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Analytics, News, and Forecasts for CFD Markets: currency news — 14-02-2012.
Euro fell against the dollar amid concerns of investors regarding the provision of Greece second package of financial assistance. Previously, support for the single currency had data on economic expectations in the euro area and in Germany, as well as successful placement of debt securities of the Governments of Italy and Spain. In particular, the index of economic expectations of the Center for European economy (ZEW) in the euro zone rose in February compared with January, by 24.4 points - down to minus 8.1 points. This indicator of investor confidence in the economy of Germany in February rose by 27.0 points to 5.4 points. The indicator was plus first time since May 2011. These data were significantly better than forecasts of analysts who had expected an average growth rate for Germany to minus 15 points. However, the positive statistics and successful debt auctions failed for a long time to return to the growth of European currency: the evening it became cheaper again in anticipation of meeting the working group of finance ministers in the eurozone. It is expected that it was at this meeting european politics take a key decision - whether or not to unlock the second package of financial aid to Greece. Formally, the decision should be made the Eurogroup, which will meet on Wednesday, after a meeting of the working group. Earlier, the British newspaper Financial Times reported that the February 15 european politics may defer a decision on financial help Greece, asking her government to provide more detailed explanations of how they intend to implement cost-saving measures. At the beginning of the day the single currency was under pressure because of the decision by Moody's downgrade ratings of Italy, Portugal, Spain, Slovakia, Slovenia and Malta, as well as to reduce the forecast for first-class rating "AAA" France, Britain and Austria.
The yen fell after the Bank of Japan eased monetary policy by increasing the program of buying assets. Bank of Japan eased monetary policy on Tuesday, expanding the purchase of the assets of 10 trillion yen (130 billion dollars) to 65 trillion yen due to the increasing political pressure for more decisive action to curb deflation and facilitate the economic impact of a strong national currency. Central Bank also said that he sees the purpose of establishing its policy on the level of consumer inflation of 1 percent.
European stocks declined, paring the Stoxx Europe 600 Index’s biggest rally in a week, after Moody’s Investors Service downgraded six euro-area countries, including Italy, Spain and Portugal. Moody’s said it may strip the U.K. and France of their top Aaa ratings, citing the euro area’s crisis. Spain was downgraded to A3 from A1 yesterday, Italy to A3 from A2 and Portugal to Ba3 from Ba2, all with negative outlooks. Slovakia, Slovenia and Malta also had their ratings lowered.
German investor confidence increased in February more than economists had forecast, rising to a 10-month high. The ZEW Center for European Economic Research in Mannheim said its index of investor and analyst expectations, which aims to predict economic developments six months in advance, rose to 5.4 from minus 21.6 in January. Economists had predicted a gain to minus 11.8.
National benchmark indexes declined in all of the 18 western-European markets today except Italy. The U.K.’s FTSE 100 Index slipped 0.1 percent, while Germany’s DAX Index fell 0.2 percent. France’s CAC 40 Index lost 0.3 percent.
ThyssenKrupp dropped 3.8 percent to 21.07 euros after reporting a loss before interest and taxes of 33 million euros, compared with a profit of 261 million euros a year earlier.
TDC, Denmark’s largest phone company, slid 4.3 percent to 43.28 euros as its private-equity investors sold 750 million euros of stock in a sale arranged by Morgan Stanley.
Nokia rose 2.1 percent to 3.84 euros after Nokia Siemens Networks’ CEO, Suri, did not rule out an IPO of the joint venture between Siemens AG and Nokia, Capital magazine reported, citing an interview.
Deutsche Boerse added 2.4 percent to 49.94 euros after the German bourse operator posted a fourth-quarter profit amid lower costs and higher sales while announcing a stock buyback and dividend.
U.S. stocks declined, driving benchmark indexes down from near three-year highs, as American retail sales growth trailed economists’ estimates and investors watched Europe’s attempts to tame its debt crisis.
Equities slumped as the 0.4 percent gain in January retail sales was half the 0.8 percent rise median forecast of economists. German Finance Minister Wolfgang Schaeuble said Europe is better prepared for a Greek default than two years ago. European governments will decide “soon” on a second Greek aid program, European Union Economic and Monetary Commissioner Olli Rehn said.
Dow 12,830.67 -43.37 -0.34%, Nasdaq 2,915.63 -15.76 -0.54%, S&P 500 1,344.84 -6.93 -0.51%
Bank of America (ВАС) lost 2.7 percent, the biggest decline in the Dow, to $8.03. Citigroup downgraded the shares to “neutral” from “buy.”
