(BN) Yen Remains Lower on Speculation Central Banks to Boost Stimulus

(BN) Yen Remains Lower on Speculation Central Banks to Boost Stimulus

By Masaki Kondo and Mariko Ishikawa

     July 4 (Bloomberg) -- The yen remained lower against most of its 16 major peers following a decline yesterday amid speculation central banks will introduce more steps to stimulate growth, sapping demand for haven assets.

     The dollar was 0.1 percent from a two-month low versus the Australian currency before U.S. data tomorrow that may show private employment rose at the slowest pace in 10 months. Stocks climbed globally and a gauge of commodities jumped after the International Monetary Fund said additional monetary easing may be needed in the U.S. The European Central Bank will probably cut interest rates tomorrow, a Bloomberg News survey forecast.

     “The ECB story itself will do wonders to keep the risk on for a little bit longer,” said Gavin Stacey, Sydney-based chief rate strategist at Barclays Plc. “What we’re seeing in terms of safe haven currencies, a little bit of softness in dollar and yen, will be consistent with the idea that risk is extending.”

     The yen traded at 100.63 per euro as of 8:16 a.m. in Tokyo after losing 0.6 percent to 100.61 in New York yesterday. It fetched 79.84 per dollar from 79.79. The U.S. currency was at $1.2604 per euro after sliding 0.3 percent to $1.2608. The greenback was little changed at $1.0285 per Australian dollar after reaching $1.0297 yesterday, the weakest since May 3.

     U.S. financial markets are shut today for the Independence Day holiday.

                         Employment Data

     Companies in the U.S. probably added 100,000 jobs in June, the smallest gain since August, a Bloomberg poll of economists shows before ADP Employer Services releases the figure tomorrow.

     The U.S. economy will grow about 2.25 percent in 2013 amid a “tepid” recovery and the European debt crisis, the IMF said, lowering its previous projection of 2.4 percent. “Further easing” by the Federal Reserve might be needed “if the situation was to deteriorate,” IMF Managing Director Christine Lagarde told reporters in Washington yesterday.

     The MSCI All-Country World Index of shares rose 1 percent yesterday. The Standard & Poor’s GSCI Total Return Index of commodities gained 3.5 percent to the highest since May 22.

     The ECB will probably lower its main refinancing rate by a quarter-percentage point to 0.75 percent on July 5, according to the median estimate in a Bloomberg survey of economists.

Market Update- 3 July 2012

 ·      Risk appetites are still hard to sustain with the US ISM numbers disappointing last night and market turned back to its bearish mood, the resuce in Europe still depends a lot on the specific details on how its going to work out

·     Markets overnight paused for thought following Friday’s euphoria and were left fearing for the health of the US economic recovery as the ISM Manufacturing Index showed contraction in the sector for the first time since 2009:

USISM Manufacturing PMI

·     The number came in at 49.7vs a survey of 52 and last month’s 53.5. Next up is payrolls on Friday, another round of disappointing numbers will push markets recovery further back.

·     Italian unemployment unexpectedly fell in May to 10.1%, the median survey was for a rise from 10.2 to 10.3%. An impressive 60k jobs were added to provide the first drop in the gauge since February 2011 and adding to the slightly better than forecast manufacturing PMI figures out across Europe, risk markets were well bid in early trade. (The Euro Zone unemployment rate rose to a record high of11.1%, but was in line with expectations)

·     Equity markets proved resilient to the slowing US data, with the S&P ending 0.25% higher and the DOW closing down only 0.07%.

·     US treasuries down 5.6 bps to 1.589%, bunds down 6bps to1.517% and Italy down 9bps to 5.71%.

·     Spain was the only loser, it’s yields rising 5bpsto 6.3%. Oil was slightly weaker, closing down $1 at $83.75 while gold was flat but off its lows at $1596.43

·      USDMYR opened where it closed yesterday at 3.1650-3.1700 and we continue to expect support at 3.1400 as we see more interest to buy at those levels, while sellers will come in closer to 3.2000 to complete the range trade of 3.1400-3.2000

10 Biggest Brain Damaging Habits

A GREAT ALTERNATIVE TO TAKING MEDICATION!!!!

