- Analytics
- News and Tools
- Market News
Analytics, News, and Forecasts for CFD Markets: currency news — 21-03-2012.
The dollar rose against most of its major counterparts as concern grew that risk-asset gains have outpaced prospects for economic growth, boosting appetite for the perceived safety of the greenback.
The 17-nation euro reached the highest level in almost two weeks against the dollar earlier after Greece won parliamentary approval for a bailout and as Germany and Portugal sold bonds at auctions. The euro was supported after Greece’s Prime Minister Lucas Papademos won approval for a 130-billion-euro ($172 billion) aid package. U.S. Treasury Secretary Timothy F. Geithner said today that “Greece is making progress toward sustainability.”
The yen weakened against most of its major peers as concern increased the Bank of Japan will boost stimulus. Finance Minister Jun Azumi said the Bank of Japan established an inflation target of 1 percent on Feb. 14, replacing earlier wording that the central bank had an “understanding” of where consumer prices should go. It also said it would add 10 trillion yen ($119 billion) yen of stimulus to the economy.
The pound fell against the dollar as Chancellor of the Exchequer George Osborne cut the U.K.’s top 50 percent income- tax rate and slapped a levy on purchases of the most expensive houses in a budget that maintained his drive to eliminate most of the deficit by 2017. Britain’s currency fluctuated against the euro as minutes of the Bank of England’s Monetary Policy Committee’s March 7-8 meeting showed that the policy makers Adam Posen and David Miles wanted to increase the target for bond purchases by 25 billion pounds ($40 billion) to 350 billion pounds. The seven remaining members voted to keep the current 325 billion-pound target.
Fed Chairman Ben Bernanke said that in order to complete the crisis in the eurozone,the Governments of the block must take further steps to strengthen the banking system,and also noted that the economic situation in the region remains poor, despite some easing of tension.
Bernanke added that European countries need to increase economic growth and strengthen its competitiveness, while reducing the level of imbalance in the economies of countries of concern.
Finance Minister Geithner: "I would prefer that the IMF has played a more discreet,supportive role in the rescue of Europe"
Do not want to shift the burden to resolve the crisis on the shoulders of American taxpayers
Do not addressed the question of the target an additional contribution to the IMF to help the EU
Fed Chairman Bernanke: "The United States hold the view that Europe must do more to combat the crisis'
Does not deal with the purchase of distressed debt
- despite ECB action, sovereign crisis has been significant
- OBR to revise down euro area growth by 0.8pp 2012
- OBR says worlsd growth revised down sharply 2012
- OBR says UK to avoid technical recessin
- OBR expects positive UK growth in Q1
- OBR raises UK 2012 GDP to 0.8% vs 0.7%
- OBR cuts UK 2013 GDP to 2.0% vs 2.1%
- OBR leaves UK 2014 GDP forecast unchanged at 2.7%
- OBR forecasts growth of 3.0% in 2015 and 2016
- CPI to fall from 2.8% this year to 1.9% next year
- BOE QE facility will remain in place for 2012
- Budget measures are fiscally neutral
- No deficit funded giveaways today
- OBR forecasts 2014-15 PSNB stg75bln vs stg79bln
- OBR forecasts 2015-16 PSNB stg52bln vs stg53bln
- OBR says on track to meet fiscal deficit target
- OBR forecasts 2012-13 PSNB Stg120bln VS Stg120bln
- OBR forecasts 2011-12 PSNB Stg126bln VS Stg127bln
- despite ECB action, sovereign crisis has been significant
- OBR to revise down euro area growth by 0.8pp 2012
- OBR says worlsd growth revised down sharply 2012
- OBR says UK to avoid technical recessin
- OBR expects positive UK growth in Q1
- OBR raises UK 2012 GDP to 0.8% vs 0.7%
- OBR cuts UK 2013 GDP to 2.0% vs 2.1%
- OBR leaves UK 2014 GDP forecast unchanged at 2.7%
- OBR forecasts growth of 3.0% in 2015 and 2016
- CPI to fall from 2.8% this year to 1.9% next year
- BOE QE facility will remain in place for 2012
- Budget measures are fiscally neutral
- No deficit funded giveaways today
- OBR forecasts 2014-15 PSNB stg75bln vs stg79bln
- OBR forecasts 2015-16 PSNB stg52bln vs stg53bln
- OBR says on track to meet fiscal deficit target
- OBR forecasts 2012-13 PSNB Stg120bln VS Stg120bln
- OBR forecasts 2011-12 PSNB Stg126bln VS Stg127bln
EUR/USD
Offers $1.3335/50, $1.3320, $1.3300, $1.3290
Bids $1.3230/20, $1.3200, $1.3135/20, $1.3100
GBP/USD
Offers $1.5990/6000, $1.5965/75, $1.5950, $1.5930/35
Bids $1.5820, $1.5800, $1.5780/70, $1.5735/25
USD/JPY
