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Analytics, News, and Forecasts for CFD Markets: currency news — 25-06-2012.
Euro weakens on expectations the European summit, which should take place at the end of the week, and due to the fact that Italy and Spain are preparing to sell debt amid fears the financial crisis in Europe.
The decrease in the euro also contributed to the information that German Chancellor Angela Merkel rejected the joint evrobloka for bonds and bills. Also, she was opposed to funding the European authorities in Cyprus.
The yen strengthened, as the increased demand for the assets of the asylum, and fell to the share price.
Commodity currencies such as Canadian and Australian dollar dropped today against most major currencies as crude oil futures fell.
Billionaire investor George Soros' stated that there is disagreement on the financial side, and if they are not resolved within the next three days, that the summit could fail, leading to death.
In accordance with State Street Corp euro is likely to fall to $ 1.20 by the end of the year, as the debt crisis worsens in Europe. Investors should sell the euro and buy the U.S. dollar. The dollar will strengthen, as the prospect of further asset purchases by the Federal Reserve less likely.
EUR/USD $1.2500, $1.2580, $1.2650, $1.2700
USD/JPY Y79.50, Y80.25, Y80.35, Y80.50
GBP/USD $1.5600, $1.5800
AUD/USD $0.9965, $1.0030, $1.0200
USD/CAD C$1.0110
The euro fell before Italy and Spain sell debt tomorrow amid concern Europe’s fiscal crisis is infecting bigger economies.
The common currency extended last week’s drop versus the dollar as billionaire investor George Soros said the euro may dissolve if European Union leaders fail to tame the financial turmoil at a June 28-29 summit.
The yen strengthened on demand for haven assets as stocks slid.
EUR/USD: pair fell below $1.2500.
GBP/USD: pair decreased, showing low in $ 1.5540 area.
USD/JPY: pair fell in Y79.80 area.
US data starts at at 1400GMT by New Home Sales.
EUR/USD
Offers $1.2690/700, $1.2650, $1.2620/30, $1.2600, $1.2580/85, $1.2510
Bids $1.2455/50, $1.2400
GBP/USD
Offers $1.5750/55, $1.5695/700, $1.5620/40, $1.5590/1.5600
Bids $1.5525/20, $1.5500, $1.5480/70, $1.5450
AUD/USD
Offers $1.0125/30, $1.0100, $1.0020/25
Bids $0.9970/65, $0.9950, $0.9900
USD/JPY
Offers Y81.00, Y80.80, Y80.30/35
Bids Y79.70, Y79.50, Y79.40/35
EUR/JPY
Offers Y101.35/40, Y101.15/20, Y101.00, Y100.75/80, Y100.50, Y100.15/20
Bids Y99.50, Y99.00, Y98.50
EUR/GBP
Offers stg0.8200, stg0.8120/25, stg0.8100, stg0.8075/90
Bids stg0.8020, stg0.8010/00, stg0.7950
Resistance 3: Y81.70/80 (Apr 20 high, 61,8%% FIBO Y84 ,20-Y77, 60)
Resistance 2: Y81.00 (50.0%% FIBO Y84 ,20-Y77, 60)
Resistance 1: Y80.55 (MA (100) for D1, highs of May and June)
Current price: Y79.81
Support 1: Y79.75/70 (session low, MA (100) for H1)
Support 2: Y79.45 (MA (200) for H1)
Support 3: Y78.80 (Jun 20 low
Resistance 3: Chf0.9780 (highs of 2011-2012)
Resistance 2: Chf0.9680 (area of Jun 4-5 highs)
Resistance 2: Chf0.9650 (Jun 12 high)
Current price: Chf0.9621
Support 1: Chf0.9590 (earlier resistance, Jun 22 high)
Support 2: Chf0.9540 (Jun 22 low)
Support 3: Chf0.9520 (MA (200) and MA (100) for H1)
Resistance 3: $ 1.5655 (MA (100) for H1)
Resistance 2: $ 1.5630 (MA (200) for H1, Jun 22 high)
Resistance 1: $ 1.5590 (session high)
Current Price: $ 1.5556
Support 1: $ 1.5540 (session low)
Support 2: $ 1.5470 (Jun 14-15 lows)
Support 3: $ 1.5400 (Jun 8 low)
Resistance 3: $ 1.2740/50 (Jun 18 and 20 highs)
Resistance 2: $ 1.2630 (MA (200) and MA (100) for H1)
Resistance 1: $ 1.2520 (resistance line from Jun 20)
Current Price: $ 1.2484
Support 1: $ 1.2480 (session lows)
Support 2: $ 1.2440 (Jun 12 low)
Support 3: $ 1.2410 (Jun low)
EUR/USD $1.2500, $1.2580, $1.2650, $1.2700
USD/JPY Y79.50, Y80.25, Y80.35, Y80.50
GBP/USD $1.5600, $1.5800
AUD/USD $0.9965, $1.0030, $1.0200
USD/CAD C$1.0110
The euro fell toward the lowest in more than a week before Italy and Spain sell debt tomorrow amid concern Europe’s fiscal crisis is infecting bigger economies. Italy is scheduled to sell inflation-linked securities maturing in 2016 and 2026 tomorrow as well as 3 billion euros ($3.8 billion) of zero-coupon bonds. Spain will offer three- and six-month bills the same day.
