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Analytics, News, and Forecasts for CFD Markets: currency news — 29-08-2012.
The dollar rose against most major traded currencies after data released showed that the level in the U.S. rose more than expected, and the number of pending home sales reached a two-year high.
The dollar strengthened against the euro and the yen, as investors' doubts that the Federal Reserve Chairman Ben Bernanke will hint at further easing in his speech at the conference on August 31.
The single currency has strengthened slightly after German Chancellor Angela Merkel said that the reforms in Italy will help reduce the interest the central bank.
The single currency has strengthened by 2.5% against the dollar since August 1, after European Central Bank President Mario Draghi said that the central bank can buy Spanish and Italian bonds to limit borrowing costs.
The Canadian dollar traded near a four-month high against the U.S. dollar on positive data from the U.S.. Gross domestic product grew by 1.7% between April and June, compared with the initial estimate of 1.5%. We also learned that the number of pending home sales increased in July by 2.4%, after falling 1.4% in June, and reached its highest level since April 2010. Economists had expected growth of approximately 1.0%. The index also rose by 12.4% compared to the same month last year.
The Australian dollar traded near-month low on concerns that a slowdown in global growth will impact on the economy.
Australian and New Zealand dollars were supported after the president of the European Union, Herman Van Rompuy said that the region's rescue fund ready to help Spanish banks. Strengthening was supported by increased demand for higher-yielding assets, as well as data that showed that the number of construction projects handed down by 0.2% in the second quarter, compared with a revised growth of 7.8% (originally reported increase of 5 5%) in the first three months of this year. Many analysts expect the figure rose 1.1%. Last fall was due to a decline of 1.9% in the private construction and 0.7% in the public construction. construction work completed fell by 0.2 percent in the three months to June, compared with a revised 7.8 percent increase in the first quarter.
EUR/USD $1.2490, $1.2500, $1.2505, $1.2525, $1.2625
USD/JPY Y78.15, Y79.10, Y79.15
EUR/GBP stg0.7900, stg0.7975
AUD/USD $1.0320, $1.0400, $1.0425, $1.0460
AUD/JPY Y82.50
Data
01:30 Australia Construction Work Done Quarter II +7.8% +1.1% -0.2%
07:00 Switzerland KOF Leading Indicator August 1.43 1.52 1.57
The euro traded near an eight-week high today against the dollar ahead of the meeting of Italian Prime Minister Mario Monti and German Chancellor Angela Merkel, who will be held today in Berlin, and at which they will discuss measures to prevent the debt crisis.
The single currency rose against the yen, as traders are waiting for the European Central Bank will set out details of its plan to buy government bonds.
The dollar index (DXY) was little changed before the publication of important data from the U.S. in terms of GDP and pending home sales.
The euro rose 2.7% against the dollar since August 1, after European Central Bank President Mario Draghi said that the central bank can buy Spanish and Italian bonds to reduce borrowing costs.
As markets are awaiting speech by Federal Reserve Chairman Ben Bernanke, who will give a speech 31 and is likely to shed light on the future of U.S. monetary policy.
Pound in mid-session trading reserved, but in the last hour has risen sharply against the dollar ahead of the release of the consumer price index in Germany. At the same time, the dollar has appreciated significantly against the euro.
EUR / USD: during the European session, the pair rose to a high of $ 1.2574, and then fell to the lowest level session
GBP / USD: pair rose sharply in the last hour, updating the yesterday's high
USD / JPY: the pair is trading in a narrow range at the maximum of the day
At 12:00 GMT Germany will preliminary index of consumer prices for August. At 12:30 GMT, Canada will report on the index of commodity prices for July. At the same time, the U.S. will publish data on GDP growth on the specified data for the second quarter, the GDP price index, the main index of personal consumption expenditures, the index of personal consumption expenditures in the second quarter. At 14:00 GMT the U.S. said the change in our pending home sales for July. At 14:30 GMT the U.S. will release data on stocks of crude oil from the Ministry of Energy in August. At 18:00 GMT the U.S. will publish economic survey of the Fed's regions "Beige Book." At 22:45 GMT New Zealand will report the relative change in the volume of building permits issued in July. At 23:50 GMT Japan are data on Retail Sales for July
EUR/USD
Offers $1.2650, $1.2610, $1.2600, $1.2590
Bids $1.2525/20, $1.2510/00, $1.2450
GBP/USD
Offers $1.5850/55
Bids $1.5795, $1.5780, $1.5750/40, $1.5720
AUD/USD
Offers $1.0470/80, $1.0450, $1.0420, $1.0400, $1.0390
Bids $1.0355/50, $1.0330, $1.0320
EUR/JPY
Offers Y99.80, Y99.50, Y99.20, Y99.00
Bids Y98.25/20, Y98.00, Y97.80, Y97.75/70, Y97.50
USD/JPY
Offers Y79.20, Y79.00, Y78.90, Y78.75/80
Bids Y78.30/25, Y77.90
EUR/USD $1.2490, $1.2500, $1.2505, $1.2525, $1.2625
USD/JPY Y78.15, Y79.10, Y79.15
EUR/GBP stg0.7900, stg0.7975
AUD/USD $1.0320, $1.0400, $1.0425, $1.0460
AUD/JPY Y82.50
01:30 Australia Construction Work Done Quarter II +7.8% +1.1% -0.2%
The euro was 0.3 percent from the highest level in eight weeks before Italy sells debt amid speculation the European Central Bank is preparing a bond-buying program that may cap borrowing costs for countries in the region. Italy is scheduled to sell six-month bills today and as much as 7.5 billion euros ($9.4 billion) in bonds tomorrow.
