BOJ offers record 7 trillion yen to soothe markets

TOKYO | Sun Mar 13, 2011 10:45pm EDT

TOKYO (Reuters) - The Bank of Japan offered to pump a record $85 billion into the banking system on Monday, its first same-day market operation since the Greek debt crisis, to soothe market jitters after a massive earthquake hit northeastern Japan.

"The move is aimed at stabilizing financial markets and ensuring smooth fund settlement," a BOJ official told Reuters.
This was the central bank's first same-day operation, in which it injects funds to the market on the same day it offers them, since last May, when Greece's debt woes roiled global financial markets.
The amount, at 7 trillion yen ($85 billion), was much higher than the usual 1 trillion to 2 trillion yen injected in the wake of big market-moving events, indicating the central bank's determination to keep borrowing costs low and stable.

The auction drew fewer bids than the amount offered, resulting in the BOJ pumping 5.1 trillion yen into the market, in a sign the banking system remained awash with cash.

"The BOJ apparently is making utmost efforts to maintain order in markets with ample fund supply," said Hideo Kumano, chief economist at Dai-ichi Life Research Institute in Tokyo.
"The BOJ may ease policy by expanding its asset-buying fund or some other measures in the near future. But it's hard to predict what it will do at today's policy meeting."

BOJ Governor Masaaki Shirakawa said on Sunday that the central bank would provide huge amounts of liquidity to the banking system on Monday, reinforcing the bank's resolve to keep markets stable in the wake of the disaster.

The central bank will meet later on Monday for a rate review, which was cut short from two days to one, and is seen keeping interest rates on hold at a range of zero to 0.1 percent.
At Monday's rate review, the BOJ is expected to pledge to supply as much money as needed to keep jitters over the quake from destabilizing markets. It may also signal its readiness to ease policy further if the damage from the quake threatens Japan's economy as it heads toward a moderate recovery.

Japan is battling to prevent a nuclear catastrophe and to care for millions of people without power or water in its worst crisis since World War Two, after a massive earthquake and tsunami that are feared to have killed more than 10,000 people.

The BOJ said in a statement that there were no reports so far of system glitches or funding problems at Japanese financial institutions, including those in the quake-struck region.

New explosion rocks stricken Japanese nuclear reactor

TOKYO | Sun Mar 13, 2011 10:37pm EDT

TOKYO (Reuters) - A new explosion rocked Japan's stricken Fukushima Daiichi nuclear power complex on Monday, sending a plume of smoke into the air.

Japan's nuclear safety agency said it could not confirm whether or not the hydrogen explosion at the plant's No.3 reactor had led to an uncontrolled leak of radioactivity.

Futures hit as Japan situation worsens

NEW YORK | Sun Mar 13, 2011 6:35pm EDT

NEW YORK (Reuters) - U.S. stocks index futures fell on Sunday as investors reacted to the worsening situation in Japan.

S&P 500 futures were down 7 points to 1292.80. Dow Jones industrial average futures fell 51 points, and Nasdaq 100 futures dropped 17 points.
Japan battled on Monday to prevent a nuclear catastrophe and to care for millions of people without power or water after a massive earthquake and tsunami was feared to have killed more than 10,000 people.The devastation in Japan could worsen the negative short-term sentiment gripping a vulnerable U.S. stock market. Likely to take the biggest hits are companies exposed to Japan and the nuclear energy sector.
The disaster brought on a flurry of short bets against Japanese stocks on Friday, and that trend could well accelerate on news of deteriorating conditions in Japan over the weekend.
 Officials in Japan confirmed three nuclear reactors were at risk of overheating, raising fears of an uncontrolled radiation leak.

Headline News 11.03.11

US & GLOBAL 
• Kekhawatiran tentang prospek pemulihan ekonomi global dan meningkatnya kerusuhan di Arab Saudi menekan kinerja bursa Wall Street, mendorong
penurunan indeks‐indeks utama di bawah level teknis penting. Indeks Dow Jones mencatat kinerja terburuk dalam 9‐bulan terakhir setlah adanya laporan
bahwa otoritas Arab Saudi melepaskan sejumlah tembakan ke arah demonstran, meningkatkan kecemasan akan instabilitas di negara‐negara penghasil
minyak terbesar dunia. Ketiga indeks utama AS jatuh di bawah level moving average 50‐hariannya. Aksi jual investor cukup marak, dengan volume
perdagangan yang mencapai 9.07 miliar lembar saham yang diperdagangkan, jauh melebihi rata‐rata perdagangan harian tahun 2010 silam yang hanya 8,47
miliar saham perhari. Indeks Dow Jones <. DJI> turun 228,48 poin atau 1,87% ke 11,984.61, S&p500 <. SPX> turun 24,91 poin atau 1,89% ke 1,295.11 dan
Nasdaq <. IXIC> turun 50,70 poin atau 1,84% ke 2,701.02.
 
• Harga emas bangkit dari pelemahan tajamnya setelah meningkatnya aktiftas demonstran di Arab Saudi yang kemudian mendapat reaksi keras dari
pemerintah, yang kemudian menaikkan minat beli investor pada aset safe haven. Harga spot emas <XAU=> sempat anjlok ke 1,402.72 USD per troy ounce ‐
level terendah dalam 2‐pekan terakhir, dan ditutup melemah 1,2% ke 1,412.50 USD per troy ounce.
 
• Harga minyak dunia berhasil menutupi pelemahan tajamnya pada akhir sesi setelah berita dari Arab Saudi tersebut. Sebelumnya, harga minyak telah anjlok
tajam menyusul pemangkasan peringkat kredit Spanyol yang memunculkan kembali kekhawatiran atas kondisi hutang zona euro, mengangkat performa
dollar AS. Minyak juga mendapat tekanan dari laporan data ekonomi AS dan Cina yang lebih buruk dari perkiraan. Di London, minyak mentah Brent untuk
pengiriman April <LCOc1> turun 51 sen ke 115,43 USD per barel, dan minyak mentah Crude AS untuk pengiriman April <CLc1> turun 1,68 USD ke 102,70
USD per barel.
 
• Euro mengalami kinerja terburuk terhadap dollar AS dalam 1‐bulan terakhir menyusul pemangkasan peringkat kredit Spanyol oleh lembaga pemeringkat
Moody's yang menaikkan kekhawatiran akan kondisi hutang zona eropa. Kerusuhan di Arab Saudi, juga melemahkan minat investor pada aset beresiko,
menahan pelemahan harga minyak dan memangkas penguatan dollar AS terhadap Swiss franc. Dollar AS tercatat menguat 0.3% ke 0.9320 francs <CHF=>.
Euro turun 0,9% ke 1,3788 <EUR=>, kinerja harian terburuk sejak 10 Februari silam. Namun demikian, serangkaian aksi beli dalam jumlah besar dilaporkan
berasal dari institusi asal Timur Tengah dan Asia, membatasi pelemahan euro. Ekspektasi kenaikan suku bunga ECB yang akan lebih cepat dari The Fed dan
BoE juga masih mendukung euro. Terhadap yen, dollar AS naik 0.3% ke 82.93 yen <JPY=>.
 
• Aussie dollar turun 1% ke 0.9996 <AUD=> setelah data menunjukkan Cina mengalami defisit perdagangan pada Februari sebesar 7.3 miliar USD, terbesar
dalam tujuh tahun. Sterling tercatat melemah 1% terhadap dollar ke 1.6049 <GBP=> setelah BoE mempertahankan suku bunga dalam sidangnya untuk
Maret ini seperti yang telah luas diperkirakan sebelumnya.

