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Analytics, News, and Forecasts for CFD Markets: currency news — 26-09-2012.
The euro fell to a two-week low against the dollar after the yield on 10-year bonds in Spain over 6% for the first time since September 18, and the central bank, said the EU's gross domestic product declined in the quarter, sparking concern that the debt crisis in region deteriorates.
The single currency weakened on the seventh day against the yen after the finance ministers of Germany, the Netherlands and Finland, said that the foundation of saving Europe should be given a limited role in the bank recapitalization.
The dollar and yen rose against most traded currencies on speculation that central banks around the world will struggle to revive growth, stimulating the demand for safe assets.
Euro today fell to $ 1.2855 while still achieving the lowest level since September 12.
The Australian dollar fell against most currencies on concerns that political conflict will impede attempts to resolve the debt crisis in Europe, which has undermined demand for riskier assets. Rates fell $ 1.0366, after earlier fell to its lowest level since September 11.
British pound showed an increase against the U.S. dollar after a study of retail trade in Britain showed a positive result. In September, retailers reported increased sales, predicting positive momentum in the next month, as announced today the Confederation of British Industry. According to the study CBI, based on information collected during the first two weeks of this month, 33% of retailers reported an increase in sales compared to the index registered in the previous year, while 27% reported a drop in sales. Thus, the balance amounted to 6, in line with analysts' forecasts. Value is also improved compared to the previous month, when the balance reached 3%.
Shyness can lead to undesirable consequences
Then it's time to act
Passivity - the risk to which it is not necessary to go
Fed should mitigate the policy until inflation is below 3%
Fed should mitigate the policy until the unemployment rate is more than 7%
Strongly supported the Fed's decision
Some of the issues include slower growth, the situation in Europe, budget break
Adequate policy does not lead to inflation
Soft policy can increase employment, production, income
A stronger economy will be stable in the face of slowing global growth
The softer policy means strengthening the U.S. economy
EUR/USD $1.2675, $1.2850, $1.2910, $1.2950, $1.3000
USD/JPY Y77.60, Y78.00, Y78.15, Y78.50, Y78.65
EUR/JPY Y99.00
GBP/USD $1.6250
EUR/GBP stg0.7980
USD/CHF Chf0.9350
EUR/CHF Chf1.2095
AUD/USD $1.385, $1.0400, $1.0500
Euro updated intraday low of $ 1.2836
Data:
08:30 United Kingdom BOE Credit Conditions Survey Quarter III
10:00 United Kingdom CBI retail sales volume balance September -3 6 6
12:00 Germany CPI, m/m (preliminary) September +0.4% 0.0% +0.4%
12:00 Germany CPI, y/y (preliminary) September +2.1% +2.0% +2.1%
During the European session, the euro fell against the dollar and said two-week low against the yen amid concerns about Spain. Spain was under pressure due to the fact that in the next two days there will be announced on the budget, banking and structural reforms, and yet the market still remains little hope that the country asks for help. In addition, there is a risk downgrades by Moody's at the end of this week. Bank of Spain considers that in Q3. Spanish GDP can be significantly reduced, given recent economic data.
In Italy, the volume of retail sales in September fell by 0.2% m / m and 3.2% y / y vs. -0.5% y / y in August. French consumer confidence index in September fell to around 85 vs. 86 and 87 August result. Germany held an auction of 10-year bonds, being able to sell the securities in the amount of € 3.19 billion from € 5 billion of planned yield also increased from 1.42% to 1.52%.
British pound showed an increase against the U.S. dollar after a study of retail trade in Britain showed a positive result. In September, retailers reported increased sales, predicting positive momentum in the next month, as announced today the Confederation of British Industry.
According to the study CBI, based on information collected during the first two weeks of this month, 33% of retailers reported an increase in sales compared to the index registered in the previous year, while 27% reported a drop in sales. Thus, the balance amounted to 6, in line with analysts' forecasts. Value is also improved compared to the previous month, when the balance reached 3%.
EUR / USD: the pair decreased to $ 1.2839
GBP / USD: the pair rose to $ 1.6203, then dropped to $ 1.6155
USD / JPY: the pair dropped to Y77.58
In the U.S. at 14:00 GMT will the volume of home sales in the primary market in August, and 14:30 GMT - data on stocks of crude oil from the Department of Energy. 23:50 GMT Japan will publish the index of activity in the sector of large manufacturers, the index of activity in the non-manufacturing sector in Q3 Tankan, predictive index 'Tankan' for large enterprises the production sector and predictive value of the index 'Tankan' unproductive for Q4, the index 'Tankan' for capital costs of large enterprises in all sectors for the 3rd quarter.
