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Analytics, News, and Forecasts for CFD Markets: currency news — 09-10-2012.
The euro fell against most major currencies, as European Central Bank President Mario Draghi said that the common currency bloc, there are risks associated with financial instability.
The yen rose against the euro for a second day after the International Monetary Fund said that the economy of the region will fall by more than predicted earlier this year.
Sterling fell against the dollar after data showed that the level of production in the UK fell more than expected.
European currency continued to fall after German Chancellor Angela Merkel met in Athens with Greek Prime Minister Antonis Samaras.
The Australian dollar rose to almost three-month low, which it reached yesterday on speculation that China, which is the largest trading partner of the country to resort to further stimulate the economy.
The Swiss currency weakened against most major currencies after the State Street Corp (STT) and Bank of New York Mellon Corp (BK) said they would charge to investors who hold their assets in Danish kroner and Swiss francs.
State Street will apply negative interest rates at 0.75% per annum with effect from 1 November for the crown, and a separate fee for the Franks. This means that the fund managers, insurance companies and pension funds have to pay the bank for the deposit of their funds in the accounts.
The dollar index (DXY), which is used to track the value of the dollar against the currencies of six U.S. partners, including the euro and yen, rose 0.6% to 80.004.
Greece is going through difficult times
Still waiting for a report "troika" in Greece
Germany and Greece should continue bilateral efforts
Greece has shown progress, reduce the budget deficit in the last few years
Germany wants to be a good partner and a real friend of Greece
Greece will succeed in spite of the difficult path of reform
Tranche of aid to Greece is key in maintaining economic
I want Greece to remain a member of the eurozone
Greece should focus on the implementation of structural reforms
EUR/USD $1.2920, $1.2960, $1.2975, $1.3000, $1.3025, $1.3050, $1.3100
USD/JPY Y78.00, Y78.25, Y78.50, Y78.80, Y79.20
EUR/JPY Y102.00, Y103.00
GBP/USD $1.6050, $1.6140
EUR/SEK Sek8.64
AUD/USD $1.0130, $1.0235, $1.0250
AUD/NZD NZ$1.2550
EUR/CAD C$1.2625
DSTA sold E2.255bln vs target E1.5bln-E2.5bln
- E2.255bln of 1.25% Jan 2018 DSL at average yield 0.861%.
France and Germany have not discussed the eurozone budget
ECB must clearly distinguish between monetary policy and supervision
Lenders are skeptical about the idea of the official debt
There were long discussions, but there is no solution for Greece
Portugal is on the right track
Data
06:45 France Trade Balance, bln August -4.3 -4.9 -5.3
07:30 Eurozone ECB President Mario Draghi Speaks -
08:00 Eurozone ECOFIN Meetings -
08:30 United Kingdom Industrial Production (MoM) August +2.9% -0.5% -0.5%
08:30 United Kingdom Industrial Production (YoY) August -0.8% -1.1% -1.2%
08:30 United Kingdom Manufacturing Production (MoM) August +3.2% -0.6% -1.1%
08:30 United Kingdom Manufacturing Production (YoY) August -0.5% -0.6% -1.2%
08:30 United Kingdom Trade in goods August -7.1 -8.3 -9.8
The euro dropped against the dollar and yen, reversing earlier gains, as European Central Bank President Mario Draghi said the common-currency region faces risks from financial instability.
ECB President Draghi, in his speech presented the European Systemic Risk Board, which must ensure the support of macro economy. He reiterated the need for financial reforms and noted that the proposal for a bank union welcomed by the Council, which should give investors confidence in the quality of bank assets. Surveillance will help to restore confidence in the financial system. Earlier, Spain's Finance Minister said that the Eurogroup endorsed the recently announced government measures, but did not discuss further changes.
