Analytics, News, and Forecasts for CFD Markets: currency news — 10-12-2012.

The euro fell back to two-week low against the dollar, as the Italian prime minister, said he intends to retire, which struck the same renewed speculation that a change in government can destroy all the efforts to resolve the debt crisis. Italian Prime Minister Mario Monti will try to convince his coalition, which includes people of his predecessor, Silvio Berlusconi, to vote for the adoption of the budget law, before he retires.

Note that the popularity of Monty has been undermined after his tax increases to push Italy into an even greater recession. We also recall that on December 8 Berlusconi announced that he would participate in the election of the Prime Minister in the next year. At the same time, he expressed his dissatisfaction with the launch of the German-based program that promotes Monti.

The single currency shows a three-day decline against the yen ahead of the meeting of leaders of the European Union, to be held this week, and the purpose of which is to discuss measures to end the crisis, including increased powers to intervene in the national budgets and creating a single supervisor.

The yen strengthened against all 16 major currencies as investors sought safer assets.

The Australian dollar weakened against the yen after China reported a lower-than-expected trade surplus.

EUR / USD: during the European session, the pair fell to a new low of $ 1.2885, but then recovered and is now trading at $ 1.2917

GBP / USD: during the European session the pair fell to the low of $ 1.6013, and then rose to $ 1.6061

USD / JPY: during the European session the pair fell to Y82.10, but then rose to Y82.29

At 13:15 GMT, Canada will present a report on the number of new foundations of bookmarks for November. At 17:15 GMT BOE King make a speech. At 19:30 GMT New Zealand publish house price index from REINZ for November. At 19:30 GMT New Zealand said the change of volume of home sales from REINZ for November.

GBP/USD

Offers $1.6120, $1.6100, $1.6075/85, $1.6060/65, $1.6050

Bids $1.6000, $1.5980, $1.5965/55, $1.5940-20

AUD/USD

Offers $1.0550, $1.0525, $1.0520, $1.0500

Bids $1.0465/60, $1.0450, $1.0440, $1.0425/20, $1.0410/00

EUR/JPY

Offers Y107.20, Y106.95/00, Y106.40/45

Bids Y105.80, Y105.50, Y105.00

USD/JPY

Offers Y83.30, Y83.00, Y82.40/50

Ордера на покупку Y82.00, Y81.80, Y81.60

EUR/GBP

Offers stg0.8120/25, stg0.8100, stg0.8070/75

Bids stg0.8030, stg0.8020, stg0.8005/00, stg0.7970/60

The euro traded 0.2 percent from its lowest level in two weeks after Italy’s prime minister said he intends to resign, rekindling concern that a change in government will upend efforts to rein in debt. Italy’s Mario Monti will try to corral his coalition, which includes his predecessor Silvio Berlusconi’s People of Liberty Party, for a vote to pass budget legislation before handing in his “irrevocable resignation,” national President Giorgio Napolitano’s office said in an e-mailed statement on Dec. 8. Monti, 69, will quit immediately if his allies won’t comply, the premier’s spokeswoman, Elisabetta Olivi, said in a telephone interview.

The euro slid versus most of its 16 major counterparts ahead of a Dec. 13-14 summit of European Union leaders to debate a road map to overhaul the currency bloc.

Demand for the dollar was limited amid speculation the Federal Reserve may announce this week additional bond purchases. In the U.S., the Federal Open Market Committee meets for the final time this year on Dec. 11-12. It will consider whether to expand purchases of assets after its Operation Twist program of swapping $45 billion a month in short-term Treasuries for long-term debt expires this month. Expectations for more central bank stimulus come as data released Dec. 7 by the Labor Department showed the unemployment rate in the world’s biggest economy dropped to 7.7 percent, the lowest level since December 2008.

Australia’s currency slid after data from China’s customs administration showed that exports rose 2.9 percent in November from a year earlier while imports were unchanged. Both trailed the median analyst estimates in a Bloomberg News survey.

EUR/USD: during the Asian session, the pair traded in the range of $1.2885-15.

GBP/USD: during the Asian session the pair fell to $1.6015.

USD/JPY: during the Asian session the pair was trading around the level of Y82.50.

Wednesday's European calendar gets underway at 0800GMT, with the release of Spanish October industrial output data offering a further look at the depth of the recession in Spain. However, the main releases start from 0813GMT, as eurozone service sector final November PMI numbers cross the screens. Spanish data is at 0813GMT, Italy at 0843GMT, France at 0848GMT, Germany at 0853GMT and the aggregate eurozone PMI is due at 0858GMT. The UK also sees the release of service sector PMI data, with the November Markit/CIPS Services release due at 0930GMT. More EMU data is expected at 1000GMT, with the release of the October retail trade numbers.