Analytics, News, and Forecasts for CFD Markets: currency news — 26-02-2013.

New home sales in the U.S. showed a substantial rebound in the month of January, according to a report released by the Commerce Department on Tuesday, with sales coming in well above economist estimates.

The Commerce Department said new home sales surged up by 15.6 percent to a seasonally adjusted annual rate of 437,000 in January from the revised December rate of 378,000.

Economists had been expecting new home sales to show a more modest increase to an annual rate of 381,000 from the 369,000 originally reported for the previous month.

Home prices in major U.S. metropolitan areas rose by slightly more than expected in the month of December, according to a report released by Standard & Poor's on Tuesday.

The report showed that the S&P/Case-Shiller 20-City Composite Home Price Index increased by a seasonally adjusted 0.9 percent in December following a 0.7 percent increase in November. Economists had been expecting the index to increase by about 0.8 percent.

Compared to the same month a year ago, the index rose by 6.8 percent in December, coming in line with economist estimates.

On a non-seasonally adjusted basis, the 20-City Composite Home Price Index crept up by 0.2 percent in December after edging down by 0.1 percent in November.

A separate report from the Federal Housing Finance Agency showed that home prices rose by 0.6 percent in December following a revised 0.4 percent increase in November.

EUR/USD $1.3000, $1.3050, $1.3100, $1.3200, 1.3225, $1.330

USD/JPY Y92.00, Y92.50, Y93.50

USD/CHF Chf0.9200

EUR/CHF Chf1.2325

AUD/USD $1.0150, $1.0220, $1.0300, $1.0335, $1.0350, $1.0380, $1.0390

08:15 Switzerland Employment Level Quarter IV 4.12 4.11 4.12

08:15 Switzerland Full time employment level Quarter IV 2.83 2.82

10:00 United Kingdom MPC Member Bean Speaks

10:00 United Kingdom MPC Member Tucker Speaks

10:00 United Kingdom MPC Member Miles Speaks

10:00 United Kingdom MPC Member McCafferty Speaks

11:00 United Kingdom CBI retail sales volume balance February 17 16 8

The euro strengthened from a seven- week low against the dollar as Italian and Spanish bonds trimmed losses on easing concern that inconclusive elections in Italy will deepen Europe’s debt crisis.

The euro advanced versus 12 of its 16 major counterparts as investors bet the European Central Bank will step in to limit any losses in so-called peripheral bonds following Governor Mario Draghi’s pledge in July to safeguard the currency union.

British pound offset some losses against the dollar in the correction after aggressive sales dropped him yesterday to a minimum 1.5074. Pound also enjoys the status of safe haven amid the political uncertainty prevailing in Italy after the election. Is today a representative of the Bank of England Bean said he expects to accelerate growth of the national economy in 2013-14, and expressed readiness to take additional measures QE according to forecasts. His colleague, McCafferty said that the collapse of the eurozone risks reduced but persist that once again confirmed the elections in Italy. Later pound came under pressure after the Bank of England statement predstavlitelya Tucker that "real exchange rate should be lower."

The focus of investors is today's performance of the Fed in Congress. It will be a semi-annual report of Ben Bernanke before the Committee on Banking Senate, scheduled for 15:00 GMT. Experts say that this will be the first update since the launch speech Fed QE program for an indefinite period, and almost no doubt that Congress will take an interest to the question of how and when the Fed intends to roll this program. In addition to updated forecasts for the economy (probably a little more optimistic they will), the market will be waiting for any further clarification on QE deadlines and specific guidelines that the Central Bank can use for this.

EUR / USD: during the European session the pair fell to $ 1.3017, and then rose to $ 1.3119

GBP / USD: during the European session the pair is trading in the range of $ 1.5127 - $ 1.5217

USD / JPY: during the European session the pair updated intraday low Y91.39, and then rose to Y91.87

At 14:00 GMT the U.S. will leave the index of housing prices in 20 cities S & P / Case-Shiller composite index and a nationwide home prices S & P / CaseShiller for December will be released at 15:00 GMT indicator of consumer confidence for February, the volume of sales in the primary market for January, and at 21:30 GMT will be published data on changes in the volume of crude oil, according to API. At 15:00 GMT a speech Chairman of the Federal Reserve System. At 21:45 GMT New Zealand will publish data on the trade balance and the trade balance for January. At 23:50 GMT, Japan will issue a change in retail sales for January.

EUR/USD

Offers $1.3150, $1.3120/25

Bids $1.3060/50, $1.3020/00, $1.2980/70, $1.2950

GBP/USD

Offers $1.5280, $1.5250/60, $1.5230/35, $1.5220

Bids $1.5105/095, $1.5070, $1.5050, $1.5010/00

AUD/USD

Offers $1.0375/80, $1.0350, $1.0320, $1.0290/95

Bids $1.0240/35, $1.0215, $1.0210/00, $1.0150

EUR/GBP

Offers stg0.8720/25, stg0.8695/700, stg0.8665/70

Bids stg0.8600, stg0.8575/70, stg0.8555/50, stg0.8520, stg0.8505/00

EUR/JPY

Offers Y122.50, Y122.00, Y121.50

Bids Y120.05/00, Y119.85/80, Y119.50/40, Y119.10/00, Y118.80/75, Y118.50

USD/JPY

Offers Y93.50, Y93.00, Y92.70/75, Y92.40

Bids Y91.60, Y91.20, Y91.05/00, Y90.80/75

EUR/USD $1.3100, $1.3225, $1.3300

USD/JPY Y92.50, Y93.50

USD/CHF Chf0.9200

EUR/CHF Chf1.2325

AUD/USD $1.0150, $1.0220, $1.0300, $1.0335, $1.0350, $1.0380, $1.0390

Italy Sold E8.75bln 6-month BOT at average yield 1.237% (0.731%), bid-to-cover 1.44 times (1.65)

