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Analytics, News, and Forecasts for CFD Markets: currency news — 25-05-2012.
The euro touched its lowest level since July 2010 against the dollar amid concern Spain’s regional governments may lose access to capital markets. The shared currency erased earlier gains against the dollar and yen after Catalan President Artur Mas repeated his call for Spanish central government to help regions access funding and remained lower after Standard & Poor’s cut the credit ratings of five Spanish banks.
Catalonia is complying “strictly” with its budget program and will honor its commitments, according to a statement. Spain’s government is analyzing “with all caution” requests from regional governments to help them regain access to capital markets, Deputy Prime Minister Soraya Saenz de Santamaria said.
Spanish 10-year yields rose 15 basis points, or 0.15 percentage point, to 6.31 percent. They touched 6.51 percent on May 16, the highest since November.
The Dollar Index, which IntercontinentalExchange Inc. uses to track the greenback against the currencies of six U.S. trading partners, was little changed at 82.352, after climbing as high as 82.461, the most since September 2010.
Analysts at Moody's Investor Service downgraded the three largest banks in the Nordic region, citing the high level of competition in retail lending, as well as the spread of the crisis in the eurozone. However, it should be noted that the downgrade was small compared with the Spanish and Italian representatives of the industry, which confirms the high position of the creditors of Scandinavian competitors.
Thus, analysts Moody's lowered the credit and deposit ratings of Swedish banks Nordea and Handelsbanken by one notch to Aa3, while the Norwegian lender DNB rating was lowered one level as before the A1/C-.
EUR/USD $1.2500, $1.2550, $1.2600, $1.2630, $1.2635, $1.2500
USD/JPY Y79.25, Y80.00
EUR/JPY Y100.00, Y100.50
GBP/USD $1.5685, $1.5700, $1.5800
EUR/GBP stg0.8000, stg0.8050
AUD/USD $0.9800
The euro retreated from a 22-month low against the dollar after Italian Prime Minister Mario Monti said Greece will probably stay in the euro, and Germany can be persuaded to support Europe’s “common good.”
But the 17-nation common currency fell again after reports commentsz from Spain Catalonia region that they are in need of govt help as running out of debt financing options.
Euro-area finance ministers and leaders don’t plan to meet again until after the Greek election next month, which may determine the fate of the currency bloc. The June ballot was called after a May 6 vote left no party able to form a government, with voters sending the anti-bailout Syriza party into second place.
EUR/USD: the pair showed high in $1,2600 area then returned to area of session low $1,2500.
GBP/USD: the pair was limited $1,5640-$ 1,5700.
USD/JPY: the pair receded in Y79.50 area.
EUR/USD
Offers $1.2650, $1.2605/10
Bids $1.2515/00, $1.2485/80, $1.2450
GBP/USD
Offers $1.5800, $1.5770, $1.5740/50, $1.5695/710
Bids $1.5610/00, $1.5580, $1.5550
AUD/USD
Offers $0.9920/25, $0.9895/00, $0.9865/70, $0.9840/50, $0.9825/30, $0.9800
Bids $0.9765/60, $0.9735/30, $0.9715/10, $0.9700, $0.9690/85, $0.9665/60
USD/JPY
Offers Y80.35/40, Y80.10/15, Y80.00, Y79.80/85, Y79.70/75
Bids Y79.35/30, Y79.25/20, Y79.00, Y78.80
EUR/JPY
Ордера на продажу Y101.50, Y101.25/30, Y101.00, Y100.80/85, Y100.45/50
Ордера на покупку Y99.80/70, Y99.55/50, Y99.00, Y98.50
Resistance 3: Y80.55 (May 16 high)
Resistance 2: Y80.15 (May 22 high)
Resistance 1: Y79.90 (resistance line from Apr 2)
Current price: Y79.52
Support 1: Y79.20 (May 23)
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: Chf0.9550
Support 1: Chf0.9530 (session low, May 24 low)
Support 2: Chf0.9490 (МА (100) for Н1)
Support 3: Chf0.9460 (МА (200) for Н1 and May 22 low)
Resistance 3 : $1.5840 (area of May 18-22 high)
Resistance 2 : $1.5810 (МА (200) for Н1)
Resistance 1 : $1.5730 (МА (100) for Н1, May 24 high)
Current price: $1.5670
Support 1 : $1.5640 (area of session low and May 24 low)
Support 2 : $1.5600 (psychological level, low of March)
Support 3 : $1.5520 (line of support from May’2010)
Resistance 3 : $1.2690 (May 23 highs, МА (200) for Н1, resistance line from May 1)
Resistance 2 : $1.2650 (МА (100) for Н1)
Resistance 1 : $1.2600 (area of session high and May 24 high)
Current price: $1.2580
Support 1 : $1.2510/00 (area of session low and May 24 low)
Support 2 : $1.2400 (psychological level)
Support 3 : $1.2300 (psychological level)
EUR/USD $1.2500, $1.2550, $1.2600, $1.2630, $1.2635, $1.2500
USD/JPY Y79.25, Y80.00
EUR/JPY Y100.00, Y100.50
GBP/USD $1.5685, $1.5700, $1.5800
EUR/GBP stg0.8000, stg0.8050
AUD/USD $0.9800
The euro headed for its biggest weekly decline this year as signs that Europe’s debt crisis is damping growth curbed demand for the currency. Europe’s shared currency is set for a 1.9 percent slide against the dollar this week, the biggest since the period ended Dec. 16. It has fallen 1 percent versus the yen. The 17-nation euro has fallen versus all but one of its 16 major counterparts since May 18 and before figures next week that may show consumer confidence in the currency bloc was little changed this month, while the jobless rate climbed in April to a 21-year high. A final reading will probably confirm that consumer confidence in the euro area was little changed at minus 19.3 in May from minus 19.9 in the previous month, according to the median estimate in a Bloomberg News survey before the figures are released May 30. The unemployment rate climbed to 11 percent in April, the highest in data compiled by Bloomberg going back to 1990, economist forecasts in a separate poll showed before the June 1 report. A composite index based on a survey of purchasing managers in the services and manufacturing industries in the euro bloc fell to 45.9 in May from 46.7 in the previous month, according to a separate report yesterday by Markit Economics. A reading below 50 indicates contraction.
