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Analytics, News, and Forecasts for CFD Markets: currency news — 11-09-2012.
The dollar fell against 15 of its 16 most-traded currencies in anticipation of the two-day Federal Reserve meeting, which begins tomorrow, and one that is expected to be announced the purchase of bonds to stimulate the economy.
The U.S. currency fell to its lowest level in nearly four months against the euro after ratings agency Moody said it may downgrade the country's rating from Aaa to Aa1, if no measures are taken to reduce the level of U.S. debt.
The euro rose after after the German Constitutional Court has declared that it will not postpone the decision on the European Stability Mechanism, scheduled for Wednesday, denying rumors appeared on the market.
The dollar fell against the euro to its lowest level since May 14, and up to the lowest level since June 1 against the yen.
The single currency rose above its 200-day moving average at $ 1.2835 for the first time since Oct. 31.
The Canadian dollar continued to strengthen the four-day, rising to a 13-month high against its U.S. counterpart, amid optimism that a complex stimulus in the U.S. and Europe will lead to a reduction in volatility.
The New Zealand dollar rose after Fitch Ratings affirmed the country's rating at AA,
The British pound rose to the highest level in four months against the dollar after a report showed that the trade deficit in the UK declined in July, as exports rose, adding signs that the economy is emerging from recession.
The dollar index fell 0.7% to 79.834, after falling to 79.806, which is a minimum of 8 May.
ECB bond purchases will track with a wide range of indicators
Full effect of the 3-year LTRO operations will know about yourself over time
Central banks should not take an undue burden
Our mandate is clear, it should not be questioning
Crisis management is the fulfillment of our mandate
Crisis management - an integral part of the role of the ECB
We need to take into account the risk of going beyond the basic mandate
EUR/USD $1.2750, $1.2720, $1.2700, $1.2625
USD/JPY Y79.00
GBP/USD $1.5950, $1.5805, $1.5700
EUR/GBP stg0.7930, stg0.8000, stg0.8015
AUD/USD $1.0325, $1.0300, $1.0250, $1.0200
NZD/USD $0.8110
Data:
01:30 Australia National Australia Bank's Business Confidence August 4 -2
05:30 France Non-Farm Payrolls (finally) Quarter II -0.1% -0.1% -0.1%
06:00 Japan Prelim Machine Tool Orders, y/y August -6.7% -2.6%
08:30 United Kingdom Trade in goods July -10.1 -8.9 -7.4
The euro rose to its highest level in almost four months against the dollar after the German Constitutional Court has declared that it will not postpone the decision on the European Stability Mechanism, scheduled for Wednesday, denying rumors appeared on the market.
Support for the single currency also had a statement of the prime minister of Finland to the fact that all parties of the country in favor of the preservation of euro membership.
The dollar fell to its lowest level in nearly six weeks against the yen on the eve of a two-day meeting of the Federal Reserve System. Most market participants expect the Fed will begin the third phase of the acquisition of government bonds - "quantitative easing" or QE3, and economists estimate the probability of QE3 at 60 percent.
The New Zealand dollar strengthened against all major currencies after the agency Fitch Ratings affirmed the country's AA.
The British pound rose after the data on the country's trade balance, which showed a sharp narrowing of the trade deficit.
EUR / USD: during the European session, the pair rose to $ 1.2819 and retreated
GBP / USD: the pair grown, reaching a high of $ 1.6037
USD / JPY: the pair dropped to Y77.93
Canada at 12:15 GMT will publish a number of new foundations of bookmarks for August at 12:30 GMT - trade balance for July. At 12:30 GMT the U.S. will trade balance for July, at 20:30 GMT - the change in volume of crude oil, according to API. Finish the day at 23:50 GMT Japan data on the index of activity in the service sector and a change in orders for machinery and equipment for July.
