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Analytics, News, and Forecasts for CFD Markets: currency news — 06-06-2012.
Manufacturing activity grew in most counties
Districts reported modest or moderate growth rates
Consumer spending remained unchanged or moderately increased
There is an increase in travel, tourism
Construction has grown in many districts
The situation in the real estate market shows improvement
New car sales remained strong
Lenders have reported an improvement in credit conditions
Production, exploration of energy resources grow
The euro rose for a fourth day against the yen as European Central Bank president Mario Draghi said policy makers were “ready to act” after leaving their benchmark rate at a record low. The ECB’s Draghi told a press conference in Frankfurt that officials will extend their offerings of unlimited cash to banks until the start of 2013 for periods up to three months as they endeavor to counter risks stemming from the region’s debt crisis.
The 17-nation euro strengthened to almost a one-week high against the dollar amid speculation the world’s leading economies will collaborate on a response to Europe’s debt crisis.
The dollar and yen fell against most of their major counterparts amid reduced demand for safer assets.
Australia’s dollar rose as the nation’s economic growth exceeded forecasts and investors sought higher-yielding currencies. The Australian economy expanded 1.3 percent in the first three months of this year from the fourth quarter, the Bureau of Statistics said. That’s the fastest pace since the period ended June last year.
EUR/USD $1.2300, $1.2425, $1.2500, $1.2600, $1.2650
USD/JPY Y77.50, Y78.00, Y78.25, Y79.75-80
EUR/GBP stg0.8100, stg0.8000
USD/CHF Chf0.9650
AUD/USD $0.9800, $0.9700, $0.9600
ECB STAFF: Sees 2012 HICP 2.3% to 2.5%; Mar fcst 2.1% to 2.7%; Sees 2013 HICP 1.0% to 2.2%; Mar fcst 0.9% to 2.3%
ECB STAFF: See 2012 GDP -0.5% to +0.3%; Mar fcst -0.5% to +0.3%; Sees 2013 GDP 0% to +2.0%%; Mar fcst 0.0% to +2.2%
econ outlook subject to increased downside risks
downside risks related to debt tensions, spillover
downside risks also relate to commodity prices
ECB STAFF: Sees 2012 HICP 2.3% to 2.5%; Mar fcst 2.1% to 2.7%; Sees 2013 HICP 1.0% to 2.2%; Mar fcst 0.9% to 2.3%
ECB STAFF: See 2012 GDP -0.5% to +0.3%; Mar fcst -0.5% to +0.3%; Sees 2013 GDP 0% to +2.0%%; Mar fcst 0.0% to +2.2%
econ outlook subject to increased downside risks
downside risks related to debt tensions, spillover
downside risks also relate to commodity prices
expect price stab over policy horizon;
infl expectations firmly anchored;
econ growth remains weak;
heightened uncertainty.
expect price stab over policy horizon;
infl expectations firmly anchored;
econ growth remains weak;
heightened uncertainty.
