Analytics, News, and Forecasts for CFD Markets: currency news — 22-02-2013.

Data

02:00 New Zealand Credit Card Spending January +1.0% -2.5%

07:00 Germany GDP (QoQ) (Finally) Quarter IV -0.6% -0.6% -0.6%

07:00 Germany GDP (wda) (YoY) (Finally) Quarter IV +0.1% +0.1% +0.1%

09:00 Germany IFO - Business Climate February 104.2 104.9 107.4

09:00 Germany IFO - Current Assessment February 108.0 108.0 110.2

09:00 Germany IFO - Expectations February 100.5 100.8 104.6

The euro lost all previously won positions against the dollar after the European Central Bank said that the bank will pay 1.74 billion euros for the first loan LTRO on February 27 against 3.79 billion euros the previous week. Meanwhile, the ECB announced that nine banks paid the first loan LTRO 27 February to 9 banks in the previous week, and 356 bank loan payments for the 2nd operation LTRO on February 27. In addition, the European Central Bank said that the bank will pay 61.1 billion euros in the second three-year loan LTRO on February 27.

The pressure on the European currency has also forecast by the European Commission, according to which, eurozone GDP will decrease by 0.3% in 2013 and grow by 1.4% in 2014, while the budget deficit in the euro area will be 2.8% of GDP in 2013 and 2.7% in 2014. Recall that the Commission previously predicted growth of euro area GDP by 0.1% in 2013 and 1.4% in 2014

The Australian dollar rose sharply against the dollar, departing from a seven-week low amid comments head RBA Stevens, who echo the statements of the last minutes of the Bank, and concluded that the monetary easing "done its job" in supporting the Australian economy. In addition, he noted that for an intervention to weaken the Australian dollar threshold is quite high and it is necessary to be sure that the currency is seriously overvalued. In addition, Stevens has signaled the possible end of a cycle of declining interest rates. At the same time, economists note that the next change in interest rates is likely to be to the downside, and not increase as the economy there are increasing signs of growth. Recall that the Reserve Bank of Australia cut interest rates by 1.75 percentage points, to 3.00% in an effort to support the growth of the economy. Latest interest rate cut was in December.

Course of the New Zealand dollar rose against the dollar, which was the first time in three days, after a report showed that the amount of spending on credit cards has increased in the last month, registering with the third monthly increase in a row.

The yen traded in a narrow range, as market participants are waiting for the meeting of Prime Minister Shinzo Abe and U.S. President Barack Obama, to be held today.

EUR / USD: during the European session, the pair decreased by setting the minimum at $ 1.3155

GBP / USD: during the European session the pair fell to $ 1.5249, and then rose to $ 1.5315

USD / JPY: during the European session, the pair rose Y93.50

At 13:30 GMT, Canada will release the consumer price index and the core consumer price index from the Bank of Canada in January. Also during this time will be published data on changes in retail sales and a change in retail sales excluding auto sales for December. At 14:00 GMT Belgium publish an index of business sentiment for February.

EUR/USD

Offers $1.3300/10, $1.3275/80, $1.3245/55

Bids $1.3150, $1.3130, $1.3100

GBP/USD

Offers $1.5320/25, $1.5300, $1.5370/80, $1.5350, $1.5300, $1.5280/85

Bids $1.5250/30, $1.5220/10, $1.5185/75, $1.5130

AUD/USD

Offers $1.0450, $1.0400, $1.0375/80, $1.0350

Bids $1.0280/70, $1.0250, $1.0240/35, $1.0215, $1.0210/00

EUR/GBP

Offers stg0.8700, stg0.8680/85

Bids stg0.8610/00, stg0.8580/70

EUR/JPY

Offers Y124.50, Y124.35/40, Y124.00, Y123.75/80

Bids Y122.50, Y122.00, Y121.50

USD/JPY

Offers Y94.40, Y94.20/30, Y93.95/00, Y93.75/80, Y93.45/50

Bids Y92.80/75, Y92.65/60, Y92.50

EUR/USD $1.3150, $1.3200, $1.3225, $1.3250, $1.3270, $1.3300, $1.3350

USD/JPY Y92.00, YY93.00, Y93.35, Y93.50, 94.00, Y94.50

GBP/USD $1.5250

EUR/GBP stg0.8700

USD/CHF Chf0.9230

AUD/USD $1.0250, $1.0300

The euro declined below $1.32 for the first time in six weeks as an industry report showed services and manufacturing in the region shrank at a faster pace in February than economists forecast. The euro declined versus the majority of its 16 most-traded peers as a composite index of factory and services output in the 17-nation currency bloc fell to 47.3 from 48.6 in January, London-based Markit Economics said. Economists forecast a reading of 49, according to the median of 22 estimates in a survey. A reading below 50 indicates contraction.

