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Analytics, News, and Forecasts for CFD Markets: currency news — 24-05-2012.
The euro fluctuated against the dollar after touching the weakest level since July 2010 as German manufacturing data dropped and traders speculated measures may be taken to relieve the bloc’s debt crisis. A German index based on a survey of purchasing managers in the manufacturing industry declined to 45 this month from 46.2 in April, Markit Economics said today.
The Swiss franc weakened to its lowest level in two months against the euro amid speculation the central bank may take action to discourage investment in the nation through taxing deposits.
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 $1.2525, $1.2550, $1.2600, $1.2625, $1.2700
USD/JPY Y79.40, Y79.50, Y80.00
GBP/USD $1.5750, $1.5840
EUR/GBP stg0.8050
AUD/USD $0.9750, $0.9800
Gold $1550
Data:
06:00 Switzerland Trade Balance April 1.69 1.95 1.33
06:00 Germany GDP (QoQ) (finally) Quarter I -0.2% +0.5% +0.5%
06:00 Germany GDP (wda) (YoY) (finally) Quarter I +1.5% +1.7% +1.2%
07:00 France Manufacturing PMI (preliminary) May 46.9 47.1 44.4
07:00 France Services PMI (preliminary) May 45.2 45.8 45.2
07:30 Germany Manufacturing PMI (preliminary) May 46.2 47.1 45.0
07:30 Germany Services PMI (preliminary) March 52.2 51.9 52.2
08:00 Germany IFO - Business Climate May 109.9 109.5 106.9
08:00 Germany IFO - Current Assessment May 117.5 117.1 113.3
08:00 Germany IFO - Expectations May 102.7 102.0 100.9
08:00 Eurozone Manufacturing PMI (preliminary) May 45.9 46.1 45.0
08:00 Eurozone Services PMI (preliminary) May 46.9 47.0 46.5
08:30 United Kingdom GDP, q/q (revised) Quarter I -0.3% -0.2% -0.3%
08:30 United Kingdom GDP, y/y (revised) Quarter I +0.5% 0.0% -0.1%
08:30 United Kingdom BBA Mortgage Approvals April 31.9 32.3 32.4
08:30 United Kingdom Business Investment, q/q Quarter I -3.3% +3.3% +3.6%
08:30 United Kingdom Business Investment, y/y Quarter I +1.6% +9.2% +14.2%
The euro fell as German business confidence slid and manufacturing shrank, stoking concern fallout from the debt crisis is spreading.
Europe’s currency dropped as European leaders clashed over joint bond sales at a summit and offered no immediate relief for recession-wracked Spain.
A German index based on a survey of purchasing managers in the manufacturing industry declined to 45 this month from 46.2 in April, Markit Economics said today. Economists forecast a reading of 47. The Munich- based Ifo institute said its German business climate index dropped to 106.9 in May from 109.9 a month earlier. Economists predicted 109.4.
EUR/USD: the pair was limited of $1,2515-$ 1,2600.
GBP/USD: the pair showed low in $1,5640 area. Later the rate restored in $1,5680 area.
USD/JPY: the pair was limited Y79.30-Y79.60.