Headline News 10.03.11

US & GLOBAL 
• Buruknya outlook dari laporan keuangan Texas Instruments menekan kinerja Nasdaq dan mendorong sub‐indeks produsen chip hingga di bawah level teknis penting
yang mulai menggoyahkan proyeksi uptrend selama 6‐bulan terakhir. Indeks PHLX semikonduktor <.SOX> turun 3% ditutup di bawah moving average 50‐hariannya
untuk pertama kalinya sejak September 2010 silam. Saham Texas Instruments <TXN.N> memimpin penurunan, setelah earningnya mengecewakan. Sahamnya turun
3,1%. Sementara itu International Business Machines Corp <IBM.N> berhasil menahan berlanjutnya pelemahan Dow Jones, dimana saham tersebut naik 2,2%.
 
• Tingginya harga minyak dunia masih merupakan momok bagi prospek kinerja saham‐saham bursa Wall Street, karena kenaikan harga minyak diprediksi akan
memberikan tekanan bagi pemulihan ekonomi AS. Indeks Dow Jones <. DJI> tuurn 1,29 poin atau 0,01% ke 12,213.09, S&P500 <. SPX> turun 1,80 poin atau 0,14% ke
1,320.02 dan Nasdaq <. IXIC> turun 14,05 poin atau 0,51% ke 2,751.72.
 
• Harga emas menguat tipis, namun gagal menembus level tertingginya dipicu oleh pelemahan harga minyak dunia yang menurunkan minat beli investor pada aset safe
haven. Harga emas saat ini terpengaruh pergerakan harga minyak dunia yang masih didominasi sentimen dari unjuk rasa yang berkembang di Timur Tengah dan Afrika
Utara. Harga spot emas <XAU=> naik 0,2% ke 1,429.60 USD per troy ounce.
 
• Harga minyak Brent London berhasil rebound diatas 116 USD per barel dipicu oleh meningkatnya pertempuran antara pendukung dan anti pemerintahan Kadafi di
Libia yang memicu kekhawatiran pasokan minyak. Sementara itu minyak mentah AS turun akibat persediaan minyak yang meningkat tajam. Harga minyak mentah
Brent untuk pengiriman April <LCOJ1> naik 2,88 USD lebih tinggi ke 115,94 USD per barel, setelah sebelumnya sempat mencapai 116,18 USD per barel. Sementara itu
harga minyak Crude AS untuk pengiriman April <CLJ1> turun 64 sen ke 104,38 USD per barel.
 
• Euro gagal re‐test level tertinggi dalam 4‐tahun terakhir yang tercetak pada sesi Rabu 09 Maret lalu, kekhawatiran pada kondisi fiskal beberapa negara di zona euro
diperkirakan akan menghambat kenaikan euro lebih lanjut. Euro terakhir diperdagangkan stagnan terhadap dollar AS ke 1,3904 <EUR=>. Dalam lelang yang diadakan
Rabu 09 Maret, biaya untuk menerbitkan obligasi dengan tenor 2‐tahun Portugis melonjak ke level tertinggi sejak 1999 silam, menaikkan kekhawatiran bahwa negara
tersebut memerlukan bailout. Jika ECB menaikkan suku bunga maka hal tersebut diperkirakan akan merusak kemampuan finansial negara‐negara seperti Portugal,
Yunani dan Irlandia untuk mendongkrak pertumbuhan ekonominya – berpotensi menekan laju euro. Presiden ECB Jean‐Claude Trichet pekan lalu mengisyaratkan
bahwa suku bunga mungkin akan dinaikkan pada sidang ECB untuk April.
 
• Dollar AS naik tipis 0,1% terhadap yen ke 82,70 yen <JPY=>. Berdasarkan laporan dari institusi keuangan terkemuka ‐ UBS, fund manager terkemuka dunia telah
meningkatkan volume pembelian dollar AS terhadap yen dalam beberapa pekan terakhir, meskipun flutuasi tajam imbal hasil obligasi AS dalam beberapa sesi terakhir
membatasi penguatan dollar terhadap yen akhir‐akhir ini. Sterling naik 0,2% ke 1,6200 <GBP‐D4>, sementara New Zealand dollar turun 0,3% ke 0,7366 <NZD=D4>
setelah bank sentralnya memangkas suku bunga sebesar 50 basis poin. Pemimpin dari 17‐negara zona euro pada pertemuan Jumat 11 Maret ini diperkirakan akan
menyetujui program penanganan krisis kawasan. Namun, kinerja euro masih mendapat dukungan dari perrbedaan suku bunga dengan negara maju lainnya, terutama
sejak meningkatnya ekspektasi kenaikan suku bunga oleh ECB, kontras dengan kebijakan moneter AS yang tampaknya akan tetap longgar dalam beberapa waktu
kedepan.

Brent crude rises on fierce battles in Libya

NEW YORK | Wed Mar 9, 2011 4:15pm EST

NEW YORK (Reuters) - Brent oil prices rebounded toward $116 a barrel on Wednesday as intense fighting in Libya stoked more supply worries and U.S. crude fell as inventories rose sharply, widening Brent's premium against U.S. crude.

Brent crude for April delivery settled $2.88 higher at $115.94 a barrel, having earlier hit $116.18.
U.S. April crude closed at $104.38 a barrel, down 64 cents, after hitting an early high of $105.92.
Brent crude's premium over U.S. benchmark West Texas Intermediate crude widened to $11.56, from $8.04 at the close on Tuesday. That was a gain of $3.52, or 44 percent, the biggest single-day percentage gain of Brent over U.S. crude since November 15.

Muammar Gaddafi's forces struck an oil pipeline leading to the Es Sider town and dropped bombs on storage tanks in the Ras Lanuf oil terminal area in the eastern section of Libya that is rebel-controlled.
Libyan state television blamed the explosions on "al Qaeda-backed" armed elements.
Rebels said they had retaken the main square of the western city of Zawiyah after pro-Gaddafi forces took control of it earlier in the day. The fighting has led to the closure of one of Libya's biggest refineries there.

HIGHER U.S. STOCKPILES

U.S. crude prices weakened after data from the U.S. Energy Information Administration showed crude inventories rose 2.51 million barrels last week, dwarfing the forecast for an increase of just 400,000 barrels in a Reuters poll.
More telling for U.S. crude, crude stocks at the key delivery hub in Cushing, Oklahoma, soared 1.69 million barrels to a record 40.26 million barrels.

But losses for U.S. crude were limited as the weekly data showed drawdowns for gasoline and distillate inventories were bigger than expected, reflecting improving demand.
U.S. gasoline for April jumped more than 8 cents to close at $3.0272 a gallon, while April heating oil gained nearly 6 cents to $3.0707 a gallon, both near 2-1/2-year highs.

PROLONGED STRUGGLE?

Perception of prolonged trouble in Libya was driving the rally in oil prices, said Christopher Bellew, an oil trader at Bache Commodities in London.
"As the outlook for Western intervention looks less likely -- which would bring things to a quick conclusion -- then we are looking at a prolonged struggle," he said.
 Confirming previous non-Libyan estimates, Shokri Ghanem, chairman of Libya's National Oil Corp, told a news conference in Tripoli that production has been cut to about half a million barrels per day, from 1.6 million bpd, as many foreign and local workers have left oil fields.
Libyan oil trade has been paralyzed as banks decline to clear payments in dollars due to U.S. sanctions, though Austrian energy group OMV said it had been buying small amounts of Libyan crude oil and would continue to do so.

