Analytics, News, and Forecasts for CFD Markets: currency news — 27-11-2012.

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27.11.2012

19:20

American focus: dollar rose

The euro fell from the highest this month against the dollar on concern a deal for Greece to buy back its bonds may falter, holding up disbursements of bailout funds to the nation.

The dollar extended gains against major counterparts after consumer confidence rose to the highest in more than four years. Euro-area finance chiefs and the International Monetary Fund said they would cut Greece’s interest rates and give it more time to pay back rescue loans after the repurchase of government debt.

In the latest bid to keep the 17-nation euro intact, the lawmakers cut the rates on bailout loans, suspended interest payments for a decade, gave Greece more time to repay and engineered a Greek bond buyback. The country was also cleared to receive a 34.4 billion-euro ($44.7 billion) loan installment in December.

The U.S. currency will appreciate against all of its Group of 10 counterparts except the Canadian dollar by 2014, as America’s economy expands 2 percent, more than the 1.26 percent average. And as the U.S. economy shrugs off the fiscal cliff and outperforms the G-10 nations.

Lawmakers are trying to avert the fiscal cliff, a collection of $607 billion in automatic tax increases and spending cuts scheduled to take effect at the beginning of 2013 unless lawmakers take action, to prevent a short-term shock to the economy and reach an agreement on long-term deficit reduction.

Sterling strengthened after a report confirmed Britain’s economy exited a double-dip recession in the third quarter. The pound added 0.3 percent to 80.73 pence per euro. The U.K. currency was little changed at $1.6025 after rising to $1.6056, the highest since Nov. 2.

17:22

Fitch took a look at the Greek debt buyback, says is positive but risks remain

The agreement can help put Greece's sovereign debt on a sustainable path

Has yet to provide answers to key questions, the risk associated with the sale, a high

Forecasts suggest that the pact will help restore annual economic growth to 3% -3.5% by the end of the decade

Projections suggest that Greece will maintain a primary surplus of 4.5% of GDP in 2016

The agreement confirms that the Eurogroup still thinking to solve the Greek crisis, which will allow the country to remain in the eurozone

Questions remain regarding the implementation of the recapitalization of banks

Questions remain as to whether there will be enough to pour capital in order to ensure the viability of banks in the long term

It is not clear whether an agreement to increase the confidence of consumers and investors enough to halt the decline of the economy

16:00

GBP / USD The pound updated intraday low $ 1.6011 on data on consumer confidence in the U.S.

Strong results of the report on consumer confidence in the U.S. in November, and a surprisingly high figure provoked Richmond Fed dollar rally, in which the currency of all losses incurred earlier. GBP / USD slipped from 1.6050 level, reaching a low of 1.6011.

In November, consumer confidence in the U.S. reached 73.7 - the highest since February 2008 - vs. 73.0 and 72.2 the previous month. Richmond Fed index jumped from -7 to 9 against expectations of -2.

House price index fell from +0.7% to +0.2% vs. +0.4%. Housing prices S & P / Case-Shiller rose to 3.0% vs. 2.9% expected and revised from 2.0% to 0.8% of the previous value.