AUD/USD
Offers $0.9920/25, $0.9895/00, $0.9865/70, $0.9840/50, $0.9825/30, $0.9800
Bids $0.9755/50, $0.9715/10, $0.9690/85, $0.9665/60, $0.9650
USD/JPY
Offers Y80.35/40, Y80.10/15, Y80.00, Y79.75/80, Y79.60/65
Bids Y79.25/20, Y78.80, Y78.60/50
EUR/JPY
Offers Y101.50, Y101.25/30, Y101.00, Y100.80/85, Y100.45/50, Y99.90/00
Bids Y99.55/50, Y99.00, Y98.50, Y98.00, Y97.70/65
EUR/GBP
Offers stg0.8160/65, stg0.8140/50, stg0.8120, stg0.8100
Bids stg0.7985/80, stg0.7965/60, stg0.79500
Resistance 3: Y80.10/15 (resistance line from Apr 2, May 22 high)
Resistance 2: Y79.70 (МА (200) for Н1)
Resistance 1: Y79.60 (session high)
Current price: Y79.39
Support 1: Y79.20 (May 23 low)
Support 2: Y79.00 (May 18 low)
Support 3: Y78.55 (МА (200) for D1)
Resistance 3: Chf0.9780 (high of 2011)
Resistance 2: Chf0.9700 (psychological level)
Resistance 1: Chf0.9600 (area of session high and high of January)
Current price: Chf0.9549
Support 1: Chf0.9530 (session low)
Support 2: Chf0.9460 (МА (100) for Н1 and May 22 low)
Support 3: Chf0.9430 (МА (200) for Н1)
Resistance 3 : $1.5860 (area МА (200) for Н1)
Resistance 2 : $1.5840 (area of May 18-22 high)
Resistance 1 : $1.5770 (МА (100) for Н1)
Current price: $1.5689
Support 1 : $1.5640 (session low)
Support 2 : $1.5600 (psychological level, low of March)
Support 3 : $1.5520 (support line from May’2010)
Resistance 3 : $1.2730 (МА (200) for Н1, May 21 low)
Resistance 2 : $1.2690 (May 22 high)
Resistance 1 : $1.2600 (session high)
Current price: $1.2576
Support 1 : $1.2510/00 (area of session low)
Support 2 : $1.2400 (psychological level)
Support 3 : $1.2300 (psychological level)
EUR/USD $1.2525, $1.2550, $1.2600, $1.2625, $1.2700
USD/JPY Y79.40, Y79.50, Y80.00
GBP/USD $1.5750, $1.5840
EUR/GBP stg0.8050
AUD/USD $0.9750, $0.9800
Gold $1550
Yesterday the euro fell to its weakest level against the dollar since July 2010 on speculation a summit of European Union leaders will provide no new measures to stem the sovereign-debt crisis. The shared currency extended losses after dropping below 100 yen for the first time since February and weakening to less than $1.26, price levels where traders who follow technical analysis said sell orders were clustered. Financial turmoil in the euro bloc will come up at tonight’s meeting in Brussels only “at the very end,” European Council President Herman Van Rompuy said in a letter before a gathering of EU officials.
The yen climbed at least 0.7 percent versus all its major peers after the Bank of Japan left its asset-purchase fund unchanged. The yen snapped a two-day drop against the dollar after slipping earlier this week on bets the central bank would decide to boost stimulus at its policy meeting. The BOJ kept its asset-purchase fund at 40 trillion yen, after expanding it by 10 trillion yen last month. The central bank also left a credit-lending program at 30 trillion yen, it said in a statement in Tokyo. The policy board kept the key overnight lending rate between zero and 0.1 percent.
EUR/USD: yesterday the pair fell to a figure, lowered below $1.2600.
GBP/USD: yesterday the pair fell below $1.5700.
USD/JPY: yesterday the pair fell to week’s low Y79.20.
European data for Thursday starts at 0600GMT with the details of German Q1 GDP data, while at the same time, the German finance ministry releases its monthly fiscal and economic report. France sees sentiment data at 0645GMT, while this morning also sees the release of the flash manufacturing and services PMIs for May, starting with France at 0658GMT, where forecasts are for readings close to unchanged with 47.0 for manufacturing and 45.7 for services. Germany releases at 0728GMT with expectations of mixed results, a slightly higher 47.0 for manufacturing and slightly lower 52.0 for services. At 0758GMT the EMU release is expected to see 45.9 for manufacturing, 46.5 for services and 46.6 for the composite number. The Germany Ifo data is due at 0800GMT and is broadly expected to slip slightly lower with the business climate index at 109.2, the current assessment at 117.0 and the expectations index at 101.8. UK data at 0830GMT includes Services Output data and also the second stimate of Q1 GDP data along with Q1 Business Investment. US data starts at 1200GMT with Building Permits data and is followed at 1230GMT by weekly jobless claims and Durable Goods Orders. This is followed at 1258GMT by US
flash PMI.
