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Analytics, News, and Forecasts for CFD Markets: currency news — 16-10-2012.
The euro rose above $1.30 for the first time in a week amid speculation that Spain is moving toward asking for financial assistance, reducing concern the region’s debt crisis is worsening.
The 17-nation currency strengthened for a fourth day versus the yen after Germany was said by two senior coalition lawmakers to be open to providing Spain a precautionary credit line. Comments by Michael Meister, a deputy caucus leader of German Chancellor Angela Merkel’s Christian Democratic bloc, and Norbert Barthle, her party’s budget spokesman, indicate a rolling back of German resistance to a full sovereign bailout for Spain. Schaeuble cautioned Spain against seeking aid on top of its bank bailout as recently as last month.
The dollar and the yen fell against most of their major counterparts as U.S. industrial production rose more than forecast last month, damping demand for the safest assets. Output at U.S. factories, mines and utilities rose 0.4 percent after a 1.4 percent decline in August that was the biggest since March 2009, the Federal Reserve reported today in Washington.
The Canadian dollar fell against most major peers after Bank of Canada Governor Mark Carney suggested he may reduce his economic outlook and delay raising policy interest rates.
The pound fell against the euro, as inflation in the UK slowed to the lowest level in nearly three years. It is learned that consumer prices in the UK rose by 2.2% compared to the previous year, and an increase of 2.5% in August. Thus, the annual dynamics was the lowest since 2009, which was in line with analysts' forecasts.
EUR/USD $1.2900, $1.2925, $1.2950, $1.3040, $1.3045, $1.3050
GBP/USD $1.5890, $1.6190
AUD/USD $1.0150, $1.0200
EUR/JPY Y100.00
NZD/USD nz$0.8190
EUR/GBP stg0.8055
USD/JPY Y79.40
Data
00:30 Australia RBA Meeting's Minutes -
00:30 U.S. FOMC Member Williams Speaks -
08:30 United Kingdom HICP, m/m September +0.5% +0.4% +0.4%
08:30 United Kingdom HICP, Y/Y September +2.5% +2.2% +2.2%
08:30 United Kingdom HICP ex EFAT, Y/Y September +2.1% +2.1% +2.1%
08:30 United Kingdom Retail Price Index, m/m September +0.4% +0.5% +0.5%
08:30 United Kingdom Retail prices, Y/Y September +2.9% +2.6% +2.6%
08:30 United Kingdom Producer Price Index - Input (MoM) September +1.9% 0.0% -0.2%
08:30 United Kingdom Producer Price Index - Input (YoY) September +1.4% -0.6% -1.2%
08:30 United Kingdom Producer Price Index - Output (MoM) September +0.5% +0.3% +0.5%
08:30 United Kingdom Producer Price Index - Output (YoY) September +1.1% +2.2% +2.5%
08:30 United Kingdom RPI-X, Y/Y September +2.9% +2.6% +2.6%
09:00 Germany ZEW Survey - Economic Sentiment October -18.2 -14.6 -11.5
09:00 Eurozone ZEW Economic Sentiment October -3.8 -1.1 -1.4
09:00 Eurozone Harmonized CPI September +0.4% +0.7% +0.7%
09:00 Eurozone Harmonized CPI, Y/Y (finally) September +2.7% +2.7% +2.6%
09:00 Eurozone Harmonized CPI ex EFAT, Y/Y September +1.5% +1.6% +1.5%
09:00 Eurozone Trade Balance s.a. August 7.2 8.4 9.9
09:30 United Kingdom BOE Inflation Letter October
The euro rose above $ 1.30 for the first time in a week, as the index of sentiment in the business environment in Germany rose more than economists forecast and on speculation that Spain may apply for financial assistance. ZEW Center for European Economic Research in Mannheim said its index of investor and analyst expectations, which aims to predict economic development for the six months rose to -11.5 from -18.2 level in September. Economists forecast that the growth was -14.9 level.
The single currency strengthened for a fourth day against the yen, as the Financial Times reported that Spain found a suitable form to apply for financial aid. The dollar and yen fell against most of its major competitors, before the U.S. will present data on the consumer price index and industrial production, which is expected to rise, causing a damping demand for safer assets.
The pound fell against the euro, as the level of inflation in the UK slowed lowest levels in nearly three years. It is learned that consumer prices in the UK rose by 2.2% compared to the previous year, and an increase of 2.5% in August.
The dollar index (DXY), which measures the currency against the euro, yen, pound, Swiss franc, Canadian dollar and Swedish krona, fell by 0.2% to 79.573.