The 17-nation currency fell for a third day versus the yen on speculation the European Central Bank may have to keep borrowing costs lower for longer to help spur a recovery.

The Dollar Index fell from a five-month high as manufacturing in the Philadelphia region unexpectedly contracted. Fed’s Philadelphia’s general economic index dropped to minus 12.5, the lowest reading since June, from minus 5.8 in January. Readings lower than zero signal contraction in the area covering eastern Pennsylvania, southern New Jersey and Delaware.

The yen advanced all of its major peers as former Bank of Japan Deputy Governor Kazumasa Iwata and Asian Development Bank President Haruhiko Kuroda were seen as the leading candidates to head the central bank, the Mainichi newspaper reported, without citing anyone. Iwata would be the most yen-bearish candidate because he advocates foreign-bond purchases, according to a note from Citigroup Inc. this week.

02:00 New Zealand Credit Card Spending January +1.0% -2.5%

The euro traded 0.4 percent from the lowest in six weeks before Italy’s parliamentary election starts this weekend. The 17-nation euro headed for a third weekly loss ahead of the Feb. 24-25 voting, with opinion polls showing former premier Silvio Berlusconi closing a gap with front-runner Pier Luigi Bersani.

The Australian dollar climbed after Reserve Bank of Australia Governor Glenn Stevens said today he’d need to be confident the currency is “seriously overvalued” before considering intervention to weaken it.

The yen headed for its biggest weekly gain in more than three months as investors speculated about who will take the reins at the Bank of Japan. Kazumasa Iwata, a former BOJ deputy governor and a potential candidate for the top job, said his proposal for the government and central bank to buy foreign bonds is aimed at helping prevent a global financial crisis, not weakening the yen, according to a report by Japan’s Jiji Press yesterday. Iwata’s advocacy of foreign-bond purchases makes him the most yen-bearish candidate, according to a note from Citigroup Inc. this week. Iwata and Asian Development Bank President Haruhiko Kuroda are seen as the leading contenders, the Mainichi newspaper reported yesterday, without citing anyone.

Abe is in Washington to meet President Barack Obama today. His LDP had proposed setting up a foreign bond fund until this week, when he said the need for it had lessened.

EUR / USD: during the Asian session, the pair rose above $1.3200.

GBP / USD: during the Asian session, the pair rose to $1.5320.

USD / JPY: during the Asian session, the pair rose to Y93.40.

Friday brings Germany Ifo data at 0900GMT, of note after Tuesday's positive ZEW reading but followed by flash PMI's that disappointed Thursday. The key data of the day seen at 1100GMT when the ECB announces LTRO2 repayments, market expecting around E120-125bln and will gauge reaction if amount misses this area. Italian elections still loom for this weekend with performance of Berlusconi the active factor. Ther morning's releases are followed by a very light US calendar, though expect some position adjustments into the weekend. Germany Ifo at 0900GMT.

(pare/closed(00:00 GMT +02:00)/change, %)

EUR/USD $1,3189 -0,71%

GBP/USD $1,5253 +0,14%

USD/CHF Chf0,9308 +0,42%

USD/JPY Y93,11 -0,47%

EUR/JPY Y122,81 -1,16%

GBP/JPY Y142,03 -0,33%

AUD/USD $1,0245 -0,10%

NZD/USD $0,8338 -0,22%

USD/CAD C$1,0184 +0,19%

02:00 New Zealand Credit Card Spending January +1.0%

07:00 Germany GDP (QoQ) (Finally) Quarter IV -0.6% -0.6%

07:00 Germany GDP (wda) (YoY) (Finally) Quarter IV +0.1% +0.1%

09:00 Germany IFO - Business Climate February 104.2 104.9

09:00 Germany IFO - Current Assessment February 108.0 108.0

09:00 Germany IFO - Expectations February 100.5 100.8

13:30 Canada Retail Sales, m/m December +0.2% -0.3%

13:30 Canada Retail Sales ex Autos, m/m December -0.3% +0.1%

13:30 Canada Consumer Price Index m / m January -0.6% +0.2%

13:30 Canada Consumer price index, y/y January +0.8% -0.7%

13:30 Canada Bank of Canada Consumer Price Index Core, m/m January -0.6%

13:30 Canada Bank of Canada Consumer Price Index Core, y/y January +1.1% +1.1%

14:00 Belgium Business Climate February -13.2 -11.1

15:30 U.S. FOMC Member Jerome Powell Speaks February