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Analytics, News, and Forecasts for CFD Markets: currency news — 17-02-2012.
The euro strengthened against most of its major counterparts on optimism European leaders will agree to release bailout funds for Greece on Feb. 20. The euro pared gains against the dollar as the Greek government drew up legislation that could be used to impose losses on investors who don’t support a debt swap. Italian Prime Minister Mario Monti, German Chancellor Angela Merkel and Greek Prime Minister Lucas Papademos expressed optimism that an “agreement on Greece” can be reached at a Brussels meeting of euro-area finance ministers on Feb. 20 after a joint conference call today.
The yen fell to a two-month low versus the shared currency and declined against all its most-traded counterparts as global equity and commodity markets rallied.
The pound gained 0.2 percent to $1.5829, extending its weekly advance to 0.4 percent. Sterling rose 0.8 percent to 125.77 yen after reaching 125.90, the strongest since Nov. 7. Sales including fuel climbed 0.9 percent from December, when they rose 0.6 percent, the Office for National Statistics said today, spurring speculation the U.K. economy will avoid a recession.
European stocks advanced for a third day, pushing the Stoxx Europe 600 Index to a six-month high, as investors speculated that euro-area officials are nearing an agreement on a bailout for Greece.
Germany wants the currency area’s finance ministers to avoid separating the 130 billion-euro bailout for Greece from the planned bond swap with private creditors, officials from Europe’s largest economy said in a briefing to their country’s lawmakers. The finance chiefs of the 17 nations using the single currency meet on Feb. 20 in Brussels.
The Eurogroup meeting will probably approve the package and the debt exchange, three German officials involved in the telephone briefing yesterday said. A Finance Ministry spokesman declined to comment.
National benchmarks gained in every market except Norway. France’s CAC 40 Index and Germany’s DAX index both added 1.4 percent, while the U.K.’s FTSE 100 Index rose 0.3 percent.
A gauge of European banks advanced 1.4 percent making the biggest contribution to the Stoxx 600’s rally. Societe Generale, France’s second-largest lender, jumped 6.5 percent to 24.03 euros. Santander, Spain’s biggest bank, increased 2 percent to 6.41 euros. RBS climbed 3.2 percent to 27.6 pence and Barclays Plc added 1.4 percent to 248.35 pence. Banco Espirito Santo SA, Portugal’s largest bank, jumped 5.5 percent to 1.72 euros.
Piraeus Bank SA rallied 14 percent to 64.2 euro cents. Alpha Bank SA surged 16 percent to 1.81 euros.
Anglo American climbed 1.1 percent to 2,674 pence after the producer of metals and minerals from Africa to Brazil said that underlying earnings increased to $5.06 a share in 2011 from $4.13 a share in 2010.
Aegon NV rallied 7 percent to 3.99 euros. The Dutch insurer, which owns Transamerica Corp., said it aims to increase underlying pretax profit by 7 percent to 10 percent a year on average until 2015 and to post a return on equity of 10 percent to 12 percent. The company also reported fourth-quarter net income of 79 million euros.
U.S. stocks were little changed as optimism among European leaders about a Greek bailout failed to drive the Standard & Poor’s 500 Index above last year’s peak.
German Chancellor Angela Merkel, Italian Prime Minister Mario Monti and Greek Prime Minister Lucas Papademos discussed efforts to secure a second bailout for Greece and are confident that euro-area finance ministers will “find a solution for open questions” on Feb. 20. The International Monetary Fund is expected to contribute 13 billion euros to a second Greek aid package worth 130 billion euros, the Wall Street Journal reported, citing people familiar with the
Dow 12,933.49 +29.41 +0.23%, Nasdaq 2,948.26 -11.59 -0.39%, S&P 500 1,359.16 +1.12 +0.08%
The KBW Bank Index of 24 stocks gained 0.7 percent. Wells Fargo & Co. added 1.8 percent to $30.91. JPMorgan Chase & Co. (JPM) advanced 0.9 percent to $38.34. Bank of America Corp. (BAC) lost 1.1 percent to $8.
H.J. Heinz gained 4.9 percent to $54.66. The company reported third-quarter earnings excluding some items of 95 cents a share, beating the average analyst estimate of 85 cents.
Campbell Soup added 2.6 percent to $32.90. The company reported second-quarter earnings excluding some items of 64 cents a share. On average, the analysts surveyed by Bloomberg estimated profit of 62 cents.
