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Jul 9, 2012

How to spot trading opportunities in forex: By Zoe Fiddes, easy-forex

How to spot trading opportunities in forex


By Zoe Fiddes, easy-forex


When buying stocks and bonds, the goal is to profit from dividend and interest income and appreciation in value. In the forex market you buy or sell currencies which are traded in pairs, with the goal of trying to profit from appreciation or depreciation of one currency versus the other. Knowing when to buy or sell a currency may appear daunting for those unfamiliar with the forex market but there are some basic guidelines forex traders use to spot trading opportunities.


To spot trading opportunities, most traders rely on fundamental or technical analysis or a combination of the two. Fundamental analysis includes economic data, political developments, central bank monetary policy decisions and global events. Technical analysis focuses on forecasting based on market price action using a number of methods to interpret chart patterns and identify market direction.


Fundamental analysis usually begins with an economic calendar. Currency markets tend to make price moves in reaction to economic reports as they are the main barometer of a country’s economic health. Forex trading platforms like easy-forex provide economic calendars which include regularly scheduled economic releases from all the major developed economies and help to determine the importance of these economic reports and potential impact on the currency markets. Fundamental analysis will also look at issues of political stability and changes in central bank monetary policies which can significantly impact currency price moves.


For the past four years, price movement in most financial markets including stocks, bonds and currencies, have been greatly influenced by risk sentiment. When risk aversion rises, traders may liquidate positions in riskier assets and shift funds to less risky assets, seeking safe haven in currencies like the US dollar (USD), Swiss franc (CHF), Japanese yen (JPY) and gold. The downgrade of the US debt rating and the EU crisis helped propel gold to a record high last year.


Conversely, when risk aversion subsides, there is greater demand for riskier assets and higher yielding currencies like the Canadian, Australian and Kiwi dollars. One of the best starting points to determine whether to buy or sell a currency is to monitor economic and global news that contribute to risk sentiment.


A recent example of this type of dynamic is the euro currency selling at a 16 month low versus the USD in reaction to concern about the EU debt crisis. Economic and regional news that shows escalation in the EU debt crisis may spark additional selling pressure of the euro. Positive news that dampens fears about the crisis may encourage buying of the currency.


Technical analysis usually starts with identification of chart patterns. There are a multitude of tools that are used to interpret chart patterns. Currency trading platforms like easy-forex provide free chart packages that can help spot technical buy and sell opportunities based on market price action.


Forex markets often move in identifiable long-term trends. Despite what many would consider negative economic fundamentals in Japan that include weak growth, low interest rates and a rising budget deficit, the JPY has been in a strong uptrend against the USD rising to an 11 year high in 2011. JPY is supported by safe haven demand and risk aversion. Technical analysis can be used to spot a trading opportunity and help gauge if the trend for the USD/JPY will continue.


Zoe Fiddes

UK Branch Manager

easy-forex


www.easy-forex.com



Disclaimer: Please note that forex trading (OTC trading) involves substantial risk of loss, and may not be suitable for everyone. The information provided is based on data generated by third party investment research providers. easy-forex® does not assume any liability as to the accuracy of such information. This information shall be used for reference only and it is not binding on easy-forex. This is not an advertisement or a recommendation by easy-forex in engaging / binding you in any forex transactions.

GATA | THE GATA DISPATCH: Gold is manipulated just as LIBOR was and for same reason, Naylor-Leyland tells CNBC

Gold is manipulated just as LIBOR was and for same reason, Naylor-Leyland tells CNBC

11p ET Monday, July 9, 2012

Cheviot Asset Management Investment Director Ned Naylor-Leyland seemed to make his fellow panelists on CNBC Europe very uncomfortable today as he asserted that the gold and silver markets have been

manipulated just as the LIBOR interest rate was manipulated, and for the same reason -- to disguise trouble in the world financial system. Naylor-Leyland also said that market manipulation was also the purpose of the British gold sales of a decade ago. Looks like the gold and silver manipulation issue is becoming irresistible. Naylor-Leyland's interview is not quite five minutes long and it's posted at the CNBC video archive here:
http://video.cnbc.com/gallery/?video=3000100465&play=1

