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Analytics, News, and Forecasts for CFD Markets: currency news — 18-12-2012.
Today, the euro rose against the dollar to its highest level in seven months, as the increased probability of U.S. lawmakers still unable to reach an agreement that would avoid the so-called "financial cliff", which immediately caused the strengthening of the economic outlook and reduced demand for safe-haven assets. The single currency was also added after the public debt auctions in Spain and Greece. As it became known, Madrid sold in 3 months. securities at € 1.58 billion, the yield was 1.195% (vs. prev. 1.254%) and 6-months. securities - at € 1.95 billion, with a yield of 1.609% (1.669% prev). At the same time, the yield of 3-month Greek. Bills sold in the amount of € 1.3 billion, also decreased to 4.11% (last 4.2%). Note that both the government managed to raise the amount of money than the planned amount.
The yen fell for the sixth day against the euro ahead of a two-day meeting of the Bank of Japan, scheduled to start tomorrow night. Many analysts predict that it will be decided on a program increase of monetary stimulus, which should have a downward pressure on the yen.
The dollar index (DXY), which tracks the greenback against six currencies, the U.S. partners, fell 0.3% to 79.341, after falling to its lowest level since Oct. 19.
Also in the course of the negotiations today with the U.S. President, the Speaker of the U.S. House Boehner said the president's plan is unbalanced. At the same time, he said that they would continue to seek a compromise, but will also work on a contingency plan, which will be balanced. Boehner added that Republicans are willing to support the proposal to raise tax revenues by $ 1 trillion, but only in the case of parallel spending cuts of $ 1 trillion.
08:00 Switzerland KOF Institute Economic Forecast Quarter I
09:30 United Kingdom HICP, m/m November +0.5% +0.2% +0.2%
09:30 United Kingdom HICP, Y/Y November +2.7% +2.6% +2.7%
09:30 United Kingdom HICP ex EFAT, Y/Y November +2.6% +2.6% +2.6%
09:30 United Kingdom Retail Price Index, m/m November +0.6% +0.2% 0.0%
09:30 United Kingdom Retail prices, Y/Y November +3.2% +3.2% +3.0%
09:30 United Kingdom RPI-X, Y/Y November +3.1% +3.1% +2.9%
09:30 United Kingdom Producer Price Index - Input (MoM) November +0.4% +0.1% +0.1%
09:30 United Kingdom Producer Price Index - Input (YoY) November +0.1% -0.1% -0.3%
09:30 United Kingdom Producer Price Index - Output (MoM) November +0.1% +0.1% -0.2%
09:30 United Kingdom Producer Price Index - Output (YoY) November +2.5% +2.5% +2.2%
10:30 United Kingdom BOE Inflation Letter December
Euro updated 7-month high against the dollar after the auction on state debt in Spain and Greece. This morning, the Government of Spain and Greece held auctions for government debt. Madrid sold in 3 months. securities at € 1.58 billion, the yield was 1.195% (vs. prev. 1.254%) and 6-months securities - at € 1.95 billion, with a yield of 1.609% (1.669% prev). Yield Greek 3 months Bills sold in the amount of € 1.3 billion, also improved to 4.11% (last 4.2%). Both governments have managed to raise funds over the planned amount.
Meanwhile, in Italy's center-right government has called for tax cuts, measures to stimulate the economy, privatization and the sale of assets and stop the implementation of austerity measures.
The pound rose against the data recorded constant level of annual inflation. Last month, inflation in the UK remains at the highest level since May, as the rise in the cost of electricity provided the consumer price inflation above the target mark of the Bank of England. As shown by the Office for National Statistics, released today in London, the CPI index rose by 2.7% year on year, which was in line with the consensus forecast of economists. Similar dynamics are largely inspired by the higher cost of food and utilities. Compared with last month, prices rose 0.2%.
