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Analytics, News, and Forecasts for CFD Markets: currency news — 21-12-2012.
In today's trading the yen and the dollar strengthened, which was caused by the flight of investors in these assets due to concerns that a deal to reduce the deficit will not be achieved, against which spending cuts and tax increases will not be possible to avoid.
The single currency has lost all of his conquered during the day, the position relative to the dollar, after it was reported that a scheduled vote on the plan, Speaker John Boehner was canceled. Note that members of the House of Representatives and the Senate decided to continue voting after Christmas. Note that to solve the problem they will have less than a week. Meanwhile, to reach an agreement, Boehner should receive sufficient support from the Republicans, and to maintain control over his party, relying on the votes of Democrats who need to take any action. In addition, the decline of the euro has also been caused by the statement that the Italian Prime Minister Mario Monti will retire.
Showed a significant drop in today and the pound, which fell to a seven-week high against the dollar after a report showed that the UK economy grew in the third quarter, less than previously estimated, and the budget deficit unexpectedly increased last month. It is learned that the gross domestic product grew by 0.9%, while the original estimate was 1%. Between it, the deficit without state support of banks was 17.5 billion pounds compared with 16.3 billion pounds a year earlier.
In addition, the London research group GfK said its sentiment index fell to -29 in November from -22 in November, which was the highest level since May 2011.
Pair USD/CAD updated intraday high 0.9927 after the block statistics, the U.S. and Canada.
Canadian GDP in October showed the dynamics at the level of 0.1% m / m and 1.1% y / y vs. 0% / 1% in September, coinciding with the forecasts.
Canada's consumer price index in November reflected the dynamics at the level of -0.2% m / m and +0.8% y / y in November against a 1.2% rise. Baseline figure which does not include food and energy, remained in the flat m / m, while increased by 1.2% y / y vs. 1.3% expected. November's CPI rise annual rate was the lowest since October 2009.
EUR/USD $1.3100, $1.3180, $1.3200, $1.3250, $1.3300, $1.3320
USD/JPY Y83.75, Y84.00, Y84.20, Y84.50, Y84.60, Y85.00
GBP/USD $1.6200, $1.6195
EUR/GBP stg0.8100, stg0.8200
EUR/CHF Chf1.2155
AUD/USD $1.0400, $1.0495, $1.0500, $1.0600
NZD/USD $0.8375
AUD/NZD NZ$1.2700
07:00 Germany Gfk Consumer Confidence Survey January 5.9 5.9 5.6
09:30 United Kingdom Current account, bln Quarter III -20.8 -13.7 -12.8
09:30 United Kingdom PSNB, bln November 6.5 14.8 15.3
09:30 United Kingdom GDP, q/q (finally) Quarter III +1.0% +1.0% +0.9%
09:30 United Kingdom GDP, y/y (finally) Quarter III -0.1% -0.1% 0.0%
EUR / USD was trading without a trend at the time, as investors continue to closely follow the news from the U.S. in terms of the budget negotiations for 2013. Now that Plan B was not supported, Boehner expects Obama and Reid put forward a proposal. The President expressed hope for a quick bipartisan solution to this problem, but the chances of reaching agreement early becoming less.
GfK Group study showed that the decline in consumer sentiment in Germany, seems to have continued in 2013, and is expected to decline in the indicator to a 13-month low in January. The indicator fell from 6.0 in November to 5.8 in December (revised from 5.9). Component of economic expectations fell by 3.3 pips. after three months of growth before. "Consumers expect that the German economy will survive the difficult times in the coming months," according to the research company.
The British pound is reduced after the block statistics. GDP grew by 0.9% compared to Q2. to 1% in the previous assessment, as shown by the Office of Statistics. Consumer spending rose by 0.4% against 0.6% previously, and savings ratio peaked in 3 years. The UK economy grew less than expected, in Q3. The reason - as strong growth in services, trade and consumer spending.
In Q3 current account balance Britain reflected a surplus of £ 12.800 billion against the deficit of £ 17.433 billion in Q2. and forecasts for the level - £ 14.000 billion
In the 3rd quarter the volume of business investment in the UK rose by 5.1% y / y vs. 3.1% in the previous quarter. Figure for the quarter reflected the rise of 3.8% compared with 3.7% in the previous 3 months, and forecasts of 3.5%.
The index of activity in the service of Great Britain in October reflected the rise of 1.1% compared to 1.3% in October, which was in line with forecasts.
EUR / USD: during the European session, the pair rose to $ 1.3228
GBP / USD: during the European session the pair fell to the low of $ 1.6233
USD / JPY: during the European session, the pair rose to Y84.28
EUR/USD
Offers $1.3295/310, $1.3240/50
Bids $1.3150/40, $1.3125/15, $1.3100, $1.3085/80
GBP/USD
Offers $1.6400, $1.6380, $1.6330-50, $1.6310
Bids $1.6235/30, $1.6220, $1.6195/90, $1.6155/50
AUD/USD
Offers $1.0575, $1.0555/60, $1.0510, $1.0500, $1.0480/90
Bids $1.0400, $1.0380, $1.0350
EUR/JPY
Offers Y113.00, Y112.50, Y112.00, Y111.50
Bids Y110.50, Y110.00, Y109.50
USD/JPY
Offers Y85.50, Y85.00, Y84.75/80, Y84.45/40
Bids Y83.20, Y83.00
EUR/GBP
Offers stg0.8280, stg0.8220 , stg0.8195/200, stg0.8170
Bids stg0.8115/10, stg0.8095/90, stg0.8080, stg0.8065/60
After falling below 1.3200 to a low of 1.3179 pair EUR/USD for some time maintained at the level of the mark, and then rushed to the maximum in the 1.3228.
