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Analytics, News, and Forecasts for CFD Markets: currency news — 10-07-2012.
During the American session, the euro rose slightly after the euro-zone finance ministers agreed on the conditions by Spanish banks, and on the background data, which showed growth of industrial production in Italy and Britain. Support the single currency have the latest news from the European Union, where after meeting the Eurogroup agreed that the first tranche of financial assistance to recapitalize the banks in Spain in the size of 30 billion euros will go the country until the end of July 2012, which is somewhat reduced tensions and expectations for an early exit of the debt crisis. Also on the depreciation of the euro contributed by the Prime Minister of Italy Monti. According to him, even though the country does not need a bailout, as Greece was granted, it would not necessarily oppose the purchase of Italian bond mechanism of the European financial stability. The British pound rose after data showed that the volume of production in the country exceeded forecasts, and the trade deficit narrowed significantly. Thus, in the UK industrial production increased in May by 1.0% m / m, is expected to fall by 0.2% m / m At the same time, in May, Britain's trade deficit narrowed sharply against the shock of exports, recovered from the April aggressive fall. Swiss franc against the dollar has declined during the session, updating the yesterday's high and is now trading in the progress of values. Also during the session increased significantly against the euro, yen, due to increased demand for safe assets and uncertainty about the Council meeting of European finance ministers.
EUR/USD $1.2300, $1.2400, $1.2475
USD/JPY Y80.75, Y80.85
GBP/USD $1.5300, $1.5700
EUR/GBP stg0.7900
AUD/USD $1.0175, $1.0200
Euro is trading below 1.2004 Australian dollar, the lowest level since February 1989
The euro / sterling fell below 0.7916, the lowest level since November 2008
Data
06:45 France Industrial Production, m/m May +1.5% -0.9% -1.9%
06:45 France Industrial Production, y/y May +0.9% -1.5% +1.4%
08:30 United Kingdom Industrial Production (MoM) May 0.0% -0.1% +1.0%
08:30 United Kingdom Industrial Production (YoY) May -1.0% -2.1% -1.6%
08:30 United Kingdom Manufacturing Production (MoM) May -0.7% +0.1% +1.2%
08:30 United Kingdom Manufacturing Production (YoY) May -0.3% -1.9% -1.7%
08:30 United Kingdom Trade in goods May -10.1 -9.0 -8.4%
09:00 Eurozone ECOFIN Meetings -
During the European session, the euro rose slightly after the euro-zone finance ministers agreed on the conditions by Spanish banks, and on the background data, which showed growth of industrial production in Italy.
Support the single currency have the latest news from the European Union, where after meeting the Eurogroup agreed that the first tranche of financial assistance to recapitalize the banks in Spain in the size of 30 billion euros will go the country until the end of July 2012, which is somewhat reduced tensions and expectations for an early exit of the debt crisis.