Resistance 3: Y80.55 (May 16 high)
Resistance 2: Y80.15 (May 12 high)
Resistance 1: Y79.55 (session high)
The current price: Y79.47
Support 1: Y79.20 (May 23 low)
Support 2: Y79.00 (May 18-21 low)
Support 3: Y78.70 (Feb 15 high)
Resistance 3: Chf0.9640 (161.8% FIBO Chf0.9465-Chf0.9575)
Resistance 2: Chf0.9595 (Jan 9 high)
Resistance 1: Chf0.9575 (May 23 high)
The current price: Chf0.9550
Support 1: Chf0.9520/25 (high of the European session and low of the American session on May 23)
Support 2: Chf0.9465 (May 23 low)
Support 3: Chf0.9440 (May 21 high)
Resistance 3 : $1.5850 (May 22 high)
Resistance 2 : $1.5775 (May 23 high)
Resistance 1 : $1.5740 (high of the American session on May 23)
The current price: $1.5678
Support 1 : $1.5675 (session low)
Support 2 : $1.5635/45 (area of Mar 14-15 low)
Support 3 : $1.5600 (psychological level)
Resistance 3 : $1.2725 (May 21 low)
Resistance 2 : $1.2685 (May 23 high)
Resistance 1 : $1.2605/15 (low of the European session, high of the American session on May 23)
The current price: $1.2575
Support 1 : $1.2545 (May 23 low)
Support 2 : $1.2500 (psychological level)
Support 3 : $1.2455 (161.8% FIBO $1.2690-$1.2545)
(pare/closed(00:00 GMT +02:00)/change, %)
EUR/USD $1,2586 -0,74%
GBP/USD $1,5690 -0,47%
USD/CHF Chf0,9540 +0,72%
USD/JPY Y79,45 -0,65%
EUR/JPY Y100,00 -1,40%
GBP/JPY Y124,64 -1,12%
AUD/USD $0,9753 -0,41%
NZD/USD $0,7514 -0,37%
USD/CAD C$1,0244 +0,31%
02:00 New Zealand Annual Budget Release -
02:30 China HSBC Manufacturing PMI (preliminary) May 49.3
05:00 Japan BoJ monthly economic report May
06:00 Switzerland Trade Balance April 1.69 1.95
06:00 Germany GDP (QoQ) (finally) Quarter I -0.2% +0.5%
06:00 Germany GDP (wda) (YoY) (finally) Quarter I +1.5% +1.7%
07:00 France Manufacturing PMI (preliminary) May 46.9 47.1
07:00 France Services PMI (preliminary) May 45.2 45.8
07:30 Germany Manufacturing PMI (preliminary) May 46.2 47.1
07:30 Germany Services PMI (preliminary) March 52.2 51.9
08:00 Germany IFO - Business Climate May 109.9 109.5
08:00 Germany IFO - Current Assessment May 117.5 117.1
08:00 Germany IFO - Expectations May 102.7 102.0
08:00 Eurozone Manufacturing PMI (preliminary) May 45.9 46.1
08:00 Eurozone Services PMI (preliminary) May 46.9 47.0
08:30 United Kingdom GDP, q/q I -0.3% -0.2%
08:30 United Kingdom GDP, y/y (revised) Quarter I +0.5% 0.0%
08:30 United Kingdom BBA Mortgage Approvals April 31.9 32.3
08:30 United Kingdom Business Investment, q/q Quarter I -3.3% +3.3%
08:30 United Kingdom Business Investment, y/y Quarter I +1.6% +9.2%
11:15 United Kingdom MPC Member Miles Speaks -
12:30 U.S. Initial Jobless Claims - 370 374
12:30 U.S. Durable Goods Orders April -4.2% +0.5%
12:30 U.S. Durable Goods Orders ex Transportation April -1.1% +1.2%
12:30 U.S. Durable goods orders ex defense April -0.8% -+0.5%
13:00 Belgium Business Climate May -10.7 -9.6
13:00 Eurozone ECB President Mario Draghi Speaks -
14:30 U.S. FOMC Member Dudley Speak -
19:00 U.S. Treasury Sec Geithner Speaks -
23:30 Japan National Consumer Price Index, y/y April +0.5% +0.4%
23:30 Japan National CPI Ex-Fresh Food, y/y April +0.2% +0.1%
23:30 Japan Tokyo Consumer Price Index, y/y May -0.3% -0.3%
23:30 Japan Tokyo CPI ex Fresh Food, y/y May -1.0% -1.0%
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