Offers Y85.00, Y84.50, Y84.25
Bids Y83.75/70, Y83.50/40, Y83.20/15, Y83.00
EUR/GBP
Offers stg0.8440/45, stg0.8375/85
Bids stg0.8305/00, stg0.8280/75, stg0.8265/55, stg0.8225/20
Resistance 3: Y85.50 (high of 2011)
Resistance 2: Y84.50 (psychological level)
Resistance 1: Y84.20 (area of Mar 15 high)
Current price: Y84.05
Support 1: Y83.70 (support line from Mar 19)
Support 2: Y83.00 (Mar 19 low)
Support 3: Y82.70 (intraday low on Mar 13, Mar 9 high)
Resistance 3: Chf0.9200 (Mar 15 low)
Resistance 2: Chf0.9280 (Mar 19 high)
Resistance 1: Chf0.9150 (Mar 20 high, Mar 16 low)
Current price: Chf0.9105
Support 1: Chf0.9075/70 (session low, Mar 8 low)
Support 2: Chf0.9045 (Mar 2 low)
Support 3: Chf0.9020 (Mar 1 low)
Resistance 3 : $1.6090 (Nov 11-14 highs)
Resistance 2 : $1.5970/90 (Mar 1-2 highs, high of February)
Resistance 1 : $1.5915/20 (Mar 19 high and session high)
Current price: $1.5852
Support 1 : $1.5830 (Mar 20 low)
Support 2 : $1.5750 (area of Mar 13-15 highs, МА (200) for Н1)
Support 3 : $1.5690 (Mar 15 low)
Resistance 3 : $1.3390 (Feb 28 low)
Resistance 2 : $1.3360 (Mar 1 high)
Resistance 1 : $1.3280/90 (session high, Mar 8 high)
Current price: $1.3242
Support 1 : $1.3230 (support line from Mar 16)
Support 2 : $1.3170 (Mar 20 low)
Support 3 : $1.3140 (Mar 19 low, МА (200) for Н1)
Drops from $1.5897 to $1.5856 as split on QE comes in at 7-2, Posen and Miles both voting for QE to be increased to stg350bln from current stg325bln. Forecasts had been for a 9-0 vote for both with a possibility that Posen had gone for the QE move. Rate currently trades around $1.5860. Traders earlier had suggested buying into the $1.5857 level (200-dma).
04:30 Japan All Industry Activity Index, m/m January +1.3% -0.5% -1.0%
The euro advanced against the dollar and reached a four-month high versus the yen after Greece won parliamentary approval for a new international bailout, boosting demand for European assets. Greek Prime Minister Lucas Papademos won approval for a 130 billion-euro ($172 billion) aid package. A total of 213 lawmakers voted today in favor of the legislation and 79 against, Acting Parliament Speaker Grigoris Niotis said in remarks carried live on state-run Vouli TV. Demand for the euro was also supported before the release of purchasing managers indexes tomorrow from London-based Markit Economics predicted to show German manufacturing and services growth accelerated. A measure of factory output climbed to 51 this month from 50.2 in February while a gauge of services rose to 53.1 from 52.8, according to median projections in Bloomberg News surveys of economists.
The dollar weakened before Federal Reserve Chairman Ben S. Bernanke tells Congress that financial strains in Europe have eased, according to testimony prepared for delivery today. The dollar has been supported as data signaled the U.S. recovery is gathering momentum. An industry report today is forecast to show U.S. home sales rose to the highest level since May 2010. Sales of previously owned homes are predicted to have climbed 0.9 percent to a 4.61 million annual rate, according to a Bloomberg survey of economists before today’s report from the National Association of Realtors.
Demand for the yen was limited before data tomorrow projected to show Japanese exports declined for a fifth month. Japanese exports dropped 6.5 percent in February from a year earlier, following a 9.3 percent decline the previous month, the Ministry of Finance is projected to say tomorrow, according to a Bloomberg poll of economists.
EUR/USD: during the Asian session the pair gain, updated a week’s high.
GBP/USD: during the Asian session the pair rose to yesterday's high.
USD/JPY: during the Asian session the pair traded in range Y83.50-Y83.75.
There is a big focus on the UK for Wednesday, starting at 0930GMT when the minutes of the latest Bank of England MPC meeting are released at the same time as the UK Public Sector Finances. US data starts at 1100GMT with the weekly MBA weekly mortgage applications data. At 1330GMT, Treasury Secretary Tim Geithner & Fed Chairman Ben Bernanke testify to the House Committee on Oversight on "Europe's Sovereign Debt Crisis: Causes, Consequences for the United States and Lessons Learned." US data continues at 1400GMT with NAR Existing Home Sales, which is expected to rise to a 4.62 million annual rate after a solid 4.3% jump in January. While sales have been roughly flat over the last year, home supply has plunged, pulling down the months supply. While this combination should lift prices, it appears that sellers have been willing to cut prices to make sales in many cases. The weekly EIA Crude Oil Stocks data is then due, at 1430GMT.
