Analytics, News, and Forecasts for CFD Markets: currency news — 27-02-2013.

ATTENTION: The content in the news and analytics feed is updated automatically, and reloading the page may slow down the process of new content appearing. We recommend that you keep your news feed open at all times to receive materials quickly.

Filter by currency

27.02.2013

19:20

American focus: the euro rose

The euro strengthened against the dollar, which was the first time in three days after Italy reached target levels at placement, and a published report showed that the level of economic confidence in the region has improved this month. In addition, the data support the euro was the German Economic Institute Gfk, according to which the German consumer confidence index in the last reporting period rose to 5.9 points from the previous value of 5.8 points, which was in line with the average forecast of analysts. Earlier, two other organizations that assess the mood in the German economy, Ifo and Zew also reported improvement of their indices. Data from Gfk, Ifo and ZEW give reason to expect that economic growth in Germany will rise after weak Q4 2012. We also add that market participants' attention was focused on the speech Fed Chairman Ben Bernanke and ECB President M. Draghi, who almost did not affect the dynamics of bidding.

The yen rose against most of its 16 major pending appointment of a new head of the Bank of Japan, which will take place tomorrow. Economists also point out that the race was a favorite Kuroda, as it enjoys the highest prestige in the international arena, and although he is a critic of the Bank of Japan, it does not support the idea of buying foreign bonds.

Australian and New Zealand dollars fell against the U.S. dollar, which is the third-session decline in a row, against the background of concerns that joyless election results in Italy, will exacerbate the debt crisis in Europe, and will increase investors' appetite for risky assets.

The British pound rose against the dollar after the Bank of England today Representative Bean suggested revising the target level of inflation. Report published today shows that up to the 4th quarter of the British economy grew by 0.3% vs. 0.0% y / y, while the quarterly index decreased by 0.3% in line with forecasts. General business investment fell by 1.2% q / q, the annual rate of 0.4% compared to 5.4% y / y.

19:20

American focus : the euro rose against the dollar significantly

The euro exchange rate has risen sharply against the U.S. dollar , which was associated with the release of weak U.S. data and Fed chief comments . It is learned that orders for durable goods (products designed for the life of three years or more ) fell to a seasonally adjusted 1% from December . This is the second consecutive decline after orders fell 4.2 % in December. But excluding the volatile transportation category , orders rose by 1.1 % last month , showing the strongest growth since May. Economists forecast that overall orders for durable goods fell 0.7% in January.

Meanwhile, another report showed that the number of initial claims for unemployment benefits rose by 14,000 and amounted to a seasonally adjusted 348,000 in the week ended February 22. The figure for the previous week was revised down to 334,000 from 336,000 . Economists had predicted that jobless drop to 333,000 . The four-week moving average of claims remained unchanged last week at 338,250 . Analyst Department of Labor said that there were no special factors that could affect the data last week.

As for the speech of the Chairman of the Federal Reserve Janet Yellen , she noted : the Fed will continue to reduce the amount of quantitative easing (QE), despite the fact that the recovery of the U.S. labor market is still far from complete. Yellen also reiterated statements made on February 11 at the House of Representatives . Initially, her performance in the Senate Banking Committee to be held on February 13 , but was postponed due to inclement weather .

Furthermore Yellen confirmed that the base rate is likely to be maintained at the current level ( 0-0.25 %) for a long time after the U.S. unemployment rate falls below 6.5% , while maintaining the inflation forecast is not above the level of 2.5 %. She noted that the decision on the rate of reduction of volumes of quantitative easing are not predefined and the FOMC will be taken depending on the assessment of the situation on the labor market and inflation.

The Canadian dollar fell slightly against the U.S. dollar , which was associated with the release of data on the balance of payments . As it became known , the current account deficit widened in Canada in the fourth quarter of 2013 and the fourth largest in history, mainly due to a higher deficit in trade in goods . The current account deficit rose to a seasonally adjusted 16.01 billion Canadian dollars ( $ 14.39 billion ) , compared with a revised deficit in the third quarter at 14.80 billion Canadian dollars . Deficit in the previous quarter originally estimated at 15.47 billion Canadian dollars . Economists had expected a deficit of $ 16.5 billion Canadian dollars .

