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Analytics, News, and Forecasts for CFD Markets: currency news — 08-11-2012.
The euro fell to a two-month low against the dollar after European Union finance ministers said they would postpone a decision until the revenge issue of providing financial assistance to Greece.
The single currency fell against most of its 16 major counterparts as European Central Bank President Mario Draghi said that the economic growth will remain weak. He also said that the finance ministers of the euro area will not be able to take action on Greece until the end of November, as they expect a full report on compliance with requirements.
The yen rose against all 16 major currencies, as the demand for safe assets was raised amid speculation that U.S. lawmakers will take measures that prevent a looming "fiscal cliff," which carries with it the tax increases and spending cuts.
The pound continued its yesterday's rise against the euro after the Bank of England has said it will support a program to purchase assets at 375 billion pounds ($ 599 billion). Also today, the BA decided by the level of interest rate, leaving it unchanged at 0.5%.
The Canadian dollar fell against the fact that the published data showed that the number of bookmarks new foundations were well below analysts' expectations. At the same time, it became known that the price index for new homes showed an increase in line with forecasts. Also on this momentum influenced gradual decline in demand for riskier assets.
- So far we have not seen signs of deflation
- No signs of deflation at level of EMU or member states
- Shldn't confuse welcome price adjustment with deflation
- We see price behavior in line with mid-term objectives
- Our monpol is already very accommodative
- Real int rates negative in large part of EMU
- OMT Announcement by itself produced easing of fin conds
- We stand ready to act on standard, nonstand measures
- We cannot do monetary financing for Greece
- SMP profits naturally accrue to eurosystem cenbanks
EUR/USD $1.2700, $1.2725, $1.2880, $1.2900
USD/JPY Y79.75, Y79.90, Y80.00, Y80.25, Y80.50
GBP/USD $1.6000, $1.6095, $1.6175
GBP/JPY Y130.80
USD/CHF Chf0.9400
EUR/SEK Sek8.60
AUD/USD $1.0400, $1.0450, $1.0500
06:45 Switzerland Unemployment Rate October 2.9% 3.0% 2.9%
07:00 Germany Trade Balance September 18.1 17.2 17
07:45 France Trade Balance, bln September -5.3 -5.0 -5.03
12:00 United Kingdom Asset Purchase Facility - 375 375 375
12:00 United Kingdom BoE Interest Rate Decision - 0.50% 0.50% 0.50%
12:00 United Kingdom MPC Rate Statement -
12:45 Eurozone ECB Interest Rate Decision - 0.75% 0.75% 0.75%
13:15 Canada Housing Starts October 225 215 204
13:30 Canada Trade balance, billions September -1.1 -1.4 -0.8
13:30 Canada New Housing Price Index September +0.2% +0.2% +0.2%
13:30 Eurozone ECB Press Conference -
13:30 U.S. International trade, bln September -44.2 -44.9 -41.5
13:30 U.S. Initial Jobless Claims - 363 373 355
The euro fell to a two-month low against the dollar after German exports fell sharply in September amid falling demand from the euro-zone members. It was another sign that the sovereign debt crisis, after all, reached the borders of Germany. According to the submitted data on Thursday, German exports in September fell by 2.5% compared with August, which graded the growth in the previous month. Compared to the same period of the previous year in September exports fell by 3.4% on a decline in orders from the EU. Of particular concern are the orders from the part of the countries that use the euro, which fell by 9.1% compared with the same period last year.
Earlier, the euro rose against the dollar after the Greek parliament on the eve of yet approved a new package of austerity measures. "For" voted 153 out of 300 deputies - one of the necessary conditions for obtaining the next tranche of international aid, which would allow the country again to avoid a formal bankruptcy. The next (and last) condition - the approval of the budget for 2013, which is expected at the weekend.
Euro remained unchanged against the dollar after the ECB left rates unchanged at 0.75%. Now attention is focused on the markets of the press conference of the head of the Central Bank Mario Draghi.
The pound rose against the euro and the dollar after the Bank of England refrained from increasing its asset purchase program. As expected, today the Bank of England kept interest rates at 0.5%, and the size of asset purchase program - of 375 billion pounds. The last time the rate changed March 5, 2009, and increased QE by 50 billion pounds of 5 July 2012. Minutes of this meeting will be published on 21 November, while the central bank will release 14 November inflation report.
EUR / USD: during the European session, the pair rose to $ 1.2776, and then fell to $ 1.2718
GBP / USD: during the European session the pair fell to $ 1.5928, and then rose to $ 1.6004
USD / JPY: during the European session, the pair rose to the level Y79.98
At 13:30 GMT to begin monthly press conference of the ECB. At 13:30 GMT the U.S. will trade balance for September, the number of initial claims for unemployment insurance and the number of repeated applications for unemployment benefits. At 18:10 GMT a speech head of the Bank of Canada.
