Analytics, News, and Forecasts for CFD Markets: currency news — 03-01-2013.

ISM New York climbed to 54.3 in December, up from 52.5 a month ago.

The latest reading reflects a 5-month high.

"Purchase volume expanded more quickly, while employment contracted for a second time in three month," wrote the ISM.

The single currency has retreated from earlier reached lows at 1.3081 after the publication of controversial statistics on the labor market in the U.S.. In December, employment in the U.S. according to ADP increased by 215 thousand vs. 133 thousand and the previous value of 118 thousand separate report showed that the number of initial claims for unemployment benefits rose more than expected, to 372 thousand compared to 362 thousand a week earlier.

The EUR / USD ran into support at 1.3095 and is currently trading around 1.3110. Near term resistance is at $ 1.3170 (high of the European session.)

EUR/USD $1.3200, $1.3225, $1.3235, $1.3300, $1.3380

EUR/GBP stg0.8150

AUD/USD $1.0500, $1.0525

USD/JPY Y86.00, Y86.50, Y87.00

USD/CHF Chf0.9130

GBP/USD $1.6200, $1.6335

EUR/JPY Y115.00

07:00United Kingdom Nationwide house price indexDecember 0.0%+0.1%-0.1%

07:00United Kingdom Nationwide house price index, y/yDecember -1.2%-1.0%-1.0%

08:00Switzerland KOF Leading IndicatorDecember 1.501.391.28

08:30Switzerland Manufacturing PMIDecember 48.548.749.5

08:55Germany Unemployment ChangeDecember 5113

08:55Germany Unemployment Rate s.a.December 6.9%6.9%6.9%

09:00Eurozone M3 money supply, adjusted y/yNovember +3.9%+3.8%+3.8%

09:30United Kingdom PMI ConstructionDecember 49.349.648.7

09:30United Kingdom BOE Credit Conditions SurveyIV quarter

The dollar rose to its strongest level in almost three weeks against the euro on speculation U.S. policy makers will struggle to reach agreement on raising the nation’s debt limit, underpinning demand for the safest assets.

Japan’s yen appreciated at least 0.3 percent against all its 16 major counterparts amid concern the U.S. Treasury will exhaust what it called “extraordinary” measures to keep funding the government by late February or early March after the nation hit its $16.4 trillion debt ceiling on Dec. 31. The IMF said in a statement yesterday that “the economic recovery would have been derailed” without the action by the U.S. Congress.

The pound declined against the dollar as a report showed house prices fell last month, signaling the U.K.’s economic recovery will be slow. The average cost of a home in Britain slipped 0.1 percent in December, Nationwide Building Society said today. The median prediction was for prices to remain unchanged. The pound dropped 0.6 percent to $1.6151, after reaching $1.6381 yesterday, the strongest level since Aug. 30, 2011.

EUR / USD: during the European session the pair fell to a new intraday low of $ 1.3093

GBP / USD: during the European session the pair fell to a new intraday low of $ 1.6144

USD / JPY: during the European session the pair fell to a new intraday low of Y86.80

At 13:15 GMT the U.S. will change in the number of employees from ADP for December at 13:30 GMT - the number of initial claims for unemployment insurance, the number of repeated applications for unemployment benefits. At 19:00 GMT will be publication of the minutes of the Fed meeting. At 21:30 GMT the United States will change in the volume of crude oil, according to API. Finish the day at 22:30 GMT Australia data on the index of activity in the service sector of the AiG in December.

EUR/USD

Offers  $1.3280, $1.3250, $1.3235/40, $1.3200, $1.3165/70, $1.3140/50

Bids  $1.3050, $1.3015, $1.3000

GBP/USD

Offers  $1.6320, $1.6300, $1.6270/75, $1.6240/45

Bids  $1.6150, $1.6120, $1.6100, $1.6080/70

AUD/USD

Offers  $1.0600, $1.0550, $1.0520/25

Bids  $1.0465/50, $1.0450,$1.0405/00

EUR/JPY

Offers  Y116.00, Y115.50,Y115.00, Y114.85/90, Y114.40/45

Bids  Y113.00, Y113.20,Y113.00, Y112.50

USD/JPY

Offers  Y88.00, Y87.80/95, Y87.50

Bids  Y86.55/50, Y86.20, Y86.00

EUR/GBP

Offers  stg0.8200/05, stg0.8170/80, stg0.8115/20

Bids  stg0.8050, stg0.8020, stg0.8000

Q4 unsecured h'hold credit available 6.6% vs -4.2% Q3

Rise in Q4 secured hhold credit biggest in survey history

rise Q4 corp cred availability biggest in survey history

AFT sold E7.993bln vs target E7.0bln-E8.0bln

- E1.63bln of 3.75% 2019 OAT; avg yield 1.32% (1.27%),cover 2.14 (2.77)

