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Analytics, News, and Forecasts for CFD Markets: currency news — 02-10-2012.
The euro gained versus the dollar for a second day as speculation persisted that Spain will eventually seek a bailout even after Prime Minister Mariano Rajoy said a request for rescue funds is not imminent. Spain’s Rajoy said today he has no plans to request a bailout soon, fending off mounting speculation that a bid was near. Asked at a press conference in Madrid if a bailout request was imminent, Rajoy said: “No.”
The yen fell versus most major currencies on bets Japan may act to weaken the currency, while the euro rose as Spanish and Italian bonds advanced before the European Central Bank meets Oct. 4. The Frankfurt-based ECB will keep its main refinancing rate unchanged at a record low 0.75 percent at this week’s meeting and will reduce it by the end of the year, a Bloomberg survey of economists forecast.
Australia’s dollar slid to a three- week low against its U.S. peer after the Reserve Bank of Australia unexpectedly cut its benchmark interest rate. RBA Governor Glenn Stevens and his board cut Australia’s overnight cash-rate target by a quarter-percentage point to 3.25 percent, the central bank said in a statement in Sydney today. It’s the lowest level since 2009.
New Zealand’s dollar gained versus most major peers after a report showed commodity export prices advanced last month, buoying the currency. ANZ National Bank Ltd.’s price index advanced 3.5 percent to 263 in September, its highest level since April.
Spanish Prime Minister Mariano Rajoy said he has no plans to request a bailout soon, fending off mounting speculation that a bid was near.
Asked at a press conference in Madrid today if a bailout request was imminent, Rajoy said: “No.”
Rajoy is weighing the terms of a Sept. 6 proposal by the European Central Bank President to buy bonds of cash-strapped nations including Spain if they make for a formal aid request from the euro region’s government-run rescue funds. Reuters news agency yesterday reported that Spain is ready to seek a bailout as soon as this weekend.
EUR/USD $1.2875, $1.2900, $1.2935, $1.2950, $1.3000, $1.3050
USD/JPY Y77.90, Y78.05, Y78.60
USD/CHF Chf0.9300
GBP/USD $1.6000, $1.6150, $1.6200
EUR/GBP stg0.7915
AUD/USD $1.0300, $1.0390, $1.0450, $1.0500
AUD/JPY Y81.00
EUR/SEK Sek8.5000Data
00:00 China Bank holiday -
01:30 Japan Labor Cash Earnings, YoY August -1.2% -0.9% 0.2%
04:30 Australia Announcement of the RBA decision on the discount rate - 3.50% 3.50% 3.25%
04:30 Australia RBA Rate Statement -
06:00 United Kingdom Nationwide house price index September +1.3% +0.2% -0.4%
06:00 United Kingdom Nationwide house price index, y/y September -0.7% -0.6% -1.4%
06:30 Australia RBA Commodity prices, y/y September -13.7% -14.9%
08:30 United Kingdom PMI Construction September 49.0 50.0 49.5
09:00 Eurozone Producer Price Index, MoM August +0.4% +0.6% +0.9%
09:00 Eurozone Producer Price Index (YoY) August +1.8% +2.6% +2.7%
The euro rose, recovering with the recent three-week low against the dollar amid growing signs that Spain was prepared to ask for help. But uncertainty about the timing of a negative impact on investor sentiment, which also causes the bulk sale of foreign currency.
Another risk factor is the rating agency Moody, which may soon revise the rating of Spain.
The Australian dollar fell today to a four-week low against the dollar and fell against the euro after the country's central bank cut interest rates by a quarter point, and leave room for further easing of monetary policy.
The pound rose for the first time in three days against the dollar as a report showed that the UK construction index declined at a slower pace in September.
Sensor construction activities, based on a review of Markit and the Chartered Institute of Purchasing and Supply, rose to 49.5 in September from 49 the previous month, while analysts expect the growth rate to the level of 49.9.
Sterling rose against the dollar even after a report showed that house prices in the UK fell in September. The average price of a house fell by 0.4 percent in August, and by 1.4% compared to last year.
EUR / USD: the pair decreased to $ 1.2880, then rose to $ 1.2930
GBP / USD: pair rose to $ 1.6170, then dropped to $ 1.6133 and is currently trading at $ 1.6145
USD / JPY: the pair is trading with an increase, setting all-time high at Y78.22
At 23:30 GMT Australia will index services from AIG in September.
EUR/USD
Offers $1.3048, $1.2990/300, $1.2970/80, $1.2920/25
Bids $1.2880, $1.2860/50, $1.2835/30
AUD/USD
Offers $1.0400, $1.0350, $1.0315/20
Bids $1.0290/80, $1.0250, $1.0200
GBP/USD
Offers $1.6310, $1.6215/25, $1.6200/10, $1.6175
Bids $1.6085/80, $1.6060/50, $1.6030/20, $1.6000
EUR/GBP
Offers stg0.8070/80, stg0.8035/45, stg0.8015/20, stg0.8005
Bids stg0.7945/40, stg0.7885/80, stg0.7860/50
EUR/JPY
Offers Y102.20, Y102.00, Y101.50, Y101.20
Bids Y100.40, Y100.20, Y100.00, Y99.80, Y99.65/60
USD/JPY
Offers Y79.00, Y78.70, Y78.50, Y78.40
Bids Y77.80/70, Y77.50, Y77.40/35, Y77.20
EUR/USD $1.2875, $1.2900, $1.2935, $1.2950, $1.3000, $1.3050
USD/JPY Y77.90, Y78.05, Y78.60
USD/CHF Chf0.9300
GBP/USD $1.6000, $1.6150, $1.6200
EUR/GBP stg0.7915
AUD/USD $1.0300, $1.0390, $1.0450, $1.0500
AUD/JPY Y81.00
EUR/SEK Sek8.5000
Data:
01:30 Japan Labor Cash Earnings, YoY August -1.2% -0.9% 0.2%
04:30 Australia Announcement of the RBA decision on the discount rate - 3.50% 3.50% 3.25%
04:30 Australia RBA Rate Statement -
The dollar weakened versus most of its 16 major counterparts on speculation signs of weakness in U.S. employment will encourage the Federal Reserve to sustain monetary stimulus that tends to debase the currency.
