CURRENCY TRADING INFOR

As India opens the door to trade and transactions, it is logical that domestic goods and services would move from a high cost economy to a low cost economy. Comparative advantage in costs would remain the mirror of the efficiency of the economy’s manufacturing and services sectors. Commodity futures trading service offered by the national online exchanges would be no exception to it when it comes to competing within themselves and competing with the global exchanges, as borders disintegrate with a country’s progress in its path towards globalisation. While competing within themselves, national exchanges follow established domestic benchmarks or establish their own benchmarks by way of their own innovative business practices, in all to add value to users of the platform. Upon opening up of the borders to foreign currency transactions, the participants would benchmark even the efficiency of the domestic benchmark exchanges with that of their global counterparts in terms of their ability to deliver value for money.

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LONDON (SHARECAST) – Reinsurance broker Benfield expects 2008’s trading result to be marginally below 2007 due to currency moves and a softening reinsurance market. In the broader reinsurance market the declining trend in pricing has continued, reflecting an abundance of reinsurance capital, the absence of recent major catastrophe losses in most territories and increasing competition among reinsurers, said the group. The annual reinsurance renewal for the Japanese market on 1 April has shown reductions in catastrophe rates for windstorm and earthquake of up to 10%. However, the group said an improvement in the trading environment in the important Florida catastrophe reinsurance market seems increasingly likely due to the proposed revisions to the legislation regarding the Florida Hurricane Catastrophe Fund.

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If the bond market has its own rock stars, they are probably the folks who work at Pimco.

Douglas Hodge, managing director for the Asia-Pacific region, demonstrated as much in Mumbai this week. His gig there whipped up a media frenzy; local reporters and cameramen crowded him everywhere he went. The buzz no doubt reflects Pacific Investment Management Co.’s status as the largest bond fund and investor in emerging-market debt.

The Newport Beach, Calif.-based firm’s Pimco Total Return Fund boasts $125 billion of assets � and an E.F. Hutton vibe. When Pimco talks, people listen. And the fund’s manager, Bill Gross, may be the closest thing the bond market has to a household name.

Hodge’s message, delivered at a conference organized by the Asian Development Bank in India’s business capital, is an encouraging one for Asia’s debt issuers: “We’re ready and able to supply the demand for Asian markets � we’re just waiting for quality investments.” That, of course, is exactly the problem.

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SINGAPORE (Thomson Financial) – World oil prices rose by over one dollar in Asian trading on Thursday after previous sharp falls overnight in response to a bigger-than-expected rise in U.S. crude reserves.

In morning trade, New York’s main contract, light sweet crude for June delivery surged $1.57 to $115.03 per barrel from $113.46 at the close of floor trading during U.S. hours on Wednesday.

At current levels, New York oil prices are down nearly five dollars from the record trading high of $119.93 struck on Monday.

The latest price surge may be short-lived if the dollar continues to recover against the major currencies and worries over energy demand flare up again, dealers said.

“I imagine anyone who is bullish is looking at this opportunity to buy but I expect it to be short-lived,” said Rowan Menzies, head of research at investment firm Commodity Warrants Australia.

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CHICAGO – May 1/08 – SNS — Following is the currency futures comment from Alaron Trading Corp.

Dollar Index (DXM8):

The DX opened higher at 73.17, dipped to a morning Lo of 73.13 and rose to a mid-day Hi at our secondary Resistance level of 73.525 in ‘thin’ Holiday trading, as European and Asian markets observe May Day. The ‘one & done’ theory on rate cuts has attracted institutional buyers as a greater than expected increase in personal spending and rally in equity prices support the move to a daily Hi of 73.585, before �drifting to a close of 73.47,up 75 tics. The s/t trend remains ‘positive’ w/ firm momentum indicators. Traders will key on the Payroll Report and look for direction �from ‘carry-traders’ coming back �to a stronger equity market. Will � carry-traders follow the lead of equity traders and take on more ‘risk’ or stand on the sidelines �until the release of the Payroll Report? We shall see.

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NEW YORK, May 2 – Fresh off its strongest month in nearly a year, the dollar looks set to extend its rally next week on signs the Federal Reserve is on hold after seven months of aggressive interest rate reductions that drove the U.S currency to record lows.

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SINGAPORE (Thomson Financial) – World oil prices rose by more than a dollar in Asian trading on Thursday after sharp falls overnight in response to a bigger-than-expected rise in U.S. crude reserves.

In afternoon trade, New York’s main contract, light sweet crude for June delivery, surged $1.07 to $114.53 per barrel from $113.46 at the close of floor trading during U.S. hours Wednesday.

The contract had earlier traded at an intra-day high of $115.23 before easing.

At current levels, New York oil prices have slid by more than $5 since striking an all-time high of $119.93 on Monday.

London’s Brent North Sea crude for June delivery rose $1.16 to $112.52.

The latest price surge may be short-lived if the dollar continues to recover against the major currencies and worries over energy demand flare up again, traders said.

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The highly anticipated stamp tax cut has improved sentiment on China’s stock market dramatically. However, it might only be a temporary lift because China’s stock markets, which were once isolated, are becoming linked more closely to the rest of world.

Today, we can see that the perfect storm that originated from the other side of the Pacific is expected to hit Hong Kong and eventually disperse the optimism felt in Shanghai.

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SINGAPORE (Thomson Financial) – World oil prices rose by more than a dollar in Asian trading Thursday after sharp falls overnight in response to a bigger-than-expected rise in U.S. crude reserves.

In morning trade, New York’s main contract, light sweet crude for June delivery surged $1.35 to $114.81 per barrel from $113.46 at the close of floor trading during U.S. hours Wednesday.

The contract had earlier traded at an intraday high of $115.23 before easing.

At current levels, New York oil prices have slid by more than $5 since striking an all-time high of $119.93 on Monday.

London’s Brent North Sea crude June delivery rose $1.36 to $112.72.

The latest price surge may be short-lived if the dollar continues to recover against the major currencies and worries over energy demand flare up again, traders said.

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TORONTO (Dow Jones)–The Canadian dollar ended flat Friday after a day of consolidating some recent volatile moves, which have nevertheless left the currency still bound within its recent well-established trading range. The U.S. dollar was trading at C$1.0196 at 3:40 p.m. EDT (1940 GMT), from C$1.0158 at 8:00 a.m. EDT (1200 GMT) and C$1.0195 late Thursday. Early activity Friday for the Canadian dollar was rather choppy and erratic, as the currency underwent several changes in direction based on global U.S. dollar movements following the release of the April U.S. non-farm payrolls report. The Canadian unit initially weakened to a weekly low in the C$1.0240 area as the U.S. dollar strengthened in response to the fact that U.S. job losses were somewhat less than expected with a decline of 20,000 positions.

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