Analytics, News, and Forecasts for CFD Markets: currency news — 02-01-2013.

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02.01.2013

19:20

American focus: dollar regained all the lost ground

Despite the sharp rise in the euro against the dollar in early trading today, the single currency could not hold its positions, and showed a significant decline, which was caused by the weakening of risk appetite. In this regard, the euro is now trading down against the U.S. dollar. Such dynamics are observed, despite the agreement on the "budget cliff" that propelled the growth higher-yielding currencies such as the Australian dollar. Note that this may mean a change in the dynamics of the pair EUR / USD, as the rise in the stock market to raise capital from Europe to the U.S., which is pushing the dollar to strengthen. Meanwhile, taking into account the fact that the production data released today were weak, uncertainty in Europe continues to remain, while the outlook for the United States have become more positive.

In addition, despite the strengthening of the pound to a 16-month high against the U.S. dollar, which was due to a significant increase in the index of business activity, and achieving them in December, the highest level in more than a year, the exchange rate has fallen sharply, as has also been associated with a reduction of positions in risky assets.

Meanwhile, all these factors have not been able to influence the proper value of the Japanese currency, which for the trading session, continues to trade in a narrow range. Note also that the current gap, which was seen at the opening of tenders was called the statement by the Prime Ministers of Japan Abe, who said that now the most important issue for his country is fighting the appreciation of the national currency. He added that to address this situation, you may need unlimited creation of money, which will stimulate economic growth and to achieve 2% inflation.

18:20

European stocks close

European stocks rallied to the highest in 22 months as U.S. lawmakers passed a budget bill that avoided most scheduled tax increases threatening a recovery in the world’s largest economy.

Rio Tinto Group and Volkswagen AG (VOW) climbed at least 4 percent each to lead mining companies and automakers higher as Chinese manufacturing grew. ArcelorMittal gained the most in 11 weeks after selling a stake in its Canadian unit for $1.1 billion. BAE Systems Plc (BA/) soared 4 percent as the U.S. budget deal delayed defense spending cuts.

The Stoxx Europe 600 Index (SXXP) jumped 2 percent to 285.33 at the close of trading, the highest level since Feb. 28, 2011.

The number of shares changing hands in Stoxx 600 companies today was 29 percent higher than the 30-day average, according to data compiled by Bloomberg. Germany’s DAX Index advanced 2.2 percent to a five-year high and the U.K.’s FTSE 100 (UKX) climbed above 6,000 for the first time since July 2011. The Swiss market was closed for a holiday.

Volkswagen, Europe’s biggest carmaker, climbed 4 percent to 179 euros. Porsche SE gained 3.1 percent to 63.61 euros and Bayerische Motoren Werke AG (BMW) added 4.1 percent to 75.93 euros.

ArcelorMittal (MT), the world’s biggest steelmaker, gained 4.5 percent to 13.51 euros, the largest increase since Oct. 17. China Steel Corp. and Posco led a group that agreed to pay $1.1 billion for a 15 percent stake in ArcelorMittal Mines Canada Inc. to secure supplies of iron ore.

BAE Systems climbed 4 percent to 350.5 pence. The U.K. military-aircraft manufacturer, which gets about 45 percent of revenue from the U.S., may benefit from the budget bill’s two- month delay to scheduled spending cuts to military programs.

A.P. Moeller-Maersk A/S advanced 4.4 percent to 44,480 kroner as the head of north Asia operations for its container shipping unit said trade between Asia and Europe will grow. Demand for trade on the Asia-Europe route is expected to grow until Lunar New Year in February as Chinese manufacturers produce and export more, Tim Smith said in a Bloomberg Television interview in Hong Kong today.

15:30

USD / CAD: Canadian Dollar updated intraday high after U.S. indices

USD / CAD continued to fall after the publication of the U.S. indices. Pair has been under pressure in trading in Europe and the USA after the restore traction to the risk of impact on the USD.

According to forecasts of the ISM index in the manufacturing industry in the U.S. would grow from 49.5 to 50.3 in December, but the figure rose to 50.7. The index of prices paid rose from 52.5 to 55.5 vs. 51.5 forecast. Construction Spending fell 0.3% in November against the expected growth of 0.6% and 0.7% in the pre. period.

Pair USD / CAD is currently trading around 0.9840.

15:02

U.S.: Construction Spending, m/m, November -0.3% (forecast +0.6%)

15:01

U.S.: ISM Manufacturing, December 50.7 (forecast 50.2)

14:48

AUD / USD: Australian Dollar overcome a mark 1.0500

AUD / USD started 2013 strong rally after being bumped into downtrend line at 1.0585 2011-12 in December.

