Analytics, News, and Forecasts for CFD Markets: currency news — 10-04-2012.

The yen rose for a fifth day versus the dollar and the euro after Federal Reserve Chairman Ben S. Bernanke said the U.S. recovery is far from complete, spurring demand for haven amid bets the central bank will add stimulus. The Japanese currency advanced against all of its 16 most- traded peers after the Bank of Japan refrained from easing monetary policy. The Bank of Japan kept its key rate between zero and 0.1 percent and left unchanged its 30 trillion-yen ($370 billion) asset-purchase fund. No board member proposed additional easing at the two-day meeting concluded today, the central bank said. The yen has weakened 4.2 percent against the dollar since the Bank of Japan set a 1 percent inflation goal on Feb. 14 and increased its planned purchases of government bonds.

The euro fell to the lowest level in a month against the yen before Italy auctions bonds this week amid concern the region’s debt crisis is spreading. Italy will sell 11 billion euros ($14.4 billion) of bills tomorrow, followed by an offering of debt due from 2015 to 2023. Spain’s 10-year yields jumped more than 40 basis points last week, the biggest surge since the five days ended Jan. 6, as Prime Minister Mariano Rajoy said the nation is in “extreme difficulty.” Spanish banks may need additional capital if the economy weakens more than expected, Bank of Spain Governor Miguel Angel Fernandez Ordonez said today at a conference in Madrid as he warned the recovery will be slow. Spanish lenders have made provisions of 112 billion euros in the four years through 2011, and that figure will rise to 147 billion euros once tighter rules approved in February have been implemented, Ordonez said today. If the economy recovers, that will be “more than enough,” he said.

EUR/USD $1.3000, $1.3175, $1.3200, $1.3225

USD/JPY  Y82.00, Y82.50

EUR/GBP stg0.8355

USD/CHF  Chf0.9055

AUD/USD $1.0250, $1.0265, $1.0280, $1.0390

EUR/USD
Offers $1.3280, $1.3240/50, $1.3205/20, $1.3180, $1.3165/70, $1.3145/50, $1.3115/25, $1.3095/100
Bids $1.3035/30, $1.3020, $1.3005/00, $1.2980/70

GBP/USD
Offers $1.6000/10, $1.5980/85, $1.5960/65, $1.5900/05, $1.5880, $1.5850
Bids $1.5805/00, $1.5780/70, $1.5750/40

USD/JPY
Offers Y83.00, Y82.75/80, Y82.50/55, Y82.30/35, Y81.85/90, Y81.60/65
Bids Y81.00, Y80.65/55, Y80.50, Y80.30/25, Y80.10/00

EUR/JPY
Offers Y108.10/20, Y107.60/65, Y107.45/50, Y107.15/20, Y106.95/00, Y106.75/80
Bids Y105.65/60, Y105.45/40, Y105.10/00, Y104.75/70, Y104.50

AUD/USD
Offers $1.0425/30, $1.0380/00, $1.0360/65, $1.0350
Bids $1.0265/55, $1.0230, $1.0200, $1.0150

EUR/GBP
Offers stg0.8320/25, stg0.8300, stg0.8280
Bids stg0.8235/30, stg0.8225/20, stg0.8200, stg0.8180

Resistance 3: Y82.55 (Apr 6 high)
Resistance 2: Y82.15 (МА (200) for Н1)
Resistance 1: Y81.90 (session high)
Current price: Y81.11
Support 1: Y81.10 (area of session low, 38,2 % FIBO Y76,00-Y84,20)
Support 2: Y80.60 (high of March)
Support 3: Y80.20 (Feb 29 low)

Resistance 3: Chf0.9340 (high of March)
Resistance 2: Chf0.9250 (Mar 16 high)
Resistance 1: Chf0.9210/20 (area of session high and Apr 5 and 9 highs)
Current price: Chf0.9195
Support 1: Chf0.9175 (high of Asian session)
Support 2: Chf0.9140 (earlier resistance, Mar 26 high, Apr 5 low, session low)
Support 3: Chf0.9090 (earlier resistance, Mar 29 high)

