- Analytics
- News and Tools
- Market News
Analytics, News, and Forecasts for CFD Markets: currency news — 24-10-2012.
The euro fell against most major currencies, reaching with respect to the dollar the lowest level in more than a week, after data showed that business activity in the services sector and manufacturing declined in October, more than economists forecast.
The single currency fell against the yen against the fact that the data from Germany showed that German business confidence fell to its lowest level since February 2010.
The euro recovered some losses incurred before, after reports of talks between Greece and international officials on financial aid.
At the same time, market participants are waiting for the accompanying statement by the Committee on the Federal Open Market, which puts pressure on the euro.
It is learned that officials of the European Union, the European Central Bank and the International Monetary Fund rejected the German proposal to tighten Greek access to care. ECB President Mario Draghi said that the so-called "troika" has not made any proposals for Greece. The officials discussed the agreement, which would pave the way for the next payment to the affected countries.
The dollar index (DXY) fluctuated after a report showed that sales of new U.S. homes rose to two-year high in September. Sales climbed 5.7% to 389,000 year on year, after a revised 368,000 in August.
The Australian dollar rose against all 16 most-traded currencies after a report that showed that the PMI index for the manufacturing in China rose in October to the three-month high, reaching the mark with 49.1, compared with 47.9 in September. At the same time, data from Australia showed that consumer prices in Australia increased in the third quarter by 2.0% in annual terms. This value significantly exceeded analysts who had expected annual growth of 1.6% after increasing 1.2% in the second quarter.
The pound rose to a three-month high against the euro on optimism that the UK economy emerged from recession in the third quarter, which led to increased demand for British assets. UK currency rose against all but two of its 16 major counterparts, even after a report showed that the balance of industrial orders fell unexpectedly in October.
The Canadian dollar fell after the governor of the Bank of Canada Carney said that the need to raise interest rates was "less inevitable," after rising in the case of tighter monetary policy.
Moderate consumption growth reflects the large debt burden for some
The uncertainty in the world impedes investment
Equity-high
Closely watching the housing sector
Monetary policy - the last line of defense in the housing sector
The number of housing starts is still higher than the demographic demand
The data indicate a slightly greater vulnerability of the household sector
There are conflicting signals about imbalances in the household sector
U.S. unlikely to avoid a fiscal cliff
Inflation expectations in Canada reserved
Canada's GDP will grow by 2.2% in 2012
There are upside and downside risks to the household sector
Consumption and investment - the main engine of economic growth
Moderate consumption growth reflects the large debt burden for some
The uncertainty in the world impedes investment
Equity-high
Closely watching the housing sector
Monetary policy - the last line of defense in the housing sector
The number of housing starts is still higher than the demographic demand
The data indicate a slightly greater vulnerability of the household sector
There are conflicting signals about imbalances in the household sector
U.S. unlikely to avoid a fiscal cliff
Inflation expectations in Canada reserved
Canada's GDP will grow by 2.2% in 2012
There are upside and downside risks to the household sector
Consumption and investment - the main engine of economic growth
--Of transmission mechanism repaired, doesn't imply rate move follows
--See no inflation or deflation danger short to medium-term
--Eurozone's inflation expectations remain well anchored
EUR/USD $1.2915, $1.3000, $1.3010
GBP/USD $1.6000
AUD/USD $1.0215, $1.0235, $1.0250, $1.0285, $1.0300, $1.0350
USD/JPY Y79.00, Y79.65, Y80.00
EUR/GBP stg0.8155, stg0.8160
NZD/USD Nz$1.2600
USD/CAD Cad1.000
USD/CHF Chf0.9350
--ECB's OMT will not lead to inflation
--Inflation expectations remain firmly anchored
--EMU economy to remain weak in near term
--Expect very gradual emu recovery in 2013
--EMU unemployment remains deplorably high
--ECB's OMT will not lead to disguised financing of govts
--ECB to intervene only in countries on sustainable path
--ECB will rountinely suspend omts during prog reviews
--OMT will not create excessive risks for taxpayers
--OMT interventions to be decided in full independence
--OMT conditionality protects ecb independence
--ECB acted to counter 'unfounded fears' about emu future
--EMU moving in right directn, importnt to stay on course
Data
07:00 France Manufacturing PMI (preliminary) October 42.7 43.7 43.5
07:00 France Services PMI (preliminary) October 45.0 45.6 46.2
07:30 Germany Manufacturing PMI (preliminary) October 47.4 48.1 45.7
07:30 Germany Services PMI (preliminary) October 49.7 50.1 49.3
08:00 Germany IFO - Business Climate October 101.4 101.7 100.0
08:00 Germany IFO - Current Assessment October 110.3 110.0 107.3
08:00 Germany IFO - Expectations October 93.2 93.7 93.2
08:00 Eurozone Manufacturing PMI (preliminary) October 46.1 46.6 45.3
08:00 Eurozone Services PMI (preliminary) October 46.1 46.5 46.2
10:00 United Kingdom CBI industrial order books balance October -8 -6 -23
11:45 Eurozone ECB President Mario Draghi Speaks -
The euro weakened for a second day against the dollar and yen after reports showed services and manufacturing in the region shrank in October more than economists predicted as the debt crisis stifled growth.