Couple broke up trend, but 1.0613/24 resistance area (highs in August and September) can continue to constrain growth.

At the moment the exchange rate AUD / USD traded at 1.0512

14:30

FRANCE T-BILL AUCTION RESULTS:

Sold E6.979bln vs target E5.8bln-E7.0bln

- E3.792bln 3-month BTF, avg yield -0.015% (-0.015%), cover 2.56 (2.29)

- E1.697bln 6-month BTF, avg yield -0.003% (-0.006%), cover 2.82 (4.45)

- E1.490bln 12-month BTF, avg yield 0.022% (0.005%), cover 2.87 (2.51)

14:00

U.S.: Manufacturing PMI, December 54.0 (forecast 53.2)

13:47

Option expiries for today's 1400GMT cut

EUR/USD $1.3100, $1.3250, $1.3300

EUR/GBP stg0.8050, stg0.8115

AUD/USD $1.0400, $1.0450, $1.0500

USD/JPY Y86.00, Y86.40, Y87.00

USD/CHF Chf0.9250

GBP/USD $1.6300

13:15

Orders

EUR/USD

Offers $1.3400, $1.3350, $1.3340,$1.3290/00

Bids $1.3225/20, $1.3200, $1.3160/50

GBP/USD

Offers $1.6450,$1.6400, $1.6355/60

Bids $1.6285/80, $1.6265/60, $1.6250, $1.6200

AUD/USD

Offers $1.0600, $1.0550, $1.0510, $1.0500

Bids $1.0335/30, $1.0310/00, $1.0250, $1.0240/30

EUR/JPY

Offers Y117.00,Y116.50, Y116.20/25, Y116.00

Bids Y115.00, Y114.50,Y114.00

USD/JPY

Offers Y88.50, Y88.00, Y87.50

Bids Y87.00/90, Y86.80, Y86.55/50, Y86.20, Y86.00, Y85.80

EUR/GBP

Offers stg0.8245/50, stg0.8200/05, stg0.8170/80

Bids stg0.8115/10, stg0.8100, stg0.8095/90, stg0.8050

13:00

Germany: CPI, m/m, December +0.9% (forecast +0.7%)

13:00

Germany: CPI, y/y , December +2.1% (forecast +1.9%)

12:50

USD/CAD fell to 0.9840

On Wednesday, USD/CAD has fallen amid spike traction for risk, tossed up CAD and other commodity currencies. Pair lost more than 100 points., Down from session highs (0.9946) 0.9840 to a new low and is now trading near 0.9850 (-0.8% from the opening price).

Now investors are expected to publish a report in 15.00 GMT on ISM manufacturing activity for December, which may give them a reason to think about the next step, the Fed. According to the forecast, the index is expected to return to the zone of expansion, from 49.5 to 50.2.

12:34

EUR / USD: Euro is trading around 1.3270 in anticipation of data on inflation in Germany

The single currency is kept at the top of the range 1.32-1.33 in anticipation of an early release of preliminary indicators of inflation in Germany. According to forecasts, the December CPI will rise by 1.9% y / y and 0.7% m / m vs. +1.9% and -0.2% in November.

Euro keeps fighting mood today because the U.S. had found a short-term solution to the fiscal cliff, adopted by the House Republicans and the President signed the bill.

11:00

GERMAN AUCTION RESULTS:

Germany alloted E4.148bln of 2-year benchmark 0.00% Dec 2014 Schatz issue Wednesday at an average yield of 0.01% (-0.01%) and covered 1.5 times (1.9).

10:47

EUR/JPY updated high with 2010

The Japanese yen continued to decline after the U.S. had found a short-term solution to the fiscal cliff.

During the Asian session, the pair pointed to a maximum of 115.99, but fell back in Europe, finding support at 115.10.

France's PMI came in line with expectations improved by 0.1 to 44.6. Spanish index fell in December from 45.3 to 44.6, confounding forecasts 45.1. Italian PMI exceeded forecast 45.3, appreciated from 45.1 to 46.7. Greek index eased to 41.4 from 41.8. Germany PMI figures and E-17 have disappointed, falling to 46.0 (from 46.8 - 46.3 forecast) and 46.1 (from 46.2 - 46.3 forecast), respectively.

10:20

Option expiries for today's 1400GMT cut

EUR/USD $1.3100

EUR/GBP stg0.8050, stg0.8115

AUD/USD $1.0400, $1.0450

USD/CHF Chf0.9250