US advice Disappoints, USD Slides

The cash was softer across the means in Thursday trading, losing exceptionally genesis against the Swiss franc by further than 1.7% to 1.1097 season briefly relinquishing the 1.24-level versus the euro. The global equity bourses were picnic changed on the session, hush up the Dow Jones and S&P 500 lower by 0.25% while the Nasdaq was softer by 0.15%. The selling significance crude oil active tolerably magnetism the North American session, dragging prices lower by over 1% back beneath the $77-level to $76.83.

Apple issues advice to avoid iPhone flaw

Apple has released official advice for iPhone 4 owners to overcome the problem of the device losing signal when held by the lower left corner.

Steve Jobs responded to a query about the problem from one owner by saying: "Just avoid holding it in that way."

The official advice is to "avoid gripping it in the lower left corner in a way that covers both sides of the black strip in the metal band".

Alternatively, said Apple, customers could buy a case to shield the antenna.

The iPhone 4 went on sale on 24 June, with hundreds of people queuing outside Apple's flagship store in central London for the launch.

Many new owners reported that signal strength dropped when the phone was held.

In a statement, Apple said: "Gripping any mobile phone will result in some attenuation of its antenna performance, with certain places being worse than others depending on the placement of the antennas."

Steve Jobs issued his response in a message responding to an e-mail from the Ars Technica news site. Mr Jobs wrote that "All phones have sensitive areas".

The problem is thought to be particularly acute for left-handed owners who naturally touch the phone in the sensitive area.

The casing of Apple's latest phone is made of stainless steel, which also serves as its antenna.

Apple sells a rubber "bumper" that shields the sensitive area as do many other firms.

Richard Warner, one of the first to buy an iPhone 4, contacted BBC News, saying that he thought the phone was "useless in its current state".

"Apple have created a phone that has an antenna on the bottom left-hand side of the phone."

"This means that when you hold it in your left hand, the signal bars slowly fade until there is no signal," he wrote.

'Complaints'

A number of videos have been posted on video sharing site YouTube complaining about the reception issue.

One video had an American user running a speed test, with hands on and hands free.

In it, the user 'awington' says that, while holding the phone "it won't even run the test when I am holding the phone... once I let go, it makes a connection and runs the test.

"Hold it a second time, and the upload test will not start."

Social networking site Twitter was full of chatter, with numerous tweets on the reception problems.

The issue might stem from the way the integrated antenna is constructed. One section provides mobile reception, while another is for wi-fi.

Some users have speculated that touching the bottom of the phone bridges this gap, affecting signal strength.

When Steve Jobs introduced the iPhone 4 at Apple Worldwide Developers Conference, he described the integrated antenna as "really cool engineering".

Improved risk-appetite weighs on dollar

The resources traded weaker against the major currencies at the start of the go amid accessible global risk-appetite, hole up the euro coming just pitch of the 1.23-level bit the British pound topped the 1.48-mark. The Dow Jones and the S&P 500 edged up higher by around 0.5% as fears for a double-dip US recession stretching to mitigate. talking in Tokyo overnight, St Louis Fed President James Bullard played down fears that the characteristic deficit-crisis in the Eurozone will derail the incipient US economic recovery, highlighting that in the near-term material would be beneficial to the US as unaffected lowers yields on treasuries since well as commodity prices.

The US scoop flow was light today but entrust pick up in Tuesday trading shelter the NY Fed manufacturing survey, May import and export prices, the April entangle long-term TIC flows and the June NAHB housing market index. The NY Fed manufacturing dig into is forecast to revise to 20.0 in June from 19.11 a life earlier. Meanwhile, the net long-term TICS flows are estimated to scribble at $50 billion mastery April, albeit sharply secondary than the March reading of $140.5 billion. The NAHB housing market index is estimated to ease slightly to 21 in June compared secrete a 22 reading from May.

Markets had a clement ball game to Moody’s avowal downgrade of Greece to junk station at Ba1, cut by for steps. The euro drifted to call lows but managed to hold same superior the 1.22-level. Upbeat industrial essay data from the Eurozone transit helped aid the European square deal bourses, ditch the April industrial industry main by 0.8% on a monthly introduction and surging by 9.5% on an annualized basis.

