German-based Ortovox, a leading manufacturer of merino clothing for mountain climbers, has inked a deal with the Tasmanian wool farmers to purchase approx. 25-30 tonnes of merino wool. Ortovox has joined hands with the Tasmania’s foremost wool brokers The Merino Company (TMC) and Roberts for the supply of raw materials. Tasmania, an island state located in the Australian continent, is known for its high-quality, high-performance clean premium merino wool. Speaking to fibre2fashion, CEO of Ortovox Sportartikel Gmbh, Mr. Christian Schneidermier said, “Good merino wool is fine enough to prevent itching (18 microns at Ortovox); uniform and stable enough that the fine fibers will not break and so pure that only the smallest amount of water and soap is needed to clean it. Tasmanian wool provides us the necessary quality.”According to him, the wide open land and the farsighted farmers with over 180 years of experience provide the sheep with the best conditions to life. “These are only a few reasons for Tasmania to produce the world's most advanced wool fiber with the highest quality and due to the fact that we also need the highest quality, we use Tasmanian wool,” he informs.“The company is planning to import approx. 25-30 tonnes of Tasmanian wool and we see a great possibility to build and cultivate a long term relationship, where both sides end up as winners," he opinesMr. Eric Hutchinson, marketing manager of TMC, says, “The deal with Orthovox will promote Tasmanian wool in the European market, which will help farmers in Tasmania to expand their business in the region.” Fibre2fashion News Desk - India
Propylene prices stay steady in Asia & Europe , May 02, 2013German firm inks deal with Tasmanian wool growers , May 02, 2013PSF prices increase in Asian markets , May 02, 2013China’s textile & garment exports to Japan dip in Q1 , May 02, 2013ICAC forecasts further drop in 2013-14 cotton acreage , May 02, 2013 ShowPopupOnScroll("footerdiv",0.2); var newsid='145610'; var tmp=document.getElementById(newsid); if(tmp!=null) { document.getElementById(newsid).style.display='none'; }
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The Euro looks toward the reopening of banks in Cyprus for direction cues while the Swedish Krona may rise if German jobs data tops expectations. 
As the downward trending channel in the EURUSD continues to take shape, the pair looks poised for a move back towards the 23.6% Fibonacci retracement from the 2009 high to the 201 low around 1.2640-50, and the bearish sentiment surrounding the Euro may gather pace over the next 24-hours of trading should the German unemployment report dampen the fundamental outlook for Europe’s largest economy. However, we may see the EURUSD consolidate ahead of the ECB interest rate decision scheduled for April 4 as market participants weigh the outlook for monetary policy, and we may see a relief rally in the euro-dollar should the central bank increase its pledge to save the Euro. How To Trade This Event Risk Expectations for a further improvement in Germany’s labor market casts a bullish outlook for the single currency, and a positive print may pave the way for a long Euro trade as it dampens bets for an ECB rate cut. Therefore, if unemployment slips 2K or greater in March, we will need to see a green, five-minute candle following the release to establish a buy entry on two-lots of EURUSD. Once these conditions are met, we will set the initial stop at the nearby swing low or a reasonable distance from the entry, and this risk will generate our first objective. The second target will be based on discretion, and we will move the stop on the second lot to cost once the first trade reaches its mark in order to preserve our profits. In contrast, the ongoing slack in the real economy may continue to drag on job growth as businesses keep a cap on production, and the report may highlight a weakening outlook for the region as the euro-area remains mired in a recession. As a result, if the report disappoints, we will implement the same strategy for a short euro-dollar trade as the long position mentioned above, just in the opposite direction. Impact that the change in German Unemployment has had on EUR during the last month Pips Change (1 Hour post event ) Pips Change (End of Day post event) February 2013German Unemployment Change 
Unemployment in Europe’s largest economy slipped another 3K during February after contracting a revised 14K the month prior, while the jobless rate held steady at an annualized 6.9% following an upward revision in last month’s reading. Indeed, the Euro tracked lower following the uptick in the jobless rate, with the EURUSD threatening the 1.3100 region, and the single currency tracked lower throughout the North American trade as the pair ended the day at 1.3056. --- Written by David Song, Currency Analyst To contact David, e-mail dsong@dailyfx.com. Follow me on Twitter at @DavidJSong To be added to David's e-mail distribution list, please follow this link. New to FX? Watch this Video Questions? Comments? Join us in the DailyFX Forum Click Here to Download the DailyFX News Notifier 
The Euro looks toward the reopening of banks in Cyprus for direction cues while the Swedish Krona may rise if German jobs data tops expectations. 