federal Deposit Insurance Corp., last year, United States banks and savings institutions collected $39.5 billion in deposit-account charges. In addition, research firm Moebs Services, Inc. found that the financial industry's median overdraft charge has increased 10 percent--to $27.50--in the six months since banks began receiving money under the Troubled Asset Relief Program (TARP), a program started last year by the U.S. government to purchase assets and equity from financial institutions in order to strengthen the financial sector.Prepaid debit cards are the viable alternative to the fees and interest rates that consumers are currently paying. These cards are able to offer many of the benefits of the larger banks--online access and bill pay, instant account alerts--and even some that banks can't, such as a savings account with a 5 percent annual percentage yield.While banks are taking more money out of Americans' wallets, NetSpend prepaid debit cards are helping people put that money back, and even providing them with money management tools and features that enable them to better track spending and put money away for the future.XTRL, what does is mean? Where did this term come from? XTRL it is an old acronym for Control. It can be used interchangeably with CTRL. This site is about taking charge of your surroundings and having more to say about what goes on in your life. From what you buy to how much you pay in taxes, even funeral expenses, you can have more control over your situation no matter what that might be If you want more input over the decisions others are making for you then you should find this web site helpful. We can show you how to save money and time. and take back XTRL.

The pound fell to the lowest level

The Great Britain pound dropped to the lowest rates in several years against the dollar and the yen and the weekly low against the euro today after the BoE Governor Mervyn King said that the recession is very likely due to the worst banking crisis since World War I.The pound fell to the lowest level since September 2003 against the U.S. dollar as the investors expected the first year with the negative GDP change in more than 17 years. Traders also react on the expectations of the minutes of the last interest rate meeting by the Bank of England that will be released today.The traders also expect that the current interest rate of 4.5 percent will be cut soon; the total cut may reach 2 percent in one year. A return to $1.5 per pound rate doesn’t look improbable now.GBP/USD fell from 1.6694 to 1.6298 as of 8:28 GMT today, reaching the daily minimum at 1.6203. GBP/JPY declined from 167.53 to 161.55 today, losing more than 3.5% in a single trading session and reaching the lowest level since December 2000. EUR/GBP rose from 0.7820 to 0.7904 today.Traders on the Foreign Exchange market, Forex market for short, can potentially make thousands of dollars based on the volatility and fluctuations of a country’s currency. To better themselves and have a leading advantage over other traders, some Forex traders and investors participate in a practice known as news trading. The risks are very high, but the potential gains can be worth thousands of dollars and many traders and investors use this technique.The technique of news trading is quite simple. It is the trading of foreign currency immediately before or after an important economic news announcement. After such announcements, there is a high possibility that market prices will fluctuate, either for the better or worse, depending on the announcement. For example, if the U. S. Federal Reserve announces another increase of the interest rate, many traders might invest in the U.S. dollar as it is expected that its value will appreciate. The main advantage of news trading is the potential for a country’s currency to make huge gains or losses in very little time. Within minutes of an economic announcement, a country’s currency can gain or lose one hundred points almost instantly. The potential of huge profits attracts Foreign Exchange traders and investors, however there are various risks associated with news trading.Like any investment, there is always a risk, and news trading on the Forex market is no different. Though the potential profits are huge, the losses are also equally as large. The dangers of news trading come from the fact that a trade must be made quickly or else you are going to lose. If you are caught on the bad side of a trade, your money will be gone quicker than you can blink your eye. You will lose money so fast that there won’t even be time for you to manually close your trades, leaving you with nothing. Stop-loss orders are also potentially dangerous as there is a high probability of slippage because of the sudden price fluctuation.Though some investors and traders might get lucky trading news, there is only a small probability that you will make a profit. Even if you are an expert news trader, you should still be very, very cautious when participating in this practice. Successful news trading depends solely on how you get your news. The most successful news traders are the ones with the fastest news feeds and those that are able to quickly place their trades immediately after an announcement has been made. Even using other forms of news trading, such as placing orders above or below the market price is still a guessing game, and those traders in the market who base their trades on guesses, won’t have much money after a short time.For many Forex traders and investors, their trades are dictated by technical indicators and price indexes. Hours are spent researching every indicator, taking every risk into account and then making a decision based on everything they have studied. However, for a Forex news trader, none of this matter, and the only thing they take into account is economical news announcements.News trading is possible because the Forex market is always open, unlike many financial markets. In a financial market, securities trades of certain stocks are suspended when an important company announcement is being made. These announcements are usually made after the market has closed for the day. However, because the Foreign Exchange market is open 24 hours, any economic announcement will have direct affects on the currency of that country, and maybe others as well. In the Forex market, there are eight major currencies that are traded, as well as over seventeen derivatives to be traded as well. This means that on any given day, there will always be economic announcements from any of the major traded currencies. The major trader currencies are as follows:U.S. Dollar (USD)Great British Pound (GBP)Euro (EUR)Japanese Yen (JPY)Australian Dollar (AUD)Swiss Franc (CHF)Canadian Dollar (CAD)New Zealand Dollar (NZD)Because of the availability of each currency, currency pairs, and its derivatives, such as USD/JPY, EUR/USD, AUD/USD, as well as several others, each currency can be traded at any given time because these currencies are globally traded.Any Forex news trader or news investor will have to have the latest most up to the moment news announcements. Even if the news announcements are only a couple of minutes old, this can have devastating effects for any trader who has risked any sum of money. Most news traders like to keep an eagle eye on any news regarding economical activity, but most importantly news dealing with interest rates changes, FOMC rate decisions, retail sales figures, inflation indicators such as the consumer price index (CPI), producer price index (PPI), unemployment figures, industrial production announcements, boost in business and consumer confidence, as well as business sentiment surveys. Manufacturing sector surveys, trade balance release details, and foreign purchases of U.S. Treasuries may also prove useful for a news trader to better make decisions regarding when or when not to trade.However, it should be remembered that these news announcements can have ranging impacts on a country’s currency, and after an announcement, the volatility of a currency may greatly fluctuate. It is important to take advantage of news that creates movements in volatility that will last for a few minutes or even hours. Trading on the Forex market based solely on news is a difficult and sometimes dangerous practice. However, there are some indicators that can make a news trader’s job easier, such as breakout indicators (Bollinger bands, breakout of a candlestick bar, or a price bar). Research has proved that news announcements can impact a currency’s value quite severely, in some cases it can gain or lose anywhere from 33 pips to 124 pips, opening up the ideal trading opportunity looked for by news traders. If a news trader is able to act quickly enough, even the smallest news release can be turned into a potential profit of thousands of dollars. However, it is important to remember the volatility of such announcements, and although the profits seem endless, the losses can happen too.Tags

