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Analytics, News, and Forecasts for CFD Markets: currency news — 11-07-2012.
During the American session, the euro declined against the dollar on the eve of publication of the protocol of the last meeting of the Committee on the Federal Open Market. After the announcement of the results of the dollar rose sharply, by updating the prospect that a two-year maximum. This news also contributed to other currencies. Pounds during the entire session is rapidly decreased, and after the publication of minutes of FOMC meetings close to the minimum values of the previous day. Australian Dolar bargained kept during the session, but fell sharply in connection with the release of data from the Fed. The yen today fell sharply before the publication of the protocols, but almost no reaction to the published data and is now trading in the area reached maximum values.
The protocols cover the meeting, passed on June 19-20
Several members of the "in favor of the adoption of new measures, only if the recovery is stalled more
The leaders still disagree on future Fed actions
The tightening of fiscal policy in the United States could damage the prospects for growth
Managers expect that the economic problems will weaken over time
Most managers have seen some signs of slower economic growth
Some leaders believe the recent weakness of the time
Almost all managers expect inflation at 2% or lower in the medium term
The nearest resistance level of Y79.66 (MA (200) for H1)
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
At the moment the pair retreated and is trading at around Y79.20
Data
06:00 Germany CPI, m/m (finally) June -0.2% -0.1% -0.2%
06:00 Germany CPI, y/y (finally) June +2.3% +1.7% +2.0%
The dollar weakened amid speculation minutes of last month’s Federal Reserve meeting will show the central bank is moving closer to expanding its stimulus program, boosting demand for higher-yielding currencies.
The U.S. currency slid against all but one of its 16 major peers. The Fed, led by Chairman Ben S. Bernanke, has already bought $2.3 trillion of bonds in two rounds of so-called quantitative easing, or QE, from December 2008 to June 2011, seeking to cap borrowing costs and stimulate the economy. The 17-nation euro dropped to a record low versus Australia’s dollar as data showed German inflation slowed.
The pound reached the strongest level since November 2008 versus the euro as concern legislation needed for Europe’s permanent bailout fund will be delayed boosted demand for the relative safety of the U.K. currency.
Sterling gained versus the dollar after a report yesterday showed U.K. factory output unexpectedly increased in May, easing speculation that the economy is worsening. Germany’s top court said yesterday a decision on whether to suspend legislation for the euro bloc’s permanent bailout fund and fiscal treaty could take months rather than weeks due to the complexity of the ruling.
EUR / USD: during the European session, the pair rose to $ 1.2295, then stepped back, and is now trading at $ 1.2267
GBP / USD: a pair of updated intraday high $ 1.5577
USD / JPY: during the session, the pair has updated intraday low Y79.15
At 12:30 GMT in Canada and the United States will balance the foreign trade balance for May. At 14:30 GMT the United States publish data on stocks of crude oil from the Ministry of Energy in July. At 17:00 GMT the U.S. puts 10-year bonds. At 18:00 GMT will publish the minutes of the Fed.
EUR/USD
Offers $1.2380, $1.2350/60, $1.2330/35, $1.2310, $1.2290/300
Bids $1.2235/25, $1.2220, $1.2200, $1.2170/75
EUR/GBP
Offers stg0.8020/25, stg0.8010, stg0.8000/05, stg0.7980/85, stg0.7925/35
Ордера на покупку stg0.7880/70, stg0.7855/50, stg0.7810/00
USD/JPY
Offers Y80.10, Y80.00, Y79.90, Y79.75/80, Y79.50
Bids Y79.20, Y79.00
EUR/JPY
Offers Y98.50, Y98.20, Y98.00, Y97.50
Bids Y97.00, Y96.60/50
AUD/USD
Offers $1.0400, $1.0350, $1.0330/35, $1.0290/00
Bids $1.0220, $1.0180/75, $1.0150
GBP/USD
Offers $1.5620/25, $1.5600/10, $1.5580
Bids $1.5480/70, $1.5450, $1.5400
-- Italy is fighting war against prejudice against it
-- Italy has not given up sovreignty, control
-- Italy playing important role in resolution of crisis
-- Italy performing among best in terms of deficit
-- Spread is not justified by economic fundamentals
-- Has "no doubt" that benefits will be seen
Resistance 3: Y80.02 (Jul 5 high)
Resistance 2: Y79.77 (Jul 9 high)
Resistance 1: Y79.66 (MA(200) for Н1)
Current price: Y79.23
Support 1: Y79.20 (area of session low and Jul 10 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: Chf0.9815 (Jul 10 high)
Current price: Chf0.9776
Support 1: Chf0.9735 (Jul 10 low)
Support 2: Chf0.9645 (MA (200) for H1)
Support 3: Chf0.9580 (Jul 5 low)
Germany alloted E4.153bln of the 10-year benchmark 1.75% July 2022
Bund issue at record low average yield 1.31% (1.52%), bid-to-cover ratio of 1.5 (1.4).