NATO Secretary-General Anders Fogh Rasmussen said the alliance was not looking to intervene in Libya, but its military was ready to respond at short notice.
Oil prices fell on Tuesday after Kuwait's oil minister said OPEC was considering raising output due to the Libyan outage.
But an OPEC delegate said on Wednesday that the group saw no need for an emergency meeting to discuss raising output.

Leading OPEC producer Saudi Arabia is already pumping more oil -- up to 9 million barrels per day -- to keep supplies available if needed.
Saudi Shi'ites staged another small protest in the kingdom's Eastern province, defying a ban on demonstrations, but Foreign Minister Prince Saud al-Faisal said dialogue, not protest, was the best way to bring about change.
OPEC member Algeria's oil minister said on Wednesday he was confident that potential domestic unrest in Algeria or Saudi Arabia would not disrupt oil exports.

Headline News 09.03.11

US & GLOBAL 
• Bursa saham Wall Street berhasil menguat ditunjang oleh kombinasi dari perkiraan optimis keuntungan dari Bank of America dan penurunan
harga minyak dunia. Indeks S&P500 melonjak diatas level trendline yang berkembang sejak 6‐bulan terakhir, setelah pada sesi Senin sempat
berada dibawah level tersebut. Demikian pula indeks komposit Nasdaq yang berhasil menguat diatas level moving average 50‐hariannya yang
menguatkan indikasi uptrend, meskipun volume perdagangan cukup tipis. Saham‐saham keuangan memimpin kenaikan, dimana sub‐indeks
keuangan S&P <. GSPF> naik hingga 2,2%. Indeks Dow Jones <. DJI> naik 124,58 poin atau 1,03% ke 12,214.61, S&P500 <. SPX> menguat 11,69
poin atau 0,89% ke 1,321.82 dan Nasdaq <. IXIC> naik 20,14 poin atau 0,73% ke 2,765.77.
 
• Harga emas turun dibawah 1.430 USD per troy ounce setelah sempat membukukan rekor harga tertinggi pada sesi Selasa 08 Maret lalu.
Pelemahan harga emas ini dipengaruhi oleh turunnya harga minyak dunia dan naiknya bursa saham Wall Street (salah satu indikator naiknya risk
appetite) yang kemudian memicu aksi ambil untung pelaku pasar terhadap emas menyusul kenaikan tajamnya dalam beberapa sesi terakhir.
Harga spot emas <XAU=> turun 0,2% ke 1,427.54 USD per troy ounce.
 
• Harga minyak dunia melemah pada sesi Selasa 08 Maret, minyak Brent London turun hampir 2% setelah Menteri Perminyakan Kuwait mengatakan
OPEC tengah mempertimbangkan meningkatkan produksi menyusul terganggunya produksi di Libya dan kekhawatiran akan meluasnya gejolak
unjuk rasa pada negara‐negara di kawasan Timur Tengah dan Afrika Utara tersebut. Harga minyak Brent untuk pengiriman April <LCOc1> turun
1,98 USD ke 113,06 USD per barel, dan harga minyak mentah Crude AS untuk pengiriman April <CLc1> turun 42 sen ke 105,02 USD per barel.
 
• Dollar AS menguat terhadap euro menyusul naiknya kekhawatiran bahwa beberapa negara di kawasan Uni‐Eropa dengan kondisi finansialnya saat
ini tidak akan mampu menahan tingkat suku bunga yang lebih tinggi. Namun demikian dukungan bagi berlanjutnya penguatan dollar nampaknya
masih memerlukan landasan dari isyarat bahwa The Fed akan mulai menarik diri dari kebijakan moenter longgarnya (meskipun nampaknya masih
jauh dari harapan). Pemangkasan peringkat kredit terhadap Yunani dan Spanyol baru‐baru ini kembali mengingatkan investor akan biaya pinjaman
yang lebih tinggi dan dengan kurs mata uang yang kuat akan menyulitkan bagi negara yang terbebani hutang untuk mendorong pertumbuhan
ekonominya. Kondisi tersebut kemudian menekan euro hingga dibawah level 1,3860, setelah pada Senin 07 Maret berhasil mencatat level
tertinggi dalam 4‐bulan terakhir di 1,4036. Hingga akhir sesi New York, euro tercatat melemah 0.5% ke 1,3898 <EUR=>. Dollar AS juga menguat
0,5% ke 82,66 yen <JPY=>.
 
• Pelemahan harga minyak dunia menekan Swiss franc, investor membukukan keuntungan dari penguatan tajam franc akhir‐akhir ini, dollar AS
tercatat menguat hampir 1% terhadap Swiss franc dan euro sempat naik hingga 1.3041 fran yang merupakan level tertinggi dalam kurun 2‐pekan
terakhir. Sterling tertekan penguatan dollar AS, sterling turun tipis 0.25% ke 1.6158 dan tercatat menguat 0.7% terhadap franc ke 1.5111.

Headline News 08.03.11

US & GLOBAL

•

Investor menjual saham-saham teknologi pada perdagangan perdana pekan ini, dimana Nasdaq diindikasikan berada pada level

teknikal penting menyusul ketidakpastian atas lonjakan harga minyak yang berpotensi mendorong volatilitas pada perdagangan

dalam beberapa hari kedepan. Indeks Nasdaq <.IXIC> turun 1,4% di 2.745.63 diatas level

moving average

50-hariannya, level

teknis yang jika berhasil ditembus diprediksi akan memicu koreksi lebih dalam lagi. Indeks Dow Jones <.DJI> turun 79,85 poin atau

0,66% ke 12,090.03, S&P500 <. SPX> turun 11,02 poin atau 0,83 persen, ke 1,310.13.

•

Euro melemah pada akhir sesi perdagangan AS akibat kembalinya kekhawatiran akan kondisi hutang negara-negara di kawasan

Uni-Eropa, meskipun tingginya ekspektasi kenaikan suku bunga ECB masih berpotensi mendukung kinerja mata uang tunggal zona

eropa tersebut. Setelah sempat menguat hingga level 1.4037 terhadap dollar AS yang merupakan level tertinggi dalam kurun 4-

bulan terakhir, euro beringsut melemah setelah dimulainya perdagangan sesi London dan turunnya likuiditas di bursa New York.

Euro <EUR=> tercatat ditutup melemah 0.1% ke 1,3975. Masalah hutang negara-negara di kawasan Uni-Eropa - yang dalam

beberapa bulan terakhir ini tidak lagi menonjol, kembali menyeruak setelah lembaga pemeringkat Moody's memangkas peringkat

hutang Yunani sebanyak tiga derajat dan masih berpotensi mengalami pemangkasan lebih lanjut.

•

Pada saat yang sama, minat investor terhadap status

safe haven

yang dimiliki dollar AS telah berkurang meski eskalasi gejolak

geopolitik masih berlanjut. Minimnya minat terhadap dollar AS ini merupakan dampak dari lonjakan harga minyak dunia yang

berprospek menaikkan tekanan inflasi dan adanya ekspektasi bahwa laju suku bunga The Fed akan tertinggal dari ECB dan juga

BoE. Sikap ECB sangat kontras dengan The Fed, yang diperkirakan akan menjaga kebijakan moneter yang longgar dalam beberapa

waktu kedepan. Hal mana mencerminkan keprihatinan The Fed akan prospek pertumbuhan ekonomi AS seiring naiknya tekanan

inflasi. Dollar tercatat stagnan terhadap yen ke 82.23 <JPY=>, sementara euro turun 0,1% terhadap yen ke 114,95 <EURJPY=>

dan naik 0,1% terhadap 1,2944 Swiss franc <EURCHF=>.

