Analytics, News, and Forecasts for CFD Markets: currency news — 07-02-2013.

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07.02.2013

20:00

U.S.: Consumer Credit , December 14.6 (forecast 13.2)

19:22

American focus: The euro fell

The euro fell the most since July against the dollar after European Central Bank President Mario Draghi said the recent strength of the currency creates a concern that inflation will slow.

The 17-nation euro declined versus all but two of 16 major counterparts as Draghi said after a policy meeting in Frankfurt that the risk to the region’s growth remains on the “downside.”

There are downside risks to inflation “stemming from weaker economic activity and, more recently, the appreciation of the euro exchange rate,” according to a statement of opening remarks from Draghi placed on the ECB’s website. The central bank kept its benchmark rate at a record-low 0.75 percent today.

Draghi said the euro’s exchange rate is in line with its long-term average, though officials will monitor it in case a “sustained” appreciation alters the ECB’s assessment of risks to price stability. Germany’s two-year note yield fell four basis points, or 0.04 percentage point, to 0.17 percent.

The pound rose for a second day versus the euro and the dollar after Carney, the Bank of Canada governor who succeeds Bank of England Governor Mervyn King in July, told lawmakers in London that current monetary policy may be enough to help the economy.

The central bank left its benchmark interest rate at a record-low 0.5 percent and its asset-purchase target unchanged at 375 billion pounds ($589 billion) at a policy meeting today.

New Zealand’s dollar dropped for a second day against the U.S. currency after the statistics bureau said payrolls fell 1 percent in the final three months of 2012. The workforce participation rate declined to the lowest in eight years.

18:25

European stocks close

European stocks were little changed as France and Spain sold debt, while European Central Bank President Mario Draghi said that economic recovery should begin later this year amid a continued accommodative policy.

The ECB left its benchmark rate at a record low of 0.75 percent following a meeting of policy makers in Frankfurt today. Draghi said the combined economy of the 17 nations that use the euro will begin to recover later this year because the absence of inflation risks will allow the ECB to leave interest rates at their record low.

In the U.K., Bank of England officials refrained from adding further stimulus to aid the economy and held its interest rate unchanged at 0.5 percent. The BOE panel led by the current governor, Mervyn King, left its target for bond purchases at 375 billion pounds ($588 billion). All 43 economists in a Bloomberg survey had forecast no change.

France sold 7.98 billion euros ($11 billion) of government debt and Spain raised more than its maximum target at a bond auction. Yields climbed, compared with the most recent sales.

National benchmark indexes declined in 12 of the 18 western-European markets today. Germany’s DAX advanced 0.1 percent, while the U.K.’s FTSE 100 fell 1.1 percent. France’s CAC 40 lost 1.2 percent, erasing its gain for the year.

Vodafone gained 0.9 percent to 171.9 pence after the world’s second-biggest mobile-phone operator repeated its forecast that adjusted operating profit for the year through March will be in the upper half of a range of 11.1 billion pounds to 11.9 billion pounds. Analysts had estimated 11.6 billion pounds.

Sanofi declined 4 percent to 66.60 euros after projecting that earnings per share may drop as much as 5 percent this year as generic competition to its Plavix blood thinner limits revenue in the U.S. Analysts had predicted that earnings would slip 0.2 percent.

Alcatel-Lucent SA climbed 4.9 percent to 1.23 euros after its chief executive officer announced he will leave. The stock earlier rallied as much as 11 percent, as Chief Executive Officer Ben Verwaayen stepped down after his 4 1/2-year-long attempt to turn around the phone-equipment maker failed. The company reported a fourth-quarter net loss of 1.37 billion euros and as it booked a one-off impairment charge of 1.4 billion euros. Verwaayen will remain in place until the board finds a replacement.

Daimler AG gained 2.8 percent to 44.21 euros after the world’s third-biggest maker of luxury vehicles forecast that group revenue and deliveries of Mercedes-Benz cars will increase in 2013.

15:00

United Kingdom: NIESR GDP Estimate, January 0.0%

13:45

Orders

EUR/USD $1.3350, $1.3400, $1.3500, $1.3615, $1.3650, $1.3750

USD/JPY Y92.50, Y93.00, Y93.50, Y94.00, Y94.10

GBP/USD $1.5630, $1.5700, $1.5715

USD/CHF Chf0.9000

AUD/JPY Y95.25