- Analytics
- News and Tools
- Market News
CFD Markets News and Forecasts — 03-12-2012
The euro rose to six-week high against the dollar, which was caused by information that Greece may hold an auction to buy back government securities in the amount of 10 billion euros ($ 13 billion). In connection with this concern that the debt crisis in the region is deteriorating slightly decreased.
The dollar index (DXY) dropped to one-month low amid tightening position among U.S. lawmakers about how to avoid the so-called "financial failure."
Also today, Credit Suisse Group AG said some customers that will introduce negative interest rates on cash balances in Swiss francs. Against this background rate EUR / CHF showed the biggest increase since September, and reached CHF1.2086.
At the same time, analysts say that the euro is likely to survive, because, despite the fact that Europe has a serious problem, more and more people are coming to the realization that these problems will continue to exist, though for a long time, but they are not fatal.
We also note that today the yield on 10-year Spanish bonds fell to 5.2%, the lowest level since March, while the yield of similar bonds in Italy dropped to 4.4%, which is the minimum value for the year.
Pound increased since released a report showed that the index of business activity in the manufacturing sector reached Britain climbed to 49.1 from 47.3, exceeding forecasts at 48.1.
Also this trend was due to the fact that market participants are waiting for the meeting of the Monetary Policy of the Bank of England, to be held this week. This interest is caused by the recent comments of the Bank of Mervyn King suggests that, in the coming months, the volume of purchases of government bonds can be increased.European stocks pared their advance as a report showed U.S. manufacturing unexpectedly contracted, offsetting two measures of Chinese factory output that rose.
Cable & Wireless Communications Plc (CWC) jumped 4.2 percent after agreeing to sell its Monaco and Islands unit to Bahrain Telecommunications Co. for $680 million. Colruyt SA (COLR) slid 2 percent after first-half earnings before interest and taxes missed analysts’ estimates.
The Stoxx Europe 600 Index advanced 0.1 percent to 276.07 at 4:13 p.m. in London. The gauge earlier climbed as much as 0.8 percent after Greece offered to spend 10 billion euros ($13 billion) buying back bonds.
Chancellor Angela Merkel opened the possibility that Germany will ultimately accept a write-off of Greek debt.
Merkel told Bild newspaper yesterday that euro-area leaders might consider writing off debt once the country has a budget surplus. The chancellor had ruled out such a scenario as violating European (SXXP) Union treaties.
European equities will rally in 2013 with the Euro Stoxx 50 Index reaching 3,000, according to Bank of America Corp. The price-to-earnings ratio for the gauge of the 50 biggest stocks in the euro area will climb to 11.8 by the end of next year, strategist John Bilton wrote in a note. The companies were valued at 11.1 times estimated earnings on Nov. 30, according to data compiled by Bloomberg.
National benchmark indexes gained in 11 of the 18 western- European markets.
Greece’s ASE jumped 1.3 percent, as Piraeus Bank SA (TPEIR) soared 11 percent to 38.9 euro cents and National Bank of Greece SA (ETE), the country’s biggest lender, rose 3.8 percent to 1.37 euros.
Today, throughout the day, oil prices could rise above $ 112 per barrel, which was caused by signs emerged that the economic growth in China, which is the second-largest oil consumer, is gaining momentum. According to the latest data, the activity in the manufacturing sector in China rose in November, which was the first time in seven quarterly economic slowdown. The value of this index was 50.5 in November, indicating expansion in the sector. Remember, this is the first time in 13 months, when the figure exceeded 50. After these data, investors will be focused on the information on industrial production in China, as well as trade data, which will be released later this month, and will help to obtain confirmation of the likelihood of further sustainable growth.
Also some support oil prices have data from the U.S., which showed that the purchasing managers' index for the manufacturing sector rose in November to 52.8 level, while continuing to increase its in positive territory.
Oil also helps increase the tense situation in the Middle East, which is expressed in the ongoing clashes between Israel and Hamas.
But, despite this, the concern about the budget deficit and talks about the upcoming "financial cliff", checked the growth of oil prices.
January futures price of U.S. light crude oil WTI (Light Sweet Crude Oil) fell to 89.21 dollars a barrel on the New York Mercantile Exchange.
January futures price of North Sea petroleum mix of mark Brent dropped 25 cents to 111.05 dollars a barrel on the London Stock Exchange ICE Futures Europe.