A GREAT ALTERNATIVE TO TAKING MEDICATION!!!! 20 Painkillers in Your Kitchen Make muscle pain a memory with ginger When Danish researchers asked achy people to jazz up their diets with ginger, it eased muscle and joint pain, swelling and stiffness for up to 63 percent of them within two months. Experts credit ginger’s potent compounds called gingerols, which prevent the production of pain-triggering hormones. The study-recommended dose: Add at least 1 teaspoon of dried ginger or 2 teaspoons of chopped ginger to meals daily.

Cure a toothache with cloves

Got a toothache and can’t get to the dentist? Gently chewing on a clove can ease tooth pain and gum inflammation for two hours straight, say UCLA researchers. Experts point to a natural compound in cloves called eugenol, a powerful, natural anesthetic. Bonus: Sprinkling a ¼ teaspoon of ground cloves on meals daily may also protect your ticker. Scientists say this simple action helps stabilize blood sugar, plus dampen production of artery-clogging cholesterol in as little as three weeks.

Heal heartburn with cider vinegar

Sip 1 tablespoon of apple cider vinegar mixed with 8 ounces of water before every meal, and experts say you could shut down painful bouts of heartburn in as little as 24 hours. “Cider vinegar is rich in malic and tartaric acids, powerful digestive aids that speed the breakdown of fats and proteins so your stomach can empty quickly, before food washes up into the esophagus, triggering heartburn pain,” explains Joseph Brasco, M.D., a gastroenterologist at the Center for Colon and Digestive Diseases in Huntsville, AL.

Erase earaches with garlic

Painful ear infections drive millions of Americans to doctors’ offices every year. To cure one fast, just place two drops of warm garlic oil into your aching ear twice daily for five days. This simple treatment can clear up ear infections faster than prescription meds, say experts at the University of New Mexico School of Medicine. Scientists say garlic’s active ingredients (germanium, selenium, and sulfur compounds) are naturally toxic to dozens of different pain-causing bacteria. To whip up your own garlic oil gently simmer three cloves of crushed garlic in a half a cup of extra virgin olive oil for two minutes, strain, then refrigerate for up to two weeks, suggests Teresa Graedon, Ph.D., co-author of the book, Best Choices From The People’s Pharmacy. For an optimal experience, warm this mix slightly before using so the liquid will feel soothing in your ear canal.

Chase away joint and headache pain with cherries

Latest studies show that at least one in four women is struggling with arthritis, gout or chronic headaches. If you’re one of them, a daily bowl of cherries could ease your ache, without the stomach upset so often triggered by today’s painkillers, say researchers at East Lansing ’s Michigan State University . Their research reveals that anthocyanins, the compounds that give cherries their brilliant red color, are anti-inflammatories 10 times stronger than ibuprofen and aspirin. “Anthocyanins help shut down the powerful enzymes that kick-start tissue inflammation, so they can prevent, as well as treat, many different kinds of pain,” explains Muraleedharan Nair, Ph.D., professor of food science at Michigan State University . His advice: Enjoy 20 cherries (fresh, frozen or dried) daily, then continue until your pain disappears.

Fight tummy troubles with fish

Indigestion, irritable bowel syndrome, inflammatory bowel diseases...if your belly always seems to be in an uproar, try munching 18 ounces of fish weekly to ease your misery. Repeated studies show that the fatty acids in fish, called EPA and DHA, can significantly reduce intestinal inflammation, cramping and belly pain and, in some cases, provide as much relief as corticosteroids and other prescription meds. “EPA and DHA are powerful, natural, side effect-free anti-inflammatories, that can dramatically improve the function of the entire gastrointestinal tract,” explains biological chemist Barry Sears, Ph.D., president of the Inflammation Research Foundation in Marblehead , MA . For best results, look for oily fish like salmon, sardines, tuna, mackerel, trout and herring.

