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Analytics, News, and Forecasts for CFD Markets: currency news — 06-07-2012.
The dollar strengthened to a two-year high against the euro as investors sought safety after U.S. employers added fewer jobs in June than forecast.
Payrolls increased by 80,000 jobs after a revised gain of 77,000 in May, Labor Department data showed today in Washington. Economists projected an increase of 100,000, according to the median estimate. Private employment, which excludes government agencies, grew 84,000 in June, the weakest in 10 months.
The euro weakened earlier as Spanish industrial production adjusted for the number of working days fell 6.1 percent in May from a year earlier, after an 8.3 percent decline in April, the National Statistics Institute said in Madrid. Spain’s recession probably intensified in the second quarter as Europe’s debt crisis worsened, the central bank said on June 27.
The Spanish 10-year yield rose as much as 26 basis points, or 0.26 percentage point, to 7.04 percent after jumping 37 basis points yesterday.
The pound rose for a third day against the euro as traders bet the Bank of England’s bond-purchase program will weigh less on the currency than the policies of other central banks.
Slovenia does not plan to ask for help in the foreseeable future
ESM will be activated this summer
The question of who will succeed Juncker at the head of the Eurogroup, is still open
EUR/JPY
Offers Y100.00, Y99.65/70, Y99.50, Y99.35/40, Y98.55/60
Bids Y98.00, Y97.50, Y97.00
USD/JPY
Offers Y80.50, Y80.25, Y80.10, Y80.00
Bids Y79.50, Y79.00
AUD/USD
Offers $1.0400, $1.0350, $1.0320, $1.0290/00, $1.0265/70
Bids $1.0200, $1.0150, $1.0100
Data
05:00 Japan Leading Economic Index May 95.6 95.3 95.9
05:00 Japan Coincident Index May 96.9 95.7 95.8
07:00 Switzerland Foreign Currency Reserves June 303.8 364.9
07:15 Switzerland Consumer Price Index (MoM) June 0.0% -0.3% -0.3%
07:15 Switzerland Consumer Price Index (YoY) June -1.0% 1.0% -1.1%
08:30 United Kingdom Producer Price Index - Input (MoM) June -2.5% -2.1% -2.2%
08:30 United Kingdom Producer Price Index - Input (YoY) June +0.1% -2.2% -2.3%
08:30 United Kingdom Producer Price Index - Output (MoM) June -0.2% -0.2% -0.4%
08:30 United Kingdom Producer Price Index - Output (YoY) June +2.8% +2.4% +2.3%
10:00 Germany Industrial Production s.a. (MoM) May -2.1% +0.3% +1.6%
10:00 Germany Industrial Production (YoY) May -0.6% -1.2% +0.0%
During the European session, the euro traded in a narrow range. The pair reached the previous day, but after the release of economic data from the UK euro rose slightly. The growth did not last long and the couple retreated back to the old values
Today, market participants are influenced by yesterday's events that caused the sharp appreciation of the dollar against other currencies. Also today, the euro may affect the data from the U.S. to change the number of employed and unemployment rate for June. It is expected that the number of people employed in non-agricultural sectors will increase significantly, while the unemployment rate will remain the same
Pound during the session, fell sharply, by updating the minimum of the previous day, but after the release of data on the UK price index rate rose to the level of 1.5550. After the excitement of the news on the decline, the pound began a gradual decline and is now trading near the average of the day. The Canadian dollar rose slightly today, updating the maximum values of the previous day. Now the pair is trading near the maximum values achieved and is on the eve of release of data on unemployment and the change in the number of employees. It is expected that the unemployment rate will not change, and the number of employees will decrease.
EUR / USD: during the European session, the pair consolidated after yesterday's sharp decline and is now trading between $ 1.2364 - $ 1.2400
GBP / USD: pair dropped to 1.5505, and then gradually began to recover and is now trading near 1.5540
USD / JPY: during the session, the pair traded in a narrow band at 79.85
At 12:30 GMT, Canada will announce the change of volume of building permits issued in May. Also at this time there are data on changes in the number of employed and unemployment rate for June. At 12:30 GMT the United States will inform the unemployment rate for June. At the same time becomes aware of change in the number of people employed in non-agricultural sector, in private and in the manufacturing sector in June. The latest news from the U.S. will be information about the change in average hourly wages for June. Finish the day at 14:00 GMT Canada data on the index of the PMI Ivey (adjusted for seasonality and without) in June.
