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Analytics, News, and Forecasts for CFD Markets: currency news — 30-05-2012.
The euro fell to the lowest level in almost two years against the dollar as Spain struggled to rescue its troubled banks, adding to signs the European debt crisis is spreading to the region’s larger economies. Spain’s 10-year bond yield rose as high as 6.70 percent, approaching the 7 percent level that led to bailouts in Greece, Ireland and Portugal, after central bank Governor Miguel Angel Fernandez Ordonez resigned a month early amid criticism over the nationalization of Bankia group.
The 17-nation currency slid for a seventh day versus the yen, the longest losing streak in four months, after Italy sold less than its maximum target at a debt auction.
The yen and dollar strengthened as investors sought safer assets after a European report showed economic confidence dropped more than economists estimated in May. The European Commission called for direct euro-bloc aid for troubled banks and touted a Europe-wide deposit-guarantee system and common bond issuance as antidotes to the debt crisis now threatening to overwhelm Spain.
EUR/USD $1.2450, $1.2475, $1.2500, $1.2600
USD/JPY Y79.50, Y80.00
EUR/JPY Y100.00
GBP/USD $1.5600, $1.5650, $1.5735
EUR/GBP stg0.8000
AUD/USD $0.9705, $0.9800
USD/CAD C$1.0200
Data:
07:00 Switzerland KOF Leading Indicator May 0.40 0.44 0.81
08:00 Eurozone M3 money supply, adjusted y/y April +3.2% +3.5% +2.5%
08:30 United Kingdom Net Lending to Individuals, bln April 1.4 1.2 1.1
08:30 United Kingdom Mortgage Approvals April 49.9 50.1 51.8
09:00 Eurozone Business climate indicator May -0.52 -0.67 -0.77
09:00 Eurozone Industrial confidence May -9.0 -10.2 -11.3
The euro fell as Spain struggled to rescue its troubled banks, adding to signs the European debt crisis is spreading to the region’s larger economies.
The common currency slid for a seventh day versus the yen, the longest losing streak in four months, after Italy sold less than its maximum target at a debt auction.
The yen and dollar strengthened as investors sought safer assets after a European report showed economic confidence dropped more than economists estimated in May.
Spain’s 10-year bond yield rose as high as 6.70%, approaching the 7% level that led to bailouts in Greece, Ireland and Portugal, after central bank Governor Miguel Angel Fernandez Ordonez resigned a month early amid criticism over the nationalization of Bankia group.
The euro dropped for a second day against the greenback as Spain backtracked on a plan to use government debt instead of cash to bail out the nation’s third-largest lender, while Prime Minister Mariano Rajoy struggles to shore up the nation’s lenders without overburdening public finances.
EUR/USD: the pair showed low in $1,2420 area.
GBP/USD: the pair showed low in $1,5550 area then receded.
USD/JPY: the pair fell in Y79.00 area.
EUR/USD
Offers $1.2580, $1.2550, $1.2510, $1.2485
Bids $1.2420, $1.2360/50
GBP/USD
Offers $1.5680, $1.5650, $1.5620/25, $1.5595/600
Bids $1.5550/40, $1.5520, $1.5500
AUD/USD
Offers $0.9950, $0.9920/25, $0.9895/00, $0.9875/80, $0.9850, $0.9800/05
Bids $0.9715/10, $0.9700, $0.9665/60, $0.9650
USD/JPY
Offers Y80.00, Y79.85, Y79.45/50, Y79.30
Bids Y79.00, Y78.80, Y78.50
EUR/JPY
Offers Y100.20/25, Y100.00, Y99.50, Y99.15/20, Y98.75/80
Bids Y98.00, Y97.70/65
EUR/GBP
Offers stg0.8075/80, stg0.8045/50, stg0.8015/20
Bids stg0.7965/60, stg0.7950, stg0.7935/30, stg0.7900
Resistance 3: Y80.15 (May 22 high)
Resistance 2: Y79.70/80 (resistance line from Apr 2, May 25 high)
Resistance 1: Y79.40 (resistance line from May 22)
Current price: Y79.05
Support 1: Y79.00 (session low, May 18 low)
Support 2: Y78.60 (МА (200) for Н1)
Support 3: Y78.20 (earlier resistance, area of highs of December and January)
Resistance 3: Chf0.9780 (high of 2011)
Resistance 2: Chf0.9700 (psychological level)
Resistance 1: Chf0.9670 (session high)
Current price: Chf0.9642
Support 1: Chf0.9620 (support line from May 21)
Support 2: Chf0.9590 (МА (100) for Н1)
Support 2: Chf0.9530 (area of May 24-28 lows, support line from May 1, МА (200) for Н1)
Resistance 3 : $1.5840 (area of May 18-22 highs)
Resistance 2 : $1.5720 (МА (200) for Н1, May 24, 28-29 highs)
Resistance 1 : $1.5660 (МА (100) for Н1)
Current price: $1.5569
Support 1 : $1.5550 (session low)
Support 2 : $1.5520 (support line from May’2010)
Support 3 : $1.5500 (psychological level)
Resistance 3 : $1.2600/20 (МА (200) for Н1, resistance line from May 1, May 28 high)
Resistance 2 : $1.2575 (May, 29th)
Resistance 1 : $1.2530 (МА (100) for Н1)
Current price: $1.2442
Support 1 : $1.2430 (session low)
Support 2 : $1.2400 (psychological level)
Support 3 : $1.2300 (psychological level)
Italy sold E2.341bln vs target E2.0bln-E2.75bln. Avg yield 6.03% (5.84%),cover 1.4 (1.48)
Italy sold E3.391bln vs target E2.5bln-E3.5bln. Avg yield 5.66% (4.86%),cover 1.35 (1.34)
EUR/USD $1.2450, $1.2475, $1.2500, $1.2600
USD/JPY Y79.50, Y80.00
EUR/JPY Y100.00
GBP/USD $1.5600, $1.5650, $1.5735
EUR/GBP stg0.8000
AUD/USD $0.9705, $0.9800
USD/CAD C$1.0200
Asian stocks fell, with the regional benchmark index headed for its biggest monthly drop since the 2008 financial crisis, as China damped optimism for large-scale stimulus, adding to global growth concerns after Spain’s credit rating was downgraded.