At the moment, prices are still kept below this level in the 1.3210 area. Meanwhile, Commissioner Rehn said that a more active policy to reduce the cost in France is not required, while the reform of the pension system still needs to happen. Portuguese Prime Minister told Parliament that Europe in 2012, has been successful. We also learned that the Italian consumer confidence in December rose to 85.7 against 84.8 in November and 85.1 in the forecasts.
After the publication of the mixed data from the British pair GBP / USD hit 1.6259, recovering from a low of 1.6243. Q3 GDP grew by only 0.9% q / q and 0% y / y vs. 1.0% in / -0.1%.
EUR/USD $1.3100, $1.3180, $1.3200, $1.3250, $1.3300, $1.3320
USD/JPY Y83.75, Y84.00, Y84.20, Y84.50, Y84.60, Y85.00
GBP/USD $1.6200, $1.6195
EUR/GBP stg0.8200
AUD/USD $1.0400, $1.0500, $1.0600
NZD/USD $0.8375
In yesterday's trading yen close to a nearly 20-month low against the dollar after the Bank of Japan announced an increase in the program of monetary stimulus by 10 trillion yen ($ 119 billion) to 76 trillion yen., But kept its inflation target at 1%.
Japan's currency fell against all major currencies this month, as the newly elected Japanese Prime Minister Shinzo Abe urged the Bank of Japan to double the threshold of inflation. The single currency is close to eight-month high against the dollar, due to the growth of the regional consumer confidence with three-and-a-half year low. But in spite of this, the U.S. currency still managed to regain most of the lost ground, what happened after the release of data from the U.S. Department of Commerce, which showed that the economy in the third quarter grew by 3.1%, compared with a preliminary estimate for level of 2.7%. Most analysts believe that growth will accelerate to 2.8% only.
At the same time, U.S. lawmakers continue to try to reach an agreement to prevent more than $ 600 billion in tax increases and spending cuts, due to start in January. While Republicans are trying to overcome their internal gaps related to taxes, by combining spending cuts, the White House said that the proposal is not acceptable, and therefore it can be seen that the negotiations between President Barack Obama and Boehner regress.
00:01 United Kingdom Gfk Consumer Confidence December -22 -26 -29
05:00 Japan BoJ monthly economic report December
The euro pared a weekly gain versus the greenback after House Republican leaders canceled a scheduled vote on Speaker John Boehner’s plan to allow higher tax rates for annual incomes above $1 million. Boehner, an Ohio Republican, said in a statement his tax measure “did not have sufficient support from our members to pass.” A House leadership announcement said the chamber will hold no more votes until after the Christmas holiday and will return “when needed.”
The 14-day relative strength index for the dollar against the euro was at 35 today, rising above 30 for the first since since Dec. 17, the level at which some investors view as an indication an asset may have fallen too far too quickly and is set to reverse direction.
The Australian and New Zealand dollars dropped as Asian shares and U.S. stock futures declined.
EUR/USD: during the Asian session the pair fell to $1.3180.
GBP/USD: during the Asian session the pair fell at yesterday's low of $1.6240.
USD/JPY: during the Asian session the pair fell at yesterday's low of Y83.85.
European data for Friday starts at 0700GMT with construction orders and import prices data from Germany, followed at 0710GMT by German GfK consumer confidence data. UK data is all due at 0930GMT. The Public Sector Finances data is expected to see PSNB grow to 14.5 billion, while PSNB-X grows to 16.4 billion. US: data starts at 1330GMT with Durable Goods and Personal Income, Expenditures. This is followed at 1455GMT by the University of Michigan Sentiment Index, which is expected to be revised up to75.0 in December, still well below the 82.7 reading in November.
(pare/closed(00:00 GMT +02:00)/change, %)
EUR/USD $1,3243 +0,14%
GBP/USD $1,6277 +0,20%
USD/CHF Chf0,9114 -0,20%
USD/JPY Y84,37 -0,02%
EUR/JPY Y111,74 +0,11%
GBP/JPY Y137,32 +0,15%
AUD/USD $1,0481 +0,01%
NZD/USD $0,8337 -0,04%
USD/CAD C$0,9875 -0,12%00:01 United Kingdom Gfk Consumer Confidence December -22 -26 -29
05:00 Japan BoJ monthly economic report December
07:00 Germany Gfk Consumer Confidence Survey January 5.9 5.9
09:30 United Kingdom Current account, bln Quarter III -20.8 -13.7
09:30 United Kingdom PSNB, bln November 6.5 14.8
09:30 United Kingdom GDP, q/q (finally) Quarter III +1.0% +1.0%
09:30 United Kingdom GDP, y/y (finally) Quarter III -0.1% -0.1%
13:30 Canada Consumer Price Index m / m November +0.2% -0.1%
13:30 Canada Consumer price index, y/y November +1.2% +1.0%
13:30 Canada Bank of Canada Consumer Price Index Core, m/m November +0.3% +0.1%
13:30 Canada Bank of Canada Consumer Price Index Core, y/y November +1.3% +1.3%
13:30 Canada GDP (m/m) October 0.0% +0.1%
13:30 U.S. Durable Goods Orders November 0.0% +0.9%
13:30 U.S. Durable Goods Orders ex Transportation November +1.5% -0.1%
13:30 U.S. Durable goods orders ex defense November +1.7% -1.1%
13:30 U.S. Personal Income, m/m November 0.0% +0.4%
13:30 U.S. Personal spending November -0.2% +0.5%
13:30 U.S. PCE price index ex food, energy, m/m November +0.1% -0.1%
13:30 U.S. PCE price index ex food, energy, Y/Y November +1.7% +1.6%
14:55 U.S. Reuters/Michigan Consumer Sentiment Index (finally) December 74.5 75.2
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