The greenback fell after Fed Chairman Ben S. Bernanke yesterday defended the central bank’s unprecedented bond buying.
Demand for the 17-nation euro was limited before data forecast to show retail sales in the currency bloc decreased for a second month and ahead of an Oct. 4 meeting of the European Central Bank.
Australia’s dollar dropped to the lowest level in more than three weeks after the Reserve Bank cut interest rates.
The yen slid versus its main peers as Asian stocks gained.
EUR / USD: during the Asian session, the pair rose to a high of $ 1.2918.
GBP / USD: during the Asian session, the pair rose to a high of $ 1.6163.
USD / JPY: during the Asian session, the pair rose to the level of Y78.17
Tuesday at 06:00 GMT Britain will present the house price index from Nationwide in September. At 06:30 GMT Australia will price index for raw materials from the RBA in September. At 07:00 GMT in Spain becomes aware of changes in the number of unemployed in September. At 08:30 GMT Britain publishes the PMI index for the construction sector in September. At 09:00 GMT Eurozone will release the producer price index for August. At 09:30 GMT in the UK will hold placement of 10-year bonds. At 20:30 GMT the U.S. are data on changes in the volume of crude oil, according to API.
Yesterday the euro gained from a three-week low versus the dollar as a U.S. manufacturing gauge unexpectedly rose and Spain’s latest budget and banking measures spurred bets the euro region is moving closer to containing its debt crisis. The Institute for Supply Management’s U.S. index of U.S. manufacturing rose to 51.5 in September from 49.6 a month earlier, the Tempe, Arizona-based group said today. A Bloomberg survey projected a reading of 49.7 for September. The dividing line between expansion and contraction is 50.
The 17-member currency strengthened versus all of its 16 most-traded peers after Moody’s Investors Service said Spain’s bank recapitalization is positive for the nation’s credit rating.
A gauge of European manufacturing based on a survey of purchasing managers was 46.1, above an initial estimate of 46 on Sept. 20, Markit said today. The index has held for 14 months below 50, indicating contraction.
Australia’s dollar touched the lowest level in more than a year against its New Zealand counterpart before the larger nation’s Reserve Bank holds a policy meeting tomorrow.
The Dollar Index, which IntercontinentalExchange Inc. uses to track the currency against those of six U.S. trading partners, fell 0.2 percent to 79.814 after rising earlier to 80.147, the highest since Sept. 11.
Bernanke said Fed policy makers “expect that a highly accommodative stance of monetary policy will remain appropriate for a considerable time after the economy strengthens.” The Fed’s forecast to hold the main interest rate near zero until at least mid-2015 “doesn’t mean that we expect the economy to be weak through” that year, he said in the text of a speech in Indianapolis.
Prospects for global growth have deteriorated
Prospects for economic growth next year will hurt
The balance of risks to the global economy shifted in a negative direction
Inflation will meet the target level
China's economic growth slowed
The Board pointed to the decline in export prices, the deterioration of the global economic outlook
Uncertainty surrounds China's prospects
The situation in the Australian labor market has deteriorated in recent months
Prices for key commodities have fallen dramatically
It takes time to change policy impacts on the economies
Terms of trade fell by more than 10% from the peak of 2011
(pare/closed(00:00 GMT +02:00)/change, %)
EUR/USD $1,2886 -0,22%
GBP/USD $1,6129 -0,65%
USD/CHF Chf0,9383 +0,14%
USD/JPY Y77,99 +0,47%
EUR/JPY Y100,51 +0,27%
GBP/JPY Y125,79 -0,17%
AUD/USD $1,0355 -0,87%
NZD/USD $0,8278 -0,43%
USD/CAD C$0,9819 +0,18%
00:00 China Bank holiday -
01:30 Japan Labor Cash Earnings, YoY August -1.2% -0.9% 0.2%
04:30 Australia Announcement of the RBA decision on the discount rate - 3.50% 3.50%
04:30 Australia RBA Rate Statement -
06:00 United Kingdom Nationwide house price index September +1.3% +0.2%
06:00 United Kingdom Nationwide house price index, y/y September -0.7% -0.6%
06:30 Australia RBA Commodity prices, y/y September -13.7%
07:00 United Kingdom Halifax house price index September -0.4% +0.2%
07:00 United Kingdom Halifax house price index 3m Y/Y September -0.9% -0.9%
08:30 United Kingdom PMI Construction September 49.0 50.0
09:00 Eurozone Producer Price Index, MoM August +0.4% +0.6%
09:00 Eurozone Producer Price Index (YoY) August +1.8% +2.6%
23:30 Australia AIG Services Index September 42.4
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