EUR/USD
Offers $1.2650, $1.2620, $1.2595/600, $1.2570, $1.2520
Bids $1.2470, $1.2440, $1.2410/00, $1.2385/80
GBP/USD
Offers $1.5540/55, $1.5530, $1.5500
Bids $1.5440/30, $1.5410/00, $1.5365/60, $1.5350
AUD/USD
Offers $1.0015/20, $0.9990/00, $0.9965/70, $0.9950, $0.9930/35, $0.9900
Bids $0.9830/25, $0.9800, $0.9770/65, $0.9750, $0.9715/10
USD/JPY
Offers Y80.00, Y79.55, Y79.45/50, Y79.30
Bids Y78.85/80, Y78.65/60, Y78.50, Y78.25, Y78.00
EUR/JPY
Offers Y100.00, Y99.80/85, Y99.50
Bids Y98.50, Y98.40/35, Y98.10/00, Y97.50
EUR/GBP
Offers stg0.8200, stg0.8155/60, stg0.8140/45
Resistance 3: Y80.15 (May 22 high)
Resistance 2: Y79.80 (May 25 high)
Resistance 1: Y73.30 (resistance line from Apr 2)
Сurrent price: Y79.17
Support 1: Y79.00 (МА(200) for Н1)
Support 2: Y78.50 (МА(100) for Н1)
Support 3: Y78.10 (May 5 low)
Resistance 3: Chf0.9780 (highs of 2011-2012)
Resistance 2: Chf0.9665/75 (Jun 5 high, МА (100) for Н1)
Resistance 1: Chf0.9630 (МА (200) for Н1)
Current price: Chf0.9608
Support 1: Chf0.9575 (Jun 5 low)
Support 2: Chf0.9530 (area of May 24-28 lows)
Support 3: Chf0.9490 (38,2 % FIBO Chf0,9040-Chf0,9780)
Resistance 3 : $1.5720 (area of May 24, 28-29 highs)
Resistance 2 : $1.5660 (38,2 % FIBO $1.6300-$ 1.5260)
Resistance 1 : $1.5520 (May 31 high, МА (200) for Н1)
Current price: $1.5480
Support 1 : $1.5400 (МА (200) for Н1)
Support 2 : $1.5320 (Jun 5 low)
Support 3 : $1.5260 (Jun 1 low)
Resistance 3 : $1.2670 (38,2 % FIBO $1,3280-$ 1,2280)
Resistance 2 : $1.2620 (May 24 and 28 highs)
Resistance 1 : $1.2540 (session high)
Current price: $1.2502
Support 1 : $1.2470 (МА (200) for Н1)
Support 2 : $1.2425/05 (Jun 5 low, МА (100) for Н1)
Support 3 : $1.2290 (Jun 1 low)
EUR/USD $1.2300, $1.2425, $1.2500, $1.2600, $1.2650
USD/JPY Y77.50, Y78.00, Y78.25, Y79.75-80
EUR/GBP stg0.8100, stg0.8000
USD/CHF Chf0.9650
AUD/USD $0.9800, $0.9700, $0.9600
01:30 Australia Gross Domestic Product (QoQ) Quarter I +0.4% +0.5% +1.3%
01:30 Australia Gross Domestic Product (YoY) Quarter I +2.3% +3.2% +4.3%
The dollar and yen slid versus most of their major peers as Asian stocks advanced amid speculation officials from the world’s leading economies will collaborate on a response to Europe’s crisis, damping demand for haven assets. The Dollar Index fell after Federal Reserve Bank of Chicago President Charles Evans said recent U.S. economic data warrant “extremely strong accommodation. “Finding a way to deliver more accommodation -- whether it is monetary or fiscal -- is particularly important now because delays in reducing unemployment are costly,” Chicago Fed President Evans said in a speech yesterday in New York. “Failure to act aggressively now will lower the capacity of the economy for many years to come.”
The yen slid for a third day against the dollar after Japan’s Azumi indicated that G-7 nations remain supportive of intervention to address extreme currency moves.
The euro extended a three- day gain versus the yen. Group of Seven finance ministers and central bank governors agreed to help Spain and Greece place their public finances on a sustainable footing, Japan’s Azumi told reporters in Tokyo following a conference call yesterday. European Central Bank policy makers will meet today to decide on the euro region’s borrowing costs. Out of 60 economists surveyed by Bloomberg News, 48 predict no change to the bank’s 1 percent rate. The rest forecast a decline of at least 25 basis points, or 0.25 percentage point, to 0.75 percent.
The Australian dollar strengthened versus the greenback and yen after a report today showed gross domestic product climbed 1.3 percent in the three months through March, more than twice the pace economists forecast in a Bloomberg survey. The Reserve Bank of Australia lowered its key interest rate yesterday by 25 basis points to 3.5 percent.
EUR/USD: during the Asian session the pair gain to $1.2500.
GBP/USD: during the Asian session the pair rose, updated a week’s high.
USD/JPY: during the Asian session the pair gain to a yesterday's high.