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

SEC | Listings of Company Delinquent Filings

https://service.govdelivery.com/banners/USSEC/sec_seal.jpg

Release No. Date Action
Third Quarter
34-67370 Jul. 9, 2012 Quill Industries, Inc. (n/k/a Eagle Worldwide Inc.), Rocky Point Pharmaceuticals, Inc.,Sentosa Financial Investments, Ltd., Western Futures Fund LP, Western Futures Fund II LP, Wichita River Oil Corp., Woods Cross Holding Corp., and WSC Group, Inc.
34-67367 Jul. 9, 2012 Fourthstage Technologies, Inc., Freesoftwareclub.com, FTM Media, Inc., Full Moon Universe, Inc., and Future Educational Systems, Inc.
34-67366 Jul. 9, 2012 True Product ID, Inc.
34-67365 Jul. 6, 2012 OptiSystems Solutions, Ltd., Paradise Tan, Inc. (n/k/a General Red International), and Power Smoothie Café Franchising, Inc.
34-67361 Jul. 6, 2012 Superior Bancorp
34-67360 Jul. 6, 2012 Aegis Assessments, Inc., APC Group, Inc., Aurelio Resource Corp., BioAuthorize Holdings, Inc., and Fonix Corporation
34-67350 Jul. 5, 2012 Qiao Xing Universal Resources, Inc., and Qiao Xing Mobile Communication Co., Ltd.

NFA | Emergency Enforcement Actions: NFA takes emergency enforcement action against Chicago futures firms Peregrine Financial Group, Inc. and Peregrine Asset Management, Inc.

DealBook | DealB%K Afternoon Edition: British Official Backs Central Bank's Role in Rate Scandal

If you have trouble reading this e-mail, please click here
NYTimes.com Home |Business Day| Video The New York Times
Monday, July 9, 2012
TOP STORY
Paul Tucker, the deputy governor of the Bank of England, testifying before a Parliamentary committee investigating Libor rates.
British Official Backs Central Bank's Role in Rate Scandal Under sharp questioning by political leaders on Monday, Paul Tucker, the deputy governor of the Bank of England, defended the central bank in light of the interest rate manipulation scandal that has engulfed Barclays. Mr. Tucker refuted allegations by Barclays' officials that the central bank was well aware of the manipulation of rates and did nothing to stop it.
For the latest updates, go to dealbook.nytimes.com »


DEALBOOK HIGHLIGHTS
Kayak and Others Hit the Road as I.P.O. Market Opens Up a Bit Three companies, including Kayak Software, announced price ranges for their forthcoming initial public offerings, signaling a potential thawing of what has been a largely chilled market for new stock sales.
Campbell Soup to Buy Bolthouse Farms for $1.55 Billion The acquisition of Bolthouse Farms will allow Campbell to expand in the multibillion-dollar market for packaged fresh foods and complement its V8 brand.
WellPoint to Acquire Amerigroup WellPoint, one of the country's largest health insurers, has agreed to buy Amerigroup in a bid to bolster its Medicaid business.
British Authorities Reopen Criminal Inquiry on Weavering Capital The Serious Fraud Office of Britain has reopened a criminal investigation into the collapse of Weavering Capital, one of London's oldest hedge funds.
LOOKING AHEAD
In the United States A House Financial Services subcommittee will conduct a hearing on Tuesday about the effect of the Dodd-Frank financial reform law on customers, credit and job creators. A House Oversight and Government Reform subcommittee will conduct a hearing about the auto bailouts. The House Ways and Means Committee will conduct a hearing about the tax ramifications of the Supreme Court's ruling on the health care law. A House Judiciary subcommittee will conduct a hearing about the effect of the Dodd-Frank financial reform law on financial services competition.
Overseas Marcus Agius, former chairman of Barclays, will testify before a Parliamentary committee investigating Libor rates.
For the latest updates, go to dealbook.nytimes.com »

DealBook Video
Business Day Live: In Ads, Small Acts of So-Called Rebellion Urging workers to rise up ... and go to lunch. | Campbell Soup Company expands its portfolio.

