- Analytics
- News and Tools
- Market News
Analytics, News, and Forecasts for CFD Markets: currency news — 02-03-2012.
The dollar rose to a nine-month high against the yen before U.S. reports next week forecast to show growth in the world’s biggest economy is gathering pace while deflation persists in Japan. The dollar gained against most major currencies after Federal Reserve Chairman Ben S. Bernanke cast doubt about a third round of asset purchases.
The yen dropped against most of its major counterparts as Japan’s consumer prices decreased, fanning speculation the central bank will expand monetary easing.
The euro declined a third day since the European Central Bank’s bank-loan program as a German report showed retail sales unexpectedly fell. The euro weakened versus the dollar after Germany’s statistics bureau said retail sales adjusted for inflation and seasonal swings fell 1.6 percent in January. Economists forecast a gain of 0.5 percent, a Bloomberg News survey showed. Euro-area retail sales dropped for a third month in January, the European Union’s statistics office will say on March 5, another Bloomberg survey showed. The ECB will keep its benchmark interest rate at a record low 1 percent on March 8, according to a separate survey. European leaders agreed this week to provide capital faster for the planned permanent bailout fund in a concession to international pressure to strengthen the currency bloc’s defenses against the debt crisis.
Sterling rose for a sixth day against the euro, the longest stretch since November 2010, as an industry report showed an index for U.K. construction rose in February to an 11-month high, boosting speculation the nation will avoid a recession. The pound gained 0.2 percent to 83.28 pence per euro after reaching 83.14, the strongest level since Feb. 20.
European stocks rose, with the Stoxx Europe 600 Index capping a weekly gain, as policy makers declared a turning point in the sovereign-debt crisis and shifted their focus to pulling the region out of a recession. In a two-day summit that began yesterday in Brussels, euro- area leaders agreed to provide capital faster for the planned permanent bailout fund in a concession to international pressure to strengthen the region’s defenses against the debt crisis. Today, the leaders committed to a pro-growth agenda even as they signed a deficit-control treaty at the 17th high-level meeting since the outbreak of the crisis.
Spain raised its budget deficit target for 2012, breaching its commitment with its European partners. Prime Minister Mariano Rajoy announced a new deficit goal of 5.8 percent of gross domestic product compared with the 4.4 percent target previously agreed with the European Union.
National benchmark indexes rose in 15 of the 18 western European markets. France’s CAC 40 added less than 0.1 percent. Germany’s DAX declined 0.3 percent and the U.K.’s FTSE 100 lost 0.3 percent.
International Power, an operator of electricity plants on five continents, advanced 4.4 percent to 365.5 pence. Electricite de France SA, Europe’s biggest power generator, rallied 3.3 percent to 19.60 euros. Suez Environnement Co., the region’s second-biggest water company, climbed 3.5 percent to 11.80 euros.
Barclays added 2.2 percent to 256.75 pence. The U.K.’s third-largest lender by assets took 8.2 billion euros of three- year loans from the European Central Bank to provide “funding stability” for its units in Spain and Portugal.
Commerzbank, Germany’s second-largest bank, gained 1.2 percent to 1.96 euros. BNP Paribas SA, France’s biggest lender, rose 1.5 percent to 37.92 euros.
Belgacom dropped 4.9 percent to 22.89 euros. The Belgian telephone company said full-year net income fell to 756 million euros from 1.27 billion euros for the prior year.
U.S. stocks retreated amid concern that a rally in the Standard & Poor’s 500 Index to an almost four-year high has outpaced global growth prospects.
The euro weakened as Spain raised its budget-deficit target for 2012 and German retail sales unexpectedly declined. Spanish Prime Minister Mariano Rajoy announced a new deficit goal of 5.8 percent of gross domestic product compared with the 4.4 percent target previously agreed with the European Union.