BMO Capital Markets experts believe that the recent period of large current account deficits provides evidence that the Canadian dollar was overvalued in recent years. The recent weakening of the currency is expected to gradually lead to a smaller current account deficit in 2014.

15:30

U.S.: Crude Oil Inventories, +1.1

15:00

U.S.: Pending Home Sales (MoM) , January +4.5% (forecast +1.7%)

13:59

U.S. durable goods orders fall more than expected in January

With orders for transportation equipment showing a substantial decrease, the Commerce Department released a report on Wednesday showing that new orders for U.S. manufactured durable goods fell by more than expected in the month of January.

The report said durable goods orders tumbled by 5.2 percent in January after jumping by a revised 3.7 percent in December. Economists had expected orders to fall by 4.0 percent compared to the 4.3 percent increase that had been reported for the previous month.

Excluding the sharp drop in orders for transportation equipment, durable goods orders actually rose by 1.9 percent in January compared to a 1.0 percent increase in December. Ex-transportation orders had been expected to edge up by 0.2 percent.

13:46

Option expiries for today's 1400GMT cut

EUR/USD $1.3110, $1.3150, $1.3200, $1.3250, $1.3300, $1.3400

USD/JPY Y92.00, Y92.45, Y92.50, Y93.00, Y93.55, Y94.50

EUR/JPY Y120.00, Y124.50, Y125.00

USD/CHF Chf0.9275

AUD/USD $1.0150, $1.0185/90, $1.0200, $1.0250, $1.0285, $1.0290, $1.0300

13:31

U.S.: Durable goods orders ex defense, January -0.4% (forecast -3.4%)

13:31

U.S.: Durable Goods Orders ex Transportation , January +1.9% (forecast +0.3%)

13:30

U.S.: Durable Goods Orders , January -5.2% (forecast -4.1%)

13:15

European session: the euro rose

07:00 Switzerland UBS Consumption Indicator January 1.34 1.18
07:00 Germany Gfk Consumer Confidence Survey March 5.8 5.9 5.9
07:45 France Consumer confidence February 86 86 86
08:00 Switzerland KOF Institute Economic Forecast February 1.12 1.00 1.03
09:00 Eurozone M3 money supply, adjusted y/y January +3.3% +3.2% +3.5%
09:30 United Kingdom Business Investment, q/q (Preliminary) Quarter IV +3.7% +2.2% -1.2%
09:30 United Kingdom GDP, q/q (Revised) Quarter IV -0.3% -0.3% -0.3%
09:30 United Kingdom GDP, y/y (Revised) Quarter IV 0.0% 0.0% +0.3%
09:40 United Kingdom MPC Member Bean Speaks
10:00 Eurozone Industrial confidence February -13.9 -13.1 -11.2
10:00 Eurozone Business climate indicator February -1.09 -1.02 -0.73

The euro strengthened for the first time in three days against the dollar as Italy reached its target in a bond sale and a report showed economic confidence in the region improved this month. Italy’s 10-year bonds advanced as the Treasury sold 4 billion euros of new 10-year securities and 2.5 billion euros of five-year notes, meeting its target. It sold the 10-year debt at an average yield of 4.83 percent, versus 4.17 percent at a previous auction Jan. 30. An index of euro-area executive and consumer sentiment rose to 91.1 from a revised 89.5 in January, the European Commission in Brussels said. Economists had forecast an increase to 89.9, according to a survey.

The 17-nation currency climbed from near a seven-week low set yesterday as Pier Luigi Bersani, whose group fell short of a senate majority in Italian elections, appealed to populist Beppe Grillo to show he’s willing to help govern. New Italian elections may be necessary if the coalition led by Democratic Party leader Bersani, who won the Chamber of Deputies by a thin margin, fails to muster a majority in the Senate. Grillo’s anti-austerity movement gained more than 25 percent of the popular vote.

The Dollar Index fell for the first time in six days before Bernanke testifies today to the House Financial Services Committee. He signaled to the Senate Banking Committee yesterday the Fed is prepared to keep buying bonds at its present pace and dismissed concerns record easing risks sparking inflation. Bernanke has pushed back against colleagues on the Federal Open Market Committee who favor curtailing the $85 billion in monthly bond-buying.

