Analytics, News, and Forecasts for CFD Markets: currency news — 01-06-2012.

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01.06.2012

17:41

American focus: euro gained from a two-year low versus the dollar

The yen rose against most of its major counterparts after the U.S. added the least jobs in a year last month, adding to concern global growth is stagnating. Payrolls climbed by 69,000 last month, less than the most- pessimistic forecast in a Bloomberg News survey, after a revised 77,000 gain in April that was smaller than initially estimated, the Labor Department reported. The median estimate called for a 150,000 May advance. The jobless rate rose to 8.2 percent from 8.1 percent, while hours worked declined.

Japan’s currency rose to its strongest in almost four months against the dollar as the premium investors get for investing in U.S. debt over Japanese securities fell to a record.

The euro gained from a two-year low versus the dollar amid speculation its decline was too quick as Spanish bond yields fell for a second day.

The dollar posted its biggest monthly gain since 2011 in May, beating bonds, stocks and commodities for the first time this year as investors sought refuge in U.S. assets while Europe’s sovereign crisis worsened.

14:50

Experts expect a new round of easing the Bank of England

Analysts at Citi Bank commented: "The further relaxation of the policy of the Bank of England is likely, and we believe that the next expansion of QE could happen as early as next week." The bank issued its comment after the report on the UK PMI reflected a sharp drop in activity.

JPMORGAN also predicts that the Bank of England may extend QE at the next meeting.

14:29

Tech on S&P futures

Resistance 3:1348/50 (area of May 14-15 highs)

Resistance 2:1334 (area of May 29-30 high)

Resistance 1:1315 (area of May 31 high and МА (200) for Н1)

Current price: 1285,50

Support 1:1286/80 (session low, МА (200) for D1)

Support 2:1240 (50,0 % FIBO 1070-1420)

Support 3:1200 (area of lows of December and 61,8 % FIBO 1070-1420)

14:10

May ISM mfg data components

prices paid 47.5 vs 61.0 in Apr

new orders 60.1 vs 58.2 in Apr

production 55.6 vs 61.0 in Apr

13:48

Option expiries for today's 1400GMT cut:

EUR/USD $1.2350, $1.2450, $1.2480, $1.2485, $1.2500

USD/JPY Y78.50, Y79.00

GBP/USD $1.5525

EUR/GBP stg0.8000, stg0.8050, stg0.8100

USD/CHF Chf0.9725

EUR/CHF Chf1.2050

AUD/USD $0.9700

12:45

European session:

Data:

07:15 Switzerland Retail Sales Y/Y April +4.2% +3.6% +0.1%

07:30 Switzerland Manufacturing PMI May 46.9 47.0 45.4

07:50 France Manufacturing PMI (finally) May 46.9 44.4 44.7

07:55 Germany Manufacturing PMI (finally) May 46.2 45.0 45.2

08:00 Eurozone Manufacturing PMI (finally) May 45.9 45.0 45.1

08:30 United Kingdom Purchasing Manager Index Manufacturing May 50.5 49.7 45.9

09:00 Eurozone Unemployment Rate April 10.9% 11.0% 11.0%

The euro fell as investors sought the relative safety of the Japanese currency and pushed German bond yields to record lows amid a deepening of Europe’s debt crisis.
The common currency slid to the lowest in almost two years against the dollar after euro-area unemployment surged to the highest on record.
The dollar climbed after Chinese manufacturing grew less than forecast last month and before a report that U.S. payrolls probably picked up from the weakest pace in six months.

EUR/USD: during european session the pair consolidated in $1,2310-$ 1,2370 area.

GBP/USD: the pair fell below $1,5300.

USD/JPY: the pair fell in Y78,00 area.

At 1400GMT Manufacturing ISM report and construction spending data are due.

12:36

Canada: GDP (m/m) , March +0.1% (forecast +0.3%)

11:46

Orders

EUR/USD

Offers $1.2400/10, $1.2380, $1.2370, $1.2350

Bids $1.2305, $1.2280

GBP/USD

Offers $1.5365, $1.5330/35

Bids $1.5250, $1.5235/30, $1.5200/190

AUD/USD

Offers $0.9800/05, $0.9785/90, $0.9765/70, $0.9750, $0.9730/35, $0.9685/90

Bids $0.9600, $0.9550, $0.9500

USD/JPY
Offers Y79.45/50, Y79.30, Y78.90/00, Y78.65/70
Bids Y78.00, Y77.65/60, Y77.50

EUR/JPY
Offers Y98.00, Y97.50, Y97.25/30, Y96.65/70
Bids Y96.00, Y95.50, Y95.00

EUR/GBP
Offers stg0.8040/45, stg0.8120, stg0.8080
Bids stg0.8030/25, stg0.8210, stg0.7965/60, stg0.7950

