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Analytics, News, and Forecasts for CFD Markets: currency news — 03-09-2012.
EUR/USD $1.2450, $1.2500, $1.2525, $1.2535, $1.2550, $1.2585, $1.2615, $1.2640
USD/JPY Y78.50, Y79.00
GBP/USD $1.5850
AUD/USD $1.0240, $1.0280, $1.0300, $1.0330, $1.0350
E4.001bln 3-month BTF, avg yield -0.01% (-0.013%), cover 3.11 (2.21)
- E1.601bln 6-month BTF, avg yield -0.005% (-0.009%), cover 3.58 (2.69)
- E1.196bln 12-month BTF, avg yield 0.005% (0.005%), cover 4.24 (2.5)
Data
01:00 China Non-Manufacturing PMI August 55.6 56.3
01:30 Australia Retail sales (MoM) July +1.0% +0.3% -0.8%
01:30 Australia Retail Sales Y/Y July +4.1% +3.5%
01:30 Australia ANZ Job Advertisements (MoM) August -0.8% -2.3%
01:30 Australia Company Operating Profits Quarter II -4.0% +1.2% -0.7%
02:30 China HSBC Manufacturing PMI (finally) August 47.6 47.6
06:30 Australia RBA Commodity prices, y/y August -9.8% -13.7%
07:15 Switzerland Retail Sales Y/Y July +3.7% +4.5% +3.2%
07:30 Switzerland Manufacturing PMI August 48.6 49.2 46.7
07:50 France Manufacturing PMI (finally) August 46.2 46.2 46.0
07:55 Germany Manufacturing PMI (finally) August 45.1 45.1 44.7
08:00 Eurozone Manufacturing PMI (finally) August 45.3 45.3 45.1
08:30 United Kingdom Purchasing Manager Index Manufacturing August 45.4 46.2 49.5
In today's trading the euro traded in a narrow range against the U.S. dollar in relation to the output in the U.S. and Canada. Against this background, the market activity is quite low.
The yen rose against higher-yielding currencies such as the Australian and New Zealand dollar as signs of a global economic downturn caused demand for safe assets.
Japan's currency strengthened against 13 of its 16 major counterparts after a report showed the euro zone, that index of business activity in the manufacturing sector declined in August. Today revealed a reduction in the activity index non-manufacturing sector of China.
The Australian dollar fell to a five-week low against the U.S. dollar after retail sales declined. Federal Reserve Chairman Ben Bernanke said last week that we should not exclude stimulate growth.
The pound rose against the euro and the dollar after data showed that the level of production in the UK fell less than economists forecast.
EUR/USD: during the European session varies in a narrow range
GBP/USD: pair rose sharply, updating the Friday's high
USD/JPY: pair dropped to the lowest level on Friday, and then step back a little and is now trading at Y78.30
At 23:01 GMT the UK will monitor BRC retail sales for August. Canada and the United States celebrate Labor Day.
EUR/USD
Offers $1.2650, $1.2625, $1.2600
Bids $1.2555/50, $1.2520/15, $1.2510/00
GBP/USD
Offers $1.5980, $1.5950, $1.5930/35, $1.5900
Bids $1.5830, $1.5820, $1.5800, $1.5765
AUD/USD
Offers $1.0400, $1.0380/90, $1.0350, $1.0300, $1.0270/80
Bids $1.0225, $1.0200, $1.0170, $1.0150
USD/JPY
Offers Y78.90, Y78.80, Y78.60, Y78.50
Bids Y77.80, Y77.50
EUR/JPY
Offers Y99.45/50, Y99.00, Y98.80
Bids Y98.00, Y97.85/80, Y97.75/70, Y97.50
EUR/GBP
Offers stg0.8000, stg0.7980, stg0.7950
Bids stg0.7890, stg0.7875/70, stg0.7860/50Economic uncertainty in the euro zone is very concerned
Franc carries the risk of deflation
Franc - a significant threat to the Swiss economy
The minimum limit for the euro / franc - the right policy
- While the need to maintain a minimum limit for the euro / franc
EUR/USD $1.2450, $1.2500, $1.2525, $1.2535, $1.2550, $1.2585, $1.2615, $1.2640
USD/JPY Y78.50, Y79.00
GBP/USD $1.5850
AUD/USD $1.0240, $1.0280, $1.0300, $1.0330, $1.0350
01:00 China Non-Manufacturing PMI August 55.6 56.3
01:30 Australia Retail sales (MoM) July +1.0% +0.3% -0.8%
01:30 Australia Retail Sales Y/Y July +4.1% +3.5%
01:30 Australia ANZ Job Advertisements (MoM) August -0.8% -2.3%
01:30 Australia Company Operating Profits Quarter II -4.0% +1.2% -0.7%
02:30 China HSBC Manufacturing PMI (finally) August 47.6 47.6
06:30 Australia RBA Commodity prices, y/y August -9.8% -13.7%
The yen strengthened against most of its 16 major counterparts as signs of a global economic slowdown boosted demand for safer assets. Japan’s currency gained for a third-day against the dollar before U.S. data this week forecast to show factory activity and hiring remained weak. The Institute for Supply Management’s manufacturing index was probably at 50 in August, according to the median estimate of economists surveyed by Bloomberg News before the Tempe, Arizona-based group releases its figures tomorrow. It was at 49.8 in July, below the level of 50 that marks the dividing line between expansion and contraction.