Today, gold prices slightly strengthened, driven by corresponding movement in the stock markets, and the growth of the euro. Such dynamics are manifested after the published Chinese data came out better than expected, and increased investor appetite for assets which are considered as high risk. According to recent studies that have been done, both official and private representatives of the country, the activity in the manufacturing sector of China unexpectedly increased.
Note also that the final data of the index of purchasing managers in the production of the eurozone also showed that the activity in November decreased more slowly.
The same time, the value of gold has an impact information from Greece, under which it became known about the details of its debt repayment country, which also helped boost demand for riskier assets.
Some analysts say the long and arduous negotiations could push investors to buy gold as a safe-haven. However, other analysts have warned that prolonged negotiations could harm the precious metals, which can be caused by a huge sale of stocks and commodities.
December futures price of gold on the COMEX is now 1716.30 an ounce.
Want inclusive approach to banking union
Unemployment remains "unacceptably high"
Low mortgage interest rates show the success of Fed policy
Monetary policy is not omnipotent
Mortgage terms blunts the effect of monetary policy
The Fed needs a normally functioning mortgage market
Sold E6.767bln vs target E5.8bln-E7.0bln
- E3.796bln 3-month BTF, avg yield -0.022% (-0.020%), cover 2.99 (2.72)
- E1.575bln 6-month BTF, avg yield -0.008% (-0.010%), cover 4.05 (3.69)
- E1.396bln 12-month BTF, avg yield 0.016% (0.019%), cover 3.59 (4.83)
Verizon (VZ) was upgraded from Neutral to Buy by Nomura
Intel (INTC) was reiterated at Neutral by Sterne Agee, target lowered from $19 to $18
EUR/USD $1.2900, $1.2950, $1.2960, $1.2985, $1.3100, $1.3145/50
USD/JPY Y81.50, Y82.00, Y82.10, Y82.25, Y82.60
EUR/GBP stg0.8030
AUD/USD $1.0435, $1.0450 $1.0475
08:15 Switzerland Retail Sales Y/Y October +5.4% +3.9% +2.7%
08:30 Switzerland Manufacturing PMI November 46.1 47.3 48.5
08:50 France Manufacturing PMI (finally) November 44.7 44.7 44.5
08:55 Germany Manufacturing PMI (finally) November 46.8 46.8 46.8
09:00 Eurozone Manufacturing PMI (finally) November 46.2 46.2 46.2
09:00 Eurozone Eurogroup Meetings -
09:30 United Kingdom Purchasing Manager Index Manufacturing November 47.3 48.1 49.1
The dollar fell to a six-week low against the euro as a measure of Chinese manufacturing increased, damping demand for the U.S. currency as a haven. China’s official Purchasing Managers’ Index in the manufacturing industry rose to 50.6 in November, the highest reading in seven months, the National Bureau of Statistics and China Federation of Logistics and Purchasing said on Dec. 1. A measure above 50 indicates expansion.
The euro rose versus all but one of its 16 major peers as Greece prepared to open bids to repurchase bonds issued earlier this year. With Greece preparing to open bids today to repurchase bonds issued earlier this year, German Chancellor Angela Merkel told Bild newspaper yesterday that euro leaders might consider writing off debt once the country has a budget surplus. Germany has until now ruled out such a scenario as violating European Union treaties. A buyback is crucial for Greece to receive more funding.
A final reading of a gauge of factory output in the euro region will confirm the index was at 46.2 last month, the median estimate of economists showed before Markit Economics releases the figures today. That would be in line with an initial reading published on Nov. 22 that showed a contraction for a 16th-straight month.
The Dollar Index sank to a one-month low before a report today that economists said will show manufacturing in the world’s biggest economy expanded at a slower pace in November. The Institute for Supply Management Inc.’s factory index, a gauge of manufacturing in the U.S., fell to 51.5 in November from 51.7 the prior month, according to median forecast of economists before today’s report. Fifty is the dividing line between expansion and contraction.
Australia’s currency fell to the least in a week as a report showed retail sales stagnated in October, adding to speculation the Reserve Bank will lower borrowing costs tomorrow.
Australia’s statistics bureau said retail sales were unchanged in October after climbing in the previous two months. The figure compares with economist predictions for a 0.4 percent advance. Interest-rate swaps data traders see a more than 90 percent chance RBA Governor Glenn Stevens will cut the cash rate target by 25 basis points, or 0.25 percentage point, to 3 percent tomorrow.
