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Analytics, News, and Forecasts for CFD Markets: currency news — 14-03-2012.
The dollar strengthened to an 11- month high against the yen after the Federal Reserve raised its outlook for U.S. growth, reducing expectations the central bank will begin a third round of bond purchases. The Federal Open Market Committee said yesterday it expects “moderate economic growth” and predicted the U.S. unemployment rate “will decline gradually.”
The yen fell for a second day versus the dollar as the extra yield received for holding Treasury two-year notes compared with Japanese debt increased to the most since July. The extra yield investors receive from holding two-year Treasuries instead of Japanese debt widened to 24 basis points, the most since July 28, increasing the attractiveness of dollar assets. There is a “relatively high” correlation between the two-year spread and the dollar-yen exchange rate, Bank of Japan Governor Masaaki Shirakawa has said.
Britain’s pound rallied against most of its major peers as gilt yields rose to the highest in four months.
We are ready to start the easing of conditions in the lending market as early as next week
EUR/USD $1.3000, $1.3010, $1.3050, $1.3100, $1.3110, $1.3140, $1.3150, $1.3170
USD/JPY Y83.50, Y83.00, Y82.50, Y82.00
GBP/USD $1.5700, $1.5780
EUR/CHF Chf1.2050
AUD/USD $1.0400, $1.0550
USD/CAD C$0.9900
Data:
09:30 United Kingdom Claimant count February 6.9 7.0 7.2
09:30 United Kingdom Claimant Count Rate February 5.0% 5.0% 5.0%
09:30 United Kingdom ILO Unemployment Rate January 8.4% 8.4% 8.4%
09:30 United Kingdom Average Earnings, 3m/y January +2.0% +1.9% +1.4%
09:30 United Kingdom Average earnings ex bonuses, 3 m/y January +2.0% +1.9% +1.7%
10:00 Switzerland Credit Suisse ZEW Survey (Expectations) March -21.2 0.0
10:00 Eurozone Harmonized CPI February -0.8% +0.5% +0.5%
10:00 Eurozone Harmonized CPI, Y/Y (finally) February +2.6% +2.7% +2.7%
10:00 Eurozone Harmonized CPI ex EFAT, Y/Y February +1.5% +1.6% +1.5%
10:00 Eurozone Industrial production, (MoM) January -1.1% +0.8% +0.2%
10:00 Eurozone Industrial Production (YoY) January -2.0% -0.7% -1.2%
The dollar strengthened after the Federal Reserve raised its outlook for U.S. growth, reducing expectations the central bank will begin a third round of bond purchases.
The yen fell for a second day versus the dollar as the extra yield received for holding two-year Treasuries over Japanese debt increased to the most since July.
The Federal Open Market Committee said yesterday it expects “moderate economic growth” and predicted the U.S. unemployment rate “will decline gradually.” In its previous statement in January, policy makers said growth would be “modest” and unemployment “will decline only gradually.” The central bank kept its benchmark interest rate target in a range of zero to 0.25 percent, where it’s been since December 2008.
EUR/USD: the pair was limited $1,3030-$ 1,3090.
GBP/USD: the range of of european session was about 100 points.
USD/JPY: the pair showed high above Y83,60.
