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Analytics, News, and Forecasts for CFD Markets: currency news — 10-01-2013.
The euro rose the most in five months versus the dollar as European Central Bank President Mario Draghi said the economy should gradually recover and the decision to refrain from cutting interest rates was unanimous.
The 17-nation currency climbed to the strongest since July 2011 against the yen after Spain sold more than the maximum target at its first debt auction of the year, adding to signs the region’s financial crisis is easing. The Spanish Treasury in Madrid raised 5.82 billion euros ($7.69 billion) from the sale of three bonds, exceeding its upper target of 5 billion euros. The auctions included a new two-year note with so-called collective-action clauses limiting investors’ rights to oppose writedowns.
The yen fell for a second day versus the dollar on bets Japanese policy makers will boost stimulus that tends to weaken the currency. The yen declined against all of its 16 most-traded counterparts except South Africa’s rand after a draft document obtained by Bloomberg News showed the government expects the central bank to conduct “bold” monetary easing. Bank of Japan Governor Masaaki Shirakawa said yesterday the BOJ was in close cooperation with the government. The central bank next meets on Jan. 21-22.
Australia’s currency gained for a fifth day as Chinese imports increased. Australia’s dollar strengthened to the highest level in almost four months versus its U.S. counterpart after data showed imports increased in China, the South Pacific nation’s biggest overseas market. Shipments to China rose 6 percent last month, the customs administration said in Beijing.
The British pound rose after it during the first meeting of the new year, the Bank of England MPC members decided to keep the current course of monetary policy unchanged.
Positive market sentiment allowed to continue to grow against the Aussie dollar during the U.S. session. In Asia, the AUD / USD broke through $ 1.0550/60 resistance area on strong Chinese data and some consolidation after the pair reached a 4-month high of $ 1.0593.
Currently the pair is trading in the $ 1.0585, noting the rise of 0.7% on the day. If the AUD will continue to grow, the nearest resistance is located at $ 1.0600 (psychological level) and $ 1.0625 (September 14 high).
likelihood
of catastrophic scenarios much lower
looking
with cautious optimism on 2013
doesn't
expect
banking
union should continue to progress
eurozone
should stick to reform path despite eased market pressure
EUR/USD $1.2975, $1.3045, $1.3050, $1.3100, $1.3250
USD/JPY Y87.50, Y88.00, Y88.50
GBP/USD $1.6000, $1.6100, $1.6145
USD/CHF Chf0.9225
AUD/USD $1.0470, $1.0490, $1.0525, $1.0600
AUD/NZD NZ$1.2545
Data
00:30 Australia Building Permits, m/m November -7.6% +3.1% +2.9%
00:30 Australia Building Permits, y/y November +14.5% +11.6% +13.2%
02:00 China Trade Balance, bln December 19.6 20.1 31.6
05:00 Japan Leading Economic Index November 92.8 93.1 91.9
05:00 Japan Coincident Index November 90.7 90.1
07:45 France Industrial Production, m/m November -0.7% +0.2% +0.5%
07:45 France Industrial Production, y/y November -3.6% -4.0% -3.6%
07:45 France CPI, m/m December -0.2% +0.4% +0.4%
07:45 France CPI, y/y December +1.4% +1.3% +1.5%
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%
In today's trading the euro rose sharply against the dollar, having received support in the early days of the publication of statistics in France, which was better than expected. exceed the expectations of statistics from France. As shown by the data in December consumer price index rose by 0.4%, compared with the average forecast at around +0.3%. At the same time, industrial production increased in November by 0.5%, compared to -0.6% the previous month, and the forecast at around 0.2%. Furthermore, the euro continued, helped by a successful auction in Spain. During the auction Spain posted bond in the amount of € 5.87 billion from the planned € 4-5 billion 2-year bonds sold in the amount of € 3.397 billion, the yield was 2.476% (compared to 3,282% previously). Investor sentiment has improved due to lower yields and increased demand in anticipation of the ECB. But the most important event, which many market participants had expected, was the decision of the ECB to leave interest rates at 0.75%, which was in line with forecasts. However, traders are cautious in anticipation of the press conference., Which is expected to put pressure on the single currency.