Gilead tumbled 15 percent to $46.64. Among eight patients with hepatitis C genotype 1 in a clinical trial, six had a viral relapse within four weeks after stopping a 12-week treatment with the medicine, GS-7977, plus ribavirin, Gilead said today in a statement. The two other patients are two weeks out from stopping treatment, and haven’t relapsed, the company said.
Oil climbed in New York, heading for the biggest weekly gain this year, as signs of an improving U.S. economy and progress on a bailout for Greece bolstered the outlook for fuel demand. Brent touched an eight-month high.
West Texas Intermediate crude rose as much as 1.2 percent today and is up 4.3 percent this week. The index of U.S. leading indicators rose in January for a fourth month. European governments may cut interest rates on emergency loans to Greece and use European Central Bank funds to plug a financing gap, two people familiar with discussions said.
Oil for March delivery rose to $103.57, the highest level since Jan. 5. Futures are headed for the biggest weekly gain since Dec. 23.
Brent oil for April settlement dropped 74 cents, or 0.6 percent, to $119.37 a barrel on the London-based ICE Futures Europe exchange. The contract touched $120.70, the highest level since June 15.
The price of gold declines after growth caused by the data published on the eve of World Gold Council on the global demand for precious metals. World Gold Council reported that global demand for gold in 2011 was 4.06 tons, which cost is estimated at 205.5 billion dollars, which is the highest level since 1997. Demand for gold in the investment sector in2011 increased by 5% - to 1.64 tons. Most of the growth in demand for precious metals, as before, we have China and India. In 2011, the demand for gold in China increased by 20% - up to 769.8 thousand tons. The sharp increase in demand for precious metals was recorded in the investment sector in the country (69%).
The biggest demand for precious metals in the last year is still observed in India, where in2011 it was sold to 500 tons of gold and gold jewelry.
The cost of the February gold futures on the COMEX today kept in the range of $1721.7 - $1735.1 per ounce.
Resistance 3:1400 (psychological level)
Resistance 2:1373 (high of 2011)
Resistance 1:1360 (session high)
Current price: 1358,00
Support 1:1353 (session low)
Support 2:1350 (38,2 % FIBO 1334-1361)
Support 3:1347 (50,0 % FIBO 1334-1361)
EUR/USD $1.3000, $1.3060, $1.3100, $1.3110, $1.3200
AUD/USD $1.0700, $1.0725
USD/JPY Y78.00, Y78.50, Y79.00
EUR/CHF Chf1.2085
GBP/USD $1.5700
Data:
07:00 Germany Producer Price Index (MoM) January -0.4% +0.4% +0.6%
07:00 Germany Producer Price Index (YoY) January +4.0% +3.1% +3.4%
09:00 Eurozone Current account, adjusted, bln December -1.8 2.3 2.0
09:30 United Kingdom Retail Sales (MoM) January +0.6% -0.3% +0.9%
09:30 United Kingdom Retail Sales (YoY) January +2.6% +0.6% +2.0%
The euro strengthened versus the dollar on optimism European officials will agree to provide Greece with funding for a second bailout package.
The common currency rose after Italian Prime Minister Mario Monti, German Chancellor Angela Merkel and Greek Prime Minister Lucas Papademos expressed optimism that an “agreement on Greece” can be reached at a Brussels meeting of euro-area finance ministers on Feb. 20. Norway’s krone and South Korea’s won led gains versus the dollar as global equity markets advanced.
EUR/USD: during european session the pair was limited $1,3110-$ 1,3170.
GBP/USD: the pair showed high in $1,5860 area. Later the rate receded in $1,5820 area.
USD/JPY: the pair was fixed above Y79,00.
U.S. January Leading Indicators are released at 1500GMT.
