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Analytics, News, and Forecasts for CFD Markets: currency news — 16-11-2012.
The dollar rose for the first time in three days against the euro because of the departure of investors in asset-seekers awaiting the outcome of talks between President Barack Obama and U.S. lawmakers on fiscal cliff.
The leaders of the U.S. Congress, leaving the White House after the completion of negotiations on the issue of the fiscal cliff, said that the discussion was "constructive" and laid the foundation for further progress.
The dollar index extended its fourth weekly gain as between Israel and the Hamas military conflict erupted. Israel expanded its bombing of the Gaza Strip and Palestinian rockets hit areas around Jerusalem and Tel Aviv. The Israeli army said it has deployed tanks near the Gaza border, and called up reservists.
The yen strengthened against most of its 16 major counterparts on speculation that the decline this week was too fast. Recall that the yen fell on Thursday, when the leader LDPYA Shinzo Abe, who is likely to become the next prime minister of Japan, continued to put pressure on the Bank of Japan to a more aggressive easing of monetary policy.
Later, the Japanese yen has lost previously won positions after the elections in Japan were scheduled for December.
The euro traded little changed against the Swiss franc at 1.2049 francs after the head of the Swiss National Bank Thomas Jordan said that the franc is highly inflated and harm the Swiss economy.
EUR/USD $1.2700, $1.2750, $1.2800, $1.2850
GBP/USD $1.5900
AUD/USD $1.0300, $1.0400
USD/JPY Y80.50, Y81.00, Y81.25, Y81.50
EUR/GBP stg0.8000, stg0.8020
NZD/USD Nz$0.8225
Data
09:00 Eurozone Current account, adjusted, bln September 10.9 9.2 0.8
09:45 Switzerland SNB Chairman Jordan Speaks -
10:00 Eurozone Trade Balance s.a. September 8.9 10.6 11.3
The dollar rose for the first time in three days against the euro as investors sought safe-haven amid concerns regarding the talks between U.S. President Barack Obama and U.S. lawmakers to avoid so-called "financial failure."
The dollar index also rose in anticipation of the release of the report, which is expected to show that industrial production in the U.S. expanded at a slower pace last month.
The yen strengthened against all currencies on speculation that the decline this week was too fast.
Swiss franc fell after the head of the Swiss National Bank Thomas Jordan said that the exchange rate remains too high, creating a burden on the economy.
The pound rose to a two-week low against the euro on speculation that the decline this week was excessive, given that the UK has a better economic prospects than the euro zone. Sterling strengthened for the first time in six days against the euro ahead of a meeting of eurozone finance, to be held next week, and which will aim to discuss the situation with the level of debt in Greece.
EUR / USD: during the European session, the pair set a minimum level of $ 1.2725, and then rose to $ 1.2745
GBP / USD: during the European session the pair fell set the high and low of $ 1.5890 and $ 1.5845, respectively, and then rose to $ 1.5875
USD / JPY: during the European session, the pair dropped to Y80.88, then recovered to Y81.15
At 13:30 GMT, Canada will provide a report on the volume of transactions with foreign securities in September. At 14:00 GMT the U.S. will be known about the long-term net purchases of U.S. securities by foreign investors in September, as well as the total net purchases of U.S. securities by foreign investors in September. Ended the week at 14:15 GMT U.S. data on capacity utilization and changes in industrial production in October.
EUR/USD
Offers $1.2850, $1.2805/10, $1.2760/65
Bids $1.2720/15, $1.2705/00, $1.2680, $1.2655/50
GBP/USD
Offers $1.5980/85, $1.5940/50, $1.5900
Bids $1.5830/25, $1.5810/00, $1.5780, $1.5750
AUD/USD
Offers $1.0420, $1.0395/00, $1.0375/80, $1.0350/55
Bids $1.0300, $1.0280, $1.0250, $1.0200, $1.0180
EUR/JPY
Offers Y104.50, Y104.00, Y103.65/70
Bids Y103.00, Y102.70, Y102.50, Y102.25/20
USD/JPY
Offers Y81.50, Y81.40/45
Bids Y80.80/70, Y80.50/40, Y80.20, Y80.00
EUR/GBP
Offers stg0.8150, stg0.8120, stg0.8100, stg0.8080, stg0.8075
Bids stg0.8005/00, stg0.7965/60, stg0.7945/40, stg0.7900
EUR/USD $1.2700, $1.2750, $1.2800, $1.2850
GBP/USD $1.5900
AUD/USD $1.0300, $1.0400
USD/JPY Y80.50, Y81.00, Y81.25, Y81.50
EUR/GBP stg0.8000, stg0.8020
NZD/USD Nz$0.8225
The yen slumped to the lowest in more than six months against the dollar on speculation Japanese elections next month will hand power to an opposition party that advocates more aggressive monetary easing.
