Yen Reaches Eight-Week High Versus Dollar as Obama Refuses Talks

Bloomberg (8/10) -- The yen reached an eight-week high against the dollar as President Barack Obama reiterated he won’t negotiate with Republicans over the debt limit, driving demand for Japan’s currency as a haven. The yen strengthened by the most since Sept. 18 yesterday as the U.S. government’s partial shutdown continued for a seventh day. Treasury Secretary Jacob J. Lew has warned the U.S. may be unable to pay its bills after Oct. 17. Demand for the euro was supported before a report today forecast to show a rebound in German factory orders. The yen was little changed at 96.75 per dollar as of 8:03 a.m. in Tokyo from yesterday, after earlier touching 96.57, the strongest since Aug. 12. Japan’s currency traded at 131.35 per euro from 131.32 in New York, after reaching 131.15, the most since Sept. 9. The single currency fetched $1.3577 after gaining 0.2 percent to $1.3581 in the previous session. The yen tends to strengthen during periods of financial and economic turmoil because Japan isn’t reliant on foreign capital to fund its deficits. “We’re not going to negotiate under the threat of economic catastrophe,” Obama said yesterday during a visit to the Federal Emergency Management Agency in Washington. Republicans are insisting on changing the 2010 Affordable Care Act, while Obama refuses to engage in discussions about policy conditions tied to opening the government or raising the debt ceiling. In Germany, factory orders probably rose 1.1 percent in August, after a 2.7 percent decline the previous month, according to the median estimate of economists polled by Bloomberg News.

Written by: Kontak Perkasa Futures

PT.Kontak Perkasa Futures, Updated at: 9:02 AM

Saham A.S tersandung seiring default membayangi

NEW YORK, MarketWatch (08/10) - Saham-saham A.S turun pada hari Senin, dengan indeks S & P 500 di tutup pada level terendah dalam empat minggu terakhir, seiring kebuntuan di Capitol Hill atas pencegahan default pemerintah yang masih berlangsung. 'Ini merupakan permainan yang sangat berbahaya yang terjadi dan tidak ada resolusi yang terlihat, meskipun hal tersebut bisa berubah dengan cepat. ini adalah reaksi logisnya: Anda harus menghindari resiko di tengah proses,' kata Art Hogan, market strategist dari Lazard Capital Markets. Pada pukul 4:02 sore waktu Timur, indeks Dow telah kehilangan 136,47 poin menjadi 14,936.11. Indeks S & P 500 turun 14,38 poin menjadi 1,676.12. Nasdaq Composite turun 37,38 poin menjadi 3,770.38. (frk) http://www.marketwatch.com/story/us-stocks-stumble-as-default-looms-2013-10-07

Written by: Kontak Perkasa Futures

PT.Kontak Perkasa Futures, Updated at: 8:56 AM

WTI Oil Trades Near Week Low as Crude Stockpiles Seen Rising

Bloomberg (08/10) -- West Texas Intermediate oil traded near the lowest level in almost a week before data forecast to show U.S. crude stockpiles rising and as lawmakers remained deadlocked over extending the debt limit to avoid default. Futures were little changed in New York after declining 0.8 percent yesterday. Crude inventories probably increased by 1.6 million barrels last week, according to a Bloomberg News survey before a government report tomorrow. President Barack Obama reiterated that he won’t negotiate with Republicans over the partial government shutdown and the U.S. debt limit. WTI for November delivery was at $103.14 a barrel, up 11 cents, in electronic trading on the New York Mercantile Exchange at 10:10 a.m. Sydney time. The contract slipped 81 cents to $103.03 yesterday, the lowest settlement since Oct. 1. The volume of all futures traded was about 51 percent below the 100-day average. Brent for November settlement gained 22 cents to $109.68 a barrel on the London-based ICE Futures Europe exchange yesterday. The European benchmark ended the session at a premium of $6.65 to WTI futures, the biggest since Sept. 5. U.S. gasoline supplies probably rose by 1 million barrels last week, according to the median estimate of 9 analysts in the Bloomberg survey before figures from the Energy Information Administration. Distillate inventories, a category that includes heating oil and diesel, are projected to drop by 1.4 million, the survey shows.

Written by: Kontak Perkasa Futures

PT.Kontak Perkasa Futures, Updated at: 8:51 AM

Asian Stocks Drop as Investors Watch U.S. Debt Limit

Bloomberg (07/10) -- Asian stocks fell, with the regional benchmark index extending last week’s drop, as U.S. lawmakers wrangle over the debt limit and partial government shutdown. Blumont Group Ltd. and Asiasons Capital Ltd. shares each fell by records on resuming trading after the Singapore Exchange Ltd. imposed restrictions on investors in their stocks. Sun Hung Kai Properties Ltd. declined 2.4 percent on a report the developer offered to sell some of the remaining units at a Hong Kong residential project at a discount. Tokyo Electric Power Co., the owner of the crippled Fukushima Dai-Ichi nuclear power plant, sank 7.4 percent, leading a decline among utilities. The MSCI Asia Pacific Index fell 0.9 percent to 137.91 as of 1:53 p.m. in Tokyo, with all but one of its 10 industry groups dropping. The gauge lost 1.2 percent last week, the first weekly drop in more than a month, as the partial U.S. government shutdown stoked concern lawmakers won’t be able to agree on raising the nation’s $16.7 trillion borrowing limit later this month. U.S. Speaker John Boehner said yesterday the House can’t pass an increase to the debt ceiling without packaging it with other provisions -- a nonstarter for President Barack Obama. Japan’s Topix index fell 1.2 percent, extending the longest losing streak since July 2012. Financial markets in China are closed for a holiday today. South Korea’s Kospi index lost 0.1 percent. New Zealand’s NZX 50 Index slid 0.1 percent. In Australia, where many businesses are closed for Labour Day, the S&P/ASX 200 Index fell 1 percent on trading volumes about half the 30-day average for this time of day. Hong Kong’s Hang Seng Index slipped 0.7 percent. Singapore’s Straits Times Index was little changed and Taiwan’s Taiex index lost 0.3 percent.