•

Harga emas dunia mencatat kenaikan ke rekor tertingginya, ditunjang oleh meningkatnya kerusuhan di Libya dan adanya spekulasi

bahwa Khadafi tengah mencari celah untuk meninggalkan negara itu. Sementara harga perak dunia naik lebih dari 1% setelah

sempat menyentuh level tertinggi sejak 31-tahun terakhir seiring kuatnya permintaan fisik turunnya pasokan jangka pendek ke

industri. Harga spot emas <XAU=> sempat mencapai rekor harga tertinggi di 1444.40 USD per troy ounce, dan tercatat ditutup

naik 0.23% ke 1432.80 USD per troy ounce.

•

Sementara itu harga minyak mentah Brent berbalik melemah setelah sempat naik diatas 118 USD per barel, sedangkan harga

minyak Crude AS melepas keuntungan di awal sesi setelah kekhawatiran tentang konflik Libya dan ancaman gangguan pasokan

yang lebih luas di Timur Tengah sempat mengangkat ke level tertinggi sejak September 2008. Maraknya aksi ambil untung para

pelaku pasar, kuat terindikasi dalam perdagangan perdana awal pekan ini, seiring naik tajamnya harga minyak dalam beberapa sesi

terakhir. Minyak mentah Brent untuk pengiriman April <LCOc1> turun 93 sen ke 115,04 USD per barel, setelah sempat menguat

hingga 118,50 USD per barel, sedangkan minyak mentah Crude AS untuk pengiriman April <CLc1> tercatat menguat 1,02 USD ke

105,44 USD per barel, penutupan tertinggi sejak September 2008.

Headline News 07.03.11

US & GLOBAL 
• Bursa saham Wall Street ditutup melemah pada akhir pekan lalu, menghapus penguatan tajam dalam seminggu terakhir. Buruknya kinerja bursa AS tersebut
dipengaruhi oleh masih dominannya kekhawatiran investor pada gejolak geopolitik Timur Tengah dan lonjakan harga minyak yang diperkirakan akan berlanjut
menahan kinerja bursa dalam sepekan kedepan. Sentimen negatif menutupi rilis data sektor ketenagakerjaan AS yang membaik, melebihi perkiraan.
 
• Sementara itu saham‐saham sektor perbankan melemah setelah adanya berita bahwa Bank of America Merrill Lynch mengatakan bahwa pendapatan kuartal pertama
perbankan AS akan tertekan oleh meningkatnya harga minyak serta menurunnya aktivitas perdagangan investor. Indeks Dow Jones <DJI.> turun 88,32 poin atau
0,72% ke 12,169.88, S&P500 <. SPX> turun 9,82 poin atau 0,74% ke 1,321.15 dan Nasdaq <. IXIC> turun 14,07 poin atau 0,50% ke 2,784.67. Dalam sepekan terakhir,
Dow Jones naik 0,3% dan S&P serta Nasdaq naik 0,1%.
 
• Harga emas naik diatas 1.430 USD per troy ounce pada sesi Jumat 04 Maret, sementara perak naik 3% ke level tertinggi 31‐tahun terakhir menyusul meroketnya harga
minyak dunia didorong oleh melebarnya bentrokan di Libya yang memicu investor mengalihkan investasinya pada aset safe haven. Emas sempat mencapai rekor
tertinggi sepanjang sejarah di 1,440.10 USD per troy ounce pada hari Rabu 02 Maret, membukukan kenaikan berturut‐turut dalam 5‐pekan terakhir. Harga spot emas
<XAU=> ditutup menguat 0,8% ke 1,427.31 USD per tory ounce, dalam sepekan terakhir emas tercatat menguat 1.5%.
 
• Harga minyak Brent menguat diatas level 116 USD per barel, sementara harga minyak Crude AS mencapai level tertinggi sejak September 2008, menyusul intensifnya
pertempuran di Libya yang mengancam suplai minyak negara tersebut. Harga minyak mentah Brent untuk pengiriman April <LCOc1> naik 1,18 USD ke 115,97 USD per
barel, setelah mencapai level tertinggi di 116,49 USD per barel. Sementara itu harga minyak mentah Crude AS untuk pengiriman April <CLc1> naik 2,51 USD ke 104,42
USD per barel, penutupan tertinggi sejak September 2008.
 
• Dollar AS diprediksi akan berlanjut melemah dalam sepekan kedepan seiring ekspektasi bahwa suku bunga ECB akan naik mendahului The Fed. Dat sektor
ketenagakerjaan AS untuk Februari dirilis menguat, melebihi perkiraan ekonom, namun investor kurang puas dengan hasil data tersebut, karena mengharapkan data
dirilis lebih baik lagi.
 
• Investor melihat akselerasi yang lebih kuat dari pertumbuhan sektor ketenagakerjaan AS diperlukan bagi The Fed untuk mengakhiri program quantitative easing jilid
dua. Tingkat pengangguran AS secara tidak terduga mengalami penurunan dan Non‐Farm Payrolls naik menjadi 192.000, dibandingkan data Januari yang hanya
63.000. Departemen Tenaga Kerja AS melaporkan bahwa perekrutan tenaga kerja di AS pada Februari mencapai level tertinggi sejak bulan Mei 2010 dan
pengangguran merosot ke 8,9%, terendah dalam 2‐tahun terakhir. Data‐data tersebut belum mengubah ekspektasi bahwa The Fed akan mempertahankan kebijakan
moneter longgar, kondisi mana menekan dollar AS terhadap mata uang utama dunia lainnnya. Indeks dollar AS turun 0,1% <. DXY>. Situasi AS kontras dengan
pandangan bahwa ECB akan menaikkan suku bunga pada bulan April, dengan demikian ECB akan mendahului The Fed dan BoE dalam memperketat kebijakan
moneter. Dalam sepekan terakhir, euro tercatat naik 1,7% terhadap dollar AS <EUR=>, sementara dollar AS naik 0,8% terhadap yen <JPY=>. Sementara itu sterling
tercatat menguat 1% terhadap dollar dalam seminggu terakhir dan dollar AS naik 1.9% terhadap Swiss franc. (Research – Ahim)
SWISS
 
• Swiss franc tertekan kembali ke level terendahnya dalam dua minggu terhadap euro dan naik terhadap dollar AS Jumat lalu setelah Swiss National Bank Vice‐
Chairman Thomas Jordan mengatakan tingkat suku bunga rendah tidak akan bertahan dalam jangka menengah.
 
• Euro telah menguat kelevel tertingginya terhadap Kamis lalu setelah Presiden ECB Jean‐Claude Trichet mengatakan bank akan mengalami "strong vigilance"
berkenaan dengan naiknya tingkat inflasi, sebuah ungkapan banyak menandai kenaikan tingkat suku bunga dapat terjadi awal April.
 
• Naiknya tingkat suku bunga dapat membuat mata uang lebih menarik bagi investor, termasuk mereka dapat membeli mata uang dari naiknya yield.
 
• Swiss National Bank akan menaikkan tingkat suku bunga dalam jangka menengah untuk menjamin stabilitas harga, SNB vice‐chairman Thomas Jordan mengatakannya
dalam suatu wawancara.
 