EUR/USD
Offers $1.3150/55
Bids $1.3055/50, $1.3030/20, $1.3000, $1.2980/70, $1.2950
GBP/USD
Offers $1.5800, $1.5780/85, $1.5750/55
Bids $1.5675/70, $1.5620, $1.5600, $1.5585/80
USD/JPY
Offers Y84.50, Y84.25, Y84.00, Y83.80
Bids Y83.35/30, Y82.85/80, Y82.60, Y82.55/50, Y82.30
Resistance 3: Y85.50 (high of 2011) Resistance 2: Y84.00 (area of Feb'2011 high, psychological level) Resistance 1: Y83.60 (session high) Current price: Y83.55 Support 1: Y83.00 (intraday low) Support 2: Y82.65 (Mar 9 high) Support 3: Y81.90 (area of Mar 13 low and Mar 5 high)
Resistance 3: Chf0.9340 (Jan 25 high)
Resistance 2: Chf0.9300 (high of February)
Resistance 1: Chf0.9275 (session high)
Current price: Chf0.9254
Support 1: Chf0.9220 (Mar 12 high)
Support 2: Chf0.9140 (Mar 13 low)
Support 3: Chf0.9110 (intraday low on Mar 9)
Resistance 3 : $1.5880 (Mar 5-6 high) Resistance 2 : $1.5830 (Mar 8-9 high) Resistance 1 : $1.5750 (intraday low on Mar 9, Mar 13 high, session high) Current price: $1.5720 Support 1 : $1.5690 (intraday low) Support 2 : $1.5650 (session low) Support 3 : $1.5610/00 (Mar 12-13 low, 50,0 % FIBO $1,5230-$ 1,5990)
Resistance 3 : $1.3190 (Mar 13 high) Resistance 2 : $1.3120 (high of american session on Mar 13) Resistance 1 : $1.3090 (sessional a maximum) Current price: $1.3070 Support 1 : $1.3030 (session low) Support 2 : $1.2975 (low of February) Support 3 : $1.2930 (Jan 25 low)
04:30 Japan Industrial Production (MoM) (finally) January +3.8% +2.0% +1.9%
04:30 Japan Industrial Production (YoY) (finally) January -4.3% -1.3%
05:00 Japan BoJ monthly economic report March
The dollar strengthened against most of its major counterparts after Federal Reserve policy makers raised their assessment of the U.S. economy and refrained from additional monetary easing. The Federal Open Market Committee kept the benchmark interest rate target unchanged yesterday at zero to 0.25 percent, where it’s been since December 2008. The central bank said it expects “moderate economic growth” and predicted the unemployment rate “will decline gradually.” In their last statement in January, policy makers said growth would be “modest” and unemployment “will decline only gradually.”
The yen slid to an 11-month low versus the greenback as the yield spread between two-year debt in the U.S. debt and Japan to widened to the most since July, making dollar-based assets more attractive. The yen also dropped as Asian stocks extended a global rally, damping demand for the lower-yielding currency. Japan posted a record 437.3 billion yen deficit in its January current account, the biggest shortfall since comparable data began in 1985, according to a report from the Ministry of Finance last week.
EUR/USD: during the Asian session the pair fell, updated a month's low.
GBP/USD: during the Asian session the pair decreased, receded from yesterday's high.
USD/JPY: during the Asian session the pair rose, updated year’s high.
On Wednesday EMU data at 1000GMT includes industrial output, which is expected to rise 0.6% m/m but fall by a reading of -1.1% y/y and also the final HICP data for February, which should come in at 2.7% y/y (0.5% m/m). UK labour market data is due at 0930GMT and is expected to show the rise in unemployment slowing with a claimant count of 5k and an unchanged unemployment rate. US data starts at 1100GMT with the weekly MBA mortgage applications data. At 1230GMT, US data includes the Current Account and Import/Export Price Index. The weekly EIA Crude Oil Stocks is due at 1430GMT.
Yesterday the dollar gained against the euro and the yen as the Federal Reserve policy makers raised their assessment of the economy as the labor market gathers strength and refrained from more actions to lower borrowing costs. The Federal Open Market Committee, which met in Washington, kept the central bank’s benchmark interest rate target unchanged at zero to 0.25 percent, where it’s been since December 2008. Retail sales in the U.S. rose in February by the most in five months, reflecting broad-based gains that indicate the world’s largest economy is picking up even as gasoline costs climb.
The yen dropped earlier to the weakest level against the dollar in almost 11 months as the Bank of Japan plans to keep using monetary policy as a tool to tackle deflation. The yen weakened earlier after Bank of Japan Governor Masaaki Shirakawa indicated the central bank will keep using monetary policy as a tool to tackle deflation. Shirakawa and his board members kept the benchmark interest rate between zero and 0.1 percent, the central bank said in a statement. Policy makers left the bank’s asset-purchase fund at 30 trillion yen ($360 billion) after unexpectedly boosting bond buying by 10 trillion yen at the Feb. 14 meeting. The measures contributed to weakening the yen and helped boost stocks, Shirakawa told reporters in Tokyo.
EUR/USD: yesterday the pair fell, updated a month's low.
GBP/USD: yesterday the pair rose, closed day above $1.5700.
