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geregetan: kr1$1$ euro dicemaskan China, juga …270510

May 26, 2010

DINAMIKA
Eropa jaga komitmen
Kamis, 27/05/2010 04:03:32 WIB
Oleh:
YOGYAKARTA: Komisi Uni Eropa (UE) menjamin krisis Eropa tidak akan menyebabkan pengurangan komitmen pembiayaan pembangunan dari kawasan tersebut untuk Indonesia.

Pada Konferensi bidang Pembangunan Asia-Europe Meeting (ASEM) ke-2 di Yogyakarta kemarin, Komisioner UE bidang Pembangunan Andris Piebalgs menegaskan komitmen negara-negara UE terhadap kerja sama bidang pembangunan dengan Indonesia tetap kuat.

Dia menyebutkan krisis yang melanda sebagian negara di kawasan Uni Eropa memang memunculkan pengetatan anggaran, tetapi itu tidak sampai menurunkan kontribusi UE secara keseluruhan.

Selama periode 2007-2013, komitmen pendanaan untuk Indonesia diperkirakan dapat menyentuh 1,5 miliar euro. (Bisnis/dea)
May 26, 2010, 6:02 p.m. EDT
Stocks lose gains as jittery market reacts to China reports
Last hour of trading proves market’s undoing; Microsoft falls 4%

By Kate Gibson, MarketWatch
NEW YORK (MarketWatch) — U.S. stocks on Wednesday ended lower after a late-session lapse that coincided with a drop in the euro below a key threshold, as investors focused on reports that China might review its European bond holders.

The euro’s direction has whipsawed U.S. stocks since late April. A stronger dollar hurts U.S. exports overseas. Plus a declining euro reflects many investors’ concerns about European growth and its impact on the global economic recovery.

DJIA 9,974, -69.30, -0.69%

CUR_EURUSD 1.2175, +0.0019, +0.1563%

Dow Jones Industrial Average (DOW:DJIA) closed off 69.3 points, or 0.7%, to 9,974.45, the first time the benchmark index closed below 10,000 since early February. It had risen as much as 135 points during the day.

The S&P 500 Index (MARKET:SPX) closed down 6.08 points, or 0.6%, to 1,067.95.

The Nasdaq Composite Index (NASDAQ:COMP) shed 15.07 points, or 0.7%, to 2,195.88.

Analysts said stocks seemed to react to a late-day dip in the euro below $1.22, possibly triggered by reports about China’s commitment to European debt.

The Financial Times Wednesday said China is reviewing its euro-zone debt holdings in the wake of Europe’s financial problems. China’s State Administration of Foreign Exchange, which manages the reserves, has expressed concern about its exposure to the five euro-zone markets of Greece, Ireland, Italy, Portugal and Spain, the newspaper said.

Credit gauges sour
Indexes and credit spreads that act as barometers of investors’ fear have worsened since earlier this year, though they are still far from crisis levels
Credit gauges sour
Indexes and credit spreads that act as barometers of investors’ fear have worsened since earlier this year, though they are still far from crisis levels

CURRENT LEVEL RECENT LOWS WORST IN OCT. 2008
3-month dollar Libor 0.54% 0.25% until March 8 4.75% on Oct. 13
The TED spread 0.37% 0.09% on March 15 4.56% on Oct. 13
The VIX 32 points 15.6 on March 14 96 on Oct. 23
2-year swap spread 0.45% 0.11% on March 24 1.65% on Oct. 2

Source: FactSet
“It is not as if the market needs new reasons to be bearish the euro, but the news that the market seems to be reacting to now is a Financial Times piece,” said Marc Chandler, head of currency strategy at Brown Brothers Harriman, in a note to investors.

The euro (U.S.:CUR_EURUSD) fell below to $1.2185 from $1.2308 late Tuesday.

Leading decliners on the Dow, Microsoft (NASDAQ:MSFT) shares fell 4.1% and McDonald’s Corp. (NYSE:MCD) fell 2.7%.

On the S&P 500, industrials were the only sector of 10 that managed to cling to gains. Telecoms and tech stocks led decliners, with Sprint (NYSE:S) shares falling 7.2%, Western Digital Corp. (NYSE:WDC) losing 2.3% and McAfee (NYSE:MFE) shares falling 2.1%.

All three indexes are down for the week and the month.

For every stock declining, fewer than two were on the rise at the New York Stock Exchange, where nearly 1.9 billion shares traded hand.

Breaking away

On Wednesday, Wall Street’s initial gains, which persisted through the bulk of the day, were accompanied by a rising dollar, with the U.S. currency advancing against the euro as well as major currency rivals.

The dollar index (BOARD:DXY) rose to 87.23 from 86.799 in late North American trading Tuesday. See Currencies for more on shift to ‘positive mojo.’

Early investor appetite extended to commodities, with crude futures climbing above $71 a barrel even as the government reported a bigger-than-expected increase in inventories.

Wednesday’s market moves were noteworthy in that, at least early on, equities, commodities and the U.S. dollar were all on the rise, breaking from the recent trend that has seen the euro drop, the dollar go up and dollar-denominated commodities fall.

“It’s the first time we’ve switched away from simple currency-commodity focus to supply and demand, going back to April 23,” said Art Hogan, chief market strategist at Jefferies.

Buoying sentiment, the Organization for Economic Cooperation and Development hiked its growth expectations for the year as well as for 2011, he added. Read about debt alarm and upward revisions for gross domestic product.

The Commerce Department reported sales of new homes jumped almost 15% in April to the highest level since May 2008. Read more about rush to beat tax-credit deadline.

Separately, the Commerce Department reported new orders for U.S.-made durable goods increased 2.9% in April for the fourth rise in five months.

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