Dow 12,952.45 -27.85 -0.21%, Nasdaq 2,976.99 -11.98 -0.40%, S&P 500 1,369.25 -4.84 -0.35%
A gauge of energy shares had the biggest decline among 10 groups in the S&P 500, falling 1.1 percent. Exxon Mobil Corp. (XOM) slumped 0.7 percent to $86.23. Anadarko Petroleum Corp. dropped 3.6 percent to $82.72.
Big Lots slid 4 percent to $42.73 after reporting fourth- quarter sales of $1.63 billion. On average, analysts surveyed by Bloomberg estimated $1.66 billion.
Travelers Cos. lost 1.1 percent to $57.78. The only insurer in the Dow Jones Industrial Average was downgraded to “equal weight” at Morgan Stanley. That means the stock’s total return is expected to be in line with the average for its industry peers over the next 12 to 18 months. The previous rating was “overweight.”
Overstock.com Inc. slumped 13 percent to $5.99. The online discount retailer reported fourth-quarter sales of $314.1 million, trailing the average estimate of $377.5 million from two analysts in a Bloomberg survey.
Yelp climbed 62 percent to $24.33. The San Francisco-based company raised $107.3 million in the IPO, pricing the shares at $15 each, according to a statement yesterday. The company earlier offered them for $12 to $14.
Oil fell for the first time in three days after Saudi Arabia denied a report of a pipeline explosion in its Eastern province and as the dollar headed for its biggest weekly gain in almost two months.
Oil is poised for the first weekly decline since Feb. 3 after a Saudi official said there was no sabotage at oil facilities in the Qatif area. Prices rose above $110 a barrel yesterday after Iran’s Press TV said an explosion hit pipelines in the area. The dollar gained against the euro before U.S. reports next week that are forecast to show growth in the world’s biggest economy.
Oil for April delivery dropped to $106.08 a barrel on the New York Mercantile Exchange. The contract rose to $110.55 yesterday after floor trading closed on the Press TV report. Prices are down 2.1 percent this week.
Brent oil for April settlement slipped $1.57, or 1.2 percent, to $124.63 a barrel on the London-based ICE Futures Europe exchange. It surged to $128.40 yesterday, the highest price since July 2008.
World economic growth is expected to slow to 3.25% in 2012
The U.S. should maintain a stimulating monetary policy, to agree to a fiscal plan
The U.S. needs a policy that will correct the situation on the labor and housing markets
In Europe, the expected mild recession in 2012
Europe should support growth, to soften its monetary policy
The ECB should not hesitate in using unconventional monetary measures
Europe needs a single bank body
European banks need to create capital reserves without reducing growth in lending
China's economy cools, the GDP in 2012 is expected to reach 8.25% against 9.25% in 2011
Gold prices are driven down by the strong dollar and by the end of the week may show the largest decline since mid-December.
The dollar rose to a maximum of nine months against the yen and rose against the euro, putting pressure on gold, the price of which usually varies inversely proportional to the dollar.
Reflecting investors' gold reserves of the world's largest secured precious metals ETF fund exceeded 70.76 million ounces, reaching an absolute maximum.
Isolation of the European Central Bank loans to low-cost 500 billion euros this week will support gold in the long run, as will help to keep interest rates in the eurozone, analysts say. On Friday, gold prices in euros rose by 0.4 percent to EUR 1.294,23 per ounce, but by the end of the week may be reduced by 1.8 percent.
March futures of gold on COMEX today fell to 1705.2 dollars per ounce.
EUR/USD $1.3300, $1.3320, $1.3375, $1.3400, $1.3500
USD/JPY Y80.75, Y81.15, Y81.30, Y81.60, Y82.10
AUD/USD $1.0800, $1.0710
GBP/USD $1.6000
EUR/CHF Chf1.2050
Data:
07:00 Germany Retail sales, real adjusted January -1.4% +0.5% -1.6%
07:00 Germany Retail sales, real unadjusted, y/y January -0.9% +0.2% +1.6%
10:00 Eurozone Producer Price Index, MoM January -0.2% +0.6% +0.7%
10:00 Eurozone Producer Price Index (YoY) January +4.3% +3.6% +3.7%
The dollar rose before U.S. reports next week forecast to show growth in the world’s biggest economy is gathering pace.
