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Analytics, News, and Forecasts for CFD Markets: currency news — 08-06-2012.
The euro weakened for a second day against the dollar as Spain was poised to become the fourth of the 17 euro countries to require emergency assistance.
The 17-nation euro fell for the first time in six days versus the yen as the currency bloc’s finance chiefs plan weekend talks on a potential Spanish aid request to shore up the nation’s lenders.
German exports, adjusted for work days and seasonal changes, slid 1.7 percent in April from a month earlier, when they gained 0.8 percent, the Federal Statistics Office in Wiesbaden said. Economists forecast a drop of 0.7 percent.
Italian output declined 1.9 percent from March, when it rose a revised 0.6 percent, the national statistics office said in Rome. Production slid 9.2 percent from a year ago on a workday-adjusted basis.
The pound dropped, snapping a two-day advance against the dollar, as report showed U.K. factory-output prices unexpectedly fell in May. The price of goods at factory gates slipped 0.2 percent from April, the first decline since December, the Office for National depreciated 0.6 percent to $1.5439.
EUR/USD $.1.2400, $1.2430, $1.2500, $1.2550, $1.2600
USD/JPY Y79.00
GBP/USD $1.5500
EUR/GBP stg0.8055
EUR/NOK Nok7.60
AUD/USD $0.99.75
AUD/CAD C$1.0250
Data:
06:00 Germany Trade Balance April 13.7 13.1 16.1
06:00 Germany Current Account April 19.8 11.0 11.2
06:45 France Trade Balance, bln April -5.7 -5.6 -5.8
08:30 United Kingdom Producer Price Index - Input (MoM) May -1.5% -1.2% -2.5%
08:30 United Kingdom Producer Price Index - Input (YoY) May +1.2% +1.2% +0.1%
08:30 United Kingdom Producer Price Index - Output (MoM) May +0.6% +0.2% -0.2%
08:30 United Kingdom Producer Price Index - Output (YoY) May +2.3% +2.3% +2.8%
08:30 United Kingdom Consumer Inflation Expectations Quarter II +3.5% +3.7%
The euro fell after reports showed German exports tumbled and Italian industrial production shrank, adding to evidence that Europe’s debt crisis is deepening across the region.
The common currency fell after Fitch Ratings cut Spain’s credit grade to within two steps of junk.
The yen and the dollar rose against most of their major peers as a drop in stocks signaled investors favoring the safest assets. Australia’s dollar slid for a second day versus the greenback even as China, the nation’s biggest trading partner, cut interest rates yesterday to spur growth.
EUR/USD: the pair fell in $1,2460 area.
GBP/USD: the pair showed low in $1,5400 area.
USD/JPY: during European session the pair was limited Y79,10-Y79,45.
EUR/USD
Offers $1.2690/700, $1.2650, $1.2630, $1.2520/30, $1.2500
Bids $1.2440, $1.2410/00, $1.2385/80, $1.2350
GBP/USD
Ofers $1.5615/25, $1.5500/10, $1.5480, $1.5450
Bids $1.5470, $1.5405/395, $1.5350
AUD/USD
Offers $1.0015, $1.0000, $0.9980/85, $0.9950, $0.9915/20, $0.9880/00
Bids $0.9800, $0.9790/85, $0.9750, $0.9700
USD/JPY
Offers Y80.00, Y79.60, Y79.50
Bids Y79.10/00, Y78.85/80, Y78.50, Y78.25/20
EUR/JPY
Offers Y100.25/30, Y100.00, Y99.85/90, Y99.60, Y99.40/50, Y99.15/20
Bids Y98.50, Y98.25/20, Y98.00, Y97.75/70, Y97.50
EUR/GBP
Offers stg0.8220/25, stg0.8200, stg0.8150/60
Bids stg0.8050/45, stg0.8035/30, stg0.8010/00, stg0.7965/60, stg0.7950
Resistance 3: Y80.60 (high of May)
Resistance 2: Y80.15 (May 22 high, МА (100) for D1)
Resistance 1: Y79.80 (May 25 and Jun 7 highs)
Current price: Y79.28
Support 1: Y78.90 (МА (200) for Н1 and МА (100) for Н1)
Support 2: Y78.60 (Jun 6 low)
Support 3: Y78.10 (May 5 low)
Resistance 3: Chf0.9780 (Jun 1 high, highs of 2011)
Resistance 3: Chf0.9675 (Jun 5 high)