Internet Marketing

Making money an easier way is every ones desire, whether new to Internet Marketing, or someone still struggling. There are many ways to make money online, but you need the right program, and a way to stand out in the crowd. I thought it would be helpful to my readers if I looked into programs that say they have an easy way to make money on the internet, and give you my view of some of them. So my first review is on World Profit, which has been around for 14 years and still growing. But before I do that, I’d like to say, there are a lot of people who have been marketing online with little or no success, because of the lack of getting the right type of traffic to their website. I mean traffic of buyers, not just lookers. The key is starting with a program that best fits your experience and skill level, where you get the right training and guidance. If you are new to Internet Marketing you’re foolish to do it alone. Those who have been struggling know what I mean. We’ll need a website, domain, traffic, and training, so it’s good to look for a program that provides all of that. Seasoned Internet Marketers need to learn methods to generate leads. General information on Internet Marketing can be found on my blog post, along with information on Affiliate Marketing. Now about World Profit, let me first say what is good about this opportunity. World Profit by far offers the easiest program to build a successful internet business. Their 14 years of internet business knowledge makes it possible to take someone with no or little experience, and train them to build a successful online business

Asian markets

Asian markets ended lower Thursday, with the strong yen hurting exporters in Tokyo while capital-raising worries and a disappointing Hong Kong debut for China Minsheng Banking Corp. hurt Chinese banks. The Nikkei 225 Average fell 0.6% to 9,383.24, China's Shanghai Composite tumbled 3.6% to 3,170.98 and Hong Kong's Hang Seng Index shed 1.8% to 22,210.41. Australia's S&P/ASX 200 slipped 0.3%, South Korea's Kospi lost 0.8% and Taiwan's Taiex dropped 0.2%. In afternoon trading, India's Sensex was down 2.1% and Singapore's Straits Times Index declined 1.1%. In Tokyo, auto and technology stocks fell after the U.S. dollar dropped to a 14-year low against the yen. Shares of Toyota Motor fell 1.2%, Canon Inc. declined 2.1% and Sony shed 1.9%. "This yen strengthening is caused by dollar selling rather than yen buying, so this is not something Japan can handle by itself," said Mizuho Securities senior technical analyst Yutaka Miura. "This trend will continue unless the Japanese government takes action, in cooperation with the U.S." News of Dubai asking for a creditor standstill at Dubai World and Vietnam's currency devaluation increased investors' aversion to risk. Andrew Sullivan, a sales trader at Main First Securities, said the regionwide decline in markets is likely only a temporary correction, given improving economic data on exports. "The macro picture of U.S. recovery and restocking is going to show you that there's an increase in the short-term exports out of Asia to do that restocking. Hence, it'll be unlikely that Asian markets collapse while exports are actually rising," he said. Vietnam's VN Index tumbled 4.1% to 482.6, after the nation's central bank devalued the currency by around 5% against the U.S. dollar and raised interest rates by a percentage point to 8% from Dec. 1. Chinese stocks fell sharply during the session, with banks again taking some harsh treatment amid worries regulators may beef up capital requirements, forcing banks to sell shares to raise funds. "We're in the period when we're still waiting for signs of policy