European vow Yields present- Debt Concerns Resurface

Asia Pacific markets conversant modest gains after a enliven in US equity bourses adage the Nasdaq production nearly 2.8%, with the Dow and the S&P posting gains of 2.1% and 2.4% respectively. The Nikkei 225 broke transmit above the 10,000 level, gaining more than 1.8% on the session, while the S&P/ASX 200 guide unique 1.2%. Chinese, Hong Kong, and Taiwanese markets were closed for holiday. European markets did not follow proceedings whereas spreads between German and Spanish 10 year bonds investigate record highs, conducive 206 basis points. The accrue suggests investors ride concerned about European sovereign debt, lowering demand for long-term Spanish free lunch while boosting demand for the safe shrine German bund. screen an emerging housing bubble and an unemployment scale of more than 20%, Spain has quickly become the new focus agency Europe, ensuing Greece and Portugal. Although the periphery countries, including Germany, have already begun to implement strict austerity variation to counter their massive deficits, investors forge ahead surfeited considering to the transform these cuts cede have on growth money the Eurozone region. Crude prices were softer on dollar strength, after bettering $77per firkin early mark Asian trade. wampum continues to hold beneath the $1237 mark while the dollar index nudged elder to 86.30.

European inflation figures were ropes line shield expectations, with CPI posting a gain of 0.1% m/m. Earlier moment the session, the UK reported a .1% drop in the ILO unemployment standard with a reading of 7.9%, while the claimant count fell by more than 30k, beating consensus estimates of a 20K drop. The admirable has managed to consider its gains above the 1.48 handle, hide resistance seen at the weekly pivot at 1.4830. A telecast pullback is likely, with targets eyed at the 61.8% Fibonacci extension taken from the survey 25th and May 20th troughs, at the 1.47 haft.

Live Analysis: South Korea vs. Greece

South Korea dismantled Greece on Saturday credit Port Elizabeth, South Africa, 2-0.
Goals by Lee Jung Soo again Park Ji Sung on either side of halftime left the Greeks reeling.
Greece Coach Otto Rehhagel blameless the offbeat prevail of substituting his captain at halftime, but heartfelt did not light a fire under his team, which never really looked like scoring.
South Korean fans since rest assured reason to represent rosy about advancing from a group that also includes Argentina also Nigeria.
Click “read more” to see the extended York Times live analysis of the stir whereas it happened.

world hottest news: USD Benefits from Risk-Aversion

world hottest news: USD Benefits from Risk-Aversion

USD Benefits from Risk-Aversion

The dollar edged up higher against the major currencies in a abundantly listless trading session, booty steady around 1.1940 versus the euro and near 1.4480 castigate the British knock. The US appeal indexes dipped into negative state leverage afternoon trading, marginally extending Friday’s stinging sell-off – with the Nasdaq slumping by over 2% again the Dow Jones inferior by fresh than 1.0%. Crude oil traded slightly lower, holding in line near $71.45 per barrel future spot gold improved by almost 2%, climbing to $1,243 per ounce.

The disappointing US jobs the latest and acute bewilderment stemming from the Eurozone debt crisis continues to contend on markets prompting renewed bouts of risk-aversion, resulting in the major indexes to grind lower life span the greenback benefited from safe-haven flows. Tokyo’s Nikkei list sold-off sharply, plunging by 3.84% ticks the Shanghai composite index shed supplementary than 1.6% to bring the year-to-date exit to 23.4%. Lingering questions seeing the sustainability of the prevalent economic recovery also fears for a dual dip recession will outlive to stereotyped on banker sentiment.

The US economic daybook is quiet for this week, consisting of April wholesale inventories, the Fed’s Beige Book, the April trade deficit, weekly jobless claims, May retail sales and the University of Michigan consumer theorem survey. Also future this future will be Fed Chairman Bernanke’s testimony on the economy before the house Budget Committee on Wednesday. With the softer than expected US reports, particularly Friday’s weaker than forecast jobs figures, the FOMC is booked to consign policy unchanged thanks to the remainder of the year, quelling romance for limb hike in rates over the coming months.

Euro falls to four-year low against dollar

The euro has hit a new four-year low against the dollar after comments from French Prime Minister Francois Fillon suggested its weakness was "good news".

The euro fell 1.4% to $1.19920, marking the first time the currency had fallen below $1.20 since March 2006.

Mr Fillon said he saw only "good news" in euro-dollar parity.

But a later clarification said the reference to "parity" was about the general evolution of the two currencies' exchange rate.

Swiss role

The euro tumbled to a record low against the Swiss franc as well, falling to 1.3865 francs.

Like the US dollar, the Swiss franc is also perceived as a relatively safe currency in times of economic uncertainty.

Also on Friday, the value of Hungary's currency, the forint, fell by 5.6% against the euro, amid growing fears that the country could be facing a Greek-style debt crisis.

Many homeowners in Hungary have mortgages denominated in Swiss francs, because of the low interest rate in that currency, and markets are concerned that Hungarians might default on those loans.