• "It is clear that this low interest rate level is not sustainable in the medium and long term because keeping them at this level would increase the risk that price stability
can not be ensured," Jordan mengatakannya pada surat kabar berbahasa Swiss French Le Temps.
 
• SNB memperluas ekspektasi untuk menahan tingkat suku bunga pada meeting 17 Maret tetapi pembicaraan dari European Central Bank telah mendorong pasar untuk
memperkirakan kenaikan tingkat suku bunga pertama kalinya dari SNB.

Oil hits 2.5-year highs on Libya, stocks slip

HONG KONG | Sun Mar 6, 2011 8:15pm EST

HONG KONG (Reuters) - Crude oil prices rose to 2-1/2 year highs as worries about supply disruption increased due to deepening unrest in Libya, while Asian stocks slipped on Monday as concerns about the Middle East also weighed on equities.

U.S. crude hopped above the $105 a barrel line to reach its highest level since September 2008 as a counter-offensive by Libya's Muammar Gaddafi against rebels raised concerns that Africa's largest biggest holder of oil reserves is sliding into civil war.

Gold, often sought in times of geopolitical tensions, rose to near a lifetime high at $1,434.60 an ounce, while silver surged 3 percent to 31-year highs as investors piled into safe havens. It hit a record $1,440 last week.

A reasonably strong batch of U.S. data that showed the jobless rate falling to a near two-year low failed to boost sentiment, as investors remained firmly focused on the developments in the Middle East and the resulting longer-term impact on oil.

While a 22 percent rise in U.S. oil prices over the last two weeks has failed to have a significant impact on Asian stock markets so far, market players worried that further sharp price increases may stifle growth and fuel inflationary pressures.

"With strong, but not spectacular, U.S. payrolls we're seeing more signs of global recovery, but in the long term, high oil prices can threaten the earnings of Japanese companies and that's what investors are concentrating on now," said Mitsuo Shimizu, deputy general manager at Cosmo Securities in Tokyo.

Tokyo's Nikkei average .N225 fell more than 1 percent, while stocks elsewhere in Asia .MIAP00000PUS dipped 0.2 percent. South Korea's KOSPI .KS11 was a shade lower while Australia's S&P/ASX 200 index .AXJO was down nearly 1 percent.

Wall Street erased most of its weekly gains on Friday, with the S&P 500 Index .SPX falling by 0.74 percent, as fears of more geopolitical turmoil overshadowed positive U.S. data. The CBOE Volatility Index VIX .VIX, Wall Street's so-called fear gauge, rose 2.7 percent to 19.11. .N
In currency markets, the dollar struggled against a basket of major currencies .DXY after failing to get a big boost from the U.S. data, while the euro was supported on expectations of an interest rate hike next month from a hawkish European Central Bank.

Headline News 04.03.11

US & GLOBAL 
• Bursa saham Wall Street menguat dan mencatat performa harian terbaik dalam 3‐bulan terakhir, penguatan mana ditopang tingginya optimisme investor pada rilis data Non‐
Farm Payrolls Februari, meskipun volume perdagangan cukup tipis. Dengan tertahannya penguatan minyak, pelaku pasar saat ini berfokus pada rilis data sektor ketenagakerjaan
AS untuk Februari, dimana berdasarkan perkiraan terakhir, Non‐Fram Payrolls diproyeksikan naik 185.000, tetapi sentimen pasar mulai condong ke arah angka diatas 200.000.
 
Sementara itu data jobless claims mengalami penurunan 368.000 pada pekan lalu, yang merupakan level terendah dalam kurun 2‐1/2 tahun terakhir. Sedangkan survei dari ISM
untuk non‐manufacturing mengungguli perkiraan, sebesar 59.7. Saham‐saham industri memimpin penguatan bursa, didorong oleh rendahnya nilai tukar dollar AS dan
membaiknya prospek permintaan global. Indeks Dow Jones <.DJI> naik 191,40 poin atau 1,59% ke 12,258.20, S&P500 <.SPX> naik 22,53 poin atau 1,72% ke 1,330.97 dan Nasdaq
<. IXIC> naik 50,67 poin atau 1,84% ke 2,798.74. Dow dan S&P 500 membukukan kenaikan harian terbesar sejak 1 Desember 2010.
 
• Euro melonjak ke level tertinggi dalam kurun 4‐bulan terakhir terhadap dollar AS, mendekati level psikologis penting di 1,40. Penguatan tajam tersebut dipengaruhi komentar dari
Presiden ECB ‐ Jean‐Claude Trichet yang semakin menguatkan ekspektasi kenaikan suku bunga ECB dalam waktu dekat. Dalam konferensi pers setelah sidang ECB yang
memutuskan mempertahankan suku bunga tetap pada 1,0%, Trichet mengatakan bank sentral akan melaksanakan "kewaspadaan yang intens" atas kenaikan inflasi, sebuah
ungkapan yang di masa lalu mengisyaratkan suku bunga akan segera dinaikkan setidaknya dalam satu bulan kedepan.

Euro naik hingga level 1,3976 <EUR=> tertinggi sejak awal
November, setelah naik di atas resistensi sekitar 200‐week moving average di 1,3958. Hingga akhir sesi New York euro tercatat menguat 0.7% ke 1,3963. Indikasi kuat bahwa
kenaikan suku bunga ECB akan terjadi pada April menempatkan ECB di posisi terdepan dalam kenaikan suku bunga sebelum The Fed dan BoE.
 
• Euro juga menguat ke level 114,99 yen <EURJPY=>, yang juga merupakan level tertinggi sejak awal November. Mata uang tunggal Uni‐Eropa tersebut mencatat kenaikan 1%
terhadap sterling ke 85,75 <EURGBP=D4> dan naik 1,5% ke 1.3000 Swiss franc <EURCHF=>. Sementara itu dollar AS menguat 0,6% ke 82,36 yen <JPY=>, mendapatkan dukungan
dari rilis data jobless claims AS yang menunjukkan penurunan ke level terendah dalam kurun lebih dari 2‐1/2 tahun terakhir. Penguatan dollar AS diperkirakan masih akan
bertahan jika data nonfarm payrolls AS untuk Februari dirilis lebih baik dari perkirakan.
 
• Harga emas turun 1,5%, menutup penguatan tajam dalam 4‐sesi sebelumnya yang sempat naik hingga level tertinggi sepanjang sejarah. Pelemahan emas disebabkan adanya
berita tentang proposal Venezuela untuk mengakhiri gejolak di Libya dan pernyataan ECB yang telah siap untuk menaikkan suku bunga dalam waktu dekat. Investor melakukan
aksi ambil untung menyusul turunnya harga minyak dunia setelah pemerintah Venezuala menyatakan bahwa Muammar Kaddafi telah sepakat untuk menerima usulan
pembentukan komisi internasional untuk merundingkan rencana perdamaian di Libya, negara eksportir minyak terbesar ke‐12 dunia. Harga spot emas <XAU=> turun 1.5% ke
1.412,90 USd per troy ounce.
 
• Harga minyak dunia turun dari level tertinggi dalam 2‐1/2‐tahun terakhir, akibat aksi ambil untung pelaku pasar menyusul adanya berita bahwa Venezuela tengah berencana
untuk mengatasi krisis Libya, meskipun pasar sebenarnya masih sangat skeptis pada keberhasilan rencana tersebut. Harga minyak mentah Brent untuk pengiriman April <LCOc1>
turun 1,56 USD ke 114,79 USD per barel. Sedangkan harga Crude AS untuk pengiriman April <CLc1> turun 32 sen ke 101,91 USD per barel.