The British pound continues to strengthen after the index of business activity in the manufacturing sector registered a growth of the UK to 49.1, exceeding forecasts and the previous value. Pound to be an interesting week, given that the Bank of England will hold a meeting on monetary policy. Despite the fact that the market is waiting for the Central Bank left rates and the asset purchase program unchanged, recent comments of the Bank of Mervyn King suggests that, in the coming months, the volume of purchases of government bonds can be increased.
EUR / USD: during the European session, the pair has grown, setting all-time high at $ 1.3074
GBP / USD: during the European session, the pair rose to $ 1.6087
USD / JPY: during the European session, the pair has set high at Y81.99
In the U.S. at 14:00 GMT will index of business activity in the manufacturing sector in November, and at 15:00 GMT - ISM manufacturing index for November.
EUR/USD
Offers $1.3100, $1.3070, $1.3050
Bids $1.3005/990, $1.2950/40, $1.2920/15, $1.2905/00
GBP/USD
Offers $1.6215/20, $1.6175/80, $1.6140/50, $1.6120/25, $1.6070/75
Bids $1.6010/00, $1.5965/55, $1.5940-20
AUD/USD
Offers $1.0500, $1.0490, $1.0460, $1.0445/50
Bids $1.0405/00, $1.0355/50
USD/JPY
Offers Y83.00, Y82.75/80, Y82.60
Bids Y82.00, Y81.80, Y81.50
EUR/JPY
Offers Y108.50, Y108.00, Y107.65/70
Bids Y106.80, Y106.50, Y106.20/15, Y106.00
EUR/GBP
Offers stg0.8195/200, stg0.8150
Bids stg0.8065/60, stg0.8040/35, stg0.8025/20, stg0.8005/00
- Greek economy to contract by 4%-4.5% in 2013
- Greek unemployment to exceed 26% in 2013-14
- All of lost competitiveness regained by 2013
- Uncertainty on place in Eurozone must be ended
- Despite delays, greek reforms are progressing
Resistance 3: $1.6135 (Nov 2 high)
Resistance 2: $1.6110 (high of the American session on Nov 2)
Resistance 1: $1.6070 (session high)
Current price: $1.6059
Support 1: $1.6010 (Asia session low)
Support 2: $1.5985 (Nov 30 low)
Support 3: $1.5960 (Nov 28 low)
European stocks climbed, following their longest stretch of monthly gains in six years, as two measures of Chinese manufacturing increased and Greece offered to spend 10 billion euros ($13 billion) buying back bonds.
China’s official Purchasing Managers’ Index, a gauge of the manufacturing industry, rose to 50.6 in November, the highest reading in seven months, the National Bureau of Statistics and China Federation of Logistics and Purchasing said on Dec. 1. A reading above 50 indicates expansion.
A separate survey by HSBC Holdings Plc and Markit Economics, which focuses on smaller businesses, also showed that activity increased last month.
Chancellor Angela Merkel opened the possibility that Germany will ultimately accept a write-off of Greek debt. Policy makers will this week attempt to engineer a buyback that’s crucial for Greece to receive more funding.
Euro-area finance ministers meet in Brussels today as Greece starts repurchase debt. The offer period ends on Dec. 7, though it could re-open for one or two days, according to Kathimerini newspaper. Euro ministers will evaluate the results of the measure on Dec. 10, it reported.
CWC surged 6.9 percent to 37.1 pence for the biggest rally on the Stoxx 600. Bahrain Telecommunications, the state- controlled company known as Batelco (BATELCO), agreed to buy CWC’s Monaco and Islands unit for $680 million.
Colruyt lost 2.5 percent to 34.49 euros after posting first-half Ebit of 230.8 million euros. The average analyst estimate had called for earnings of 236.9 million euros. Exane BNP cut its share-price forecast by 3 percent to 31 euros.
Schroders Plc gained 3.4 percent to 1,650 pence. The shares of the asset management company were raised to buy from neutral at Bank of America Corp.
FTSE 100 5,883.35 +16.53 +0.28%
CAC 40 3,580.76 +23.48 +0.66%
DAX 7,438.98 +33.48 +0.45%
Germany sold E2.587bln 6-month Bubill at average yield -0.0168% (-0.0116%), cover 2.5 times (2.0) and E413bln or 13.8% held for secondary market operations vs 12% previously.
