Headline News 17.12.10

AS & GLOBAL :

• Bursa saham AS ditutup menguat terdongkrak outlook positif dari FedEx mengenai proyeksi laba perusahaan tersebut yang kemudian berdampak
positif pada kinerja saham lainnya. Saham‐saham yang berperforma baik dalam kurun 2010 menjadi top gainers pada perdagangan Kamis 16
Desember seiring ekspektasi investor bahwa saham‐saham tersebut akan melanjutkan penguatannya ditahun mendatang. Indeks Dow Jones <. DJI>
naik 41,78 poin atau 0,36% ke 11,499.25, indeks S&P500 <. SPX> naik 7,64 poin atau 0,62% ke 1,242.87, sementara Nasdaq <. IXIC> naik 20,09 poin
atau 0,77% ke 2,637.31. Data ekonomi AS semakin menambah sentimen positif, dimana aktifitas pabrik di wilayah mid‐Atlantik secara tidak terduga
meningkat di bulan Desember, sementara klaim pengangguran kembali turun. Harga perumahan mulai naik pada November, tapi izin untuk
konstruksi rumah di masa yang akan datang turun ke level terendah dalam kurun 1‐1/2 tahun terakhir.
 
• Harga emas dunia sempat turun lebih dari 1% akibat aksi ambil untung investor dan ara pergerakan euro yang masih belum jelas dalam jangka
pendek mendatang seiring masih kuatnya kekhawatiran pada krisis utang zona euro. Harga spot emas <XAU=> ditutup melemah 0.6% 1,370.99 USD
per troy ounce. Di India dilaporkan bahwa aksi beli emas menjelang akhir musim pernikahan tradisional mulai menurun, pembeli juga mengabaikan
dampak dari penguatan rupee yang membuat harga emas dalam dolar lebih murah di India.
 
• Harga minyak turun lebih dari 1% karena aksi penyesuaian pembukuan yang dilakukan investor menjelang akhir tahun yang didukung masih adanya
kekhawatiran pada prospek ekonomi meskipun data ekonomi AS dirilis menguat. Minyak mentah AS untuk pengiriman Januari <CLc1> melemah 92
sen di 87,70 USD per barel. Kontrak tersebut akan berakhir pada hari Senin 20 Desember, faktor yang turut memberikan tekanan jual.
 
• Euro sempat menguat terhadap dollar AS meskipun masih rentan terhadap tekanan jual setelah kesepakatan antara para pemimpin Uni‐Eropa dalam
mekanisme manajemen krisis tetap gagal untuk menenangkan kekhawatiran pelaku pasar akan menyebarnya krisis utang di kawasan tersebut. Para
pemimpin Uni Eropa sepakat untuk membuat perubahan kecil terhadap perjanjian kelompok yang mengatur untuk membentuk suatu mekanisme
permanen mulai dari pertengahan 2013 untuk menyelesaikan masalah utang. Draf pernyataan tersebut akan dirilis pada akhir pertemuan puncak dua
hari, pemimpin zona euro akan menyatakan kesiapan mereka untuk memastikan dana yang memadai tersedia untuk dana penyelamatan zona euro,
European Financial Stabilitas Facility (EFSF).

• Namun analis memperkirakan euro akan tetap berada di bawah tekanan dimana pemangku kebijakan Eropa masih terlihat terpecah untuk
menjalankan langkah‐langkah konkrit lebih lanjut, contohnya dalam menyediakan dana tambahan bagi operasional the European Financial Stability
Facility atau menerbitkan obligasi bersama Eropa "E‐bonds." Euro naik 0,2% ke 1,3236 setelah jatuh ke level terendah di 1,3181. Imbal hasil obligasi
Spanyol, Portugis dan Italia beringsut menguat, bahkan setelah Spanyol menjual 24 miliar euro obligasi bertenor 10 hingga 15 tahun yang berjalan
secara lancar. Terhadap yen, euro turun di 111,17 <EURJPY=>, sementara dollar turun 0,3% terhadap yen ke 84,02 <JPY=EBS>.