Prevent PMS with yogurt 

 Up to 80 percent of women will struggle with premenstrual syndrome and its uncomfortable symptoms, report Yale researchers. The reason: Their nervous systems are sensitive to the ups and downs in estrogen and progesterone that occur naturally every month. But snacking on 2 cups of yogurt a day can slash these symptoms by 48 percent, say researchers at New York ’s Columbia University . “Yogurt is rich in calcium, a mineral that naturally calms the nervous system, preventing painful symptoms even when hormones are in flux,” explains Mary Jane Minkin, M.D., a professor of gynecology at Yale University .

Tame chronic pain with turmeric

 Studies show turmeric, a popular East Indian spice, is actually three times more effective at easing pain than aspirin, ibuprofen or naproxen, plus it can help relieve chronic pain for 50 percent of people struggling with arthritis and even fibromyalgia, according to Cornell researchers. That’s because turmeric’s active ingredient, curcumin, naturally shuts down cyclooxygenase 2, an enzyme that churns out a stream of pain-producing hormones, explains nutrition researcher Julian Whitaker, M.D. and author of the book, Reversing Diabetes. The study-recommended dose: Sprinkle 1/4 teaspoon of this spice daily onto any rice, poultry, meat or vegetable dish.

End endometrial pain with oats

 The ticket to soothing endometriosis pain could be a daily bowl of oatmeal. Endometriosis occurs when little bits of the uterine lining detach and grow outside of the uterus. Experts say these migrating cells can turn menstruation into a misery, causing so much inflammation that they trigger severe cramping during your period, plus a heavy ache that drags on all month long. Fortunately, scientists say opting for a diet rich in oats can help reduce endometrial pain for up to 60 percent of women within six months. That’s because oats don’t contain gluten, a trouble-making protein that triggers inflammation in many women, making endometriosis difficult to bear, explains Peter Green, M.D., professor of medicine at Colombia University .

Soothe foot pain with salt

Experts say at least six million Americans develop painful ingrown toenails each year. But regularly soaking ingrown nails in warm salt water baths can cure these painful infections within four days, say scientists at California ’s Stanford University . The salt in the mix naturally nixes inflammation, plus it’s anti-bacterial, so it quickly destroys the germs that cause swelling and pain. Just mix 1 teaspoon of salt into each cup of water, heat to the warmest temperature that you can comfortably stand, and then soak the affected foot area for 20 minutes twice daily, until your infection subsides.

Prevent digestive upsets with pineapple

Got gas? One cup of fresh pineapple daily can cut painful bloating within 72 hours, say researchers at California ’s Stanford University . That's because pineapple is natually packed with proteolytic enzymes, digestive aids that help speed the breakdown of pain-causing proteins in the stomach and small intestine, say USDA researchers.

Relax painful muscles with peppermint 

Suffering from tight, sore muscles? Stubborn knots can hang around for months if they aren’t properly treated, says naturopath Mark Stengler, N.D., author of the book, The Natural Physician’s Healing Therapies. His advice: Three times each week, soak in a warm tub scented with 10 drops of peppermint oil. The warm water will relax your muscles, while the peppermint oil will naturally soothe your nerves -- a combo that can ease muscle cramping 25 percent more effectively than over-the-counter painkillers, and cut the frequency of future flare-ups in half, says Stengler.

Give your back some TLC with grapes

Got an achy back? Grapes could be the ticket to a speedy recovery. Recent studies at Ohio State University suggest eating a heaping cup of grapes daily can relax tight blood vessels, significantly improving blood flow to damaged back tissues (and often within three hours of enjoying the first bowl). That’s great news because your back’s vertebrae and shock-absorbing discs are completely dependent on nearby blood vessels to bring them healing nutrients and oxygen, so improving blood flow is essential for healing damaged back tissue, says Stengler.

