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• Spain, Australia – politics
• Post not approved by Australian Tourism
• Hokkaido 6.4 earthquake – limted damage, no tsunami warning
• AUD/JPY climbing after consolidation
• Anti-US group behind Turkey embassy attack
• Two curious articles in the Japanese Press
• TPP talks pose difficulties for Abe
• Want an easy job on a lovely island?
• Greece Press: Concerns on rising Euro, and Securitizing Privatizations
• Hong Kong Press: Australian Dollar outlook

Spain, Australia – politics Posted: 02 Feb 2013 03:47 PM PST There isn’t a lot of FX-significant news in the weekend press so far. Some politics to tide us over: Spain’s Rajoy denies wrongdoing in kickbacks scandal: Spanish Prime Minister Mariano Rajoy on Saturday denied wrongdoing in a growing corruption scandal that threatens his credibility just as he makes headway against economic crisis. And in Australia: Teary Australia PM’s election campaign off to rocky start Australian Prime Minister Julia Gillard’s government was rocked by the surprise resignation of two of her most senior cabinet ministers on Saturday, just four days after she stunned voters by calling a national election in eight months’ time.

Post not approved by Australian Tourism Posted: 02 Feb 2013 03:47 PM PST A CROCODILE has been sighted on a flooded suburban Rockhampton street … A resident spotted the saltwater animal lurking around Stack Street, … only two blocks away from the flooded Lakes Creek Supermarket. If the spiders and snakes don’t get ya … Rockhampton flood crisis worsens as Fitzroy River nears peak Best of luck to all those dealing with the floods, and other natural disasters.

Hokkaido 6.4 earthquake – limted damage, no tsunami warning Posted: 02 Feb 2013 03:47 PM PST An earthquake with a preliminary magnitude of 6.4 jolted Japan’s northern island of Hokkaido on Saturday, the Japan Meteorological Agency said.

AUD/JPY climbing after consolidation Posted: 02 Feb 2013 01:12 PM PST The Australian dollar hasn’t been the best performer in the past four weeks but yen weakness has helped extend the trend toward 100. The periods of upward-trending consolidation followed by surges higher have been a characteristic of this pair since early August when it was trading below 80.00. The trend has gone a long ways without any meaningful reversal but at the moment, the proximity to 100 and the upward momentum are likely to continue.

Anti-US group behind Turkey embassy attack Posted: 02 Feb 2013 12:22 PM PST A group calling Turkey is a US ‘slave’ was behind the attack. The DHKP-C, virulently anti-American and listed as a terrorist organization by the United States and Turkey, claimed responsibility in a statement on the internet in which it said Turkish Prime Minister Tayyip Erdogan was a U.S. “puppet”.

Two curious articles in the Japanese Press Posted: 02 Feb 2013 06:12 AM PST Runaway yen spurs business growth That headline caused me to do a double-take. "Runaway Yen"? Running away from a beating maybe… Then the article itself caused me to do another double-take: Net profits announced so far by major Tokyo Stock Exchange-listed companies for the April-December period have jumped by nearly 40 percent year on year. The Yen wasn't weakening much in this period. Hmm. Curious article. Then there is this article: Panasonic scores surprise profits thanks to weakening yen, cost cuts The article doesn't even mention cost cuts or a weakening currency. Or Panasonic's profits. Curiouser and curioser.

TPP talks pose difficulties for Abe Posted: 02 Feb 2013 06:12 AM PST Freeing up trade, in any country, always seems to bring up objections from entrenched interests; in Japan its no different: INTERVIEW: Japan may not decide on US-led trade talks by July poll Many businesses want Tokyo to join the pact so that exporters can better compete with overseas rivals, but powerful agricultural lobbies oppose participation for fear of the influx of overseas farm products. Japan is already the world’s biggest net importer of agricultural products of over 6 trillion yen ($66 billion) a year as Tokyo has gradually opened the market to imports, including beef.

Want an easy job on a lovely island? Posted: 02 Feb 2013 06:12 AM PST You might get the occasional invasion force kicking your door in, but apart from that its money for jam: Abe says permanent basing of civil servants on Senkakus is ‘one option’ And Posting Public Officials on Senkakus One Option: Abe Actually, the pay’s in Yen … hardly seems worth it - OK, lets get serious: China, Japan scholars seek way out of Senkakus imbroglio Two U.S.-based scholars, one Japanese and the other Chinese, brought together experts — four from China, three from Japan — on Sunday to sound out views on the Japan-held Senkaku Islands, claimed as Diaoyu by Beijing.

Greece Press: Concerns on rising Euro, and Securitizing Privatizations Posted: 02 Feb 2013 06:12 AM PST Some weekend Greek newspaper articles for background reading: Rise of euro threatens to stem Greek export growth And Athens begins securitization of revenues from sell-offs The plan for the repayment of the country's debt through the securitization of future revenues from privatizations is now being implemented,

Hong Kong Press: Australian Dollar outlook Posted: 02 Feb 2013 06:12 AM PST This was in the morning paper in Hong Kong on Saturday, just posting it FWIW: Gas projects to pump up Aussie dollar Strategists are boosting forecasts for Australia’s dollar by the most of any Group of 10 currency, betting that US$190 billion of natural-gas projects will keep funds flowing into the nation as spending on mines slows. The article was on Bloomberg only a couple of days ago but a search now fails to turn it up. — ps. I just want to wish the best of luck to Pete, Jamie and Gerry.

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