EUR / USD: during the European session, the pair rose to $ 1.3122

GBP / USD: during the European session, the pair rose to $ 1.5165

USD / JPY: during the European session, the pair is trading at lows Y91.60-70

U.S. 13:30 GMT publish the change in orders for durable goods, including excluding transportation equipment in January, at 15:00 GMT will change in the volume of outstanding home sales for January, at 15:30 GMT and will be published data on stocks of crude oil from the Department of Energy. At 15:00 GMT a speech Chairman of the Federal Reserve System. At 21:45 GMT New Zealand publish data on the change in the volume of building permits issued in January. At 23:50 in Japan will be released preliminary data on industrial production for January.

13:02

Orders

EUR/USD

Offers $1.3150, $1.3120/25

Bids $1.3030, $1.2980, $1.2965/55

GBP/USD

Offers $1.5250/60, $1.5230/35, $1.5220, $1.5180/85

Bids $1.5100, $1.5080/70, $1.5050, $1.5010/00, $1.4980

AUD/USD

Offers $1.0320, $1.0290/95, $1.0270, $1.0250/60, $1.0225/30

Bids $1.0175, $1.0150, $1.0100, $1.0050

EUR/GBP

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

Bids stg0.8630/20, stg0.8600, stg0.8575/70, stg0.8555/50, stg0.8520, stg0.8505/00

EUR/JPY

Offers Y122.00, Y121.50, Y121.00, Y120.70/80, Y120.40/50

Bids Y119.55/50, Y119.10/00, Y118.80/75, Y118.50

USD/JPY

Offers Y92.70/75, Y92.50, Y92.20, Y92.00

Bids Y91.50, Y91.20, Y91.05/00, Y90.85, Y90.80/75

11:30

Eurozone economic confidence rises for fourth month

Eurozone economic confidence improved for the fourth straight month in February, survey data from the European Commission showed Wednesday.

The economic sentiment index came in at 91.1, up from 89.5 in the prior month. The reading stayed above the consensus forecast of 89.9.

Continuing the broad upward trend observed since November, industry confidence improved to -11.2 in February from -13.8 in the prior month.

Also services confidence continued the upward trend it has been following since October. The index rose to -5.4 from -7.7 in January.

Confidence in construction, meanwhile, fell to -29.8 from -28.5 in the previous month. Consumer confidence rose to -23.6 from -23.9 in the previous month.

In a separate communique, the commission said the business Climate Indicator increased by 0.36 points to -0.73 in February. The reading was better-than an expected -1.02.

The assessment of current order books, production expectations and past production improved significantly. At the same time, the assessment of the adequacy of stocks of finished products remained virtually unchanged in February.

10:47

UK Q4 GDP Contraction Confirmed At 0.3%

The British economy contracted 0.3 percent quarter-on-quarter in the fourth quarter, unrevised from the previous estimate, the latest figures from the Office for National Statistics showed Wednesday.

The third quarter GDP figures were revised up to show a 1 percent growth for the period compared to 0.9 percent growth reported initially.

Output of the production industries fell 1.9 percent quarter-on-quarter in the fourth quarter, revised down from the previously estimated 1.8 percent fall. Manufacturing output dropped 1.3 percent, revised up from the previously estimated decrease of 1.5 percent.

Output of the service industries fell 0.1 percent while it was previously estimated to be unchanged. Output of the construction industry rose 0.9 percent, stronger than the 0.3 percent increase reported earlier.

Household final consumption expenditure increased 0.2 percent in volume terms in the latest quarter. Government final consumption expenditure increased 0.6 percent.

At the same time, gross fixed capital formation decreased 0.4 percent in the fourth quarter, following a decrease of 0.6 percent in the previous quarter.

10:23

Option expiries for today's 1400GMT cut

EUR/USD $1.3110, $1.3150, $1.3200, $1.3250, $1.3300, $1.3400

USD/JPY Y92.45, Y92.50, Y93.00, Y93.55, Y94.50

EUR/JPY Y124.50, Y125.00

USD/CHF Chf0.9275

AUD/USD $1.0150, $1.0200, $1.0250, $1.0285, $1.0290, $1.0300