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Analytics, News, and Forecasts for CFD Markets: currency news — 16-08-2012.
After three days of recession, market participants today are still able to achieve a strengthening of the euro. During the first half of the day maintained the pressure on the euro, as market participants were waiting for release of data on consumer price index. After its publication, it became clear that the situation remained the same as the index remained stable and in line with analysts' expectations. But despite this, the market situation started to change gradually in favor of the euro. The attention of many traders immediately switched to the output data for the U.S., which, as expected, were to influence the growth of the dollar. Prior to the publication of the reports the euro gained slightly, while departing from the values of the day. But immediately after the published data showed that the number of building permits has increased markedly in July, and the level of housing starts decreased by 1.1% the euro started to rise rapidly and confidently. Also helped the growth of the single currency presented by the Philadelphia Fed manufacturing index, which fell in August to -7.1 from -12.9 in July. In the end of the session on the euro against the dollar was able to show growth at more than one figure.
Unprecedented movement also spread to other couples. Significant growth was able to show today, the pound sterling. After a bad start to the day, which was caused by the depreciation of currencies against the dollar by 50 points, the pair began their recovery. At first it was due to expectations of data on the level of retail sales, according to which a significant increase was recorded during the month of 0.3% compared to 0.1% in June. As a result of news of the pair managed to recover with minimum values and update with the high of the day. Output data for the United States helped the pair make another rapid spurt that the outcome of the session allowed the pair to show growth at a single figure.
Also notable movement was pleased today the Swiss franc. Its value today, had little impact index value of investors' expectations according to the ZEW and Credit Suisse, which amounted to -33.3 in August, compared with -42.5 in July. But a little more on the value of currency affect U.S. data, which caused the depreciation of the franc against the dollar by about 90 points.
The unusual dynamics of today introduced the Canadian dollar against the U.S. dollar. Surprising is the fact that the currency barely reacted to the economic releases from the United States, and strengthened the beginning only a couple of hours, which was due to the fact that the rating agency Moody's has published its annual report on Canada.
The other major pairs mainly show the same dynamics, which is a marked increase in the exchange rate against the U.S. dollar.
EUR/USD $1.2250, $1.2300, $1.2320, $1.2335, $1.2500
USD/JPY Y78.85, Y78.90, Y79.25, Y79.50
EUR/JPY Y95.00
GBP/USD $1.5550, $1.5730
AUD/USD $1.0445, $1.0480, $1.0510Data
01:00 Australia Consumer Inflation Expectation August +3.3% +2.4%
05:45 Australia RBA Assist Gov Debelle Speaks -
08:30 United Kingdom Retail Sales (MoM) July +0.1% +0.1% +0.3%
08:30 United Kingdom Retail Sales (YoY) July +1.6% +2.8%
09:00 Switzerland Credit Suisse ZEW Survey (Expectations) August -42.5 -33.3
09:00 Eurozone Harmonized CPI July -0.1% -0.5%
09:00 Eurozone Harmonized CPI, Y/Y(finally) July +2.4% +2.4% +2.4%
09:00 Eurozone Harmonized CPI ex EFAT, Y/Y July +1.6% +1.9% +1.7%
The dollar rose to a monthly high against the yen in anticipation of release of the report, which may show that the number of housing starts in the U.S. reached a maximum of four years, and adding evidence that economic recovery is now stable.
The dollar will continue its three-day rise against the euro amid decreasing the prospects that the Federal Reserve will conduct quantitative easing.
The pound has appreciated in relation to all 16 major currencies after data released showed that the level of retail sales in Britain unexpectedly rose last month by 0.3%, compared to 0.1% in June. The yen fell amid rising demand for alternative higher-yielding assets.
The Australian dollar fell against the U.S. dollar, after it became known that the inflation expectations of consumers in August increased by 2.4%, after rising 3.3% in July. Also on the value of the currency it has affected the assistant head of the RBA G. Debellya.
EUR/USD: Trading in the updated a couple of yesterday's low, and slightly recovered and is now trading at $ 1.2280
GBP/USD: pair showed mixed trends, setting a new minimum and updating yesterday's high
USD/JPY: during the course of the session showed steady and rapid growth by setting up at Y79.36
At 12:30 GMT, Canada will announce the amount of transactions in foreign securities and the change in volume production deliveries in June. At 12:30 GMT the U.S. will be provided with a report on the volume of building permits issued and the number of bookmarks of new foundations for July. At the same time there are data on the number of initial claims for unemployment insurance, the number of repeated applications for unemployment benefits in August. At 14:00 GMT the U.S. manufacturing index will be presented to the Philadelphia Fed in August. Also at this time, the U.S. will announce the percentage of late mortgage payments in the second quarter
EUR/USD
Offers $1.2350, $1.2320, $1.2300
Bids $1.2250, $1.2240, $1.2210/00, $1.2150
GBP/USD
Offers $1.5780, $1.5750, $1.5730
Bids $1.5655/50, $1.5635/30, $1.5600
AUD/USD
Offers $1.0570, $1.0550, $1.0520, $1.0500
Bids $1.0450, $1.0430, $1.0400
USD/JPY
Offers Y80.00, Y79.80
Bids Y79.10, Y79.05/00, Y78.80, Y78.50
EUR/JPY
Offers Y98.20, Y98.00, Y97.60
Bids Y97.05/00, Y96.85/80, Y96.70, Y96.55/50, Y96.20
EUR/GBP
Offers stg0.7920, stg0.7900/05, stg0.7850
Bids stg0.7810/00, stg0.7780/75, stg0.7755/50
EUR/USD $1.2250, $1.2300, $1.2320, $1.2335, $1.2500
USD/JPY Y78.85, Y78.90, Y79.25, Y79.50
EUR/JPY Y95.00
GBP/USD $1.5550, $1.5730
AUD/USD $1.0445, $1.0480, $1.0510
01:00 Australia Consumer Inflation Expectation August +3.3% +2.4%
05:45 Australia RBA Assist Gov Debelle Speaks
The yen slid versus all its major counterparts as Asian stocks rose and the extra yield investors receive from U.S. securities climbed to the most in more than six weeks, damping the allure of Japan’s currency. The difference between yields on two-year U.S. Treasuries and similar maturity Japanese government notes was 20 basis points, the most since July 3. Five-year U.S. government debt offered a premium of 59 basis points over its Japanese counterpart, up from this year’s low of 36 basis points.