Also, market participants are waiting for data from the Ministry of Commerce on the level of housing starts, which will be presented tomorrow, and most likely will show growth.
EUR/USD: the pair grown on a figure from the beginning of the present day and is now trading near the maximum
GBP/USD: pair has grown substantially, setting maximum value of $ 1.6121, near which is now
USD/JPY: the pair is trading with an increase of the level of the maximum values of the day
At 12:30 GMT, Canada will announce the amount of transactions with foreign securities and changes in the volume of industrial supplies in August. At 12:30 GMT the U.S. will release the consumer price index, consumer price index excluding prices for food and energy, the Consumer Price Index (not seasonally adjusted), the main consumer price index for September. At 13:00 GMT the U.S. will report for a change in net purchases of long-term U.S. securities by foreign investors, total net purchases of U.S. securities by foreign investors in August. At 13:15 GMT the U.S. will release capacity utilization for September and will announce the change in the volume of industrial production in September. At 20:30 GMT the U.S. to account for changes in the volume of crude oil, according to the API for October. Finish the day at 23:30 GMT Australia output index of leading economic indicators from the Melbourne Institute in August.
EUR/USD
Offers $1.3050, $1.3035/40, $1.3015
Bids $1.2950/40, $1.2920, $1.2900
GBP/USD
Offers $1.6150, $1.6120/25
Bids $1.6025/20, $1.6005/00, $1.5985/75
AUD/USD
Offers $1.0350, $1.0320, $1.0300
Bids $1.0245/40, $1.0220, $1.0205/00, $1.0170, $1.0150
EUR/JPY
Offers Y103.50, Y103.20, Y103.00
Bids Y102.10/00, Y101.80, Y101.55/50, Y101.40
USD/JPY
Offers Y79.80, Y79.50, Y79.00
Bids Y78.70/65, Y78.50, Y78.10, Y78.00
EUR/GBP
Offers stg0.8150, stg0.8102, stg0.8090
Bids stg0.8040, stg0.8025/20, stg0.8005-995, stg0.7980/75
EUR/USD $1.2900, $1.2925, $1.2950, $1.3040, $1.3045, $1.3050
GBP/USD $1.5890, $1.6190
AUD/USD $1.0150, $1.0200
EUR/JPY Y100.00
NZD/USD nz$0.8190
EUR/GBP stg0.8055
USD/JPY Y79.40
Sold E4.864bln vs target E3.5-E4.5bln
Sold 12-month Letra at avg yield 2.823% vs 2.835% prev
Sold 18-month Letra at avg yield 3.022% vs 3.072% prev
E3.4bln 12-month Letra; bid-to-cover 2.71 (2.03)
E1.463bln 18-month Letra; bid-to-cover 3.04 (3.56)
Yesterday the yen weakened against all 16 most-traded counterparts after a report showed that U.S. retail sales in September rose more than expected, which reduced the demand for safe assets. Sales increased by 1.1% m / m in August from a revised value of 1.2% m / m, which was the highest since October 2010. Analysts had forecast an increase of 0.8%.
The euro was little changed against the dollar at a time when data showed that manufacturing activity index of the New York Fed Empire State shows decline in activity for the third month in a row. At the same time, in August, the growth of business inventories in the U.S. has slowed, suggesting that the sudden rise of sales begins to contribute to the devastation of accumulated reserves.
The shared currency touched a one-week high against the yen after German Finance Minister Wolfgang Schaeuble said a Greek default “will not happen.” In addition, Schaeuble urged central banks to monitor the inflation risks associated with excess liquidity. The Minister stressed that we should not forget that the excess liquidity was one of the causes of the financial crisis of 2007-2008.
The focus of market participants summit of EU leaders to be held on 18-19 October in Brussels, which will discuss the problem of possible request for assistance from Spain and providing aid to Greece.
Pound earlier fell against the euro on expectations that inflation in the UK slowed in the last month. The annual rate of inflation in the UK is forecast down to 2.2% in September from 2.5% in August. But is it really so we will know after the publication of official data.
00:30 Australia RBA Meeting's Minutes -
00:30 U.S. FOMC Member Williams Speaks -
The yen declined against most of its major peers as Asian stocks rose and before U.S. data forecast to show improvement in industrial production and housing starts, reducing demand for refuge assets. U.S. industrial production probably increased 0.2 percent in September from the previous month, when it fell 1.2 percent, according to the median estimate of economists surveyed by Bloomberg News before the Fed releases the figures today.
