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Analytics, News, and Forecasts for CFD Markets: currency news — 14-01-2013.
Today during trading the yen hit its lowest level against the dollar since June 2010, which was due to the fact that the Japanese Prime Minister Shinzo Abe will choose a new head of the central bank, which will support the expansion of monetary easing, which will speed up devaluation of the national currency. Against this background, the currency of Japan, the first time since May 2011 reached the level of 120 yen against the yen. Economists say that, in view of the situation is increasingly likely that further easing from the Bank of Japan will continue. In addition, expectations of increasing inflation target help to increase demand for the yen.
The dollar fell against the euro, after U.S. President Barack Obama said at a news conference that the United States can not afford to debate on the debt limit.
New Zealand's dollar, nicknamed the kiwi, rose against all 16 most-traded counterparts after a report showed that the level of retail spending increased.
The Swiss franc fell as European leaders said that the worst days of the crisis of sovereign debt in the region may have ended. Note that investors use this currency as a safe haven in times of financial crisis.
Pound recorded the 7th-session decline against the euro, while showing the longest decline since October, after the government said it may revise the terms of its membership in the European Union.
European stock markets ended lower Monday as investors awaited a speech by U.S. Federal Reserve Chairman Ben Bernanke, while shares of TNT Express NV plunged after United Parcel Service Inc. said European regulators would block its proposed acquisition of the Dutch package-delivery company.
The Stoxx Europe 600 index fell 0.4% to close at 286.01.
FTSE 100 6,107.86 -13.72 -0.22% CAC 40 3,708.25 +2.23 +0.06% DAX 7,729.52 +13.99 +0.18%
Shares of TNT Express plunged more than 41% and PostNL plummeted nearly 36%, upended as UPS said the European Commission would refuse to approve the U.S. logistics group’s proposed $6.8 billion buyout of TNT Express over competition concerns. PostNL has been attempting to dispose of its nearly 30% stake in TNT.
In Paris, shares of Société Générale SA rose 3.8% and Credit Agricole SA added 3%. Credit Suisse upgraded the French banks to overweight, citing positive effects of 2012 asset disposals and inexpensive valuations relative to peers.
Also higher in Paris, shares of Compagnie de Saint-Gobain SA rose 0.4%. The company said Ardagh Glass Ltd. has made a “binding and irrevocable” offer valued at $1.69 billion for the French conglomerate’s North American unit, which makes glass bottles and jars.
In other deal news, shares of Swatch Group AG rose 4.1% after the Swiss watch company said it paid $750 million for the jewelry and watch brand of Harry Winston Diamond Corp.
European stocks got an early boost after comments from Charles Evans, president of the Federal Reserve Bank of Chicago. Media reports said Evans predicted the U.S. economy will grow by 2.5% in 2013, improving to a 3.5% growth rate for gross domestic product in 2014. Read: Monetary policy needs to boost growth: Fed's Evans
Shares of Volkswagen AG gave up an earlier gain to lose 0.1%. Société Générale said it believes the auto maker will continue to outperform in all major markets, but it did reduce earnings forecasts on the group. Volkwagen’s 2013 earnings before interest and taxes forecast was cut to €14.4 billion from €15.8 billion.
Shares of Eurasian Natural Resources Corp. traded 3.5% higher. Credit Suisse analysts upgraded its rating to outperform from neutral, saying they believe that downside risks are now limited and that there are potential re-rating catalysts this year.
Next support is at Y88.70 (minimum 11 January) and Y87.95 (minimum 10 January)
Sold E7.0bln vs target E6.0bln-E7.2bln
- E3.598bln 3-month BTF, avg yield -0.002% (-0.010%), cover 2.53 (2.35)
- E1.402bln 6-month BTF, avg yield 0.017% (0.000%), cover 3.36(2.86)
- E2.0bln 12-month BTF, avg yield 0.057% (0.035%), cover 2.73 (3.48)
EUR/USD $1.3300, $1.3350, $1.3400
USD/JPY Y88.50, Y89.00, Y89.50
EUR/JPY Y119.00
GBP/USD $1.6100, $1.6130, $1.6200
AUD/USD $1.0510, $1.0550, $1.0600
NZD/USD $0.8300
EUR/USD
Offers $1.3485/90, $1.3450, $1.3420/30
Bids $1.3330/45, $1.3335/20, $1.3310/00, $1.3285/80
AUD/USD
Offers $1.0650, $1.0635/40, $1.0625, $1.0600, $1.0590
Bids $1.0525/20, $1.0480/70, $1.0450
GBP/USD
Offers $1.6220, $1.6200, $1.6180/85
Bids $1.6100, $1.6075/70, $1.6050/35, $1.6010/00, $1.5995/90
EUR/JPY
Offers Y121.00, Y129.50, Y119.65/70
Bids Y119.25/20, Y119.10/00, Y118.50, Y118.00, Y117.50
USD/JPY
Offers Y90.55/60, Y90.50, Y90.30/35, Y89.75
Bids Y89.25/20, Y89.10/00, Y88.75/70, Y88.50 , Y88.30
EUR/GBP
Offers stg0.8350, stg0.8320/25, stg0.8310
Bids stg0.8280, stg0.8250, stg0.8225/20, stg0.8205/00, stg0.8180
Industrial output across the euro zone declined on the month for a third straight period in November as countries in the south of the region recorded a weak performance, in line with declining output seen in separate survey data.