• Outlook (Jumat, 17/Des./2010): Bursa saham Asia cenderung dibuka menguat pada sesi Jumat 17 Desember menyusul naiknya outlook positif atas
ekonomi AS yang menimbulkan kepercayaan bahwa pada 2011 pasar saham akan lebih bergairah. Pelaku pasar akan menantikan rilis kesepakatan
pemimpin Uni‐Eropa dalam hal penyelesaian krisis hutang yang melanda kawasan tersebut.

Gold slides on profit-taking as euro retreats

NEW YORK/LONDON | Thu Dec 16, 2010 3:43pm EST
 

NEW YORK/LONDON (Reuters) - Gold fell more than 1 percent on Thursday as investors took profits and pondered the euro's near-term direction and remained concerned about the euro zone debt crisis.
Gold futures fell to a near three-week low while the spot price of the shiny metal dipped below the 50-day moving average, indicating it could be headed for a bear market.
Gold's slump came as the dollar recovered against the euro after data showed positive business conditions in the U.S. Mid-Atlantic region.
Other commodity markets generally drifted in thin trade, with the combined energy, metals and agricultural complex showing volumes at least 30 percent lower from the 30-day average by midday.
Aside from the euro, investors said few other factors influenced trading. They said the market shrugged off news about the Commodity Futures Trading Commission's proposed rules to regulate trading.
The euro often provides direction for gold as it is another trade against the dollar.
The euro rose early on Thursday as a European Union summit to discuss the debt crisis got underway. But investors had already cautioned the currency was vulnerable to a sell-off on lingering euro zone peripheral debt concerns.
European leaders sought to paper over deep divisions on how best to resolve the debt crisis ahead of the summit, while Spain and Portugal came under renewed pressure to get their finances in order.
Attractive yields on U.S. Treasuries were also luring some gold investors to diversify into U.S. government debt.
"The Treasury yield is certainly pressuring gold prices," said Bruce Dunn, vice-president at Auramet Trading in Fort Lee, New Jersey. "It's also near month-end, quarter-end and year-end and people are looking to take profit as the euro continues to weaken and the debt crisis drags on."

WEAK INDIAN BUYING

New York's benchmark February gold futures settled down $15.20 at $1,371 an ounce after dipping to $1,362 -- its lowest level since November 29.
Bids for spot gold, which reflect trades in bullion, fell to $1,361.65, below the 50-day moving average of $1,368.86. It recovered to above $1,366 an ounce by 2:30 p.m. EST.
Late Wednesday in New York, bids for gold stood at around $1,380.45.
Some were confident about the longer-term outlook for gold, saying the futures market was likely to rewrite the December 7 record high of above $1,432.50.
They said that although the euro zone crisis was weighing on the euro -- and, in turn, gold -- the phenomenon will ultimately favor the precious metal, as other sovereign debt crises have done in boosting demand for the safe-haven.
"I don't think we will see a sharp decline in gold prices," said Daniel Briesemann, a commodities strategist for Frankfurt-based Commerzbank. "The fundamental data and especially the debt crisis in the euro zone and its peripheral countries is too severe to be too optimistic."
Andrey Kryuchenkov, analyst at VTB Capital in Moscow, made a similar point.
"Overall, economic uncertainties are gold-positive with the currency markets still jittery while fiat currency yields are set to remain low for a prolonged period of time," Kryuchenkov said. "Safe haven buying will limit the downside on gold in the short run."
Holdings of the world's largest gold-backed exchange-traded fund, New York's SPDR Gold Trust, eased by 0.6 tonnes on Wednesday, bringing total inflows in December to 0.4 tonnes versus inflows of just over 7 tonnes in the same period of 2009.
In India, the world's largest gold consumer, buying of jewelry slowed as the wedding season neared its end. Buyers there also shrugged off the impact of a firmer rupee, which made dollar-priced gold cheaper in India.
Buyers "would hardly come...until mid-January," said a Mumbai-based dealer.