Wash away pain injuries with water

Whether it’s your feet, your knees or your shoulders that are throbbing, experts at New York ’s Manhattan College , say you could kick-start your recovery in one week just by drinking eight 8-ounce glasses of water daily. Why? Experts say water dilutes, and then helps flush out, histamine, a pain-triggering compound produced by injured tissues. “Plus water is a key building block of the cartilage that cushions the ends of your bones, your joints’ lubricating fluid, and the soft discs in your spine,” adds Susan M. Kleiner, Ph.D., author of the book, The Good Mood Diet. “And when these tissues are well-hydrated, they can move and glide over each other without causing pain.” One caveat: Be sure to measure your drinking glasses to find out how large they really are before you start sipping, she says. Today’s juice glasses often hold more than 12 ounces, which means five servings could be enough to meet your daily goal.

Heal sinus problems with horseradish

Latest studies show sinusitis is the nation’s number one chronic health problem. And this condition doesn’t just spur congestion and facial pain, it also makes sufferers six times more likely to feel achy all-over. Horseradish to the rescue! According to German researchers, this eye-watering condiment naturally revs up blood flow to the sinus cavities, helping to open and drain clogged sinuses and heal sinus infections more quickly than decongestant sprays do. The study-recommended dose: One teaspoon twice daily (either on its own, or used as a sandwich or meat topping) until symptoms clear.

Beat bladder infections with blueberries

Eating 1 cup of blueberries daily, whether you opt for them fresh, frozen or in juice form, can cut your risk of a urinary tract infection (UTIs) by 60 percent, according to researchers at New Jersey’s Rutgers University. That's because blueberries are loaded with tannins, plant compounds that wrap around problem-causing bacteria in the bladder, so they can’t get a toehold and create an infection, explains Amy Howell, Ph.D. a scientist at Rutgers University .

Heal mouth sores with honey 

Dab painful canker and cold sores with unpasteurized honey four times daily until these skin woes disappear, and they’ll heal 43 percent faster than if you use a prescription cream, say researchers at the Dubai Specialized Medical Center in the United Arab Emirates . Raw honey’s natural enzymes zap inflammation, destroy invading viruses and speed the healing of damaged tissues, say the study authors.

Fight breast pain with flax

In one recent study, adding 3 tablespoons of ground flax to their daily diet eased breast soreness for one in three women within 12 weeks. Scientists credit flax’s phytoestrogens, natural plant compounds that prevent the estrogen spikes that can trigger breast pain. More good news: You don’t have to be a master baker to sneak this healthy seed into your diet. Just sprinkle ground flax on oatmeal, yogurt, applesauce or add it to smoothies and veggie dips.

Cure migraines with coffee 

Prone to migraines? Try muscling-up your painkiller with a coffee chaser. Whatever over-the-counter pain med you prefer, researchers at the National Headache Foundation say washing it down with a strong 12- ounce cup of coffee will boost the effectiveness of your medication by 40 percent or more. Experts say caffeine stimulates the stomach lining to absorb painkillers more quickly and more effectively.

Tame leg cramps with tomato juice 

At least one in five people regularly struggle with leg cramps. The culprit? Potassium deficiencies, which occur when this mineral is flushed out by diuretics, caffeinated beverages or heavy perspiration during exercise. But sip 10 ounces of potassium-rich tomato juice daily and you'll not only speed your recovery, you'll reduce your risk of painful cramp flare-ups in as little as 10 days, say UCLA researchers.

Malaysia Palm Oil Data 2 July 2012

Malaysia Palm Oil Data 2 July 2012

ITS (1-30 June) = 1449280 v1382091(u​p 4.9%)

SGS (1-30 June)=1463​864 v1333869(u​p 9.75%)

Yen, Dollar Remain Lower as Asian Shares Climb, Tankan Improves

Yen, Dollar Remain Lower as Asian Shares Climb, Tankan Improves

2012-07-02 00:09:53.795 GMT

By Masaki Kondo and Mariko Ishikawa

     July 2 (Bloomberg) -- The yen and dollar remained lower against most of their major peers following declines at the end of last week as Asian shares extended a global rally, damping the allure of haven assets.

