Analytics, News, and Forecasts for CFD Markets: currency news — 11-02-2013.

The euro rose against most major currencies after a representative of the European Central Bank, Jens Weidmann said that the course of the single European currency is not too overpriced. Meanwhile, he added that the policy aimed at weakening the euro will lead to inflation.

The yen approached the lowest since May 2010 against the dollar as Japan's economy minister Akira Amari told Kyodo News, the government should aggressively pursue efforts aimed at stimulating growth stocks.

Meanwhile, we add that the yen fell for the first time in four days against the euro after the Asian Development Bank President Haruhiko Kuroda, who is a potential candidate to head the central bank, said that he supports the implementation of additional measures to stimulate the economy country, expecting that some of them may be approved in 2013. It should be noted that the statement Kuroda suggests that it may apply more drastic measures to suppress deflation when Prime Minister Shinzo Abe appointed him to head the BOJ after the resignation of Masaaki Shirakawa.

Pound fell against most major currencies after the industrial report showed that the level of trust in relation to employment in the UK fell markedly in January. Also exerted pressure on the currency speculation that confidence among traders that the exchange rate to appreciate significantly reduced.

Sold E7.59bln vs target E6.4bln-E7.6bln

- E3.995bln 3-month BTF, avg yield 0.012% (0.011%), cover 2.18 (2.10)

- E1.701bln 6-month BTF, avg yield 0.048% (0.047%), cover 3.23 (2.67)

- E1.894bln 12-month BTF, avg yield 0.145% (0.162%), cover 3.62 (3.71)

EUR/USD $1.3325, $1.3400, $1.3500, $1.3550

USD/JPY Y92.00, Y92.50, Y92.75, Y93.00, Y93.50, Y94.00

EUR/GBP stg0.8500, stg0.8600, stg0.8625, stg0.8660

USD/CHF Chf0.9150, Chf0.9245

EUR/CHF Chf1.2320

AUD/USD $1.0300, $1.0350, $1.0400

07:45 France Industrial Production, m/m December +0.5% -0.3% -0.1%

07:45 France Industrial Production, y/y December -3.6% -2.1% -2.1%

09:00 Eurozone Eurogroup Meetings -

The yen fell toward the weakest since May 2010 versus the dollar as Japanese officials signaled their commitment to policies that may cause it to depreciate.

Japan’s currency slid versus all of its 16 major peers after Economy Minister Akira Amari was reported by Kyodo News as saying the government should persevere with efforts to boost stocks. The yen slid for the first time in four days against the euro after Asian Development Bank President Haruhiko Kuroda, a potential candidate to head the central bank, suggested he favors greater stimulus.

The euro rose before ministers from the currency bloc meet to discuss aid for Cyprus and Greece. Euro-area finance ministers might discuss the euro’s exchange rate at tonight’s meeting in Brussels, Dutch Finance Minister Jeroen Dijsselbloem said.

The Group of Seven nations are considering releasing a statement on exchange rates this week to calm concern the world is on the brink of a currency war, three officials from G-7 countries said. The current draft wording contains a commitment to market-set exchange rates and an agreement that governments don’t use fiscal or monetary policy to drive currencies, the official said.

The G-7 is looking to release the statement before a Feb. 15-16 meeting in Moscow of finance ministers and central bankers from the Group of 20, which includes the G-7 and emerging markets such as Brazil, China and India.

EUR / USD: during the European session, the pair rose to a maximum of $ 1.3412

GBP / USD: during the European session the pair fell to the low of $ 1.5668

USD / JPY: during the European session the pair rose to a maximum of Y93.44

At 15:00 GMT the United States will share of overdue mortgage payments for the 4th quarter. At 20:30 GMT New Zealand publish house price index from REINZ, changes in the volume of home sales from REINZ for January.

EUR/USD

Offers $1.3480, $1.3450/60, $1.3425/30

Bids $1.3350, $1.3325/15, $1.3300

GBP/USD

Offers $1.5840/50, $1.5820, $1.5800/10, $1.5770/80

Bids $1.5685/80, $1.5630

AUD/USD

Offers $1.0400, $1.0375/80, $1.0345/50, $1.0295/00

Bids $1.0250, $1.0200, $1.0150, $1.0110/00

EUR/JPY

Offers Y126.20, Y126.00, Y125.80/90, Y125.45/50

Bids Y124.50/40, Y124.00, Y123.85/80 , Y123.55/50 , Y123.20

USD/JPY

Offers Y94.50, Y94.25, Y93.90/00, Y93.70, Y93.50

Bids Y93.05/00, Y92.60/50, Y92.40/35, Y92.30/25, Y92.10, Y92.00

EUR/GBP

Offers stg0.8600/10, stg0.8580, stg0.8565/70, stg0.8545/50

Bids stg0.8425/20, stg0.8400

- Stabilization in EMU, Italy, Germany; France to stay weak

- Below-trend growth seen in China, India, Canada, Russia

- OECD December leading indicator +0.11 point m/m to 100.4

France's industrial production decreased at a slower rate in December, in line with economists' expectations, data released by statistical office Insee showed Monday.