Goodyear Tire & Rubber Co. fell 5.4 percent to $13.22. Fourth-quarter profit excluding some items was 3 cents a share, the Akron, Ohio-based company said. That trailed the 21-cent average of seven analyst estimates compiled by Bloomberg. The drop in volume of tires sold reduced revenue by $174 million, Goodyear said.
Masco dropped 12 percent, the most in the S&P 500, to $11.61. It reported a fourth-quarter loss from continuing operations of 9 cents a share, wider than the average analyst estimate of a loss of 2 cents.
Gap Inc. rallied 2.6 percent to $22.29. Citigroup raised its recommendation for the largest U.S. specialty apparel chain to “buy” from “neutral” and also lifted its share-price estimate to $26 from $24.
Boeing Co. (BA) added 0.7 percent to $75.35. The planemaker signed a 230-aircraft order worth $22.4 billion at list prices from Indonesian budget carrier PT Lion Mentari Airlines, setting a record.
The price of gold fluctuates on a background of negative rating actions the agency Moody’s for a number of European countries and the publication of the index of economic expectations in the euro area in February, which was significantly better than analysts' forecasts.
Investors reacted positively to reports that the index of economic expectations in the euro zone rose in February compared with January, by 24.4 points - down to minus 8.1 points.The index for Germany rose this month by 11.9 points - to 40.3 points. This indicator of investor confidence in the economy of Germany in February rose by 27.0 points to 5.4 points. Thus, the data were significantly better than forecasts of analysts who had expected to average growth rate for Germany to minus 15 points.
At the same time a negative factor in reducing the cost of precious metal, are the news from Europe, where on Monday night international agency Moody’s rating changed a number of European countries downward. Thus, the ratings of Italy, Spain and Malta downgraded to "A3", Slovenia and Slovakia - to "A2", the forecast - "negative". Ratings of Austria, France and Britain affirmed at 'AAA', outlook downgraded to "negative." Moody’s rating actions follow the assessment agencies Fitch and Standard & Poor's, which in January also reduced the credit ratings of several European countries.
At the same time, investors continue to feel the tension due to the unstable situation in Greece. On Tuesday, the British business publication Financial Times reported that European politicians can not decide to unlock the second package financial help Greece at a rate of 130 billion euros at the Eurogroup meeting on Wednesday because of the attitude of the authorities in Germany and the Netherlands, which still are critical in the matter Greece, another providing a package of loans.
The cost of the February gold futures on the COMEX is trading today in the range of 1715.2 - 1724.9 per ounce.
Oil advanced to a three-week high in New York as sales at U.S. retailers climbed, signaling economic growth and more fuel demand.
Futures gained for a second day after the government reported that U.S. retail sales increased 0.4 percent in January. Oil also rose after the ZEW Center for European Economic Research in Mannheim said its index of investor and analyst expectations rose to 5.4 in February from minus 21.6 in the previous month.
Oil for March delivery gained 68 cents, or 0.7 percent, to $101.59 a barrel at 10:45 a.m. on the New York Mercantile Exchange. The price reached $101.84, the highest since Jan. 19. Prices are 2.8 percent higher this year.
Brent oil for March settlement rose 6 cents to $117.99 a barrel on the ICE Futures Europe exchange. The March contract expires today. Brent for April fell 5 cents to $117.34.
EUR/USD $1.3075, $1.3220, $1.3250, $1.3300
AUD/USD $1.0600, $1.0750, $1.0800
USD/JPY Y77.00, Y77.50, Y78.00
Data:
09:30 United Kingdom HICP, m/m January +0.4% -0.5% -0.5%
09:30 United Kingdom HICP, Y/Y January +4.2% +3.6% +3.6%
09:30 United Kingdom HICP ex EFAT, Y/Y January +3.0% +2.0% +2.6%
09:30 United Kingdom Retail Price Index, m/m January +0.4% -0.4% -0.6%
09:30 United Kingdom Retail prices, Y/Y January +4.8% +4.1% +3.9%
09:30 United Kingdom RPI-X, Y/Y January +5.0% +4.2% +3.9%
10:00 Germany ZEW Survey - Economic Sentiment February -21.6 -11.6 5.4
10:00 Eurozone ZEW Economic Sentiment February -32.5 -21.1 -8.1
10:00 Eurozone Industrial production, (MoM) December -0.1% -1.1% -1.1%
10:00 Eurozone Industrial Production (YoY) December -0.3% -1.2% -2.0%
The euro advanced as Italian and Spanish borrowing costs dropped at debt sales even after Moody’s Investors Service lowered the two countries’ credit ratings.