     The Japanese currency posted the biggest drop in more than a year versus the euro on June 29 after European leaders eased terms on loans to Spanish banks, taking a step toward resolving the region’s debt crisis. Demand for the 17-nation euro was limited before data today that may show the jobless rate in the bloc climbed to a record and manufacturing contracted. Japan’s large manufacturers became less pessimistic in June, the central bank’s Tankan index showed today.

     “Safe assets such as the dollar and yen are being sold amid risk-on sentiment,” said Marito Ueda, senior managing director in Tokyo at FX Prime Corp., a currency-margin company.

“The outlook for Europe’s economy is still bleak.”

     The yen traded at 100.83 per euro as of 9:05 a.m. in Tokyo after dropping 2.2 percent to 101.04 in New York at the end of last week, the biggest slide on a closing basis since March 2011. The dollar was at $1.2639 per euro after falling 1.8 percent to $1.2667 on June 29. The greenback was little changed at 79.77 yen.

     European Union leaders dropped the requirement that governments get preferred creditor status on crisis loans to Spain’s blighted banks, EU President Herman Van Rompuy said after a two-day summit on June 29. Banks can also be recapitalized directly with European bailout funds rather than being channeled through governments, he said.

     The MSCI Asia Pacific Index rose 0.4 percent, following a 2.5 percent surge on the Standard & Poor’s 500 Index on June 29. The Stoxx Europe 600 Index climbed 2.7 percent.

                            ECB Policy

      “The latest EU summit has clearly bought time for the euro. But it still does not remove the bearish case for the currency,” Mansoor Mohi-uddin, head of foreign-exchange strategy in Singapore at UBS AG, wrote in a note on June 30.

“The market is likely to focus on whether the ECB will cut interest rates” at a July 5 meeting.

     The ECB will probably lower the benchmark rate to 0.75 percent from a record 1 percent, economists forecast.

     The jobless rate in the euro zone probably rose to 11.1 percent in May from 11 percent the prior month, a Bloomberg News Survey of economists shows. It would be the highest on record going back to 1990.

     London-based Markit Economics may confirm its gauge of the currency bloc’s manufacturing was 44.8 in June on a final reading, unchanged from an initial estimate, according to a separate poll of economists. A reading below 50 indicates contraction.

     The quarterly Tankan index of sentiment was minus 1 in June from minus 4 in March, the Bank of Japan said today in Tokyo. The median estimate of 19 economists surveyed by Bloomberg News was for a reading of minus 4. A negative number means pessimists out number optimists.

Market Update- 2 July 2012

Market Update- 2 July 2012

·      For those who have not read the sports headlines, Spain thrashed Italy 4-0 in the Euro finals, could this be a positive turning of tide for Spain including their debt crisis sues and economy?

·      Risk appetite is definitely back on as most risky assets have gone back up- this was kick started last Friday with the agreement from EU

·      Treasuries fell, pushing up 10-year yields the most in almost three months, after euro-area leaders expanded steps to stem the bloc’s debt crisis, damping demand for the safest assets

·      Spanish and Italian notes rose for a second week as euro-area leaders expanded steps to stem the debt crisis by easing repayment rules for emergency loans to Spain’s banks and relaxing conditions on potential help for Italy

·      The Italian two-year yield dropped to the lowest in a month after leaders of the euro nations also scrapped the requirement that governments get preferred-creditor status on crisis loans to the country’s banks

·      German 30-year bunds dropped for a fourth week as optimism the financial turmoil will be contained reduced demand for the region’s safest assets

·      USDMYR also opened lower this week at 3.1650-3.1700 as we continue to see support at 3.1400 and resistance at 3.2000 in the short term

·      News headlines are likely to drive the markets again this week with BNM meeting on Thursday, we expect no change from BNM and also the US jobs data which will be more crucial