change from Beijing," with Chinese leaders set to meet in the next few weeks to decide on next year's economic blueprint, said Huatai Securities analyst Chen Huiqin. Bank of China fell 2.9%, China Construction Bank dropped 3.6% and China Citic Bank Corp. gave up 1.7% in Hong Kong, extending a two-session losing streak; in Shanghai, the stocks fell 3.5%, 3.4% and 3.3%, respectively. On its trading debut, China Minsheng Bank lost 3.1% from its initial public offering price of 9.08 Hong Kong dollars, reflecting sector weakness, to end at HK$8.80. Minsheng's Shanghai-listed stock tumbled 5.7% on the disappointing Hong Kong debut, which came in spite of the IPO being heavily oversubscribed. Helping to narrow regional losses, gold and mining stocks got a fillip after the yellow metal logged yet another record high, boosted by continued weakness in the U.S. dollar. "There are also hopes for solid long-term demand as the governments of China, India and other newly emerging economies are trying to raise their gold holdings," said Credit Suisse analyst Shinya Yamada. In Sydney, Newcrest Mining rose 2.8% and Lihir Gold tacked on 0.6%. In Hong Kong, Zhaojin Mining Industry rose 1.2% and Shandong Gold-Mining added 2% in Shanghai, while Sumitomo Metal Mining added 1.7% in Tokyo. Separately, liquid crystal display stocks rallied on hopes that Innolux's recent purchase of Chi Mei Optoelectronics will spur further industry consolidation. AU Optronics rose 2.4% and Chunghwa Picture Tubes gained 3.8% in Taipei, while LG Display added 0.2% in Seoul. Hynix Semiconductor rose 1.1%, aided by news that its creditors have decided to send invitations seeking bids for their combined 28% stake in the chipmaker on Dec. 20. Elsewhere, New Zealand's NZX 50 rose 0.4% and Philippine shares advanced 0.8%. Indonesia's benchmark index fell 2.8% and Thailand's SET Index lost 1.4% in afternoon trading. In foreign-exchange markets, the euro and U.S. dollar struggled against the yen. The euro was recently at 131.04 yen from 132.25 yen late in New York, and at $1.5086 from $1.5143 late in New York. The U.S. dollar was at 86.83 yen recently, from 87.33 yen. Earlier, the U.S. unit dropped to 86.29 yen, its lowest level since 84.92 yen marked on July 7, 1995. The yield on 10-year Japanese government bonds fell 1.5 basis points to 1.280%, while the lead December JGB futures contract closed at 139.50, up 0.15 point. Spot gold continued its record run, touching a high of $1,195.10 a troy ounce, before slipping back. It was recently at $1,184.40, down $7.70 from New York levels. RBS head of precious metals Charles Dowsett said news of Sri Lanka's central bank buying 10 tons of gold from the International Monetary Fund was a sign of reserve diversification. "The economic news from the U.S. is still bad, so it's prudent for central banks to diversify dollar holdings," he said. January Nymex crude oil was 95 cents lower at $77.01 per barrel. U.S. markets are closed Thursday, and will reopen Friday. -Dow Jones Newswires; +65-6415-4140; markettalk@dowjones.com TALK BACK: We invite readers to send us comments on this or other financial news topics. Please email us at TalkbackAsia@dowjones.com. Readers should include their full names, work or home addresses and telephone numbers for verification purposes. We reserve the right to edit and publish your comments along with your name; we reserve the right not to publish reader comments. Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=no%2F1TU6xfjkV4lOyprHpaQ%3D%3D. You can use this link on the day this article is published and the following day. (END) Dow Jones NewswiresNovember 26, 2009 04:31 ET (09:31 GMT)Copyright 2009 Dow Jones & Company, Inc.

