- Analytics
- News and Tools
- Market News
Analytics, News, and Forecasts for CFD Markets: currency news — 02-07-2012.
The dollar rose against the euro as a gauge of U.S. manufacturing unexpectedly fell, indicating a mainstay of the nation’s economic expansion may be faltering and stoking investor demand for safety. The Institute for Supply Management’s U.S. manufacturing index contracted for the first time in almost three years.
The euro reversed its biggest gain versus the yen in more than 15 months as data showed unemployment in the 17 countries sharing the currency climbed to a record in May.
The euro slid against the dollar and yen as the jobless rate in the 17-nation currency bloc rose to 11.1 percent in May from 11 percent in April, the European Union’s statistics office in Luxembourg said today. It was the highest since the data series started in 1995.
As reported today, the Greek government, the country received the last tranche of the E1-billion bail-credit. Means an agreement on the allocation of which was reached in May, have been paid through the EFSF.
Earlier today, a representative of the Governing Council of the ECB Joerg Asmussen urged affected countries to adhere to eurozone reforms required "Troika", instead of trying to revise the terms of salvation.
Data:
07:15 Switzerland Retail Sales Y/Y May +0.1% +0.9% +6.2%
07:30 Switzerland Manufacturing PMI June 45.4 44.6 48.1
07:50 France Manufacturing PMI (finally) June 44.7 45.3 45.2
07:55 Germany Manufacturing PMI (finally) June 45.2 44.7 45.0
08:00 Eurozone Manufacturing PMI (finally) June 45.1 44.8 45.1
08:30 United Kingdom Purchasing Manager Index Manufacturing June 45.9 46.7 48.6
09:00 Eurozone Unemployment Rate May 11.0% 11.1% 11.1%
The euro fell as a report showed unemployment in EMU climbed to a record in May.
The euro weakened after jumping the most against the dollar in eight months on June 29 as regional leaders eased terms on loans to Spanish banks.
The European Central Bank will probably lower the benchmark rate by 0.25 percentage point on July 5.
The jobless rate in the euro area rose to 11.1 percent in May from 11 percent in April, the European Union’s statistics office in Luxembourg said today. That’s the highest since the data series started in 1995.
EUR/USD: during the European session the pair fell, showing low at $1.2600.
GBP/USD: the pair rose to $1.5700, but then returned to previous levels.
USD/JPY: the pair showed low in Y79,40 area, but later returned to Y79,70 area.
EUR/USD
Offers $1.2750, $1.2690/00
Bids $1.2610/00, $1.2560/50, $1.2540, $1.2500
GBP/USD
Offers $1.5750, $1.5720
Bids $1.5610/00, $1.5580/70, $1.5550, $1.5525/20, $1.5500
AUD/USD
Offers $1.0400, $1.0350, $1.0320/30, $1.0300
Bids $1.0200, $1.0170/60, $1.0150, $1.0100
EUR/JPY
Offers Y101.50, Y101.00, Y100.85/90
Bids у Y100.00, Y99.70, Y99.50, Y99.25/20EUR/GBP
Offers stg0.8150, stg0.8120/25, stg0.8100, stg0.8080/90
Bids stg0.8040/35, stg0.8020/10, stg0.8000, stg0.7965/60
Resistance 3: Y80.90 (50.0% FIBO Y84,20-Y77,60)
Resistance 2: Y80.55 (MA (100) for D1, May and June high)
Resistance 1: Y79.90 (June 27 high)
Current price: Y79.64
Support 1: Y79.10 (June 29 low)
Support 2: Y78.80 (June 20 low)
Support 3: Y78.60 (June 15 low)
Resistance 3: Chf0.9680 (June 4-5 and 28 high)
Resistance 2: Chf0.9595 (61.8% FIBO $ 0,9465 - $ 0,9680, June 28 low)
Resistance 1: Chf0.9570 (MA (200) for H1, 50% FIBO $ 0,9465 - $ 0,9680, intraday high on Jun 29)
Current price: Chf0.9516
Support 1: Chf0.9460 (June 29 low)
Support 2: Chf0.9420 (low of June)
Support 3: Chf0.9370 (May 21 low)
Resistance 3: $ 1.5780 (high of June, 50,0% FIBO $ 1,6300 - $ 1,5270)
Resistance 2: $ 1.5730 (June 21 high)
Resistance 1: $ 1.5680 (session high)
Current Price: $ 1.5677
Support 1: $ 1.5620/30 (MA (200) for H1, 38,2% FIBO $ 1,5486 - $ 1,5716)
Support 2: $ 1.5570 (61.8% FIBO $ 1,5486 - $ 1,5716)
Support 3: $ 1.5480/70 (June 14-15 and 28 lows)
Resistance 3: $ 1.2820 (May 21 high)
Resistance 2: $ 1.2740 (high of June)
Resistance 1: $ 1.2690 (Jun 29 high)