All investors' attention will be riveted to the Ecofin meeting, which begins today in Brussels: EU finance ministers will hold the second meeting in the capital of Belgium, where he will discuss the details and conditions of the assistance program in Spain. In particular, it is expected that the country will get an extra year to meet targets for reducing the budget deficit to 3% of GDP. "Deadline" will be postponed to 2014, whereas previously it was assumed that Madrid would reduce the budget deficit to 3% of GDP by 2013
The British pound rose after data showed that the volume of production in the country exceeded forecasts, and the trade deficit narrowed significantly. Thus, in the UK industrial production increased in May by 1.0% m / m, is expected to fall by 0.2% m / m At the same time, in May, Britain's trade deficit narrowed sharply against the shock of exports, recovered from the April aggressive fall:
- Balance of trade in goods -8.363 billion GBP vs. prev. -9.709 Billion GBP - Better than forecast -9.1 billion
- The total trade balance of -2.717 billion GBP vs. prev. -4.088 Billion GBP
- The trade balance with countries outside the EU, -3.865 billion GBP vs. prev. -5.125 Billion GBP
- Exports +7.8% m / m
- Imports +1.5% m / m
EUR / USD: during the European session, the pair rose to $ 1.2337, then stepped back, and is now trading at $ 1.2284
GBP / USD: the pair updated session low of $ 1.5548
USD / JPY: during the session, the pair dropped to Y79.20 and then recovered to the level of Y79, 43
At 12:15 GMT, Canada will publish the number of bookmarks of new foundations for June. At 14:00 GMT in the UK there are data on the change in GDP from the NIESR in June. At 23:50 GMT Japan will publish an index of activity in the services sector in May
EUR/USD
Offers $1.2450, $1.2420, $1.2380, $1.2350/60
Bids $1.2275/70, $1.5220, $1.2220, $1.2215/10
EUR/GBP
Offers stg0.8080/90, stg0.8040/50, stg0.8020/25, stg0.8010, stg0.8000/05, stg0.7980/85
Bids stg0.7900, stg0.7875/70
USD/JPY
Offers Y80.10, Y80.00, Y79.90, Y79.75/80
Bids Y79.00
EUR/JPY
OffersY98.55/60, Y98.50, Y98.20, Y98.00/05
Bids Y97.00, Y96.50, Y96.00
AUD/USD
Offers $1.0350, $1.0330/35, $1.0290/00, $1.0250
Bids $1.0150, $1.0125/20
GBP/USD
Offers $1.5620/25, $1.5600/10, $1.5580, $1.5550/60
Bids $1.5482/77, $1.5470, $1.5450, $1.5400
EUR/USD
Offers $1.2450, $1.2420, $1.2380, $1.2350/60
Bids $1.2275/70, $1.5220, $1.2220, $1.2215/10
EUR/GBP
Offers stg0.8080/90, stg0.8040/50, stg0.8020/25, stg0.8010, stg0.8000/05, stg0.7980/85
Bids stg0.7900, stg0.7875/70
USD/JPY
Offers Y80.10, Y80.00, Y79.90, Y79.75/80
Bids Y79.00
EUR/JPY
Offers Y98.55/60, Y98.50, Y98.20, Y98.00/05
Bids Y97.00, Y96.50, Y96.00
AUD/USD
Offers $1.0350, $1.0330/35, $1.0290/00, $1.0250
Bids $1.0150, $1.0125/20
GBP/USD
Offers $1.5620/25, $1.5600/10, $1.5580, $1.5550/60
Bids $1.5482/77, $1.5470, $1.5450, $1.5400
Resistance 3: Y80.02 (Jul 5 high)
Resistance 2: Y79.77 (Jul 9 high)
Resistance 1: Y79.66 (MA(200) for Н1)
Current price: Y79.55
Support 1: Y79.20 (session low)
Support 2: Y79.12 (Jun 28 low)
Support 3: Y78.78 (Jun 20 low)
Resistance 3: Chf1.0000 (psychological level)
Resistance 2: Chf0.9910 (Dec 2010 high)
Resistance 1: Chf0.9800 (session high)
Current price: Chf0.9758
Support 1: Chf0.9680 (Jul 6 low)
Support 2: Chf0.9630 (MA (200) for H1)
Support 3: Chf0.9510/20 (area of Jul 3-4 low)
Resistance 3: $ 1.5620 (Jul 5 high)
Resistance 2: $ 1.5590 (MA (200) for H1)
Resistance 1: $ 1.5550 (area of session high and Jul 9 high)
Current Price: $ 1.5528
Support 1: $ 1.5495 (session low)
Support 2: $ 1.5470 (Jun 9 low)
Support 3: $ 1.5400 (Jun 8 low)
Resistance 3: $ 1.2610 (Jul 4 high)
Resistance 2: $ 1.2480 (MA (200) for H1)
Resistance 1: $ 1.2400 (Jul 6 high)
Current Price: $ 1.2312
Support 1: $ 1.2255 (Jul 9 low)
Support 2: $ 1.2145 (Jun 2010 low)
Support 3: $ 1.2000 (psychological level)
-- PDMA sold E1.625bln; E375mln to non-comps
-- E1.625bln 26-week T-bill; avg yield 4.70% (4.73%), cover 2.16 (2.14)
The British pound jumped after the release of economic data showing that production in the country exceeded forecasts, and the trade deficit narrowed significantly.