EUR/USD
Offers $1.2840/60, $1.2820/25, $1.2785-800, $1.2760-70
Bids $1.2705/00, $1.2685/80, $1.2655/50, $1.2620/00
GBP/USD
Offers $1.6015/25, $1.5980
Bids $1.5900, $1.5885/80, $1.5860/50
AUD/USD
Offers $1.0500, $1.0460, $1.0445/50
Bids $1.0380, $1.0370/60, $1.0355/50, $1.0300
EUR/JPY
Offers Y102.90/00, Y102.65/70, Y102.50
Bids Y101.50, Y101.20, Y101.05/00, Y100.80
USD/JPY
Offers Y80.60, Y80.50, Y80.15/20
Bids Y79.50
EUR/GBP
Offers stg0.8100, stg0.8080, stg0.8040, stg0.8000/10
Bids stg0.7945/40
Sold E4.763bln vs target E3.5bln-E4.5bln
E992mln of 3.75% Oct 2015 Bono; bid-to-cover 2.83 vs 1.98 previous
E3.04bln of new 4.50% Jan 2018 Bono; bid-to-cover 1.57
E731mln of 5.75% July 2032 Obligaciones; bid-to-cover 2.11
Sold 3.75% Oct 2015 Bono at average yield 3.66% vs 3.96% previous
Sold new 4.50% Jan 2018 Bono at average yield 4.68%
Sold 5.75% July 2032 Obligaciones at average yield 6.328%
Yesterday, the dollar index rose to two-month high, as investors flocked to safer assets on concern that U.S. President Barack Obama will struggle to persuade Congress to avoid the so-called "financial cliff" after his historic re-election.
The euro fell to its weakest level in the last two months against the dollar after European Central Bank President Mario Draghi said that the crisis in the region affects Germany.
The U.S. currency weakened against the yen since Obama defeated Republican rival Mitt Romney, who is opposed to the current policy of the Federal Reserve System, which is based on stimulating the economy.
The euro fell against most major currencies, except the Norwegian krone against the fact that Greek lawmakers were ready to vote on the austerity measures required to receive international aid.
Also, the European Commission said that the euro zone economy is likely to grow by only 0.1% in 2013, compared to the vulnerable forecast at 1% increase. The committee lowered its forecast for growth in Germany to 0.8% from 1.7%.
Switzerland franc rose against the euro and fell against the dollar after the central bank said the country's foreign exchange reserves declined last month, which was the first time since February. Also published data showed that consumer price index rose in October, much less than expected.
00:30 Australia Unemployment rate October 5.4% 5.5% 5.4%
00:30 Australia Changing the number of employed October 14.5 0.2 10.7
05:00 Japan Eco Watchers Survey: Current October 41.2 40.6 39.0
05:00 Japan Eco Watchers Survey: Outlook October 43.5 41.7
The dollar and yen remained stronger against most major peers as investors sought refuge assets amid concern re-elected President Barack Obama and the U.S. Congress will struggle to avert the so-called fiscal cliff. The greenback remained weaker against the Japanese currency after Obama’s victory over Republican challenger Mitt Romney boosted expectations the Federal Reserve will maintain monetary stimulus.
The euro traded near a two month-low ahead of a European Central Bank meeting today after ECB President Mario Draghi said Europe’s debt crisis is affecting Germany. Draghi said at a conference in Frankfurt yesterday that while Germany has been largely insulated from difficulties elsewhere in the euro area “the latest data suggest that these developments are now starting to affect the German economy.” A report today is forecast to show exports in Europe’s largest economy declined in September. German exports, adjusted for work days and seasonal changes, probably declined 1.5 percent in September from the previous month, according to the median estimate of economists surveyed by Bloomberg. The Federal Statistics Office in Wiesbaden releases figures today.
The so-called Aussie dollar rose against most of its major peers after data showed Australian employers added more jobs in October than economists estimated. The number of people employed in Australia increased by 10,700 last month after rising a revised 15,500 in September, the statistics bureau said today. That compares with economist forecast in a Bloomberg survey of a gain of 500.
EUR / USD: during the Asian session, the pair sat down to yesterday's lows.
GBP / USD: during the Asian session, the pair traded in the range of $1.5970-95.
USD / JPY: during the Asian session, the pair sat down to yesterday's lows.
With the US election votes in and largely counted, attention refocuses on the fundamentals - although Wednesday sees a fairly light day, giving many the chance to get over a late night of election watching. The US starts clearing the bunting away early and readies for the 1100GMT release of the Nov 2 week MBA Mortgage Applications numbers are released. Late data, at 2000GMT, the September Consumer Credit numbers and the October Treasury Allotments By Class numbers will cross the wires.
(pare/closed(00:00 GMT +02:00)/change, %)
EUR/USD $1,2770 -0,34%
GBP/USD $1,5983 -0,08%
USD/CHF Chf0,9446 +0,20%
USD/JPY Y79,99 -0,45%
EUR/JPY Y102,15 -0,78%
GBP/JPY Y127,84 -0,52%
AUD/USD $1,0408 -0,25%
NZD/USD $0,8181 -1,08%
USD/CAD C$0,9967 +0,48%
00:30 Australia Unemployment rate October 5.4% 5.5% 5.4%
00:30 Australia Changing the number of employed October 14.5 0.2 10.7
05:00 Japan Eco Watchers Survey: Current October 41.2 40.6
05:00 Japan Eco Watchers Survey: Outlook October 43.5
06:45 Switzerland Unemployment Rate October 2.9% 3.0%
07:00 Germany Trade Balance September 18.3 17.2
07:45 France Trade Balance, bln September -5.3 -5.0
09:30 United Kingdom Trade in goods September -9.8 -8.9
12:00 United Kingdom Asset Purchase Facility - 375 375
12:00 United Kingdom BoE Interest Rate Decision - 0.50% 0.50%
12:00 United Kingdom MPC Rate Statement -
12:45 Eurozone ECB Interest Rate Decision - 0.75% 0.75%
13:15 Canada Housing Starts October 220 215
13:30 Canada Trade balance, billions September -1.3 -1.4
13:30 Canada New Housing Price Index September +0.2% +0.2%
13:30 Eurozone ECB Press Conference -
13:30 U.S. International trade, bln September -44.2 -44.9
13:30 U.S. Initial Jobless Claims - 363 373
18:10 Canada BOC Gov Carney Speaks -
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