Wednesday sees UK markets return to the fray after the long Jubilee weekend. At 0830GMT, the UK sees the release of the May Markit /CIPS construction PMI data. EMU growth data (1Q 2nd estimate) is released at 0900GMT. At 1000GMT, Germany Apr industrial output data is released, followed at 1100GMT by comments from German Chancellor Angela Merkel answering questions from citizens, in Berlin age applications. The day's main event is the ECB monetary policy decision, at 1145GMT, followed by the Mario Draghi press conference at 1230GMT.
Yesterday the yen weakened against the dollar for a second day after Japanese Finance Minister Jun Azumi indicated that Group of Seven nations remain supportive of intervention to address extreme currency moves.
After reaching its weakest level against the dollar on March 15, the yen had strengthened as much as 7 percent. Japan’s Azumi said he told finance ministers a strong yen was depressing the nation’s stock market and damaging its economy by making exports more expensive.
The euro fell, ending two days of gains against the greenback, as Spanish Budget Minister Cristobal Montoro said the nation faces difficulties in accessing capital markets. Brazil’s real gained the most in a week as the central bank sold currency swap contracts.
The common currency weakened for the first time in three days against the yen after European retail sales fell more in April than economists forecast and German factory orders declined
Euro-region retail sales declined 1.0% in April, after gaining 0.3% the previous month, the European Union’s statistics office said in Luxembourg. Economists forecast a drop of 0.1%. German factory orders fell 1.9% from March, the Economy Ministry said in Berlin.
EUR/USD: yesterday the pair decreased below $1.2450.
GBP/USD: yesterday the pair traded nearby $1.5380.
USD/JPY: yesterday the pair gain to Y79.00.
Wednesday sees UK markets return to the fray after the long Jubilee weekend. At 0830GMT, the UK sees the release of the May Markit /CIPS construction PMI data. EMU growth data (1Q 2nd estimate) is released at 0900GMT. At 1000GMT, Germany Apr industrial output data is released, followed at 1100GMT by comments from German Chancellor Angela Merkel answering questions from citizens, in Berlin age applications. The day's main event is the ECB monetary policy decision, at 1145GMT, followed by the Mario Draghi press conference at 1230GMT.
Asian stocks rose amid speculation global policy makers will join the Reserve Bank of Australia in taking steps to stimulate economic growth and after a four-day drop left the regional gauge at the cheapest level this year.
Nikkei 225 8,382 +86.37 +1.04%
S&P/ASX 200 4,043.7 +58.67 +1.47%
Shanghai Composite 2,313.22 +4.67 +0.20%
Commonwealth Bank of Australia, the nation’s biggest lender by market value, advanced 1.9 percent as the central bank cut interest rates.
Canon Inc., a Japanese camera maker whose shares fell yesterday to the lowest level since April 2009, gained 3.4 percent on a stock buyback plan.
Qantas Airways Ltd. tumbled 19 percent in Sydney to a record low after forecasting full-year profit may plunge as much as 91 percent.
European stocks extended their advance, snapping a four-day decline, as the U.S. services industry expanded at a faster pace than estimated and investors speculated that policy makers will stimulate economic growth.
Finance ministers and central bank governors from the Group of Seven economies agreed to coordinate their response to the euro area’s sovereign-debt crisis on a conference call.
G-7 officials said they will work together to help Greece and Spain place their public finances on a sustainable footing, Japan’s Finance Minister, Jun Azumi, told reporters in Tokyo following the call today.
A gauge of euro-area services and manufacturing output contracted in May. A composite index based on a survey of purchasing managers in both industries dropped to 46 from 46.7 in April, London-based Markit Economics said today, compared with an estimate of 45.9 published on June 1.
National benchmark indexes climbed in 13 of the 16 western European markets that opened today. Germany’s DAX fell 0.2 percent, while the Swiss Market Index was little changed. France’s CAC 40 advanced 1.1 percent.
CaixaBank added 2.6 percent to 2.17 euros and Bankinter SA rose 2.3 percent to 2.53 euros. Spain’s Budget Minister, Cristobal Montoro, said that the European Union should provide financial aid to the banks.
Telekom Austria AG surged 4.3 percent to 7.57 euros after News Magazine reported that Carlos Slim, the world’s richest man, has acquired a 4.1 percent stake in the company.
