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Analytics, News, and Forecasts for CFD Markets: currency news — 18-07-2012.
The market rental housing continues to strengthen
Manufacturing activity is increasing in most districts
Car sales are supported by sales of cars with low fuel consumption
Demand for loans is moderately increased in most districts
Reports on agriculture, inconsistent pricing
Price pressure is decreased as the fall in energy prices
Representatives of business, "cautiously optimistic" about future conditions
In many districts marked by slower growth in retail spending
In many districts noted a high activity in the tourism, travel
Scope of nonfinancial services remained stable
Mortgage lending increased in most districts
Drought hurt some districts
Hot summer weather has reduced retail sales in some regions
Tourist activity is high throughout the country, including New York, Florida
The drought hurt farmers in the plains states
The labor market situation improves, "barely warm" rate
Some companies have difficulty finding qualified workers
Retail sales rose marginally to A majority of districts
Hiring is slow due to financial uncertainty, weak demand
During the American session, the dollar has weakened its position against higher-yielding currencies against the second part of speech Fed Chairman Ben Bernanke in Congress. The text of Bernanke repeated a speech the day before. Although Bernanke has stressed the readiness of the Central Bank to act, he refrained from giving any details and did not say whether it would be quantitative easing, and when it is such measures can be taken.
Earlier, the euro declined after German Chancellor Angela Merkel said that "the European project" is under threat, and if the policy will work harder, fueling interest in solving the debt crisis in the region, it will remain impossible.
The pound fell against the dollar before the first time in four days after the Bank of England said that there is a possibility of future rate reductions. However, nine members of the Monetary Policy Committee decided unanimously to keep its key interest rate at a record low of 0.5% this month. Seven of the nine members of the Committee on Monetary Policy Bank of England voted in favor of additional incentives at the meeting. Governor of the Bank of England Governor Mervyn King among the other seven members voted to increase asset purchase program by 50 billion pounds to 375 billion pounds, as there is reason to inject more cash into the UK economy and stimulate lending to the slowdown in inflation.
The focus of market participants is a publication of a report the Federal Reserve "Beige Book", which is scheduled for 18:00 GMT. Recall that this report provides an overview of the current economic situation in each of the 12 federal districts of the United States. This report is used for the Fed decision on monetary policy at a meeting of Federal Open Market Committee, which will take place in the 2nd week.
EUR/USD $1.2150, $1.2200, $1.2250, $1.2300, $1.2400
USD/JPY Y79.10
GBP/USD $1.5600, $1.5425
EUR/GBP stg0.7850, stg0.7865
USD/CHF Chf0.9600, Chf0.9800, Chf0.9900
AUD/USD $1.0175, $1.0200, $1.0250, $1.0275, $1.0300
Data
08:30 United Kingdom Bank of England Minutes -
08:30 United Kingdom Claimant Count Rate June 4.9% 4.9% 4.9%
08:30 United Kingdom Claimant count June 8.1 7.4 6.9
08:30 United Kingdom ILO Unemployment Rate May 8.2% 8.2% 8.1%
08:30 United Kingdom Average Earnings, 3m/y May +1.4% +1.4% +1.5%
08:30 United Kingdom Average earnings ex bonuses, 3 m/y May +1.8% +1.9% +1.8%
09:00 Switzerland Credit Suisse ZEW Survey (Expectations) July -43.4 -42.5
During the session, the euro declined after German Chancellor Angela Merkel said that "the European project" is under threat, and if the policy will work harder, fueling interest in solving the debt crisis in the region, it will remain impossible.
The pound fell against the dollar for the first four days after the Bank of England said that there is a possibility of future rate reductions. However, nine members of the Monetary Policy Committee decided unanimously to keep its key interest rate at a record low of 0.5% this month. Seven of the nine members of the Committee on Monetary Policy Bank of England voted in favor of additional incentives at the meeting. Governor of the Bank of England Governor Mervyn King among the other seven members voted to increase asset purchase program by 50 billion pounds to 375 billion pounds, as there is reason to inject more cash into the UK economy and stimulate lending to the slowdown in inflation.
The yen and dollar rose against most currencies in anticipation of speech Federal Reserve Chairman Ben Bernanke, who will speak today in Congress.
EUR/USD: during the European session, the pair fell to 1.2215 level, after which followed a small adjustment
GBP/USD: a pair of rapidly declining during the current session, reaching a minimum value of this prospect at the level of 1.5580
USD/JPY: the pair is trading within a narrow range near the minimum values of the day
At 12:30 GMT the U.S. will report the volume of building permits issued in June, the number of bookmarks of new foundations for June. At 14:30 GMT the U.S. will present data on stocks of crude oil from the Ministry of Energy in July. At 18:00 GMT will be published in the U.S. Federal Reserve economic survey by region "Beige Book" in July.
