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Analytics, News, and Forecasts for CFD Markets: currency news — 05-02-2013.
EUR/USD $1.3500, $1.3510, $1.3550, $1.3600, $1.3650
USD/JPY Y91.50, Y92.00, Y92.50, Y93.00
GBP/USD $1.5700
EUR/CHF Chf1.2300
AUD/USD $1.0340, $1.0410, $1.0450, $1.0455, $1.0500
AUD/NZD NZ$1.2450
AUD/JPY Y96.50Data
00:01 United Kingdom BRC Retail Sales Monitor y/y January +0.3% -0.5% +1.9%
00:30 Australia Trade Balance December -2.64 -0.81 -0.43
00:30 Australia House Price Index (QoQ) IV quarter +0.3% +0.3% +1.6%
00:30 Australia House Price Index (YoY) IV quarter +0.3% +0.9% +2.1%
01:45 China HSBC Services PMI January 51.7 54.0
03:30 Australia Announcement of the RBA decision on the discount rate - 3.00% 3.00% 3.00%
03:30 Australia RBA Rate Statement -
07:00 Switzerland Trade Balance December 2.90 2.74 1.00
08:50 France Services PMI (finally) January 43.6 43.6 43.6
08:55 Germany Services PMI (finally) January 55.3 55.3 55.7
09:00 Eurozone Services PMI (finally) January 48.3 48.3 48.6
09:30 United Kingdom Purchasing Manager Index Services January 48.9 49.8 51.5
10:00 Eurozone Retail Sales (MoM) December -0.1% -0.5% -0.8%
10:00 Eurozone Retail Sales (YoY) December -1.9% -1.4% -3.4%
The euro rose against the yen, reaching maximum values at the same time for the last 2.5 years, which was associated with the release of data that showed that the final purchasing managers index for the euro area services sector rose in January more than originally reported that immediately also led to increased demand for the currency. According to the final data, the composite index, which measures activity in the manufacturing sector and the service sector rose in January to a level of 48.6, which is a nine-month high, compared with a preliminary estimate at around 48.2. Recall that in December, the index stood at 47.2. Additionally, the final purchasing managers' index for the services sector rose to 48.6, up from 47.8 in December. In addition, the reading was higher than the preliminary assessment 48.3.
Meanwhile, the currency remains under pressure, as many market participants are waiting for the meeting of the European Central Bank, which announced bude decision on interest rates.
The Australian dollar fell against the dollar after the central bank said that, given the outlook for inflation, there is scope for further reductions in interest rates. However, at this meeting the RBA left rates unchanged at 3%.
The yen fell against all 16 major currencies, after the governor of the Bank of Japan Governor Masaaki Shirakawa said that he will retire earlier (March 19) than planned (April 8).
The pound strengthened against the dollar after a report showed activity in the services sector in Britain unexpectedly expanded in January, indicating at the same time that the economy can avoid a recession triple. According to data seasonally adjusted purchasing managers' index for the services sector rose in January to a level of 51.5. Note that the predicted value of this indicator should have been 49.8. Note that the number of new orders received by firms in the services sector, a marked increase during the month, helped by rising demand and improving market conditions, in spite of the bad weather conditions. Meanwhile, in line with the increase of orders, the company raised the number of personnel to the maximum value in the last six months. However, despite this positive report, the pound fell sharply, reaching a minimum value at the same session.
EUR / USD: during the European session, the pair rose to a maximum of $ 1.3568
At 15:00 GMT the U.S. publication of the composite index of ISM non-manufacturing areas in January. At 17:00 GMT in Switzerland with an address by a member of the Board of the National Bank of Switzerland Fritz Zurbrugg. At 21:30 GMT the U.S. are data on changes in the volume of crude oil according to the API.