The Standard & Poor’s 500 Index rose, amid the cheapest valuation in six months, after an unexpected increase in a measure of service industries and as a report said Europe’s bailout fund was preparing a credit line for Spain.
Equities reversed early losses today as the Institute for Supply Management’s index of non-manufacturing businesses, which covers about 90 percent of the economy, unexpectedly rose to 53.7 last month from April’s 53.5. The median forecast of 75 economists projected 53.4. Finance ministers and central bank governors from the world’s leading economies agreed to coordinate their response to Europe’s crisis on a conference call that dealt with Spain and Greece.
Spain called for outside support for the first time to battle the financial crisis as Budget Minister Cristobal Montoro said European institutions should help shore up the nation’s lenders. JPMorgan (JPM) climbed 3.2 percent to $31.99. Hewlett-Packard (HPQ), the world’s largest personal-computer maker, rose 2.9 percent to $21.68.
SanDisk Corp. surged 5.5 percent to $33.41. The company, which makes memory chips used in mobile devices, was rated outperform in new coverage at Pacific Crest Securities.
Starbucks Corp. dropped 2.8 percent to $52.41. The world’s largest coffee-shop operator agreed to buy Bay Bread LLC for $100 million in cash, making its largest acquisition to further expand its offering of food with pastries and sandwiches.
Resistance 3: Y79.65 (May 29 high)
Resistance 2: Y79.30 (May 28-29 low)
Resistance 1: Y79.15 (May 31 high)
The current price: Y78.93
Support 1: Y78.60 (session low)
Support 2: Y78.00/10 (area of Jun 4-5 low)
Support 3: Y77.65 (Jun 1 low)
Resistance 3 : $1.5615 (high of the American session on May 30)
Resistance 2 : $1.5525 (May 31 high)
Resistance 1 : $1.5440 (Jun 1 high)
The current price: $1.5429
Support 1 : $1.5370 (session low)
Support 2 : $1.5320 (Jun 5 low)
Support 3 : $1.5265 (Jun 1 low)
Resistance 3 : $1.2620/25 (area of May 24-28 highs)
Resistance 2 : $1.2575 (May 29 high)
Resistance 1 : $1.2540 (Jun 5 high)
The current price: $1.2513
Support 1 : $1.2470 (high of the American session on Jun 5)
Support 2 : $1.2385/05 (area of Jun 4-5 low)
Support 3 : $1.2285 (Jun 1 low)
(pare/closed(00:00 GMT +02:00)/change, %)
EUR/USD $1,2450 -0,35%
GBP/USD $1,5375 -0,04%
USD/CHF Chf0,9644 +0,33%
USD/JPY Y78,55 +0,28%
EUR/JPY Y98,04 +0,17%
GBP/JPY Y121,06 +0,48%
AUD/USD $0,9744 +0,28%
NZD/USD $0,7564 +0,11%
USD/CAD C$1,0378 -0,15%
01:30 Australia Gross Domestic Product (QoQ) Quarter I +0.4% +0.5%
01:30 Australia Gross Domestic Product (YoY) Quarter I +2.3% +3.2%
07:00 United Kingdom Halifax house price index May -2.4%
07:00 United Kingdom Halifax house price index 3m Y/Y May -0.5%
08:30 United Kingdom PMI Construction May 55.8 54.7
09:00 Eurozone GDP (QoQ) (revised) Quarter I -0.3% 0.0%
09:00 Eurozone GDP (YoY) (revised) Quarter I +0.7% 0.0%
10:00 Germany Industrial Production s.a. (MoM) April +2.8% -0.9%
10:00 Germany Bank holiday April +1.9% +0.9%
11:45 Eurozone ECB Interest Rate Decision - 1.00% 1.00%
12:30 Eurozone ECB Press Conference -
12:30 U.S. Nonfarm Productivity, q/q (revised) Quarter I -0.5% -0.6%
14:30 U.S. EIA Crude Oil Stocks change - +2.2
18:00 U.S. Fed's Beige Book -
23:00 U.S. FOMC Member Yellen Speaks -
23:01 United Kingdom BRC Retail Sales Monitor y/y May -3.3% +0.7%
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