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Analytics, News, and Forecasts for CFD Markets: currency news — 27-06-2012.
The euro approached the lowest level against the dollar in more than two weeks after German Chancellor Angela Merkel dimmed expectations European leaders will solve the region’s debt crisis when they meet tomorrow.
The 17-nation currency pared its advance versus the yen after Italian borrowing costs increased at a bill sale. Merkel responded to a Spanish plea by saying joint euro-area bonds are the “wrong way” to achieve integration, while Finance Minister Wolfgang Schaeuble called for stronger fiscal discipline.
Speaking three hours after Spanish Prime Minister Mariano Rajoy made a plea for a two-day summit of European leaders in Brussels to use all available tools to help Spain service its debt, Merkel said euro bonds, euro bills and debt redemption funds are unconstitutional in Germany and economically “wrong and counterproductive.”
The pound fell against all of its major counterparts as U.K. mortgage approvals fell to their lowest level in more than a year. The British pound weakened after the number of loans granted to buy homes dropped 5.8 percent last month to 30,238, the least since April 2011, supporting the case for the central bank to resume an expansion of stimulus measures. Bank of England Governor Mervyn King told lawmakers yesterday he voted for more so-called quantitative easing this month because of a deteriorating global economic outlook.
USD/JPY Y79.00, Y79.25, Y79.30, Y79.50, Y79.65, Y79.70
EUR/USD $1.2500, $1.2525, $1.2530, $1.2545, $1.2550
GBP/USD $1.5650, $1.5655
USD/CHF Chf0.9500
AUD/USD $0.9900, $1.0010, $1.0050, $1.0100, $1.0150
EUR/USD
Offers $1.2600, $1.2580/85, $1.2560, $1.2550, $1.2520
Bids $1.2480, $1.2450/40, $1.2400
GBP/USD
Offers $1.5695/00, $1.5670/75, $1.5650/55
Bids $1.5600, $1.5585/75, $1.5550, $1.5525/20
AUD/USD
Offers $1.0200, $1.0190, $1.0150, $1.0125/30, $1.0100
Bids $1.0000, $0.9980, $0.9970/65, $0.9950
USD/JPY
Offers Y80.30/40, Y80.00, Y79.80, Y79.65/70
Bids Y79.20, Y79.00
EUR/JPY
Offers Y100.50, Y100.35/40, Y100.15/20, Y100.00, Y99.90
Bids Y99.20, Y98.85/75, Y98.50
EUR/GBP
Offers stg0.8075/90, stg0.8045/50, stg0.8035/40, stg0.8020/25
Bids stg0.7965/60, stg0.7950, stg0.7900
Resistance 3: Y80.90 (50.0% FIBO Y84 ,20-Y77, 60)
Resistance 2: Y80.55 (MA (100) for D1, highs of May and June)
Resistance 1: Y79.90 (MA (100) for H1)
Current price: Y79.64
Support 1: Y79.20 (Jun 26 low)
Support 2: Y78.80 (Jun 20 low)
Support 3: Y78.60 (Jun 15 low)
Resistance 3: Chf0.9780 (area of peaks of 2011 and 2012)
Resistance 2: Chf0.9680 (area of peaks Jun 4-5)
Resistance 1: Chf0.9650 (Jun 12 and 26 high)
Current price: Chf0.9607
Support 1: Chf0.9580 (Jun 26 low, MA (100) for H1)
Support 2: Chf0.9540 (MA (200) for H1)
Support 3: Chf0.9500 (earlier resistance, Jun 20 high)
Resistance 3: $ 1.5780 (Jun 20 high, 50,0% FIBO $ 1,6300 - $ 1,5260)
Resistance 2: $ 1.5730 (Jun 21 high)
Resistance 1: $ 1.5640/50 (session high, Jun 26 high, MA (200) for H1)
Current Price: $ 1.5631
Support 1: $ 1.5600 (MA (100) for H1)
Support 2: $ 1.5540 (Jun 25 low)
Support 3: $ 1.5470 (Jun 14-15 lows)
Resistance 3: $ 1.2740 (Jun 18 and 20 highs)
Resistance 2: $ 1.2580 (area of of MA (200) for H1 and Jun 25 high)
Resistance 1: $ 1.2530 (Jun 26 high, MA (100) for H1)
Current Price: $ 1.2494
Support 1: $ 1.2440 (Jun 12 low)
Support 2: $ 1.2410 (Jun 5 low)
Support 3: $ 1.2290 (low of June)
USD/JPY Y79.00, Y79.25, Y79.30, Y79.50, Y79.65, Y79.70
EUR/USD $1.2500, $1.2525, $1.2530, $1.2545, $1.2550
GBP/USD $1.5650, $1.5655
USD/CHF Chf0.9500
AUD/USD $0.9900, $1.0010, $1.0050, $1.0100, $1.0150
Sold E9.0bln vs target E9.0bln.
E9.0bln 6-month BOT, avg yield 2.957% (2.104%), cover 1.62 (1.61)
The yen strengthened against most of its major peers as Europe’s fiscal crisis loomed over a second day of debt sales in Italy, supporting demand for refuge assets. Italy is scheduled to auction 9 billion euros ($11 billion) of 185-day bills today, followed by sales of five- and 10-year bonds tomorrow totaling 5.5 billion euros. The nation’s 10-year yields climbed to a five-month high of 6.34 percent on June 14, nearing the 7 percent level that spurred Greece, Ireland and Portugal to seek bailouts.