Resistance 1: Chf0.9650 (session high)
Current price: Chf0.9638
Support 1: Chf0.9600 (МА (100) for Н1)
Support 2: Chf0.9510 (Jun 7 low)
Support 3: Chf0.9490 (38,2 % FIBO Chf0,9040-Chf0,9780)
Resistance 3 : $1.5660 (38,2 % FIBO $1.6300-$ 1.5260)
Resistance 2 : $1.5600 (Jun 7 high)
Resistance 1 : $1.5460 (МА (200) for Н1)
Current price: $1.5431
Support 1 : $1.5400 (session low)
Support 2 : $1.5320 (Jun 5 low)
Support 3 : $1.5265 (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 : $1.2510 (МА (100) for Н1)
Current price: $1.2463
Support 1 : $1.2450 (session low)
Support 2 : $1.2410 (Jun 5 low)
Support 3 : $1.2290 (Jun 1 low)
EUR/USD $.1.2400, $1.2430, $1.2500, $1.2550, $1.2600
USD/JPY Y79.00
GBP/USD $1.5500
EUR/GBP stg0.8055
EUR/NOK Nok7.60
AUD/USD $0.99.75
AUD/CAD C$1.0250
01:30 Australia Trade Balance April -1.59 -0.92 -0.20
01:30 Australia Home Loans April +0.3% +0.1% +0.2%
05:00 Japan Eco Watchers Survey: Current May 50.9 51.2 47.2
05:00 Japan Eco Watchers Survey: Outlook May 50.9 48.1
The yen gained versus all its major counterparts. But gains in the yen were limited against the dollar as BOJ Governor Masaaki Shirakawa and his board prepare to meet June 14-15 after the central bank missed targets for bond purchases twice in May. The disruptions to the central bank’s program coincide with increasing pressure from Japanese lawmakers for Shirakawa to step up efforts to support the economy, which is forecast to slow after it strengthened last quarter.
The Dollar Index rebounded from a near one-week low as Asian stocks dropped even after China cut interest rates for the first time since 2008 to stimulate growth. China’s one-year deposit rate and one-year lending rate will both drop by a quarter percentage point effective today, the People’s Bank of China said in a statement yesterday.
Federal Reserve Chairman Ben S. Bernanke refrained from signaling additional steps the U.S. central bank might take to spur growth, when he testified before Congress yesterday. The policy-setting Federal Open Market Committee meets June 19-20.
The so-called Aussie weakened against 14 of its 16 most- traded peers after a government report today that showed the nation’s imports outpaced exports by A$203 million ($200 million), from a revised A$1.28 billion deficit in March.
EUR/USD: during the Asian session the pair fell to $1.2500.
GBP/USD: during the Asian session the pair decreased below $1.5500.
USD/JPY: during the Asian session the pair fell, receded from a yesterday's high.
German data is expected at 0600GMT, with the releasae of the Apr trade balance (nsa/sa and first quarter labour costs. At 0830GMT with the release of May Producer Price Index. French data kicks off at 0630GMT, with the release of the May Bank of France business survey. At 0645GMT, the French April government deficit data, along with French trade data, are released.
Yesterday the yen fell against all its major counterparts after China cut its key interest rates for the first time since 2008, damping appetite for refuge assets. China’s benchmark one-year deposit rate will drop by 0.25 percentage point effective tomorrow, the People’s Bank of China said on its website. The one-year lending rate will also be cut by 0.25 percentage point, it said.
The Dollar Index pared losses as Federal Reserve Chairman Ben S. Bernanke refrained from signaling additional steps the central bank might take to spur growth, during congressional testimony. Bernanke said the economy is at risk from Europe’s debt crisis and the prospect of fiscal tightening in the U.S., while not signaling additional monetary easing.
