Oil holds firm above $75, eyes tight global supply

(Reuters) - London Brent crude gained 41 cents to $75.59 a barrel by 0340 GMT, after ending $1.14 lower on Thursday. U.S. crude rose 43 cents to $75.38, after a loss of 93 cents the previous day, when it rallied more than $1 midsession to trade at a premium to Brent.




Traders saw an opportunity to buy after Thursday's dip, felt across commodity markets, which came as weak U.S. housing data revived worries about the economy of the world's biggest oil consumer and sparked a flight from risky assets.


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JGB futures hit six-week high tracking Treasuries

(Reuters) - September 10-year futures rose as much as 0.29 point to
132.37 , the highest since early June.




Traders said expectations remained for the Bank of Japan to
raise interest rates to a 12-year high of 0.75 percent from the
current 0.5 percent as early as next month, limiting gains in
JGBs.


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Dollar Advances Versus Yen After U.S. Core Producer Prices Climb in June

(Bloomberg) -- The dollar gained against the yen
after a government report showed a measure of prices paid to
U.S. producers rose more than analysts forecast.

Traders bought dollars as signs of quicker inflation
bolstered speculation the Federal Reserve will refrain from
lowering its benchmark lending rate this year.


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Daimler down on talk of Chrysler financing problems

(Reuters) - FRANKFURT, July 11 - DaimlerChrysler shares fell more than 2 percent on Wednesday on market talk of possible financing difficulties for the sale of U.S. carmaking arm Chrysler to Cerberus, traders said, but Daimler said it was not aware of any difficulties.



Traders cited talk that Cerberus [CBS.UL] had difficulties financing the purchase of Chrysler, a deal made in May this year and which is scheduled to close in the third quarter.


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JGBs hit 3-wk trough on weak overseas bond markets

(Reuters) - The BOJ will likely hold rates steady next week, but many in
the market expect a rate hike in August, with the global monetary
tightening trend lending support, traders said.




Traders said they were focusing on whether the BOJ board's
policy vote is unanimous or split.


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Argentina stocks, bonds up amid global upswing

(Reuters) - "A series of external factors combined to produce a very
good day for a variety of markets," said Marcelo Paccione of
ConsultCapital brokerage.




As returns on U.S. notes fall, investors tend to seek
riskier but higher-yielding emerging markets assets. Traders
also said that higher international oil prices boosted the
shares of energy-related companies in Buenos Aires.


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Currency Volatility Increases on Demand for Insurance Against Rally in Yen

(Bloomberg) -- Volatility on major currencies may
extend a rebound from an all-time low because investors are
buying protection against a rally in the yen.

Traders are holding record futures bets that Japan's
currency will weaken versus the dollar, which raises the risk
that they will exit so-called carry trades that profit from yen
declines, said David Woo at Barclays Capital Inc. Concern about
losses in the riskiest segment of the U.S. mortgage market may
make investors more risk-averse, sparking a reversal of carry
trades and bigger currency swings.


Read more at Bloomberg Currencies News

Australian Dollar Strengthens for Second Day on Appeal of Higher Yields

(Bloomberg) -- The Australian dollar rose for the
second day against the U.S. currency and yen as investors were
attracted to the nation's higher yielding assets.

The currency was headed for the fifth-straight quarterly
advance against the U.S. dollar and yen on Australia's 6.25
percent interest rate. Traders have taken advantage of the yield
over Japan's 0.5 percent benchmark by borrowing money there and
buying Australia's higher returning assets, in a strategy known
as the carry trade.


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German Power Exchange Says Electricity Trading Rose by 32 Percent in May

(Bloomberg) -- Electricity trading on Germany's power
exchange gained 32 percent in May from a month earlier, according
to European Energy Exchange AG, the market operator.

Traders bought and sold orders for 110.9 terawatt-hours of
electricity in the month, compared with 84.2 terawatt-hours in
April, EEX said in an e-mailed statement today, without
specifying a reason for the gain.


Read more at Bloomberg Energy News

Dollar Gains Versus Euro as Durables Excluding Transportation Match Gain

(Bloomberg) -- The dollar gained versus the euro
after a government report showed orders for durable goods
excluding transportation in the U.S. during April matched the
prior month's increase.

Traders reduced bets the Federal Reserve will cut borrowing
costs this year.


Read more at Bloomberg Currencies News