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Analytics, News, and Forecasts for CFD Markets: currency news — 27-09-2012.
The euro strengthened against the dollar after Spain announced its fifth austerity package, stating that it will comply with the requirements of the European financial rescue to contain the debt crisis.
The single currency rose after it reached a two-week low against the dollar as European Commissioner for Economic and Monetary Affairs Olli Rehn said that the budget plan Spain "meets country-specific recommendations and even goes beyond them in some areas. " The dollar weakened against most currencies after the published data, which showed that the number of applications for unemployment benefits in the U.S. fell much more than expected. At the same time, for the first time in six days rose stocks pulling the rise in oil prices.
Finally, we note that an element that is now viewed as a positive, increases the likelihood that Spain will get its financial assistance.
The pound rose for the first time in four days against the dollar after a government report showed that the economy shrank less than previously estimated in the second quarter, adding optimism that the recession is waning.
Sterling rose to a three-week high against the euro after the Spanish protests were held yesterday in Madrid for an end to austerity measures. General strike in Greece yesterday attracted 35,000 protesters in central Athens. It is learned that the UK's gross domestic product fell by 0.4% in the second quarter, not 0.5% reported last month.
Canadian dollar ended a three-day losing streak against its U.S. counterpart, as the appetite for risky assets among investors has grown, after Spain submitted its budget for 2013.
The so-called loonie was also supported by the information that the Chinese government will implement stimulus measures to support their economies.
Yield on 10-year Spanish bonds fell by 13.2 pips. to 5.87%
EUR/USD $1.2820, $1.2850, $1.3000, $1.3085, $1.3100
USD/JPY Y77.50, Y78.00
GBP/USD $1.6150, $1.6155
EUR/GBP stg0.7955, stg0.8050
AUD/USD $1.0440, $1.0365
To create a bank union will take time
Central banks do not have to perform the tasks of fiscal policy
Trust - a key condition for a stable currency
It will be difficult to separate monetary policy and regulation
Ireland, Portugal and Spain have increased their competitiveness
The improvements are not that significant to restore confidence
Euro - a stable currency
Data
06:00 Germany Import prices August +0.7% +0.9% +1.3%
06:00 Germany Import prices Y/Y August +1.2% +2.7% 3.2%
07:55 Germany Unemployment Change September 9 10 9
07:55 Germany Unemployment Rate s.a. September 6.8% 6.8% 6.8%
08:00 Eurozone M3 money supply, adjusted y/y August +3.8% +3.3% +2.9%
08:30 United Kingdom Current account, bln Quarter II -11.2 -12.2 -15.4
08:30 United Kingdom GDP, q/q (finally) Quarter II -0.5% -0.5% -0.4%
08:30 United Kingdom GDP, y/y (finally) Quarter II -0.5% -0.5% -0.5%
09:00 Eurozone Business climate indicator September -1.21 -1.20 -1.34
09:00 Eurozone Industrial confidence September -15.3 -15.0 -16.1
During the European session, the euro fell against the dollar and the yen on expectations from the Spanish government announcement of the budget for 2013. The Spanish Government today presented a budget for 2013 and a package of structural reforms. These documents and the comments of Spanish leadership will enable the market to better assess the readiness and willingness of Spain to the treatment of sovereign support for the euro zone and mills, respectively, the ECB. Tomorrow will be published in Spain's credit rating rating agency Moody's, and the independent auditors will publish details of the stress test, which will show how much money (compared with a dedicated Spanish credit system support package of 100 billion euros) is required Spanish banks.
As for the regional statistics published disappointing sentiment indicators in the eurozone in September, but German reports on import prices and unemployment were better than expected.
British pound showed an increase against the U.S. dollar after the release of the unit of national reports. GDP for the 2nd quarter and the index of business investment in the same period exceeded expectations, but the balance of the current account deficit widening demonstrated contrary to the expectations of its restriction. In addition, a representative of the Bank of England, Fisher said that the result of the GDP for the third quarter. is strong and inflation is currently higher than projected levels due to high energy prices.
