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Analytics, News, and Forecasts for CFD Markets: currency news — 20-07-2012.
The euro weakened to the least versus the yen since November 2000 and to a two-year low against the dollar on concern European policy makers aren’t doing enough to resolve the region’s financial crisis.
The 17-nation shared currency added to its three-week loss versus the greenback as Spain said the recession will extend into next year as the region of Valencia prepared to seek a rescue from the central government. Spanish borrowing costs approached a euro-era record high even after European finance ministers gave full approval to an aid package of as much as 100 billion euros ($122 billion) for the nation’s banks.
Spain’s benchmark 10-year bond yield climbed to as high as 7.284 percent, almost matching the 7.285 percent it touched a month ago. The 7 percent level was the threshold for global bailouts of Greece, Ireland and Portugal. Debt due in 2020 issued by Catalonia, the biggest Spanish regional economy, yielded 13.24 percent.
The yen and dollar rose against most major currencies as investors sought safety, while the euro fell against most.
The euro headed for a third weekly loss against the dollar and a fourth weekly drop versus the yen.
The pound appreciated 0.3 percent to 77.88 pence per euro and reached 77.71 pence, the strongest level since October 2008. The U.K. currency fell 0.6 percent to $1.5626.
EUR/USD $1.2200, $1.2225, $1.2250, $1.2260, $1.2300, $1.2325, $1.2385, $1.2400
USD/JPY Y78.70, Y79.30
GBP/USD $1.5650, $1.5600
AUD/USD $1.0370, $1.0300
AUD/JPY Y82.00
Data:
01:30 Australia Import Price Index, q/q Quarter II -1,2% +1,6% +2.4%
01:30 Australia Export Price Index, q/q Quarter II -7.0% 0.0% +1.0%
06:00 Germany Producer Price Index (MoM) June -0.3% -0.2% -0.4%
06:00 Germany Producer Price Index (YoY) June +2.1% +1.8% +1.6%
08:30 United Kingdom PSNB, bln June 15.6 12.5 14.4
The euro was trading with an increase in the beginning of the session, but fell sharply after it became known that during the conference call by European finance ministers will discuss the conditions for the rescue of banks in Spain.
The euro fell to a minimum by more than three years against the pound, as economists had read the forecast, which says that the gauge of consumer confidence can fall to a three-year minimum, and the production will be reduced 12 per month in a row. The dollar rose against most major currencies, while European and Asian stocks fell, which caused an increasing demand for U.S. currency.
Recall that today EU finance ministers hold a conference that would consider the terms of bank bailout in Spain. It is learned that scrip tranche of 100 billion euros
The pound weakened against the dollar after a report showed that the budget deficit in June was greater than expected. The deficit, which excludes government support for banks, amounted to 14.4 billion pounds ($ 23 billion), compared with 13.9 billion pounds a year earlier. Economists forecast a deficit in the bag are his work 13.4 billion pounds.
EUR/USD: at the beginning of session, the pair traded in a narrow range, but later fell sharply and the exchange rate reached the level of $ 1.2190
GBP/USD: a pair of mid-session trading on the maximum values of yesterday, but then fell sharply to $ 1.5660
USD/JPY: within a couple of sessions reached a minimum consolidated at Y78.45, little recoil, and is now trading in the minimum values of the day
At 12:30 GMT, Canada will provide the consumer price index for June and core consumer price index from the Bank of Canada in June.