The yen dropped against most of its major counterparts as Japan’s consumer prices decreased, fanning speculation the central bank will expand monetary easing.
The euro declined for a third day against the dollar as a German report showed retail sales unexpectedly fell.
EUR/USD: the pair decreased in $1.3200 area.
GBP/USD: the pair fall in $1,5850 area.
USD/JPY: the pair grown, showed high in Y81.70 area.
Greeks understand need for economic restructuring;
- high debt made the current situation unavoidable;
- wage losses will be short-term;
- must get growth that is not based on lending;
- signs of recovery will be visible from mid-2013;
- PSI expected to be concluded by march 20.
EUR/USD
Offers $1.3350/60, $1.3260/65, $1.3240/45
Bids $1.3210/00, $1.3185/80, $1.3155/50, $1.3140/35
EUR/JPY
Offers Y110.00, Y109.75/80, Y109.45/50, Y109.20/25, Y108.75/80, Y108.15/20
Bids Y107.50/45, Y107.25/20, Y106.85/80
AUD/USD
Offers $1.0900, $1.0850/60, $1.0830/35, $1.0825
Bids $1.0750, $1.0740/35, $1.0710, $1.0685/80, $1.0655/50
USD/JPY
Offers Y82.50, Y82.25/30, Y82.00
Bids Y81.35/30, Y80.80/75, Y80.45/40
Resistance 3: Y82.80 (Apr 27 high)
Resistance 2: Y82.20 (high of May)
Resistance 1: Y81.70 (session high, Feb 27 high)
Current price: Y81.54
Support 1:Y80.80 (Mar 1 low)
Support 2:Y80.00/90 (Feb 23-24 and 28 lows)
Support 3:Y79.50 (Feb 21 low, 38,2 % FIBO Y76.00-Y81.70)
Комментарии: на Н1 сформировалась дивергенция между ценой и индикатором MACD, что указывает на рост вероятности коррекции.
Resistance 3: Chf0.9210 (Feb 17 high)
Resistance 2: Chf0.9180 (Feb 20 high)
Resistance 1: Chf0.9140 (Feb 21-22 highs)
Current price: Chf0.9122
Support 1: Chf0.9070 (Mar 1 high)
Support 2: Chf0.9045 (session low)
Support 3: Chf0.9020/10 (earlier resistance, Feb 27 high, Мак 1 low)
Resistance 3 : $1.5975/90 (area of Feb 29 and Mar 1 high)
Resistance 2 : $1.5940 (intraday high)
Resistance 1 : $1.5900 (Mar 1 low)
Current price: $1.5860
Support 1 : $1.5850 (session low)
Support 2 : $1.5830 (МА (200) for Н1)
Support 3 : $1.5800 (area of Feb 27-28 low)
Resistance 3 : $1.3390 (Feb 28 high)
Resistance 2 : $1.3360 (Mar 1 high and Feb 24 low)
Resistance 1 : $1.3280 (Mar 1 low)
Current price: $1.3235
Support 1 : $1.3230 (50,0 % FIBO $1,2975-$ 1,3480, Feb 23 low, session low)
Support 2 : $1.3170 (61.8% FIBO $1,2975-$ 1,3480)
Support 3 : $1.3110 (Feb 17 low)
Комментарии: на Н1 формируется дивергенция между ценой и индикатором MACD, что указывает на рост вероятности коррекции.