Resistance 3: $ 1.5690 (Jul 4 high)
Resistance 2: $ 1.5620 (Jul 5 high)
Resistance 1: $ 1.5590 (MA (200) for H1)
Current Price: $ 1.5563
Support 1: $ 1.5520 (session low)
Support 2: $ 1.5470 (Jun 9 low)
Support 3: $ 1.5400 (Jun 8 low)
Resistance 3: $ 1.2540 (Jul 5 high)
Resistance 2: $ 1.2455 (MA (200) for H1)Resistance 1: $ 1.2335 (Jul 10 high)
Current Price: $ 1.2279
Support 1: $ 1.2230 (Jul 10 low)
Support 2: $ 1.2145 (Jun 2010 low)
Support 3: $ 1.2000 (psychological level)
Increases the value added tax from 18% to 21%
In addition, the tax will be increased pollution
The size of the budget measures will be 65 billion euros, the duration of the course of reforms - 2.5 years
Salaries of civil servants will be reduced, and bonuses at the end of the year canceled
The number of employees in the legislative field will be reduced
The system of calculation of unemployment benefits will be reviewed.
Mariano Rahoy also noted that Spain is quite difficult, as it is undergoing the second largest in the recession in its history. He called on Brussels soon to fulfill the agreements reached during the summit and on the direct recapitalization of local banks to reassure market participants. He also expressed satisfaction with the conditions attached to aid.
Yield of 10-year Spanish bonds decreased by 2.7 pips. to 6.71% on the news.
EUR/USD $1.2200, $1.2230, $1.2245, $1.2250, $1.2300, $1.2350
USD/JPY Y79.25, Y79.50, Y79.80, Y80.00
EUR/JPY Y96.25, Y97.50
GBP/USD $1.5500, $1.5540
USD/CHF Chf0.9800
AUD/USD $1.0200, $1.0150
EUR/AUD A$1.2000
00:30 Australia Westpac Consumer Confidence July 95.6 99.1
01:30 Australia Home Loans May +0.2% +0.9% -1.2%
The yen remained stronger against the dollar after a three-day gain on signs Europe’s debt crisis is hurting growth and on bets Japan’s central bank will refrain from adding stimulus to temper the currency’s appreciation. Ten of 17 analysts surveyed by Bloomberg News expect no change at the end of the two-day Bank of Japan meeting tomorrow. The central bank last week raised the economic assessment of all nine regions for the first time since October 2009.
Japan’s currency touched a one-month high against the euro after Germany’s top court signaled deliberations may be longer on a case that may decide the fate of the region’s bailout mechanism. Germany’s Federal Constitutional Court in Karlsruhe heard arguments yesterday on whether to put German approval of the European Stability Mechanism and fiscal pact on hold until it rules on the legality. Both houses of parliament approved the new laws on June 29 with a two-thirds majority. German President Joachim Gauck withheld his signature due to legal challenges that were discussed at the hearing.
The 17-nation euro was 0.3 percent from a record low versus Australia’s dollar as data showed German inflation slowed and ahead of a report forecast to show euro-area manufacturing stagnated. In Germany, a final reading of consumer price inflation in June, calculated using a harmonized European Union method, was at 2 percent, the Federal Statistics Office in Wiesbaden said today. That would be the lowest rate since January 2011 and unchanged from the level indicated in the preliminary reading released June 27.