Asian markets

Asian markets ended lower Thursday, with the strong yen hurting exporters in Tokyo while capital-raising worries and a disappointing Hong Kong debut for China Minsheng Banking Corp. hurt Chinese banks. The Nikkei 225 Average fell 0.6% to 9,383.24, China's Shanghai Composite tumbled 3.6% to 3,170.98 and Hong Kong's Hang Seng Index shed 1.8% to 22,210.41. Australia's S&P/ASX 200 slipped 0.3%, South Korea's Kospi lost 0.8% and Taiwan's Taiex dropped 0.2%. In afternoon trading, India's Sensex was down 2.1% and Singapore's Straits Times Index declined 1.1%. In Tokyo, auto and technology stocks fell after the U.S. dollar dropped to a 14-year low against the yen. Shares of Toyota Motor fell 1.2%, Canon Inc. declined 2.1% and Sony shed 1.9%. "This yen strengthening is caused by dollar selling rather than yen buying, so this is not something Japan can handle by itself," said Mizuho Securities senior technical analyst Yutaka Miura. "This trend will continue unless the Japanese government takes action, in cooperation with the U.S." News of Dubai asking for a creditor standstill at Dubai World and Vietnam's currency devaluation increased investors' aversion to risk. Andrew Sullivan, a sales trader at Main First Securities, said the regionwide decline in markets is likely only a temporary correction, given improving economic data on exports. "The macro picture of U.S. recovery and restocking is going to show you that there's an increase in the short-term exports out of Asia to do that restocking. Hence, it'll be unlikely that Asian markets collapse while exports are actually rising," he said. Vietnam's VN Index tumbled 4.1% to 482.6, after the nation's central bank devalued the currency by around 5% against the U.S. dollar and raised interest rates by a percentage point to 8% from Dec. 1. Chinese stocks fell sharply during the session, with banks again taking some harsh treatment amid worries regulators may beef up capital requirements, forcing banks to sell shares to raise funds. "We're in the period when we're still waiting for signs of policy change from Beijing," with Chinese leaders set to meet in the next few weeks to decide on next year's economic blueprint, said Huatai Securities analyst Chen Huiqin. Bank of China fell 2.9%, China Construction Bank dropped 3.6% and China Citic Bank Corp. gave up 1.7% in Hong Kong, extending a two-session losing streak; in Shanghai, the stocks fell 3.5%, 3.4% and 3.3%, respectively. On its trading debut, China Minsheng Bank lost 3.1% from its initial public offering price of 9.08 Hong Kong dollars, reflecting sector weakness, to end at HK$8.80. Minsheng's Shanghai-listed stock tumbled 5.7% on the disappointing Hong Kong debut, which came in spite of the IPO being heavily oversubscribed. Helping to narrow regional losses, gold and mining stocks got a fillip after the yellow metal logged yet another record high, boosted by continued weakness in the U.S. dollar. "There are also hopes for solid long-term demand as the governments of China, India and other newly emerging economies are trying to raise their gold holdings," said Credit Suisse analyst Shinya Yamada. In Sydney, Newcrest Mining rose 2.8% and Lihir Gold tacked on 0.6%. In Hong Kong, Zhaojin Mining Industry rose 1.2% and Shandong Gold-Mining added 2% in Shanghai, while Sumitomo Metal Mining added 1.7% in Tokyo. Separately, liquid crystal display stocks rallied on hopes that Innolux's recent purchase of Chi Mei Optoelectronics will spur further industry consolidation. AU Optronics rose 2.4% and Chunghwa Picture Tubes gained 3.8% in Taipei, while LG Display added 0.2% in Seoul. Hynix Semiconductor rose 1.1%, aided by news that its creditors have decided to send invitations seeking bids for their combined 28% stake in the chipmaker on Dec. 20. Elsewhere, New Zealand's NZX 50 rose 0.4% and Philippine shares advanced 0.8%. Indonesia's benchmark index fell 2.8% and Thailand's SET Index lost 1.4% in afternoon trading. In foreign-exchange markets, the euro and U.S. dollar struggled against the yen. The euro was recently at 131.04 yen from 132.25 yen late in New York, and at $1.5086 from $1.5143 late in New York. The U.S. dollar was at 86.83 yen recently, from 87.33 yen. Earlier, the U.S. unit dropped to 86.29 yen, its lowest level since 84.92 yen marked on July 7, 1995. The yield on 10-year Japanese government bonds fell 1.5 basis points to 1.280%, while the lead December JGB futures contract closed at 139.50, up 0.15 point. Spot gold continued its record run, touching a high of $1,195.10 a troy ounce, before slipping back. It was recently at $1,184.40, down $7.70 from New York levels. RBS head of precious metals Charles Dowsett said news of Sri Lanka's central bank buying 10 tons of gold from the International Monetary Fund was a sign of reserve diversification. "The economic news from the U.S. is still bad, so it's prudent for central banks to diversify dollar holdings," he said. January Nymex crude oil was 95 cents lower at $77.01 per barrel. U.S. markets are closed Thursday, and will reopen Friday. -Dow Jones Newswires; +65-6415-4140; markettalk@dowjones.com TALK BACK: We invite readers to send us comments on this or other financial news topics. Please email us at TalkbackAsia@dowjones.com. Readers should include their full names, work or home addresses and telephone numbers for verification purposes. We reserve the right to edit and publish your comments along with your name; we reserve the right not to publish reader comments. Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=no%2F1TU6xfjkV4lOyprHpaQ%3D%3D. You can use this link on the day this article is published and the following day. (END) Dow Jones NewswiresNovember 26, 2009 04:31 ET (09:31 GMT)Copyright 2009 Dow Jones & Company, Inc.