EUR/USD $1.3300, $1.3320, $1.3375, $1.3400, $1.3500
USD/JPY Y80.75, Y81.15, Y81.30, Y81.60, Y82.10
AUD/USD $1.0800, $1.0710
GBP/USD $1.6000
EUR/CHF Chf1.2050
Yesterday the dollar depreciated against the majority of its most-traded counterparts as reports showed manufacturing from China to the U.S. expanded in February, increasing speculation that global growth is on the mend. The Institute for Supply Management’s U.S. factory index fell to 52.4 in February from 54.1 in the prior month, the Tempe, Arizona-based group’s data showed. Readings above 50 signal growth. A separate report showed U.S. personal spending increased 0.2 percent in January, less than the 0.4 percent forecast in a Bloomberg survey. The U.S. grew at a “modest to moderate pace” in January and early February, fueled by manufacturers, the Fed said yesterday in its Beige Book business survey. The growth is being echoed in other parts of the world, spurring investor confidence in the global economic recovery. China’s purchasing managers’ index rose for a third month in February, increasing to 51 from 50.5 in January, the statistics bureau and logistics federation said.
The euro fell for a fifth day versus the pound, the longest such streak since November 2010, after a second round of loans from the European Central Bank yesterday failed to bring down Portuguese bond yields. The yields on five-year Portuguese notes rose for an eighth day, touching 17.5 percent, the highest level since Feb. 7. Default insurance on Greek debt won’t be paid out, the International Swaps & Derivatives Association said after it was asked to rule whether part of the nation’s $170 billion bailout was a credit event. The decision of the committee was unanimous, ISDA said on its website.
EUR/USD: yesterday the pair was under pressure.
GBP/USD: yesterday the pair rose, closed day above $1.5950.
USD/JPY: yesterday the pair gain consolidated nearby Y81.00.
European data for Friday starts at 0700GMT with German retail sales data, while at the same time, the UK BDO High Street Sales Tracker
data is released. EMU data at 1000GMT includes January PPI. UK data also includes the Markit/CIPS Construction PMI at 0930GMT along with Q4 Construction New Orders data.
Asian stocks fell, with the region’s benchmark index headed for its first decline in three days, as commodity producers retreated on lower metal prices and Chinese developers dropped after home prices declined.
Nikkei 225 9,707.37 -15.87 -0.16%
Hang Seng 21,387.96 -292.12 -1.35%
S&P/ASX 200 4,255.55 -43.00 -1.00%
Shanghai Composite 2,426.11 -2.37 -0.10%
BHP Billiton Ltd., the world’s No. 1 mining company, lost 1.5 percent in Sydney, the biggest drag on the MSCI Asia Pacific Index.
China Overseas Land & Investment Ltd., a state-owned builder, lost 5.5 percent in Hong Kong.
Country Garden Holdings Company Ltd. slumped 8.6 percent after the developer said it would sell shares at a discount.
European stocks rose, extending the Stoxx Europe 600 Index’s best start to a year since 1998, as Spanish and French borrowing costs dropped and a report showed initial jobless claims fell to a four-year low in the U.S.
Spain and France sold 12.5 billion euros ($16.7 billion) of bonds as yesterday’s European Central Bank loans to banks helped spur demand for debt. The rate on Italy’s two-year notes dropped below 2 percent for the first time since October 2010.
In the U.S., a Labor Department report showed initial jobless claims fell last week to a level matching a four-year low, dropping to 351,000. That’s the lowest since March 2008 and fewer than the average economist forecast of 355,000.
China’s manufacturing improved for a third straight month in February, signaling that the world’s second-biggest economy is maintaining momentum amid the euro area’s crisis.
National benchmark indexes climbed in all of the 18 western-European markets, except Norway. Germany’s DAX Index rose 1.3 percent. France’s CAC 40 Index gained 1.4 percent and the U.K.’s FTSE 100 Index added 1 percent.
Veolia Environnement jumped 15 percent to 10.55 euros, the largest gain on the Stoxx 600, after saying it’s in exclusive talks to sell Transdev, its mass-transit unit.
Cable & Wireless Worldwide Plc soared 15 percent to 31.98 pence after Tata Communications Ltd. said it may make a cash offer for the company and may decide on a transaction by the end of the month.
WPP Plc gained 3 percent to 827.5 pence after the world’s largest advertising agency reported that revenue rose to 10 billion pounds ($16 billion) in 2011. Analysts had estimated sales of 9.96 billion pounds. WPP predicted that revenue will grow 4 percent in 2012, faster than the industry average, because of its position in emerging markets.