EUR / USD: during the European session, the pair rose to a maximum of $ 1.3190
GBP / USD: during the European session, the pair rose to a maximum of $ 1.6225
USD / JPY: during the European session the pair fell to Y83.81, then recovered slightly and is now trading at Y83.87
In the U.S. at 13:30 GMT will balance the balance of payments current account for the 3rd quarter, the 21:30 GMT - the change in volume of crude oil, according to API. At 21:45 GMT New Zealand will release the current account balance of the balance of payments, the ratio of current account deficit to GDP for the 3rd quarter. At 23:30 GMT Australia will index of leading economic indicators from the Melbourne Institute in October. At 23:50 GMT, Japan will issue the total balance of trade in goods, the adjusted balance of trade in goods, the change in volume of exports and imports in November.
EUR/USD
Offers $1.3240/50, $1.3230, $1.3200
Bids $1.3150/40, $1.3125/15, $1.3100, $1.3085/80, $1.3070/60, $1.3040
GBP/USD
Offers $1.6300/10, $1.6270/80, $1.6240/50, $1.6225/30
Bids $1.6195/90, $1.6175/70, $1.6155/50, $1.6135/30, $1.6110/00
AUD/USD
Offers $1.0635/40, $1.0600, $1.0575, $1.0555/60
Bids $1.0525, $1.0500, $1.0465/60, $1.0450
EUR/JPY
Offers Y112.00, Y111.50, Y111.30/35, Y110.95/00, Y110.70/75
Bids Y110.00, Y109.50, Y109.00
USD/JPY
Offers Y85.00, Y84.75/80, Y84.50, Y84.15/20
Bids Y83.50, Y83.20
EUR/GBP
Offers stg0.8280, stg0.8220 , stg0.8195/200, stg0.8165, stg0.8155
Bids stg0.8095/90, stg0.8080, stg0.8065/60, stg0.8045, stg0.8035/30
In Europe, the EUR / USD strengthened from a minimum of 1.3155 and has managed to regain week high by moving them 1 point. to 1.3190 after the public debt auctions in Spain and Greece.
This morning, the Government of Spain and Greece held auctions for government debt. Madrid sold in 3 months. securities at € 1.58 billion, the yield was 1.195% (vs. prev. 1.254%) and 6-months. securities - at € 1.95 billion, with a yield of 1.609% (1.669% prev). Yield Greek 3 months. Bills sold in the amount of € 1.3 billion, also improved to 4.11% (last 4.2%). Both governments have managed to raise funds over the planned amount.
EUR/USD $1.3200, $1.3150, $1.3100, $1.3000
USD/JPY Y83.00, Y83.50, Y83.75, Y84.00
GBP/USD $1.6200, $1.6000
EUR/GBP stg0.8180
USD/CHF Chf0.9265
AUD/USD $1.0500, $1.0550
Sold E3.523bln vs target E2.5bln-E3.5bln
Sold 3-month E1.577bln; bid-to-cover 2.92 (3.52). At average yield 1.195% vs 1.254% previous
- Sold 6-month E1.946bln; bid-to-cover 2.57 (2.30). At average yield 1.609% vs 1.669% previous
Yesterday, the yen fell against the dollar to its lowest level since April 2011, as the election in Japan won Shinzo Abe, who is committed to the further expansion of monetary stimulus. At the same time, Abe called for the central bank to extend the threshold to 2% inflation and spend unlimited easing to revive economic growth. Note that the discussion of these issues will be held at a meeting of the Bank of Japan, which is scheduled for December 19-20. In addition, it is believed that during this session, the Bank of Japan may announce the expansion of the leniency program.
The dollar rose against most major currencies, as the negotiations on the U.S. budget remain. Note that if the politicians can not find a compromise before the end of this year, from January 1, you will automatically increase taxes and spending cuts to the tune of more than $ 600 billion, which is known as a "financial cliff." Also exerted pressure on the currency presented data on the index of activity in the manufacturing sector of the New York Fed, which declined sharply, reaching the mark with -8.1, compared to -5.22 in November, while analysts expected that the value of this indicator will increase to -0.3. On the dynamics of trade also affected message that House Speaker John Boehner proposed to raise income tax rates of households whose income is more than $ 1 million a year in exchange for cost containment. Earlier, Boehner previously opposed the increase in the tax rates for all income levels. However, U.S. President Barack Obama, who is in favor of tax increases that started from the amount of income of $ 250,000, rejected the proposal.
