Fed Keeps $85 Billion QE Pace Looking For Stronger Growth

The Federal Reserve decided to press on with $85 billion in monthly bond purchases, saying it needs to see more evidence that the economy will continue to improve.

“The recovery in the housing sector slowed somewhat in recent months,” the Federal Open Market Committee (FDTR) said today at the end of a two-day meeting in Washington. “Fiscal policy is restraining economic growth.”

Ben S. Bernanke is pushing unprecedented accommodation into the final months of his Fed chairmanship as he seeks to shield the four-year economic expansion from the impact of this month’s partial U.S. government shutdown. The 16-day closing resulted in the furloughs of as many as 800,000 federal workers and delayed release of data the Fed says it needs to evaluate the economy.

“Taking into account the extent of federal fiscal retrenchment over the past year, the committee sees the improvement in economic activity and labor market conditions since it began its asset purchase program as consistent with growing underlying strength in the broader economy,” the committee said. The Fed repeated that it will “await more evidence that progress will be sustained before adjusting the pace of its purchases.”

The Standard & Poor’s 500 Index fell 0.5 percent to 1,763.31 at the close of trading in New York as some investors were disappointed the Fed refrained from providing stronger signals of prolonged stimulus. The yield on the 10-year Treasury note climbed three basis points, or 0.03 percentage point, to 2.54 percent.

(Source: Bloomberg)

WTI Oil Declines a Second Day as U.S. Crude Stockpiles Increase

West Texas Intermediate dropped for a second day, extending a monthly decline, as crude stockpiles increased in the U.S., the world’s biggest oil consumer.

Futures decreased as much as 0.8 percent in New York after the industry-funded American Petroleum Institute said crude inventories advanced 5.9 million barrels last week. A report from the Energy Information Administration today is projected to show supplies rose by 2.4 million, according to a Bloomberg News survey of analysts. That will be a sixth week of gains, rising to the highest level in four months.

WTI for December delivery fell as much as 80 cents to $97.40 a barrel in electronic trading on the New York Mercantile Exchange. It was at $97.62 at 11:07 a.m. Sydney time. The contract slid 0.5 percent to $98.20 yesterday. The volume of all futures traded was about 77 percent above the 100-day average. Prices are down 4.6 percent this month.

Brent for December settlement fell as much as 31 cents, or 0.3 percent, to $108.70 a barrel on the London-based ICE Futures Europe exchange. The European benchmark crude was at a premium of $11.12 to WTI futures, from $10.81 the previous session.

U.S. gasoline supplies increased 740,000 barrels, the API said. The report from the EIA, the Energy Department’s statistical arm, is forecast to show stockpiles fell by 200,000 barrels, according to the survey.

(Source: Bloomberg)

Aussie Hit By Stevens Comments

The Australian dollar fell to its lowest level in nearly two-week high against the greenback on Tuesday after the Reserve Bank of Australia Governor Glenn Stevens, warned about a possible decline in currency in the future. Stevens's comments were based on the potential for Fed stimulus tapering, which had been weighed on the U.S. dollar. RBA continues to grapple with the impact of the strengthening of the Aussie economy, which account for about 10% above the average in the last decade even with the mining investment boom has subsided.

"Comments increasingly cornered Aussie Stevens, who has been under a bit of pressure before," said Tim Kelleher, head of institutional foreign exchange sales at ASB Bank Ltd.. in Auckland. "The market is constantly pushing the Aussie during the last 2 weeks, so it is quite natural that these currencies halted moved lower today."

Technically, the trading session today, Wednesday  (30/10), the Aussie dollar pair a chance to move in a negative trend. 

Weakening Aussie primarily expected soon reexamine the minimum support at 0.9420 and 0.9400 maximum. Meanwhile, if the Aussie able to break and hold above 0.9471, then another alternative scenario the chance to test Resistance Aussie's in the area of ​​0.9480 and 0.9500.

 

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Dolar Menuju Kerugian Bulanan Terhadap Hampir Semua Mata Uang Utama Sejalan Dimulainya Pertemuan FED

 Dolar menuju kerugian bulanan terhadap sebagian besar mata uang utama sebelum data AS diperkirakan akan menunjukkan kepercayaan konsumen jatuh ke level terendah dalam 5 bulan dan penjualan retail  terhenti disaat Federal Reserve memulai pertemuan dua harinya pada hari ini .

Greenback diperdagangkan mendekati hampir dua tahun rendah terhadap euro dengan laporan karena hari ini yang mungkin menunjukkan sentimen konsumen yang kuat di Perancis , ekonomi terbesar kedua di Eropa. The Bloomberg Indeks Dollar AS turun untuk bulan kedua di tengah spekulasi bahwa shutdown pemerintah parsial menambah kasus untuk Fed untuk menunda pengurangan stimulus . Dolar Aussie melemah setelah Gubernur Reserve Bank of Australia Glenn Stevens mengatakan mata uang mungkin akan " secara material lebih rendah . "

Dolar sedikit berubah pada $ 1,3783 per euro pada 10:01 di Tokyo dari kemarin , siap untuk penurunan 1,9 persen bulan ini . Hal ini menyentuh $ 1,3832 pada 25 Oktober , terlemah sejak November 2011. Mata uang AS turun 0,2 persen menjadi 97,52 ¥ , ditetapkan untuk penurunan bulanan 0,8 persen .

Euro  melemah 0,2 persen menjadi 134,39 ¥ dari kemarin . Untuk bulan ini , itu naik 1,1 persen terhadap mata uang Jepang . Dolar Australia turun 0,5 persen menjadi 95,23 sen AS , setelah sebelumnya jatuh ke 95,15 , terendah sejak 16 Oktober.

The Bloomberg US Dollar Index , yang melacak greenback terhadap 10 mata uang utama , berada di 1,002.57 1,002.27 dari kemarin. Indeks ini turun 0,9 persen bulan ini .

(Sumber: Blommberg)

WTI Crude berfluktuasi Sebelum Data Produksi Industri AS Dirilis

West Texas Intermediate berayun antara keuntungan dan kerugian sebelum data ekonomi AS yang mungkin menandakan ketika Federal Reserve AS akan mulai mempertimbangkan skala stimulus moneter kembali di negara dengan konsumen minyak mentah terbesar di dunia .

Futures berfluktuasi di New York setelah jatuh 2,9 persen pekan lalu , terbesar dalam lima minggu . Sebuah serial data pemerintah AS diperkirakan akan menunjukkan hal itu minggu ini , termasuk angka produksi industri yang diperkirakan akan menunjukkan output naik pada bulan September . Ekspor minyak mentah Irak bulan lalu turun menjadi 62,1 juta barel di tengah perawatan , menurut juru bicara kementerian minyak.

WTI untuk pengiriman Desember berada di $ 97,71 per barel di perdagangan elektronik di New York Mercantile Exchange , turun 14 sen pada 12:55 waktu Sydney . Kontrak naik 0,8 persen menjadi $ 97,85 pada 25 Oktober , pemangkasan penurunan mingguan . Volume semua berjangka yang diperdagangkan adalah sekitar 36 persen di bawah rata-rata 100 hari .

Brent untuk pengiriman Desember naik 27 sen menjadi $ 107,20 per barel di ICE Futures Europe exchange yang berbasis di London . Minyak mentah patokan Eropa dengan premi sebesar $ 9,49 untuk WTI berjangka , naik dari $ 9,08 pada 25 Oktober.

(Sumber: Bloomberg)