The pound rose against the dollar as market participants are awaiting the decision of the Bank of England's monetary policy. Meanwhile, the growth rates had also been called the successful results of the auction in Spain, however, the pound was unable to hold the position, and decreased after the first in the new year meeting, members of the Bank of England MPC decided to keep rates at 0.5 %, and a program of asset purchases at £ 375 billion
EUR / USD: during the European session, the pair rose to $ 1.3123
GBP / USD: during the European session, the pair rose to $ 1.6070
USD / JPY: during the European session, the pair rose to Y88.32
At 13:30 GMT in the euro zone will be the monthly press conference of the ECB. At 13:30 GMT in Canada becomes aware of changes in the volume of building permits issued in November. At the same time, the index will be released in housing prices in the primary market in November. At 13:30 GMT the United States will provide data on the number of initial claims for unemployment insurance in January, and the number of repeat applications for unemployment benefits in December. Finish the day at 23:50 GMT Japan general information on the current account balance and the adjusted total current account surplus for November.
EUR/USD
Offers $1.3190/200, $1.3140/50, $1.3120/30
Bids $1.3030, $1.3010/00, $1.2995/90
GBP/USD
Offers $1.6150/55, $1.6130/35, $1.6100/10, $1.6075/80
Bids $1.5980, $1.5965/60
AUD/USD
Offers $1.0650, $1.0635/40, $1.0600
Bids $1.0520, $1.0500, $1.0480/70, $1.0450/40
EUR/GBP
Offers stg0.8220/25, stg0.8200/10, stg0.8180/85, stg0.8170
Bids stg0.8135/30, stg0.8120, stg0.8105/00, stg0.8080, stg0.8065/60
EUR/JPY
Offers Y117.00, Y116.50, Y116.00
Bids Y114.80/75, Y114.60, Y114.50, Y114.10/00, Y113.50
USD/JPY
Offers Y89.35/40, Y89.00, Y88.50, Y88.35/40
Bids Y87.75/70, Y87.50, Y87.05/00
EUR/USD $1.2975, $1.3045, $1.3050, $1.3100, $1.3250
USD/JPY Y87.50, Y88.00, Y88.50
GBP/USD $1.6000, $1.6100, $1.6145
USD/CHF Chf0.9225
AUD/USD $1.0470, $1.0490, $1.0525, $1.0600
AUD/NZD NZ$1.2545
The yen dropped against the dollar for the first time in three days as Prime Minister Shinzo Abe told central-bank governor Masaaki Shirakawa he wants the Bank of Japan to double its inflation goal to 2 percent. Japan’s currency slid versus all of its 16 most-traded peers after Shirakawa said the BOJ was in close contact with the government, adding to bets policy makers will boost stimulus that tends to debase the yen. The bank meets next week. The yen declined versus major peers as Abe talked with Shirakawa at a meeting of Japan’s Council on Economic and Fiscal Policy in Tokyo. The regular gatherings resumed after being abolished by the previous government. Minutes will become available three business days after the meetings are held, according to the Cabinet Office.
The euro fell for a second day against the greenback before the European Central Bank meets. The ECB will keep its main refinancing rate at a record-low 0.75 percent, according to the median forecast of 55 analysts in a Bloomberg survey. Five predicted the central bank will lower the rate to 0.5 percent. Also published the final Eurozone GDP, which are fully consistent with the projections. Later also presented a report on industrial production in Germany, which showed an increase of 0.2%, while analysts had expected an increase of 1.1%.
Pound decreased, which was due to the publication of data showing that the trade deficit fell less than expected. Office for National Statistics said that the trade deficit narrowed to 9.164 billion pounds from 9.487 billion pounds in October, while economists forecast a reduction in the deficit to 9.05 billion pounds.