Yesterday the dollar rose against most of its major counterparts as concern increased that China’s economic growth outlook has cooled, spurring demand for the currency of the world’s largest economy. The U.S. currency strengthened after BHP Billiton Ltd. (BHP) said China’s steel production is slowing, boosting concern about the nation’s growth outlook. BHP, whose biggest customer is China, is re-evaluating spending plans amid slowing Chinese growth, the Australian Financial Review reported, citing comments by Chairman Jacques Nasser to investors. China’s Premier Wen Jiabao this month announced an economic growth target of 7.5 percent for this year, down from an annual 8 percent over the past seven years. Steel output growth in China, the biggest producer, may slow to 4 percent this year, the China Iron and Steel Association said March 6. Housing starts in the U.S. fell in February from a three- year high, showing the recovery in the residential real estate market will take time to develop.
The euro fell against the dollar after earlier briefly erasing losses. The euro rose 0.2 percent to 83.49 pence, after declining to 82.84 pence yesterday, the weakest since Feb. 16. The last time the currency dropped below 82.21 pence was Sept. 10, 2010. The euro fell against the greenback and pound as concern mounted about European economic growth. The Netherlands increased its 2013 budget deficit forecast to 4.5 percent of gross domestic product from a previous estimate of 4.6 percent. The German Federal Statistics Office said that producer prices climbed 0.4 percent from January, when they gained 0.6 percent.
The pound strengthened against most of its 16 major peers after U.K. data showed inflation slowed less than economist estimates in February. Consumer prices rose 3.4 percent from a year earlier, compared with the 3.3 percent median estimate.
EUR/USD: yesterday in first half of day the pair fell, however restored the losses later.
GBP/USD: yesterday the pair was under pressure.
USD/JPY: yesterday the pair gain, closed day above Y83.50.
There is a big focus on the UK for Wednesday, starting at 0930GMT when the minutes of the latest Bank of England MPC meeting are released at the same time as the UK Public Sector Finances. US data starts at 1100GMT with the weekly MBA weekly mortgage applications data. At 1330GMT, Treasury Secretary Tim Geithner & Fed Chairman Ben Bernanke testify to the House Committee on Oversight on "Europe's Sovereign Debt Crisis: Causes, Consequences for the United States and Lessons Learned." US data continues at 1400GMT with NAR Existing Home Sales, which is expected to rise to a 4.62 million annual rate after a solid 4.3% jump in January. While sales have been roughly flat over the last year, home supply has plunged, pulling down the months supply. While this combination should lift prices, it appears that sellers have been willing to cut prices to make sales in many cases. The weekly EIA Crude Oil Stocks data is then due, at 1430GMT.
Asian stocks fell after China raised fuel prices, sparking concern growth in the world’s fastest-growing major economy may slow, and a Federal Reserve official said the U.S. rebound still faces risks.
Nikkei 225 Closed
Hang Seng 20,876.75 -238.54 -1.13%
S&P/ASX 200 4,275.02 -15.78 -0.37%
Shanghai Composite 2,376.84 -33.35 -1.38%
Gome Electrical Appliances Holding Ltd., China’s second- biggest electronics retailer, dropped 4.5 percent.
Sun Hung Kai Properties Ltd. fell 2 percent after a director of the world’s No. 1 developer was arrested as part of a bribery investigation.
Transurban Group, an Australian operator of toll roads, dropped 2.6 percent after its largest shareholder sold a 7.9 percent stake at a discount.
European stocks dropped the most in two weeks as an official at China’s association of carmakers said auto sales will miss its forecast in 2012.
Vehicle sales in the world’s second-largest economy will probably miss the China Association of Automobile Manufacturers’ forecast for 2012, according to an official at the state-backed body. Total vehicle deliveries -- forecast to grow 8 percent this year -- may fail to increase by even 5 percent because of the “difficult” economy, Gu Xianghua, one of two deputies to the secretary general at the CAAM, said at a conference in Qingdao today, giving his personal opinion.
BHP Billiton said China’s steel production has slowed as the world’s fastest-growing major economy switches its focus toward consumers and away from large building projects.
National benchmark indexes declined in 15 of the 18 western-European markets.
FTSE 100 5,891.41 -69.70 -1.17%, CAC 40 3,530.83 -47.05 -1.32%, DAX 7,054.94 -99.28 -1.39%
BMW, the world’s largest maker of luxury vehicles, sank 5 percent to 68.22 euros. Daimler, whose Mercedes-Benz division is third-biggest after BMW and Audi, dropped 4.4 percent to 45.05 euros. Volkswagen, which owns Audi, slid 4.4 percent to 133.05 euros. Porsche SE decreased 3.9 percent to 44.71 euros.