Demand for the greenback was limited after Federal Reserve Chairman Ben S. Bernanke said last week that a third round of bond purchases, or quantitative easing, shouldn’t be ruled out. Bernanke told central bankers and economists at the Kansas City Fed’s annual symposium in Jackson Hole, Wyoming that “nontraditional policies” shouldn’t be ruled out if economic conditions warrant them. Speaking on Aug. 31, he emphasized that a new round of bond purchases is an option, and repeated the Federal Open Market Committee’s last statement that the central bank “will provide additional policy accommodation as needed” to spur growth.
Australia’s currency fell to a five-week low after the nation’s retail sales unexpectedly declined and a private report showed China’s manufacturing contracted. Australian retail sales declined 0.8 percent in July from the previous month, the government said today. That compares with the 0.2 percent gain predicted in a Bloomberg survey.
EUR/USD: during the Asian session, the pair traded in the range of $1.2555-85.
GBP/USD: during the Asian session the pair fell to $ 1.5850.
USD/JPY: during the Asian session the pair fell to the Friday's low.
European data starts at 0700GMT with car registrations data from France, but data also includes the final manufacturing PMI data from the main European states for July. This includes Spain at 0713GMT, Italy at 0743GMT, France at 0748GMT, Germany at 0753GMT and the main EMU data at 0758GMT. US markets remain closed for the Labor Day holiday on Monday. The UK releases the Markit/CIPS Manufacturing PMI at 0830GMT.
On Friday the Dollar Index fell to a more than three-month low after Federal Reserve Chairman Ben S. Bernanke said he wouldn’t rule out further bond purchases to boost growth and reduce unemployment, which he called a “grave concern.”
The currency fell against all but one of its 16 most-traded peers after Bernanke told central bankers and economists at an annual forum in Jackson Hole, Wyoming, that “nontraditional policies” shouldn’t be ruled out if economic conditions warrant. The dollar also weakened as reports showed business activity in the U.S. expanded more slowly this month and demand for U.S. capital goods dropped in July.
The pound is set for a monthly gain versus the greenback as a report showed U.K. house prices rose in August, easing concern that the recession is worsening.01:00 China Non-Manufacturing PMI August 55.6 56.3
01:30 Australia Retail sales (MoM) July +1.0% +0.3% -0.8%
01:30 Australia Retail Sales Y/Y July +4.1% +3.5%
01:30 Australia ANZ Job Advertisements (MoM) August -0.8% -2.3%
01:30 Australia Company Operating Profits Quarter II -4.0% +1.2% -0.7%
02:30 China HSBC Manufacturing PMI (finally) August 47.6 47.6
06:30 Australia RBA Commodity prices, y/y August -9.8%
07:15 Switzerland Retail Sales Y/Y July +3.7% +4.5%
07:30 Switzerland Manufacturing PMI August 48.6 49.2
07:50 France Manufacturing PMI (finally) August 46.2 46.2
07:55 Germany Manufacturing PMI (finally) August 45.1 45.1
08:00 Eurozone Manufacturing PMI (finally) August 45.3 45.3
08:30 United Kingdom Purchasing Manager Index Manufacturing August 45.4 46.2
09:30 Eurozone ECB President Mario Draghi Speaks -
12:00 Canada Bank holiday -
12:00 U.S. Bank holiday -
23:01 United Kingdom BRC Retail Sales Monitor y/y August 0.1% -0.5%
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