Libyan rebels push west as Gaddafi receives crimes warning

AL-UQAYLA, Libya | Thu Mar 3, 2011 7:36pm EST

AL-UQAYLA, Libya (Reuters) - Libyan rebels pushed west on Thursday, extending their grip on a key coast road as Muammar Gaddafi received a warning he would be held to account at The Hague for suspected crimes by his security forces.

Venezuela said the Libyan leader had agreed to its proposal for an international commission to negotiate an end to the turmoil in the world's 12th largest oil exporting nation.

But Gaddafi's son Saif al Islam said there was no need for any foreign mediation in the crisis, a leader of the uprising rejected talks with the veteran leader, and the Arab League said cautiously the plan was "under consideration."

In Paris, French Foreign Minister Alain Juppe said France and Britain would support the idea of setting up a no-fly zone over Libya if Gaddafi's forces continued to attack civilians.
President Barack Obama said the United States and the international community must be ready to act rapidly to stop violence against civilians or a humanitarian crisis in Libya.

The uprising, the bloodiest yet against a long-serving ruler in the Middle East or North Africa, has torn through the OPEC-member country and knocked out nearly 50 percent of its 1.6 million barrels per day output, the bedrock of its economy.

In eastern Libya, witnesses said a warplane bombed Brega the oil terminal town 800 km (500 miles) east of Tripoli, for the second day, part of a struggle for control of a strategically vital coast road and oil industry facilities.
Warplanes also launched two raids against the nearby rebel-held town of Ajbadiya, witnesses said.

"CIVILIAN AREAS NOT BOMBED"

But Juma Amer, Secretary for African Affairs at the Libyan Foreign Ministry, told journalists: "Media reports that civilian areas were bombed are false. Police had been and are urged to use maximum self restraint."
Saif said Brega was bombed to scare off militia fighters and to gain control of oil installations.

"First of all the bombs (were) just to frighten them to go away," he told Britain's Sky News.
On the ground, rebels leading the unprecedented popular revolt pushed their front line west of Brega.
They said they had driven back troops loyal to Gaddafi to Ras Lanuf, site of another major oil terminal and 600 km (375 miles) east of Tripoli.
They also said they had captured a group of mercenaries.

In an angry scene at al-Uqayla, east of Ras Lanuf, a rebel shouted at a captured young African and alleged mercenary: "You were carrying guns, yes or no? You were with Gaddafi's brigades yes or no?"
The silent youth was shoved onto his knees into the dirt. A man held a pistol close to the boy's face before a reporter protested and told the man the rebels were not judges.

In The Hague, International Criminal Court prosecutor Luis Moreno-Ocampo said Gaddafi and members of his inner circle, could be investigated for alleged crimes committed since the uprising broke out in mid-February.

"We have identified some individuals in the de facto or former authority who have authority over the security forces who allegedly committed the crimes," Moreno-Ocampo said.
"They are Muammar Gaddafi, his inner circle including some of his sons, who had this de facto authority. There are also some people with formal authority who should pay attention to crimes committed by their people."

Libyan government spokesman Musa Ibrahim told BBC radio the news from The Hague was "close to a joke."
"No fact-finding mission has been sent to Libya. No diplomats, no ministers, no NGOs or organisations of any type were sent to Libya to check the facts ... No one can be sent to prison based on media reports," he said.

Ibrahim Mohammad Ali, a spokesman for the public security department, said Libya had told the United Nations it would allow visits by independent human rights observers.
Libya is not a signatory of the ICC treaty, "but we are willing to deal with the ICC and take action against anyone who has acted outside the law," he told a Tripoli news conference.

A spokesman for Venezuelan President Hugo Chavez, a Gaddafi ally, said the Libyan government had accepted a Venezuelan plan to seek a negotiated solution to the conflict in Libya.
Arab League Secretary-General Amr Moussa said the plan was under consideration and he was waiting for details from Caracas.

SKEPTICISM OVER CHAVEZ PLAN

Oil prices fell briefly on news of the plan, but traders said the fall was due to profit-taking and they were skeptical about any Venezuelan mediation. Brent crude fell more than $3 but by 2000 GMT had recovered to $114.82.

Chavez's plan would involve a commission from Latin America, Europe and the Middle East trying to reach a negotiated outcome between the Libyan leader and rebel forces.
An aide to Mustafa Abdel Jalil, head of the rebels' National Libyan Council, told Reuters the rebels were open to talks only on Gaddafi's resignation or exile to avoid more bloodshed.
"There is nothing else to negotiate," he said.
He also called for foreign air strikes to set up a "no-fly zone" to help the rebels topple Gaddafi.
Save The Children and Medecins Sans Frontieres said they were struggling to get medicine and care to Libya's needy, with gunmen blocking roads and civilians too scared to seek help.
The government has tried to persuade people in Tripoli that life continues as normal. But there were queues at banks, and residents said food prices had gone up and the street value of the Libyan dinar had fallen dramatically against the dollar.

The official news agency said the Libyan parliament had cut car fuel prices by 25 percent to 0.15 dinars ($0.12) a liter.
A fish market near Tripoli's Green Square was mostly empty. "The situation is affecting us," said Ismail, a fisherman. "All the Egyptian workers who run the boats have left."

Just outside rebel-held Zawiyah, west of Tripoli, officials took foreign journalists to a local refinery to show it was controlled by the state. Officials said it was running normally.
But in the center of Zawiyah, rebels were fully in control and said they had enough forces to repel any government attack.

In the opposition stronghold of Benghazi, men of all ages gathered next to the courthouse engaged in fierce debates, enjoying their new-found freedom of speech.
"We must go to Tripoli and get rid of Gaddafi," shouted one, to murmurs of approval from those around him.
"But we have only our shirts to protect us from the cannon," said Ahmed el Sherif, 60, standing on the edge of the group.

The upheaval is causing a humanitarian crisis, especially on the Tunisian border where tens of thousands of foreign workers have fled to safety. But an organized international airlift started to relieve the human flood from Libya as word spread to refugees that planes were taking them home.

Headline News 03.03.11

US & GLOBAL 
• Bursa saham Wall Street berhasil membukukan kenaikan tipis ditengah berlanjutnya kenaikan harga minyak dunia. Penguatan saham‐saham AS tersebut
ditopang membaiknya rilis data ekonomi yang diperkirakan akan dapat mengatasi lonjakan harga minyak dunia saat ini. Sektor‐sektor yang sensitif terhadap
energi berhasil menguat, termasuk diantaranya sektor industrial <GSPI.> yang menguat 0,4% dan material <. GSPS> yang naik 0,2 persen, sedangkan sektor
infotechnology <. GSPT> naik 0,7 persen.
 
• Sementara itu rilis data ekonomi AS cukup positif, dimana Fed Beige Book menunjukkan aktivitas ekonomi akan menguat pada 2011 dan survei
menunjukkan perekrutan tenaga kerja swasta meningkat lebih dari yang diperkirakan, berdasarkan laporan dari ADP Employment Reports yang
menunjukkan kenaikan sebesar 217K. Indeks Dow Jones <. DJI> naik 8,78 poin atau 0,07% ke 12,066.80, S&P500 <. SPX> naik 2,11 poin atau 0,16% ke
1,308.44 dan Nasdaq <. IXIC> menguat 10,66 poin atau 0,39% ke 2,748.07.
 
