Analytics, News, and Forecasts for CFD Markets: currency news — 12-03-2013.

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12.03.2013

18:40

American focus: the yen rose sharply

The yen rose against the dollar, recording with the first fortified in the past five days as an opposition representative said that his party would oppose a candidate for the position of Deputy Governor of the Bank of Japan Iwata, which investors view as the one who stands for easing monetary policy .

The euro fell against the dollar, losing previously won positions on the background that the German Finance Minister Schaeuble said that the lower house

Bundestag may decide to Cyprus next week. The head of the Bundesbank, Weidmann said that inflation remains under control, which was yet

another confirmation that the ECB may decide to further stimulation. We also add that today's report Destatis showed that the annual inflation rate in Germany was 1.5% in February against 1.7% in January. The result coincided with forecasts and was the lowest since November 2010. In monthly terms, rose by 0.6% in February against a 0.5% decline in January, as expected.

The pound reached its weakest level since June 2010 against the dollar after data showed that industrial production unexpectedly declined.

National Bureau of Statistics of the United Kingdom reported that industrial production in January fell by 1.2% compared to the previous month and by 2.9% compared with the same period last year. Reduction in industrial production was due to stop production at another oil field of the North Sea, which damaged oil and gas production, increasing the risk that the economy enters a recession in the third in five years.

Published data were weaker than the forecast of economists, who had expected an increase of 0.1% compared to the previous month and a decrease of 1.1% compared to the same period last year.

The Canadian dollar traded in a range against its U.S. counterpart on concern that strong employment data, which were presented last week, will not be able to put the economy on a sustainable growth path. Recall that, by the end of February the number of employees in Canada rose by a whopping 50,700 people, which was much higher than most analysts' forecasts of 7.8 thousand Note also that such a rebound more than offset the decline of 21,900 jobs, which was recorded in the yanvare.Krome order to add that, compared to the same period last year, employment in Canada has increased by 336,200, or 1.9%. Note that the main driving force that has helped to significantly increase the number of jobs was the service sector, which accounts for the bulk of the Canadian economy. Note that in this area the number of workers increased by 59,300 jobs.

15:00

United Kingdom: NIESR GDP Estimate, February -0.1%

14:41

Greek industrial production falls for third month

Greece's industrial production decreased for the third consecutive month in January, and at a significantly faster rate than in the previous month, as the crisis-stricken economy slipped further into recession, latest data showed.

Industrial production fell 4.8 percent on an annual basis in January, notably faster than the 0.9 percent decrease seen in December, the Hellenic Statistical Authority said. Production has decreased for the third consecutive month.

Mining and quarrying output plunged 13.9 percent annually, and manufacturing production decreased 2.4 percent. There was a 9.3 percent year-on-year decrease in the production of electricity.

Among the main industrial sub-groups, intermediate goods output dropped 3.3 percent from a year earlier, and capital goods production fell by 17.9 percent. Energy output and consumer durables output declined 6.4 percent and 12.4 percent respectively from a year earlier.

On a monthly basis, industrial output fell 6.4 percent in January after falling 2.2 percent in the previous month, data showed.

13:52

Option expiries for today's 1400GMT cut

EUR/USD $1.2950, $1.2975, $1.3000, $1.3050

USD/JPY Y95.00, Y95.50, Y95.60, Y96.00, Y96.40, Y96.50, Y96.75

EUR/JPY Y124.70

GBP/USD $1.4900, $1.4925, $1.4995, $1.5025

GBP/JPY Y142.00

EUR/CHF Chf1.2200, Chf1.2350

AUD/USD $1.0200, $1.0300, $1.0330

AUD/JPY Y96.00

USD/CAD C$1.0280

13:03

Orders

EUR/USD

Offers $1.3090/100, $1.3060/65, $1.3045/55

Bids $1.2955/50, $1.2935/25, $1.2900, $1.2880, $1.2865-50

GBP/USD

Offers $1.5050/60, $1.5000/10, $1.4980/85, $1.4945/65, $1.4920

Bids $1.4830/20, $1.4800, $1.4790, $1.4760/50

AUD/USD

Offers $1.0400, $1.0380/85, $1.0340/50, $1.0330

Bids $1.0280, $1.0240, $1.0200, $1.0170/60, $1.0150, $1.0120/15

EUR/GBP

Offers stg0.8830, stg0.8800, stg0.8780

Bids stg0.8650, stg0.8575/70

EUR/JPY

Offers Y126.20/30, Y126.10, Y125.80/00, Y125.30/40, Y125.00

Bids Y124.00, Y123.50, Y123.00

USD/JPY

Offers Y97.00, Y96.35/40, Y96.00/10

Bids Y95.30, Y95.10/00, Y94.50

11:43

Germany's Feb inflation confirmed at 1.8%

Germany's EU harmonized inflation for February was confirmed at 1.8 percent, and that remains below the 2-percent mark, the final data published by the Federal Statistical Office showed Tuesday.

The annual rate eased marginally from 1.9 percent in January. The harmonized index of consumer prices gained 0.8 percent from the prior month, in line with flash estimate.

Inflation based on the consumer price index rose to 1.5 percent as initially estimated from 1.3 percent in December. Compared with January, the consumer price index rose by 0.6 percent in February.

The latest data confirmed the preliminary estimate published on February 28.

11:06

UK visible trade gap narrows in January

The UK's trade deficit in goods narrowed unexpectedly in January, the latest figures from the Office for National Statistics showed Tuesday.

The deficit fell to GBP 8.2 billion in January from GBP 8.7 billion in December. This was forecast to increase to GBP 8.95 billion. A year ago, the trade balance recorded a shortfall of GBP 8.1 billion.

According to the statistical office, the decline in deficit was due to an unusually low figure for the balance of trade in oil, with exports up by around GBP 0.3 billion on the previous month and imports down very sharply by more than GBP 1 billion.

At the same time, ONS noted that monthly trade in oil can be volatile. The UK's trade deficit with EU countries widened during the month while trade deficit with non-EU countries narrowed.

Exports of goods decreased 3.5 percent month-on-month to GBP 24.4 billion and imports fell 4.2 percent to GBP 32.6 billion.

The deficit on trade in goods and services was GBP 2.4 billion in January, compared with a deficit of GBP 2.8 billion in December.

10:44

U.K. January industrial output declines unexpectedly

U.K.'s industrial production declined unexpectedly by 1.2 percent month-on-month in January, reversing a 1.1 percent rise in December, the Office for National Statistics said Tuesday. Output was forecast to grow 0.1 percent.

Similarly, manufacturing output slipped 1.5 percent, offsetting the 1.5 percent increase seen in December. Economists had forecast output to remain flat in January.

The annual decline in industrial output accelerated to 2.9 percent in January from 2.1 percent in December. Likewise, manufacturing output dropped at a faster pace of 3 percent, following last month's 1.6 percent fall.

10:19

SPAIN T-BILL AUCTION RESULTS:

- Sold 6-month Letra at avg yield 0.794% (0.859%); Tail 2.6bp (2.1bp)

- Sold 12-month Letra at avg yield 1.363% (1.548); Tail 3.7bp (3.2bp)

10:11