EUR/USD
Offers $1.3635/40, $1.3600, $1.3580
Bids $1.3515/00, $1.3460/40, $1.3420, $1.3400
AUD/USD
Offers $1.0495/00, $1.0480, $1.0465/70, $1.0455/60, $1.0435/40
Bids $1.0370/60, $1.0350, $1.0330/20, $1.0300
GBP/USD
Offers $1.5895/900, $1.5870/80, $1.5840/50, $1.5830/35
Bids $1.5755/50, $1.5710/00, $1.5680, $1.5650/40, $1.5610/00
EUR/GBP
Offers stg0.8700, stg0.8670/80, stg0.8650/55, stg0.8630/35, stg0.8600/05
Bids stg0.8555, stg0.8545/40, stg0.8525/20, stg0.8500
EUR/JPY
Offers Y127.50, Y127.00, Y126.85/90, Y126.40/45
Bids Y125.05/00, Y124.85/80, Y124.45/40, Y124.05/00, Y123.80
USD/JPY
Offers Y94.25, Y93.50, Y93.30/40, Y93.25
Bids Y92.40/35, Y92.05/00, Y91.90/80, Y91.60/50
EUR/USD $1.3500, $1.3510, $1.3550, $1.3600, $1.3650
USD/JPY Y91.50, Y92.00, Y92.50, Y93.00
GBP/USD $1.5700
EUR/CHF Chf1.2300
AUD/USD $1.0340, $1.0410, $1.0450, $1.0455, $1.0500
AUD/NZD NZ$1.2450
AUD/JPY Y96.50
The euro fell the most in two weeks against the dollar as Italian and Spanish bonds slumped amid political turmoil in the euro-area’s third- and fourth-largest economies, damping demand for the shared currency. The 17-nation euro dropped versus the majority of its 16 major peers as Spanish Prime Minister Mariano Rajoy faced calls to resign after newspaper reports alleged he accepted illegal cash payments. A poll showed former Italy Premier Silvio Berlusconi closed the gap on front-runner Pier Luigi Bersani even as he appeals a four-year prison sentence for tax fraud.
Spain’s 10-year bond yield climbed as much as 23 basis points, or 0.23 percentage point, to 5.43 percent, the highest since Dec. 18. Rajoy, who said the allegations published in Spain’s biggest newspaper El Pais are unfounded, travels to Berlin to meet German Chancellor Angela Merkel.
Italian 10-year yields jumped as much as 15 basis points to 4.47 percent. The additional yield investors demand to hold the securities instead of German bunds increased for a fourth day after Prime Minister Mario Monti said the spread may widen if Berlusconi, who also is standing trial on charges he paid a minor for sex, is elected this month.
Barclays Plc raised its forecasts for the euro against the dollar to take into account gains that pushed the shared currency to the strongest level since November 2011 last week. The euro will drop to $1.32 in six months and $1.28 in a year, higher than from previous estimates of $1.26 and $1.22, strategists Raghav Subbarao and Guillermo Felices in London wrote in a note to clients.
The yen weakened beyond 93 per dollar for the first time since May 2010. European Central Bank policy makers meet this week. The ECB, which has held its main refinancing rate at 0.75 percent since July, will make no change at its next policy decision on Feb. 7. Central-bank President Mario Draghi may make more dovish remarks at the meeting without the central bank altering policy, according to analysts.
The yen fluctuated against the dollar after a record 12 straight weeks of declines as Prime Minister Shinzo Abe’s administration presses the central bank to ease monetary policy further to beat deflation. Finance Minister Taro Aso said yesterday the government is imitating his Depression-era predecessor, Korekiyo Takahashi, who told the Bank of Japan to underwrite government debt to fund deficit spending.
The pound retreated from its weakest level in 15 months against the euro, as the political turmoil, the growth yield of Spanish and Italian government bonds increased the relative attractiveness of the UK currency. Exchange rate increased, despite the fact that one of the report published today showed that activity in the UK construction sector continued to decline in January, which is fixed for the third month. Economists say that this dynamic is primarily associated with a reduction in the number of new orders. According to the data, the index of business activity in the construction sector was 48.7 in January, unchanged from the previous month. Note that this value is a minimum of six months. The data also showed that the number of new orders in the sector continued to decline in January, registering with the 8th monthly fall. However, the rate of decline was the slowest since October 2012.
