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Analytics, News, and Forecasts for CFD Markets: currency news — 28-11-2012.
The Dollar Index fell for the first time in three days as comments from U.S. lawmakers fueled optimism the so-called fiscal cliff will be avoided.
Equities reversed declines as Boehner, an Ohio Republican, said he is optimistic lawmakers engaged in budget talks can “avert this crisis sooner rather than later.” He made his remarks to reporters, while saying he continues to oppose the expiration of tax cuts for top earners and Democrats need to get “serious” on budget cuts. Obama said separately at the White House, “My hope is to get this done before Christmas.”
The yen rose to a one-week high against the dollar as technical indicators signaled its recent decline may have been excessive.
The euro pared losses against the greenback as stocks rebounded and amid speculation investors will accept Greece repurchasing its own bonds at below market prices. The euro pared losses as Greece said it would unveil plans next week to tender for bonds issued in its 100 billion-euro ($129 billion) restructuring this year. The prices are “expected to be no higher than those at the close” on Nov. 23, euro-area finance ministers said yesterday. Those notes trade at about 29.5 cents on the euro, up from 28.1 percent last week, according to brokerage Exotix Ltd. in London.
Again became a catalyst dollar fallen after the speech Republican Boehner, Fed's Evans, as well as the background of confidence in reaching an agreement on the issue of "financial cliff" in the near future, as President Obama "for Christmas."
Before the release of the report Beige Book pair is trading at $ 1.2935.
-- SFR Exchange Rate Is Still High
-- Rejects sovereign wealth fund to manage SNB FX reserves
-- Says need prudent provisioning policy to help capital base
-- Read full story on MNI Mainwire
Obama wants an agreement was reached before Christmas
Obama is ready to sign a bill that will free the middle class from tax increases
It is ready, willing and able to resolve fiscal problems
EUR/USD $1.2875, $1.2900, $1.2935, $1.2940, $1.2945, $1.3000, $1.2625-1.3160
USD/JPY Y81.50, Y81.55, Y82.00, Y82.25
AUD/USD $1.0450, $1.0340Data
00:30 Australia Construction Work Done Quarter III -0.2% +2.2% +1.7%
09:00 Eurozone M3 money supply, adjusted y/y October +3.0% +2.8% +3.9%
13:00 Germany CPI, m/m (preliminary) November 0.0% -0.1%
13:00 Germany CPI, y/y (preliminary) November +2.0% +1.9%
The yen rose to one-week high against the dollar, as U.S. lawmakers try to agree on a solution to the problem of so-called "financial cliff", the essence of which spending cuts and tax increases, increased demand for assets seekers.
Japan's currency has strengthened, at least 0.2% against all 16 major currencies, after the leader of the Democratic majority in the U.S. Senate, Harry Reid said, "disappointed" at the lack of progress in the negotiations on avoiding a "financial cliff" .
Euro was down against the yen ahead of a report on Germany, which showed that consumer prices fell in November by 0.1%, in line with forecasts of many economists. After the publication of these data fall accelerated. Also released today data on the euro area showed that the growth rate of the monetary aggregate M3, which the ECB uses as an indicator of future inflation, rose in October to a level of 3.8, compared with a revised downward estimates for the previous month at around 2 , 6%. At the same time, economists expect this figure to drop 2.8%.
The dollar index, which is used to track the dollar against the currencies of six U.S. partners, rose by 0.1% to 80.488, registering growth of the third session in a row.
EUR/USD: during the European session, the pair dropped sharply, setting all-time low of $ 1.2890, near which now trades
GBP/USD: during the European session the pair fell to $ 1.5965
USD/JPY: during the European session is around Y81.70-Y81.95
At 15:00 GMT the U.S. are data on the volume of sales in the primary market in October. At 15:30 GMT the U.S. will know about the level of crude oil from the Ministry of Energy in November. At 17:15 GMT in Switzerland of the Swiss National Bank Thomas Jordan make a speech. Finish the day at 23:50 GMT Japanese data on Retail Sales for October.