The 17-nation currency headed for gains versus most of its major counterparts this month after yields more than halved at an auction of Spanish bills yesterday. German Chancellor Angela Merkel will host Italian Prime Minister Mario Monti in Berlin today. ECB President Mario Draghi canceled his trip this week to the Federal Reserve’s annual symposium in Jackson Hole, Wyoming, to prepare for the Frankfurt-based bank’s next meeting.
The Australian dollar weakened after the statistics bureau said construction work completed in the three months through June fell 0.2 percent after climbing a revised 7.8 percent in the previous period.
EUR/USD: during the Asian session, the pair traded in the range of $1.2550-70.
GBP/USD: during the Asian session, the pair traded in the range of $1.5810-50.
USD/JPY: during the Asian session, the pair traded around Y78.50.
Wednesday sees the August flash HICP data from Germany. HICP inflation for July was revised down below 2%, the first time inflation has been below the ECB's 2% target for two years. At 1015GMT, German chancellor Angela Merkel and Italian Prime Minister Mario Monti are due to brief the press after a bi-lateral meeting, in Berlin. US data for Wednesday starts at 1100GMT with the weekly MBA Mortgage Application Index, which is followed at 1230GMT when secondquarter GDP is expected to be revised up to a 1.7% rate from the 1.5%advance estimate, with only minor revisions to the key categories. The chain price index is expected to be unrevised at a 1.6% rise. Further US data sees the 1400GMT release of NAR Pending Home Sales and the weekly EIA Crude Oil Stocks data at 1430GMT.
Yesterday the euro rose for the first time in three days against the dollar after the European Union President Herman Van Rompuy said that the rescue fund in the region ready for quick action to help Spanish banks. At the same time, the Prime Minister of Spain said that Spanish banks will need help in the amount of at least 100 billion euros on the most pressing problems.
The single currency rose from one-week low against the yen after European Central Bank President Mario Draghi has canceled his trip to the annual symposium in Jackson Hole. Also it was announced that Spain sold three-month and six-month treasury bills for a total of 3.607 billion euros against the planned 2.5-3.5 billion euro on speculation that the European Central Bank is preparing measures to combat the debt crisis.
The New Zealand dollar fell against most major currencies after the dairy exporter Fonterra Cooperative Group has cut its forecast for the payments to farmers.
The Australian dollar touched its lowest level in a month after data added concerns that global economic growth will weaken. Also, it was reported that new home sales in Australia fell in July for the first time in four months. But the loss of Australian and New Zealand dollar will likely be limited to speech Fed Chairman Ben Bernanke at a symposium in Jackson Hole.
Canada's dollar rose against its U.S. counterpart on the background of the situation with the supply of oil. Currency strengthened as oil reserves are projected to fall at a time when the tropical storm Isaac went to the Gulf of Mexico. As the situation exacerbated by the fire at the largest refinery in Venezuela. The Canadian dollar was up against the New Zealand dollar as the currency weakened on speculation that the Chinese economy might lapse.
The pound weakened against the euro for the first time in three days on speculation that falling house prices will push the economy deeper into recession, increasing the likelihood that the Bank of England will buy more assets to stimulate economic growth.
(pare/closed(00:00 GMT +02:00)/change, %)
EUR/USD $1,2563 +0,53%
GBP/USD $1,5818 +0,19%
USD/CHF Chf0,9557 -0,53%
USD/JPY Y78,54 -0,25%
EUR/JPY Y98,66 +0,25%
GBP/JPY Y124,20 -0,10%
AUD/USD $1,0363 +0,03%
NZD/USD $0,8042 -0,51%
USD/CAD C$0,9879 -0,25%
01:30 Australia Construction Work Done Quarter II +5.5% +1.1%
06:00 United Kingdom Nationwide house price index August -0.7% +0.2%
06:00 United Kingdom Nationwide house price index, y/y August -2.6% -2.2%
07:00 Switzerland KOF Leading Indicator August 1.43 1.52
12:00 Germany CPI, m/m (preliminary) August +0.4% +0.2%
12:00 Germany CPI, y/y (preliminary) August +1.7% +1.9%
12:30 U.S. GDP, q/q (revised) Quarter II +1.5% +1.7%
12:30 U.S. PCE price index, q/q Quarter II +1.5% +1.6%
12:30 U.S. PCE price index ex food, energy, q/q Quarter II +1.8% +1.8%
12:30 Canada Raw Material Price Index July -4.0% +2.3%
12:30 Canada Industrial product prices, m/m July -0.3% +0.5%
14:00 U.S. Pending Home Sales (MoM) July -1.4% +1.1%
14:30 U.S. Crude Oil Inventories - -5.4
18:00 U.S. Fed's Beige Book August
22:45 New Zealand Building Permits, m/m July +5.7% +3.0%
23:50 Japan Retail sales, y/y July +0.2% 0.0%
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