Italy sold zero-coupon notes yesterday maturing in 2014 to yield 4.712 percent, the most this year. Investors bid for 1.65 times the amount offered, the lowest bid-to-cover ratio since November.
German Chancellor Angela Merkel and French President Francois Hollande will meet today in Paris before a two-day European Union summit in Brussels. The EU summit starting tomorrow is the first meeting of European leaders since pro-bailout parties in Greece won at parliamentary elections on June 17. France and Italy are urging Germany to help end the debt crisis, now in its third year.
EUR / USD: during the Asian session the pair rose above $1.2500.
GBP / USD: during the Asian session the pair holds in range $1.5620-$1.5640.
USD / JPY: during the Asian session the pair fell to yesterday's lows.
UK data at 0830GMT sees the BBA Bank Lending Report, including Mortgage Approvals. UK data continues at 1000GMT with the monthly CBI Distributive Trades Survey for June. US data starts at 1100GMT with the weekly MBA Mortgage Application Index. Then, at 1230GMT, US durable goods orders are expected to rise 0.5% in May after a flat reading in April. US data then continues with NAR Pending Home Sales at 1400GMT and the weekly EIA Crude Oil Stocks data at 1430GMT. At 1530GMT, Chicago Federal Reserve Bank President Charles Evans begins an interview by wire service reporters.
Yesterday the euro fell to the lowest level in more than a week against the yen as Spanish and Italian borrowing costs rose amid concern a European Union summit this week will fail to solve the sovereign-debt crisis.
Italy sold 2.99 billion euros of zero-coupon notes due in May 2014 at a yield of 4.71 percent, more than the 4.04 percent paid on May 28. Spain auctioned 3.08 billion euros of bills, with three-month securities yielding 2.36 percent, compared with 0.85 percent at the previous auction.
Moody’s Investors Service downgraded 28 Spanish banks yesterday, citing the country’s sovereign debt and rising real estate losses.
The 17-nation currency slid against the dollar, reaching its lowest point since June 8, after German Chancellor Angela Merkel was quoted saying she expects no shared debt liability in her lifetime.
The greenback weakened against the yen after a report showed that U.S. consumer confidence fell for a fourth month in June, reaching a five-month low. Japan’s currency strengthened versus most of its major peers on haven appeal.
Resistance 3: Y80.65 (Jun 25 high)
Resistance 2: Y80.00 (Apr 22 high, psychological level)
Resistance 1: Y79.80 (Jun 26 high)
Current price: Y79.46
Support 1: Y79.20 (Jun 26 low)
Support 2: Y78.80 (Jun 20 low)
Support 3: Y78.60 (Jun 15 low)
Resistance 3: Chf0.9700 (psychological level)
Resistance 2: Chf0.9650 (Jun 26 high)
Resistance 1: Chf0.9625 (session high)
Current price: Chf0.9606
Support 1: Chf0.9580 (Jun 26 low)
Support 2: Chf0.9540 (Jun 22 low)
Support 3: Chf0.9500 (Jun 20 high)
Resistance 3: $ 1.5775 (Jun 20 high)
Resistance 2: $ 1.5730 (Jun 21 high)
Resistance 1: $ 1.5650 (Jun 26 high)
Current Price: $ 1.5634
Support 1: $ 1.5575 (low of the U.S. session on Jun 26)
Support 2: $ 1.5535 (Jun 25 low)
Support 3: $ 1.5510 (low of the U.S. session on Jun 15)
Resistance 3: $ 1.2635 (Jun 20 high)
Resistance 2: $ 1.2585 (Jun 22 high)
Resistance 1: $ 1.2530 (Jun 26 high)
Current Price: $ 1.2499
Support 1: $ 1.2480 (session low)
Support 2: $ 1.2440 (Jun 26 low)
Support 3: $ 1.2405 (Jun 5 low)
(pare/closed(00:00 GMT +02:00)/change, %)
EUR/USD $1,2491 -0,08%
GBP/USD $1,5634 +0,42%
USD/CHF Chf0,9613 +0,08%
USD/JPY Y79,49 -0,20%
EUR/JPY Y99,30 -0,25%
GBP/JPY Y124,27 +0,23%
AUD/USD $1,0058 +0,52%
NZD/USD $0,7907 +0,43%
USD/CAD C$1,0241 -0,49%
06:00 Germany Import prices May -0.5% -0.5%
06:00 Germany Import prices Y/Y May +2.3% +2.3%
08:30 United Kingdom BBA Mortgage Approvals May 32.4 32.8
10:00 United Kingdom CBI retail sales volume balance June 21 14
12:00 Germany CPI, m/m (preliminary) June -0.2% 0.0%
12:30 U.S. Durable Goods Orders May +0.2% +0.5%
12:30 U.S. Durable Goods Orders ex Transportation May -0.6% +1.0%
12:30 U.S. Durable goods orders ex defense May -1.9% +0.6%
14:00 U.S. Pending Home Sales (MoM) May -5.5% +1.3%
14:30 U.S. Crude Oil Inventories - +2.9
23:50 Japan Retail sales, y/y May +5.8% +3.1%
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