MarketWatch | Personal Finance Daily: Investing lessons that can make you money



By MarketWatch
Don’t miss these top stories:
The 24-hour torrent of news and information available to investors these days is a blessing and a curse. A company called News Patterns is hoping to discern patterns in all that data — patterns that can help alert investors to potential changes in a company’s share price before they happen.
Read Robert Powell’s story for more on that tool; plus read Ruth Mantell’s story tips on how to get your résumé to stand out from the pack, and read about investing lessons from the gurus, including John Bogle, Peter Lynch, and others, that ultimately may help you make money.
Andrea Coombes , Personal Finance editor

Mining the news for patterns investors can tap

Imagine if you could read thousands upon thousands of stories each and every day, connecting the dots to figure out what might happen next to this or that stock, or to the economy or in the presidential election. One company is aiming to do just that.
Mining the news for patterns investors can tap.

Make your résumé stand out from the crowd

Some job seekers are adding QR codes to their résumés, or creating videos to accompany their job applications. Is that a smart move? Ruth Mantell has tips for job seekers.
Make your résumé stand out from the crowd.

State college-saving plans give ETFs a try

Several states are adding exchange-traded funds as an investment option in their college-savings plans.
State college-saving plans give ETFs a try.

Investing lessons that can make you money

Michael Sincere shares the stock investing wisdom of John Bogle, Peter Lynch and other remarkable teachers, including his grandfather.
Investing lessons that can make you money.

No-load funds for no-nonsense investors

Almost a decade after selling his well-regarded No-Load Fund Investor newsletter, former editor Sheldon Jacobs is still a fan of mutual funds and exchange-traded funds, just not necessarily to buy and hold.
No-load funds for no-nonsense investors. 
 
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I can't hear you? an Absurd Suspension of Google Account +1

 Fernando Guzmán Cavero:  An absurd Suspension of My Google+ 1 account

For some reason I do not have clear yet, but could respond to an absurd mistake in  my Google+ 1 account (taken into account I have more than one G.A.), was suspended.

 The message I get is as follows: "After reviewing your profile, we determined that some of the content (for example text, images, or name) violates the Google+ User Content and Conduct Policy or Names Policy. ..."

Even though, everything, including my profile is correct and I had submitted it for reconsideration in several occasions,  with out having any answer from Google up to the writing of the present. I wonder?

- Is it that  there are some other  mysterious considerations coming from allowed spammers in the net? 

-Who has not met any of these delinquents in the net?  They are those that make their  income at the expense of others, and easily with their internet Guns, cause these can not be called Tools, could be in the middle. 

I appreciate any opinion how on how to recover my not so far from being stolen, Google+1 account?

Fernando Guzmán Cavero

CBS NEWS | Political Hotsheet Top Stories: Rangel rival concedes primary bid.

The CBS News Political Hotsheet newsletter
CBS POLITICAL HOTSHEET TOP STORIES    



   
Nearly two weeks after New York primary, Democratic state Senator Adriano Espaillat concedes race to Rep. Charlie Rangel, drops lawsuit
Read full story
Rangel rival concedes primary bid

GOP: Obama's tax cut idea just politics Both parties ready for the upcoming - and surely contentious - congressional debate

Crossroads groups announce $65 million ad buys Democrats, meanwhile, launched a complaint against the tax-exempt arm of Crossroads for violating political expenditure restrictions

Texas Gov. Perry says no to health care expansion The governor is the latest governor to opt-out of major aspects of the health care law

Obama sets stage for new tax cut debate President proposes extension of Bush-era tax cuts only for those making $250k or less, setting the stage for contentious debate with GOP

Stocks and Markets in the News | Wall Street at Close: U.S. stocks extend loss to third session, MarketWatch

SAN FRANCISCO (MarketWatch) -- U.S. stocks closed lower Monday, extending a slide in blue-chips to the third day, the first streak of that kind since early June, as Spanish debt concerns mounted and investors traded cautiously ahead of earnings-season kickoff. The Dow Jones Industrial Average DJIA -0.28% fell 36.18 points, or 0.3%, to 12,736.29. The S&P 500 SPX -0.16% fell 2.22 points, or 0.2%, to 1,352.46, also down for a third session. The Nasdaq Composite COMP -0.19% lost 5.56 points, or 0.2%, to 2,931.77.