USD/JPY: yesterday the pair rose, updated year’s high.
On Wednesday EMU data at 1000GMT includes industrial output, which is expected to rise 0.6% m/m but fall by a reading of -1.1% y/y and also the final HICP data for February, which should come in at 2.7% y/y (0.5% m/m). UK labour market data is due at 0930GMT and is expected to show the rise in unemployment slowing with a claimant count of 5k and an unchanged unemployment rate. US data starts at 1100GMT with the weekly MBA mortgage applications data. At 1230GMT, US data includes the Current Account and Import/Export Price Index. The weekly EIA Crude Oil Stocks is due at 1430GMT.
Resistance 3: Y84.50 (Apr 12 high)
Resistance 2: Y84.25 (Apr 13 high)
Resistance 1: Y83.75 (Apr 15 high)
The current price: Y83.26
Support 1: Y82.85 (session low)
Support 2: Y82.65 (low of the American session on Mar 13)
Support 3: Y81.95 (Mar 13 low)
Resistance 3: Chf0.9340 (Jan 25 high)
Resistance 2: Chf0.9300 (Feb 16 high)
Resistance 1: Chf0.9275 (resistance line from Mar 9)
The current price: Chf0.9255
Support 1: Chf0.9225 (session low)
Support 2: Chf0.9185 (low of the American session on Mar 13)
Support 3: Chf0.9140 (Mar 13 low)
Resistance 3 : $1.5805 (high of the European session on Mar 9)
Resistance 2 : $1.5745 (Mar 13 high)
Resistance 1 : $1.5710 (session high)
The current price: $1.5679
Support 1 : $1.5655 (low of the Asian session on Mar 12)
Support 2 : $1.5600 (Mar 12 low)
Support 3 : $1.5530 (Jan 24-25 low)
Resistance 3 : $1.3190 (Mar 13 high)
Resistance 2 : $1.3120 (high of the American session on Mar 13)
Resistance 1 : $1.3090 (session high)
The current price: $1.3066
Support 1 : $1.3050 (Mar 13 low)
Support 2 : $1.3000 (psychological level)
Support 3 : $1.2975 (Feb 16 low)
(pare/closed(00:00 GMT +02:00)/change, %)
EUR/USD $1,3080 -0,52%
GBP/USD $1,5705 +0,46%
USD/CHF Chf0,9232 +0,66%
USD/JPY Y82,87 +0,68%
EUR/JPY Y108,38 +0,15%
GBP/JPY Y130,15 +1,14%
AUD/USD $1,0537 +0,27%
NZD/USD $0,8220 +0,44%
USD/CAD C$0,9887 -0,38%
04:30 Japan Industrial Production (MoM) (finally) January +3.8% +2.0%
04:30 Japan Industrial Production (YoY) (finally) January -4.3%
05:00 Japan BoJ monthly economic report March
09:30 United Kingdom Claimant count February 6.9 7.0
09:30 United Kingdom Claimant Count Rate February 5.0% 5.0%
09:30 United Kingdom ILO Unemployment Rate January 8.4% 8.4%
09:30 United Kingdom Average Earnings, 3m/y January +2.0% +1.9%
09:30 United Kingdom Average earnings ex bonuses, 3 m/y January +2.0% +1.9%
10:00 Switzerland Credit Suisse ZEW Survey (Expectations) March -21.2
10:00 Eurozone Harmonized CPI February -0.8% +0.5%
10:00 Eurozone Harmonized CPI, Y/Y
(finally) February +2.6% +2.7%
10:00 Eurozone Harmonized CPI ex EFAT, Y/Y February +1.5% +1.6%
10:00 Eurozone Industrial production, (MoM) January -1.1% +0.8%
10:00 Eurozone Industrial Production (YoY) January -2.0% -0.7%
12:30 U.S. Current cccount, bln IV quarter -110 -114
12:30 U.S. Import Price Index February +0.3% +0.6%
14:00 U.S. Fed Chairman Bernanke Speaks 0
14:30 U.S. EIA Crude Oil Stocks change 09/03/2012 +0.8
21:00 New Zealand Business NZ PMI February 50.5
21:30 New Zealand ANZ Job Advertisements (MoM) February -2.7%
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