Article by Ron Daulton
As for the massive results that caused by the devastating quake that hit the nation on March 11, the Japanese economy will increase its iron ore imports from India as the rebuilding process.
Moreover, the increases in exports of items ranging from raw material to pharmaceuticals is part of an Indian government strategy for boosting trade to .1 trillion by 2014, and the shipments volume will be at least 1.3 billion metric tons from 574 million last year. Higher iron ore shipments will allow the government to increase export taxes.
Meanwhile, the Japanese economy is trying to introduce more of stimulus to help the economic recovery to stand once again during the first nine months of the year, where the Bank of Japan kept the rates unchanged steady near zero between “0.0% to 0.10%”, while the Governor indicated that the Bank is ready to easy monetary policy further if needed.
The machinery order rebounded even after the plants have shut along with power shortages and a shortfall in supply of parts.
The government is asking companies and households to restrict power use by 15% this summer, less than its earlier prediction that savings of at least 20% would be necessary. Tokyo Electric Power Co. said on May 13 it plans to raise its power capacity to 56.2 million kilowatts by the end of August, 94% of last year.
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Japan’s economy probably contracted at an annual 2% pace in the three months ended March 31 as expected, which would be the first time the economy shrank for two straight quarters since the global financial crisis.
The central bank will “carefully monitor” whether sustained gains in oil gains will spur inflation expectations, Governor Masaaki Shirakawa said on April 28. Further, the March 11 earthquake may only have a small effect on Japan’s prices.Today, Japan’s tertiary industry index monthly reading dropped by 6.0% in March, compared with a previous reading of 0.8% in June, which was revised to 1.0%, while the actual reading came lower than analysts’ expectations that referred to -5.8%.
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A strong U.S. dollar is contributing the recent slide that gold is having. The precious yellow metal is .10 lower to ,474.80 in early trading in New York. Since making a new record high of ,576.70 on May 2nd, gold has been under tremendous pressure as both the dollar is rallying and global economic recovery conditions are losing momentum. Earlier today, gold broke below key dynamic support and could see further downside.
On Monday, filings with the U.S. financial regulators showed that George Soros’s hedge fund, Soros Fund Management, liquidated almost his entire 0 million stake in the first quarter of the year. John Paulson’s fund, Paulson & Co, kept their 31.5 million shares in SPDR Gold Trust and they also increased holdings of several mining companies.
The Australian Dollar has also declined from its May 2nd record high of 1.1010 to the U.S. currency. This month, the commodity currency has weakened 500 points or 4.5% to 1.0508.
Weather Info, Awashima 1669 kHz, 50 W Distance: 950 km
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