EUR/USD
Offers $1.2855, $1.2850, $1.2820/25
Bids $1.2750, $1.2730/20, $1.2710/00, $1.2690
GBP/USD
Offers $1.6100, $1.6080, $1.6050/60
Bids $1.5970, $1.5960/50, $1.5930/20, $1.5905/00, $1.5880/70
AUD/USD
Offers $1.0450, $1.0420, $1.0400
Bids $1.0280, $1.0250, $1.0215, $1.0170
EUR/JPY
Offers Y100.60/70, Y100.50
Bids Y 99.70, Y 99.10/00, Y 98.80
USD/JPY
Offers Y79.50, Y78.50
Bids Y77.90, Y77.65
EUR/GBP
Offers stg0.8050, stg0.8015/20, stg0.8000
Bids stg0.7970, stg0.7945/40, stg0.7885/80, stg0.7860/50
EUR/USD $1.2750, $1.2720, $1.2700, $1.2625
USD/JPY Y79.00
GBP/USD $1.5950, $1.5805, $1.5700
EUR/GBP stg0.7930, stg0.8000, stg0.8015
AUD/USD $1.0325, $1.0300, $1.0250, $1.0200
NZD/USD $0.8110
01:30 Australia National Australia Bank's Business Confidence August 4 -2
06:00 Japan Prelim Machine Tool Orders, y/y August -6.7% -2.6%
The dollar declined against most of its 16 major peers before the Federal Open Market Committee starts a two-day meeting tomorrow. The Dollar Index (DXY) slid toward a four-month low amid speculation the Federal Reserve will buy bonds in a third round of quantitative easing, or QE, a measure that tends to debase the currency.
Demand for the euro was limited before a report this week which may add to signs of a slowdown in the region’s economy. Economists in a Bloomberg News survey estimate euro-area industrial production declined 3.3 percent in July from a year earlier. The European Union’s statistic office in Luxembourg will report the data tomorrow.
Germany’s Federal Constitutional Court is due to rule tomorrow on the country’s participation in the European Stability Mechanism, a permanent 500 billion-euro ($639 billion) fund that offers loans to member states and may buy their bonds to lower borrowing costs. Germany will be the biggest contributor to the fund with a 27 percent share, a statement from the European Commission shows.
EUR/USD: during the Asian session, the pair recovered after yesterday's decline.
GBP/USD: during the Asian session, the pair rose to yesterday’s high - $1.6015.
USD/JPY: during the Asian session, the pair traded around Y78.20.
Yesterday the euro fell for the first time in four days against the dollar as Greece's coalition failed to reach an agreement on reducing the cost of 11.5 billion euros ($ 14.7 billion), while renewing fears that the debt crisis will continue to worsen.
The single currency fell against most of its 16 major counterparts ahead of the German decision on the rules of the country's participation in the fund saving Europe, which will be announced on September 12.
The Australian dollar fell after a report showed that Japan's economy expanded in the second quarter to two times less than originally expected, thus causing a decline in demand for riskier assets.
Greek Prime Minister Antonis Samaras to meet with officials from the euro zone, the European Central Bank and the International Monetary Fund.
The leader of the Democratic Left Party leaders Fotis Kouvelis, whose party is one of three in the coalition government, said that no decision on the reduction of costs, and that the poorer Greeks must be protected against austerity measures. The three leaders agreed to meet again on September 12, two days before the euro zone ministers will gather in Cyprus to discuss the situation in Greece.
The dollar strengthened against most major currencies in anticipation of the report of the Ministry of Trade, which is expected to show that the U.S. trade deficit widened to $ 44.4 billion in July from $ 42.9 billion in June.
Pound halted a three-day decline against the euro amid concern that the debt crisis in the region will deteriorate, and by signs that the UK economy out of recession. Sterling rose against the euro, even after a report showed that business confidence fell to a record low in August.
(pare/closed(00:00 GMT +02:00)/change, %)
EUR/USD $1,2758 -0,45%
GBP/USD $1,5987 -0,13%
USD/CHF Chf0,9460 +0,20%
USD/JPY Y78,26 +0,06%
EUR/JPY Y99,87 -0,37%
GBP/JPY Y125,11 -0,09%
AUD/USD $1,0334 -0,47%
NZD/USD $0,8086 -0,45%
USD/CAD C$0,9773 -0,13%
01:30 Australia National Australia Bank's Business Confidence August 4 -2
04:00 New Zealand REINZ Housing Price Index, m/m August -0.7%
05:30 France Non-Farm Payrolls (finally) Quarter II -0.1% -0.1%
06:00 Japan Prelim Machine Tool Orders, y/y August -6.7%
08:30 United Kingdom Trade in goods July -10.1 -8.9
12:15 Canada Housing Starts August 209 205
12:30 Canada Trade balance, billions July -1.8 -1.5
12:30 U.S. International trade, bln July -42.9 -44.2
23:50 Japan Core Machinery Orders, y/y July -9.9% -3.6%
23:50 Japan Tertiary Industry Index July +0.1% -0.4%
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