The common currency strengthened as a German report showed investor confidence increased more than economists forecast.
The ZEW Center for European Economic Research in Mannheim said its index of German investor confidence climbed to a 10- month high of 5.4 from minus 21.6 in January.
The euro pared gains versus the dollar amid concern the region’s debt crisis will worsen.
Greece’s gross domestic product dropped 7 percent from a year earlier in the fourth quarter after contracting a revised 5 percent on an annual basis in the third quarter.
The pound fell for the first time in three days against the euro after Moody’s said Britain risks losing its top credit rating should the economy deteriorate.
EUR/USD: the pair showed low above $1,3200, but receded later.
GBP/USD: the pair showed high in $1,5770 area then decreased in $1,5720 area.
USD/JPY: the pair grown above Y78,00.
Philadelphia Federal Reserve Bank President Charles Plosser speaks to the University of Delaware Center for Economic Education and Entrepreneuship on the economic outlook, in Newark, Delaware at 1345GMT.
GBP/USD
Offers $1.5850/60, $1.5845/50, $1.5825/30,
Bids $1.5715/10, $1.5690/80, $1.5650/40
EUR/USD
Offers $1.3255/60, $1.3225/30
Bids $1.3150/45, $1.3055/50, $1.3030/25
Resistance 3: Y79.50 (high of October)
Resistance 2: Y79.00 (high of November)
Resistance 1: Y78.20 (area of highs of December and January)
Current price: Y78.18
Support 1:Y77.50 (Feb 10 high)
Support 2:Y77.35 (session low)
Support 3:Y77.10 (intraday low on Feb 9)
Resistance 3: Chf0.9260 (Feb 6 high)
Resistance 2: Chf0.9230 (Feb 7 high)
Resistance 1: Chf0.9200 (Feb 10 high, session high)
Current price: Chf0.9152
Support 1: Chf0.9140 (session low)
Support 2: Chf0.9090 (Feb 9 low)
Support 3: Chf0.9060 (low of December)
Resistance 3 : $1.5880 (Feb 9 high)
Resistance 2 : $1.5820 (Feb 13 high)
Resistance 1 : $1.5770 (area of the top border of the down channel from Feb 8 and a session high)
Current price: $1.5738
Support 1 : $1.5680 (session low)
Support 2 : $1.5660 (38,2 % FIBO $1,5230-$ 1,5930)
Support 3 : $1.5640 (Jan 27 low and the bottom border of the down channel from Feb 8)
Resistance 3 : $1.3280 (Feb 13 high)
Resistance 2 : $1.3250 (resistance line from Feb 9)
Resistance 1 : $1.3215 (session high)
Current price: $1.3193
Support 1 : $1.3130 (session low)
Support 2 : $1.3090 (Feb 7 low)
Support 3 : $1.3020 (Feb 6 and 1 lows)
- E4bln of 6.00% 2014 BTP;avg yield 3.41% (4.83%), cover 1.4 (1.22);
- E686mln of 3.00% Nov 2015 BTP; avg yield 3.77%, cover 2.366;
- E1.314bln of 4.00% Feb 2017 BTP; avg yield 4.26%, cover 1.705.
Pace, Extent of cpi fall remain highly uncertain;
- key Uncertainties: wages; profit margin rebuilding;
- key Policy medium-term inflation outlook;
- MPC At Feb meeting saw inflation risks to downside;
- MPC To Pay particular attention to euro area outlook;
- MPC To Focus on spare capacity; inf. expectations.
Pace, Extent of cpi fall remain highly uncertain;
key Uncertainties: wages; profit margin rebuilding;
key Policy medium-term inflation outlook;
MPC At Feb meeting saw inflation risks to downside;
MPC To Pay particular attention to euro area outlook;
MPC To Focus on spare capacity; inf. expectations.
