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Analytics, News, and Forecasts for CFD Markets: currency news — 21-09-2012.
The euro rose against the dollar after the media reported that the euro-area policy will present a program of financial rescue Spain in the beginning of next week.
The single currency rose for the first time in four days against the yen after the Financial Times said that officials of Spain and the European Union are working on plans for bond purchases by the European Central Bank to support the economy of countries in need.The plan will be announced on September 27 and will focus on structural reforms in the economy of Spain, at the request of the EU, not in new taxes and spending cuts.
Also today, the Spanish Prime Minister Mariano Rajoy will meet with his Italian counterpart Mario Monti in Rome.
The pound rose to its highest level in over a year against the dollar, despite the fact that the United Kingdom reported the largest budget deficit in August.
The Canadian dollar was down against the U.S. dollar after the controversial data on consumer prices in Canada in August. Basic annual inflation in Canada was 1.6%, below the Bank of Canada's target of 2% in the medium term. Overall inflation was 1.2%. Economists had expected core inflation of 1.5%, and the total - 1.3%.
Stimulating the Fed "help" accelerate the growth
Stimulating the Fed should reduce the downside risks to the economy
Actions were necessary because of the slowing economy, weak labor market
While the Fed's actions "justified," they "open to discussions"
Rise in house prices - a positive sign of progress
Purchases of mortgage-backed securities the Fed could help housing sector
The rise of the housing sector can contribute to world economic growth
The Fed should reduce the cost of mortgage
The improvement in the housing market will boost confidence
Economic activity slows
U.S. and Japan need medium-term plan
The global economy should emerge from the influence of the eurozone crisis
We must address the root causes prizisa not stop halfway
Adjustment of the eurozone economy was significant, except in Greece
No one should be talking about the benefits of the new Greek debt write-offs
Greece must implement a second program
Unlimited ECB bond purchases have their limits
Italy should continue successful reforms
No one wants to exit of Greece from the eurozone
Europe remains strong for a long period
The liquidity of the ECB can not always keep the economy
EUR/USD $1.2900, $1.2910, $1.2940, $1.2990, $1.3085, $1.3100
USD/JPY Y78.20, Y78.40
GBP/USD $1.6250, $1.6120
EUR/GBP stg0.7945
AUD/USD $1.0410, $1.0450, $1.0460
AUD/JPY Y82.50
Data
00:00 Australia Conference Board Australia Leading Index July +0.2% +0.0%
03:00 New Zealand Credit Card Spending August +0.1% +1.9%
08:30 United Kingdom PSNB, bln August -1.8 13.0 12.3
The euro rose against the dollar after the media reported that the euro-area policy will present a program of financial rescue Spain in the beginning of next week.
The single currency rose for the first time in four days against the yen after the Financial Times said that officials of Spain and the European Union are working on plans for bond purchases by the European Central Bank to support the economy of countries in need. The plan will be announced on September 27 and will focus on structural reforms in the economy of Spain, at the request of the EU, not in new taxes and spending cuts.
The Australian dollar rose sharply against most high-yielding currencies after the Federal Reserve Bank of Minneapolis President Narayana Kocherlakota said the central bank will keep interest rates at near zero for as long as the unemployment rate has fallen below 5.5 percent. Recall that the rate is kept above 8% since January 2009.
The pound rose to its highest level in over a year against the dollar, despite the fact that the United Kingdom reported the largest fiscal deficit in August.
Also today, the Spanish Prime Minister Mariano Rajoy will meet with his Italian counterpart Mario Monti in Rome.
EUR/USD: during the European session, the pair has grown rapidly, setting all-time high at $ 1.3047 and then fell to the opening level of the day
GBP/USD: pair soared to $ 1.6308, but then declined and is now at a value of $ 1.6260
USD/JPY: the pair is trading in a narrow range with a slight decline
At 12:30 GMT, Canada will release data on the consumer price index, consumer price index, the main consumer price index from the Bank of Canada in August, and the change in the volume of wholesale trade for July.
EUR/USD
Offers $1.3165/75, $1.3110/20, $1.3100, $1.3075/85, $1.3045/50
Bids $1.3000/990, $1.2920, $1.2900, $1.2855/50
GBP/USD
Offers $1.6390/400, $1.6350, $1.6340
Bids $1.6150/40, $1.6120, $1.6085/80, $1.6060/50
AUD/USD
Offers $1.0570/80, $1.0540/50, $1.0520, $1.0490/5.00
Bids $1.0350/40, $1.0168
EUR/GBP
Offers stg0.8070/80, stg0.8045/50, stg0.8020
Bids stg0.7970, stg0.7945/40
USD/JPY
Offers Y79.30, Y78.37
Bids Y78.00, Y77.80/75, Y77.60
EUR/JPY
Offers Y103.80/4.00, Y101.67
Bids Y100.80/60, Y100.50
EUR/USD $1.2900, $1.2910, $1.2940, $1.2990, $1.3085, $1.3100
USD/JPY Y78.20, Y78.40
GBP/USD $1.6250, $1.6120
EUR/GBP stg0.7945
AUD/USD $1.0410, $1.0450, $1.0460
AUD/JPY Y82.50
00:00 Australia Conference Board Australia Leading Index July +0.2% +0.0%
03:00 New Zealand Credit Card Spending August +0.1% +1.9%
The yen headed for a weekly gain against most major peers as signs of a global economic slowdown spurred demand for the refuge of Japan’s currency. Reports yesterday showed a composite index for manufacturing and services industries in the euro area dropped to a three-year low and a factory output gauge in China signaled contraction for an 11th month.