 By Laura Mandaro

BIV Today's News: Feds propose new regulations for banking complaints


Ports and Shipping

Port truck with containers

New port initiative targets truck efficiency

In the fierce competition for West Coast-bound cargoes, Port Metro Vancouver (PMV) has launched a plan to up its competitive edge by increasing trucking efficiency.

Economy and Finance

   

Feds propose new regulations for banking complaints

The federal government has proposed new regulations to help consumers resolve banking disputes efficiently and transparently.
 

B.C. ranks second in Canada for job gains

B.C. ranks behind only Alberta in job growth since June 2011, according to new Statistics Canada figures.

Film and Entertainment

 

Chong to announce major film production funding initiative

Community, Sport and Cultural Development Minister Ida Chong is set to make what the government is calling an "important announcement" related to funding B.C.'s film, TV and digital media industry later today.

Politics and Policy

   

Victoria gives another $1m to Downtown Eastside shelter

The B.C. government announced Friday that it was providing an additional $1 million so the First United Shelter can operate its Downtown Eastside facilities for 27 women and 95 men for an additional year.

Real Estate and Development

 

Voting begins for affordable housing competition

As it searches for solutions to Vancouver's notoriously pricey real estate market, the City of Vancouver is asking the public to weigh in on new affordable housing schemes.

Money Show Investors Daily Alert: Bizarro Wall Street Logic Strikes Again


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Jim Jubak on MoneyShow.com

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Portfolio Strategies

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Another Own Goal for Europe, Igor Greenwald
Europeans Start Over in Middle East, Tom Arnold and Sean Cronin

Today's Featured Videos & Exclusive Interviews
Is the Commodity Boom Over?, Nicholas Vardy

Money Show Traders Daily Alert: The Ultimate Candlestick Technique

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Stocks and Markets in the News | European Markets: Crisis worries weigh down European stocks European stock markets end lower, with resource stocks among others weighing on equity indexes, as investors have their antennae up for a European Union finance ministers meeting and keep an eye on rising peripheral bond yields., MarketWatch

Crisis worries weigh down European stocks European stock markets end lower, with resource stocks among others weighing on equity indexes, as investors have their antennae up for a European Union finance ministers meeting and keep an eye on rising peripheral bond yields.

ADVFN III World Daily Markets Bulletin


ADVFN III World Daily Markets Bulletin  
Daily world financial news

US Market Reports
Stocks May Move Moderately Lower In Early Trading
7/9/2012 8:50 AM ET
Stocks are likely to move to the downside in early trading on Monday amid continued concerns about the global economic outlook. The major index futures are currently pointing to a moderately lower open for the markets, with the Dow futures down by 33 points.
Trading on Monday may continue to be negatively impacted by last Friday's disappointing U.S. jobs report, which contributed to considerable weakness on Wall Street.
The report showed much weaker than expected job growth in the month of June, although the economy still added jobs for the twenty-first consecutive month.
Developments in Europe are also likely to remain in focus, as euro zone finance ministers are scheduled to hold another meeting in Brussels later in the day.
Bailout financing to Spanish banks, terms of a second bailout for Greece and the feasibility of creating a common regulator for European banks are among the issues likely to be discussed at the meeting.
Ahead of the meeting, Spanish ten-year bond yields climbed above the key 7 percent level, adding to concerns about the high cost of borrowing.
Nonetheless, trading activity may be somewhat subdued ahead of the release of aluminum giant Alcoa's second quarter results after the close of trading. The release of results from Alcoa is seen as the unofficial start of the earnings season.
A relatively quiet day on the U.S. economic front may also keep some traders on the sidelines, although the Federal Reserve is scheduled to release its report on consumer credit at 3 pm ET. Economists expect the report to show that consumer credit rose by $8.5 billion in May.
With the disappointing employment data adding to recent concerns about the economic outlook, stocks saw significant weakness during trading on Friday. The markets extended Thursday's downward move after reaching nearly two-month highs on Tuesday.
The major averages regained some ground in late-day trading but still closed firmly in negative territory. The Dow slid 124.20 points or 1 percent to 12,772.47, the Nasdaq tumbled 38.79 points or 1.3 percent to 2,937.33 and the S&P 500 dropped 12.90 points or 0.9 percent to 1,354.68.
For the holiday-interrupted week, the major averages turned in a mixed performance. While the Nasdaq edged up by 0.1 percent, the Dow and the S&P 500 fell by 0.8 percent and 0.5 percent, respectively.
In overseas trading, stock markets across the Asia-Pacific region saw significant weakness during trading on Monday. Japan's Nikkei 225 Index fell by 1.4 percent, while Hong Kong's Hang Seng Index tumbled by 1.9 percent.

