Analytics, News, and Forecasts for CFD Markets: currency news — 23-05-2012.

Resistance 3:1363 (May 10-11 highs)

Resistance 2:1348/50 (area of May 14-15 highs)

Resistance 1:1326 (May 22 high)

Current price: 1302,50

Support 1:1288 (area of May 18 and 21 lows)

Support 2:1280 (MA (200) for D1)

Support 3:1242 (area of Dec 28-29 low)

EUR/USD $1.2650, $1.2725, $1.2730, $1.2750

USD/JPY Y78.75, Y79.00, Y79.75, Y79.85, Y80.00

EUR/GBP stg0.8040, stg0.8100

USD/JPY Chf0.9400, Chf0.9300

USD/CAD C$1.0140

Data:

08:00 Eurozone Current account, adjusted, bln March -1.3 3.4 9.1

08:30 United Kingdom Bank of England Minutes -

08:30 United Kingdom Retail Sales (MoM) April +1.8% -0.7% -2.3%

08:30 United Kingdom Retail prices, Y/Y April +3.3% +1.0% -1.1%

09:00 Eurozone Industrial New Orders s.a., m/m March -1.3% -0.1% +1.8%

09:00 Eurozone Industrial New Orders, y/y March -6.1% +2.8%

09:15 United Kingdom MPC Member Bean Speaks -

10:00 United Kingdom CBI industrial order books balance May -8 -9 -17

The euro fell  on speculation a summit of European Union leaders today will provide no new measures to stem the sovereign debt crisis.

The common currency dropped as European Central Bank council member Andres Lipstok said policy makers aren’t planning more stimulus at the moment.

Britain’s pound weakened against the dollar after a report showed U.K. retail sales fell the most in more than two years.

Sales including auto fuel declined 2.3% in April from the previous month, a report showed today. The median forecast of economists was for a 0.7% decline.

EUR/USD: pair showed low in $1,2610 area, then receded.

GBP/USD: the pair showed low below $1,5700. Later the rate restored in $1,5720 area.

USD/JPY: the pair decreased in Y79.30 area.

This is followed at 1400GMT by monthly New-Home Sales data and also the FHFA Home Price Index.

EUR/USD

Offers $1.2745/50, $1.2720/25, $1.2700, $1.2680/85

Bids $1.2600, $1.2580

AUD/USD

Offers $0.9980/85, $0.9960/65, $0.9950

Bids $0.9730/25, $0.9700, $0.9665/60

Resistance 3: Y80.55/60 (area of high of May)
Resistance 2: Y80.10/15 (resistance line from Apr 2, May 22 high)
Resistance 1: Y79.80 (МА (200) for Н1)
Current price: Y79.39
Support 1: Y79.30 (session low)
Support 2: Y79.00 (May 18 low)
Support 3: Y78.55 (МА (200) for D1)

Resistance 3: Chf0.9700 (psychological level)

Resistance 2: Chf0.9600 (area of high of January)

Resistance 1: Chf0.9520 (session high)

Current price: Chf0.9486

Support 1: Chf0.9440 (МА (100) for Н1 and May 21 high)

Support 2: Chf0.9400 (МА (200) for Н1)

Support 3: Chf0.9370 (area of May 21-22 lows)

Resistance 3 : $1.5900 (area of МА (200) for Н1)

Resistance 2 : $1.5840 (area of May 18-22 high)

Resistance 1 : $1.5800 (area of МА (100) for Н1)

Current price: $1.5725

Support 1 : $1.5675 (session low)

Support 2 : $1.5600 (psychological level, low of March)

Support 3 : $1.5520 (support line from May’2010)

Resistance 3 : $1.2770 (МА (200) for Н1)
Resistance 2 : $1.2730 (МА (100) for Н1)
Resistance 1 : $1.2690 (session high)
Current price: $1.2750
Support 1 : $1.2620/90 (area of low of 2012 and low of August’2010)
Support 2 : $1.2500 (psychological level)
Support 3 : $1.2400 (psychological level)

EUR/USD $1.2650, $1.2725, $1.2730, $1.2750

USD/JPY Y78.75, Y79.00, Y79.75, Y79.85, Y80.00

EUR/GBP stg0.8040, stg0.8100

USD/JPY Chf0.9400, Chf0.9300

USD/CAD C$1.0140

00:00 Australia Conference Board Australia Leading Index March 0.0% 0.2%

03:30 Japan BoJ Interest Rate Decision - 0.10% 0.10% 0.10%

03:30 Japan BoJ Monetary Policy Statement -

07:30 Japan BOJ Press Conference

The yen climbed against all of its 16 major peers after the Bank of Japan refrained from adding monetary stimulus that debases the currency. The yen gained for the first time in three days after the central bank left its asset-purchase fund unchanged, as was forecast by all economists in a Bloomberg News survey. Half of the 14 economists in the Bloomberg survey anticipate the BOJ will add stimulus by July, when its price forecasts will indicate any progress in countering decade-long deflation. The central bank expanded its asset-purchase program in February and April.

The Dollar Index touched the highest in 20 months as elections loom in Greece on June 17 that may determine whether the nation stays in the euro currency bloc.  The euro earlier declined by as much as 0.3 percent as European Union leaders prepare to meet today and Greece heads for new elections after an inconclusive vote this month. Dow Jones reported that former Greek Prime Minister Lucas Papademos said while it’s unlikely the nation will leave the euro, it’s still a risk. CNBC quoted Papademos as saying that no preparations for a departure are under way in Greece.