EUR/USD
Offers $1.2320/30, $1.2300
Bids $1.2175/70, $1.2125/20
GBP/USD
Offers $1.5750/55
Bids $1.5684, $1.5660/50, $1.5625/20, $1.5600, $1.5555/50, $1.5535/30, $1.5500
EUR/JPY
Offers Y97.50, Y97.00, Y96.50
Bids Y96.00, Y95.65/60, Y95.50
AUD/USD
Offers $1.0550, $1.0500
Bids $1.0360/50, $1.0325/20, $1.0300, $1.0250
EUR/GBP
Offers stg0.7920/30, stg0.7895/900, stg0.7880/85, stg0.7845/55
Bids stg0.7785/80, stg0.7755/50, stg0.7700/690
USD/JPY
Offers Y79.00
Bids Y78.50, Y78.15/10, Y78.00
Resistance 3: Y79.95 (July 12 high)
Resistance 2: Y79.12 (July 11 low, July 18 high)
Resistance 1: Y78.70 (July 16 low, July 19 high)
Current price: Y78.58
Support 1: Y78.40 (July 19 low)
Support 2: Y78.10 (June 5 low)
Support 3: Y77.65 (June 1 low)
Resistance 3: Chf0.9875 (July 13 high)
Resistance 2: Chf0.9850 (July 16 high)
Resistance 1: Chf0.9830 (July 18 high)
Current price: Chf0.9815
Support 1: Chf0.9735/45 (July 10 and 19 low)
Support 2: Chf0.9715 (38,2% of FIBO (0.9465-0.9875), July 5 high)
Support 3: Chf0.9670/80 (50% FIBO (0.9465-0.9875), June 28 low, July 6 low)
Resistance 3: $ 1.5845 (May 22 high)
Resistance 2: $ 1.5780 (June 20 high)
Resistance 1: $ 1.5720 (July 2 and 19 high)
Current Price: $ 1.5699
Support 1: $ 1.5635 (July 19 low)
Support 2: $ 1.5590/95 (38.2% at FIBO ($ 1.5395-$ 1.5722), July 16 high)
Support 3: $ 1.5555/60 (50% FIBO ($ 1.5395-$ 1.5722), July 17 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: $ 1.2315/20 (July 17 and 19 high)
Current Price: $ 1.2229
Support 1: $ 1.2215 (July 18 low)
Support 2: $ 1.2165 (July 12 low)
Support 3: $ 1.2116 (June 2010 low)
EUR/USD $1.2200, $1.2225, $1.2250, $1.2260, $1.2300, $1.2325, $1.2385, $1.2400
USD/JPY Y78.70, Y79.30
GBP/USD $1.5650, $1.5600
AUD/USD $1.0370, $1.0300
AUD/JPY Y82.00
01:30 Australia NAB Quarterly Business Confidence Quarter II -1 -2
04:30 Japan All Industry Activity Index, m/m May +0.1% -0.2% -0.3%
The euro slid against most of its major peers before data next week that economists say will show a gauge of consumer confidence was near a three-year low and manufacturing continued to shrink in the 17-nation region. An index of household sentiment in the euro region was probably unchanged this month from June at minus 19.8, economists surveyed by Bloomberg News predict. The European Commission will release the figure on July 23. The index slid to minus 21.3 in December, the lowest since August 2009.
A gauge for manufacturing in the currency bloc is estimated to be at 45.3 in July, according to a separate survey. That’s below the 50 level that separates expansion from contraction and compares with a reading of 45.1 last month. London-based Markit Economics is scheduled to report the data on July 24.
Europe’s common currency was 0.2 percent from a more than three-year low versus the British pound after Spain’s borrowing costs surged at an auction yesterday, rekindling concern the region’s debt crisis is deepening. Spain sold five-year notes yesterday with an average yield of 6.459 percent, the highest since at least 2005, according to data compiled by Bloomberg.
The dollar strengthened against a majority of its 16 most-traded counterparts as Asian stocks fell, boosting demand for the U.S. currency as a haven.
EUR / USD: during the Asian session the pair was trading in range $1.2250-$1.2285.
GBP / USD: during the Asian session the pair was trading in range $1.5695-$1.5715.
USD / JPY: during the Asian session the pair rose to yesterday's high.