7/9/2012 8:50 AM ET
Meanwhile, the major European markets have turned mixed over the course of the trading day. While the German DAX Index has crept up by 0.1 percent, the French CAC 40 Index is down by 0.1 percent and the U.K.'s FTSE 100 Index is down by 0.3 percent.
In commodities trading, Crude oil futures are edging up $0.41 to $84.88 a barrel after slipping $0.51 or 0.6 percent to $84.45 a barrel in the week ended July 6th. gold futures, which fell $25.30 or 1.6 percent to $1,578.90 an ounce last week, are climbing $6.40 to $1,585.30 an ounce.
On the currency front, the U.S. dollar edged down 0.2 percent against the Japanese yen last week to 79.66 yen, while the greenback jumped 3 percent against the euro to $1.229. The dollar is currently trading at 79.53 yen and is valued at $1.231 versus the euro.
Canadian Market Report
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CADUSDOilGoldAllbanc
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TSX Poised For Lower Open - Canadian Commentary
7/9/2012 8:54 AM ET
Canadian stocks may extend losses at open Monday as traders continued to fret over the recent batch of soft economic data from around the globe, which have rekindled concerns over economic recovery. While most Asian markets ended lower overnight, European shares were lingering in the red amid skepticism over the outcome of the euro zone finance ministers meeting, due later in the day.
Furthermore, Spanish bond yields moved past the seven percent mark, adding worries over the euro debt situation.
U.S. stock futures were pointing to a lower open.
On Friday, the S&P/TSX Composite Index extended losses for a second session, dipping 157.38 points or 1.33 percent to 11,659.65.
The price of Crude oil was trading firm around $85 Monday morning after soft inflation data out of China raised speculation of further monetary easing measures in the commodity hungry nation. China's inflation fell to a 29-month low in June, with the consumer prices rising 2.2 percent year-over-year, down from 3 percent reported in May. Crude for August gained $0.38 to $84.83 a barrel.
The price of gold was lingering below the $1,600-mark Monday morning as the U.S. dollar was steady ahead of this week's economic data. gold for August edged up $4.70 to $1,583.60 an ounce.
In corporate news from Canada, transportation equipment maker Bombardier Aerospace (BBD_A.TO, BBD_B.TO) announced that it bagged orders for five CS100 and 10 CS300 jetliners, valued at $1.02 billion.
Thomson Reuters Corp. (TRI.TO) said it would acquire all the shares of electronic foreign exchange platform FX Alliance Inc. , or FXall, for $22 per share in cash.
Supply chain management software provider Tecsys Inc. (TCS.TO) reported lower fourth quarter net profit of C$473,000 or C$0.04 per share compared to C$491,000 or C$0.04 per share in the prior year quarter.
Pharmaceutical company Medifocus Inc. (MFS.V) announced a non-brokered private placement of up to 26.66 million units at $0.15 per unit for gross proceeds of up to $4 million.
In economic news from the euro zone, Germany's exports rose more than expected in May, the latest figures from the Federal Statistical Office showed. Exports grew 3.9 percent month-on-month in May, following a 1.7 percent decline in April. Economists expected only a 0.2 percent rise in shipments.
European Market Report
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European Markets In Negative Territory
7/9/2012 7:49 AM ET
The European markets are modest to moderately lower on Monday, ahead of a meeting of finance ministers from the euro-area in Brussels. The Eurogroup meeting is likely to discuss bailout financing to Spanish banks, terms of the second bailout plan for Greece and feasibility of creating a common regulator for European banks.
Earlier in the day, Germany raised debt through the issuance of 6-month bills at negative yields, reflecting the inflow of money into core economies and away from the peripheral economies.
The euro Stoxx 50 index of eurozone bluechip stocks is losing 0.53 percent, while the Stoxx Europe 50 index, which includes some major U.K. companies, is falling 0.43 percent.
The German DAX is losing 0.25 percent and the French CAC 40 is dropping 0.49 percent. The UK's FTSE 100 and Switzerland's SMI are falling 0.48 percent and 0.30 percent, respectively.
In Frankfurt, Metro is declining 6.5 percent after a report quoting CEO Olaf Koch said controlled spending would have a significant impact on business.
Deutsche Bank is losing 1.5 percent. Commerzbank is falling 0.3 percent.
Basf, Merck, Adidas and Infineon Technologies are notably lower.
BMW and Volkswagen are moderately lower while Daimler is marginally up.
Prosienbat.1 is declining 3.2 percent. Citigroup cut the stock to "Neutral" from "Buy."
Nomura raised European telecom sector to "Neutral" from "Underweight." Deutsche Telekom is advancing 0.8 percent.
Gea is up 1.2 percent. Barclays raised the stock to "Overweight" from "Underweight."
In Paris, LVMH is leading the losers by falling 1.6 percent. Publicis Groupe is sliding 1.5 percent. Carrefour is declining 1.4 percent.
Societe Generale, Credit Agricole and BNP Paribas are in negative territory.
EADS is climbing 1.9 percent amid the Farnborough Air Show. Vivendi is rising 1.6 percent.
Peugeot is gaining 1.5 percent while Renault is flat.
In London, Burberry Group is declining nearly 3 percent while Marks & Spencer is advancing 1.5 percent.
Michael Page is losing 4.4 percent after reporting a lower profit in the second quarter. The company sees a challenging third quarter.
JJB Sports is plunging over 23 percent. The sports retailer said its 22- week like-for-like sales decreased 8 percent.
Royal Bank of Scotland is gaining 2.2 percent. Barclays is losing 0.6 percent while Lloyds is gaining 0.1 percent. Reports indicated that Lloyds might sell around 1 billion pounds in toxic assets.
Vestas is declining 7.7 percent in Copenhagen on speculation that the company may sell shares.