EUR / USD: the pair decreased to $ 1.2844
GBP / USD: the pair rose to $ 1.6218
USD / JPY: the pair is trading in a narrow range with a downward trend
U.S. 12:30 GMT publish the change in orders for durable goods, including excluding transportation equipment in August, the number of initial claims for unemployment insurance, the number of repeated applications for unemployment benefits, the final data on GDP growth, GDP price index, the main index of personal consumption expenditures, index of personal consumption expenditures in Q2, 14 : 00 GMT - volume change pending home sales for August. At 22:45 GMT New Zealand will report on changes in the volume of building permits issued in August. At 23:01 GMT the UK will display GfK consumer confidence for September. 23:30 GMT Japan will publish the change in volume level of household spending for August, the consumer price index in Tokyo, including excluding prices for fresh food for September, the consumer price index excluding prices for food and energy, consumer price index, consumer price index excluding prices for fresh food, the consumer price index excluding prices for food and energy prices in August , at 23:50 GMT - preliminary data on industrial production for August.
EUR/USD
Offers $1.3020, $1.2990/300, $1.2970/75, $1.2930, $1.2910
Bids $1.2835, $1.2800
GBP/USD
Offers $1.6380, $1.6350, $1.6330/40, $1.6310, $1.6295-300
Bids $1.6150, $1.6120, $1.6085/80, $1.6060/50
AUD/USD
Offers $1.0520, $1.0490/00, $1.0470/75, $1.0456, $1.0450, $1.0430
Bids $1.0370, $1.0350, $1.0330
EUR/GBP
Offers stg0.8045/50, stg0.8015
Bids stg0.7885/80, stg0.7860/50, stg0.7810/00
USD/JPY
Offers Y78.45/50, Y78.40, Y78.20, Y78.00
Bids Y77.50, Y77.40/35, Y77.00
EUR/JPY
Offers Y101.50, Y101.20, Y101.00, , Y100.25/30
Bids Y99.55/50, Y99.20, Y99.00, Y98.80
Italy sold E1.0bln CCTeu vs Target E0.5-E1.0bln
- E1.0bln of June 2017 CCTeu; avg yeild 4.56% (5.33%), cover 2.18 (2.42)
Italy sold E2.927bln 10Y BTP vs Target E2-E3.0bln
- E2.927bln of 5.50% Nov 2022 BTP; avg yeild 5.24% (5.82%), cover 1.33 (1.42)
Italy sold E2.718bln 5Y BTP vs Target E2-E3.0bln
- E2.718bln of 4.75% Jun 2017 BTP; avg yeild 4.09% (4.73%), cover 1.38 (1.46)
EUR/USD $1.2820, $1.2850, $1.3000, $1.3085, $1.3100
USD/JPY Y77.50, Y78.00
GBP/USD $1.6150, $1.6155
EUR/GBP stg0.7955, stg0.8050
AUD/USD $1.0440, $1.0365
01:00 New Zealand NBNZ Business Confidence August 19.5 17.0
The dollar declined against most of its major counterparts as Asian stocks extended gains, reducing demand for haven assets. The greenback weakened against the Australian dollar after China’s central bank pumped a record amount of money into the financial system this week, spurring speculation the nation will act to support growth. The People’s Bank of China injected a net 365 billion yuan ($57.9 billion) via reverse-repurchase operations and bill redemptions this week, the most since Bloomberg started compiling the data in 2008, compared with 101 billion yuan last week. The monetary authority offered 130 billion yuan of 28-day reverse repo agreements and 50 billion yuan of 14-day contracts today, according to a statement.