The euro slid against all but two of 16 major peers tracked by Bloomberg after the International Monetary Fund also said the region’s economy will shrink this year more than previously forecast. In addition, the IMF has revised a fall forecast global growth to 3.6% in 2013 (from 3.9%), stating as a reason for "substantially increased" the risk of a more serious decline than expected.The British pound fell after the British industrial production fell more than expected. Output in the manufacturing sector of the United Kingdom in August fell more than expected, as the periods of the summer plant closures for maintenance contributed to the fall production of transport equipment. Production registered a decline of 1.1% against 3.1% in July.
In addition, the rate of the UK trade deficit in August registered a sharp increase. The total deficit of 4.169 billion from 1.705 billion in July, while the trade deficit rose to 9.844 billion from 7.337 billion the July Both values exceeded the forecasts of most analysts.
EUR / USD: the pair dropped to $ 1.2906 and then recovered to $ 1.2956
GBP / USD: the pair decreased to $ 1.5999 and then recovered to $ 1.6040
USD / JPY: the pair dropped to the level of Y78.19
At 12:15 GMT, Canada will release a number of new foundations of bookmarks for September. At 14:00 GMT the UK there are data on the volume change of the NIESR GDP in September. At 23:30 GMT Australia is to publish an index of consumer confidence from Westpac in October.
EUR/USD
Offers $1.3035-40, $1.3020/25, $1.3000/05, $1.2980
Bids $1.2880
GBP/USD
Offers $1.6170/80, $1.6140/50, $1.6120, $1.6100, $1.6070/80
Bids $1.6000, $1.5985/75
AUD/USD
Offers $1.0300, $1.0290, $1.0245/50
Bids $1.0180, $1.0170, $1.0150, $1.0130
EUR/GBP
Offers stg0.8200, stg0.8180, stg0.8160/55, stg0.8150
Bids stg0.8080/70, stg0.8025/20, stg0.8005-995
EUR/JPY
Offers Y102.80, Y102.50, Y102.35/40, Y102.00, Y101.55/60
Bids Y101.00, Y100.50, Y100.40, Y100.20
USD/JPY
Offers Y79.00, Y78.70, Y78.50
Bids Y78.25/20, Y78.00, Y77.90, Y77.50
The UK's Debt Management Office (DMO) announced Tuesday that it sold stg1.75 billion of the 4.25% June 2032 Gilt at yield 2.661%, bid-to-cover ratio of 2.12 times and tail 0.3bps.
Currently the pair is trading at $ 1.2935
PDMA sold E1.3bln; E300mln to non-comps
- E1.3bln 26-week T-bill; avg yield 4.46% (4.54%), cover 1.60 (1.95)
EUR/USD $1.2400, $1.2450, $1.2250
USD/JPY Y79.25, Y79.15, Y79.00
EUR/JPY Y98.00
AUD/USD $1.0350, $1.0570
NZD/USD $0.8100, $0.8150
Yesterday the euro broke a seven-day rise against the yen as European finance ministers meet to discuss the situation in Spain and the solution to the debt crisis in the eurozone.
The single currency fell against most major currencies after data showed that the level of German industrial production declined, adding fears that the debt crisis in Europe affects economic growth in Germany. German Chancellor Angela Merkel's visit to Greece for the first time after the start of the financial turmoil in 2009. The yen rose as investors sought safe-haven assets.
Pound continued its decline against the dollar, as a survey by Lloyds Bank showed that the assessment of the prospects of employment index fell in September to -49 from -43 in August. The pound also recorded the 7th daily decline against the euro, while showing the longest drop since November 2009. Analysts expect the pound could fall to a level of $ 1,5912-1,5900, which is the lowest rate in more than a month after he failed last week to break key resistance levels.
The yen rose against the dollar on downgrade the World Bank forecast for GDP growth for Asia Tihoookeanskogo region (excluding Japan and India) due to a slowdown in the Chinese economy. It is expected that the growth rate of the economy of the region was 7.2% in the current year, whereas previously predicted 7.6%. It is worth noting that this will be minimal increase of GDP since 2001. Moreover, the forecasts for 2013 were also up 7.6% to 8%, as reported previously.