The 17-nation currency halted a gain from the end of last week as billionaire investor George Soros warned the euro may dissolve if European Union leaders fail to curb the region’s debt crisis at a two-day summit. A summit in Brussels starting June 28 is the first meeting of European leaders since the Greek parliamentary elections on June 17. New Democracy leader Antonis Samaras won on his pledge to seek relief from austerity measures imposed on the country while keeping the bailout funds flowing. The Greek prime minister won’t attend the meeting on the advice of his doctors after undergoing surgery to repair a detached retina.
The yen touched a two-month low against the dollar on speculation a plan to double Japan’s sales tax will widen divisions in the nation’s ruling party.
EUR / USD: during the Asian session the pair dropped to the last week's low
GBP / USD: during the Asian session the pair holds in range $1.5575-$1.5590.
USD / JPY: during the Asian session the pair fell to Friday's low.
European data starts at 0600GMT with German construction orders, followed at 0610GMT by consumer confidence. Later on, at 1530GMT, ECB Governing Council member Jens Weidmann is due to participate in a debate, in Hamburg. US data starts at at 1400GMT by New Home Sales.
The euro exchange rate fluctuates against the dollar after European Central Bank lowered margin requirements for banks. At the same time, German Chancellor Angela Merkel said that the direct funding of banks violate the terms of the contract for the region.
Also on the depreciation of the euro affected the business climate index data in Germany. As it became known that the business sentiment in Germany decreased for the second consecutive month. In June the figure had fallen to its lowest level over the past two years, due to the fact that Europe's largest economy is experiencing the consequences of the debt crisis of the euro zone.
The data of this indicator was added the fear that the German economy is losing stamina and, perhaps, will reduce the level of GDP in the second quarter. Other data also point to a recession. Industrial activity is on the low level for the past three years.
The yen fell as the Japanese Lower House lawmakers prepared to vote for a bill that increases the sales tax by half.
The Canadian dollar rose after official data showed that the rate of inflation in Canada in May showed the slowest pace since June 2010, which was caused by the reduction of energy consumption and maintenance of the central bank of low-level production and rising prices.
Resistance 3: Y81.45 (Apr 27 high)
Resistance 2: Y80.85 (Apr 24 low)
Resistance 1: Y80.65 (session high)
Current price: Y80.32
Support 1: Y80.00 (Jun 22 low)
Support 2: Y79.70 (Jun 20 high)
Support 3: Y79.40 (Jun 21 low)
Resistance 3: Chf0.9650/55 (area of Jun 8-12 highs)
Resistance 2: Chf0.9600 (psychological level)
Resistance 1: Chf0.9590 (Jun 22 high)
Current price: Chf0.9575
Support 1: Chf0.9540 (Jun 22 low)
Support 2: Chf0.9500 (Jun 20 high)
Support 3: Chf0.9420/25 (area of Jun 18-21 lows)
Resistance 3: $ 1.5730 (Jun 21 high)
Resistance 2: $ 1.5655 (Jun 20 high)
Resistance 1: $ 1.5635 (Jun 22 high)
Current Price: $ 1.5584
Support 1: $ 1.5555 (Jun 22 low)
Support 2: $ 1.5510 (low of the U.S. session on Jun 15)
Support 3: $ 1.5470/75 (area of Jun 14-15 low)
Resistance 3: $ 1.2745/50 (area of Jun 18-20 highs)
Resistance 2: $ 1.2635 (Jun 20 low)
Resistance 1: $ 1.2585 (session high)
Current Price: $ 1.2541
Support 1: $ 1.2520 (Jun 22 low)
Support 2: $ 1.2500 (psychological level)
Support 3: $ 1.2435/45 (area of Jun 8-12 lows)
14:00 U.S. New Home Sales May 343 347
23:50 Japan CSPI, y/y May +0.2% +0.3%
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