GBP/USD
Offers $1.5925/30, $1.5900/10
Bids $1.5725/20, $1.5710/00, $1.5660/55
EUR/USD
Offers $1.3280/85, $1.3215/20
Bids $1.3105/00, $1.3080, $1.3045/40, $1.3005/00
EUR/GBP
Offers stg0.8410, stg0.8400, stg0.8370/75, stg0.8335/40, stg0.8320/25
Bids stg0.8280, stg0.8265/60, stg0.8240/35, stg0.8225/20
Resistance 3: Y80.30 (high of August)
Resistance 2: Y79.50 (high of October)
Resistance 1: Y79.20 (session high)
Current price: Y79.17
Support 1:Y79.00 (support line from Feb 14)
Support 2:Y78.80 (Feb 15 high)
Support 3:Y78.20 (Feb 15 low)
Resistance 3: Chf0.9300 (Feb 16 high)
Resistance 2: Chf0.9230 (50,0 % FIBO of decrease from Chf0,9300)
Resistance 1: Chf0.9210 (session high)
Current price: Chf0.9181
Support 1: Chf0.9170 (session low, МА (200) for Н1, Feb 16 low)
Support 2: Chf0.9150/40 (Feb 14-15 lows)
Support 3: Chf0.9090 (Feb 9 low)
Resistance 3 : $1.5930 (Feb 8 high)
Resistance 2 : $1.5880 (Feb 9 high)
Resistance 1 : $1.5860 (session high)
Current price: $1.5845
Support 1 : $1.5790 (session low, 38,2 % FIBO of growth from $1.5650)
Support 2 : $1.5760 (50.0% FIBO of growth from $1.5650)
Support 3 : $1.5740 (Feb 15 high, 61,8 % FIBO of growth from $1.5650)
Resistance 3 : $1.3320 (Feb 9 high)
Resistance 2 : $1.3280 (Feb 13 high)
Resistance 1 : $1.3180 (МА (200) for Н1, Feb 15 high, resistance line from Feb 9)
Current price: $1.3136
Support 1 : $1.3110 (session low)
Support 2 : $1.3070 (50,0 % FIBO of growth from $1,2975)
Support 3 : $1.2975 (Feb 16 low)
EUR/USD $1.3000, $1.3060, $1.3100, $1.3110, $1.3200
AUD/USD $1.0700, $1.0725
USD/JPY Y78.00, Y78.50, Y79.00
EUR/CHF Chf1.2085
GBP/USD $1.5700
Asian stocks rose, with the regional benchmark index set to equal its longest streak of weekly advances, after U.S. economic reports beat estimates and optimism increased that Greece will get a second debt bailout, boosting demand for riskier assets.
Nikkei 225 9,384.17 +146.07 +1.58%
Hang Seng 21,457.24 +179.96 +0.85%
S&P/ASX 200 4,195.88 +14.02 +0.34%
Shanghai Composite 2,357.18 +0.32 +0.01%
Honda Motor Co., Japan’s second-largest carmaker by market value that generates 44 percent of its revenue in North America, rose 2.4 percent.
Mitsubishi UFJ Financial Group Inc., Japan’s biggest lender, led financial companies higher.
Billabong International Ltd., a global surfwear maker, surged 46 percent in Sydney after confirming a takeover approach.
Bridgestone Corp, the world’s biggest tiremaker by market value, jumped 4 percent to 1,833 yen after saying it expects net income will surge 63 percent to 168 billion yen ($2.1 billion) this year on growing sales. The Japanese tire company also said it will spend about 4.7 billion yen to boost production capacity.
Yesterday 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.
EUR/USD: yesterday the pair fell, but second half of day was restored and closed day above $1.3100.
GBP/USD: yesterday the pair has grown on a figure.
USD/JPY: yesterday the pair rose, updated new week’s high.
On Friday data starts at 0700GMT, with the release of German January PPI data. At 0900GMT, ECB December current account data was released. At 1000GMT, EMU Dec construction output data hits the screens. UK data is due at 0930GMT, with the release of the January Retail Sales data. The US calendar gets under way at 1330GMT, with the release of the latest consumer price data. The core CPI is expected to rise 0.2% after the 0.1% rise in December. Also at 1330GMT, Canadian Leading Indicators are released. U.S. January Leading Indicators are released at 1500GMT. Lastly, at 2115GMT, U.S. C&I loans data is released.
Asian stocks fell, with the region’s benchmark index retreating from a six-month high, after a second bailout for Greece was postponed and Westpac Banking Corp. reported lower earnings.
Nikkei 225 9,238.1 -22.24 -0.24%
Hang Seng 21,277.28 -87.95 -0.41%
S&P/ASX 200 4,181.86 -71.54 -1.68%
Shanghai Composite 2,356.86 -9.84 -0.42%
Westpac, Australia’s second-largest lender, fell 3.5 percent as higher funding costs stemming from Europe’s crisis ate into profit.
BHP Billiton Ltd., the world’s No. 1 mining company, lost 2.2 percent in Sydney after metal prices dropped and rival Vale SA said earnings fell as customers pressed for discounts.
Phison Electronics Corp., a maker of controllers for flash memory, slid 6.9 percent in Taiwan on lower chip prices.
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.
U.S. stocks advanced, sending the Standard & Poor’s 500 Index near the highest level in about three years, amid better-than-estimated economic reports and optimism that Greece will receive a second bailout.
