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Analytics, News, and Forecasts for CFD Markets: currency news — 13-11-2012.
The euro touched two-month lows against the dollar and Swiss franc as European finance ministers struggled to agree on how to provide additional aid for Greece.
The 17-nation currency erased losses against the greenback climbed as U.S. stocks rose amid an increase in risk appetite. The dollar and yen gained versus most major peers after euro-area policy makers gave Greece two extra years to lower its budget deficit.
Euro-area finance ministers will reconvene in an “extraordinary meeting” next week to discuss Greece’s financing needs, according to a statement read out by Luxembourg Prime Minister Jean-Claude Juncker at the conclusion of a gathering in Brussels late yesterday. International Monetary Fund Managing Director Christine Lagarde said after the meeting that Greece’s creditors had “different views.”
The finance ministers put off until Nov. 20 a decision on how to cover additional Greek needs of as much as 32.6 billion euros ($41 billion). Lagarde disagreed with a decision by the officials to postpone the goal of getting Greece’s debt down to 120 percent of GDP by two years, until 2022.
A gauge of German investor sentiment unexpectedly fell. The ZEW Center for European Economic Research in Mannheim said its index of investor confidence, which is designed to predict economic developments six months in advance, dropped to minus 15.7, from minus 11.5 in October. Economists forecast an increase to minus 10.
The pound advanced versus most major peers after a report showed U.K. inflation accelerated more than economists forecast in October. U.K. consumer prices rose 2.7 percent from a year earlier, compared with 2.2 percent in September, the Office for National Statistics said in London today. Inflation was forecast to quicken to 2.4 percent.
Enhanced credit line ESM is closely linked to ОМТ
Not limit the extended credit facility ESM
EUR/USD $1.2700, $1.2725, $1.2775, $1.2800
AUD/USD $1.0350, $1.0370, $1.0420, $1.0440, $1.0465, $1.0475, $1.0500
USD/JPY Y79.20, Y79.40, Y79.50, Y80.20, Y80.35
EUR/GBP stg0.8100
AUD/JPY Y82.50, Y82.60Data
00:01 United Kingdom RICS House Price Balance October -15% -15% -7%
04:30 Japan Industrial Production (MoM) (finally) September -1.6% -4.1% -4.1%
04:30 Japan Industrial Production (YoY) (finally) September -8.1% -8.1%
07:45 France Non-Farm Payrolls (preliminary) Quarter III -0.1% -0.2% -0.3%
08:15 Switzerland Producer & Import Prices, m/m October +0.3% +0.2% -0.1%
08:15 Switzerland Producer & Import Prices, y/y October +0.3% 0.0% +0.4%
09:00 Eurozone ECOFIN Meetings -
09:30 United Kingdom HICP, m/m October +0.4% +0.2% +0.5%
09:30 United Kingdom HICP, Y/Y October +2.2% +2.3% +2.7%
09:30 United Kingdom HICP ex EFAT, Y/Y October +2.1% +2.2% +2.6%
09:30 United Kingdom Retail Price Index, m/m October +0.5% +0.2% +0.6%
09:30 United Kingdom Retail prices, Y/Y October +2.6% +2.9% +3.2%
09:30 United Kingdom RPI-X, Y/Y October +2.6% +2.9% +3.1%
09:30 United Kingdom Producer Price Index - Input (MoM) October -0.1% -0.4% +0.4%
09:30 United Kingdom Producer Price Index - Input (YoY) October -1.0% -0.5% +0.1%
09:30 United Kingdom Producer Price Index - Output (MoM) October +0.5% +0.2% +0.1%
09:30 United Kingdom Producer Price Index - Output (YoY) October +2.5% +2.5% +2.5%
10:00 Germany ZEW Survey - Economic Sentiment November -11.5 -10.1 -15.7
10:00 Eurozone ZEW Economic Sentiment November -1.4 0.2 -2.6
10:30 United Kingdom BOE Inflation Letter November
The euro sharply against the dollar, departing from the two-month low, after the German newspaper Bild-Zeitung reported that Germany is for the provision of a single tranche of aid to Greece. Against this background, the single currency regained its early losses against the yen and the Swiss franc. According to the statement, if Greece can get the 44 billion euros (56 billion dollars).
Also recall that the finance ministers of the euro area have given Greece two additional years, to reduce the budget deficit.
The pound strengthened against the euro, breaking a series of two-day decline, after a report showed that inflation in the UK rose in October, much more than economists forecast, as well as in a renewed concerns over Greek debt.