Nikkei 225 8,633.19 -23.89 -0.28%
S&P/ASX 200 4,094.2 -20.21 -0.49%
Shanghai Composite 2,381.26 -8.37 -0.35%
Samsung Electronics Co., an exporter of consumer electronics that gets 47 percent of its sales in Europe and China, lost 1 percent in Seoul.
Industrial & Commercial Bank of China Ltd. slid 2.1 percent.
Renesas Electronics Corp., the world’s biggest maker of microcontrollers for cars, surged 27 percent in Tokyo after short-selling of its shares was restricted.
Yesterday the euro fell to the lowest level since July 2010 against the dollar as investor concern about Spain’s ability to recapitalize troubled banks increased, boosting bets the union’s debt crisis is worsening.
The 17-nation currency dropped below $1.25 for the second time this month after Egan-Jones Ratings Co. reduced its credit rating for Spain to B from Bb-. The euro fell against most of its major counterparts as Spanish officials debated how to fund a recapitalization of the Bankia group.
The yen gained against the majority of its most-traded peers amid increased demand for haven assets.
The pound approached a three-and-a-half-year high against the euro amid the monetary union turmoil. It strengthened as much as 0.2 percent to 79.83 pence per euro after reaching 79.51 pence on May 16, the strongest level since November 2008. Sterling has appreciated 4.1 percent this year.
EUR/USD: yesterday the pair fell below $1.2500.
GBP/USD: yesterday the pair fell to Feb’s low.
USD/JPY: yesterday the pair traded in range Y79.35-Y79.60.
At 0800GMT, the ECB measure of M3 data for April is due, while at the same time, ECB Governing Council member Miguel Fernandez Ordonez is due to speak before a Senate Budget Committee, in Madrid. UK data at 0830GMT sees Bank of England data for lending to individuals. The monthly personal lending data keep painting the same picture of negligible levels of net unsecured borrowing.
Asian stocks rose amid speculation China will do more to boost growth in the world’s second-largest economy, tempering concern about Europe’s debt crisis.
Nikkei 225 8,657.08 +63.93 +0.74%
S&P/ASX 200 4,114.4 +46.37 +1.14%
Shanghai Composite 2,390.68 +29.31 +1.24%
Chinese automakers Geely Automobile Holdings Ltd. and Dongfeng Motor Group Co. rose at least 2.4 percent after BNP Paribas SA said they may benefit from government subsidies.
Komatsu Ltd., a Japanese construction machinery maker that gets 14 percent of sales from China, gained 3.2 percent.
Shui On Land Ltd. jumped 7 percent in Hong Kong after the developer controlled by billionaire Vincent Lo said it plans to spin off its Xintiandi entertainment complex unit.
European stocks advanced for the third time in four days as data showing the U.S. housing market is stabilizing outweighed a report that China has no intention of introducing large-scale stimulus.
Home values in 20 U.S. cities fell in the 12 months ended March at the slowest pace in more than a year. The S&P/Case- Shiller index of property values fell 2.6 percent from a year earlier after a 3.5 percent drop in February.
China has no intention of starting a large-scale economic stimulus program like it did during the global financial crisis, the official Xinhua News Agency said today.
National benchmark indexes rose in all of the 18 western European markets today, except Spain and Portugal. The U.K.’s FTSE 100 increased 0.7 percent, Germany’s DAX gained 1.2 percent and France’s CAC 40 advanced 1.4 percent. Spain’s IBEX 35 slid 2.3 percent to the lowest level in nine years.
