Analytics, News, and Forecasts for CFD Markets: currency news — 15-01-2013.

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15.01.2013

19:20

American focus: the yen appreciated sharply

The yen rose sharply against the dollar, which was associated with the comments of the Japanese economy minister Akira Amari, who noted that an overly weak currency could damage the import and households. Note that the market participants are immediately perceived the news as "a call to action." However, many experts say that now the probability of further action to reduce the value of the yen slightly decreased.

The Swiss franc fell to a 13-month low against the euro, as there are more and more signs that the debt crisis in Europe is waning. Recall that with the improvement of the situation demand for the currency as a refuge sharply. Meanwhile, we note that the Swiss franc reached a level of 1.24 per euro for the first time since December 7, 2011.

The dollar rose against most major currencies, as many investors bought it as a safe asset. Note that the market participants are now pending the issue of the limits of public debt is not the solution of which can seriously harm the economy. U.S. Treasury Secretary Timothy Geithner said yesterday that the debt limit was reached on December 31, and "emergency funds", which are now used by countries to pay the bills, will last only until the beginning of March.

Geithner also warned of serious economic difficulties, if Congress does not approve raising the limit. Recall that in 1960 it had already increased 79 times.

Meanwhile, Fitch Ratings said today that the "failure" in the resolution of this issue may cause to revise the U.S. credit rating, which is currently at AAA.

18:20

European stocks close

European stocks were little changed as concern that debt-ceiling talks will harm the U.S. economy and a report showing weaker-than-forecast German growth offset Spain’s better-than-targeted sale of debt.

IG Group Holdings Plc (IGG) slipped 1.1 percent after saying first-half net trading revenue fell. SAP AG (SAP) sank the most in six months after reporting earnings that trailed estimates. Air Liquide SA dropped 1 percent after Bank of America Corp. cut its recommendation on the stock. Hennes & Mauritz AB (HMB) advanced 3.6 percent after posting sales that beat analyst forecasts.

The Stoxx Europe 600 Index (SXXP) lost less than 0.1 percent to 285.97 at the close of trading.

National benchmark indexes fell in 11 of the 18 western European markets.

FTSE 100 6,117.31 +9.45 +0.15% CAC 40 3,697.35 -10.90 -0.29% DAX 7,675.91 -53.61 -0.69%

IG Group, owner of the IG Index financial spread-betting brand, slipped 1.1 percent to 462.5 pence. The company said first-half net trading revenue fell 14 percent to 169 million pounds ($271.8 million) and pretax profit slid 21 percent to 81.1 million pounds.

SAP sank 3.9 percent to 58.70 euros, the most since July 6. The biggest maker of business-management software reported earnings trailing analysts’ estimates as it increased spending and growth in the Americas slowed. Fourth-quarter operating profit excluding some items rose about 10 percent to 1.96 billion euros, compared with analyst estimates for 2 billion euros.

Air Liquide (AI), a maker of industrial gases, fell 1 percent to 92.15 euros after Bank of America’s Merrill Lynch unit cut its recommendation to underperform from neutral, saying that the “risk/reward” at the shares’ current levels isn’t attractive.

H&M jumped 3.6 percent to 228.20 kronor. Europe’s second- largest clothing retailer reported an increase in sales that beat analysts’ estimates.

Burberry Group Plc (BRBY) advanced 4.6 percent to 1,386 pence. The U.K.’s largest luxury-goods company said third-quarter revenue increased 7 percent to 613 million pounds, exceeding the 601.4 million-pound average of analysts estimates.

15:00

U.S.: Business inventories , November +0.3% (forecast +0.3%)

14:16

US: Retail sales remain strong amid confidence breakdown

Retail sales increased 0.5% in December after increasing an upwardly revised 0.4% (from 0.3%) in November. The Briefing.com consensus expected retail sales to increase 0.2%.

The pickup in retail sales was in-line with the 0.7% aggregate wage gain reported in the December employment situation data. Surprisingly, the negotiations over the fiscal cliff – which caused consumer confidence/sentiment to plunge in December – did not adversely affect consumer spending behavior.

Excluding auto sales, retail sales increased 0.3% in December after falling 0.1% in November and were exactly in-line with the consensus estimate.

The retail sales report was strong across the board. With the exception of a small 0.6% decline in electronics and appliance stores -- which was likely due to slowing demand for the iPhone 5 after the initial release in late October -- and a 1.6% drop in sales at gasoline stations -- which was caused by lower prices and not weaker demand -- all of the retail sectors showed solid sales growth.

Core retail sales -- which exclude the highly volatile auto dealers, building materials and supply stores, and gasoline stations -- increased 0.6% in December and confirm strong consumer demand trends.

13:53

Option expiries for today's 1400GMT cut

EUR/USD $1.3300, $1.3325, $1.3350, $1.3400

USD/JPY Y88.30, Y88.50, Y88.75, Y89.00, Y89.25, Y89.50, Y90.00

AUD/USD $1.0550, $1.0600