EUR/USD
Offers $1.3050, $1.3030, $1.3020, $1.3000, $1.2940-50
Bids $1.2910, $1.2890/80, $1.2860
GBP/USD
Offers $1.6140/50, $1.6125, $1.6075/85, $1.6060
Bids $1.6000, $1.5980, $1.5960/50, $1.5900
AUD/USD
Offers $1.0550, $1.0525, $1.0490
Bids $1.0420, $1.0400, $1.0355/50
EUR/JPY
Offers Y107.00, Y106.70/75, Y106.50, Y106.20
Bids Y105.20, Y105.05/00, Y104.80, Y104.50
USD/JPY
Offers Y82.70, Y82.60/65, Y82.50, Y82.40, Y82.00
Bids Y81.70, Y81.60/50, Y81.20, Y81.00
EUR/GBP
Offers stg0.8165, stg0.8115/20, stg0.8100/05
Bids stg0.8060, stg0.8040/35, stg0.8025/20, stg0.8005/00
EUR/USD $1.2875, $1.2900, $1.2935, $1.2940, $1.2945, $1.3000, $1.2625-1.3160
USD/JPY Y81.50, Y81.55, Y82.00, Y82.25
AUD/USD $1.0450, $1.0340
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.
00:30 Australia Construction Work Done Quarter III -0.2% +2.2% +1.7%
The yen rose against all of its 16 major peers as Asian stocks dropped and a struggle among U.S. lawmakers to reach budget consensus boosted demand for safe- haven assets. Japan’s currency advanced to a one-week high versus the dollar after Senate Majority Leader Harry Reid said he is “disappointed” in the lack of progress in discussions to avoid the so-called fiscal cliff. “We only have a couple weeks to get something done, so we have to get away from the happy talk” and do “specific things,” Reid told reporters yesterday. U.S. lawmakers are trying to avert a collection of $607 billion in automatic tax increases and spending cuts scheduled to take effect at the beginning of 2013 to prevent a short-term shock to the economy and reach an agreement on long-term deficit reduction.
Demand for the euro was limited amid signs the economic growth in Europe is faltering. In Germany, the region’s biggest economy, the unemployment rate probably held at 6.9 percent in November, according to the median estimate of economists surveyed by Bloomberg News before the data are released tomorrow. The rate was unchanged last month after climbing to 6.9 percent in September, matching the level in November 2011.
Official data in Italy on Nov. 30 may show the nation’s jobless rate rose to 10.9 percent in October, the highest on record in figures going back to 2004.
EUR/USD: during the Asian session, the pair fell to yesterday's lows.
GBP/USD: during the Asian session the pair fell to $ 1.6000.
USD/JPY: during the Asian session the pair fell by updating week's low.
ECB ready to undertake OMTs if country applies for program
ECB supervision operational in 2014, legal framework in place 2013
All EMU banks should be covered by single supervisor
(pare/closed(00:00 GMT +02:00)/change, %)
EUR/USD $1,2941 -0,23%
GBP/USD $1,6020 -0,03%
USD/CHF Chf0,9303 +0,27%
USD/JPY Y82,16 +0,10%
EUR/JPY Y106,31 -0,15%
GBP/JPY Y131,58 +0,05%
AUD/USD $1,0445 -0,18%
NZD/USD $0,8205 -0,15%
USD/CAD C$0,9944 +0,11%
00:30 Australia Construction Work Done Quarter III -0.2% +2.2% +1.7%
09:00 Eurozone M3 money supply, adjusted y/y October +3.0% +2.8%
13:00 Germany CPI, m/m (preliminary) November 0.0% -0.1%
13:00 Germany CPI, y/y (preliminary) November +2.0% +1.9%
15:00 U.S. New Home Sales October 389 387
15:30 U.S. Crude Oil Inventories - -1.5
17:15 Switzerland SNB Chairman Jordan Speaks -
17:15 U.S. FOMC Member Tarullo Speaks -
19:00 U.S. Fed's Beige Book November
23:50 Japan Retail sales, y/y October +0.4% -0.7%
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