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Analytics, News, and Forecasts for CFD Markets: currency news — 13-08-2012.
During the day, the mood of the market was moderately positive. During the first half of trading the euro rose against the U.S. dollar in low trading volume after the economic data were better than expected in Greece, and Italy's auction of treasury bills placement is successful. According to Italy has sold treasury bills to the bag 8 billion euros ($ 9.9 billion). Demand for the dollar was weak on the eve of release of data on the level of retail sales and industrial production, which will be published this week. But despite the significant growth that was more a figure during the European session, the euro is still unable to resist the pressure from sellers in the U.S. session. Ultimately the dollar against the euro to regain 40% of incurred losses during the day.
The pound fell against the euro after the Bank of England Governor Mervyn King said that the debt crisis in the euro area continue to hamper economic growth in the UK. Also on the depreciation of the currency affected by the fact that market participants are waiting for the publication of data on inflation, which is expected to slow to the minimum values for the two and a half years.
The first part of the day the yen rose against most of the 16 major currencies as investors sought safe haven for their assets against the debt crisis in Europe, which negatively affects the growth of the global economy. It is also to strengthen the currency impact data, which showed that Japan's economy grew less than expected. Economic growth in Japan fell to 1.4% per annum in the second quarter compared with a revised 5.5 percent in the first three months of the year. But even after such a building could not hold out a couple of achieved values, and the remainder of the session showed growth, updating the maximum value of the day.
Course of the New Zealand dollar rose as market participants are waiting for the release of data on the level of retail sales that are projected to increase by 0.7%.
Also during the session were also recorded depreciation of the Australian dollar fell against 14 of the 16 major currencies as signs the global economic crisis eroded demand for higher-yielding currencies.
EUR/USD $1.2200, $1.2400
USD/JPY Y78.00, Y78.50, Y78.70
EUR/GBP stg0.7790
EUR/AUD $1.1600
The yen rose against most of the 16 major currencies as investors sought safe haven for their assets against the debt crisis in Europe, which negatively affects the growth of the global economy. It is also to strengthen the currency impact data, which showed that Japan's economy grew less than expected. Economic growth in Japan fell to 1.4% per annum in the second quarter compared with a revised 5.5 percent in the first three months of the year.
At the same time, the euro rebounded against the dollar after Italy had sold treasury bills to the bag 8 billion euros ($ 9.9 billion). Previously, the exchange rate fell, as the ECB Governing Council member Luc Cohen stated that the purchase of bonds in Spain and Italy will not solve the difficulties encountered, and will not affect the growth of investor confidence. Yield increases as financial markets do not trust the Spanish and Italian authorities to take steps to restore their economies.
Demand for the dollar was weak on the eve of release of data on the level of retail sales and industrial production, which will be published this week.
Course of the New Zealand dollar rose as market participants are waiting for the release of data on the level of retail sales, which is expected to grow by 0.7%.
EUR/USD: during the European session, the pair has grown substantially, showing thus an increase of more than one figure, and is now trading at $ 1.2350
GBP/USD: a pair of rose, updating the Friday's high, and is now trading in the area of maximum
USD/JPY: during the European session, the pair fell Y78.15, but then recovered slightly
At 22:45 GMT New Zealand has announced a change in retail sales with and without allowance for vehicle sales for the second quarter. At 23:01 GMT the UK will provide data on the balance of housing prices from the RICS in July. At 23:50 GMT Japan will publish the minutes of the meeting of the Bank of Japan on monetary policy in August. At the same time leaves the index of activity in the services sector in June.
EUR/USD
Offers $1.2385, $1.2365, $1.2345/50
Bids $1.2300, $1.2260, $1.2240
GBP/USD
Offers $1.5800/10, $1.5780, $1.5750, $1.5700/10
Bids $1.5650, $1.5635/30, $1.5600
AUD/USD
Offers $1.0635, $1.0620, $1.0610/15, $1.0600, $1.0575/80
Bids $1.0530, $1.0500, $1.0480/70, $1.0450
EUR/GBP
Offers stg0.7920, stg0.7870/80
Bids stg0.7810/00, stg0.7780/75
USD/JPY
Offers Y79.00, Y78.80, Y78.70, Y78.35/40
Bids Y78.15/10, Y78.00, Y77.50
EUR/JPY
Offers Y97.60, Y97.50, Y96.70, Y96.50
Bids Y96.05/00, Y95.80, Y95.70, Y95.50, Y95.25/20, Y95.00
To date, no major scheduled macroeconomic data. The focus of the market are preliminary findings, published in Japan, which showed that the growth of the economy by 1.4% yoy c April to June 2012, while analysts expected a rate increase of 2.7%. This statistic was another signal of slowing growth in Asian economies after last week's disappointing data on industrial production and trade balance of China.
