- Analytics
- News and Tools
- Market News
Analytics, News, and Forecasts for CFD Markets: currency news — 19-10-2012.
The euro declined for a second day against the dollar after Spanish Prime Minister Mariano Rajoy said his nation doesn’t feel under any pressure to ask for a bailout, fueling concern the debt crisis will be prolonged. Rajoy said at an EU summit in Brussels that has made "significant progress" and showed the EU that will meet their obligations. He also said that his government will decide on the assistance based on the interests of Spain.
The 17-nation currency dropped for the first time in seven days versus the yen on speculation this week’s European Union summit in Brussels will fail to provide clarity on potential financial aid for Spain and the allocation of the next tranche of Greece.
At the same time, at the summit, it was decided to create a European system of banking supervision in 2013. Germany managed to convince the EU summit to delay the creation of a European system of banking supervision. The Heads of State and Government decided to implement the plan "for 2013." Previously, several countries insisted on establishing control on January 1 next year. Diplomatic sources say that banking supervision will be operational in early 2014 and spread to all of the 6,000 banks in the euro zone. The European Central Bank (ECB) will always give national regulatory authorities on the audit assignment of individual banks. However, if necessary, the ECB could itself supervise.
The pound gained against the euro after the U.K. budget deficit narrowed. In the UK in September, net debt of the public sector amounted to 10,732 billion pounds compared with an expected 11.0 billion pounds.
Canada’s dollar weakened to an eight-week low against its U.S. counterpart after September consumer prices data trailed forecasts. In September, the annual inflation rate in Canada remained at the previous level of 1.2%, leaving the Bank of Canada is less than the arguments in favor of maintaining the upward sentiment against interest rate decision which will be announced next Tuesday.
Pound during the American session was under intense pressure amid increasing risk aversion following the publication of weak data on the U.S. housing market and corporate profits. Stock indexes in both Europe and the United States moved into the red zone, but the pound broke $1.6030 support and accelerated decline, having gone below $ 1.6000.
GBP / USD has noted the recent low of $ 1.5995, and is now trading around $ 1.6003.
Immediate support is at $ 1.5975 and $ 1.5950, and resistance - at $ 1.6030 and $ 1.6065 (today's high and MA (200) for H1).
The release of the report on existing home sales in the U.S. led to the further development of the decline in the pair EUR / USD. Price already noted at least in the area of 1.3020, and is preparing to end Friday trading down, but in general for the week remains in the green zone.
Already a decent growth rate existing home sales in August was revised to increase from 7.8% to 8.1%, $ 4.83 million, but the September sales fell 1.7% to $ 4.75 million. Result is almost coincided with the expectations of analysts.
EUR/USD $1.3015, $1.3050, $1.3100, $1.3175, $1.3195, $1.3200
GBP/USD $1.6050
AUD/USD $1.0225, 1.0350, $1.0380, $1.0400
USD/JPY Y79.00, Y79.10, Y79.25
EUR/JPY Y103.50
AUD/JPY Y81.10
AUD/NZD Nz$0.8100
Data
04:30 Japan All Industry Activity Index, m/m August -0.6% +0.2% +0.1%
06:00 Germany Producer Price Index (MoM) September +0.5% +0.3% +0.3%
06:00 Germany Producer Price Index (MoM) September +1.6% +1.6% +1.7%
06:35 Japan BOJ Governor Shirakawa Speaks -
08:00 Eurozone Current account, adjusted, bln August 8.8 11.3 8.8
08:00 Eurozone EU Economic Summit -
08:30 United Kingdom PSNB, bln September 12.4 11.8 12.8
The euro fell for a second day against the dollar on speculation the European Union summit this week in Brussels will be unable to provide clarity on the potential financial assistance for Spain.
The single currency fell for the first time in seven days against the yen after the Spanish Prime Minister Mariano Rajoy said that his country does not feel any pressure to go for help. Rajoy said at an EU summit in Brussels that has made "significant progress" and showed the EU that will meet their obligations. He also said that his government will decide on the assistance based on the interests of Spain.
The pound rose for the first time in four days against the euro after a report showed that the UK's budget deficit reached the lowest level since 2008.
Sterling may show a fourth weekly decline against the dollar, which would be the longest strip of losses over the past four months. Note that today the Bank of England, David Miles said that the UK economy is not recovering as he had hoped. At the same time, the yield on 10-year bonds reached 1.96% mark yesterday, which is the highest value for the month.