Demand for the euro was limited before Spanish Prime Minister Mariano Rajoy submits a fifth package of budget cuts as demonstrators gathered in Madrid yesterday. Gains in the euro were limited after Spanish bonds dropped yesterday, sending the yields on 10-year securities above 6 percent for the first time since Sept. 18. Catalan President Artur Mas called early elections for Nov. 25, as Rajoy struggles to gain acceptance for austerity measures and faces criticism from European leaders for delaying a decision on an international bailout for the nation.
EUR / USD: during the Asian session, the pair restored to $1.2900.
GBP / USD: during the Asian session, the pair rose to $1.6200.
USD / JPY: during the Asian session, the pair traded in the range of Y77.60-75.
A heavy calendar Thursday gets underway at 0600GMT, with the release of the German August ILO employment change, followed at 0700GMT with the release of the Spanish Aug retail sales numbers. At 0755GMT, further German Sep unemployment data is released, followed at 0800GMT with the release of August M3 data from the ECB and the Italian August business survey. Back on the Continent, at 0900GMT, the EMU Sep economic sentiment and the EMU Sep business climate indicators are released. UK data is expected at 0830GMT, with the release of the UK's revised Q2 GDP data.
Yesterday 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.
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 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%.
(pare/closed(00:00 GMT +02:00)/change, %)
EUR/USD $1,2873 -0,23%
GBP/USD $1,6167 -0,17%
USD/CHF Chf0,9392 +0,18%
USD/JPY Y77,72 -0,10%
EUR/JPY Y100,06 -0,33%
GBP/JPY Y125,65 -0,25%
AUD/USD $1,0372 -0,13%
NZD/USD $0,8242 +0,34%
USD/CAD C$0,9847 +0,47%
01:00 New Zealand NBNZ Business Confidence August 19.5
06:00 United Kingdom Nationwide house price index September +1.3% +0.2%
06:00 United Kingdom Nationwide house price index, y/y September -0.7% -0.6%
06:00 Germany Import prices August +0.7% +0.9%
06:00 Germany Import prices Y/Y August +1.2% +2.7%
07:55 Germany Unemployment Change September 9 10
07:55 Germany Unemployment Rate s.a. September 6.8% 6.8%
08:00 Eurozone M3 money supply, adjusted y/y August +3.8% +3.3%
08:30 United Kingdom Current account, bln Quarter II -11.2 -12.2
08:30 United Kingdom GDP, q/q (finally) Quarter II -0.5% -0.5%
08:30 United Kingdom GDP, y/y (finally) Quarter II -0.5% -0.5%
09:00 Eurozone Business climate indicator September -1.21 -1.20
09:00 Eurozone Industrial confidence September -15.3 -15.0
12:30 U.S. Durable Goods Orders August +4.2% -4.3%
12:30 U.S. Durable Goods Orders ex Transportation August -0.4% +0.2%
12:30 U.S. Durable goods orders ex defense August -3.4% +0.7%
12:30 U.S. Initial Jobless Claims - 382 378
12:30 U.S. GDP, q/q (finally) Quarter II +1.7% +1.7%
12:30 U.S. PCE price index ex food, energy, q/q Quarter II +1.7% +1.7%
14:00 U.S. Pending Home Sales (MoM) August +2.4% -0.7%
22:45 New Zealand Building Permits, m/m August +2.0% +3.0%
23:01 United Kingdom Gfk Consumer Confidence September -29 -27
23:15 Japan Manufacturing PMI September 47.7
23:30 Japan Household spending Y/Y August +1.7% +1.1%
23:30 Japan Unemployment Rate August 4.3% 4.3%
23:30 Japan National Consumer Price Index, y/y August -0.4% -0.5%
23:30 Japan National CPI Ex-Fresh Food, y/y August -0.3% -0.3%
23:30 Japan Tokyo Consumer Price Index, y/y September -0.7% -0.6%
23:30 Japan Tokyo CPI ex Fresh Food, y/y September -0.5% -0.3%
23:50 Japan Industrial Production (MoM) (preliminary) August -1.0% -0.4%
23:50 Japan Industrial Production (YoY) (preliminary) August -0.8% -3.4%
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