7/9/2012 7:49 AM ET
In economic news, Germany's external trade rebounded markedly in May with exports growing significantly faster than forecast. The Federal Statistical Office (Destatis) said exports grew 3.9 percent month-on-month in May, reversing a 1.7 percent decline in April.
Business confidence in France weakened for the third consecutive month in June, data released by Bank of France revealed. The business confidence index for the industrial sector dropped to 91 in June from 92 in May. Economists expected the index to remain unchanged in June.
Data released by think tank Sentix showed that investor sentiment in Eurozone fell to the lowest level in three years in July.
In the U.S., futures point to a lower open on Wall Street. In the previous session, the major averages regained some ground in late-day trading but still closed firmly in negative territory. The Dow slid 1 percent, the Nasdaq tumbled 1.3 percent and the S&P 500 dropped 0.9 percent.
Across Asia/Pacific, markets ended firmly in negative territory as weak U.S. jobs data, a Sharp fall in Japan's core machine orders and worries about a slowing Chinese economy increased growth fears. Australia's All Ordinaries lost 0.9 percent and China's Shanghai Composite Index retreated 2.4 percent. Hong Kong's Hang Seng and Japan's Nikkei 225 fell 1.9 percent and 1.4 percent, respectively.
In the commodity space, Crude for August delivery is adding $0.35 to $84.80 per barrel and August gold is rising $5.5 to $1584.4 a troy ounce.
Asia Market Reports
Asian Markets Trade Weak On Growth Worries
7/8/2012 11:13 PM ET
Asian stock markets are mostly trading notably lower on Monday with investors tracking cues from Wall Street where stock prices tumbled on Friday amid worries about growth following a disappointing U.S. employment report. Some weak economic reports from the Asian region are also weighing on sentiment to an extent.
In the Australian market, energy and mining stocks are mostly down with Sharp losses. Financial and industrial stocks are also trading weak, while consumer staples, healthcare and information technology stocks are trading mixed.
The benchmark S&P/ASX 200 index, which declined to 4,111, is currently trading at 4,128, down 29.8 points or 0.7 percent from its previous close. The broader All Ordinaries index is down 28.4 points or 0.7 percent at 4,170.6, off the day's low of 4,154.
Among top miners, BHP Billiton is down 1.5 percent, Rio Tito is losing about 1.8 percent and Newcrest Mining is down with a loss of 2.2 percent. Fortescue Metals, which has staged a smart recovery, is trading in positive territory with a small gain.
In the energy sector, Woodside Petroleum is trading 1.7 percent down, Oil Search is down with a loss of 1.9 percent, Origin Energy is trading lower by about 1 percent and Caltex Australia is down 0.7 percent, while Santos is trading flat.
Among bank stocks, ANZ Bank, Commonwealth Bank of Australia, National Australia Bank and Westpac are down 0.6 to 1 percent. Bendigo & Adelaide Bank and Bank of Queensland are down 0.6 percent and 1.6 percent, respectively.
Shares of mineral sands miner Iluka Resources are down more than 20 percent following the company downgrading its 2012 sales forecast due to deteriorating economic conditions.
The company said there had been a marked deterioration in major regional economies, and the economic outlook has become more pessimistic, impacting the confidence levels of mineral sands customers. Iluka now expects to sell between 510,000 and 720,000 tonnes of zircon, rutile and synthetic rutile in calendar 2012, which would be down from the 1.04 million tonnes in 2011.
Bluescope Steel, Lynas Corporation, Perseus Mining and Oz Minerals are down 3 to 4 percent.
Regis Resources, Paladin Energy, Arrium, David Jones, Boart Longyear, Downer EDI and Incitec Pivot are all trading lower by 2 to 3 percent. Atlas Iron, James Hardie Industries, Investa Office Fund and Beach Energy are also down with Sharp losses.
Leighton Holdings has sold its Thiess Waste Management to Remondis AG & Co KG for A$218 million. The group announced that it expects to complete the sale by the end of the current financial year. The Leighton Holdings stock is trading 0.8 percent down.