EUR/USD
Offers $1.2490/500, $1.2450, $1.2420
Bids $1.2350, $1.2325/20, $1.2300
GBP/USD
Offers $1.5620/25, $1.5600/10, $1.5580, $1.5550/55
Bids $1.5500, $1.5480/70, $1.5450
EUR/GBP
Offes stg0.8100, stg0.8080/90, stg0.8040/50, stg0.8020/25, stg0.8010, stg0.8000/05, stg0.7985
Bids stg0.7960, stg0.7950, stg0.7900, stg0.7875/70
USD/JPY
Offers Y80.50, Y80.25, Y80.10, Y80.00
Bids Y79.50, Y79.30
EUR/JPY
Offers Y100.35/40, Y100.00, Y99.65/70, Y99.50, Y99.35/40
Bids Y98.50, Y98.00
AUD/USD
Offers $1.0450, $1.0400, $1.0350, $1.0320, $1.0290/00
Bids $1.0245/40, $1.0235/30, $1.0200, $1.0150
Resistance 3: Y80.90 (50.0% FIBO Y84,20-Y77,60)
Resistance 2: Y80.60 (MA (100) for D1, May and June high)
Resistance 1: Y80.10 (July 5 high)
Current price: Y79.86
Support 1: Y79.30 (July 2 low)
Support 2: Y79.15 (June 29 low)
Support 3: Y78.80 (June 20 low)
Resistance 3: Chf0.9770 (June 1 high)
Resistance 2: Chf0.9730 (88,2% FIBO $ 0,9425 - $ 0,9770)
Resistance 1: Chf0.9715 (July 5 high)
Current price: Chf0.9701
Support 1: Chf0.9680/85 (June 28 high, session low)
Support 2: Chf0.9655 (76,4% FIBO $ 0,9465 - $ 0,9715)
Support 3: Chf0.9590/95 (50% FIBO $ 0,9465 - $ 0,9715, MA (100) and MA (200) for H1)
Resistance 3: $ 1.5660/65 (23,6% FIBO $ 1,5486 - $ 1,5720, July 3 low)
Resistance 2: $ 1.5605/15 (MA (200) for N1, 50% FIBO $ 1,5486 - $ 1,5720)
Resistance 1: $ 1.5575 (61.8% FIBO $ 1,5486 - $ 1,5720)
Current Price: $ 1.5545
Support 1: $ 1.5505/15 (session low, 88,2% FIBO $ 1,5486 - $ 1,5720)
Support 2: $ 1.5485 (June 28 low)
Support 3: $ 1.5475 (June 14-15 low)
Resistance 3: $ 1.2525/30 (50% FIBO $ 1.2365-$ 1.2695, MA(100) and MA(200) for H1)
Resistance 2: $ 1.2440/50 (23.6% at FIBO $ 1.2365-$ 1.2695, resistance line from 06/01/12 and 06/28/12)
Resistance 1: $ 1.2400 (session high, the psychological level, 11.8% FIBO $ 1.2365-$ 1.2695)
Current Price: $ 1.2378
Support 1: $ 1.2364 (session low)
Support 2: $ 1.2345 (88,2% FIBO $ 1.2290-$ 1.2740)
Support 3: $ 1.2290 (June 1 low)
EUR/USD $1.2250, $1.2300, $1.2375, $1.2400, $1.2500
USD/JPY Y79.50, Y79.75, Y80.00
GBP/USD $1.5450, $1.5600 $1.5630
EUR/GBP stg0.8000
AUD/USD $1.0200, $1.0300
AUD/JPY Y81.80
05:00 Japan Leading Economic Index May 95.6 95.3 95.9
05:00 Japan Coincident Index May 96.9 95.7 95.8
The euro headed for its biggest weekly decline in more than six months amid signs the region’s debt crisis is weighing on economic growth.
The 17-nation currency held a two-day fall against the yen before data today forecast to show industrial production in Germany and Spain declined. German industrial output probably declined 1.2 percent in May from a year ago, according to economists surveyed by Bloomberg News before the Economy Ministry in Berlin releases its figures.
The European Central Bank and the People’s Bank of China cut their benchmark borrowing costs yesterday, while the Bank of England expanded the size of its asset-purchase program. “Downside risks to the euro-area economic outlook have materialized,” ECB President Mario Draghi said yesterday after cutting the main refinancing rate by a quarter-percentage point to a record low and reducing interest on overnight deposits to zero. “Economic growth in the euro area continues to remain weak with heightened uncertainty,” he said.
Demand for yen was limited after China cut its key interest rate for the second time in a month yesterday and the Bank of England raised the target in its asset-purchase stimulus program by 50 billion pounds ($78 billion) to 375 billion pounds.
EUR / USD: during the Asian session the pair fell to yesterday’s low.
GBP / USD: during the Asian session the pair holds in range $1.5515-$1.5535.
USD / JPY: during the Asian session the pair rose to Y80.00.
There is a busy data calendar on Friday, with the main focus on the US labor market data at 1230GMT. Ahead of then, European data starts at 0645GMT with France foreign trade and government deficit data. At 1000GMT, German industrial output data for May is expected to come in at +0.2% m/m, -1.9% y/y. US data starts at 1230GMT with the main labor market data for June, where non-farm payrolls are forecast to rise by 100,000 after relatively modest readings in the previous two months. The unemployment rate is forecast to hold steady at 8.2% after rising in May.
Yesterday The euro tumbled to the lowest level in more than a month versus the dollar after the European Central Bank cut its key interest rate to a record 0.75 percent and reduced its deposit rate to zero for the first time. The euro tumbled against the dollar as Draghi said some “downside risks to the euro-area economic outlook have materialized.”