00:01 United Kingdom BRC Retail Sales Monitor y/y January +0.3% -0.5% +1.9%
00:30 Australia Trade Balance December -2.64 -0.81 -0.43
00:30 Australia House Price Index (QoQ) IV quarter +0.3% +0.3% +1.6%
00:30 Australia House Price Index (YoY) IV quarter +0.3% +0.9% +2.1%
01:45 China HSBC Services PMI January 51.7 54.0
03:30 Australia Announcement of the RBA decision on the discount rate - 3.00% 3.00% 3.00%
03:30 Australia RBA Rate Statement -
The euro fell against the yen, following yesterday’s drop which was the biggest since June, amid corruption allegations against Spanish Premier Mariano Rajoy and uncertainty ahead of Italian elections this month. Spain’s Rajoy, facing opposition calls to resign amid contested reports about illegal payments, traveled to Berlin yesterday as euro-area leaders schedule a series of meetings this week ahead of a Feb. 7-8 European Union summit. Spanish bonds slumped yesterday, sending the 10-year yield up to 5.44 percent, the highest since Dec. 11.
A poll showed former Italy Premier Silvio Berlusconi closed the gap on front-runner Pier Luigi Bersani even as he appeals a four-year prison sentence for tax fraud. Voting takes place on Feb. 24-25.
The 17-nation currency halted this year’s climb against the dollar before European Central Bank policy makers meet on Feb. 7.
The yen rose against most major peers as investors bought haven assets after Asian equities slid.
Australia’s dollar slid against all of its 16 major peers after the Reserve Bank of Australia kept its benchmark interest rate unchanged at the half-century low of 3 percent. The inflation outlook gives scope for further easing, the RBA said in a statement after the decision.
EUR/USD: during the Asian session the pair fell below $1.3500.
GBP/USD: during the Asian session, the pair traded in the range of $1.5740-70.
USD/JPY: during the Asian session, the pair traded in the range of Y91.95-55.
EMU services PMI data due this morning, Spain up at 0813GMT through to EMU at 0858GMT. EMU retail sales due at 1000GMT. US non mfg ISM the interest into the afternoon (1500GMT).
(pare/closed(00:00 GMT +02:00)/change, %)
EUR/USD $1,3512 -1,06%
GBP/USD $1,5763 +0,38%
USD/CHF Chf0,9082 +0,12%
USD/JPY Y92,37 -0,53%
EUR/JPY Y124,81 -1,60%
GBP/JPY Y145,55 -0,16%
AUD/USD $1,0437 +0,35%
NZD/USD $0,8431 -0,21%
USD/CAD C$0,9986 +0,14%
00:01 United Kingdom BRC Retail Sales Monitor y/y January +0.3% -0.5%
00:30 Australia Trade Balance December -2.64 -0.81
00:30 Australia House Price Index (QoQ) IV quarter +0.3% +0.3%
00:30 Australia House Price Index (YoY) IV quarter +0.3% +0.9%
01:45 China HSBC Services PMI January 51.7
03:30 Australia Announcement of the RBA decision on the discount rate - 3.00% 3.00%
03:30 Australia RBA Rate Statement -
07:00 Switzerland Trade Balance December 2.95 2.74
08:00 United Kingdom Halifax house price index January +1.3% -0.2%
08:00 United Kingdom Halifax house price index 3m Y/Y January -0.3% +1.6%
08:50 France Services PMI (finally) January 43.6 43.6
08:55 Germany Services PMI (finally) January 55.3 55.3
09:00 Eurozone Services PMI (finally) January 48.3 48.3
09:30 United Kingdom Purchasing Manager Index Services January 48.9 49.8
10:00 Eurozone Retail Sales (MoM) December +0.1% -0.5%
10:00 Eurozone Retail Sales (YoY) December -2.6% -1.4%
15:00 U.S. ISM Non-Manufacturing January 56.1 55.2
17:00 Switzerland Gov Board Member Fritz Zurbrugg Speaks -
21:30 U.S. API Crude Oil Inventories - +4.2
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