EUR/USD $1.3000, $1.2750
USD/JPY Y82.25
EUR/SEK Sek8.45
AUD/USD $1.0400, $1.0450, $1.0480, $1.0500
NZD/USD $0.8160
Asian stocks swung between gains and losses as Chinese manufacturing data added to signs of recovery while U.S. lawmakers continue to debate over a budget compromise to avert a so-called fiscal cliff.
Nikkei 225 9,458.18 +12.17 +0.13%
S&P/ASX 200 4,531.51 +25.47 +0.57%
Shanghai Composite 1,959.77 -20.35 -1.03%
Metallurgical Corp. of China, an engineering contractor and equipment manufacturer, climbed 4.4 percent in Hong Kong.
Shimizu Corp., a construction company, advanced 4 percent in Tokyo on speculation a deadly highway-tunnel collapse will reduce opposition to more public works spending.
Li & Fung Ltd., a supplier of toys and clothing to retailers including Wal-Mart Stores Inc., slipped 3 percent.
On Friday the euro rose to a more than one- month high against the dollar as German lawmakers approved Greece’s latest rescue package amid optimism U.S. politicians will agree on a new budget.
The euro gained versus most major peers as legislators in Germany’s lower house of parliament, or Bundestag, voted 473-100 to ratify an agreement forged among euro-area finance ministers on Nov. 27 to cut the rates on Greece’s bailout loans, suspend interest payments for a decade, give the country more time to repay and engineer a buyback of its bonds.
The yen slid to the weakest in seven months versus the shared currency after data showed Japan’s consumer prices stagnated in October, adding to speculation the central bank will increase stimulus to spur inflation.
The yen fell versus the majority of its 16 most-traded peers as Japan’s consumer prices excluding fresh food were unchanged in October from a year earlier after a 0.1 percent decline in September, the statistics bureau said in Tokyo. The BOJ has an annual inflation target of 1 percent.
The Japanese currency was set for its biggest monthly decline versus the euro since February as Japan opposition leader Shinzo Abe called for measures to boost inflation. The nation will hold elections on Dec. 16 for the lower house of parliament, which determines who will be prime minister.
Asian stocks rose, with the benchmark regional index heading for its second weekly advance, as Japan’s cabinet approved an economic stimulus package and the country’s industrial production unexpectedly increased.
Nikkei 225 9,446.01 +45.13 +0.48%
S&P/ASX 200 4,506.04 +28.31 +0.63%
Shanghai Composite 1,979.41 +15.92 +0.81%
Nissan Motor Co., which gets 79 percent of its sales outside Japan, gained 0.9 percent as the yen dropped to a seven- month low against the euro.
Rio Tinto Group rose 2.8 percent in Sydney as JPMorgan Chase & Co. said the mining company’s plan to cut costs by $5 billion may boost shareholder returns.
Mitsubishi Heavy Industries Ltd. and Hitachi Ltd. rose after agreeing to merge thermal-energy businesses.
European stocks posted their biggest weekly rally of the year as speculation rose that Congress will agree on a U.S. budget that avoids the so-called fiscal cliff and China’s manufacturing expanded.
Obama said at a press conference in Bangkok on Nov. 18 that he is “confident” of striking a deal over a new budget. House Speaker John Boehner, a Republican, said after the close of European trading on Nov. 16 that he held constructive talks with the president and would accept increased government revenue and spending cuts. Congress returns on Nov. 26 after the Thanksgiving recess.
Euro-area factory output contracted less than economists had estimated in November, a Markit Economics report on Nov. 22 showed. The index based on a purchase managers’ survey climbed to 46.2 from 45.4 in October, beating the average economist estimate of 45.6.
In Germany, the Ifo institute said its business climate index, based on a survey of 7,000 executives, increased to 101.4 from 100 in October, the first gain in eight months. Economists predicted a drop to 99.5, according to the median estimate of economists.
National benchmark indexes increased in all of the 18 western European markets this week, except Iceland. The U.K.’s FTSE 100 rose 3.8 percent, France’s CAC 40 added 5.6 percent and Germany’s DAX Index climbed 5.2 percent.