• Harga emas ditutup stagnan setelah berhasil mencatat rekor kenaikan ke harga tertinggi di 1.440.10 USD per troy ounce menyusul naiknya minat investor
pada aset safe haven didorong oleh beberapa faktor, diantaranya kerusuhan politik di Libya, lonjakan harga minyak dan testimoni Bernanke yang membuat
investor memperkirakan kebijakan moneter AS akan tetap longgar. Harga spot emas <XAU=> naik 10 sen ke 1,433.81 USD per troy ounce.
 
• Harga minyak dunia meroket ke level tertinggi sejak Agustus 2008 akibat berita bahwa terjadi serangan udara di dekat infrastruktur minyak Libya yang
menimbulkan kekhawatiran bahwa sektor produksi minyak akan menjadi target dari upaya Khadafi mempertahankan kekuasaannya. Investor di pasar
minyak dunia tetap berfokus pada kekacauan di Timur Tengah, menyusul adanya sinyal ancaman terhadap pasokan minyak global setelah pemberontak di
Libya memotong jalur ekspor Libya. Harga minyak mentah Brent <LCOc1> naik 93 sen ke 116,35 USD per barel, penutupan tertinggi sejak 21 Agustus 2008.
Sementara itu harga minyak Crude AS <CLc1> ditutup naik 2.6 USd ke 102,23 USD per barel, penutupan tertinggi sejak September 2008. Naiknya harga
Crude AS juga mendapat sokongan dari data EIA yang menunjukkan adanya penurunan pada persediaan minyak AS.
 
• Euro naik ke level tertinggi dalam 4‐bulan terakhir seiring meningkatnya ekspektasi kenaikan suku bunga ECB yang luas diperkirakan akan mendahului The
Fed. Swiss franc melambung ke rekor tertinggi terhadap dollar AS seiring meningkatnya ketegangan di Libya yang menaikkan ketakutan akan menyebarnya
kerusuhan tersebut ke negara‐negara eskportir minyak lainnya, terutama Arab Saudi. Sebuah kondisi yang memaksa investor mengarahkan asetnya pada
Swsiss franc sebagai aset yang berstatus safe haven. Euro <EUR=> naik 0.7% ke 1.3869, setelah sempat menguat hingga 1.3890 yang merupakan level
tertinggi sejak 9 November.
 
• Sementara itu indeks dollar, yang menjadi acuan kinerja dollar AS terhadap the basket of currencies, <DXY.> turun ke level 76,529, yang merupakan titik
terendah sejak awal November 2010. Mata uang AS tersebut tidak berhasil memperoleh keuntungan dari mengerucutnya risk aversion dikalangan investor
akhir‐akhir ini, kondisi mana memunculkan pertanyaan dikalangan investor apakah dollar AS mulai kehilangan status safe haven‐nya. Dollar justru tertekan
seiring pandangan bahwa lonjakan harga minyak akhir‐akhir ini akan mendorong bank sentral lain seperti ECB dan BoE untuk menaikkan suku bunga guna
memerangi tekanan inflasi. Investor juga khawatir bahwa meningkatnya biaya energi dapat menghambat belanja konsumen, yang menyumbang sekitar dua
pertiga dari ekonomi AS. Dollar AS ditutup stagnan di 81.88 yen <JPY=>, setelah sempat mencapai level 81,57. Sedangkan terhadap Swiss franc, dollar AS
turun 0.5% ke 0.9237 setelah sempat membukukan rekor harga terendah sepanjang masa di 0.9202 franc <CHF=>.

Oil settles at 2-1/2 year high on Libya violence

NEW YORK | Wed Mar 2, 2011 7:33pm EST

NEW YORK (Reuters) - Oil rose to settle at its highest level since August 2008 on Wednesday after an airstrike near Libya's oil infrastructure raised more fears the OPEC nation's oil sector could become a target in embattled leader Muammar Gaddafi's efforts to hold power.

News of the strike in Brega, about kilometers (1.2 miles) from a Libyan oil terminal, added to two weeks of fears the unrest could spill over into other large oil producers in the region.

Oil markets remained focused on the turmoil in the Middle East, which could signal another threat to global oil supplies after the Libyan revolt cut exports.
"It looks like an attack fairly close to what is one of Libya's largest storage and export terminals," said Andy Lebow, trader at MF Global in New York.

"It's hard to say if the Libyan government is trying to target oil infrastructure in the east or whether they're just targeting rebel-held areas, but the market's reacting to this threat either way."
Brent crude settled 93 cents higher at $116.35 a barrel, the highest settlement since August 21, 2008, off the session high of $117.81. The Libyan crisis spurred Brent to a 2-1/2 year high near $120 a barrel on February 24.

U.S. crude futures settled at $102.23 a barrel, up $2.60, ending above $100 for the first time since September 2008. U.S. oil also found some support from U.S. Energy Information Administration data showing a drawdown in U.S. oil inventories.
Crude had pared gains in the morning after EIA data showed inventories at the Cushing, Oklahoma, delivery point for the New York Mercantile Exchange's oil futures contract hit a record high.

SPREAD NARROWS

Brent's premium against U.S. crude narrowed to above $14, after touching a record $17.12 on Tuesday. High inventories at the Cushing, Oklahoma delivery point for U.S. crude has kept a lid on U.S. oil price gains this year, sending the spread to a series of all-time highs.

"It seems like the spread gets out there to $16 and then you see some sellers trying to take some profit and the EIA news was a little bit bullish for U.S. crude as well," said Mike Zarembski, senior commodities analyst for optionsXpress in Chicago.

Oil prices hit their highest levels since August 2008 last week on Libya's outages and worries regional production could be hit should similar uprisings develop in other producers in the Middle East and North Africa.
This week, the rebound in oil prices in the wake of violence in Libya has sent other commodity prices rising. Gold reached a record high as buyers looked for safe havens amid political instability.

LIBYAN DISRUPTIONS

In Libya, disruptions at some ports continued, but trade sources said four tankers with at least 2.4 million barrels of crude oil have sailed in the past 24 hours despite mounting violence.
 So far, normal output of 1.6 million barrels per day had been cut to 700,000-750,000 bpd as most of the industry's foreign workers had taken flight after the crisis began, according to Shokri Ghanem, head of Libya's National Oil Company.

But prolonged conflict could push crude oil prices above $130 a barrel, Ghanem told Reuters.
Governments in Yemen, Oman, Iran and Iraq have clashed with protesters seeking reforms as popular unrest has spread in the region holding more than 60 percent of the world's oil reserve.

Headline News 02.03.11

US & GLOBAL 
• Kekhawatiran bahwa kenaikan harga minyak akan menghambat pemulihan ekonomi mendasari aksi jual investor yang melakukan mekanisme lindung nilai
terhadap prospek penurunan lebih lanjut. Harga minyak mentah Brent naik di atas 115 USD per barel akibat gangguan pasokan minyak dan menyebarnya
kekerasan politik di Timur Tengah dan Afrika Utara. Ketua The Fed Ben Bernanke mengatakan lonjakan harga minyak akhir‐akhir ini tidak akan menghambat
laju pertumbuhan ekonomi, namun demikian komentar tersebut tidak berhasil meyakinkan pelaku pasar yang sudah kadung khawatir bahwa kekacauan di
Timur Tengah akan menimpa Arab Saudi, eksportir minyak terbesar dunia. Indeks Dow Jones <.DJI> turun 169,38 poin atau 1,39% ke 12,056.96, S&P500
turun 21.04 poin, atau 1,59% ke 1,306.18 dan Nasdaq <. IXIC> turun 44,86 poin atau 1,61% ke 2,737.41.
 