The euro was poised for the biggest five-day decline since July against the greenback before data next week forecast to show German business sentiment remained near the lowest in more than two years. The Ifo institute in Munich will probably say its business climate index, based on a survey of 7,000 executives, was at 102.8 this month from 102.3 in August, according to the median estimate of economists surveyed by Bloomberg News before the data on Sept. 24. Last month’s reading was the lowest since March 2010.
Losses in the euro were limited before Spanish Prime Minister Mariano Rajoy meets his Italian counterpart Mario Monti today in Rome. The Financial Times reported that Spanish and European Union officials were working on plans to trigger European Central Bank bond purchases.
The plan will be announced on Sept. 27 and will focus on structural reforms to the Spanish economy requested by the EU, rather than new taxes and spending cuts, the newspaper said yesterday, citing officials involved in the talks.
The International Monetary Fund will cut economic forecasts for the global economy “by a few decimal points,” a fund official said yesterday.
EUR/USD: during the Asian session, the pair rose to $1.3300.
GBP/USD: during the Asian session, the pair rose above $1.6250.
USD/JPY: during the Asian session, the pair traded in the range of Y78.20-40.
At 1300GMT, German Finance Minister Wolfgang Schaeuble talks to the foreign press, in Berlin. The data calendar gets underway just ahead of 0600GMT, when UK retailer John Lewis release their latest weekly sales numbers. Despite a fairly sluggish UK retail sector. Lewis has been an outperformer. UK public sector finance data is expected at 0830GMT. No major US releases are expected at 1230GMT, but Canadian inflation data is slated for release, with consumer prices for August and also wholesale sales numbers for July expected. US data kicks off at 1400GMT, with he release of the August BLS unemployment and mass lay-off data. At 1640GMT, Atlanta Federal Reserve Bank Pres Dennis Lockhart speaks to the Atlanta Institute of Internal Auditors on the subject of "U.S. Economic Outlook and Monetary Policy." He will answer questions from the audience. Late data, out at 2015GMT, sees U.S. C&I loans numbers hit the screens.
Yesterday the euro dropped the most in two months against the dollar as services and manufacturing in the region shrank to a three-year low, adding to evidence the central bank will need to do more to spur growth.
The yen and the dollar strengthened against most of their major counterparts as demand for the perceived safety of those nations’ assets increased after separate reports showed China’s manufacturing and Japanese exports declined for a third month.
A preliminary reading was 47.8 for a China purchasing managers’ index released today by HSBC Holdings Plc (HSBA) and Markit Economics, compared with a final level of 47.6 last month. Japan’s overseas shipments slid 5.8 percent on weakness in demand from Europe and China.
The euro weakened against most of its 16 major peers even after Spain’s borrowing costs fell at a 4.8 billion-euro auction of three- and 10-year debt, the biggest since January. The sale came amid expectations the nation will ask the European Central Bank to buy its debt.
A composite index based on a survey of purchasing managers in euro-area services and manufacturing industries dropped to 45.9 for September, the lowest since June 2009, London-based Markit Economics said in an initial estimate. A reading below 50 indicates contraction.
Australia’s currency fell as the Chinese data clouded the prospects for the South Pacific nation’s resource exports.(pare/closed(00:00 GMT +02:00)/change, %)
EUR/USD $1,2964 -0,62%
GBP/USD $1,6214 -0,04%
USD/CHF Chf0,9328 +0,54%
USD/JPY Y78,23 -0,17%
EUR/JPY Y101,43 -0,79%
GBP/JPY Y126,84 -0,20%
AUD/USD $1,0429 -0,43%
NZD/USD $0,8287 +0,34%
USD/CAD C$0,9765 +0,20%
00:00 Australia Conference Board Australia Leading Index July +0.2% +0.0%
03:00 New Zealand Credit Card Spending August +0.1%
08:30 United Kingdom PSNB, bln August -1.8 13.0
12:30 Canada Consumer Price Index m / m August -0.1% +0.4%
12:30 Canada Consumer price index, y/y August +1.3% +1.3%
12:30 Canada Bank of Canada Consumer Price Index Core, m/m August -0.1% +0.3%
12:30 Canada Bank of Canada Consumer Price Index Core, y/y August +1.7% +1.6%
12:30 Canada Wholesale Sales, m/m July -0.1% -0.1%
13:00 Belgium Business Climate September -11.8 -11.1
16:40 U.S. FOMC Member Dennis Lockhart Speaks -
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