Market

MPT Market Report – 9th March 2010 Daily forex market reports, available from the MyPrivateTradeTV YouTube Channel. www.myprivatetrade.com.

Yesterday the Euro climbed against the Dollar to 1.3704 before falling nearly 100 pips to 1.3605. The pair has consolidated around the 1.361 level.
Sterling also lost ground against the Dollar, falling 133 pips in just one and a half hours. The pair continued to fall during the Asian session, and has since broken the 1.5 support level, currently trading at 1.4993.
The Yen remained steady against the Dollar, making just 30 pips during the day. During the Asian session it furthered this by another 30 pips and is now trading around the 90.00 level.
Looking ahead, in the UK, BRC retail Sales figures were released at 01.00 CET. It is the actual value of retail sales from participating retail companies. Februarys figure is up from -7% last month, at 2.2% – this may be bullish for Sterling.
Also at 01.00 CET, UK RICS House Price Balance figures were released. This is a measure of housing costs in the UK, provided by the Royal Institute of Chartered Surveyors. The figure was expected to be up by 3% in February at around 35%. However, the actual result is at 17%, a considerable drop which may concern investors, and could be bearish for Sterling.
And at 10.30 CET, the UK Goods Trade Balance figures will be announced for January. This is a balance between goods exports and imports. Many traders expect the January result to be down around the minus £6.9bn level. This could cause some volatility for Sterling today!
If Japan, Leading economic figures released earlier today at 06:00 are better than expected. This economic indicator consists of 12 other indexes and gives an overall view of the Japanese economy. Todays slightly better than expected result may be bullish for the Yen.

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Gujarat is the westernmost state in India and its capital is Gandhinagar. Its largest city is Ahmedabad. Gujarat is home to the Gujarati speaking people of India. The state encompasses major sites of the Indus Valley Civilization such as Lothal and Dholavira. Gujarat played an important role in the economic history of India throughout the history of India. It is home to major ports in India’s ancient and modern history, leading it to become one of the main trade and commerce center of India. Lothal, one of the world’s first ports, is located in Gujarat. Gujarat has one of the fastest growing economies in India

Gujarat has some of the largest businesses in India. Major agricultural produce of the state include cotton, groundnuts (peanuts), dates, sugar cane, milk and milk products. Industrial products include cement and petrol.
39% of India’s industrial output
10% of its mineral production
80% of salt production
20% of India’s exports
25% of its textile production
40% of India’s pharmaceutical products
67% of petrochemical production
Longest shoreline — 1,670 kilometres (1,040 mi)

The world’s largest shipbreaking yard is in Gujarat near Bhavnagar at Alang. Reliance Petroleum Limited, one of the group companies of Reliance Industries Limited founded by Dhirubhai Ambani, operates the oil refinery at Jamnagar, which is the world’s largest grass-roots refineries. The company has also planned another SEZ (special economic zone) in Jamnagar.

Gujarat ranks first nationwide in gas-based thermal electricity generation with national market share of over 8% and second nationwide in nuclear electricity generation with national market share of over 1%.
Over 20% of the S&P CNX 500 conglomerates have corporate offices in Gujarat.

As per RBI report, in year 2006-07, 26% out of total bank finance in India was in Gujarat.

Gujarat’s major cities include Ahmedabad, Surat, Baroda(Vadodara) and Rajkot. Surat is the fastest growing city and Ahmedabad is the third fastest growing city in India. Major resources produced by the state include cotton, peanuts, dates, sugarcane, and petrol. The state is rich in calcite, gypsum, manganese, lignite, bauxite, limestone, agate, feldspar and quartz sand, and successful mining of these minerals is done in their specified areas.

Gujarat produces about 90% of Indias required amount of Soda Ash and gives the country about 66% of its national requirement of salt. It is one of India’s most prosperous states, having a per-capita GDP significantly above India’s average. Kalol Khambat and Ankaleshwar are today known for their oil and natural gas production. Dhuvaran has a thermal power station, which uses coal, oil and gas. The Tarapur nuclear station in Maharashtra supplies the main power. Also, on the Gulf of Khambat, 50 kilometres (31 mi) southeast of Bhavnagar, is the Alang Ship Recycling Yard (the world’s largest). General Motors produces the Astra car at Halol near Vadodara. Jalalpur is a large town of Gujarat, where several small and large textile industrial units have been established. Surat, a city by the Gulf of Khambat, is a hub of the global diamond trade. In 2003, 92% of the world’s diamonds were cut and polished in Surat.

During the period of 1960-90, Gujarat established itself as a leader in various industrial sectors including textiles, engineering, chemicals, petrochemicals, drugs and pharmaceuticals, dairy, cement and ceramics, and gems and jewellery, amongst others. A post-liberalization period saw Gujarat’s State Domestic Product (SDP) rising at an average growth rate of 14% per annum in real terms (from 1994-2002). Gujarat achieved as much as 35% of augmentation in its power generation capacity during the periods 1995-96 and 2000-01. The producers (IPPs) have contributed significantly in this addition. Gujarat is one of the first few states in India to have encouraged private sector investment, some of which are already in operation.

Animal husbandry and dairying have played a vital role in the rural economy of Gujarat. Dairy farming, primarily concerned with milk production, functions on a cooperative basis and has more than a million members. Gujarat is the largest producer of milk in India. Amul milk co-operative federation products are well known all over India, and it is Asia’s biggest dairy. Among livestock raised are buffalo and other cattle, sheep, and goats. As per the results of livestock census 1997, there were 209.70 lakh livestock in Gujarat State. As per the estimates of the survey of major livestock products, during the year 2002-03, the Gujarat produced 6.09 million tonnes of milk, 385 million eggs and 2.71 million kg of wool. Gujarat also contributes inputs to industries like textiles, oil, and soap.

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In todays market report the dismal sales outlooks for some heavyweight tech firms dragged down Asian share markets, while worries about the fiscal health of Greece and Portugal undermined investor confidence.

Australian shares fell to cap their worst monthly performance since November 2008, weighed down by worries over the U.S. economic recovery, prospects of an Australian interest rate rise, and weaker commodity prices.

Japan’s Nikkei fell on negative earnings surprises from firms with Nippon Steel warning of a first annual net loss in seven years.

Seoul shares extended losses to retreat below the psychologically significant 1,600 point level led by technology firms.

Samsung Electronics, the world’s top maker of memory chips and LCD screens, failed to lift the gloom despite its forecast-beating earnings as the region’s shares head for their worst monthly decline since early 2009.

BHP Billiton, the world’s biggest miner, will spend almost $2 billion to expand its Australian iron ore business to keep pace with growing demand for the commodity from Chinese steelmakers.

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The Morning Report by Jason Fittler

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The Morning Report by Jason Fittler

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The Morning Report by Jason Fittler

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market report 21 Dec

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The Australian Stock Market Report by Jason Fittler

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If you would like to be a Distributor please go to http://www.marketlifechange.com/Market_America_Distributor.html
NBC 10 TV Work at Home Report on Patricia Feeney a Distributor for Market America.

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