• Harga minyak mentah Brent naik diatas 115 US per barel akibat gangguan pasokan dan potensi menyebarnya kerusuhan di Timur Tengah dan Afrika Utara.
Sementara harga minyak mentah Crude AS naik lebih dari 2% diatas 99 USD per barel menyusul adanya laporan dari Reuters bahwa aktivis hak asasi
manusia memperkirakan pihak berwenang Saudi telah menahan seorang ulama Syiah yang potensial memicu konflik sektarian di negara eksportir minyak
terkemuka dunia tersebut. Harga minyak Brent untuk pengiriman April <LCOc1> naik 3,59 USD menjadi 115,39 USD per barel dan Crude AS <CLc1> naik 2,66
USD ke 99,63 USD per barel, penutupan tertinggi sejak 30 September 2008.
 
• Sementara itu harga emas menguat lebih dari 1% mencapai level tertinggi sepanjang sejarah 1.434,65 USD per troy ounce akibat berlanjutnya kekacauan
politik di Libya yang dikhawatirkan menyebar ke negara lain di Timur Tengah yang kemudian mendorong minat investor pada aset safe haven. Kenaikan
emas juga dipengaruhi lonjakan harga minyak dunia seiring posisi emas sebagai instrumen inflation hedge. Harga spot emas <XAU=> naik 1.5% ke 1433.50
setelah sempat membukukan kenaikan harian ke level tertinggi sepanjang sejarah 1.434,65 USD per troy ounce.
 
• Dollar AS berhasil bangkit dari keterpurukannya dalam beberapa sesi ke level terendah dalam kurun 3‐1/2‐bulan month terakhir terhadap mata uang utama
lainnya seiring tertahannya rally euro untuk menembus level teknikal yang cukup penting. Analis memperkirakan euro tetap potensial untuk melanjutkan
penguatannya menjelang sidang ECB Kamis 03 Maret mendatang, dimana diperkirakan ECB akan menunjukkan sinyal kesediaan untuk menaikkan suku
bunga. Indeks dolar <.DXY>, yang merupakan panduan kinerja dollar AS terhadap sejumlah mata uang utama dunia, naik 0.2% dari penutupan sebelumnya
ke 77.053. Hingga akhir sesi New York, euro turun 0,2% ke 1,3773 <EUR=>. Ketidakpastian kondisi di Timur Tengah dan Afrika Utara masih berpotensi
menaikkan minat beli investor pada mata uang safe haven terutama Swiss franc dan yen.
 
• Ketua The Fed ‐ Ben Bernanke tidak memberikan banyak petunjuk apakah The Fed mulai mempertimbangkan pengetatan kebijakan moneter. Dalam
testimoni di hadapan Kongres AS, Bernanke mengatakan bahwa risiko penurunan pertumbuhan ekonomi AS telah berkurang dan untuk pertama kalinya
menegaskan bahwa risiko deflasi sekarang mulai "diabaikan." Namun Bernanke juga menyatakan pertumbuhan lapangan kerja masih rendah dan belum
memberikan petunjuk apakah The Fed sedang mempertimbangkan untuk mengakhiri program pembelian obligasi senilai 600 miliar USD sebagai langkah
stimulasi pertumbuhan ekonomi. Komentar Bernanke tersebut menekan kinerja euro terhadap dolar. Terhadap yen, dollar AS naik 0,2% ke 81,94 yen
<JPY=>, ditopang maraknya aksi beli dari eksportir Jepang. Terhadap Swiss franc, dollar AS naik 0,1% ke 0,9297 <CHF=>. Sterling <GBP=> sempat mencatat
penguatan tertinggi dalam kurun 13‐bulan terakhir ke level 1.6328 ditopang membaiknya rilis data ekonomi Inggris yang memicu berlanjutnya ekspektasi
kenaikan suku bunga BoE. Namun hingga akhir sesi New York, sterling ditutup stagnan di 1.6260.

Oil price fuels Wall Street selling

NEW YORK | Tue Mar 1, 2011 6:46pm EST

NEW YORK (Reuters) - Concerns that rising oil prices could hurt economic recovery prompted investors on Tuesday to sell stocks and hedge against further declines.

The CBOE Volatility Index VIX .VIX, Wall Street's so-called fear gauge, jumped 14.5 percent to 21.01 on growing uncertainty about oil. The index measures the cost of using options as insurance against a decline in the S&P 500 .SPX index.

"We've been seeing how quickly the VIX can spike up, and there is no reason to believe that it won't double from where it is now," said Harry Rady, CEO of Rady Asset Management in San Diego, California.
Brent crude rose above $116 a barrel as supply disruptions persist and political violence spreads in the Middle East and North Africa. Higher oil translates into increased energy and gasoline costs for consumers.

U.S. crude and gasoline futures extended gains in extended-hours trading after data showed domestic crude inventories unexpectedly fell. U.S. stock index futures fell slightly, with S&P futures off 3.3 points.
Federal Reserve Chairman Ben Bernanke said the recent surge in oil was unlikely to derail the economy, but his comments did little to reassure investors worried that turmoil in the Middle East could hit Saudi Arabia, the world's largest oil exporter. The Dow Jones Transports index .DJT fell 2.5 percent.

Stocks have taken their cue from oil since the start of turmoil in the Middle East and North Africa in January. The S&P had its weakest performance since November last week but still tallied three months of gains.
The Dow Jones industrial average .DJI fell 169.38 points, or 1.39 percent, at 12,056.96. The Standard & Poor's 500 Index dropped 21.04 points, or 1.59 percent, to 1,306.18. The Nasdaq Composite Index .IXIC lost 44.86 points, or 1.61 percent, to 2,737.41.

About 8.67 billion shares traded on the New York Stock Exchange, NYSE Amex and Nasdaq, higher than last year's daily average of 8.47 billion. Volume has recently been solid on days when the market falls, but often comes under 7 billion on up days.

Investors took a cautious stance as cyclical sectors experienced the biggest losses, while defensive sectors such as utilities, healthcare and consumer staples limited losses.
Wal-Mart Stores Inc (WMT.N) and Coca-Cola Co (KO.N) helped the Dow to limit losses. Wal-Mart rose 0.2 percent to $52.06, while Coca-Cola was up 1.5 percent to $64.91.

Gasoline and heating oil futures each gained about 3.5 percent to $3. The S&P's materials .GSPM index dropped 2.3 percent while the industrials .GSPI dropped 2.2 percent. According to AAA, the national average price of regular unleaded gasoline is currently at $3.35 per gallon.
"The real story is gasoline," said Nick Kalivas an analyst, at MF Global in Chicago. "The market is getting worried that you could see $4 gasoline in the U.S."

Financial stocks came under pressure after JPMorgan Chase & Co (JPM.N) said it could face "material" fines and "significant" legal costs from a wide-ranging probe into the industry's foreclosure practices.
JP Morgan fell 2.3 percent to $45.60 while the KBW bank index .BKX fell 2.3 percent.
Declining stocks outpaced advancing stocks on the NYSE by a ratio of about 3 to 1, while on the Nasdaq, decliners beat advancers by a ratio of 10 to 3.