Stocks rose as Americans filed the fewest claims for jobless benefits since 2008 and builders broke ground on more homes than forecast. Manufacturing in the Philadelphia region expanded in February at the fastest pace in four months as orders and sales picked up.
Benchmark gauges extended gains and banks rallied as three euro-area officials said the European Central Bank is swapping its Greek bonds for new ones to ensure it isn’t forced to take losses in a debt restructuring. European governments are considering cutting interest rates on emergency loans to Greece and using contributions from the ECB to plug a new financing gap in the second bailout program for Athens, two people familiar with the discussions said.
Dow 12,904.01 +123.06 +0.96%, Nasdaq 2,959.85 +44.02 +1.51%, S&P 500 1,358.04 +14.81 +1.10%
Bank of America (ВАС) added 4 percent to $8.09. Microsoft (MSFT) jumped 4.1 percent, the most in the Dow, to $31.29. The shares rose to the highest price since April 2010.
GM surged 9 percent to $27.17. 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 7.2 percent, the most in the S&P 500, to $42.74. 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 2.5 percent to $179.93. The world’s largest Web retailer fell after Morgan Stanley downgraded the stock, citing competition from Apple Inc. and the decline of traditional media such as CDs and video games.
Resistance 3: Chf0.9340 (Jan 25 high)
Resistance 2: Chf0.9300 (Feb 16 high)
Resistance 1: Chf0.9230 (Feb 14 high)
The current price: Chf0.9190
Support 1: Chf0.9175 (Feb 16 low)
Support 2: Chf0.9140 (Feb 14 low)
Support 3: Chf0.9085/00 (area of Feb 9-13 low)
Resistance 3 : $1.3285 (Feb 13 high)
Resistance 2 : $1.3215 (Feb 14 high)
Resistance 1 : $1.3160 (Feb 16 high)
The current price: $1.3132
Support 1 : $1.3100 (resistance line from Feb 13)
Support 2 : $1.3040 (Feb 15 low)
Support 3 : $1.2975 (Feb 16 low)
Change % Change Last
Oil $102.28 -0.03 -0.03%
Gold $1,729.10 +0.70 +0.04%
Change % Change Last
Nikkei 225 9,238.1 -22.24 -0.24%
Hang Seng 21,277.28 -87.95 -0.41%
S&P/ASX 200 4,181.86 -71.54 -1.68%
Shanghai Composite 2,356.86 -9.84 -0.42%
FTSE 100 5,885.23 -6.93 -0.12%
CAC 40 3,391.29 +0.94 +0.03%
DAX 6,745.28 -12.66 -0.19%
Dow 12,904.01 +123.06 +0.96%
Nasdaq 2,959.85 +44.02 +1.51%
S&P 500 1,358.04 +14.81 +1.10%
(pare/closed(00:00 GMT +02:00)/change, %)
EUR/USD $1,3129 +0,49%
GBP/USD $1,5797 +0,67%
USD/CHF Chf0,9190 -0,48%
USD/JPY Y78,93 +0,63%
EUR/JPY Y103,63 +1,12%
GBP/JPY Y124,67 +1,30%
AUD/USD $1,0753 +0,54%
NZD/USD $0,8329 +0,01%
USD/CAD C$0,9965 -0,34%
00:01 United Kingdom Nationwide Consumer Confidence January 38
07:00 Germany Producer Price Index (MoM) January -0.4% +0.4%
07:00 Germany Producer Price Index (YoY) January +4.0% +3.1%
09:00 Eurozone Current account, adjusted, bln December -1.8 2.3
09:30 United Kingdom Retail Sales (MoM) January +0.6% -0.3%
09:30 United Kingdom Retail Sales (YoY) January +2.6% +0.6%
12:00 Canada Consumer Price Index m / m January -0.6% +0.3%
12:00 Canada Consumer price index, y/y January +2.3% +2.3%
12:00 Canada Bank of Canada Consumer Price Index Core, m/m January -0.5% +0.1%
12:00 Canada Bank of Canada Consumer Price Index Core, y/y January +1.9% +1.9%
13:00 G20 G20 Meetings 0
13:30 Canada Leading Indicators, m/m January +0.8% +0.6%
13:30 U.S. CPI, m/m January 0.0% +0.3%
13:30 U.S. CPI, Y/Y January +3.0% +2.8%
13:30 U.S. CPI excluding food and energy, m/m January +0.1% +0.3%
13:30 U.S. CPI excluding food and energy, Y/Y January +2.2% +2.2%
15:00 U.S. API Monthly Report January
15:00 U.S. Leading Indicators January +0.4% +0.6%
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