The Australian dollar slid to this year’s low as Asian stocks dropped, sapping demand for higher- yielding currencies.

EUR/USD: during the Asian session the pair traded in a range $1.2640-1.2685.

GBP/USD: during the Asian session the pair traded  in a range $1.5740-1.5770.

USD/JPY: during the Asian session the pair fell to Y79.50.

On Wednesday ECB current account is due, at 0800GMT. UK data provides the focus of the morning, with the latest Bank of  England MPC Minutes and also Retail Sales data both at 0830GMT. The BoE minutes will likely show a split on the MPC. MPC member David Miles voted for stg25 billion extra in quantitative easing in April and things have, arguably, deteriorated since then so he looks sure to have dissented again in May. US data starts at 1100GMT with the weekly MBA mortgage applications data. This is followed at 1400GMT by monthly New-Home Sales data and also the FHFA Home Price Index.

Yesterday the yen weakened the most in a month against the dollar after Fitch Ratings cut Japan’s credit ranking, saying the nation isn’t acting quickly enough to tackle its public debt burden. Fitch lowered Japan’s long-term, foreign-currency ranking to A+ from AA, and cut the local-currency grade to A+ from AA-, the company said in a statement. The outlooks on both are negative, it said. Japan’s currency fell versus all its 16 major peers as the central bank started a two-day meeting amid speculation it will boost stimulus measures to spur flagging growth. Japanese Finance Minister Jun Azumi told reporters the expects the Bank of Japan to take appropriate steps in a timely manner. He said he regards highly the steps taken by the central bank since February. The BOJ expanded its asset-purchase program in February and April.

The euro dropped toward a four-month low against the greenback after the Organization for Economic Cooperation and Development said Europe’s debt crisis risks spiraling. Gross domestic product in the euro region will shrink 0.1 percent this year and expand 0.9 percent in 2013 instead of posting growth of 0.2 percent and 1.4 percent as predicted last November, the Paris-based organization said. German Chancellor Angela Merkel said yesterday she won’t shy away from disagreeing with French President Francois Hollande at the European Union summit beginning tomorrow in Brussels.

The pound snapped a two-day gain versus the dollar as the IMF said more stimulus such as quantitative easing, or QE, was needed to boost the economy. A government report showed inflation slowed in April more than economists forecast.

Resistance 3: Y80.85 (Apr 24 low)

Resistance 2: Y80.55 (May 16 high)

Resistance 1: Y80.15 (May 12 high)

The current price: Y79.59

Support 1: Y79.50 (session low)

Support 2: Y79.00 (May 18-21 low)

Support 3: Y78.70 (Feb 15 high)

Resistance 3: Chf0.9575 (Jan 13-17 high)

Resistance 2: Chf0.9525 (Jan 16 low)

Resistance 1: Chf0.9500 (May 18 high)

The current price: Chf0.9475

Support 1: Chf0.9465 (session low)

Support 2: Chf0.9440 (May 21 high)

Support 3: Chf0.9365/75 (area of May 21-22 low)

Resistance 3 : $1.5885 (May 16 low)

Resistance 2 : $1.5845 (May 22 high)

Resistance 1 : $1.5775 (session high)

The current price: $1.5747

Support 1 : $1.5730 (Mar 18 low)

Support 2 : $1.5695 (Mar 16 low)

Support 3 : $1.5635/45 (area of Mar 14-15 low)

Resistance 3 : $1.2810/25 (area of May 21-22 high)

Resistance 2 : $1.2725 (May 21 low)

Resistance 1 : $1.2685 (session high)

The current price: $1.2669

Support 1 : $1.2640 (Jan 18 low)

Support 2 : $1.2625 (May 21 low)

Support 3 : $1.2585 (Aug 24 low)

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

EUR/USD $1,2679 -1,01%

GBP/USD $1,5763 -0,36%

USD/CHF Chf0,9471 0,9378

USD/JPY Y79,97 +0,84%

EUR/JPY Y101,40 -0,14%

GBP/JPY Y126,04 +0,48%

AUD/USD $0,9793 -1,23%

NZD/USD $0,7542 -1,38%

USD/CAD C$1,0212 +0,16%

00:00 Australia Conference Board Australia Leading Index March 0.0%

03:30 Japan BoJ Interest Rate Decision - 0.10% 0.10%

03:30 Japan BoJ Monetary Policy Statement -

07:30 Japan BOJ Press Conference -

08:00 Eurozone Current account, adjusted, bln March -1.3 3.4

08:30 United Kingdom Bank of England Minutes -

08:30 United Kingdom Retail Sales (MoM) April +1.8% -0.7%

08:30 United Kingdom Retail prices, Y/Y April +3.3% +1.0%

09:00 Eurozone Industrial New Orders s.a., m/m March -1.3% -0.1%

09:00 Eurozone Industrial New Orders, y/y March -6.1%

09:15 United Kingdom MPC Member Bean Speaks -

10:00 United Kingdom CBI industrial order books balance May -8 -9

12:30 Canada Retail Sales, m/m March -0.2% +0.4%

12:30 Canada Retail Sales ex Autos, m/m March +0.5% +0.6%

12:30 Canada Leading Indicators, m/m April +0.4% +0.3%

14:00 U.S. New Home Sales April 328 335

14:00 U.S. Housing Price Index, m/m March +0.3% +0.4%

14:30 U.S. EIA Crude Oil Stocks change - +2.1

18:00 U.S. FOMC Member Narayana Kocherlakota -

22:45 New Zealand Trade Balance April 134 400