EUR/USD $1.3075, $1.3220, $1.3250, $1.3300
AUD/USD $1.0600, $1.0750, $1.0800
USD/JPY Y77.00, Y77.50, Y78.00
00:01 United Kingdom RICS House Price Balance January -16% -14% -16%
00:30 Australia National Australia Bank's Business Confidence January 3 4
02:45 U.S. FOMC Member Williams Speaks
03:00 Japan BoJ Interest Rate Decision 0.10% 0.10% 0.10%
04:30 Japan Industrial Production (MoM) (finally) December -2.6% +4.0% +3.8%
04:30 Japan Industrial Production (YoY) (finally) December -4.2% -4.1% -4.3%
07:00 Japan BOJ Press Conference
The dollar gained versus all its major counterparts after Moody’s Investors Service cut ratings on European nations including Italy, Spain and Portugal, boosting demand for safer assets. Spain was downgraded to A3 from A1, Italy was cut to A3 from A2 and Portugal was lowered to Ba3 from Ba2, Moody’s said, giving all three nations a negative outlook. The ratings firm also reduced credit levels for Slovakia, Slovenia and Malta. The U.S. currency advanced to its highest level in almost three weeks versus the yen after the Bank of Japan added to monetary easing to sustain the Asian nation’s economy.
The yen dropped against 12 of 16 major peers after the Bank of Japan said today it would increase its purchases of Japanese government bonds by 10 trillion yen ($128 billion). The central bank maintained the overnight lending rate at between zero and 0.1 percent.
The euro declined for a third day against the greenback before European finance ministers meet tomorrow to discuss a second aid package for Greece, following the country’s approval of austerity measures. The euro weakened against the dollar before Italy is scheduled to sell bonds today due in 2014, 2015 and 2017. Spain, Belgium and Greece will auction bills and the Netherlands will offer debt maturing in 2017.
The Australian and New Zealand dollars dropped as Asian stocks declined, curbing risk appetite.
EUR/USD: during the Asian session the pair continued yesterday's decrease.
GBP/USD: during the Asian session the pair fell to $1.5700.
USD/JPY: during the Asian session the pair gain to Y78.00.
A heavy calendar kicks off Tuesday at 0630GMT, when BOJ Governor addresses the press and outlines the decision to extend the central bank's asset purchase program. UK data is released at 0930GMT, with the release of the UK consumer price data. US calendar, kicking off at 1245GMT with the ICSC-Goldman Weekly Mall Sales numbers. At 1330GMT, the monthly retail sales report, Producer Price Index annual revisions and the Import Price Index data all hit traders screens. Also at 1330GMT, Canadian New motor vehicle sales data for December is released. Philadelphia Federal Reserve Bank President Charles Plosser speaks to the University of Delaware Center for Economic Education and Entrepreneuship on the economic outlook, in Newark, Delaware at 1345GMT.
Yesterday the euro pared gains after approaching a two-month high against the dollar. Greek Prime Minister Lucas Papademos won approval from parliament for austerity measures needed to receive a second aid package, which euro-area finance ministers must decide whether to release when they meet Feb. 15. The dollar fell against most of its major counterparts, including the New Zealand dollar and South Africa’s rand, as stocks and commodities rose before reports forecast to show strong U.S. economic growth.
The yen fell against most of its major peers as Japan’s economy shrank at an annualized 2.3 percent pace in the fourth quarter amid slumping exports that undermined a recovery from last year’s record earthquake. The report underscores pressure on Bank of Japan officials meeting to consider more monetary easing as gains in the yen worsen losses for exporting companies such as Sony Corp. and Panasonic Corp. Japan’s Finance Minister Jun Azumi reiterated at a parliamentary budget committee session in Tokyo that he’ll act on excessive and speculative moves in the currency. Japan spent 14.3 trillion yen ($185 billion) in intervention operations last year to stem gains in the currency as it rose to postwar records against the dollar, hurting the nation’s exporters.
EUR/USD: yesterday the pair fell below $1.3200.
GBP/USD: yesterday the pair decreased.
USD/JPY: yesterday the pair fell.
A heavy calendar kicks off Tuesday at 0630GMT, when BOJ Governor addresses the press and outlines the decision to extend the central bank's asset purchase program. UK data is released at 0930GMT, with the release of the UK consumer price data. US calendar, kicking off at 1245GMT with the ICSC-Goldman Weekly Mall Sales numbers. At 1330GMT, the monthly retail sales report, Producer Price Index annual revisions and the Import Price Index data all hit traders screens. Also at 1330GMT, Canadian New motor vehicle sales data for December is released. Philadelphia Federal Reserve Bank President Charles Plosser speaks to the University of Delaware Center for Economic Education and Entrepreneuship on the economic outlook, in Newark, Delaware at 1345GMT.