Current Price: $ 1.2637
Support 1: $ 1.2580 (38.2% FIBO $ 1.2410-$ 1.2690, Jun 22 high)
Support 2: $ 1.2550 (MA (200) for H1, 50,0% FIBO $ 1.2410-$ 1.2690)
Support 3: $ 1.2520 (MA (100) for H1, 61,8% FIBO $ 1.2410-$ 1.2690)
USD/JPY Y79.00, Y79.50, Y79.60, Y80.00
EUR/USD $1.2500, $1.2550, $1.2600, $1.2700, $1.2750
GBP/USD $1.5650, $1.5700
AUD/USD $.0000, $1.0130, $1.0200, $1.0300
02:30 China HSBC Manufacturing PMI (finally) June 48.4 48.1 48.2
06:30 Australia Commodity Prices, Y/Y June -9.9% -10.5
The euro fell against major peers before data today that may show the currency bloc’s jobless rate climbed to a record and manufacturing contracted, boosting prospects the European Central Bank will cut interest rates. The ECB, which has kept borrowing costs at a record low of 1 percent since December, will probably lower the benchmark rate by 0.25 percentage point on July 5, a Bloomberg News survey of economists shows. The jobless rate in the euro zone probably rose to 11.1 percent in May from 11 percent the prior month, a Bloomberg News Survey of economists showed. It would be the highest on record going back to 1990.
The 17-nation currency posted the biggest jump in more than a year versus the yen on June 29 after euro leaders eased terms on loans to Spanish banks.
Stocks jumped globally on June 29 after euro-area leaders dropped the requirement that governments get preferred creditor status on crisis loans to Spain’s blighted banks. Lenders can also be recapitalized directly with European bailout funds rather than being channeled through governments, European Union President Herman Van Rompuy said after a two-day summit.
Japan’s largest manufacturers expect the yen to trade at an average of 78.93 per dollar in the second half of this fiscal year, the Bank of Japan (8301)’s quarterly Tankan report showed today. They forecast 78.24 in a March survey.
Manufacturer sentiment rose to minus 1 in June from negative 4 in March, according to the report. The BOJ is scheduled to hold a two-day policy meeting starting July 11.
EUR / USD: during the Asian session the pair dropped after Friday’s growth.
GBP / USD: during the Asian session the pair dropped after Friday’s growth.
USD / JPY: during the Asian session the pair dropped after Friday’s growth.
European events for Monday start at 0625GMT when ECB Executive Board member Joerg Asmussen is due to speak on "Can we restore confidence in Europe?", in Athens. France new car registrations data is due a 0700GMT, although today also sees the release of the June final manufacturing PMI data from Spain at 0713GMT, Italy at 0743GMT, France at 0748GMT and Germany at 0753GMT. The EMU data then follows at 0758GMT. EMU May unemployment is due at 0900GMT at the same time as ECB Governing Council member Ewald Nowotny and also German Chancellor Angela Merkel speak. The UK releases Markit/CIPS Manufacturing PMI for June at 0828GMT.
The euro rose against the dollar after European leaders have lowered credit conditions for Spanish banks, taking a step to resolving the debt crisis in the region and increased demand for Eurocurrency.
President of the European Union, Herman Van Rompuy said that officials at a meeting in Brussels agreed to waive the condition that emergency loans for Spanish banks will be provided with privileged conditions.
EU leaders will meet today at the second day of talks to discuss measures to stem the debt crisis, which led to what is already five countries of the euro area called for help. Earlier this month, Spain has agreed to accept a rescue loan of 100 billion euros to help recapitalize the banking sector.
The dollar index, since the decision of EU leaders have reduced investors' appetite for risky assets.
The yen fell against all major currencies, as rising U.S. bond yields helped to attract more money into dollar-denominated securities, which caused the weakening of the yen.
The Canadian dollar rose to a maximum of 30 November, as rising stocks and commodities caused the increased demand for higher-yielding assets.