11:28

Tech on USD/JPY

Resistance 3: Y79.30 (МА (200) for Н1)
Resistance 2: Y79.10 (МА (100) for Н1)
Resistance 1: Y78.70 (session high, МА (200) for D1)
Current price: Y78.20
Support 1: Y78.10 (session low)
Support 2: Y77.30 (Feb 13-14 lows)
Support 3: Y76.00 (low of February)

11:10

Tech on USD/CHF

Resistance 3: Chf0.9800 (psychological level)

Resistance 2: Chf0.9780 (high of 2011)

Resistance 1: Chf0.9750 (session high)

Current price: Chf0.9739

Support 1: Chf0.9660 (May 31 low, МА (100) for Н1)

Support 2: Chf0.9590 (МА (200) for Н1)

Support 3: Chf0.9530 (area of May 24-28 lows)

10:53

Tech on GBP/USD

Resistance 3 : $1.5550 (МА (100) for Н1)

Resistance 2 : $1.5520 (May 31 high)

Resistance 1 : $1.5400 (area of intraday high)

Current price: $1.5315

Support 1 : $1.5260 (session low)

Support 2 : $1.5230 (low of 2012)

Support 3 : $1.5200 (psychological level)

10:38

Tech on EUR/USD

Resistance 3 : $1.2530 (МА (200) for Н1, resistance line from May 1)
Resistance 2 : $1.2430 (May 31 high)
Resistance 1 : $1.2370 (session high)
Current price: $1.2334
Support 1 : $1.2310 (session low)
Support 2 : $1.2150 (area of low of June’2010)
Support 3 : $1.2000 (psychological level)

09:31

Option expiries for today's 1400GMT cut:

EUR/USD $1.2350, $1.2450, $1.2480, $1.2485, $1.2500

USD/JPY Y78.50, Y79.00

GBP/USD $1.5525

EUR/GBP stg0.8000, stg0.8050, stg0.8100

USD/CHF Chf0.9725

EUR/CHF Chf1.2050

AUD/USD $0.9700

08:23

Asian session: The dollar rose versus the majority of its 16 major counterparts

01:00 China Manufacturing PMI May 53.3 52.1 50.4

02:30 China HSBC Manufacturing PMI (finally) May 49.3 48.7 48.4

The dollar rose versus the majority of its 16 major counterparts as investors sought the relative safety of the U.S. currency amid concern China’s economy is slowing and Europe’s debt crisis is deepening. The greenback climbed against its Australian and New Zealand peers after a report showed China’s manufacturing grew less than forecast last month. China’s manufacturing Purchasing Managers’ Index fell to 50.4 last month from 53.3 in April, the statistics bureau and logistics federation said in a statement today in Beijing. It’s the weakest reading since December and compares with the 52.0 median forecast in a Bloomberg News survey. A reading above 50 indicates expansion.
The dollar’s appeal was also boosted after leaders of Italy and the European Central Bank clashed with Germany by demanding bolder steps to stabilize the economies of the 17-nation euro bloc. In Europe, Italian Prime Minister Mario Monti and ECB President Mario Draghi pushed Germany to give up its opposition to direct euro-area aid for struggling banks.
Monti told a Brussels conference yesterday that German Chancellor Angela Merkel’s vision of a stable economy “risks being undermined because of lack of promptness in setting up the necessary instruments to limit the contagion.”
The yen weakened after Japanese Finance Minister Jun Azumi pledged to take “decisive” action if excessive gains in the currency persist. “We will continue to carefully monitor currency market moves with more caution,” Azumi told reporters in Tokyo today. “If these excessive moves continue, I think I must take decisive action” on the yen, he said.

EUR/USD: during the Asian session the pair fell, updated a monthly low.
GBP/USD: during the Asian session the pair fell to a yesterday's low.
USD/JPY: during the Asian session the pair restored after yesterday's falling.

It is a busy day for European and US data on Friday, including PMI data and also the non-farm payrolls from the US. Data sees the UK weekly John Lewis store sales data early on and then the 0630GMT release of the RBA Index of Commodity Prices from Australia. The final manufacturing PMI releases for France (0750GMT), Germany (0755GMT) and the main EMU number (0800GMT) are also due this morning
and are expected to confirm preliminary readings including 45.0 for the EMU data. The main US data is due at 1230GMT with the US labor market data, released at the same time as personal income data. Non-farm payrolls are forecast to rise 150,000 in May after the relatively modest 115,000 rise in April. The US Markit final April purchasing managers report is due at 1300GMT, while at 1400GMT, Manufacturing ISM report and construction spending data are due.