EUR/USD $1.2300, $1.2400, $1.2475
USD/JPY Y80.75, Y80.85
GBP/USD $1.5300, $1.5700
EUR/GBP stg0.7900
AUD/USD $1.0175, $1.0200
01:30 Australia AiG Performance of Construction Index June -2 -3
03:00 China Trade Balance, bln June 18.7 22.6
05:00 Japan Consumer Confidence June 40.7 40.9
05:00 Japan Consumer Confidence Households June 40.7
The 17-nation currency was 0.4 percent from a one-month low against the yen after European Union Economic and Monetary Affairs Commissioner Olli Rehn said Spain will have to take additional measures soon to meet budget targets.
The dollar strengthened versus most of its 16 major peers as Asian stocks declined.
The Australian and New Zealand currencies dropped after data showed growth in exports and imports slowed in China.
The euro declined to within 0.4 percent of its lowest level in two years, before reports forecast to show industrial production shrank in France and Italy as Europe’s debt crisis undermines growth.Industrial production in France probably dropped 1 percent in May from the previous month, when it climbed 1.5 percent, according to the median estimate in a Bloomberg News survey before Paris-based national statistics office Insee releases the report today.
European Central Bank President Mario Draghi signaled the bank may consider another interest-rate cut if the economic outlook warrants it, when he addressed lawmakers in Brussels yesterday. The ECB lowered the main refinancing rate to a record 0.75 percent and cut the deposit rate to zero on July 5.
EUR / USD: during the Asian session the pair retreated from yesterday's high.
GBP / USD: during the Asian session the pair fell to $ 1.5500.
USD / JPY: during the Asian session the pair fell.
In Europe, the EU finance ministers meeting continues in Brussels, while other events include the Bank of Portugal publishing the Summer Economic Bulletin. Scheduled European data starts at 0645GMT with France industrial output, while at 0800GMT Bank of France Governor Christian Noyer is due to present the 2011 annual report, in Paris. Also at 0800GMT, ECB Governing Council member Jens Weidmann and German Finance Minister Wolfgang Schaeuble are due to attend the oral proceedings of German Constitutional Court in case against ESM and fiscal compact, in Karlsruhe.
US data starts at 1145GMT with the weekly ICSC-Goldman Store Sales data followed at 1255GMT by the weekly Redbook Average. US JOLTS (Job Opening, Labor Turnover) data is due at 1400GMT, while at the same time,the IBD/TIPP Economic Optimism Index is due. US data rounds off at 1900GMT with Treasury Allotments By Class data.
UK data at 0830GMT includes Industrial Production and the Trade Balance for May. At 14500GMT, the UK gets the NIESR Monthly GDP Growth Rate data. Later on, at 2045GMT, the Bank of England FPC's Bob Jenkins delivers a speech at Actuaries Event.
Yesterday the euro traded in a narrow range. The pressure on the single currency has had a regional statistics, under which the euro zone investor confidence index up in July Sentix -29.6 points. In addition, the single currency remained under pressure due to rising yields on the debt of Spain and Italy. The main event of today's session was a meeting of the Eurogroup, which dealt primarily with the outcome of EU summit. But as it became known, the meeting was not very inspired by market participants and the major currencies almost did not react to past events.
Euro retreated from the Asian session low against the dollar on the comments of representatives of the Eurogroup in respect of the debt crisis. According to the European Commission, following the establishment of a pan-European supervisory control over the banking activities, to directly recapitalize the banks by means of the eurozone ESM will not require sovereign guarantees. Support a single currency was the outcome of the German auction. The German Government has placed semi-annual treasury bills amounting to 3.29 billion euros, while intended to attract four billion euros.