In Europe Friday, Eurozone finance ministers are due to finalise the details of the Spanish financial sector rescue plan. Scheduled European data sees Germany PPI data at 0600GMT, which is expected to come in at -0.3% m/m and 1.8% y/y. UK data sees the 0830GMT release of the Public Sector Finances. US data is limited with just the 1400/1500GMT BLS State Unemployment and Mass Layoffs data, followed later on by the 2030GMT release of C&I loans data.
The euro fell for a second day versus the dollar after German Finance Minister Wolfgang Schaeuble said Spain must take over guarantees for bailout funding, adding to concern European leaders will struggle to stem their sovereign-debt crisis.
The euro gained versus the dollar today before Schaeuble said Spain would remain liable for as much as 100 billion euros ($123 billion) of aid. German lawmakers approved their government’s participation in the euro-area bailout of Spanish banks after the assurance.
While there was broad support to help Spain, lawmakers demanded reassurances that German taxpayer money will be channeled via the Spanish government and not go directly to banks themselves. They raised concerns that loopholes may enable such a route when the program shifts from the current rescue fund to the permanent European Stability Mechanism.
Resistance 3: Y79.40 (Jul 13 high, MA (50) D1)
Resistance 2: Y79.15 (Jul 17 high, MA (200) H1)
Resistance 1: Y78.80 (session high)
Current price: Y78.61
Support 1: Y78.40 (Jul 19 low)
Support 2: Y78.00/10 (area of Jun 4-5 lows )
Support 3: Y77.65 (Jun 1 low)
Resistance 3: Chf0.9850 (Jul 17 high)
Resistance 2: Chf0.9820/30 (area of Jul 18-19 highs)
Resistance 1: Chf0.9805 (session high, MA (200) H1)
Current price: Chf0.9795
Support 1: Chf0.9775 (session low)
Support 2: Chf0.9735/45 (area of Jul 10-19 lows)
Support 3: Chf0.9685 (Jul 6 low)
Resistance 3: $ 1.5825 (May 22 high)
Resistance 2: $ 1.5775 (Jun 20 high, MA (100) D1)
Resistance 1: $ 1.5735 (Jul 19 high, MA (200) D1)
Current Price: $ 1.5704
Support 1: $ 1.5635 (Jul 19 low, MA (50) D1)
Support 2: $ 1.5580 (Jul 18 low, MA (200) H1)
Support 3: $ 1.5410 (Jul 16 low)
Resistance 3: $ 1.2400 (July 6 high)
Resistance 2: $ 1.2325/35 (area of Jul 10-19 highs)
Resistance 1: $ 1.2285 (session high)
Current Price: $ 1.2261
Support 1: $ 1.2250 (session low
Support 2: $ 1.2215/30 (area of Jul 18-19 lows)
Support 3: $ 1.2190 ( Jul 17 low)
(pare/closed(00:00 GMT +02:00)/change, %)
EUR/USD $1,2294 +0,05%
GBP/USD $1,5663 +0,10%
USD/CHF Chf0,9768 -0,06%
USD/JPY Y78,54 -0,69%
EUR/JPY Y96,55 -0,64%
GBP/JPY Y123,00 -0,58%
AUD/USD $1,0385 +0,80%
NZD/USD $0,8010 +0,52%
USD/CAD C$1,0090 -0,35%
01:30 Australia Import Price Index, q/q Quarter II -1,2% +1,6% +2.4%
01:30 Australia Export Price Index, q/q Quarter II -7.0% 0.0% +1.0%
06:00 Germany Producer Price Index (MoM) June -0.3% -0.2%
06:00 Germany Producer Price Index (YoY) June +2.1% +1.8%
08:30 United Kingdom PSNB, bln June 15.6 12.5
12:30 Canada Consumer Price Index m / m June -0.1% -0.1%
12:30 Canada Consumer price index, y/y June +1.2% +1.8%
12:30 Canada Bank of Canada Consumer Price Index Core, m/m June +0.2% -0.1%
12:30 Canada Bank of Canada Consumer Price Index Core, y/y June +1.8% +2.3%
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