00:30 Australia National Australia Bank's Business Confidence September -2 0
01:00 Australia RBA Assist Gov Lowe Speaks -
04:00 Japan BOJ Governor Shirakawa Speaks -
05:00 Japan BoJ monthly economic report October
05:00 Japan Eco Watchers Survey: Current September 43.6 44.2 41.2
05:00 Japan Eco Watchers Survey: Outlook September 43.6 43.5
00:00 Japan Bank holiday -
00:30 Australia ANZ Job Advertisements (MoM) September -2.3% -2.8%
The euro remained lower following a decline yesterday as the International Monetary Fund cut its growth forecast for the currency bloc and European leaders struggle to contain the region’s debt crisis. The world economy will grow 3.3 percent this year, the slowest pace since the 2009 recession and compared with the July forecast of 3.5 percent, the IMF said. The risk of a serious global slowdown is “alarmingly high,” the fund said.
The shared currency maintained a drop against the yen before data from Italy tomorrow that economists say will show the nation’s industrial production dropped by the most in more than two years. Industrial production in Italy dropped 9.7 percent in August from a year earlier, according to the median estimate of economists in a Bloomberg News survey. That would be the biggest decline since October 2009. Italy is the euro area’s third- largest economy.
Finance ministers from all 27 nations in the European Union will convene in Luxembourg today. Ministers from the euro bloc yesterday declared the 500 billion-euro ($649 billion) European Stability Mechanism operational, while saying that Spain, the permanent rescue fund’s biggest potential near-term customer, isn’t on the verge of tapping it.
German Chancellor Angela Merkel visits Greece today for the first time since the crisis began in 2009.
EUR/USD: during the Asian session, the pair rose to $1.2990.
GBP/USD: during the Asian session, the pair retreated from yesterday's low.
USD/JPY: during the Asian session, the pair rose to Y78.40.
The European calendar is very limited Tuesday and kicks off at 0645GMT, with the release of the French August foreign trade data.UK data starts at 0830GMT, with the release of the August trade data, along with the Index of production, manufacturing output and industrial production. Back in the UK, also at 1400GMT, the September NIESR Monthly GDP update is to be released.
(pare/closed(00:00 GMT +02:00)/change, %)
EUR/USD $1,2966 -0,55%
GBP/USD $1,6020 -0,71%
USD/CHF Chf0,9332 +0,41%
USD/JPY Y78,30 -0,46%
EUR/JPY Y101,53 -0,98%
GBP/JPY Y125,44 -1,12%
AUD/USD $1,0191 +0,09%
NZD/USD $0,8193 +0,21%
USD/CAD C$0,9771 -0,13%
00:30 Australia National Australia Bank's Business Confidence September -2 0
01:00 Australia RBA Assist Gov Lowe Speaks -
01:35 New Zealand REINZ Housing Price Index, m/m September +1.3%
04:00 Japan BOJ Governor Shirakawa Speaks -
05:00 Japan BoJ monthly economic report October
05:00 Japan Eco Watchers Survey: Current September 43.6 44.2
05:00 Japan Eco Watchers Survey: Outlook September 43.6
06:45 France Trade Balance, bln August -4.3 -4.9
07:30 Eurozone ECB President Mario Draghi Speaks -
08:00 Eurozone ECOFIN Meetings -
08:30 United Kingdom Industrial Production (MoM) August +2.9% -0.5%
08:30 United Kingdom Industrial Production (YoY) August -0.8% -1.1%
08:30 United Kingdom Manufacturing Production (MoM) August +3.2% -0.6%
08:30 United Kingdom Manufacturing Production (YoY) August -0.5% -0.6%
08:30 United Kingdom Trade in goods August -7.1 -8.3
12:15 Canada Housing Starts August 225 200
14:00 United Kingdom NIESR GDP Estimate September +0.2%
23:30 Australia Westpac Consumer Confidence October +1.6%
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