China and Japan Move Away From Dollar, Will Conduct Bilateral Trade Using Own Currencies

China, Japan, and Russia will soon be stepping away from the US dollar. On June 1st, the two country will move to conducting trade with one another by directly using their own currencies.

In March 2012, the Japanese government declare that they will be purchasing 65 billion yuan ($10 billion of Chinese debt) for its own reserves.

The People's Bank said on Tuesday that an intial trading rate would be set at 7.9480 yuan for every 100 yen at market in Shanghai. Unlike yuan-dollar trading, which only allows for a daily flucatuation of 1 percent in yuan trading value, yuan trading with the yen will be able to move within a 3 percent range.

The two countries are rated the world's second and third largest economies respectively. In over the past decade their economic relationship has strengthened. Trade between the two countries reached approximately 27.5 trillion yen ($347 billion) in 2011. The direct trade will carry benefits for both countries.

You are reminded that you are responsible for your own due diligence. We share in neither your profit nor your losses.

Hana Mining Ltd HMG.V - Warning Alert

A new resource estimate for Hana Mining Ltd.’s Ghanzi copper-silver project in Botswana was unexpectedly smaller and lower grade than a previous estimate, sparking a plunge in the company’s share price. “We do not believe that Hana Mining has the capacity to further develop the Ghanzi project, and the marginal economics and high cost ... are such that we believe the asset will most likely only have corporate appeal to nearby Discovery Metals,” an Australian company developing its own assets in the country.

You are reminded that you are responsible for your own due diligence. We share in neither your profit nor your losses.

Selling from Hong Kong to New York

From East to the West, traders are lined up against the North American markets. Oil Fell $1.58 a barrel and gold fell $22 an ounce. With commodities falling, Canadian dollar also slipped 0.31 cents.

Investors are worried about the slowing growth in China, where the government reported last friday that industrial production rose less than expected. Europe is China's largest export market and with Europe sliding back into recession, China is sure to share some of the pain.

You are reminded that you are responsible for your own due diligence. We share in neither your profit nor your losses.

Western Wind Energy is starting to bounce back with strength

We are seeing price movement up and buying interest on the bid side that is supported by volume for WND.V. On April 27th, 2012, WND.V bounced to a high of $1.59 from a low of $1.42 the day before that was supported with volume of 561,813 shares. Then it followed with volume of 290,990 shares and 206,700 shares staying above $1.50.

Another support to this movement is the increase in oil price. Today, oil closed down to $105 from $106. If oil price continues to move higher, we can expect the energy sector follow along.

You are reminded that you are responsible for your own due diligence. We share in neither your profit nor your losses.