Analytics, News, and Forecasts for CFD Markets on the Topic: currency news for: 24 January 2013

19:24

American focus: The euro rose against the dollar

The yen fell for the first time in four days versus the dollar after Deputy Economy Minister Yasutoshi Nishimura said its decline isn’t over and a level of 100 versus the U.S. currency wouldn’t be a concern.

The Japanese currency dropped against all of its 16 most- traded peers after a Chinese report showed manufacturing expanded at the fastest in two years, reducing demand for the yen as a refuge. Japan’s currency fell in early Asian trading after HSBC Holdings Plc and Markit Economics said their preliminary reading of China’s Purchasing Managers’ Index increased to 51.9 in January from 51.5 the previous month. The data suggest China’s expansion at the start of 2013 will equal or exceed its 7.9 percent pace in the fourth quarter.

The euro strengthened against most of its major counterparts after Markit Economics released its survey of purchasing managers in manufacturing and services.

A composite index based on the survey climbed to 48.2 this month from 47.2 in December, the data showed. A reading below 50 indicates contraction.

Asian currencies also fell against the dollar after it was reported that North Korea may begin testing nuclear weapons.

Exchange rate euro strengthened against the dollar after the regional report showed that activity in the private sector continued to decline in January, but at a slower pace than many economists had forecast. According to the data, the composite index of production, which measures activity in the manufacturing sector and the services sector rose this month to 10-month high, reaching 48.2, compared to 47.2 in December, as well as the expectations of experts at around 47, 5. Meanwhile, the index of business activity in the services sector rose to a level of 48.3, up from 47.8 in December, while the index of business activity in the manufacturing sector rose to 47.5 from 46.1 mark.

The pound fell after the published data on the UK showed that the number of approved applications for mortgage loans remained almost unchanged in December, reaching with 33.6 thousand units, while analysts had expected growth to 34.1. Not helped the pound and retail sales data, which growth slowed slightly in January, but was still higher than expected. According to studies, which cover the first two weeks of January 2013, 41% of retailers reported an increase in sales compared to last year, while 24% reported a fall, resulting in retail sales was 17. Note that the average predicted value of this index was to drop to 10, compared to 19 in December.

16:57

USD / JPY has crossed Y90.00, despite the statements of the Bank for International Settlements

The growth of the USD / JPY was caused by a number of representatives of Japan's comments, including the statement that "USD / JPY at Y100 does not cause concern," which brought the price to around Y90 during the New York session.

Also today, there were reports that the head of the Bank for International Settlements Karuna said that aggressive easing taking place in recent years, it becomes counterproductive, and that the Central Bank is under too much pressure from governments that want to first stimulate growth and impaired the currency.

Currently the pair is trading in Y90.00/05, 1.6% higher than the opening price.

16:00

U.S.: Crude Oil Inventories, +2.8

15:53

EUR / USD: Euro updated intraday high of $ 1.3378

After a period of hesitation euro resumed its rise against the dollar, having tested highs this week, despite the overall increase in USD.

EUR / USD was able to break through $ 1.3350 and reach a 4-day high of $ 1.3378, breaking the $ 1.3371, a maximum of 22 January.

Currently the pair is trading around $ 1.3370/80, up 0.4% above its opening price.

15:00

U.S.: Leading Indicators , December +0.5% (forecast +0.4%)

14:00

U.S.: Manufacturing PMI, January 56.1 (forecast 53.2)

14:00

Бельгия: Индекс настроений в деловых кругах, Январь -13.2 (прогноз -10.9)

13:45

Option expiries for today's 1400GMT cut

EUR/USD $1.3250, $1.3300, $1.3350, $1.3385, $1.3400

USD/JPY Y88.50, Y89.00, Y90.00

GBP/USD $1.6025

USD/CHF Chf0.9225, Chf0.9340

AUD/USD $1.0500, $1.055

13:30

U.S.: Initial Jobless Claims, 330 (forecast 361)

13:15

European session: The yen fell sharply

Data

01:45 China HSBC Manufacturing PMI (preliminary) January 51.5 51.9

08:00 France Manufacturing PMI (preliminary) January 44.6 44.9 42.9

08:00 France Services PMI (preliminary) January 45.2 45.6 43.6

08:30 Germany Manufacturing PMI (preliminary) January 46.0 47.1 48.8

08:30 Germany Services PMI (preliminary) January 52.0 52.0 55.3

09:00 Eurozone Manufacturing PMI (preliminary) January 46.1 46.6 47.5

09:00 Eurozone Services PMI (preliminary) January 47.8 48.1 48.3

09:00 Eurozone Current account, adjusted, bln November 8.0 4.2 14.8

09:00 Switzerland World Economic Forum Annual Meetings -

09:30 United Kingdom BBA Mortgage Approvals December 33.6 34.1 33.6

11:00 United Kingdom CBI retail sales volume balance January 19 14 17

The yen fell for the first time in four days against the dollar after the Deputy Minister of Economy of Japan Nishimura said that the currency collapse is not over, and the level of 100 yen to the U.S. dollar will not be a problem.