Office for National Statistics said that consumer prices in October to 2.7% in annual terms, though showing the highest value since May. It is projected that inflation would go up to 2.4%.
The pound rose against 14 of its 16 major counterparts after Luxembourg Prime Minister Jean-Claude Juncker said the euro zone finance ministers will meet again next week to decide how to cover the needs of Greece in financing.
EUR / USD: during the European session, the pair set a minimum level of $ 1.2660, and then grew up and is now trading around $ 1.2695
GBP / USD: during the European session, the pair rose to $ 1.5915, but then fell sharply to $ 1.5880
USD / JPY: during the European session the pair fell, setting all-time low at Y79.20, and then showed a sharp increase
At 19:00 in the U.S. Treasury Department released a report on the currency in November, and a monthly performance report for October. At 21:45 GMT New Zealand has announced changes in retail sales, changes in retail sales excluding auto sales, Producer Price Index and the Producer Price Index for Q3. Finish the day at 23:30 GMT Australia data on the index of consumer confidence from Westpac for November.
EUR/USD
Offers $1.2760, $1.2735/40
Bids $1.2660-50, $1.2630/20, $1.2600, $1.2565/60
GBP/USD
Offers $1.6000/10, $1.5980/85, $1.5940/50
Bids $1.5870, $1.5850, $1.5820, $1.5805/00
AUD/USD
Offers $1.0470/90, $1.0460, $1.0445/50
Bids $1.0385/80, $1.0350, $1.0300, $1.0280
USD/JPY
Offers Y80.15/20, Y79.95/00, Y79.85/90, Y79.60/65Bids Y79.25/20, Y79.10, Y79.00, Y78.80
EUR/GBP
Offers stg0.8120, stg0.8100, stg0.8080, stg0.8040, stg0.8031
Bids stg0.7965/60, stg0.7945/40, stg0.7900
EUR/JPY
Offers Y102.00, Y101.75/80, Y101.60, Y101.45/50, Y101.00
Bids Y100.40/30, Y100.20, Y100.00, Y99.80, Y99.50
EUR/USD $1.2700, $1.2725, $1.2775, $1.2800, $1.2850, $1.2900
USD/JPY Y79.00, Y79.30, Y79.40, Y80.00, Y80.50
EUR/JPY Y103.25
GBP/USD $1.6000, $1.6030, $1.6050, $1.6100, $1.5910
EUR/GBP stg0.8000
GBP/CHF Chf1.5230
USD/CHF Chf0.9425
AUD/USD $1.0400, $1.0425, $1.0430, $1.0445
Yesterday the euro traded close to a two-month low against the dollar as a draft policy makers’ report said Greece may require an extra $15 billion during the next two years and there are “very large risks.”
Europe’s shared currency traded at almost a one-month low against the yen after the report about the so-called troika as European leaders prepare to meet to seek a plan to maintain Greece’s solvency. Giving Greece a two-year extension to meet budget targets would ease the impact of austerity measures, the troika said.
The Australian dollar rallied after a bigger- than-estimated trade surplus in China improved prospects for commodity exports. China’s exports exceeded imports by $32 billion in October, the customs administration said Nov. 10, compared with a $27.3 billion trade surplus estimated by economists. China is Australia’s biggest trading partner.
The pound fell amid speculation the Bank of England’s latest growth and inflation projections may lead to more asset purchases. The Bank of England’s quarterly report is due in two days and may provide room for further asset purchases to boost growth. The central bank refrained from adding more stimulus at its most recent policy meeting, minutes from which are due next week.
00:01 United Kingdom RICS House Price Balance October -15% -15% -7%
04:30 Japan Industrial Production (MoM) (finally) September -4.1% -4.1% -4.1%
04:30 Japan Industrial Production (YoY) (finally) September -8.1% -8.1%
The euro fell to a two-month low as finance ministers from the currency bloc struggled to agree on Greek aid, curbing demand for the common currency. The 17-nation euro slid versus most of its major peers after Luxembourg’s Prime Minister Jean-Claude Juncker said the ministers will meet again on Nov. 20 to discuss Greece, putting off a decision on how to cover the nation’s need for additional financing of as much as 32.6 billion euros ($41 billion). Euro-area finance ministers will gather in an “extraordinary meeting” next week to discuss Greece’s financing needs, they said in a statement, read out by Juncker at the conclusion of a meeting in Brussels. The ministers also granted Greece until 2016 to cut the deficit to 2 percent of gross domestic product.