Businesses and households in euro zone

Lending to businesses and households in the euro zone fell again in October to a new record low, the European Central Bank said Thursday. Credit to the private sector was down 0.8% in seasonally adjusted terms from a year earlier, the ECB said, after a 0.3% decline in the year through September. Chiefly responsible for the development was the weakness of corporate lending, which dropped 1.2% year-on-year, compared with a 0.2% decline in September. The global financial crisis and subsequent recession have led to the sharpest drop in credit growth in recent history. Corporate demand for investment finance has shrunk, while banks that are struggling to repair their balance sheets have become reluctant to lend. The ECB's most recent Bank Lending Survey had suggested that credit conditions had more or less stopped tightening in the third quarter. However, a high base level of lending volumes a year ago has ensured that the year-on-year rate continues to drop. However, the decline in credit to households eased marginally during the same timeframe to 0.1% from 0.3%. The decline in loans for purchases, in particular, slowed to 0.2% year-on-year, after a drop of 0.6% in the year through September. The credit data were part of the ECB's broader M3 data for October, which likewise registered a new record low since the single currency's introduction in 1999. M3 money supply grew only 0.3% in October, a slowdown from 1.8% in September and well below the reference 4.5% growth rate that the ECB believes is consistent with stable prices. It again undershot analysts' expectations, which had been a growth rate of 0.7%. M3 consists of cash in circulation, most sight and savings deposits and money market fund assets. The three-month average annualized growth rate, which evens out some of the more short-term fluctuations in the aggregate, also slowed to 1.6%, just below consensus forecasts of 1.7%. Growth in the narrower M1 monetary aggregate, which consists of only cash in circulation and overnight deposits, also slowed slightly in October, to a seasonally-adjusted 11.8% from 12.8% in September. Many analysts believe M1 to be a more accurate forward-looking indicator of economic activity in the euro zone and have cited its consistently strong growth throughout the summer as proof that the ECB's exceptional stimulus measures is succeeding in supporting the economy. Web site: www.ecb.int -By Geoffrey T. Smith, Dow Jones Newswire (+49 69) 29725-520; geoffrey.smith@dowjones.com Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=no%2F1TU6xfjkV4lOyprHpaQ%3D%3D. You can use this link on the day this article is published and the following day.