The yen fell by at least 0.5 percent against all 16 major currencies, as the Chinese report showed that manufacturing PMI rose in January while still achieving the highest value in the last two years, which immediately led to a fall in demand on the Japanese currency. HSBC Holdings Plc and Markit Economics said its preliminary index of purchasing managers in China increased to 51.9 in January, compared with 51.5 in the previous month. Note that the findings suggest that the growth of China's economy in early 2013 will be equal to or greater than the growth of 7.9% recorded in the fourth quarter.

Asian currencies also fell against the dollar after it was reported that North Korea may begin testing nuclear weapons.

Exchange rate euro strengthened against the dollar after the regional report showed that activity in the private sector continued to decline in January, but at a slower pace than many economists had forecast. According to the data, the composite index of production, which measures activity in the manufacturing sector and the services sector rose this month to 10-month high, reaching 48.2, compared to 47.2 in December, as well as the expectations of experts at around 47, 5. Meanwhile, the index of business activity in the services sector rose to a level of 48.3, up from 47.8 in December, while the index of business activity in the manufacturing sector rose to 47.5 from 46.1 mark.

The pound fell after the published data on the UK showed that the number of approved applications for mortgage loans remained almost unchanged in December, reaching with 33.6 thousand units, while analysts had expected growth to 34.1. Not helped the pound and retail sales data, which growth slowed slightly in January, but was still higher than expected. According to studies, which cover the first two weeks of January 2013, 41% of retailers reported an increase in sales compared to last year, while 24% reported a fall, resulting in retail sales was 17. Note that the average predicted value of this index was to drop to 10, compared to 19 in December.

EUR / USD: during the European session varies in the range of $ 1.3284-$ 1.3347

GBP / USD: during the European session is reduced, and is now trading at $ 1.5803

USD / JPY: during the European session, the pair rose to Y89.71

At 13:30 GMT the United States, there are data on the number of initial claims for unemployment insurance and the number of repeat applications for unemployment benefits in January. At 14:00 GMT Belgium presented index business sentiment for January. At 23:30 GMT Japan will publish the index of consumer prices in the country and in Tokyo in January. At 23:50 GMT Japan released minutes of the meeting of the Bank of Japan on monetary policy in January and preliminary data on industrial production in December.

13:00

Orders

EUR/USD

Orders $1.3395/405, $1.3380, $1.3350/55

Bids $1.3285/80, $1.3265/60, $1.3250, $1.3230/20

GBP/USD

Orders $1.5980, $1.5950, $1.5900/10, $1.5870/75

Bids $1.5800, $1.5780/70, $1.5755/45

AUD/USD

Orders $1.0590, $1.0560/70, $1.0540

Bids $1.0490/80, $1.0475/70, $1.0455/50, $1.0410/00

EUR/JPY

Orders Y121.00, Y120.50, Y120.00

Bids Y118.65/60, Y118.50, Y118.30/20, Y118.00, Y117.70/50

USD/JPY

Orders Y90.55/60, Y90.50, Y90.40, Y89.70/80

Bids Y89.10/00, Y88.90/80, Y88.50, Y88.00

EUR/GBP

Orders stg0.8500, stg0.8450, stg0.8440, stg0.8430

Bids stg0.8385/75, stg0.8355/50, stg0.8300, stg0.8260

11:15

European stocks rise

Positive impact on the markets has a positive economic data from China, according to which the preliminary value of the index of industrial purchasing managers of the country, calculated HSBC, was in January of 51.9 points against 51.5 in December and 50.5 points in November.

Along with these encouraging data on the index of business activity in the euro area. The composite index of production, which measures activity in the manufacturing sector and the services sector rose this month to 10-month high, reaching 48.2, compared to 47.2 in December, as well as the expectations of experts at around 47.5. The index of business activity in the services sector rose to a level of 48.3, up from 47.8 in December, while the index of business activity in the manufacturing sector rose to 47.5 from 46.1 mark.

FTSE 100 6,219.54 +21.90 +0.35%

DAX 7,709.33 +1.79 +0.02%

CAC 3,734.67 +10.10 +0.23%

Shares of ARM Holdings Plc, producing microchips for Apple Inc., Fell 1.4%.

The market value of the manufacturer Logitech International SA, produces computer hardware and the world's largest producer of "mouse", fell by 9.2% on news that the company received a loss of $ 195 million at the end of the last quarter.

At the same time, the market capitalization of the budget airline EasyJet Plc rose by 3.7% due to higher sales in October-December.

11:00