CGGVeritas added 5.7 percent to 19.65 euros as UBS upgraded the shares to buy from neutral. That was the biggest jump this year.
Spanish lender Bankia sank 16 percent to 1.14 euros after dropping 13 percent yesterday. Banco Popular Espanol SA fell 3.3 percent to 1.66 euros, a fourth day of losses. Banco de Sabadell SA dropped 4.3 percent to 1.34 euros and Banco Bilbao Vizcaya Argentaria SA declined 2.6 percent to 4.64 euros.
Repsol sank 7.2 percent to 12.83 euros, the biggest drop since November 2008. The oil company said it will cut its dividend payout ratio to increase production outside Argentina after its YPF SA unit was seized.
Wolseley Plc retreated 1 percent to 2,277 pence as the world’s largest supplier of heating and plumbing products reported a decline in third-quarter revenue.
U.S. stocks rose, after the first weekly gain since April in the Standard & Poor’s 500 Index, as Greek opinion polls eased concern the country will leave the euro and data signaled the American housing market stabilized.
American equities joined a global rally. Greece’s New Democracy, which supports the austerity plan negotiated with international lenders, placed first in all six polls published on May 26 as campaigning continued for June’s election. The U.S. market was closed yesterday for a holiday. Home values in 20 U.S. cities fell in the 12 months ended March at the slowest pace in more than a year.
All 10 industries in the S&P 500 advanced as commodity and technology companies had the biggest gains.
Coal producers gained after Goldman Sachs Group Inc. raised its recommendation for the industry to attractive from neutral. Peabody Energy Corp., the largest U.S. coal producer, jumped 5.6 percent to $25.22 as Goldman recommended buying the shares. Consol Energy Inc. added 1.8 percent to $30.13.
Facebook lost 9.6 percent to $28.84. The company’s options trading began today. Facebook debuted on May 18 after underwriters sold shares at $38.
Vertex Pharmaceuticals Inc. tumbled 11 percent, the most since 2008, to $57.80. The company revised results reported three weeks ago from a study of two cystic fibrosis drugs, saying the combination showed less of a benefit.
Resistance 3: Y80.15 (May 22 high)
Resistance 2: Y79.80 (May 25 high)
Resistance 1: Y79.65 (May 29 high)
The current price: Y79.43
Support 1: Y79.20/30 (area of May 23-28 low)
Support 2: Y79.00 (May 18-21 low)
Support 3: Y78.70 (Feb 15 high)
Resistance 3: Chf0.9740 (Feb 16 high 2011)
Resistance 2: Chf0.9700 (psychological level)
Resistance 1: Chf0.9640 (session high)
The current price: Chf0.9631
Support 1: Chf0.9600 (session low)
Support 2: Chf0.9560 (May 29 low)
Support 3: Chf0.9525/30 (area of May 24-28 low)
Resistance 3 : $1.2620/25 (area of May 24-28 high)
Resistance 2 : $1.2575 (May 29 high)
Resistance 1 : $1.2510 (session high)
The current price: $1.2467
Support 1 : $1.2455 (session low, 111.8% FIBO $1.2824-$1.2495)
Support 2 : $1.2420 (123.6% FIBO $1.2824-$1.2495)
Support 3 : $1.2375 (138.2% FIBO $1.2824-$1.2495)
(pare/closed(00:00 GMT +02:00)/change, %)
EUR/USD $1,2486 -0,43%
GBP/USD $1,5634 -0,28%
USD/CHF Chf0,9616 +0,35%
USD/JPY Y79,52 +0,06%
EUR/JPY Y99,30 -0,35%
GBP/JPY Y124,33 -0,19%
AUD/USD $0,9834 -0,18%
NZD/USD $0,7615 0,00%
USD/CAD C$1,0229 -0,09%
01:30 Australia Retail sales (MoM) April +0.9% +0.2%
01:30 Australia Retail Sales Y/Y April +1.8%
04:00 Japan BOJ Governor Shirakawa Speaks -
07:00 Switzerland KOF Leading Indicator May 0.40 0.44
08:00 Eurozone M3 money supply, adjusted y/y April +3.2% +3.5%
08:30 United Kingdom Net Lending to Individuals, bln April 1.4 1.2
08:30 United Kingdom Mortgage Approvals April 49.9 50.1
09:00 Eurozone Business climate indicator May -0.52 -0.67
09:00 Eurozone Industrial confidence May -9.0 -10.2
12:30 Canada Raw Material Price Index April -1.6% +2.1%
12:30 Canada Industrial product prices, m/m April +0.2% +0.1%
14:00 U.S. Pending Home Sales (MoM) April +4.1% 0.0%
15:30 Eurozone ECB President Mario Draghi Speaks -
23:01 United Kingdom Gfk Consumer Confidence May -31 -32
23:50 Japan Industrial Production (MoM) (preliminary) April +1.3% +0.6%
23:50 Japan Industrial Production (YoY) (preliminary) April +14.2% +13.7%
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