Resistance 3 : $1.5960 (61,8 % FIBO $1,6060-$ 1,5800)
Resistance 2 : $1.5930 (session high)
Resistance 1 : $1.5870/80 (area of broken earlier support line from Apr 5, 50,0 % FIBO of today's decrease)
Current price: $1.5826
Support 1 : $1.5800 (Mar 26 and Apr 5 lows, support line from Jan 13)
Support 2 : $1.5770 (Mar 22 low)
Support 3 : $1.5700/690 (area of Mar 16 low)

Resistance 3 : $1.3200 (area of МА (200) for Н1)
Resistance 2 : $1.3150 (session high)
Resistance 1 : $1.3100 (area of low of Asian session)
Current price: $1.3066
Support 1 : $1.3030 (Apr 5 and 9 lows)
Support 2 : $1.3000 (low of March)
Support 3 : $1.2975 (low of February)

EUR/USD $1.3000, $1.3175, $1.3200, $1.3225

USD/JPY  Y82.00, Y82.50

EUR/GBP stg0.8355

USD/CHF  Chf0.9055

AUD/USD $1.0250, $1.0265, $1.0280, $1.0390

01:00 China Trade Balance, bln March -31.5 -3.0 +5.4

01:30 Australia ANZ Job Advertisements (MoM) March +3.3% +1.0%

01:30 Australia National Australia Bank's Business Confidence March 1 3

03:30 Japan BoJ Interest Rate Decision - 0.10% 0.10% 0.10%

05:00 Japan BoJ Monetary Policy Statement -

06:00 Japan Prelim Machine Tool Orders, y/y March -8.6% +2.4%

The most-accurate foreign-exchange forecasters say the euro will slide as austerity-driven spending cuts from Spain to Italy reignite debt turmoil and drag the region into recession.

The yen remained lower against all of its 16 major counterparts as speculation persisted that the Bank of Japan (8301) will add to monetary easing later this month. The Japanese currency pared declines after the BOJ kept policy unchanged today.

The dollar fell against most of its peers after Federal Reserve Chairman Ben S. Bernanke said the U.S. economy is far from a complete recovery, spurring speculation the Fed will increase stimulus measures. The U.S. economy is still “far from having fully recovered” from the effects of the global financial crisis, Bernanke said yesterday. A Labor Department report on April 6 showed hiring by American employers in March amounted to 120,000, trailing the most-pessimistic forecast in a Bloomberg survey.

The Australian and New Zealand dollars erased gains versus the yen after the Bank of Japan (8301) declined to boost stimulus measures and a Chinese official said the global environment remains “grim.” China’s trade surplus was $5.35 billion, the customs bureau said in a statement on its website today. Exports rose 8.9 percent from a year earlier, while inbound shipments increased 5.3 percent. The median estimate in a Bloomberg News survey of economists was for a $3.15 billion trade deficit. Australian business confidence rebounded to 3 last month from a five-month low of 1 in February, a National Australia Bank Ltd. (NAB) survey of about 400 companies taken March 26-30 and released in Sydney today showed.

EUR/USD: during the Asian session the pair updated yesterday's high.

GBP/USD: during the Asian session the pair gain to $1.5930.

USD/JPY: during the Asian session the pair fell to yesterday's low.

European data also starts at 0600GMT with German trade data. This is followed at 0630GMT by the France BoF business survey and at 0645GMT by France industrial output data. At 0730GMT, ECB Governing Council member Miguel Fernandez Ordonez is due to give an opening speech  entitled "The New Reality Of The Spanish Banking System", in Madrid. The EMU and UK OECD leading indicator data is due from 1000GMT, while at the same time the UK Conference Board Leading Indicator data is also due.

Yesterday the euro rose against the U.S. dollar against the announcement of the fact that Spain will cut costs further E10 billion in the focus of market participants are data on the trade balance of Germany, which will be published tomorrow. The data may show a fall in exports in February. According to a preliminary survey of economists, exports from the eurozone's largest economy, Germany is likely to decline by 1.2% in February compared with the previous month, when the index grew by 2.4%.

The Canadian dollar rose against its U.S. counterpart after the Bank of Canada said that the spring survey of business sector reflects the optimism. For example, sales growth will be stronger in the next 12 months - 58% of the companies (19% - no change, 23% expect a decrease). Inflation expectations do not exceed the target range of securities, while rose against higher oil prices.