PSA Peugeot Citroen slid 3.9 percent to 14.47 euros after Moody’s Investors Service cut the carmaker’s credit rating to junk. Peugeot announced a broad alliance with General Motors Co. yesterday that will include joint purchasing and vehicle development in an effort to revitalize their European operations.
U.S. stocks advanced, sending the Standard & Poor’s 500 Index to the highest level since 2008, amid a rally in financial shares and after government data showed that jobless claims declined to a four-year low.
Equities rose as the number of Americans filing first-time claims for jobless benefits fell to a level matching a four-year low, more evidence the labor market is healing. Gains in Europe also helped lift the S&P 500 after Spain and France sold 12.5 billion euros ($16.7 billion) of bonds as the European Central Bank’s long-term refinancing operation of lending to banks helped spur demand.
Dow 12,980.30 +28.23 +0.22%, Nasdaq 2,988.97 +22.08 +0.74%, S&P 500 1,374.09 +8.41 +0.62%
JPMorgan increased 2.9 percent, the most in the Dow, to $40.37. Bank of America had the second-largest advance in the 30-stock gauge, climbing 1.9 percent to $8.12.
Gap surged 7.2 percent, the most in the S&P 500, to $25.05. Sales climbed 4 percent, beating the average projection for a 1.4 percent drop from analysts surveyed by Retail Metrics Inc. Unseasonably warm weather boosted purchases of spring merchandise.
Advanced Micro Devices Inc. climbed 2.2 percent to $7.51. The second-largest maker of processors for personal computers said it will pay $334 million to buy SeaMicro Inc., a chip designer with expertise in servers, adding technology that can help it compete with Intel Corp. in the market for data centers.
Sotheby’s tumbled 9.1 percent to $35.75. The publicly traded auctioneer of fine arts and collectibles said fourth- quarter profit fell 26 percent as sales slid.
Resistance 3: Chf0.9205 (Feb 17 high)
Resistance 2: Chf0.9140 (Feb 21-22 high)
Resistance 1: Chf0.9080 (high of the American session on Feb 23)
The current price: Chf0.9068
Support 1: Chf0.9045 (session low)
Support 2: Chf0.9020/10 (Feb 27 high, Mar 1 low)
Support 3: Chf0.8930/35 (area of Feb 24-29 low)
Resistance 3 : $1.3485 (Feb 24-27 high)
Resistance 2 : $1.3390 (Feb 28 low)
Resistance 1 : $1.3360 (Mar 1 high and Feb 24 low)
The current price: $1.3301
Support 1 : $1.3280 (Mar 1 low)
Support 2 : $1.3230 (50,0% FIBO $1,2975-$ 1,3480, Feb 23 low)
Support 3 : $1.3210 (Feb 22 low)
(pare/closed(00:00 GMT +02:00)/change, %)
EUR/USD $1,3312 -0,09%
GBP/USD $1,5954 +0,25%
USD/CHF Chf0,9059 +0,15%
USD/JPY Y81,12 -0,02%
EUR/JPY Y107,96 -0,14%
GBP/JPY Y129,40 +0,22%
AUD/USD $1,0809 +0,73%
NZD/USD $0,8392 +0,62%
USD/CAD C$0,9855 -0,46%
01:00 U.S. FOMC Member James Bullard Speaks 0
07:00 Germany Retail sales, real adjusted January -1.4% +0.5%
07:00 Germany Retail sales, real unadjusted, y/y January -0.9% +0.2%
08:00 United Kingdom Halifax house price index February +0.6% +0.1%
08:00 United Kingdom Halifax house price index 3m Y/Y February -1.8%
09:30 United Kingdom PMI Construction February 51.4 51.5
10:00 Eurozone Producer Price Index, MoM January -0.2% +0.6%
10:00 Eurozone Producer Price Index (YoY) January +4.3% +3.6%
13:30 Canada GDP (m/m) December -0.1% +0.3%
© 2000-2025. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