Bank of japan

Minutes from October’s Bank of Japan monetary policy meeting revealed the central bank will maintain an “accommodative” financial environment and is prepared to reinstate emergency programs to buy corporate debt if additional support to business lending is required. That said, policymakers reiterated that, in spite of a number of downside risks, the economy remains on a path to sustainable growth. The language suggests the BOJ is paying lip service to the government’s insistent calls for the central bank to deal with deflation in a bid to keep the central bank’s asset-buying programs in place. These programs have been a source of persistent tension between the BOJ and the Ministry of Finance, with the BOJ eager to unwind them while the MOF prefers to see them continue as a way for the government to keep long-term borrowing costs in check as it prints bonds to cover Japan’s soaring budget deficit.
For their part, the Japanese government seemed more concerned with the exchange rate as the Japanese Yen traded to a 14-year high against the US Dollar. Cabinet Secretary Hirofumi Hirano said the administration was closely watching developments in the FX markets, while Finance Minister Hirohisa Fujii went a step further to say that action needs to be taken against “abnormal” currency movements. It is unclear if this is a toothless attempt to talk down the Yen or whether actual intervention is ahead, but traders were indifferent to the announcement with USDJPY moving up a mere 12 pips as the comments crossed the wires before resuming a plunge below the 87.00 level.
In Australia, Private Capital Expenditure tumbled -3.9% in the third quarter, sinking expectations of a 1% advance. However, the Australian Bureau of Statistics noted that it made a number of changes in the way the metric is computed, saying that “caution should be exercised in using [this data] as an indicator of [business investment as a portion of GDP].” This means the drop-off may not keep the central bank from raising interest rates again in December. Still, traders were noticeably spooked by the announcement, with a Credit Suisse gauge of priced-in rate hike expectations showing investors now see the probability of a third consecutive 0.25% increase at 65%, down from 76% yesterday

Unemployment report

The major currency pairs teetered within a close range in the Friday session, whipsawing sharply following the release of the October US unemployment report. The euro slid from above the 1.49-level to a session low at 1.4814 while the yen jumped to 89.62 against the greenback.The October labor report was worst than expected, with the unemployment rate climbing to a fresh 26-year high at 10.2% versus 9.8% from September. The non-farm payrolls figure revealed a loss of 190k jobs in October, worst than the forecasted loss of 175k jobs from a downwardly revised September reading of 219k jobs lost. The worst than estimated jobs data sent US equity futures lower and pushed the greenbackThe dollar was mixed against the majors, climbing higher against the euro to 1.4628 but sliding versus the British pound past the 1.64-level to 1.6419. Spot gold rose to a new record high above the $1,080-mark to $1,083.50 per ounce while crude oil continued to trade beneath $80-per barrel. The US economic reports released earlier today saw September durable goods and factory orders. The headline durable goods orders increased by 1.4% in September versus 1.0% previously, while the ex-transportations figure rose by 1.2% from 0.9% in August. Meanwhile, factory orders reversed the 0.8% decline in August, increasing by 0.9%. The key highlight on Wednesday will be the ADP private sector payrolls, which are seen improving to reflect a loss of 188.0k jobs in October from 254.0k jobs a month earlier. Also due out tomorrow will be the October non-manufacturing ISM report, estimated to improve to 51.8 from 50.9 in September. higher on a shift from riskier assets. The dollar surged against the majors in early Tuesday trading, rallying to 1.4789 against the euro and 1.6287 versus the British pound. The catalyst for the greenback’s advance was earlier weaker-than-expected US economic data, prompting heightened risk aversion and a shift from riskier assets. Spot gold and crude oil both traded lower, easing to $1,036 per ounce and dipping below the $80 per barrel level to $79. The major US equity bourses were largely flat on the session, with the Dow Jones hovering just above the 9,900-mark. There were several key economic releases earlier in the session, including August Case-Shiller home prices, the October Conference Board’s consumer confidence survey and the October Richmond Fed manufacturing index. The Conference Board’s consumer confidence survey for October sharply missed consensus estimates for an improvement to 54.3, instead tumbling to 47.7 from 53.1 in September. The disappointing confidence indicator sent the dollar sharply higher as traders dumped riskier assets for the safe-haven play. The calendar for Wednesday consists of September durable goods orders and new home sales.