The yen fell versus the dollar as a report showed consumer prices in Japan, excluding fresh food, climbed 0.2 percent in April from a year earlier, remaining far from the Bank of Japan’s 1 percent inflation target after years of falling prices.
The Dollar Index rose to a 20-month high as investors sought the relative safety of the U.S. currency.
EUR/USD: during the Asian session the pair traded in a range $1.2515-$1.2550.
GBP/USD: during the Asian session the pair traded in a range $1.5645-$1.5670.
USD/JPY: during the Asian session the pair rose to Y79.80.
European data for Friday starts at 0600GMT with German construction orders, shortly followed at 0610GMT by the Gfk measure of German consumer confidence. US data at 1355GMT sees the Michigan Sentiment Index, which is expected to be unrevised at a reading of 77.8, still up from the final April estimate for 76.4. Late data sees the 2015GMT release of US C&I loans data.
Yesterday 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.
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. The median forecast of economists was for a 0.7% decline.
EUR/USD: yesterday the pair fell come nearer to $1.2500.
GBP/USD: yesterday the pair fell, updated a monthly low.
USD/JPY: yesterday the pair holds nearby Y79.50.
European data for Friday starts at 0600GMT with German construction orders, shortly followed at 0610GMT by the Gfk measure of German consumer confidence. US data at 1355GMT sees the Michigan Sentiment Index, which is expected to be unrevised at a reading of 77.8, still up from the final April estimate for 76.4. Late data sees the 2015GMT release of US C&I loans data.
Resistance 3: Chf0.9675 (Feb 11-15 low)
Resistance 2: Chf0.9640 (161.8% FIBO Chf0.9465-Chf0.9575)
Resistance 1: Chf0.9605 (session high)
The current price: Chf0.9594
Support 1: Chf0.9575 (session low)
Support 2: Chf0.9530 (May 24 low)
Support 3: Chf0.9465 (May 23 low)
Resistance 3 : $1.5775 (May 23 high)
Resistance 2 : $1.5730 (May 24 high)
Resistance 1 : $1.5675 (session high)
The current price: $1.5654
Support 1 : $1.5635 (May 24 low)
Support 2 : $1.5600 (psychological low)
Support 3 : $1.5560 (138.2% FIBO $1.5850-$1.5635)
Resistance 3 : $1.2725 (May 21 low)
Resistance 2 : $1.2685 (May 23 high)
Resistance 1 : $1.2620 (May 24 high)
The current price: $1.2528
Support 1 : $1.2515 (May 24 low)
Support 2 : $1.2455 (161.8% FIBO $1.2690-$1.2545)
Support 3 : $1.2400 (psychological level)
(pare/closed(00:00 GMT +02:00)/change, %)
EUR/USD $1,2536 -0,40%
GBP/USD $1,5666 -0,15%
USD/CHF Chf0,9580 +0,42%
USD/JPY Y79,57 +0,15%
EUR/JPY Y99,75 -0,25%
GBP/JPY Y124,67 +0,02%
AUD/USD $0,9766 +0,13%
NZD/USD $0,7542 +0,37%
USD/CAD C$1,0266 +0,21%
06:00 Germany Gfk Consumer Confidence Survey June 5.6 5.8
07:15 Switzerland Employment Level Quarter I 4.04 4.05
13:55 U.S. Reuters/Michigan Consumer Sentiment Index (finally) May 76.4 77.7
20:00 U.S. Treasury Currency Report May
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