Significant growth also revealed the Canadian dollar, which has appreciated sharply after the publication of data for Canada, which showed that an investment of Canadians in foreign securities declined much less than expected. According to the report, investment fell to 13.26 billion, compared to 14.12 billion last month, and expectations at around 9.81 billion Canadian dollars.
00:00 New Zealand ANZ Business Confidence November 26.4
00:01 United Kingdom BOE Quarterly Bulletin IV quarter
00:30 Australia RBA Meeting's Minutes
The yen fell toward its lowest level since April 2011 before the Bank of Japan begins a two-day meeting tomorrow with incoming Prime Minister Shinzo Abe pressing it to engage in further policy easing. The yen declined versus all of its 16 major counterparts as BOJ Governor Masaaki Shirakawa met Abe today and gains in stocks worldwide sapped demand for safer assets. Shirakawa said today he spoke with Abe and there was no discussion of monetary policy. The BOJ governor may visit LDP headquarters later today and discuss monetary policy with Abe, Jiji reported earlier, without citing anyone.
In the U.S., President Barack Obama put forward a new budget offer that would raise taxes by $1.2 trillion and increase tax rates for households earning more than $400,000 a year, said a person familiar with the talks. Obama’s plan would cut $1.22 trillion in federal spending, including interest savings, said the person, who spoke on condition of anonymity. House Speaker John Boehner said in his Dec. 14 offer that he would accept $1 trillion in revenue, up from $800 billion, according to a person familiar with the talks.
Australia’s currency held a drop from yesterday after the Reserve Bank released minutes from its meeting this month when policy makers cut interest rates. Demand for the U.S. dollar was limited amid signs of progress in budget negotiations.
EUR/USD: during the Asian session, the pair rose to $1.3175.
GBP/USD: during the Asian session, the pair rose to yesterday's high of $1.6215.
USD/JPY: during the Asian session, the pair rose to Y84.10.
UK data is expected at 0930GMT, with the release of the November consumer and producer inflation numbers. CPI has of course misbehaved for policymakers in recent months, persistently defying the downward path set for it by Bank of England forecasters. The narrative here continues to be one of energy and commodity prices propped up by strong demand from the BRICs despite economic weakness in the industrialised OECD countries. UK CPI is seen at +2.7% y/y.
(pare/closed(00:00 GMT +02:00)/change, %)
EUR/USD $1,3163 +0,05%
GBP/USD $1,6202 +0,28%
USD/CHF Chf0,9174 -0,09%
USD/JPY Y83,88 +0,45%
EUR/JPY Y110,41 +0,50%
GBP/JPY Y135,89 +0,73%
AUD/USD $1,0550 -0,07%
NZD/USD $0,8449 -0,04%
USD/CAD C$0,9833 -0,31%
00:00 New Zealand ANZ Business Confidence November 26.4
00:01 United Kingdom BOE Quarterly Bulletin IV quarter
00:30 Australia RBA Meeting's Minutes -
08:00 Switzerland KOF Institute Economic Forecast Quarter I
09:30 United Kingdom HICP, m/m November +0.5% +0.2%
09:30 United Kingdom HICP, Y/Y November +2.7% +2.6%
09:30 United Kingdom HICP ex EFAT, Y/Y November +2.6% +2.6%
09:30 United Kingdom Retail Price Index, m/m November +0.6% +0.2%
09:30 United Kingdom Retail prices, Y/Y November +3.2% +3.2%
09:30 United Kingdom RPI-X, Y/Y November +3.1% +3.1%
09:30 United Kingdom Producer Price Index - Input (MoM) November +0.4% +0.1%
09:30 United Kingdom Producer Price Index - Input (YoY) November +0.1% -0.1%
09:30 United Kingdom Producer Price Index - Output (MoM) November +0.1% +0.1%
09:30 United Kingdom Producer Price Index - Output (YoY) November +2.5% +2.5%
10:30 United Kingdom BOE Inflation Letter December
13:30 U.S. Current cccount, bln Quarter III -117 -105
15:00 U.S. NAHB Housing Market Index December 46 48
21:45 New Zealand Current Account Quarter III -1.80 -4.28
23:30 Australia Leading Index October +0.7%
23:50 Japan Adjusted Merchandise Trade Balance, bln November -624.3 -848.2
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