On the last day of the week the price of gold played the uncertain dynamics of the previous four sessions.
On Friday, the markets cheered came early in the morning with the news of the EU summit that European leaders have endorsed the use of EFSM for direct recapitalization of banks experiencing financial difficulties, which is especially beneficial for virtually paralyzed the banking system in Spain. This means, in addition, that will be established a single supervisory authority, initially controlled by the ECB, which is also quite a big step towards a unified banking union. Many doubt that the funds of EU financial assistance will be enough. However, it seems at the moment the markets are satisfied with the expected increase in financial aid package, making an important decision on the direct infusion of funds into troubled banks the euro area, as well as removing the status of "seniority" with government loans, payments that were previously carried out in priority to payments private bondholders.
The leaders of the eurozone on Thursday pleased investors by agreeing to take urgent measures to reduce the rapidly rising cost of borrowing in Italy and Spain and to establish a single supervisory authority for banks to euro-zone by the end of this year.
This news caused the rise of European stock markets, the euro and the oil and decrease in bond yields in Spain and Italy, but analysts warn that the growth markets will be short-lived.
For the second quarter spot price of gold fell by 5.87%, the worst result since the second quarter of 2004, due to the growth of the dollar. After a 11-year price increases, reaching a historical high of $ 1.920,30 per ounce in September 2011, gold is only slightly increased in price this year, trading at an average of $ 1,650 in the first half.
Demand for the physical market in India - the world's largest consumer of gold - a little rose on Friday by reducing prices. Traders are waiting for the onset of the rainy season, which determines the farmers' income. In rural areas account for 60% of the Indian demand for gold.
Sales of gold coins in the U.S. in the second quarter were down 39% compared to the first up to 127,500 ounces - its lowest level in four years.
Resistance 3: Y81.45 (Apr 27 high)
Resistance 2: Y80.65 (Jun 25 high)
Resistance 1: Y80.00 (session high)
Current price: Y79.62
Support 1: Y79.35 (low of the European session on Jun 29)
Support 2: Y79.10 (Jun 29 low)
Support 3: Y78.80 (Jun 20 low)
Resistance 3: Chf0.9590 (Jun 28 high)
Resistance 2: Chf0.9570 (high of the European session on Jun 29)
Resistance 1: Chf0.9525 (session high)
Current price: Chf0.9513
Support 1: Chf0.9460 (Jun 29 low)
Support 2: Chf0.9420/25 (area of Jun 18-20 lows)
Support 3: Chf0.9365/75 (area of May 21-22 lows)
Resistance 3: $ 1.5775 (Jun 20 high)
Resistance 2: $ 1.5730 (Jun 21 high)
Resistance 1: $ 1.5715 (Jun 29 high)
Current Price: $ 1.5662
Support 1: $ 1.5650 (session low)
Support 2: $ 1.5575 (low of the European session on Jun 29)
Support 3: $ 1.5470/85 (area of Jun 14 and 28 lows)
Resistance 3: $ 1.2810/25 (area of May 21-22 highs)
Resistance 2: $ 1.2745 (Jun 20 high)
Resistance 1: $ 1.2695 (Jun 29 high)
Current Price: $ 1.2625
Support 1: $ 1.2610 (session low)
Support 2: $ 1.2550 (low of the European session on Jun 29)
Support 3: $ 1.2525 (Jun 28 high)
02:30 China HSBC Manufacturing PMI (finally) June 48.4 48.1 48.2
06:30 Australia Commodity Prices, Y/Y June -9.9%
07:15 Switzerland Retail Sales Y/Y May +0.1% +0.9%
07:30 Switzerland Manufacturing PMI June 45.4 44.6
07:50 France Manufacturing PMI (finally) June 44.7 45.3
07:55 Germany Manufacturing PMI (finally) June 45.2 44.7
08:00 Eurozone Manufacturing PMI (finally) June 45.1 44.8
08:30 United Kingdom Purchasing Manager Index Manufacturing June 45.9 46.7
09:00 Eurozone Unemployment Rate May 11.0% 11.1%
12:30 Canada Bank holiday -
13:00 U.S. Manufacturing PMI (finally) June 54.0 53.0
14:00 U.S. ISM Manufacturing June 53.5 52.1
14:00 U.S. Construction Spending, m/m May +0.3% +0.3%
17:15 U.S. FOMC Member Williams Speaks -
© 2000-2026. 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