FTSE 100 5,845.49 -1.62 -0.03%
DAX 6,970.33 +25.77 +0.37%
CAC 3,439.34 +3.72 +0.11%
Shares of Barclays, Royal Bank of Scotland and HSBC Holdings down 0.35%, 0.54% and 0.28% respectively, quotes, UBS AG fell by 0,14%, Deutsche Bank - 0.73%.
Paper BP decreased by 0.36% after the news that the company sells assets to process gas in Texas (USA) for 227.5 million dollars Closing is expected in the IV quarter of this year in obtaining approval from regulatory authorities.
EUR/USD $1.2200, $1.2400
USD/JPY Y78.00, Y78.50, Y78.70
EUR/GBP stg0.7790
EUR/AUD $1.1600
Sold E8.0bln 12-month BOT, average yield 2.767% (2.697%), cover 1.69 (1.55)
23:50 Japan GDP, q/q (preliminary) Quarter II +1.2% +0.3%
The dollar advanced against most of its 16 major counterparts on signs Europe’s debt crisis is weighing on economies across the globe, boosting demand for the relative safety of the U.S. currency. The greenback maintained four days of gains against the euro before reports tomorrow forecast to show gross domestic product grew at a slower pace in Germany and contracted in France. The euro-area economy probably shrank 0.2 percent in the second quarter from the previous three-month period, according to the median estimate of analysts surveyed by Bloomberg before tomorrow’s data. France contracted by 0.1 percent, while German growth slowed to 0.2 percent, separate polls showed.
Data today showed Japan’s economy expanded less than analysts estimated as exports and consumer spending weakened. The pace of economic growth in Japan cooled to an annualized 1.4 percent in the second quarter from a revised 5.5 percent in the first three months of the year, the Cabinet Office said in Tokyo today. The median estimate of 24 economists surveyed by Bloomberg was for a 2.3 percent gain.
Demand for the Australian and New Zealand dollars was tempered as Asian stocks failed to extend a weekly advance that was the biggest since January.
EUR/USD: during the Asian session the pair was traded in range $1.2260-$1.2300.
GBP/USD: during the Asian session the pair was traded in range $1.5660-$1.5680.
USD/JPY: during the Asian session the pair rose, stepping back from Friday's low.
European data for Monday starts at 0600GMT with German wholesale prices data for June, which is followed at 0645GMT by June current account data from France. There is also a German government press conference at 0930GMT. The US also holds three and six month bill auctions today. UK data is limited to CML Mortgage Approvals at 0830GMT.
After the decline of the euro against the dollar in the first half of the day, the rate rose sharply, updating the maximum value of the day. Most likely this increase was caused by rumors that the People's Bank of China may reduce the reserve requirements for commercial banks. Such a move the authorities in China is quite logical, given the recent weak data on industrial production and inflation, as well as the deteriorating situation on international markets.
The yen rose against most major currencies as investors sought refuge after data showed that China's exports grew by 1% in July, compared with growth of 11.3% in June, prompting concern that global economic growth slows. Economists forecast that export growth of 8%.
The Australian dollar fell against most currencies on fears of a slowdown in China, which is an important trading partner for Australia. But despite this, during the session, the exchange rate could be restored almost to the level of opening day.
During the course of the day more than half of the Canadian dollar declined against the dollar, thus showing the first drop in six days. It is learned that the number of employed fell by 30,400 jobs in July and the unemployment rate rose to 7.3%. But at the end of the session, the pair could be strengthened by upgrading with yesterday's low.22:45 New Zealand Retail Sales, q/q Quarter II -1.5% +0.7%
22:45 New Zealand Retail Sales ex Autos, q/q Quarter II -2.5% +1.0%
23:01 United Kingdom RICS House Price Balance July -22% -23%
23:50 Japan Monetary Policy Meeting Minutes -
23:50 Japan Tertiary Industry Index June +0.7% -0.3%
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