The bank refrained from announcing any additional steps to cap debt yields in Spain and Italy. Spain’s bonds slid today after borrowing costs rose as it sold 3 billion euros ($3.7 billion) of debt, adding to concern Europe has yet to resolve its debt crisis. The yield on the nation’s 10-year debt rose as much as 43 basis points, or 0.43 percentage point, to 6.84 percent, the highest since June 29.
Both South Pacific currencies gained briefly after China cut its key interest rate for the second time in a month and the BOE raised its asset-purchase target by 50 billion pounds ($78 billion) to 375 billion pounds.
The Dollar Index, which Intercontinental Exchange Inc. uses to track the U.S. currency against those of six trade partners, climbed as much as 1.4 percent, the biggest intraday jump since Nov. 9, to 82.950 after U.S. employment reports. It later traded at 82.795, up 1.2 percent.
ADP Employer Services, based in Roseland, New Jersey, said U.S. companies added 176,000 workers in June, exceeding a forecast survey for a 100,000 advance. Applications for jobless benefits fell by 14,000 last week to 374,000, the fewest since mid-May, Labor Department data showed. The Labor Department will report today that U.S. payrolls added 953,000 jobs in June, the third straight month below 100,000.
Canada’s dollar strengthened to a two-year high against Europe’s shared currency. It touched $1.2532 per euro, the strongest level since June 2010, before trading at C$1.2555, up 1.1 percent. The loonie, as the Canadian currency is nicknamed, was little changed versus the U.S. dollar at C$1.0129.
Resistance 3: Y81.45 (Apr 27 high)
Resistance 2: Y80.65 (Jun 25 high)
Resistance 1: Y80.10 (Jul 5 high)
Current price: Y79.90
Support 1: Y79.55 (Jul 5 low)
Support 2: Y79.80 (Jul 2 low)
Support 3: Y79.10 (Jun 29 low)
Resistance 3: Chf0.9850 (Dec 13 high 2010)
Resistance 2: Chf0.9770 (Jun 4 high)
Resistance 1: Chf0.9605 (Jul 4 high)
Current price: Chf0.9702
Support 1: Chf0.9685 (session low)
Support 2: Chf0.9565/80 (area of Jul 3 high and Jul 5 low)
Support 3: Chf0.9510 (Jul 3 low)
Resistance 3: $ 1.5680 (high of the European session on Jul 4)
Resistance 2: $ 1.5605/20 (area of Jul 5 highs)
Resistance 1: $ 1.5535 (session high)
Current Price: $ 1.5526
Support 1: $ 1.5485/95 (area of June 28 low and Jul 5 high)
Support 2: $ 1.5450 (Jun 12 low)
Support 3: $ 1.5400 (Jun 8 low)
Resistance 3: $ 1.2625 (Jul 3 high)
Resistance 2: $ 1.2540/55 (area of Jul 5 high and Jul 3 low)
Resistance 1: $ 1.2400 (session high)
Current Price: $ 1.2383
Support 1: $ 1.2365 (Jul 5 low)
Support 2: $ 1.2285 (Jun 1 low)
Support 3: $ 1.2200 (psychological level)
(pare/closed(00:00 GMT +02:00)/change, %)
EUR/USD $1,23 -1,11% 1,2527
GBP/USD $1,5521 -0,47% 1,5594
USD/CHF Chf0,9693 +1,09% 0,9587
USD/JPY Y79,90 +0,05% 79,86
EUR/JPY Y99,00 -1,06% 100,05
GBP/JPY Y124,00 -0,44% 124,54
AUD/USD $1,0287 -4,50% 1,0750
NZD/USD $ 0,8036 -0,04% 0,8039
USD/CAD C$1,0144 +0,16% 1,0128
05:00 Japan Leading Economic Index May 95.6 95.3
05:00 Japan Coincident Index May 96.9 95.7
07:00 Switzerland Foreign Currency Reserves June 303.8
07:15 Switzerland Consumer Price Index (MoM) June 0.0% -0.3%
07:15 Switzerland Consumer Price Index (YoY) June -1.0% 1.0%
08:30 United Kingdom Producer Price Index - Input (MoM) June -2.5% -2.1%
08:30 United Kingdom Rightmove House Price Index (YoY) June +0.1% -2.2%
08:30 United Kingdom Producer Price Index - Output (MoM) June -0.2% -0.2%
08:30 United Kingdom Producer Price Index - Output (YoY) June +2.8% +2.4%
10:00 Germany Industrial Production s.a. (MoM) May -2.2% +0.3%
10:00 Germany Industrial Production (YoY) May -0.7% -1.2%
12:30 U.S. Unemployment Rate June 8.2% 8.2%
12:30 U.S. Nonfarm Payrolls June 69 92
12:30 U.S. Average hourly earnings June +0.1% +0.2%
12:30 U.S. Average workweek June 34.4 34.4
12:30 Canada Building Permits (MoM) May -5.2% -0.7%
12:30 Canada Unemployment rate June 7.3% 7.3%
12:30 Canada Employment June 7.7 5.2
14:00 Canada Ivey Purchasing Managers Index June 60.5 55.1
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