In Germany, the ZEW Center for European Economic Research’s gauge assessing the current economic situation probably fell to 8 this month, according to the median estimate of economists surveyed by Bloomberg News before today’s report. That would be the lowest since June 2010 and compares with a reading of 10 in October. Its index of investor and analyst expectations, which aims to predict economic developments six months in advance, may have recovered to minus 10 in November from minus 11.5 in the previous month, a separate poll showed.
The yen gained against all of its most-traded counterparts, reversing an earlier drop, as Asian shares slid. A report yesterday showed the nation’s economy shrank in the third quarter by the most since last year’s earthquake. Today, the Trade Ministry released final figures on industrial output, which confirmed that it weakened 4.1 percent in September from the prior month, the biggest drop since March 2011.
EUR / USD: during the Asian session the pair fell to $ 1.2670.
GBP / USD: during the Asian session the pair fell to $ 1.5855.
USD / JPY: during the Asian session the pair fell to Y79.20.
The European session starts with French data, as 0745GMT sees the release of the September current account numbers and the third
quarter employment data. At 0900GMT, the latest IEA monthly oil market report is set to cross the wires. The main eurozone release for the day is the German November ZEW survey, with analysts looking for a small increase in sentiment to -10 from -11.5, but a modest slip in current conditions to +8.5 from 10. Also Tuesday, the European Union finance ministers gather at the monthly Ecofin meeting and Greece is likely to feature high up the agenda. UK data gets underway at 0930GMT, with the now joint release of producer and consumer inflation data. In terms of the PPI data, oil prices fell back in October having risen in September, which should have fed through to a fall in input prices. Also expected at 0930GMT are the UK September House Price Index from the ONS and the November Weekly Fuel Prices data. Last up, at 2030GMT, Federal Reserve Vice Chair Janet Yellen speaks to the University of California, Berkely's Haas School, afterwards taking questions from the audience.(pare/closed(00:00 GMT +02:00)/change, %)
EUR/USD $1,2708 -0,02%
GBP/USD $1,5877 -0,11%
USD/CHF Chf0,9481 -0,04%
USD/JPY Y79,50 +0,04%
EUR/JPY Y101,01 +0,01%
GBP/JPY Y126,17 -0,10%
AUD/USD $1,0427 +0,40%
NZD/USD $0,8175 +0,35%
USD/CAD C$0,9998 -0,14%
00:01 United Kingdom RICS House Price Balance October -15% -15% -7%
04:30 Japan Industrial Production (MoM) (finally) September -4.1% -4.1%
04:30 Japan Industrial Production (YoY) (finally) September -8.1%
07:45 France Non-Farm Payrolls (preliminary) Quarter III -0.1% -0.2%
08:15 Switzerland Producer & Import Prices, m/m October +0.3% +0.2%
08:15 Switzerland Producer & Import Prices, y/y October +0.3% 0.0%
09:00 Eurozone ECOFIN Meetings -
09:30 United Kingdom HICP, m/m October +0.4% +0.2%
09:30 United Kingdom HICP, Y/Y October +2.2% +2.3%
09:30 United Kingdom HICP ex EFAT, Y/Y October +2.1% +2.2%
09:30 United Kingdom Retail Price Index, m/m October +0.5% +0.2%
09:30 United Kingdom Retail prices, Y/Y October +2.6% +2.9%
09:30 United Kingdom RPI-X, Y/Y October +2.6% +2.9%
09:30 United Kingdom Producer Price Index - Input (MoM) October -0.2% -0.4%
09:30 United Kingdom Producer Price Index - Input (YoY) October -1.2% -0.5%
09:30 United Kingdom Producer Price Index - Output (MoM) October +0.5% +0.2%
09:30 United Kingdom Producer Price Index - Output (YoY) October +2.5% +2.5%
10:00 Germany ZEW Survey - Economic Sentiment November -11.5 -10.1
10:00 Eurozone ZEW Economic Sentiment November -1.4 0.2
10:30 United Kingdom BOE Inflation Letter November
19:00 U.S. Federal budget October 75.0 -126.2
21:45 New Zealand Retail Sales, q/q Quarter III +1.3% +0.4%
21:45 New Zealand Retail Sales ex Autos, q/q Quarter III +0.9% +0.6%
23:30 Australia Westpac Consumer Confidence November +1.0%
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