Analytics, News, and Forecasts for CFD Markets: currency news — 15-03-2012.

ATTENTION: The content in the news and analytics feed is updated automatically, and reloading the page may slow down the process of new content appearing. We recommend that you keep your news feed open at all times to receive materials quickly.

Filter by currency

15.03.2012

18:41

American focus: the yen and the Swiss franc climbed

The yen climbed from an 11-month low against the dollar as investors wagered that its largest four-day decline since November may have happened too quickly. The Japanese central bank unexpectedly added 10 trillion yen ($120 billion) to its asset-purchase program at its Feb. 14 meeting and Governor Masaaki Shirakawa indicated the central bank will keep using monetary policy as a tool to tackle deflation on March 13. The Federal Reserve raised its outlook for U.S. growth at its meeting the same day, reducing expectations of a third round of bond purchases.

The pound weakened for the first time in three days against the euro after Fitch Ratings said the U.K. risks losing its top investment grade. The U.K. currency fell against 11 of its 16 major counterparts after Fitch changed its rating outlook yesterday on Britain to negative, citing a weak recovery and high debt levels. Fitch said its decision “reflects the very limited fiscal space to absorb further economic shocks in light of such elevated debt levels and a potentially weaker than currently forecast economic recovery.” The U.K. government is implementing the biggest squeeze on government spending since World War II as it attempts to reduce the nation’s deficit.

The Swiss franc climbed from a seven-week low against the dollar as the Swiss National Bank predicted the economy will expand 1 percent this year, twice as much as its previous estimate. Policy makers led by interim Chairman Thomas Jordan, maintained their ceiling for the currency at 1.20 francs per euro, and pledged to defend the cap with their “utmost determination.” The SNB forecast that consumer prices will fall 0.6 percent this year, before inflation returns in 2013 with a rate of 0.3 percent, accelerating to 0.6 percent in 2014.

17:06

IMF/GREECE: The Executive Board of the International Monetary Fund (IMF) today approved a four-year SDR 23.8 billion (about E28 billion, or US$36.7 billion) arrangement under the Extended Fund Facility (EFF) for Greece in support

The

approval allows for an immediate disbursement of SDR 1.4 billion (about 1.65 billion, or US$2.2 billion).

16:46

EUR/USD Euro updated daily high and raised in the area of $ 1.3090

14:20

Orders

EUR/USD

Offers $1.3150/55, $1.3120/25

Bids $1.3030, $1.3000, $1.2980/70, $1.2950, $1.2930

AUD/USD

Offers $1.0645/50, $1.0600/20, $1.0555/60

Bids $1.0445/40, $1.0400

USD/JPY

Offers Y84.75, Y84.50, Y84.25, Y83.70

Bids Y83.00, Y82.85/80, Y82.55/50, Y82.30

14:00

U.S.: Philadelphia Fed Manufacturing Survey, March 12.5 (forecast 11.8)

13:03

U.S.: Total Net TIC Flows, January 18.8 (forecast 40.0)

13:03

U.S.: Net Long-term TIC Flows , January 101.0 (forecast 29.3)

12:51

European session: The Swiss franc strengthened for the first time in four days

Data:

06:45 Switzerland SECO Economic Forecasts Quarter II

08:30 Switzerland SNB Interest Rate Decision 0 0.25% 0.25% 0.25%

08:30 Switzerland SNB Monetary Policy Assessment 0

09:00 Eurozone ECB Monthly Report March

10:00 Eurozone Employment Change IV quarter -0.1% -0.2% -0.2%

11:30 United Kingdom MPC Member Dr Ben Broadbent Speaks 0

The Swiss franc strengthened for the first time in four days against the euro after the central bank raised its growth forecast at a policy meeting. The currency climbed from a seven-week low against the dollar as the Swiss National Bank predicted the economy will expand 1 percent this year, twice as much as its previous estimate. Policy makers led by interim Chairman Thomas Jordan, maintained their ceiling for the currency at 1.20 francs per euro, and pledged to defend the cap with their “utmost determination.”
The SNB forecast that consumer prices will fall 0.6 percent this year, before inflation returns in 2013 with a rate of 0.3 percent, accelerating to 0.6 percent in 2014. The Zurich-based central bank kept its benchmark interest rate at zero as predicted by all economists.
Fitch Ratings said Britain risks losing its top investment grade because of its limited ability to deal with shocks, days before Chancellor of the Exchequer George Osborne will present his annual budget. Fitch changed the outlook on Britain to “negative” from “stable,” indicating a “slightly greater” than 50 percent chance that the AAA rating will be reduced within two years, the company said in a statement in London late yesterday, citing the weak economic recovery, high debt levels and threats from Europe’s debt crisis. Osborne will meet coalition partners later this week to agree on a budget he will present on March 21.

EUR/USD: the pair holds in range $1,3035-$ 1,3070.
GBP/USD: the pair holds in range $1,5630-$ 1,5675.
USD/JPY: the pair receded from high Y84,15.

A busy US data schedule starts at 1230GMT with the Producer Price Index, weekly initial jobless claims and also the NY Fed Empire State Survey. Producer prices are expected to rise 0.5% in February after soft readings in the previous two months. After falling recently, both energy and food prices are expected to rebound in February. The core PPI is expected to rise 0.2% after the 0.4% jump in January. Initial jobless claims are expected to fall 5,000 to 357,000 in the March 10 week after rising 8,000 in the previous week. Claims have remained in a tight range in recent weeks. The NY Fed Empire State Manufacturing Index is expected to fall to a reading of 18.0 in March after jumping to a reading of 19.53 in February. This is followed at 1300GMT by the latest TICS report and then at 1345GMT by the weekly Bloomberg Comfort Index and at 1400GMT by the Philadelphia Fed index, which is expected to rise further to a reading of 11.5 in March after rising to 10.2 in February.