Analytics, News, and Forecasts for CFD Markets: currency news — 28-12-2012.

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28.12.2012

19:20

American focus: The dollar index touched a two-week high

The dollar index touched a two-week high, while the bidders follow the last-ditch attempt to prevent U.S. lawmakers' fiscal cliff. "

The dollar index ICE, tracks the greenback against a basket of six other major currencies, rose to 79.680 against 79.622 in late everoamerikanskoy Thursday session.

The dollar began to show growth due to the fact that investors think about is whether the U.S. government to reach an agreement on the prevention of automatic tax increases and spending cuts to the tune of several billion dollars. Legislators have only a few days to complete the negotiations.

U.S. President Barack Obama has asked congressional leaders to come to the White House on Friday for talks with a view to reaching agreement on the prevention of tax increases and spending cuts next year.

The euro fell against most of its 16 major counterparts after data showed that producer prices in Italy in November decreased by 0.1% compared with October, the decline has been observed for the third consecutive month. At the same time, the data on GDP growth in France in the 3rd quarter were revised by the National Bureau of Statistics on Friday to 0.1% from 0.2% previously announced due to reduction in investment.

Japanese Yen recovered against the U.S. dollar and the euro in low trading volume on Friday after Japanese Finance Minister Taro Aso said that Japan is not seeking a sharp decline in its national currency.

According to Aso, the U.S. government should work hard to achieve a strengthening of the dollar, while Japan is not seeking "a radical weakening of the yen." Such statements helped the yen to recover some lost ground against the dollar and the euro during the European session.

Earlier, the Japanese currency reached a 28-month low against the dollar and a 17-month low against the euro. The Japanese currency fell against major currencies after data earlier on Friday who reported that industrial production in Japan in November decreased by 1.7% compared to the previous month. This report was worse than expected. Meanwhile, data on consumer prices indicated that the country is still suffering from deflation.

16:01

U.S.: Crude Oil Inventories, -0.6

15:00

U.S.: Pending Home Sales (MoM) , November +1.7% (forecast -0.3%)

14:46

U.S.: Chicago Purchasing Managers' Index , December 51.6 (forecast 51.2)

13:45

Option expiries for today's 1400GMT cut

EUR/USD $1.3200, $1.3285, $1.3300

USD/JPY Y85.50

EUR/DKK Dkk7.4500

AUD/USD $1.0320, $1.0350, $1.0400

13:15

European session: the dollar rose sharply

Data

01:30 Japan Labor Cash Earnings, YoY November +0.2% -0.4% -1.1%

07:45 France Consumer spending November -0.2% 0.0% +0.2%

07:45 France Consumer spending, y/y November -0.5% -0.6% -0.2%

07:45 France GDP, q/q(finally)Quarter III +0.2% +0.2% +0.1%

07:45 France GDP, Y/Y(finally)Quarter III +0.2% +0.1% 0.0%

In today's trading the dollar has appreciated sharply against the euro, while showing the greatest growth this week, driven by speculation that U.S. lawmakers will not be able to avoid the so-called "financial cliff", which is reflected in higher taxes and spending cuts more than $ 600 billion

Meanwhile, the dollar index (DXY) rose to two-week high, as many market participants are waiting for a meeting of U.S. President Barack and the leaders of the Democratic and Republican parties, to be held today, and the purpose of which will be to address the situation.

The euro fell against all but two of the 16 major currencies, after the yield on Italian bonds maturing in November 2022 rose to the level of 4.48%, compared to 4.45% at the previous auction, while on bonds maturing in November 2017 rose to 3.26% from 3.23%. Well as the pressure on the currency has a report that showed that the French economy grew less than previously estimated.

The yen weakened to a 28-month low against the dollar after data showed that Japanese consumer prices and industrial production fell more than expected. At the same time, economists note that the weak economic reports increase the likelihood of increased stimulus measures by the central bank of the country.

Also today, JPMorgan Chase & Co. downgraded its forecast for the yen, saying the currency will fall to Y90 to the dollar in the second quarter of next year amid deteriorating trade surplus of Japan. Earlier, it was reported the fall of the yen to the level of Y83.

EUR / USD: during the European session, the pair fell to $ 1.3167, and is now trading at $ 1.3187

GBP / USD: during the European session the pair fell to $ 1.6076, but then recovered, setting all new session high.

USD / JPY: during the European session the pair fell to Y85.95, then increased and is now at around Y86.10

At 14:45 GMT the U.S. will index of business activity in the manufacturing sector according to the Chicago Association of Managers for December. At 15:00 GMT the United States will be published on the number of pending home sales for November. At 16:00 GMT the United States will report on oil reserves according to the Ministry of Energy.

13:00

Orders

EUR/USD

Offers $1.3295/310, $1.3280/85, $1.3195/205

Bids $1.3160/50, $1.3125/15, $1.3100, $1.3085/80, $1.3070/60

GBP/USD

Offers $1.6285/300, $1.6260, $1.6225/35, $1.6200/10, $1.6170/80, $1.6150/55, $1.6130/35

Bids $1.6085/75, $1.6050, $1.6010/00

AUD/USD

Offers $1.0510, $1.0500, $1.0480, $1.0450/55, $1.0420/30, $1.0400

Bids $1.0335/30, $1.0310/00, $1.0240/30

EUR/JPY

Offers Y115.50/60, Y115.10/15, Y115.00, Y114.80/85, Y114.15/20

Bids Y113.10/00, Y112.70/50, Y112.00, Y111.60/50

USD/JPY

Offers Y87.50, Y87.20/25, Y86.85/7.00, Y86.64

Bids Y85.60/50, Y85.30, Y85.10/00, Y84.85/80

EUR/GBP

Offers stg0.8280, stg0.8245/50, stg0.8200/05

Bids stg0.8185/80, stg0.8170/65, stg0.8150, stg0.8125/20, stg0.8115/10

10:20

Option expiries for today's 1400GMT cut

EUR/USD $1.3200, $1.3285, $1.3300

USD/JPY Y85.50

EUR/DKK Dkk7.4500

AUD/USD $1.0320, $1.0350, $1.0400

08:35

Forex: Thursday’s review

Yesterday the dollar erased losses against the euro after Senate Majority Leader Harry Reid said the U.S. may fall off the so-called fiscal cliff of tax increases and spending cuts that may tip the nation into recession. Reid said a resolution to the U.S. budget dispute before Jan. 1 appears unlikely because Republicans won’t cooperate.

President Barack Obama and U.S. Congress return to Washington to resume negotiations over the fiscal cliff of more than $600 billion in automatic tax increases and spending cuts set to take effect next month. Treasury Secretary Timothy F. Geithner said there’s “significant uncertainty” around tax and spending policies, according to a letter sent to congressional leaders.

The 17-nation euro climbed to an almost eight-month high earlier today after French consumer confidence unexpectedly improved and Italian business sentiment increased.

An index of French household sentiment rose to 86 in December from 84 in November, the first monthly increase since May, the national statistics office Insee said. Economists forecast an unchanged reading of 84. A gauge of Italian business climbed to 88.9 from 88.5, according to Rome-based national statistics institute Istat.

The yen reached a 28-month low against the dollar as John Taylor, founder and chairman of New York-based currency hedge fund FX Concepts LLC, said Japan’s currency may weaken to 90 per dollar for the first time since June 2010. The yen slumped after Prime Minister Shinzo Abe was approved as prime minister yesterday by parliament. His Liberal Democratic party won a landslide victory in lower house elections on Dec. 16, pledging to weaken the currency.