Demand for the U.S. dollar was limited before the Federal Reserve releases minutes of its June 20 gathering.
EUR / USD: during the Asian session the pair was trading near yesterday's low.
GBP / USD: during the Asian session the pair gain.
USD / JPY: during the Asian session the pair fell to yesterday’s low.
Scheduled European data starts at 0600GMT with Germany final HICP data for June, while at 0645GMT, France current account data for May is due. At 0930GMT, the German government gives a press conference in Berlin,while at 1000GMT the OPEC monthly report is due and at 1100GMT, the ECB publishes a report on the international role of the euro. In European bond issuance, Germany re-opens its 10-year benchmark 1.75% July 2022 Bund issue for up to E5.0bln. Back in Europe at 1300GMT, ECB Governing Council member Ewald Nowotny is due to attend a bill signing, in Vienna.
US data starts at 1100GMT with the MBA Mortgage Application Index, while at 1230GMT, the international trade gap is forecast to narrow to $48.5 billion in May. US data continues at 1400GMT with Wholesale Inventories, followed at 1430GMT by the weekly EIA Crude Oil Stocks data. Also today, the US auctions 9-year 10-month notes, while at 1800GMT, the latest FOMC Meeting Minutes are due.
Resistance 3: Y80.10 (Jul 5 high )
Resistance 2: Y79.65 (MA (100) H1, MA (200) H1)
Resistance 1: Y79.50 (MA (50) H1)
Current price: Y79.30
Support 1: Y79.10/20 (area of Jul 10 high and Jun 29 high)
Support 2: Y78.80 (Jun 20 low)
Support 3: Y78.60 (Jun 15 low)
Resistance 3: Chf0.9895 (Sep 23 high 2010)
Resistance 2: Chf0.9845 (Oct 1 high 2010)
Resistance 1: Chf0.9815 (Jul 10 high)
Current price: Chf0.9797
Support 1: Chf0.9775 (MA (50) H1)
Support 2: Chf0.9635 (Jul 10 low, MA (100) H1)
Support 3: Chf0.9685 (Jul 6 low, MA (200) H1)
Resistance 3: $ 1.5585 (MA (200) H1)
Resistance 2: $ 1.5545 (Jul 10 high)
Resistance 1: $ 1.5530 (session high)
Current Price: $ 1.5514
Support 1: $ 1.5475 (Jul 10 low)
Support 2: $ 1.5460 (Jul 6 low)
Support 3: $ 1.5400 (Jun 8 low)
Resistance 3: $ 1.2400 (psychological level)
Resistance 2: $ 1.2335 (Jul 10 high, MA (100) H1)
Resistance 1: $ 1.2285 (MA (50), H1)
Current Price: $ 1.2259
Support 1: $ 1.2234 (Jul 10 low)
Support 2: $ 1.2200 (psychological level)
Support 3: $ 1.2156 (Jun 29 low 2010)
(pare/closed(00:00 GMT +02:00)/change, %)
EUR/USD $1,2252 -0,50%
GBP/USD $1,5515 -0,05%
USD/CHF Chf0,9800 +0,50%
USD/JPY Y79,40 -0,20%
EUR/JPY Y97,28 -0,70%
GBP/JPY Y123,18 -0,24%
AUD/USD $1,0191 -0,15%
NZD/USD $0,7939 -0,34%
USD/CAD C$1,0225 +0,33%
00:30 Australia Westpac Consumer Confidence July 95.6 99.1
01:30 Australia Home Loans May +0.2% +0.9% -1.2%
06:00 Germany CPI, m/m (finally) June -0.2% -0.1%
06:00 Germany CPI, y/y (finally) June +2.3% +1.7%
12:30 Canada Trade balance, billions May -0.4 -0.5
12:30 U.S. International trade, bln May -50.1 -48.6
14:00 U.S. Wholesale Inventories May +0.6% +0.4%
14:30 U.S. Crude Oil Inventories - -4.3
18:00 U.S. FOMC meeting minutes -
22:45 New Zealand Business NZ PMI June 55.7
22:45 New Zealand Food Prices Index, m/m June +0.3%
22:45 New Zealand Food Prices Index, y/y June -0.2%
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