Resistance 3: Y79.00 (Nov 1 high)
Resistance 2: Y78.30 (Jan 25 high)
Resistance 1: Y77.95 (session high)
The current price: Y77.89
Support 1: Y77.55 (support line from Feb 3)
Support 2: Y77.10 (low of the European session on Feb 9)
Support 3: Y76.70 (Feb 8 low)
Resistance 3: Chf0.9260 (Feb 6 high)
Resistance 2: Chf0.9225 (Feb 7 high)
Resistance 1: Chf0.9200 (Feb 10 high)
The current price: Chf0.9179
Support 1: Chf0.9160 (session low)
Support 2: Chf0.9120 (low of the Asian session on Feb 13)
Support 2: Chf0.9085 (Feb 9 low)
Resistance 3 : $1.3320 (Feb 9 high)
Resistance 2 : $1.3285 (Feb 13 high)
Resistance 1 : $1.3195 (session high)
The current price: $1.3163
Support 1 : $1.3145 (session low)
Support 2 : $1.3090 (Feb 7 low)
Support 3 : $1.3065 (Feb 3 low)
Change % Change Last
Oil $100.64 +1.97 +2.00%
Gold $1,724.60 -0.30 -0.02%
Change % Change Last
Nikkei 225 8,999.18 +52.01 +0.58%
Hang Seng 20,887.4 +103.54 +0.50%
S&P/ASX 200 4,285.14 +39.81 +0.94%
Shanghai Composite 2,351.85 -0.13 -0.01%
FTSE 100 5,905.7 +53.31 +0.91%
CAC 40 3,384.55 +11.41 +0.34%
DAX 6,738.47 +45.51 +0.68%
Dow 12,874.04 +72.81 +0.57%
Nasdaq 2,931.39 +27.51 +0.95%
S&P 500 1,351.77 +9.13 +0.68%
(pare/closed(00:00 GMT +02:00)/change, %)
EUR/USD $1,3185 +0,10%
GBP/USD $1,5765 +0,20%
USD/CHF Chf0,9164 -0,09%
USD/JPY Y77,56 -0,08%
EUR/JPY Y102,28 +0,04%
GBP/JPY Y122,27 +0,12%
AUD/USD $1,0730 +0,68%
NZD/USD $0,8338 +0,89%
USD/CAD C$0,9993 -0,33%
00:01 United Kingdom RICS House Price Balance January -16% -14%
00:30 Australia National Australia Bank's Business Confidence January 3
02:45 U.S. FOMC Member Williams Speaks 0
03:00 Japan BoJ Interest Rate Decision 0 0.10% 0.10%
04:30 Japan Industrial Production (MoM) (finally) December -2.6% +4.0%
04:30 Japan Industrial Production (YoY) (finally) December -4.2% -4.1%
07:00 Japan BOJ Press Conference 0
09:30 United Kingdom HICP, m/m January +0.4% -0.5%
09:30 United Kingdom HICP, Y/Y January +4.2% +3.6%
09:30 United Kingdom HICP ex EFAT, Y/Y January +3.0% +2.0%
09:30 United Kingdom Retail Price Index, m/m January +0.4% -0.4%
09:30 United Kingdom Retail prices, Y/Y January +4.8% +4.1%
09:30 United Kingdom RPI-X, Y/Y January +5.0% +4.2%
10:00 Germany ZEW Survey - Economic Sentiment February -21.6 -11.6
10:00 Eurozone ZEW Economic Sentiment February -32.5 -21.1
10:00 Eurozone Industrial production, (MoM) December -0.1% -1.1%
10:00 Eurozone Industrial Production (YoY) December -0.3% -1.2%
13:30 U.S. Retail sales January +0.1% +0.8%
13:30 U.S. Retail sales excluding auto January -0.2% +0.6%
13:30 U.S. Import Price Index January -0.1% +0.3%
15:00 U.S. Business inventories December +0.3% +0.4%
15:00 U.S. Treasury Sec Geithner Speaks 0
21:45 New Zealand Retail Sales (MoM) IV quarter +2.2% +1.3%
21:45 New Zealand Retail Sales ex Autos (MoM) IV quarter +2.4% +1.1%
22:40 U.S. FOMC Member Dennis Lockhart Speaks 0
23:30 Australia Westpac Consumer Confidence February +2.4%
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