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Analytics, News, and Forecasts for CFD Markets: currency news — 17-08-2012.
retreated from session low versus dollar amid optimism that European leaders are moving closer to agreement on solving the region’s debt crisis.
The euro has been buoyed by suggestions that the ECB will buy bonds as soon as anyone comes to the European Financial Stability Fund to ask for help.
Canada’s dollar weakened against its U.S counterpart for the first time in four days as inflation slowed in July, adding to evidence the nation’s economy is moving away from full capacity.The pair now likely to find resistance at $1.2320/25 area of broken support. Bids remain in area $1.2285/80 with stops in place below.
EUR/USD $1.2275, $1.2300, $1.2350, $1.2400
EUR/JPY Y79.00, Y79.05, Y79.10, Y79.20, Y79.25
EUR/JPY Y98.00, Y97.05, Y97.00
GBP/USD $1.5760
EUR/GBP stg0.7800, stg0.7950
USD/CHF Chf0.9760
AUD/USD $1.0350, $1.0405, $1.0450, $1.0500, $1.0600
AUD/JPY Y83.00, Y82.60, Y82.00Data
06:00 Germany Producer Price Index (MoM) July -0.4% +0.4% 0.0%
06:00 Germany Producer Price Index (YoY) July +1.6% +0.9%
08:00 Eurozone Current account, adjusted, bln June 10.9 7.8 12.7
09:00 Eurozone Trade Balance s.a. June 6.3 5.4 10.5
The euro rose to its highest level in six weeks against the yen, as Germany has declared its support for the decision of the European Central Bank to overcome the debt crisis, which may include the purchase of sovereign debt.
The single currency rose against all 16 major currencies after German Chancellor Angela Merkel, French President Francois Hollande and the Prime Minister Antonis Samaras of Greece said that the leaders feel obliged to do everything to protect the euro.
Australian dollar won back all lost over the past two days otnoscheniyu position on the U.S. dollar, as there were rumors that the RBA may resort to stimulating monetary policy if the changes in exchange rates will seriously harm the economy.
The New Zealand dollar strengthened after the published data on the producer price index showed an unexpected increase in the second quarter.
The pound fell during the session, which probably was corrected after yesterday's rapid growth.
EUR/USD: Trading in the updated a couple of yesterday's high, then began to decline and is now trading near the minimum values of the session
GBP/USD: Trading steam flow steadily declining, and lost more than half of the positions won yesterday
USD/JPY: during the course of the session showed showed a slight increase, but despite this renewed yesterday's high
At 12:30 GMT, Canada will provide the consumer price index and core consumer price index from the Bank of Canada in July. At 13:55 GMT the U.S. consumer sentiment index released by the University of Michigan in August
EUR/USD
Offers $1.2485, $1.2460/65, $1.2445/50, $1.2410/20, $1.2382/00
Bids $1.2325/20, $1.2305/00, $1.2285/80, $1.2256, $1.2240
AUD/USD
Offers $1.0550, $1.0520, $1.0500, $1.0475/80
Bids $1.0430, $1.0400, $1.0365/60, $1.0350
GBP/USD
Offers $1.5800/10, $1.5780, $1.5750
Bids $1.5665/60, $1.5635/30, $1.5600
EUR/GBP
Offers stg0.7920, stg0.7900/05, stg0.7885, stg0.7879
Bids stg0.7810/00, stg0.7780/75, stg0.7755/50
USD/JPY
Offers Y80.20, Y80.00, Y79.80
Bids Y79.10, Y79.05/00, Y78.80, Y78.50
EUR/JPY
Offers Y99.20, Y99.00, Y98.50
Bids Y97.50, Y97.20, Y97.05/00, Y96.85/80, Y96.70
EUR/USD $1.2275, $1.2300, $1.2350, $1.2400
USD/JPY Y79.00, Y79.05, Y79.10
EUR/JPY Y98.00, Y97.05, Y97.00
GBP/USD $1.5760
EUR/GBP stg0.7800, stg0.7950
AUD/USD $1.0350, $1.0405, $1.0600
AUD/JPY Y83.00
The euro traded 0.3 percent from a six-week high versus the yen as Germany signaled its support for a European Central Bank approach to resolve the debt crisis. Merkel is due to host Hollande, Paris-based Agence France- Presse reported, one day before Samaras visits Berlin for talks. Italian media reported that Prime Minister Mario Monti is due in the German capital on Aug. 29, while Spanish Prime Minister Mariano Rajoy has said that Merkel will visit Madrid on Sept. 6.
Asked about ECB chief Mario Draghi’s announcement the bank may return to sovereign bond buying, Merkel said recent ECB decisions “have made it clear that the European Central Bank is counting on political action in the form of conditionality as the precondition for a positive development of the euro.”
The yen headed for its biggest weekly loss in almost two months versus the greenback as the extra yield investors receive from U.S. securities over Japanese debt climbed.
Sales of existing U.S. homes probably rose to a 4.5 million annual rate in July from a 4.37 million pace in June, according to the median estimate of economists surveyed by Bloomberg News before a report by the National Association of Realtors due Aug. 22. Housing starts fell 1.1 percent to a 746,000 annual rate last month from June’s 754,000 pace, Commerce Department figures showed yesterday.
Federal Reserve Bank of Minneapolis President Narayana Kocherlakota said he believes the Federal Open Market Committee has gone too far by pledging to hold the main interest rate near zero at least through late 2014.
EUR / USD: during the Asian session the pair retreated from yesterday's high.
GBP / USD: during the Asian session the pair fell, retreating from yesterday's high.
USD / JPY: during the Asian session the pair rose to yesterday's high.
European data for Friday starts at 0600GMT with PPI from Germany, which is expected to rise by 0.5% m/m, 1.4% y/y in July. EMU data also sees the ECB current account at 0800GMT and EMU trade balance at 0900GMT. US data starts at 1355GMT, when the University of Michigan Sentiment Index is expected to fall to a reading of 72.0 in early-August from a 72.3 reading in July. US Leading Indicator data follows at 1400GMT along with the latest BLS State Unemployment data. Later on, at 2015GMT, US C&I Loans data is due.
Yesterday after three days of recession, market participants 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, 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 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 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.(pare/closed(00:00 GMT +02:00)/change, %)
EUR/USD $1,2357 +0,57%
GBP/USD $1,5734 +0,35%
USD/CHF Chf0,9719 -0,58%
USD/JPY Y79,32 +0,43%
EUR/JPY Y98,01 +1,00%
GBP/JPY Y124,80 +0,79%
AUD/USD $1,0511 +0,10%
NZD/USD $0,8109 +0,47%
USD/CAD C$0,9863 -0,28%
06:00 Germany Producer Price Index (MoM) July -0.4% +0.4%
06:00 Germany Producer Price Index (YoY) July +1.6%
08:00 Eurozone Current account, adjusted, bln June 10.9 7.8
09:00 Eurozone Trade Balance s.a. June 6.3 5.4
12:30 Canada Consumer Price Index m / m July -0.4% +0.2%
12:30 Canada Consumer price index, y/y July +1.5%
12:30 Canada Bank of Canada Consumer Price Index Core, m/m July -0.4% +0.2%
12:30 Canada Bank of Canada Consumer Price Index Core, y/y July +2.0%
13:55 U.S. Reuters/Michigan Consumer Sentiment Index (preliminary) August 72.3 72.5
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