The pound was trading at the beginning of the session kept in relation to the dollar, but after the meeting of the Eurogroup, has shown rapid growth, updating the intraday high and is now trading in the data values.
The yen also shows a small but steady growth, updating the current high.
The Australian dollar fell after reports from the Xinhua News Agency, which reported that Chinese Premier Wen Jiabao said the government's intention to conduct a fine job in response to the risks associated with falling economic growth in the country. Comments appear once the largest trading partner of Australia announced a second-rate cut last month. In China, in June 2012. inflation was 2.2%, according to a report from the National Bureau of Statistics of China. This was the lowest in the last 2.5 years. Producer price index fell by 2.1% compared to the same period last year. Reduced PPI index is four months in a row and shows a decrease in demand for industrial goods.
Resistance 3: Y80.65 (Jun 25 high)
Resistance 2: Y80.10 (Jul 5 high)
Resistance 1: Y79.75 (Jul9 high, MA (100) H1)
Current price: Y79.50
Support 1: Y79.30/40 (Jul 2 low,Jul 9 low)
Support 2: Y79.10 (Jun 29 low)
Support 3: Y78.80 (Jun6 low)
Resistance 3: Chf0.9895 (Dec 9 high 2010)
Resistance 2: Chf0.9845 (Dec 13 high 2010)
Resistance 1: Chf0.9800 (Jul 9 high)
Current price: Chf0.9772
Support 1: Chf0.9745 (session low)
Support 2: Chf0.9685 (Jul 6 low, MA (100) H1)
Support 3: Chf0.9625 (MA (200) H1)
Resistance 3: $ 1.5625 (Jul 5 high)
Resistance 2: $ 1.5590 (MA (200) H1)
Resistance 1: $ 1.5535/50 (area of Jul 6-9 highs, MA (100) H1)
Current Price: $ 1.5501
Support 1: $ 1.5460 (Jul 6 low)
Support 2: $ 1.5400 (Jun 8 low)
Support 3: $ 1.5320 (Jun 5 low)
Resistance 3: $ 1.2475 (MA (200) H1)
Resistance 2: $ 1.2400 (Jul 6 high, MA (100) H1)
Resistance 1: $ 1.2325 (Jul 9 high)
Current Price: $ 1.2284
Support 1: $ 1.2260 (Jul 9 low)
Support 2: $ 1.2200 (psychological level)
Support 3: $ 1.2155 (Jun 29 low 2010)
(pare/closed(00:00 GMT +02:00)/change, %)
EUR/USD $1,2313 +0,21%
GBP/USD $1,5523 +0,22%
USD/CHF Chf0,9751 -0,22%
USD/JPY Y79,56 -0,13%
EUR/JPY Y97,96 +0,10%
GBP/JPY Y123,48 +0,11%
AUD/USD $1,0206 -0,03%
NZD/USD $0,7966 -0,11%
USD/CAD C$1,0191 -0,03%
01:30 Australia AiG Performance of Construction Index June -2 -3
03:00 China Trade Balance, bln June 18.7 22.6
05:00 Japan Consumer Confidence June 40.7 40.9
05:00 Japan Consumer Confidence Households June 40.7
06:45 France Industrial Production, m/m May +1.5% -0.9%
06:45 France Industrial Production, y/y May +0.9% -1.5%
08:30 United Kingdom Industrial Production (MoM) May 0.0% -0.1%
08:30 United Kingdom Industrial Production (YoY) May -1.0% -2.1%
08:30 United Kingdom Manufacturing Production (MoM) May -0.7% +0.1%
08:30 United Kingdom Manufacturing Production (YoY) May -0.3% -1.9%
08:30 United Kingdom Trade in goods May -10.1 -9.0
09:00 Eurozone ECOFIN Meetings -
12:15 Canada Housing Starts June 211 202
14:00 United Kingdom NIESR GDP Estimate June +0.1%
23:00 Australia RBA Assist Gov Lowe Speaks -
23:50 Japan Tertiary Industry Index May -0.3% +0.2%
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