The dollar touched a one-month high against the yen before U.S. housing data that may curtail prospects for monetary stimulus by the Federal Reserve that tends to debase the greenback. Reports due today are forecast to show new home construction remained near an almost four-year high and building permits increased. The annual pace for U.S. housing starts was probably at 756,000 in July, according to the median estimate of economists surveyed by Bloomberg News before today’s Commerce Department report. That compares with a 760,000 rate in the previous month, the fastest since October 2008. The rate for building permits may have climbed to 769,000 last month from 760,000 in June, a separate poll showed.
New Zealand’s currency was supported after whole-milk powder prices climbed for a second-straight time at auction, according to Fonterra, the world’s largest dairy exporter. The price for October delivery rose 7.3 percent an trade-weighted index on the company’s GlobalDairyTrade website showed. The company accounts for about 40 percent of the global trade in dairy products.
EUR / USD: during the Asian session, the pair traded in a range of $1.2280-$1.2305.
GBP / USD: during the Asian session, the pair traded in the range of $1.5670-90.
USD / JPY: during the Asian session, the pair rose, updated the monthly high.
UK data at 0830GMT sees Retail Sales for July as well as SMMT Car Production data. Food sales in June were hit by the exceptionally wet weather, with the start of the barbecue season a washout, but non-food sales were up 1.2% on the month, boosted by heaving early summer discounting in clothing and footwear. EMU data at 0900GMT sees final HICP for July, which had a preliminary reading of 2.4%. US data starts at 1230GMT with the weekly jobless claims and also Housing Starts data. The weekly EIA Natural Gas Storage data then follows at 1430GMT. Late US data then sees the 2030GMT release of M2 Money Supply.
During yesterday's trading the dollar reached a one month high against the yen amid rising Treasury yields, which reached a maximum of three.
At substantially strengthen the dollar against the euro statement influenced Goldman Sachs Group Inc, under which it became known that the Federal Reserve hold until the revenge of the third round of bond purchases, known as quantitative easing.
An important event of the day, which is expected by many market participants began to yield data on the consumer price index, industrial production index and activity in the manufacturing sector from the Federal Reserve Bank of New York. As it became known volume of industrial production in the U.S. in July increased by 0.6%, compared with a forecast from analysts of 0.5%. At the same time, the consumer price index remained unchanged in June. However, the data output by the index of manufacturing activity has surprised many economists and traders, as in August, he moved into negative territory to the level of -5.9 to 7.39 in July. I would also like to note that positive data a little later was able to please the state of the housing market index from the NAHB, which amounted to 37 in August, compared with 35 in July.
Pound during the day trading in a narrow range. At its price was influenced by data on unemployment, according to which there were reduced to the level of 8.0% to 8.1%. We also learned that the number of applications for unemployment benefits fell in July by 5.9 thousand people, compared with growth of 6.4 thousand in June. At the same time, many analysts expect that figure to grow by 6.3 thousand.
The euro weakened on speculation that the Swiss National Bank sold foreign currency against the backdrop of increasing its foreign exchange reserves to record levels last month.
Canadian dollar finally made a breakthrough below $ 0.99, breaking the barrier a significant number of options that protect this level amid speculation that the North American economic growth will support the country's exports. The course continues to trade below the three-month lows against the dollar.(pare/closed(00:00 GMT +02:00)/change, %)
EUR/USD $1,2286 -0,25%
GBP/USD $1,5679 +0,01%
USD/CHF Chf0,9775 +0,27%
USD/JPY Y78,98 +0,32%
EUR/JPY Y97,03 +0,05%
GBP/JPY Y123,81 +0,33%
AUD/USD $1,0500 +0,13%
NZD/USD $0,8071 +0,26%
USD/CAD C$0,9891 -0,28%
01:00 Australia Consumer Inflation Expectation August +3.3% +2.4%
05:45 Australia RBA Assist Gov Debelle Speaks -
08:30 United Kingdom Retail Sales (MoM) July +0.1% +0.1%
08:30 United Kingdom Retail Sales (YoY) July +1.6%
09:00 Switzerland Credit Suisse ZEW Survey (Expectations) August -42.5
09:00 Eurozone Harmonized CPI July -0.1%
09:00 Eurozone Harmonized CPI, Y/Y (finally) July +2.4% +2.4%
09:00 Eurozone Harmonized CPI ex EFAT, Y/Y July +1.6% +1.9%
12:30 Canada Foreign investment in Canadian securities June 26.11 10.67
12:30 Canada Manufacturing Shipments (MoM) June -0.4% +0.4%
12:30 U.S. Continuing Jobless Claims - 361 365
12:30 U.S. Building Permits, mln July 0.755
12:30 U.S. Housing Starts, mln July 0.760
14:00 U.S. Philadelphia Fed Manufacturing Survey August -12.9 -4.3
22:45 New Zealand PPI Input (QoQ) Quarter II +0.3%
22:45 New Zealand PPI Output (QoQ) Quarter II -0.1%
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