Analytics, News, and Forecasts for CFD Markets: currency news — 25-09-2012.

• Economic growth remains very uneven

• Some eurozone countries undergoing correction, recession

• Economic growth to resume next year

• There has been progress in strengthening eurozone

• There is reason to be optimistic if the government will continue to reform

• The ECB continues to ensure price stability

• No unnecessary fears about the euro to maintain price stability

• Our efforts can only pave the way for sustainable future

• It is necessary that the rise in the market has strengthened the commitment of the reforms

You must use the ESM reserves the most effective way

A lack of confidence due to the Spanish market speculation

It is useless to speculate on Greece before the Troika report

At the beginning of the European session, the euro fell against the dollar and the yen after GfK data showed that in October, the consumer confidence index in Germany will remain the same at 5.9, which was in line with the average forecast of analysts. The last time the index exceeded this mark in March 2011.

Disagreements about how to overcome the European debt crisis continues to grow. Failure to reach agreement in the banking union, uncertainty as to whether Spain needed a complete package of assistance, as well as complex negotiations with Greece - is not the best way could affect consumer confidence.

In addition, S & P has lowered its forecast for GDP growth in the euro area for 2012 - 2013, stating that the eurozone is entering a new period of recession.

Euro fell against most of its 16 major counterparts as the background of the Spanish government bond yield growth and falling demand for debt securities Italy.

Later, after the announcement of the auction results of the European Central Bank's weekly deposits euro recovered to session highs.

The yen touched week high against the U.S. dollar, amid falling Asian stocks, which stimulates demand for the Japanese currency as a safe-haven for.

The dollar rose against the euro ahead of today's publication of the data in the U.S.. According to the median estimate of economists indicator of consumer confidence in the world's largest economy is likely to grow in September to 63.2, against 60.6 in August. It is also expected that the price index of the S & P / Case-Shiller today may show that housing prices in 20 major U.S. cities in July, rose 1.1%. This will be the highest reading since August 2010.

EUR / USD: the pair decreased to $ 1.2885, then rose to $ 1.2944

GBP / USD: the pair rose to $ 1.6268, then dropped to $ 1.6223

USD / JPY: the pair dropped to Y77.65

At 12:30 GMT, Canada will release the change in retail sales and the change in retail sales excluding auto sales for July. In the U.S. at 14:00 GMT indicator of consumer confidence will be released in September and 20:30 GMT - the change in volume of crude oil, according to API. At 23:50 GMT, Japan will issue a change in retail sales for August.

GBP/USD

Offers  $1.6380, $1.6350, $1.6330/40, $1.6280

Bids  $1.6180, $1.6165/60, $1.6150/40, $1.6120

AUD/USD

Offers  $1.0540/50, $1.0520, $1.0490/00, $1.0460, $1.0450

Bids  $1.0400, $1.0350/40, $1.0300

EUR/GBP

Offers  stg0.8070/80, stg0.8045/50, stg0.7960/65

Bids stg0.7885/80, stg0.7860/50

USD/JPY

Offers  Y78.50, Y78.20, Y78.00

Bids  Y77.50, Y77.40/35

EUR/JPY

Offers  Y101.50, Y101.00, Y100.80

Bids Y100.00, Y99.80, Y99.55/50, Y99.20, Y99.00

The 17-nation euro failed to rally after a five-day drop against the yen before data forecast to show French business confidence worsened, while Italian consumer sentiment stagnated. French industrial confidence probably fell to 89 this month from 90 in August, according to the median estimate of economists surveyed by Bloomberg News before the national statistics office Insee releases the report today. That would match the figure reached in July, which was the lowest since February 2010. Consumer confidence in Italy is estimated to remain at 86 this month, according to a separate poll.

The yen touched a one-week high versus the dollar as Asian stocks fell, spurring demand for Japan’s currency as a refuge.

Australia’s dollar pared losses from yesterday as a leading indicator for China’s economy rose in August, supporting trade prospects for the South Pacific nation.

The dollar is set for a decline versus most of its 16 major counterparts this quarter as expanded central bank stimulus and improving sentiment over U.S. growth prompts investors to seek higher-yielding assets. The Conference Board’s index of consumer confidence in the world’s biggest economy probably rose to 63.2 in September from 60.6 in August, based on a Bloomberg News survey of economists before today’s report. An index from S&P/Case-Shiller due today may show home prices in 20 U.S. cities rose 1.1 percent in July from the year-before period, the most since August 2010, according to a separate survey.

EUR/USD: during the Asian session, the pair traded in the range of $1.2925-55.

GBP/USD: during the Asian session, the pair traded in the range of $1.6215-40.

USD/JPY: during the Asian session, the pair traded in the range of Y77.80-90.

The European calendar kicks off at 0610GMT, with the release of the German GfK consumer confidence data, following after yesterday's weaker than expected IfO reading. The is followed at 0645GMT, with the release of French August housing starts/permits and the September service and manufacturing sentiment indices. Back in Europe, at 1300GMT, ECB President Mario Draghi is slated to give keynote address at the "Day of the German Industries", in Berlin. The US calendar kicks off at 1145GMT with the release of the ICSC-Goldman Store Sales for the Sept 22 week. At 1230GMT, Canadian July Retail trade numbers are released. At 1255GMT, the US Redbook Average numbers for the Sept 22 week are released. The July S&P/Case-Shiller Home Price Index is released at 1300GMT. US data continues are 1400GMT, with the release of the September Consumer Confidence (CB) data. Also at 1400GMT, the September Richmond Fed Manufacturing Index data is released. At 1530GMT, Philadelphia Federal Reserve Bank Pres. Charles Plosser speaks to the CFA of Philadelphia and Bond Club of Philadelphia. After, he will answer questions from the audience and media. At 1730GMT, Treasury Secretary Tim Geithner speaks to the Clinton Global Initiative in New York.