The euro fell sharply against the dollar, losing all previously won positions, after the first results of the exit polls in Italy pointed to the center-left coalition victory Bersani. Now, the former Prime Minister Berlusconi is, according to the updated surveys, gaining 32% of the vote against Bersani, whose 28.7%. However, the last word will be for B. Grillo, representing 25% of the voters. Coalition Grillo and Bersani gaining around 53%, which is enough to win.

The yen fell to the weakest level since May 2010 against the dollar on speculation that Prime Minister Shinzo Abe will choose as the next head of the Bank of Japan advocate aggressive easing of monetary policy.

The pound fell to its lowest level since July 2010 against the dollar after the international rating agency Moody's Investors Service has downgraded by one notch, from Aaa to "Aa1", the UK government bond rating. The rating outlook - "stable." The Agency, in particular, pointed to the risks to the financial situation of the country due to the economic slowdown. Moody's expects the UK government debt in the coming years, as the rise of the British economy will be slow and uncertain, at least until 2016. Accordingly, the UK will continue to adhere to measures to reduce public spending. In January of approved applications for mortgages BBA in Britain fell by 33.6 thousand to 32.3 thousand vs. 34.2 thousand

The Canadian dollar was down against the U.S. dollar on speculation the governor of the Bank of Canada Governor Mark Carney said that economic growth slowed more than expected.

00:01 China HSBC Manufacturing PMI February 52.3 52.2 50.4

The yen fell against the dollar as traders sold the currency near this month’s high on speculation the Bank of Japan will ease monetary policy further to boost growth in the world’s third-largest economy. Japan’s Prime Minister Shinzo Abe is likely to nominate Haruhiko Kuroda for the BOJ governor position, and Kikuo Iwata and Hiroshi Nakaso for deputy roles, according to two officials with knowledge of the discussions. In a Feb. 11 interview, Kuroda said he favors additional stimulus this year, and the central bank has “really substantial room for monetary easing.” He also said that the global standard for achieving inflation targets was a two-year time horizon. When the BOJ set a 2 percent inflation target without a deadline in January, policy makers said the central bank would start open-ended asset purchases starting in 2014.

The euro fell against the pound after a spokesman for Italy’s Democratic Party candidate Pier Luigi Bersani said projections of the nation’s election results “show a risk of ungovernability.” Stefano Fassina, the economic policy spokesman was speaking yesterday on Italy’s La7 television. Forecasts by state broadcaster RAI showed Bersani winning the lower chamber and former Prime Minister Silvio Berlusconi with a blocking minority in the Senate.

EUR/USD: during the Asian session, the pair traded in the range of $1.3035-90.

GBP/USD: during the Asian session, the pair rose to $1.5220.

USD/JPY: during the Asian session, the pair traded in the range of Y91.85-Y92.75.

(pare/closed(00:00 GMT +02:00)/change, %)

EUR/USD $1,3062 -0,96%

GBP/USD $1,5161 -0,55%

USD/CHF Chf0,9321 +0,28%

USD/JPY Y91,80 -1,78%

EUR/JPY Y119,92 -2,74%

GBP/JPY Y149,23 +4,55%

AUD/USD $1,0255 -0,71%

NZD/USD $0,8326 -0,64%

USD/CAD C$1,0260 +0,54%

02:00 New Zealand Expected Annual Inflation 2y from now Quarter I +2.3%

08:15 Switzerland Employment Level Quarter IV 4.12 4.11

08:15 Switzerland Full time employment level Quarter IV 2.83

10:00 United Kingdom MPC Member Bean Speaks

10:00 United Kingdom MPC Member Tucker Speaks

10:00 United Kingdom MPC Member Miles Speaks

10:00 United Kingdom MPC Member McCafferty Speaks

11:00 United Kingdom CBI retail sales volume balance February 17 16

14:00 U.S. Housing Price Index, m/m December +0.6% +0.6%

14:00 U.S. Housing Price Index, y/y December +5.6%

14:00 U.S. S&P/Case-Shiller Home Price Indices, y/y December +5.5% +6.6%

15:00 U.S. Richmond Fed Manufacturing Index February -12 -4

15:00 U.S. Consumer confidence February 58.6 60.8

15:00 U.S. New Home Sales January 369 381

15:00 U.S. Fed Chairman Bernanke Testifies February

18:30 United Kingdom MPC Member Fisher Speaks

21:30 U.S. API Crude Oil Inventories +3.0

21:45 New Zealand Trade Balance, mln January 486 110