Industrial production declined 2.1 percent on an annual basis in December, which matched economists' expectations. The rate of fall was faster than the 3.8 percent fall seen in November.

On a monthly basis, industrial production edged down a seasonally adjusted 0.1 percent in December, reversing the previous month's 0.5 percent increase.

Driving the overall contraction, manufacturing production fell 3.9 percent annually, faster than the 1.4 percent fall economists had forecast.

Month-on-month, factory output decreased 0.1 percent during the month, as it did in November. Economists had forecast a faster decline of 0.3 percent, data showed.

EUR/USD $1.3325, $1.3500, $1.3550

USD/JPY Y92.00, Y92.50, Y92.75, Y93.00, Y93.50, Y94.00

EUR/GBP stg0.8625, stg0.8660

USD/CHF Chf0.9150, Chf0.9245

EUR/CHF Chf1.2320

AUD/USD $1.0400

The yen rose against the dollar, retreating with the highest level since March 2011, after Japan's Finance Minister Taro Aso told reporters recently, reducing the rate of the national currency was too fast. He added that the government did not expect a sudden drop in rate to 90 yen per dollar. Note also that the yen is sent to its first weekly gain in two months against the euro after European Central Bank President Mario Draghi signaled yesterday that further reductions in interest rates in the region ostaetsya possible.

The Australian dollar rose for the first time in four days against the dollar after the Chinese government announced that exports grew in 2012 by 25 percent compared to the previous year, while imports increased by 28.8%. Recall that China is the largest trading partner of Australia.

Pound went to his highest weekly gain in the last two against the euro on speculation that the Bank of England will refrain from increasing its sumi incentive program.

Sterling rose against the U.S. dollar as market participants are awaiting data on producer prices and retail sales. Recall also that the future of the Bank of England, Mark Carney said that the current monetary policy may be enough to help the economy, while the European Central Bank President Mario Draghi said that the policy will remain accommodative.

00:00 Japan Bank holiday -

00:00 China Bank holiday -

00:30 Australia Home Loans December -0.7% +0.1% -1.5%

The euro touched a two-week low against the dollar on signs the region’s economy is slowing amid political uncertainty in Italy and Spain. Spanish Prime Minister Mariano Rajoy has faced calls to resign after newspaper reports alleged he accepted illegal cash payments. Opinion polls have shown former Italy Premier Silvio Berlusconi, who was convicted of tax fraud last October, closing the gap on front-runner Pier Luigi Bersani ahead of elections on Feb. 24-25.

The 17-nation currency held a three-day loss versus the yen before data forecast to show industrial production in France fell and with finance chiefs from the bloc set to meet in Brussels to discuss aid to Cyprus and Greece. Industrial production in France, Europe’s second-largest economy, probably declined 0.2 percent in December from the previous month, when it rose 0.5 percent, according to the median estimate of economists surveyed by Bloomberg News before the statistics office releases data today.

The yen rose after snapping 12 weeks of declines. Japanese Finance Minister Taro Aso said the currency has been dropping too rapidly before Group of 20 finance chiefs meet this week. The yen’s 14 percent drop against the U.S. dollar in the past three months has spurred criticism from South Korea to Russia that Japan is competitively devaluing its currency. Finance ministers and central bank governors from the Group of 20 nations are scheduled to gather in Moscow Feb. 15-16.

The Australian dollar traded near the lowest since October. The statistics bureau said in Sydney today the number of loans granted to build or buy houses and apartments declined 1.5 percent in December from the previous month when they fell a revised 0.7 percent.

EUR/USD: during the Asian session, the pair traded in the range of $1.3360-80.

GBP/USD: during the Asian session, the pair rose to $1.5805.

USD/JPY: during the Asian session, the pair traded in the range of Y92.35-75.

00:00 Japan Bank holiday -

00:00 China Bank holiday -

00:30 Australia Home Loans December -0.7% +0.1% -1.5%

07:45 France Industrial Production, m/m December +0.5% -0.3%

07:45 France Industrial Production, y/y December -3.6% -2.1%

09:00 Eurozone Eurogroup Meetings -

18:00 U.S. FOMC Member Yellen Speaks -

20:30 New Zealand REINZ Housing Price Index, m/m January -0.6%