The yen rose against all of its major peers as data showing Japan returned to a current-account surplus and tensions over a North Korean rocket launch bolstered the allure of the currency as an investment haven. The yen has weakened almost 5 percent against the dollar since the Bank of Japan set a 1 percent inflation goal on Feb. 14 and increased its planned purchases of government bonds. The BOJ starts a two-day policy meeting.

EUR/USD: yesterday the pair rose, closed day above $1.3100.

GBP/USD: yesterday the pair gain to $1.5900.

USD/JPY: yesterday the pair traded in range Y81.20-Y81.65.

European data also starts at 0600GMT with German trade data. This is followed at 0630GMT by the France BoF business survey and at 0645GMT by France industrial output data. At 0730GMT, ECB Governing Council member Miguel Fernandez Ordonez is due to give an opening speech  entitled "The New Reality Of The Spanish Banking System", in Madrid. The EMU and UK OECD leading indicator data is due from 1000GMT, while at the same time the UK Conference Board Leading Indicator data is also due.

Resistance 3: Y83.00 (Apr 3 high)

Resistance 2: Y82.55 (Apr 6 high)

Resistance 1: Y81.85 (session high)

The current price: Y81.53

Support 1: Y81.20 (Apr 9 low)

Support 2: Y80.55 (Mar 7 low)

Support 3: Y80.00 (Feb 28 low)

Resistance 3: Chf0.9255 (Mar 16 high)

Resistance 2: Chf0.9220 (Apr 5 high)

Resistance 1: Chf0.9175 (session high)

The current price: Chf0.9155

Support 1: Chf0.9140 (Apr 5 low)

Support 2: Chf0.9095 (Apr 4 low)

Support 3: Chf0.9070 (Apr 2 high)

Resistance 3 : $1.6045 (Apr 3 high)

Resistance 2 : $1.5975 (high of the American session on Apr 3)

Resistance 1 : $1.5935 (50.0% FIBO $1.5805-$1.6065)

The current price: $1.5926

Support 1 : $1.5885 (session low)

Support 2 : $1.5835 (Apr 9 low)

Support 3 : $1.5805 (Apr 5 low)

Resistance 3 : $1.3250 (61.8% FIBO $1.3030-$1.3380)

Resistance 2 : $1.3210 (high of the European session on Apr 4)

Resistance 1 : $1.3165 (Apr 5 high)

The current price: $1.3131

Support 1 : $1.3100 (session low)

Support 2 : $1.3030 (Apr 9 low)

Support 3 : $1.3000 (psychological level)

(pare/closed(00:00 GMT +02:00)/change, %)

EUR/USD $1,3109 +0,11%

GBP/USD $1,5896 +0,14%

USD/CHF Chf0,9166 -0,07%

USD/JPY Y81,56 -0,09%

EUR/JPY Y106,91 +0,07%

GBP/JPY Y129,63 +0,07%

AUD/USD $1,0308 +0,04%

NZD/USD $0,8215 +0,27%

USD/CAD C$0,9969 +0,01%

01:00 China Trade Balance, bln March -31.5 -3.0

01:30 Australia ANZ Job Advertisements (MoM) March +3.3%

01:30 Australia National Australia Bank's Business Confidence March 1

05:00 Japan BoJ Interest Rate Decision - 0.10% 0.10%

05:00 Japan BoJ Monetary Policy Statement -

05:45 Switzerland Unemployment Rate March 3.1% 3.1%

06:00 Germany Trade Balance February 14.2 13.6

06:00 Japan Prelim Machine Tool Orders, y/y March -8.6%

06:45 France Industrial Production, m/m February +0.3% +0.2%

06:45 France Industrial Production, y/y February -1.5% -1.4%

07:00 Japan BOJ Press Conference -

08:30 Eurozone Sentix Investor Confidence April -8.2 -7.4

14:00 U.S. Wholesale Inventories February +0.4% +0.5%

16:30 U.S. FOMC Member Richard Fisher Speaks -

16:45 U.S. FOMC Member Dennis Lockhart Speaks -

18:30 U.S. FOMC Member Narayana Kocherlakota -

21:00 New Zealand REINZ Housing Price Index, m/m March +0.8%

22:00 New Zealand NZIER Business Confidence Quarter I 0

23:01 United Kingdom RICS House Price Balance March -13%

23:50 Japan Core Machinery Orders February +3.4% -0.7%

23:50 Japan Core Machinery Orders, y/y February +5.7% +3.0%