It is learned from the Office for National Statistics, the UK deficit without state support for banks has narrowed to 12.8 billion pounds from 13.5 billion pounds a year earlier.
The yen rose after French President Francois Hollande said that the leaders at the meeting did not discuss the allocation of EU aid for Spain, stimulating demand for safe assets.
EUR/USD: during the session, the pair is trading at c decrease the minimum values at $ 1.3040
GBP/USD: a pair of sharply increased from the minimum values session, setting all-time high of $ 1.6067, followed by a rapid fall in the currency which is close to its lowest level of the day
USD/JPY: currency in today's trading decreased by setting minimum at Y79.13, then rebounded slightly
At 12:30 GMT, Canada will release the consumer price index and the core consumer price index from the Bank of Canada in September. Finish the day at 14:00 GMT U.S. data on the volume of sales in the secondary market in September.
EUR/USD
Offers $1.3150, $1.3120, $1.3100
Bids $1.3020, $1.3000, $1.2980, $1.2950
AUD/USD
Offers $1.0500, $1.0450, $1.0420, $1.0400
Bids $1.0340, $1.0320, $1.0300
GBP/USD
Offers $1.6150, $1.6115/20, $1.6095/00, $1.6080
Bids $1.6025/20, $1.0605/00, $1.5980/75
EUR/JPY
Offers Y104.80, Y104.50, Y104.20, Y104.00
Bids Y103.20, Y103.00, Y102.80
USD/JPY
Offers Y80.00, Y79.80
Bids Y79.20, Y79.05/00, Y78.85/80, Y78.70, Y78.65/60
EUR/GBP
Offers stg0.8280, stg0.8250, stg0.8180
Bids stg0.8120, stg0.8100, stg0.8085/80, stg0.8070
At the summit, there has been significant progress in the EU integration
I will ask for help if needed
We will do what is in the interest of the Spaniards
Still was no decision on the potential sources of assistance
Direct recapitalization of the banks is not the main problem for Spain
Plans to recapitalize EU banks
Decision of EU leaders will boost confidence
Need to carry out reforms, reduce deficit
Germany's position on the integration of a "very constructive"
We are still trying to establish a direct recapitalization of Spanish banks
I never make decisions under pressure in his entire political career
I do not give in to pressure to a request for assistance
Did not discuss changing the target level of the budget deficit
The general strike will not help the country and will not allow the economic problems
Unions are concerned about the call for the general strike
E3.4-E3.8bln tap of a 3-month BTF maturing Jan 17, 2013.
E1.4-E1.8bln new 6-month BTF maturing Apr 18, 2013.
E1.0-E1.4bln tap of a 12-month BTF maturing Oct 17, 2013.
EUR/USD $1.3015, $1.3050, $1.3100, $1.3175, $1.3195, $1.3200
GBP/USD $1.6050
AUD/USD $1.0225, 1.0350, $1.0380, $1.0400
USD/JPY Y79.00, Y79.10, Y79.25
EUR/JPY Y103.50
AUD/JPY Y81.10
AUD/NZD Nz$0.8100
- Overseas economies have moved deeper into slowdown
- Must watch downside risks to global economy
- Japan's economic activity is leveling off more or less
- Must watch if Japanese firms will postpone capex plans
- Japan's economy likely to return to mild recovery path
- Overseas economies have moved deeper into slowdown
- Must watch downside risks to global economy
- Japan's economic activity is leveling off more or less
- Must watch if Japanese firms will postpone capex plans
- Japan's economy likely to return to mild recovery path
Yesterday the yen slipped to the weakest level in almost two months versus the dollar as speculation that the Bank of Japan will boost stimulus measures sapped demand for the nation’s assets as a haven. This month, the Bank of Japan may disclose the assumption that in the next two financial years, he could not reach the target level of inflation at 1%. Later this month, the central bank will release updated economic forecasts for 2012/13., As well as the original forecasts for 2014 fiscal year. This publication is to show that the CPI excluding food does not make it to the 1%. The fall in prices accelerated in May, which increased the pressure on the central bank with respect to reverse deflation and stimulate economic growth. Experts predict that at the meeting of October 30 Bank of Japan newly expanded program of asset purchases.