7/8/2012 11:13 PM ET
The Japanese stock market plunged in early trades with investors pressing heavy sales, hurt by dismal Japanese factory data and a weak lead from Wall Street.
The benchmark Nikkei 225 index, which declined to 8,919.5 in early trades, was down 75.8 points or 0.8 percent at 8,944.9 at the end of the morning session.
Tokyo Electron shares tumbled by over 5 percent. Advantest Corp lost nearly 5 percent and Okuma Corp drifted down by 4 percent.
Dainippon Screen Manufacturing, Fuji Electric, Ricoh, Kawasaki Heavy Industries and Komatsu lost more than 3 percent.
Konica Minolta Holdings, Hitachi Construction Machinery, Matsui Securities, NEC Corp, Tosoh Corp, Kobe Steel, Inpex Corp, Mitsumi Electric and Fanuc Corp also posted Sharp losses. Fast Retailing shares tumbled following the company cutting its earnings forecast.
Automobile stocks Honda Motor, Suzuki Motor, Mazda Motor and Nissan Motor declined by 1.5 to 2.5 percent.
In the banking space, Shinsei Bank, Mizuho Financial Group and Mitsubishi UFJ Financial Group declined sharply.
Softbank Corp shares gained nearly 2 percent. Casio Computer, West Japan Railway, Astellas Pharma, Chugai Pharmaceutical Co, Osaka Gas, Sumitomo Osaka Cement and Dainippon Sumitomo Pharma also moved higher.
According to data released by the Cabinet Office, core Machine orders in Japan plummeted a seasonally adjusted 14.8 percent on month in May, the Cabinet Office said on Monday, coming in at 671.9 billion yen. That was well shy of forecasts for a contraction of 2.6 percent on month following the 5.7 percent increase in April.
On a yearly basis, core machine orders added 1.0 percent - also sharply below estimates for a rise of 7.0 percent following the 6.6 percent increase in the previous month.
The Ministry of Finance said Japan saw a current account surplus of 215.1 billion yen in May, down 62.6 percent on year. That was far below forecasts for a surplus of 493.1 billion yen after showing a 333.8 billion yen surplus in April. Analysts also were looking for a decline of 13.6 percent on year following the 21.2 percent contraction in the previous month.
The trade balance showed a deficit of 848.2 billion yen, up an annual 10.0 percent, after showing a shortfall of 463.9 billion yen a month earlier. Exports were up 11.3 percent on year, while imports climbed an annual 11.1 percent in May.
Meanwhile, overall bank lending in Japan was up 0.8 percent on year in June, the Bank of Japan said, standing at 395.188 trillion yen. That follows the 0.4 percent increase in May.
     