EUR/USD
Offers $1.2340/50, $1.2295/300, $1.2245/50
Bids $1.2215, $1.2175
GBP/USD
Offers $1.5700, $1.5687, $1.5650, $1.5615/25
Bids $1.5550, $1.5535/30, $1.5500, $1.5460
AUD/USD
Offers $1.0400, $1.0380/85
Bids $1.0250, $1.0200
EUR/JPY
Offers Y98.50, Y98.00, Y97.70/75, Y97.50
Bids Y96.50, Y96.00
USD/JPY
Offers Y79.50, Y79.40
Bids Y78.50
EUR/GBP
Offers stg0.7920/30, stg0.7895/900, stg0.7880/85
Bids stg0.7810/00
Resistance 3: Y79.40 (MA (200) for H1, July 9 low)
Resistance 2: Y79.30 (July 2 low)
Resistance 1: Y79.12 (July 11 low)
Current price: Y78.97
Support 1: Y78.68 (July 16 low)
Support 2: Y78.10 (June 5 low)
Support 3: Y77.65 (June 1 low)
Resistance 3: Chf0.9910 (December 2010 high)
Resistance 2: Chf0.9875 (July 13 high)
Resistance 1: Chf0.9850 (July 16 high)
Current price: Chf0.9812
Support 1: Chf0.9750 (July 17 low)
Support 2: Chf0.9715 (38,2% of FIBO (0.9465-0.9875), July 5 low)
Support 3: Chf0.9670/80 (June 28 low, July 6 low)
Resistance 3: $ 1.5780 (June 20 high)
Resistance 2: $ 1.5720 (July 2 high)
Resistance 1: $ 1.5680/85 (session high, 88.2% for the FIBO ($ 1.5395-$ 1.5722))
Current Price: $ 1.5606
Support 1: $ 1.5555/60 (50% for the FIBO ($ 1.5395-$ 1.5722), July 17 low)
Support 2: $ 1.5510/20 (MA (100) for H1, 38.2% for the FIBO ($ 1.5395-$ 1.5722))
Support 3: $ 1.5460/70 (23.6% of FIBO ($ 1.5395-$ 1.5722), July 6 low)
Resistance 3: $ 1.2405 (July 6 high, June 28 low)
Resistance 2: $ 1.2365 (38.2% of FIBO ($ 1.2163-$ 1.2695), a minimum of 5 July)
Resistance 1: $ 1.2490 (July 17 high)
Current Price: $ 1.2237
Support 1: $ 1.2165 (July 12 low)
Support 2: $ 1.2116 (June 2010 low)
Support 3: $ 1.2000 (psychological level)
EUR/USD $1.2150, $1.2200, $1.2250, $1.2300, $1.2400
USD/JPY Y79.10
GBP/USD $1.5600, $1.5425
EUR/GBP stg0.7850, stg0.7865
USD/CHF Chf0.9600, Chf0.9800, Chf0.9900
AUD/USD $1.0175, $1.0200, $1.0250, $1.0275, $1.0300
23:50 Japan Monetary Policy Meeting Minutes
The euro weakened versus the dollar and yen before German lawmakers vote tomorrow on aid to recapitalize Spanish banks. Germany’s Finance Ministry formally asked lawmakers in a letter dated July 16 to support Spanish bank recapitalizations of as much as 100 billion euros ($123 billion) by the European Financial Stability Facility and the transfer of the program to the future European Stability Mechanism.
The dollar snapped a one-day advance against the yen on speculation the Federal Reserve’s Beige Book assessment of U.S. economic conditions due today may add to recent signs of weakness and before Chairman Ben S. Bernanke testifies before Congress for a second day. The Fed is due to release its Beige Book survey of business conditions in 12 U.S. districts. The U.S. economy was described as growing at a “moderate pace” pace in the central bank’s June survey.
Japan’s currency gained versus all but one of its 16 major peers as declines in Asian stocks spurred demand for safer assets.
EUR / USD: during the Asian session the pair was trading around $1.2300.
GBP / USD: during the Asian session the pair was trading in range $1.5645-$1.5665.
USD / JPY: during the Asian session the pair fell, retreating from yesterday's high.