Data from the official European statistical database Eurostat showed industrial output fell 0.3% on the month in November and by 3.7% on the year. The latter fall was the steepest since November 2009 when output slumped 7%.
The weakness of the key sector adds to expectations that the economy struggled again in the final three months of last year, and will likely fail to grow for a third straight quarter.
Concern Over Euro Zone Break Up 'Probably' Gone
'Good Chance' Worst of Crisis Over
Fincl Conditions Better, Should Reach Real Econ at Some Point
Last Rate Decision 'Really Was Unanimous'
Have to Wait and See What Happens, Context Still FragileEUR/USD $1.3300, $1.3350, $1.3400
USD/JPY Y88.50, Y89.00, Y89.50
EUR/JPY Y119.00
GBP/USD $1.6100, $1.6130, $1.6200
AUD/USD $1.0510, $1.0550, $1.0600
NZD/USD $0.8300The yen fell to 2.5-year low against the dollar after the statement of Prime Minister Shinzo Abe, the Bank of Japan should ask to increase employment. Japan's current account deficit in November was 222.4 billion yen ($ 2.5 billion), with projections of 3.5 billion yen, the first deficit in 10 months. Much greater than expected, the deficit of the current account balance in Japan has caused further weakening of the yen against the expectations of the new government's policies. The Japanese government on Friday approved a package of measures to stimulate the economy $ 10.3 trillion yen and promised to strengthen ties with the Bank of Japan as part of efforts to fight deflation and long-term support to the economy. Abe has said repeatedly that the victory over deflation is very important, and expressed the hope that the Bank of Japan has set a target level of inflation 2% from the current 1%. Note that the Japanese currency shows decline for the ninth consecutive week, fixing the most prolonged decline in more than 20 years.
The euro / dollar in Asian and European trading sessions kept after sharp growth in speech Draghi, who allowed the euro / dollar gain 200 points. Currency was little support successful auction of government bonds, the Italian Government to the tune of £ 3, 5 billion with a yield of 1.85%. But in the New York session, the euro / dollar rose sharply, breaking through $ 1.3300 after the publication of the U.S. trade balance. In November, the trade balance registered a deficit of $ 48.7 billion against forecasts of $ 41.3 billion and $ 42.1 billion in October. Also today, the U.S. Commerce Department reported that December import prices reflected the decline of 0.1% m / m and 1.5% y / y
The Swiss franc fell to a four-month low against the euro after a government report showed that consumer prices fell in December, slightly more than expected by experts, at the same time fixing its longest slump in four decades.
The falling pound showed amid evidence that UK industrial output for November showed the dynamics at the level of 0.3% in the month and 2.4% a year, against forecasts of +0.8% and -1.9 %. In addition, production in the manufacturing sector fell by 0.3% and 2.1%, against expectations of +0.5% and -1.3%. NIESR later published a report with the assessment of the British economy, according to which the country's GDP in the 4th quarter decreased by 0.3%, while the UK GDP for the full 2012 has not changed. Meanwhile, for the entire 2011 GDP grew by 0.9%.00:00 Japan Bank holiday -
00:30 Australia ANZ Job Advertisements (MoM) December -2.9% -3.9%
00:30 Australia Home Loans November +0.1% +0.5% -0.5%
The yen fell to the lowest level in more than two years on prospects Japanese Prime Minister Shinzo Abe will select a central bank chief who will expand monetary easing efforts to accelerate the currency’s decline.
The Japanese currency weakened beyond 120 per euro for the first time in 20 months after Abe said he wants someone “who can push through bold monetary policy” as the next governor of the Bank of Japan, which meets next week.
The dollar sank to a more than 10-month low against the euro as Federal Reserve Bank of Chicago President Charles Evans said the U.S. should keep policy accommodative to support the economy. Demand for the greenback was also limited before data tomorrow that may show manufacturing in the New York region failed to expand.
Japan’s markets are shut today for a national holiday.
EUR/USD: during the Asian session, the pair rose to $1.3405.
GBP/USD: during the Asian session, the pair rose to $1.6155.
USD/JPY: during the Asian session, the pair rose to Y89.60.
The European calendar gets underway at 1000GMT, with the release of the EMU November industrial output data. Analysts are looking for industrial production to rise 0.2% on month, down 3.1% on year. At 1100GMT, the EMU November OECD leading indicator numbers will cross the wires. Back on the continent, at 1830GMT, ECB Executive Board member Peter Praet participates in a panel discussion, in Brussels.
00:00 Japan Bank holiday -
00:30 Australia ANZ Job Advertisements (MoM) December -2.9% -3.9%
00:30 Australia Home Loans November +0.1% +0.5% -0.5%
01:20 U.S. FOMC Member Charles Evans Speaks -
10:00 Eurozone Industrial production, (MoM) November -1.4% +0.2%
10:00 Eurozone Industrial Production (YoY) November -3.6% -3.1%
15:30 Canada Bank of Canada Senior Loan Officer IV quarter -15.8
15:30 Canada Bank of Canada business outlook future sales IV quarter 0.0
18:00 New Zealand REINZ Housing Price Index, m/m December +1.4%
21:00 U.S. Fed Chairman Bernanke Speaks -
21:00 New Zealand NZIER Business Confidence IV quarter 8
21:45 New Zealand Food Prices Index, m/m December -0.8%
21:45 New Zealand Food Prices Index, y/y December -0.6%
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