7/8/2012 11:13 PM ET
In the currency market, the U.S. dollar traded in the mid-79 yen range in early deals in Tokyo. The yen is currently trading at 79.53 to the dollar.
Among other markets in the Asia-Pacific region, Shanghai, Hong Kong, Indonesia, Singapore, South Korea and Taiwan are trading notably lower, while Malaysia and New Zealand are down marginally. Markets across the region ended weak on Friday.
On Wall Street, stocks ended notably lower on Friday amid concerns about the slow pace of growth in employment. The major averages regained some ground in late-day trading but still closed firmly in negative territory.
The Dow slid 124.2 points or 1 percent to 12,772.5, the Nasdaq tumbled 38.8 points or 1.3 percent to 2,937.3 and the S&P 500 dropped 12.9 points or 0.9 percent to 1,354.7.
Major European markets too ended weak on Friday. The U.K.'s FTSE 100 index ended down 0.5 percent, while the French CAC 40 Index and the German DAX index both tumbled by 1.9 percent.
U.S. Crude oil futures ended sharply lower on Friday, after some soft jobs data from the U.S. that was well short of analyst expectations fueled demand growth concerns. A strong dollar too contributed significantly to oil's decline.
Crude for August delivery shed $2.77 or 3.2 percent to close at $84.45 a barrel on the New York Mercantile Exchange.
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Dollar Mixed Against Majors
7/8/2012 11:38 PM ET
The U.S. dollar showed mixed trading against other major currencies in early Asian deals on Monday as investors remained cautious after weak U.S. employment data renewed concerns over the health of the world's largest economy.
While the dollar recovered its recent losses against the yen, it pulled back against the euro, franc and the Canadian dollar. But the dollar showed choppy trading against the pound, Aussie and New Zealand dollar.
The Labor Department's report on Friday showed that U.S. employment continued to increase in June, although the pace of job growth fell well short of estimates. Non-farm payroll employment rose by 80,000 jobs in June versus forecasts for an increase of about 100,000 jobs. The unemployment rate was unchanged at 8.2 percent, in line with estimates.
Extending its Friday's decline, the US dollar touched a 6-day low of 79.44 against the yen by 7:45 pm ET. But the pair rebounded thereafter and is now trading near last week's close of 79.62.
Chinese consumer price inflation data released in the session failed to influence currencies.
Data from the National Bureau of Statistics showed that the CPI rose 2.2 percent on year in June, slowing for the fifth consecutive month. The headline figure was below forecasts for 2.3 percent after coming in at 3.0 percent in May.
Meanwhile, producer prices contracted 2.1 percent on year, also missing expectations for a decline of -2.0 percent after falling an annual 1.4 percent in the previous month.
The dollar that rose to fresh multi-year highs of 0.9802 against the Swiss franc and 1.2257 against the euro at 6:35 pm ET eased thereafter. The dollar is presently worth 1.2290 per euro and 0.9770 against the franc.
Similarly, the U.S. dollar pulled back from a 10-day high of 1.0213 against the Canadian dollar and the pair is currently worth 1.0190.
But the dollar showed choppy trading against the pound, Aussie and New Zealand dollar. At present, the dollar is trading at 1.5492 against the pound, 1.0196 against the Australian currency and 0.7970 against the kiwi dollar.
Looking ahead, Japan's Eco Watchers survey for June is due at 1 am ET.
In the European session, Swiss unemployment rate for June, German trade data for May and the Eurozone sentix investor confidence index for July are slated for release.
Investors also focus on the European Union finance ministers meeting in Brussels later in the day, where the leaders are expected to discuss measures agreed last month to tackle the region's debt crisis.
Also, European Central Bank President Mario Draghi is scheduled to speak in the European parliament after policy makers reduced the main refinancing rate to a record low 0.75 percent on July 5.

7/8/2012 11:38 PM ET
Draghi said after last week's decision that the rate cut may have only a "muted" economic impact and growth in the euro area "continues to remain weak with heightened uncertainty."
The U.S. consumer credit for May is slated for release at 3 pm ET.