The euro snapped a two-day gain versus the dollar as German Chancellor Angela Merkel said the region’s debt crisis won’t be quickly solved. Market participants still do not expect that the summit will be taken any important decisions. Spain, as expected, will not make a request for assistance, at least until next month. In addition, the EU's leaders are unlikely to make a decision about whether to grant Greece the next tranche of aid. However, the euro was supported by the hope that in the coming weeks, Spain finally make concessions and ask for help, and the partners of Greece from the euro zone, in the end, to give the country more time to achieve target levels of budget deficits.
The U.S. dollar regained some lost ground after the release of U.S. economic data, will weaken investor confidence in the strength of the economic recovery. The dollar rose after a report according to which the number of applications for unemployment benefits in the U.S. rose more than expected. Meanwhile, the index of business activity Philadelphia Fed pointed to some weakness.
The pound rose against the dollar after the September retail sales in Britain were more than expected. Key indicator and the indicator excluding fuel reported an increase of 0.6% against expectations of 0.4%. In annual terms, the main index remained unchanged at 2.5%, while the indicator excluding fuel rose 2.9% vs. 2.1% and 2.4% respectively.
04:30 Japan All Industry Activity Index, m/m August -0.6% +0.2% +0.1%
The yen fell against most major peers amid prospects that the Bank of Japan will boost stimulus measures, reducing demand for the nation’s assets as a haven.
Japan’s currency traded near the weakest level since August versus the dollar as the premium two-year U.S. Treasuries offered relative to their Japanese peers reached the highest in two months. The yen was poised for the biggest five-day decline in nine weeks.
The euro headed for a weekly gain against the greenback as European leaders committed to their goal of creating a regional bank supervisor by year-end. Leaders will seek to agree on a framework to establish the European Central Bank as the main bank supervisor by Jan. 1, according to officials at the summit. The common supervisor would put the euro zone a step closer to being able to provide direct bank aid from its firewall fund to nations such as Spain.
Gains in the common currency were limited before data that may underscore the deepening impact of the debt crisis. An index of household sentiment in the euro area was at minus 26 in October from 25.9 the previous month, according to the median estimate of economists surveyed by Bloomberg News before the data on Oct. 23. That would be the lowest since May 2009.
EUR/USD: during the Asian session, the pair traded in the range of $1.3050-80.
GBP/USD: during the Asian session, the pair rose, recovering from yesterday's fall.
USD/JPY: during the Asian session, the pair traded in the range of Y79.30-40.
The week comes to an end with a fairly light data calendar. However, European politics will likely provide plenty of headlines. The EU leaders summit continues in Brussels and will likely see a plethora of press conferences from the various leaders. Early data in the UK sees the release of the John Lewis department store sales data for the Oct 13 week. The data is due just ahead of 0600GMT. The UK's September Public sector finances data is released at 0830GMT. The main US release for the session is expected at 1400GMT, with the release of the September NAR Existing Home Sales report. Also at 1400GMT, the September BLS State Unemployment numbers are out. Late US data, expected at 2015GMT, sees the release of the C&I loans numbers.
(pare/closed(00:00 GMT +02:00)/change, %)
EUR/USD $1,3068 -0,35%
GBP/USD $1,6067 -0,44%
USD/CHF Chf0,9244 +0,23%
USD/JPY Y79,28 +0,32%
EUR/JPY Y103,61 -0,05%
GBP/JPY Y127,22 -0,24%
AUD/USD $1,0367 -0,06%
NZD/USD $0,8186 -0,37%
USD/CAD C$0,9856 +0,78%04:30 Japan All Industry Activity Index, m/m August -0.6% +0.2%
06:00 Germany Producer Price Index (MoM) September +0.5% +0.3%
06:00 Germany Producer Price Index (MoM) September +1.6% +1.6%
06:35 Japan BOJ Governor Shirakawa Speaks -
08:00 Eurozone Current account, adjusted, bln August 9.7 11.3
08:00 Eurozone EU Economic Summit -
08:30 United Kingdom PSNB, bln September 12.4 11.8
12:30 Canada Consumer Price Index m / m September +0.2% +0.3%
12:30 Canada Consumer price index, y/y September +1.2% +1.2%
12:30 Canada Bank of Canada Consumer Price Index Core, m/m September +0.3% +0.4%
12:30 Canada Bank of Canada Consumer Price Index Core, y/y September +1.6% +1.5%
14:00 U.S. Existing Home Sales September 4.82 4.73
© 2000-2025. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