The Japanese currency slid for a fourth day to an almost one-month low against the greenback after Federal Reserve Bank of St. Louis President James Bullard said U.S. growth will pick up next year and push down unemployment.
Demand for the euro was supported before European Union leaders meet this week to discuss measures to contain the debt crisis. The 17-nation euro rose before EU leaders start a two-day summit in Brussels on Oct. 18 amid speculation Spain will ask for a financial bailout. The country is preparing to make request for a rescue and allow the European Central Bank to begin buying its debt, the Financial Times reported, citing an unidentified Spanish economy ministry official.
New Zealand’s dollar slid after data showed annual inflation was the slowest in more than 12 years. Consumer prices in New Zealand rose 0.8 percent in the third quarter from a year earlier, the country’s statistics bureau said in Wellington today. The result was the lowest since the fourth quarter of 1999.
EUR / USD: during the Asian session, the pair traded in the range of $1.2950-75.
GBP / USD: during the Asian session, the pair traded in the range of $1.6060-85.
USD / JPY: during the Asian session, the pair rose to Y78.90, updating monthly high.
Tuesday's calendar gets underway at 0600GMT, with the release of the ACEA September new car registrations. Inflation data is expected on the Continent at 0900GMT, with the release of the EMU September final HICP (%yoy) Perhaps the main European release comes at 0900GMT when Germany's October ZEW survey will be available. In what is a first for the ONS, both UK September consumer and producer inflation data will be published at 0830GMT. At 1230GMT, the day's inflation theme continues with the release of the September Consumer Price Index. The September Industrial Production and Cap Utilization data will be released at 1315GMT. The last scheduled data for the day is released at 1400GMT, when the US October Housing Market Index numbers are expected.
(pare/closed(00:00 GMT +02:00)/change, %)
EUR/USD $1,2945 -0,04%
GBP/USD $1,6071 +0,01%
USD/CHF Chf0,9333 -0,01%
USD/JPY Y78,69 +0,32%
EUR/JPY Y101,90 +0,29%
GBP/JPY Y126,46 +0,34%
AUD/USD $1,0250 +0,19%
NZD/USD $0,8159 -0,60%
USD/CAD C$0,9808 +0,08%00:30 Australia RBA Meeting's Minutes -
00:30 U.S. FOMC Member Williams Speaks -
08:30 United Kingdom HICP, m/m September +0.5% +0.4%
08:30 United Kingdom HICP, Y/Y September +2.5% +2.2%
08:30 United Kingdom HICP ex EFAT, Y/Y September +2.1% +2.1%
08:30 United Kingdom Retail Price Index, m/m September +0.4% +0.5%
08:30 United Kingdom Retail prices, Y/Y September +2.9% +2.6%
08:30 United Kingdom Producer Price Index - Input (MoM) September +2.0% 0.0%
08:30 United Kingdom Producer Price Index - Input (YoY) September +1.4% -0.6%
08:30 United Kingdom Producer Price Index - Output (MoM) September +0.5% +0.3%
08:30 United Kingdom Producer Price Index - Output (YoY) September +2.2% +2.2%
08:30 United Kingdom RPI-X, Y/Y September +2.9% +2.6%
09:00 Germany ZEW Survey - Economic Sentiment October -18.2 -14.6
09:00 Eurozone ZEW Economic Sentiment October -3.8 -1.1
09:00 Eurozone Harmonized CPI September +0.4% +0.7%
09:00 Eurozone Harmonized CPI, Y/Y (finally) September +2.7% +2.7%
09:00 Eurozone Harmonized CPI ex EFAT, Y/Y September +1.5% +1.6%
09:00 Eurozone Trade Balance s.a. August 7.9 8.4
09:30 United Kingdom BOE Inflation Letter October
12:30 Canada Foreign investment in Canadian securities August 6.67 8.72
12:30 Canada Manufacturing Shipments (MoM) August -1.5% +0.5%
12:30 U.S. CPI, m/m September +0.6% +0.4%
12:30 U.S. CPI, Y/Y September +1.7% +1.9%
12:30 U.S. CPI excluding food and energy, m/m September +0.1% +0.2%
12:30 U.S. CPI excluding food and energy, Y/Y September +1.9% +2.0%
13:00 U.S. Net Long-term TIC Flows August 67.0 45.3
13:00 U.S. Total Net TIC Flows August 73.7
13:15 U.S. Industrial Production (MoM) September -1.2% +0.3%
13:15 U.S. Capacity Utilization September 78.2% 78.4%
14:00 U.S. NAHB Housing Market Index October 40 41
23:30 Australia Leading Index August +0.4%
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