A composite index based on a survey of purchasing managers in manufacturing and services industries in the euro area fell to 45.8 from 46.1 in September, London-based Markit Economics said. Economists forecast an increase to 46.5. A number below 50 indicates contraction.
The 17-nation currency fell versus all except two of its 16 major counterparts as the Ifo institute in Munich said German business confidence dropped to the lowest level in more than two years.
The Ifo institute said its German business climate index dropped to 100 this month, the lowest since February 2010, from 101.4 in September.
The Dollar Index climbed to the highest in almost two weeks before Federal Reserve officials end a two-day policy meeting.
Fed Chairman Ben S. Bernanke and his colleagues on the Federal Open Market Committee will conclude a two-day meeting in Washington today and release a statement on policy, including their current plan to buy $40 billion in mortgage-backed securities each month for an indefinite period as they seek to nurse the economic recovery.
The Australian dollar advanced after an industry report signaled a slowdown in Chinese manufacturing was abating, and as a local data showed consumer prices rose more than economists forecast last quarter.
HSBC Holdings Plc and Markit Economics said a preliminary reading of a purchasing managers’ index for China climbed to 49.1 in October from 47.9 last month. China is Australia’s biggest trading partner.
EUR / USD: during the European session, the pair rose $ 1.2996 and then fell to $ 1.29257
GBP / USD: during the European session, the pair rose to a new high of $ 1.6021
USD / JPY: during the European session the pair fell to Y79.68
U.S. 13:00 GMT publish an index of business activity in the manufacturing sector in October, at 14:00 GMT - the volume of home sales in the primary market in September, at 14:30 GMT - data on stocks of crude oil from the Department of Energy. At 14:30 GMT will publish the report of the Bank of Canada's monetary policy. At 15:15 GMT will hold a press conference of the Bank of Canada. At 18:15 GMT FOMC decision will be published on the basic interest rate and the accompanying statement will be made FOMC. At 20:00 GMT we will know the decision of the Reserve Bank of New Zealand Interest Rate will be done the accompanying statement of the Reserve Bank of New Zealand.
EUR/USD
Offers $1.3050, $1.3035/40, $1.3020/25, $1.3000, $1.2965/70
Bids $1.2920, $1.2900, $1.2875/70, $1.2850
AUD/USD
Offers $1.0400, $1.0380/85, $1.0350
Bids $1.0250, $1.0220, $1.0200
GBP/USD
Offers $1.6050, $1.6040
Bids $1.5950/45, $1.5910, $1.5905/00
EUR/JPY
Offers Y104.50, Y104.20, Y103.95/00, Y103.55/60
Bids Y102.60, Y102.50, Y102.20, Y102.00
USD/JPY
Offers Y80.50, Y80.30/35, Y80.00
Bids Y79.50, Y79.30, Y79.20
EUR/GBP
Offers stg0.8250, stg0.8200, stg0.8180, stg0.8125/30
Bids stg0.8080, stg0.8070, stg0.8050, stg0.8000
Germany alloted E3.329bln of 10-year benchmark 1.50% Sep 2022 Bund issue Wednesday at an average yield of 1.56% (1.52%) and bid-to-cover ratio of 1.5 times (1.2).
EUR/USD $1.2915, $1.3000, $1.3010
GBP/USD $1.6000
AUD/USD $1.0215, $1.0235, $1.0250, $1.0285, $1.0300, $1.0350
USD/JPY Y79.00, Y79.65, Y80.00
EUR/GBP stg0.8155, stg0.8160
NZD/USD Nz$1.2600
USD/CAD Cad1.000
USD/CHF Chf0.9350
Yesterday the dollar and yen rose against most major currencies, as the company reports submitted showed that the financial results were below analysts' estimates, adding evidence that the global economy is slowing down, which undermines risk appetite.
Higher-yielding currencies, including the New Zealand dollar weakened as global equities and commodity prices fell.
The Canadian dollar was up against the fact that the central bank said that some stimulation is likely to be necessary. Also significantly increased the likelihood of higher interest rates.
The euro fell to a five-month high against the yen after the level of French industrial confidence fell to its lowest level since 2009.
The dollar index (DXY) rose 0.4% to 79.978 after the Richmond Fed manufacturing index for October fell to be expected.
The European currency fell after earlier Investors Service Moody 's downgraded the credit ratings of five Spanish regions. A week ago, Moody's confirmed the rating of Spain at Baa3, which is the lowest investment grade.
The pound rose to a four-month low against the euro after a report showed that the number of mortgage loans in the Revitalize the UK rose last month to the highest level since April. According to a report from the British Bankers Association index rose in September to 31,175 from 30,683 in August.