- E1.668bln of 3.50% 2020 OAT; avg yield 1.46% , cover 1.98

- E3.53bln of 2.25% 2022 OAT; avg yield 2.07% (2.22%),cover 1.72 (1.95)

- E1.165bln of 5.75% 2032 OAT; avg yield 2.84% , cover 2.24

EUR/USD $1.3200, $1.3225, $1.3235, $1.3300, $1.3380

EUR/GBP stg0.8150

AUD/USD $1.0500, $1.0525

USD/JPY Y86.00, Y86.50, Y87.00

USD/CHF Chf0.9130

GBP/USD $1.6200, $1.6335

Despite the sharp rise in the euro against the dollar in early trading, 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 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.

00:00Japan Bank holiday-

00:00China Bank holiday-

01:00China Non-Manufacturing PMIDecember 55.656.1

The yen and dollar rose versus the euro as investors turned their focus to whether U.S. policy makers can reach an agreement to raise the nation’s debt limit.

The U.S. Treasury will probably exhaust what it called “extraordinary” measures by late February or early March to keep funding the government after the nation hit its $16.4 trillion debt ceiling on Dec. 31. The International Monetary Fund said yesterday that the U.S. economic recovery would have been derailed if the fiscal cliff issue had not been resolved. The Washington-based fund also said the U.S ought to raise the debt ceiling “expeditiously.”

ADP Research Institute may say today that companies in the U.S. added 140,000 workers in December, up from a 118,000 increase the prior month, according to the median estimate of economists surveyed by Bloomberg News. The data will be followed by a government report tomorrow projected to show payrolls rose 150,000 workers last month, the most since August.

The Japanese currency strengthened against all major counterparts amid signs it had been oversold. The yen’s 14-day relative-strength index fell to 24 against the euro and 18 versus the dollar. Readings below 30 signal that an asset price may be set to reverse course.

Japan’s markets are shut today for a holiday.

EUR/USD: during the Asian session the pair fell to $1.3125.

GBP/USD: during the Asian session the pair fell to $1.6200.

USD/JPY: during the Asian session, the pair traded in the range of Y87.10-35.

The main unemployment data from Germany is due at 0855GMT. UK data at 0700GMT sees the December House Price Index from the Nationwide, which is one of two main private sector house price surveys, the other being the Halifax - which will produce its December survey later in the month. Scheduled US data starts at 1200GMT with the weekly MBA Mortgage Index, followed at 1230GMT by Challenger Layoffs data and then at 1315GMT by the ADP National Employment Report. At 1330GMT, jobless claims are forecasted to rise 10,000 after dropping 12,000 in the previous week.

(pare/closed(00:00 GMT +02:00)/change, %)

EUR/USD$1,3192 +0,04%

GBP/USD $1,6253 +0,56%

USD/CHF Chf0,9177 +0,25%

USD/JPY Y87,34 +1,37%

EUR/JPY Y115,16 +1,35%

GBP/JPY Y141,94 +1,92%

AUD/USD $1,0503 +1,27%

NZD/USD $0,8341 +1,45%

00:00Japan Bank holiday-

00:00China Bank holiday-

01:00China Non-Manufacturing PMIDecember 55.656.1

07:00United Kingdom Nationwide house price indexDecember 0.0%+0.1%

07:00United Kingdom Nationwide house price index, y/yDecember -1.2%-1.0%

08:00United Kingdom Halifax house price indexDecember 0.0%+0.1%

08:00United Kingdom Halifax house price index 3m Y/YDecember -1.2%

08:00Switzerland KOF Leading IndicatorDecember 1.501.39

08:30Switzerland Manufacturing PMIDecember 48.548.7

08:55Germany Unemployment ChangeDecember 511

08:55Germany Unemployment Rate s.a.December 6.9%6.9%

09:00Eurozone M3 money supply, adjusted y/yNovember +3.9%+3.8%

09:30United Kingdom PMI ConstructionDecember 49.349.6

09:30United Kingdom BOE Credit Conditions SurveyIV quarter

13:15U.S. ADP Employment ReportDecember 118134

13:30U.S. Initial Jobless Claims- 350356

19:00U.S. FOMC meeting minutes-