Analytics, News, and Forecasts for CFD Markets: currency news — 16-02-2012.

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16.02.2012

19:34

American focus: euro rose

The euro rose after German newspaper Die Welt reported that the European Central Bank is exchanging Greek bonds for new securities, bolstering speculation Greece will get its second bailout. The ECB is swapping its 50 billion-euro ($66 billion) Greek government bond holdings for new Greek bonds, Die Welt reported, citing unidentified central bank officials. The swap will be completed by Feb. 20, it said. An ECB spokesman declined to comment on the report.

The dollar erased gains against a majority of its most- traded counterparts after a report showed manufacturing in the Philadelphia area expanded by the fastest in four months and initial jobless claims fell to the lowest in four years.

The pound was the best performer against the dollar as consumer confidence improved in January. Nationwide Building Society said its U.K. sentiment index climbed to 47 in January from 38 the previous month. A gauge of consumers’ outlook for the economy jumped by 14 points, the Swindon, England-based customer-owned lender said.

18:57

European stocks close:

European stocks were little changed, paring earlier losses, as better-than-estimated U.S. economic data outweighed a delay in the bailout of Greece.

Europe’s creditor countries struggled to reach an agreement over a rescue of Greece, seeking more control over how future aid is spent as the country faces the threat of default over a bond payment due on March 20. Policy makers will discuss a second bailout on Feb. 20.

Moody’s said it is reviewing the credit ratings of 17 banks and securities firms with capital-markets operations, which may result in downgrades. The announcement comes days after the company cut the ratings of six European nations including Spain and lowered its outlook on France.

Spain and France today sold 14.2 billion euros ($18.5 billion) in their first auctions since the euro-area downgrades by Moody’s, getting more demand than the amount they offered. The yield on France’s benchmark two-year notes fell, while Spanish borrowing costs rose.

National benchmark indexes declined in 9 of the 18 western European markets today. France’s CAC 40 gained 0.1 percent, while Germany’s DAX lost 0.1 percent each. The U.K.’s FTSE 100 slipped 0.1 percent. Spain’s IBEX 35 Index fell 2.1 percent.

Spain’s stock-market regulator lifted a six-month ban on short-selling of financial stocks. Banco Santander SA lost 2.6 percent to 6.29 euros, while Banco Bilbao Vizcaya Argentaria SA slid 4.1 percent to 6.80 euros. Bankia SA tumbled 7.3 percent to 3.09 euros.

ABB fell 3.6 percent to 19.20 Swiss francs. The world’s largest maker of power-distribution equipment reported less- than-expected profit in the fourth quarter and said price pressure may weigh in on profitability in the first quarter.

Nestle, the world’s biggest food company, climbed 2.1 percent to 55.60 francs after posting 2011 sales growth that beat analyst estimates and forecast higher 2012 earnings as it introduces new products.

18:02

U.S. stocks rose

U.S. stocks rose, after a two-day drop in the Standard & Poor’s 500 Index, amid better-than- estimated economic data and optimism on Greece bailout efforts.

Stocks rose as a report showed that manufacturing in the Philadelphia region expanded in February at the fastest pace in four months as new orders and sales picked up. Claims for jobless benefits unexpectedly dropped last week to the lowest level in four years. Builders broke ground on more homes than forecast in January, helped by warmer weather and adding to signs the U.S. residential real estate market is stabilizing.

Stock extended gains as Germany’s Die Welt newspaper reported that the European Central Bank is swapping its 50 billion euro Greek government bond holdings for new Greek bonds, citing unidentified central bank officials.

Dow 12,880.32 +99.37 +0.78%, Nasdaq 2,945.39 +29.56 +1.01%, S&P 500 1,354.14 +10.91 +0.81%

Bank of America (ВАС) added 3 percent to $8.01.

Microsoft (MSFT), the world’s largest software maker, gained 3 percent to $30.95.

GM surged 6.7 percent to $26.60. North America earnings before interest and taxes more than tripled for the year to $7.19 billion. The automaker’s Europe business, including the Opel brand, lost $747 million for the year.

NetApp rallied 5.2 percent to $42.97. The maker of data- storage products said revenue in the third quarter was $1.57 billion, above the average analyst estimate of $1.56 billion. The company said it won a record number of new customers and significantly increased the amount of units shipped.

Amazon.com Inc. sank 3.7 percent to $177.71. The shares fell after Scott Devitt, an analyst at Morgan Stanley, cut the rating to “equal-weight,” meaning the total return is expected to be in line with the average total return of the analyst’s industry or industry team’s coverage universe, on a risk- adjusted basis, over the next 12-18 months.

17:32

Oil advanced in New York

Oil advanced in New York on a report that the European Central Bank is exchanging Greek bonds for new securities.

Oil rebounded from a 0.9 percent decline on the German newspaper Die Welt’s report that the European Central Bank is swapping its 50 billion euro Greek government bond holdings for new Greek bonds. The report, which cited unidentified central bank officials, said the bond swap will be completed by Feb. 20.

Oil for March delivery rose to $102.69 on the New York Mercantile Exchange, after dropping as low as $100.84. The contract yesterday rose to $101.80, the highest settlement since Jan. 10.

Brent oil for April settlement gained 97 cents, or 0.8 percent, to $119.90 a barrel on the ICE Futures Europe exchange.

17:13

EURO-DOLLAR: Vaults $1.3100 now as the euro gans a fresh head of steam in the wake of the report that eurosystem is swapping old Greek bonds for new, presumed a precursor to the PSI deal.

Large stops eyed $1.3120, under assault.

16:41

EUR/USD Euro updated daily low of $1.3084

16:35

Gold depreciates against the dollar strengthening

The price of gold falls against the dollar strengthening, associated with deferred a decision on the allocation of financial assistance to Greece.

On Wednesday, it became known that the Eurogroup agreed to discuss the issue of unblocking the second package of financial aid to Greece in the amount of 130 billion euros at the meeting on Monday, February 20. However, it is unknown whether financial assistance is allocated in whole or in part.

Investors are concerned that European politicians continue to put off the decision, while the period when Greece has to pay 14.5 billion euros of bonds or declare a default, is approaching.

The growth of the U.S. currency to the euro support and negative rating actions the agency Moodys for a number of financial institutions in Europe. On Thursday it became known that in the list for review with the possibility of lowering the ratings are placed 114 European banks and their subsidiaries. In addition, Moody's downgraded the financial strength ratings of five major European insurers, including the Italian Assicurazioni Generali SpA; downgraded the ratings of three more companies in the sector, including giants such as AXA SA and Aviva Plc.

The cost of the February gold futures on the COMEX today fell to 1707.0 dollars per ounce.