Analytics, News, and Forecasts for CFD Markets on the Topic: currency news for: 3 February 2012

19:39

The dollar gained, recovering from an almost postwar low against the yen, after U.S. employers added more jobs than forecast, damping speculation the Federal Reserve will add another round of asset purchases to spur growth. Nonfarm payrolls rose by 243,000, after a revised 203,000 gain in December, the Labor Department reported today in Washington. The unemployment rate fell to 8.3 percent. Data this year have signaled the U.S. economy is recovering at a quickening pace. Manufacturing grew in January at the fastest pace in seven months, the Institute for Supply Management reported Feb. 1. Consumer confidence rose last month to the highest level in almost a year, according to a Thomson Reuters/University of Michigan index published Jan. 27.
The Japanese currency dropped, after trading within one yen of its post-World War II high versus the dollar, reducing speculation the nation will intervene in the currency market to stem its appreciation. Japan’s Finance Minister Jun Azumi has said he will take decisive steps against one-sided moves in the yen if needed. The currency’s level doesn’t reflect economic fundamentals, and falling U.S. interest rates are increasing speculative yen buying, he told reporters in Tokyo.
The euro erased losses after the European Central Bank was said to be considering using its bond holdings to bolster Greece’s next rescue program and support efforts to contain the sovereign-debt crisis, according to three euro-region officials. The 17-nation shared currency headed for a weekly decline against 15 of its 16 most-traded peers as finance ministers from the euro region’s top-rated countries, meeting in Berlin, didn’t discuss a higher public sector contribution to a second aid program for Greece, reflecting reluctance to place bigger burdens on their taxpayers.

18:56

European stocks close:

European stocks rose for a fourth day, extending a six-month high, after a report showed that the U.S. economy added more jobs last month than economists had predicted and the unemployment rate unexpectedly retreated.
European stocks extended their advance after a report showed the U.S. economy added 243,000 jobs in January. Employers hired an extra 203,000 people in December. The release also showed that the jobless rate retreated to 8.3 percent, its lowest level since February 2009.
A report showed that services industries in the U.K. unexpectedly increased last month. The measure of activity rose to 56 in January from 54 in December, according to a statement from Markit Economics and the Chartered Institute of Purchasing and Supply. That beat the average economist estimate for a reading of 53.3.
National benchmark indexes climbed in every western- European market today except Greece. The U.K.’s FTSE 100 Index added 1.8 percent. France’s CAC 40 Index gained 1.5 percent and Germany’s DAX Index advanced 1.7 percent.
Temenos surged 16 percent to 19.90 Swiss francs, its biggest rally since November 2008, after Misys said it has held talks with the Swiss software maker about an all-share merger. In a separate statement, Temenos said it is “evaluating its strategic options.” Misys gained 1.2 percent to 329.5 pence in London trading.
Admiral jumped 7.9 percent to 1,038 pence, its biggest jump since January 2009. The U.K. car insurer that owns the confused.com website rose the most since January 2009 after saying it has extended its reinsurance partnerships, without increasing its costs.
Daimler AG, the carmaker that makes 24 percent of its sales in the U.S., climbed 3.1 percent to 45.46 euros following the U.S. jobs report.
Volvo AB rose 4.4 percent to 94.70 kronor after the world’s second-largest truckmaker reported fourth-quarter earnings before interest and taxes that increased 26 percent to 6.96 billion kronor ($1.04 billion) from 5.52 billion kronor a year earlier. The Gothenburg, Sweden-based manufacturer posted sales that jumped 18 percent.

18:00

U.S. stocks advanced

U.S. stocks advanced, extending the best start to a year for the Standard & Poor’s 500 Index since 1989, after a report showed that employment growth topped estimates and the jobless rate unexpectedly fell to 8.3 percent. Stocks and bond yields jumped as the report fueled optimism the economy is weathering the European debt crisis. The 243,000 increase in payrolls was the most since April and exceeded all forecasts. The unemployment rate dropped to the lowest since February 2009.
Financial and industrial shares led the gains among 10 groups in the S&P 500. Bank of America (ВАС) added 4.8 percent to $7.81. Caterpillar (САТ) increased 2.4 percent to $112.97. Alcoa (АА) climbed 2.4 percent to $10.67. FedEx jumped 1.4 percent to $94.04.
Genworth Financial soared 14 percent, the most in the S&P 500, to $9.18. Chief Executive Officer Michael Fraizer has scaled back the retirement-products business to conserve capital as Genworth seeks to maintain sales of U.S. mortgage coverage. The company has no plans to add more capital to the U.S. mortgage insurance operation, Fraizer said today.
Tyson Foods rose 5.3 percent to $19.61. The meat processor reported first-quarter earnings of 42 cents a share. On average, the analysts surveyed by Bloomberg estimated profit of 34 cents.
Brocade Communications Systems Inc. rose 1.2 percent to $5.90. Blackstone Group LP is studying a leveraged buyout of the company, said a person with knowledge of the situation. While Blackstone is in talks with Brocade, which has been seeking a buyer since 2009, reaching a deal may be difficult, said the person.
Estee Lauder Cos. lost 4.3 percent to $56.32. The maker of Mac cosmetics and Clinique skin care forecast third-quarter earnings of no more than 32 cents a share, before restructuring charges, missing the average analyst estimate of 41 cents.

17:35

Oil stabilized

Oil in New York trading in a narrow range against the background of the positive macroeconomic data from the U.S. and the continuing uncertainty about the debt of Greece.

The volume of production orders in the U.S. in December registered the 2nd consecutive month of growth. It was another sign that the manufacturing sector continues to recover. In December, orders rose by 1.1% compared to November's rise of 2.2%, as reported today, the Ministry of Commerce in Washington. It was funded to some analysts' forecasts, expected to grow by 1.5%. In January, factories increased employment record over the past 12 months, rate, and duration of the working week was the highest in the last 14 years, as reported today, the Ministry of Labour. U.S. companies need to replenish stocks and maintain equipment that is likely to support the level of activity in the manufacturing sector.

Nevertheless, the debt crisis in Europe could limit export growth, which creates certain risks for American manufacturing companies. The pressure on the futures continue to speculation about the role of the European Central Bank and eurozone governments in resolving the debt problem in Greece.

March futures price of U.S. light crude oil WTI (Light Sweet Crude Oil) traded in a range of 96.01 - 97.47 dollars per barrel.

16:29

Gold fell due to the strengthening dollar

Gold fell after upbeat data on the U.S. labor market, causing a strong appreciation of the dollar. As demonstrated by statistics released by the end of January in non-agricultural sectors of the U.S. economy has been created 243K jobs, well above the average forecast at 125K. The data for December were revised up to 203K with a 200K. At the same time the unemployment rate declined to the level of 8.3% from 8.5% in December.

In addition, the orders in the manufacturing sector grew in December at 1.1%, expected to grow by 1.5%, previous change was revised from 1.8% to 2.2%. Orders for durable goods, according to revised data, in December rose by 3.0% m / m, the previous change of 3.0% m / m The index of economic conditions in the ISM non-manufacturing sector in January was 56.8 points, 53.0 points was expected, the previous value of 53.0 points.

The cost of the February gold futures on the COMEX today fell to 1734.5 dollars per ounce.

15:16

Jan ISM Non-Mfg Index components

prices paid 63.5;

new orders 59.4 vs 54.6;

employment 57.4 vs 49.8.