Written by: Kontak Perkasa Futures

PT.Kontak Perkasa Futures, Updated at: 12:57 PM

Dolar Melemah di Perdagangan Asia Terhadap Kekhawatiran Utang AS

AFP, (07/10) - Dolar jatuh di perdagangan Asia pada hari Senin seiring investor khawatir terhadap kebuntuan anggaran AS di Washington yang apabila melewati batas waktu pada pertengahan Oktober untuk menaikkan batas pinjaman negara dan akan menyebabkan default yang menghancurkan. Dolar di perdagangakan pada level 97,08 yen di Tokyo, dan di level 97,47 yen pada perdagangan di New York pada Jumat sore. Euro berada di level $1,3567 dan 131,76 yen, dibandingkan dengan $1,3557 dan 132,14 yen. Pedagang mulai membeli safe-haven yen di tengah kekhawatiran anggota parlemen AS belum meloloskan plafon utang yang telah memaksa shutdown partial pemerintah AS, apabila tidak akan mencapai kesepakatan anggaran sebelum 17 Oktober, ketika pemerintah kehabisan uang tunai untuk membayar tagihan dan pada gilirannya pemerintah AS bisa terjadi default. Sebuah perdebatan yang sama tahun 2011 melihat batas pinjaman meningkatkan pada menit terakhir tetapi tidak sebelum pasar saham global anjlok selama krisis menyebabkan penurunan dari rating utang Washington . Menteri Keuangan AS Jack Lew memperingatkan pada hari Minggu bahwa Kongres 'bermain api ' seiring pemimpin Republik di DPR John Boehner mengatakan partainya tidak akan menaikkan plafon utang AS tanpa pemotongan pengeluaran. Shutdown pemerintah, yang memasuki hari ketujuh, juga mempengaruhi rilis data ekonomi AS tanpa kejelasan saat data non-farm payrolls, yang berakhir pada pekan lalu, akan dipublikasikan. (izr)

Written by: Kontak Perkasa Futures

PT.Kontak Perkasa Futures, Updated at: 12:55 PM

Oil Prices Down on US Debt Ceiling Concerns

AFP, (07/10) -- Oil prices edged lower in Asian trade Monday on growing concerns the US budget crisis could spiral into a devastating debt default and ravage the global economy. New York's main contract, West Texas Intermediate for delivery in November fell 57 cents to $103.27 in mid-morning trade, while Brent North Sea crude for November eased 40 cents to $109.06. The US government shutdown looks set to drag into day seventh on Monday, as a series of marathon talks between Democrats and Republicans in Washington failed to reach a resolution to the stand-off. US Treasury Secretary Jack Lew warned Sunday that Congress was 'playing with fire' as Republicans raised the threat of a US default if President Barack Obama refuses to negotiate on spending. Lew said the United States will run out of its ability to borrow money on October 17, and with only $30 billion in hand to meet obligations that can run to $60 billion a day, it will quickly default. Fears are growing that the shutdown could threaten a fragile economic recovery in the US, with some analysts suggesting it could push the country's economy back into recession.

Written by: Kontak Perkasa Futures

PT.Kontak Perkasa Futures, Updated at: 10:24 AM

Hong Kong Stocks Drop as U.S. Debt Limit Impasse Hurts Sentiment

Bloomberg, (07/10) -- Hong Kong stocks fell as the political impasse over the U.S. debt limit and government shutdown weighed on investor sentiment. Energy and materials companies led declines. The Hang Seng Index dropped 0.8 percent to 22,967.20 as of 9:34 a.m. in Hong Kong. The Hang Seng China Enterprises Index, also known as the H-share index, declined 1 percent. Mainland markets are shut until tomorrow. U.S. House of Representatives Speaker John Boehner said lawmakers won’t raise the debt ceiling without packaging it with other provisions. Futures on the Standard & Poor’s 500 Index fell 0.5 percent today. The gauge posted its second weekly decline last week as the first partial government shutdown in 17 years began. The budget impasse has raised concern that lawmakers will be unable to agree on increasing the $16.7 trillion debt limit. The Treasury Department has said measures to avoid exceeding the cap will be exhausted by Oct. 17. Data from payrolls to retail sales will be delayed as long as the shutdown continues, making it harder for the Federal Reserve to assess the economy as it considers when to start paring unprecedented monetary stimulus. Fed San Francisco President John Williams estimated a two-week government halt would shave 0.25 percentage point off fourth-quarter economic growth. The Hang Seng Index gained 2.1 percent this year through Oct. 4 on better-than-expected Chinese data and after the Federal Reserve unexpectedly refrained from cutting stimulus. Hong Kong’s benchmark equity gauge traded at 11.1 times estimated earnings as of Oct. 4, compared with 15.2 for the S&P 500.

Written by: Kontak Perkasa Futures

PT.Kontak Perkasa Futures, Updated at: 9:05 AM