BHP Billiton, the world’s biggest mining company, slid 4.1 percent to 1,965 pence as a gauge of mining shares fell. Rio Tinto Group, the world’s third-largest mining company, dropped 4.2 percent to 3,464.5 pence.
U.S. stocks declined, snapping a three-day advance for the Standard & Poor’s 500 Index, as commodities fell on concern about a Chinese economic slowdown.
Equities fell as China is raising fuel prices for the second time in less than six weeks. The nation’s vehicle sales may miss industry forecasts this year as economic growth slows, an official from the China Association of Automobile Manufacturers said. BHP Billiton (RIO), the world’s biggest mining company, said China’s steel production is slowing. In the U.S., housing starts hovered in February near a three-year high.
Dow 13,170.94 -68.19 -0.52%, Nasdaq 3,074.15 -4.17 -0.14%, S&P 500 1,405.51 -4.24 -0.30%
Caterpillar (CAT), the world’s biggest maker of construction and mining-equipment, slumped 2.6 percent to $110.76. Alcoa Inc. (АА), the largest U.S. aluminum producer, slid 1.5 percent to $10.44. Peabody Energy Corp. (BTU), the biggest U.S. coal producer, declined 5.4 percent to $31.64.
Adobe sank 3.9 percent to $33.16. Excluding some costs, profit will be 57 cents to 61 cents a share in the second quarter, Adobe said. The midpoint of that range -- 59 cents -- missed the 60 cents predicted by analysts.
Tiffany surged 6.7 percent to $73.27. The company is benefiting from stock-market gains that have prompted luxury consumers to resume jewelry purchases, a turnabout from January, when the retailer said weak spending from U.S. customers had slowed holiday sales.
Resistance 3: Y84.80 (Apr 12 high)
Resistance 2: Y84.20 (Mar 15 high)
Resistance 1: Y83.85 (Mar 20 high)
The current price: Y83.66
Support 1: Y83.30 (Mar 20 low)
Support 2: Y83.00 (Mar 19 low)
Support 3: Y82.65 (low of the American session on Mar 13)
Resistance 3: Chf0.9180 (Mar 19 high)
Resistance 2: Chf0.9150 (Mar 20 high)
Resistance 1: Chf0.9125 (high of the American session on Mar 20)
The current price: Chf0.9090
Support 1: Chf0.9080 (session low)
Support 2: Chf0.9010/20 (Feb 27 high, Mar 1 low)
Support 3: Chf0.8930/35 (area of Feb 24-29 low)
Resistance 3 : $1.5975/90 (area of Feb’s high and Mar’s high)
Resistance 2 : $1.5915 (Mar 19 high)
Resistance 1 : $1.5895 (session high)
The current price: $1.5873
Support 1 : $1.5830 (Mar 20 low)
Support 2 : $1.5745/55 (Mar 13 high, 50.0% FIBO $1.5600-$1.5915)
Support 3 : $1.5690 (Mar 16 low)
Resistance 3 : $1.3335 (Mar 2 high)
Resistance 2 : $1.3300 (61.8% FIBO $1.3005-$1.3485)
Resistance 1 : $1.3285 (session high)
The current price: $1.3268
Support 1 : $1.3250 (Mar 20 high)
Support 2 : $1.3215 (low of the American session on Mar 20)
Support 3 : $1.3170 (Mar 20 low)
(pare/closed(00:00 GMT +02:00)/change, %)
EUR/USD $1,3224 -0,09%
GBP/USD $1,5856 -0,20%
USD/CHF Chf0,9115 +0,03%
USD/JPY Y83,72 +0,37%
EUR/JPY Y110,73 +0,32%
GBP/JPY Y132,73 +0,17%
AUD/USD $1,0475 -1,29%
NZD/USD $0,8166 -1,16%
USD/CAD C$0,9915 +0,45%
04:30 Japan All Industry Activity Index, m/m January +1.3% -0.5%
09:30 United Kingdom Bank of England Minutes 0
09:30 United Kingdom PSNB, bln February -10.7 5.2
11:00 U.S. MBA Mortgage Applications March -2.4%
12:30 United Kingdom Annual Budget Release March
12:30 Canada Leading Indicators, m/m February +0.7% +0.5%
14:00 U.S. Existing Home Sales February 4.57 4.61
14:30 U.S. EIA Crude Oil Stocks change 16.03.2012 +1.8
21:45 New Zealand Gross Domestic Productб q/q IV quarter +0.8% +0.6%
21:45 New Zealand Gross Domestic Product, y/y IV quarter +1.9% +2.2%
22:10 Australia RBA Assist Gov Debelle Speaks 0
23:50 Japan Adjusted Merchandise Trade Balance, bln February -612.8 -342.5
© 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