The euro earlier touched to a two-week high versus the dollar earlier as German Chancellor Angela Merkel said the nation is ready to back euro-area financial instruments.
The pound strengthened to a one-week high against the dollar and gilts fell after the Bank of England kept its stimulus program unchanged and China cut borrowing costs to boost growth. Sterling rose versus all except one of its 16 major counterparts after a report showed U.K. services grew more in May than analysts forecast. Policy makers held the bond-purchase program at 325 billion pounds ($505 billion) and their benchmark rate at a record-low 0.5 percent.
EUR/USD: yesterday the pair showed a week’s high, however decreased later.
GBP/USD: yesterday the pair gain, touched $1.5600.
USD/JPY: yesterday the pair gain, updated a monthly high.
German data is expected at 0600GMT, with the releasae of the Apr trade balance (nsa/sa and first quarter labour costs. At 0830GMT with the release of May Producer Price Index. French data kicks off at 0630GMT, with the release of the May Bank of France business survey. At 0645GMT, the French April government deficit data, along with French trade data, are released.
Resistance 3: Y80.55 (May 16 high)
Resistance 2: Y80.15 (May 22 high)
Resistance 1: Y79.80 (May 25 high)
The current price: Y79.30
Support 1: Y78.95 (low of the American session on Jun 6)
Support 2: Y78.60 (Jun 6 low)
Support 3: Y78.00/10 (area of Jun 4-5 lows)
Resistance 3: Chf0.9675/95 (area of Jun 4-5 high)
Resistance 2: Chf0.9650 (Jun 6 high)
Resistance 1: Chf0.9595 (session high)
The current price: Chf0.9586
Support 1: Chf0.9550 (session low)
Support 2: Chf0.9510 (Jun 7 low)
Support 3: Chf0.9465 (May 23 low)
Resistance 3 : $1.2685 (May 23 high)
Resistance 2 : $1.2620/25 (area of May 24-28 highs)
Resistance 1 : $1.2575 (session high)
The current price: $1.2527
Support 1 : $1.2510 (session low)
Support 2 : $1.2440 (Jun 6 low)
Support 3 : $1.2385/05 (area of Jun 4-5 low)
(pare/closed(00:00 GMT +02:00)/change, %)
EUR/USD $1,2563 -0,11%
GBP/USD $1,5531 +0,28%
USD/CHF Chf0,9558 +0,12%
USD/JPY Y79,68 +0,54%
EUR/JPY Y100,08 +0,40%
GBP/JPY Y123,71 +0,79%
AUD/USD $0,9891 -0,26%
NZD/USD $0,7669 -0,42%
USD/CAD C$1,0278 +0,01%
01:30 Australia Trade Balance April -1.59 -0.92
01:30 Australia Home Loans April +0.3% +0.1%
05:00 Japan Eco Watchers Survey: Current May 50.9 51.2
05:00 Japan Eco Watchers Survey: Outlook May 50.9
06:00 Germany Trade Balance April 13.7 13.1
06:00 Germany Current Account April 19.8 11.0
06:45 France Trade Balance, bln April -5.7 -5.6
08:30 United Kingdom Producer Price Index - Input (MoM) May -1.5% -1.2%
08:30 United Kingdom Producer Price Index - Input (YoY) May +1.2% +1.2%
08:30 United Kingdom Producer Price Index - Output (MoM) May +0.6% +0.2%
08:30 United Kingdom Producer Price Index - Output (YoY) May +2.3% +2.3%
08:30 United Kingdom Consumer Inflation Expectations Quarter II +3.5%
12:15 Canada Housing Starts May 245 249
12:30 Canada Changing the number of employed May 58.2
12:30 Canada Unemployment rate May 7.3%
12:30 Canada Trade balance, billions April 0.4
12:30 Canada Labor Productivity Quarter I +0.7%
12:30 U.S. International trade, bln April -51.8 -49.3
14:00 U.S. Fed Chairman Bernanke Testifies -
14:00 U.S. Wholesale Inventories April +0.3% +0.5%
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