Japan’s currency weakened against all of its 16 most-traded counterparts on speculation the vote will favor Shinzo Abe, who called for the central bank to provide unlimited stimulus.
The dollar declined against the euro as U.S. jobless claims rose and a regional manufacturing index decreased amid the devastation left by Hurricane Sandy. The dollar weakened as applications for jobless benefits surged by 78,000 to 439,000 in the week ended Nov. 10, the most since April 2011, the Labor Department said today in Washington. Several states said the increase was due to the storm that hit the Northeastern part of the U.S. in late October.
The Federal Reserve Bank of Philadelphia’s general economic index decreased to minus 10.7 in November from 5.7 a month earlier. A reading of zero is the dividing line between expansion and contraction in the area covering eastern Pennsylvania, southern New Jersey and Delaware, which was hard hit by Sandy. A separate report showed the consumer-price index rose 0.1 percent, matching the median estimate of 83 economists, following a 0.6 percent gain the prior month, the Labor Department reported in Washington.
In the euro area, data showed the economy slipped into a recession for the second time in four years. Gross domestic product in the region slipped 0.1 percent in the third quarter after a 0.2 percent decline in the previous three months, the European Union’s statistics office in Luxembourg said today. From the year-earlier period, GDP dropped 0.6 percent.
The pound fell to a 10-week low versus the dollar as data showed U.K. retail sales slid. Britain’s pound fell for a second day against the euro after data showed retail sales including fuel dropped 0.8 percent in October from September, when they gained a revised 0.5 percent. The median forecast was for a 0.1 percent decline.
The yen headed for its biggest weekly drop in almost five months on speculation Japan’s opposition party will take power after elections next month and increase pressure on the central bank to expand monetary easing.
The yen held yesterday’s steepest slide in two months versus the euro before Japanese Prime Minister Yoshihiko Noda dissolves parliament today. Prime Minister Yoshihiko Noda will dissolve parliament today, triggering an election on Dec. 16 that polls suggest his ruling Democratic Party of Japan will lose. Shinzo Abe, the leader of the main opposition Liberal Democratic Party, said yesterday the BOJ should pursue unlimited monetary stimulus to end deflation and revive the economy. Japan’s government today downgraded its view of the economy for a fourth month, the longest streak since the global financial crisis. Gross domestic product shrank last quarter at the fastest pace since 2011’s record earthquake.
The dollar headed for a five-day decline against the 17-nation currency before data forecast to show U.S. industrial production growth slowed, supporting the case for the Federal Reserve to continue stimulus measures. In the U.S., output at factories, mines and utilities probably rose 0.2 percent in October, after gaining 0.4 percent in the prior month, according to the median estimate of economists in a Bloomberg poll before the data release today. Reports due on Nov. 20 are expected to show existing-home sales, housing starts and residential permits all declined in October.
Fed Chairman Ben S. Bernanke said yesterday the U.S. central bank will take action to speed growth and a rebound in the nation’s housing market.
Singapore’s dollar fell after the government said growth this year will be at the lower end of its previous forecast.
EUR/USD: during the Asian session, the pair traded in the range of $1.2760-85.
GBP/USD: during the Asian session, the pair traded in the range of $1.5855-65.
USD/JPY: during the Asian session the pair fell, retreating from yesterday's highs.
The calendar quietens down considerably Friday, getting underway just ahead of 0700GMT with the release of the latest John Lewis weekly store sales data. European data continues at 0900GMT, with the release of the ECB's September current account numbers. Further eurozone data is expected at 1000GMT, when the October trade balance numbers cross the wires. Also at 1000GMT, SNB chainman Thomas Jordan is slated to speak, in Zurich. At 1030GMT, ECB Governing Council member Jens Weidmann participates in a conference hosted by Sueddeutsche Zeitung, in Berlin.
(pare/closed(00:00 GMT +02:00)/change, %)
EUR/USD $1,2780 +0,35%
GBP/USD $1,5859 +0,13%
USD/CHF Chf0,9419 -0,31%
USD/JPY Y81,15 +1,13%
EUR/JPY Y103,72 +1,47%
GBP/JPY Y128,72 +1,27%
AUD/USD $1,0330 -0,44%
NZD/USD $0,8091 -0,12%
USD/CAD C$1,0008 -0,31%
09:00 Eurozone Current account, adjusted, bln September 8.8 9.2
09:45 Switzerland SNB Chairman Jordan Speaks -
10:00 Eurozone Trade Balance s.a. September 9.9 10.6
13:30 Canada Foreign investment in Canadian securities September 6.90 7.45
14:00 U.S. Net Long-term TIC Flows September 90.0 75.0
14:00 U.S. Total Net TIC Flows September 91.4
14:15 U.S. Industrial Production (MoM) September +0.4% +0.3%
14:15 U.S. Capacity Utilization September 78.3% 78.4%
20:45 U.S. FOMC Member Dennis Lockhart Speaks
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