00:30 Australia CPI, q/q Quarter III +0.5% +0.5% +1,4%
00:30 Australia CPI, y/y Quarter III +1.2% +1.6% +2.0%
01:45 China HSBC Flash Manufacturing PMI (preliminary) October 47.9 49.1
The euro maintained losses against most of its major peers before data that may add to evidence Europe’s debt turmoil is weighing on economic growth. Reports today are forecast to show manufacturing and services industries in the euro area contracted for a ninth month and German business confidence hovered close to the lowest since February 2010. A composite index based on a survey of purchasing managers in manufacturing and services industries in the euro area was probably at 46.5 in October, below the 50 level which indicates a contraction, according to the median estimate of economists surveyed by Bloomberg News. While that’s up from 46.1 in September, it follows eight consecutive months of contraction.
The 17-nation currency traded near a one-week low against the U.S. dollar amid investor uncertainty that Spain will seek a bailout. Spanish Prime Minister Mariano Rajoy said in the senate yesterday there is a case for easing budget-deficit targets set by the European Union as the recession undermines tax revenue. Rajoy didn’t mention seeking aid even as he praised the European Central Bank’s offer to help lower troubled countries’ borrowing costs. Spain’s 10-year bond yield yesterday jumped 13 basis points to 5.62 percent yesterday.
The Australian and New Zealand dollars advanced after HSBC Holdings Plc and Markit Economics said a preliminary reading of a purchasing managers’ index for China rose to 49.1 in October from 47.9 last month. China is Australia’s biggest trading partner and New Zealand’s second-largest export market. Demand for Australia’s currency was also supported after data showed the nation’s consumer prices accelerated more than estimated in the third quarter, giving the Reserve Bank scope to pause next month in cutting interest rates.
EUR / USD: during the Asian session, the pair traded in the range of $1.2970-90.
GBP / USD: during the Asian session, the pair traded in the range of $1.5935-55.
USD / JPY: during the Asian session, the pair traded in the range of Y79.75-95.
There is a fairly robust calendar Wednesday, with a blend of data and official speakers. At 0658GMT, we see the release of French October flash manufacturing and services PMI, followed by the same data for Germany at 0728GMT. EMU October flash manufacturing and services PMI is also due at 0758GMT. At 0800GMT, the German Chamber of Industry and Commerce (DIHK) releases its autumn business survey in Berlin. Release of the October IFO business sentiment survey at 0800GMT will be closely watched for any further signs that the German economy is pulling itself back from the brink of a serious economic contraction, which had been feared following the release of Q2 GDP. Italy October consumer confidence survey (sa) is also due to be released at 0800GMT. At 0900GMT we see the EMU 2Q government debt report. UK data is scheduled for release at 1000GMT and sees the release of the Confederation of British Industry's monthly Industrial Trends survey of the manufacturing sector.
(pare/closed(00:00 GMT +02:00)/change, %)
EUR/USD $1,2984 -0,62%
GBP/USD $1,5950 -0,38%
USD/CHF Chf0,9325 +0,64%
USD/JPY Y79,85 -0,09%
EUR/JPY Y103,70 -0,69%
GBP/JPY Y127,37 -0,46%
AUD/USD $1,0265 -0,61%
NZD/USD $0,8118 -0,76%
USD/CAD C$0,9922 +0,01%
00:30 Australia CPI, q/q Quarter III +0.5% +0.5% +1,4%
00:30 Australia CPI, y/y Quarter III +1.2% +1.6% +2.0%
01:45 China 49.1 (preliminary) October 47.9
07:00 France Manufacturing PMI (preliminary) October 42.7 43.7
07:00 France Services PMI (preliminary) October 45.0 45.6
07:30 Germany Manufacturing PMI (preliminary) October 47.4 48.1
07:30 Germany Services PMI (preliminary) October 49.7 50.1
08:00 Germany IFO - Business Climate October 101.4 101.7
08:00 Germany IFO - Current Assessment October 110.3 110.0
08:00 Germany IFO - Expectations October 93.2 93.7
08:00 Eurozone Manufacturing PMI (preliminary) October 46.1 46.6
08:00 Eurozone Services PMI (preliminary) October 46.1 46.5
10:00 United Kingdom CBI industrial order books balance October -8 -6
11:45 Eurozone ECB President Mario Draghi Speaks -
13:00 U.S. Manufacturing PMI (preliminary) October 51.1 51.6
14:00 Eurozone ECB President Mario Draghi Speaks -
14:00 U.S. New Home Sales September 373 386
14:30 U.S. Crude Oil Inventories - +2.9
14:30 Canada Bank of Canada Monetary Policy Report IV quarter
15:15 Canada BOC Press Conference -
18:15 U.S. Fed Interest Rate Decision - 0.25% 0.25%
18:15 U.S. FOMC Statement -
20:00 New Zealand RBNZ Interest Rate Decision - 2.50% 2.50%
20:00 New Zealand RBNZ Rate Statement -
23:50 Japan CSPI, y/y September -0.3% -0.4%
© 2000-2025. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