The Canadian dollar was able to regain some lost ground against the dollar after data on Canada's housing market in December, were slightly better than forecast. The number of housing starts in Canada in December fell by 1.7% compared to November and adjusted for seasonal variation was 197,976 homes a year. This figure was slightly worse than expected. According to the forecast, the number of bookmarks in December should have been 195,000 homes a year.00:30 Australia Building Permits, m/m November -7.6% +3.1% +2.9%
00:30 Australia Building Permits, y/y November +14.5% +11.6% +13.2%
02:00 China Trade Balance, bln December 19.6 20.1 31.6
05:00 Japan Leading Economic Index November 92.8 93.1 91.9
05:00 Japan Coincident Index November 90.7 90.1
The yen weakened for a second day and neared a 2 1/2 year-low against the dollar after Prime Minister Shinzo Abe urged Bank of Japan Governor Masaaki Shirakawa to double the central bank’s inflation goal. Shirakawa said yesterday the BOJ was in close cooperation with the government, raising speculation policy makers will boost stimulus when they meet Jan. 21-22. Japan’s currency slid against all of its major peers before data forecast to show the nation’s trade deficit widened. A report tomorrow on Japanese trade will also be a “key focus”. Japanese imports probably exceeded exports by 832 billion yen ($9.45 billion) in November, according to the median estimate of economists surveyed by Bloomberg News. The gap for October was 450.3 billion yen.
Demand for Europe’s shared currency was limited amid signs of a slowdown in the region’s biggest economies. ECB President Mario Draghi and his board will probably keep its main refinancing rate at a record-low 0.75 percent, although 5 of the 55 analysts polled predicted the central bank will lower the benchmark to 0.5 percent.
French manufacturing production probably fell 0.2 percent in November from the previous month, when it dropped 0.9 percent, the median forecast of economists in a Bloomberg survey showed ahead of the data today. German figures yesterday showed industrial production in Europe’s biggest economy trailed economists’ estimates.
Australia’s dollar rose to the highest in more than three weeks versus its U.S. counterpart after China’s trade data boosted export prospects for the South Pacific nation. Shipments from China grew 14.1 percent in December from a year earlier, while imports increased 6 percent, the customs administration said today in Beijing. Economists polled by Bloomberg expected increases of 5 percent and 3.5 percent respectively.
EUR/USD: during the Asian session the pair fell to the previous day's low of $1.3035.
GBP/USD: during the Asian session the pair fell to $1.6000.
USD/JPY: during the Asian session, the pair climbed to Y88.20.
The main features on Thursday's calendar are around lunchtime in London, when both the ECB and the Bank of England release their latest monetary policy decisions. However, there is a full calendar without the central banks. At 0700GMT, the UK government will unveil changes to the calculations of UK inflation measures. There is a string of French data from 0730GMT, starting at 0730GMT with the release of the French BOF Business survey. At 0745GMT, French November industrial output numbers and the December HICP data will cross the wires. At 0900GMT, German November machine orders numbers will be released.
(pare/closed(00:00 GMT +02:00)/change, %)
EUR/USD $1,3064 -0,12%
GBP/USD $1,6021 -0,21%
USD/CHF Chf0,9252 +0,13%
USD/JPY Y87,87 +0,93%
EUR/JPY Y114,78 +0,81%
GBP/JPY Y140,77 +0,76%
AUD/USD $1,0512 +0,09%
NZD/USD $0,8395 +0,37%
USD/CAD C$0,9874 +0,09%00:30 Australia Building Permits, m/m November -7.6% +3.1%
00:30 Australia Building Permits, y/y November +14.5% +11.6% +13.2%
02:00 China Trade Balance, bln December 19.6 20.1
05:00 Japan Leading Economic Index November 92.8 93.1
05:00 Japan Coincident Index November 90.7
07:45 France Industrial Production, m/m November -0.7% +0.2%
07:45 France Industrial Production, y/y November -3.6% -4.0%
07:45 France CPI, m/m December -0.2% +0.4%
07:45 France CPI, y/y December +1.4% +1.3%
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%
13:30 Eurozone ECB Press Conference -
13:30 Canada Building Permits (MoM) November +15.0% +2.4%
13:30 Canada New Housing Price Index November +0.2% +0.2%
13:30 U.S. Initial Jobless Claims January 372 361
15:00 U.S. Wholesale Inventories November +0.6% +0.2%
18:10 U.S. FOMC Member Esther George Speaks -
19:00 U.S. FOMC Member James Bullard Speaks -
23:50 Japan Current Account Total, bln November 376.9 -30.1
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