The core-European data calendar is looking thin, with just the 0900GMT release of EMU construction output data. UK events at 0830GMT Wednesday include the release of the minutes from the July Bank of England MPC meeting as well as the labour market data for June. US data starts at 1100GMT with the weekly MBA Mortgage Application Index. At 1230GMT, US Treasury Secretary Tim Geithner appears on CNBC. Also at 1230GMT, the pace of US housing starts is expected to rise to a 745,000 annual rate in June after falling to 708,000 in May. Then, at 1400GMT, Federal Reserve Chairman Ben Bernanke repeats his semiannual report to Congress to the House Financial Services committee, followed by a fresh Q&A. Weekly EIA Crude Oil Stocks data is due at 1430GMT, while later on, at 1900GMT, the Federal Reserve's Beige Book is due.
Yesterday the major currency pairs displayed high volatility in the background speech Fed Chairman Ben Bernanke in Congress.
The dollar rose at the outset, as the first reaction of market participants was negative, because no specific signal on the new incentives announced the U.S. economy was not.
Later, however, Bernanke said that the downside risks have increased, have been seen as one of these signals. Bernanke reiterated that "the Fed is ready to take action if necessary" and that "the recovery of the labor market is extremely slow."
The pressure on the euro also had a weak sentiment index data in the business environment of the institute ZEW, which fell to -19.6 in July to -16.9 in June.
The yen fell against the dollar after three days of growth, which was due to the fact that the Minister of Finance of Japan, Azumi said that foreign exchange earnings were "speculative" and officials are prepared to take drastic measures if need be. "
Resistance 3: Y79.95 (Jul 12 high)
Resistance 2: Y79.40 (Jul 13 high, MA (50) D1, MA (200) H1)
Resistance 1: Y79.15 (Jul 17 high)
Current price: Y79.00
Support 1: Y78.95 (Jul 17 low)
Support 2: Y78.70/78.60 (area of Jun 16 low)
Support 3: Y78.10 (Jun 5 low)
Resistance 3: Chf0.9865/75 (area of Jul 12 high and Jul 16 high)
Resistance 2: Chf0.9850 (Jul 17 high)
Resistance 1: Chf0.9790 (MA (200) H1)
Current price: Chf0.9782
Support 1: Chf0.9750/60 (area of Jul 17 low and the session low)
Support 2: Chf0.9735 (Jul 10 low)
Support 3: Chf0.9685 (Jul 6 low)
Resistance 3: $ 1.5775 (Jun 20 high)
Resistance 2: $ 1.5720 (Jul 2 high)
Resistance 1: $ 1.5675 (Jul 17 high)
Current Price: $ 1.5648
Support 1: $ 1.5555 (Jul 17 low)
Support 2: $ 1.5530 (MA (200) H1)
Support 3: $ 1.5515 (Jul 16 low)
Resistance 3: $ 1.2400 (Jul 6 high)
Resistance 2: $ 1.2335 (Jul 10 high)
Resistance 1: $ 1.2320 (Jul 17 high)
Current Price: $ 1.2279
Support 1: $ 1.2270 (MA (200) H1)
Support 2: $ 1.2190 (Jul 17 low)
Support 3: $ 1.2160/70 (area of Jul 12-16 lows)
(pare/closed(00:00 GMT +02:00)/change, %)
EUR/USD $1,2288 +0,15%
GBP/USD $1,5647 +0,10%
USD/CHF Chf0,9774 -0,12%
USD/JPY Y79,08 +0,29%
EUR/JPY Y97,17 +0,43%
GBP/JPY Y123,71 +0,37%
AUD/USD $1,0302 +0,57%
NZD/USD $0,7968 -0,06%
USD/CAD C$1,0125 -0,22%
08:30 United Kingdom Bank of England Minutes -
08:30 United Kingdom Claimant Count Rate June 4.9% 4.9%
08:30 United Kingdom Claimant count June 8.1 7.4
08:30 United Kingdom ILO Unemployment Rate May 8.2% 8.2%
08:30 United Kingdom Average Earnings, 3m/y May +1.4% +1.4%
08:30 United Kingdom Average earnings ex bonuses, 3 m/y May +1.8% +1.9%
09:00 Switzerland Credit Suisse ZEW Survey (Expectations) July -43.4
12:30 U.S. Building Permits, mln June 0.780 0.765
12:30 U.S. Housing Starts, mln June 0.708 0.745
14:00 U.S. Fed Chairman Bernanke Testifies -
14:30 U.S. Crude Oil Inventories - -4.7
14:30 Canada Bank of Canada Monetary Policy Report Quarter III
15:15 Canada BOC Press Conference -
18:00 U.S. Fed's Beige Book July
22:00 New Zealand ANZ Job Advertisements (MoM) June +3.3%
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