Nokia soared 31 percent, the biggest weekly gain since 1992. The Finnish mobile-phone maker said Nov. 19 it received reports that its Lumia 920 model had sold out in Germany. Danske Bank A/S analyst Ilkka Rauvola advised investors to buy the shares, saying in a note dated Nov. 22 that Nokia will sell 36 million smartphones that use Microsoft Corp.’s Windows software in 2013, higher than an earlier estimate of 23 million.
Alcatel-Lucent jumped 13 percent after people familiar with the matter said Nov. 22 the network equipment vendor is in talks with Goldman Sachs to get a loan to strengthen its balance sheet. Before this week, the company’s shares had declined 35 percent from the beginning of the year to trade near the lowest price since at least 1992.
Swiss Life Holding AG surged 15 percent, the largest increase since March 2009. Analysts estimated before its investor day on Nov. 28 that the life insurer may write down almost half the value of its German broker unit AWD Holding AG.
Fugro NV tumbled 12 percent after the world’s biggest surveyor of deepwater oilfields cut its full-year profit forecast and said Chairman Arnold Steenbakker will step down.
U.S. stocks were little changed, sending the Standard & Poor’s 500 Index to a second straight weekly gain, as investors weighed comments by lawmakers on budget talks.
President Barack Obama warned of “prolonged negotiations” ahead as congressional Republicans dug in on their opposition to his plan to avert the fiscal cliff. House Speaker John Boehner, an Ohio Republican, told reporters in Washington “right now we’re almost nowhere” on talks.
Yesterday, Speaker of the U.S. House John Boehner said that until there is significant progress in these negotiations, chided the Democrats is that they have yet to seriously come to the question of the real cost reductions.
Yesterday Obama gave little specific information on the negotiations, saying that he was in favor of a tax increase, which will increase budget revenues by $ 1.6 trillion, and the reduction of budget expenditures, including in the direction of health care, $ 400 billion There is no information, concessions to the Republicans can go, but the amount of tax revenue increase of $ 1.6 trillion they obviously do not like it.
Published statistics, in turn, was worse than expected. Americans spending unexpectedly fell in October by 0.2%, while revenues remained at the same level. The growth of the Chicago PMI was below economists' forecasts.
DOW index components were mixed. More than the others fell in the share price Microsoft (MSFT, -1.24%). Shares lead Wal-Mart (WMT, +1.68%).
Among the sectors of the S & P also is mixed dynamics. Maximum growth was utilities sector (+0.8%). More than other sector conglomerates decreased (-0.2%).
Shares of biotechnology company Enzon Pharmaceuticals jumped 7.9% to $ 6.98 on news of the payment of a special dividend of $ 2. The record date of December 10.
Shares developer Zynga virtual games fell 6.1% on news that the company has reduced the possibility of promoting your site on Facebook after a review of the contract with the latter. Facebook, in turn, will be able to develop your own game. Quotes of the last auction ended with a 2.5% increase.
At the close:
Dow 13,025.58 +3.76 +0.03%
Nasdaq 3,010.24 -1.79 -0.06%
S & P 500 1,416.18 +0.23 +0.02%
00:30 Australia Retail sales (MoM) November +0.5% +0.4% 0.0%
00:30 Australia Retail Sales Y/Y November +3.7%
00:30 Australia ANZ Job Advertisements (MoM) November -4.6% -2.8%
00:30 Australia Company Operating Profits Quarter III -0.7% -2.8% -2.9%
01:00 China Non-Manufacturing PMI November 55.5 55.6
01:45 China HSBC Manufacturing PMI (finally) November 50.4 50.4 50.5
04:00 Japan BOJ Governor Shirakawa Speaks -
05:30 Australia RBA Commodity prices, y/y November -16.0%
08:15 Switzerland Retail Sales Y/Y October +5.4% +3.9%
08:30 Switzerland Manufacturing PMI November 46.1 47.3
08:50 France Manufacturing PMI (finally) November 44.7 44.7
08:55 Germany Manufacturing PMI (finally) November 46.8 46.8
09:00 Eurozone Manufacturing PMI (finally) November 46.2 46.2
09:00 Eurozone Eurogroup Meetings -
09:30 United Kingdom Purchasing Manager Index Manufacturing November 47.5 48.1
14:00 U.S. Manufacturing PMI (finally) November 52.4 51.7
15:00 U.S. ISM Manufacturing November 51.7 51.5
15:00 U.S. Construction Spending, m/m October +0.6% +0.5%
© 2000-2025. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