EUR/USD
Offers $1.3000, $1.2970/80
Bids $1.2830-15, $1.2800, $1.2770/50
GBP/USD
Offers $1.6295-300
Bids $1.6150/40, $1.6120, $1.6085/80, $1.6060/50
AUD/USD
Offers $1.0520, $1.0490/00, $1.0450, $1.0420, $1.0400
Bids $1.0300, $1.0280/75, $1.0250, $1.0200
EUR/GBP
Offers stg0.8045/50, stg0.8015
Bids stg0.7935/25, stg0.7885/80, stg0.7860/50
USD/JPY
Offers Y78.50, Y78.20, Y78.00
Bids Y77.50, Y77.40/35, Y77.00
EUR/JPY
Offers Y101.50, Y101.20, Y101.00, Y100.45/50
Bids Y99.55/50, Y99.20, Y99.00, Y98.80, Y98.50
Germany alloted E3.191bln in tap of 10-year benchmark 1.50% Sep 2022 Bund Wednesday at an average yield of 1.52% (1.42%), bid-to-cover ratio of 1.2 (1.1) and retianed 36.2% (27.8%).
EUR/USD $1.2675, $1.2850, $1.2910, $1.2950, $1.3000
USD/JPY Y77.60, Y78.00, Y78.15, Y78.50, Y78.65
EUR/JPY Y99.00
GBP/USD $1.6250
EUR/GBP stg0.7980
USD/CHF Chf0.9350
EUR/CHF Chf1.2095
AUD/USD $1.385, $1.0400, $1.0500
Sold E9.0bln 6-month BOT, average yield 1.503% (1.585%), cover 1.39 (1.69).
22:45 New Zealand Trade Balance August 0.015 -0.610 -0.789
The euro fell to the lowest level in almost two weeks as political uncertainty and weakening economic data in the currency bloc underscored the deepening impact of the debt crisis. The 17-nation euro also reached a two-week low versus the yen before reports that may show declines in Italian retail sales and European consumer confidence. A final reading of a consumer confidence index in the euro area will probably confirm the gauge dropped to minus 25.9 this month, the lowest since May 2009, according to a separate survey. The European Commission will publish the data tomorrow.
The yen was 0.1 percent from a more than one-week high versus the dollar amid losses in Asian equities as Spanish Prime Minister Mariano Rajoy faces calls for early elections and a possible international rescue of his nation. Spain pledged to meet its budget goals even as data released yesterday showed government spending through August rose from a year ago and tax receipts fell. Meanwhile, Catalan President Artur Mas called early elections for Nov. 25, saying the time has come for Spain’s richest region to seek “self- determination.”
Mas’s call comes as Rajoy struggles to gain acceptance for austerity measures and stokes frustration in Germany over his foot-dragging on whether to seek a bailout.
New Zealand’s currency fell after the nation’s trade deficit widened. In New Zealand, a statistics bureau report released today showed the nation’s trade shortfall in the 12 months through August was NZ$866 million ($709.7 million), compared with economist forecasts for a NZ$760 million gap and a revised NZ$768 million deficit in the year ended July 31.
EUR / USD: during the Asian session the pair fell below $1.2900, updating week’s low.
GBP / USD: during the Asian session the pair fell below $1.6150, updating week’s low.
USD / JPY: during the Asian session the pair traded in the range of Y77.70-80.
U.K. data starts at 0830GMT with the release of the Bank of England Credit Conditions Survey for the third quarter. This is followed at 1000GMT with the release of the September CBI Distributive Trades Survey. The US calendar gets underway at 1100GMT, with the release of the MBA Mortgage Application Index for the Sept 21 week. At 1400GMT, U.S. August New Home Sales numbers will hit screens. The pace of new home sales is expected to rise to a 380,000 annual rate in August after the 3.6% rise in July. Also in the US, at 1430GM,T, EIA Crude Oil Stocks data are released.
Yesterday the dollar and yen fell against its most traded counterparts as the better-than-expected data on house prices and consumer confidence, demand for refuge assets.
The euro rose against the dollar after the European Central Bank Governing Council member Ewald Nowotny said he does not see the need to cut interest rates further at the moment, as investors had expected. Also increased the probability to provide slop Spain. The shares rose as consumer confidence in the U.S. in September reached a seven-month high.
Also, after the Spanish auction three-month yield bonds rose to the level of 1.203%, compared with 0.946% at the previous auction, which took place on August 28.
The data also showed that the index of German and French business confidence remained unchanged, while in Italy the figure fell to 15-year low.
The dollar index, which tracks the dollar against the currencies of six trading partners, the U.S., fell 0.1% to 79.408.
Canadian dollar rose after the retail sales rose in July, more than economists forecast, while showing the largest increase in new car sales in January.(pare/closed(00:00 GMT +02:00)/change, %)
EUR/USD $1,2903 -0,21%
GBP/USD $1,6194 -0,16%
USD/CHF Chf0,9375 +0,23%
USD/JPY Y77,80 -0,08%
EUR/JPY Y100,39 -0,29%
GBP/JPY Y125,97 -0,23%
AUD/USD $1,0385 -0,39%
NZD/USD $0,8214 -0,12%
USD/CAD C$0,9801 +0,18%
08:30 United Kingdom BOE Credit Conditions Survey Quarter III
10:00 United Kingdom CBI retail sales volume balance September -3 6
12:00 Germany CPI, m/m (preliminary) September +0.4% 0.0%
12:00 Germany CPI, y/y (preliminary) September +2.1% +2.0%
14:00 U.S. New Home Sales August 372 381
14:30 U.S. Crude Oil Inventories - +8.5
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