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CFD Markets News and Forecasts — 08-08-2012
During the current session, the dollar showed mixed performance against other major currencies. The important news of the day, which influenced the course of trade, was the information that the rating agency Standard & Poor's revised its outlook on Greece to "negative" from "stable", stating that you may need further assistance from international lenders. But despite this, the long-term and short-term sovereign credit rating in foreign currency and local currency remained unchanged. Positive news of the day was the report, which states that labor productivity in the second quarter rose more than expected.
During the first half of the trading session, the euro declined against the dollar, and then was able to play more than half of the losses. In such a dynamic impact data on industrial production in Germany, which were far below expectations.
Pound at the beginning of the session fell sharply, but managed to recover from, updating the intraday high. Currency rose against the euro and U.S. dollar, when the governor of the Bank of England Governor Mervyn King signaled that the reduction in interest rates did not significantly alter the economic outlook. He also expressed less concern than expected on the market. King also warned that the drop in interest rates would be counterproductive, and it does not lead to significant improvement in the UK economy. Strengthening of the pound also contributed to less negative tone on inflation report, which notes that official data on the growth of gross domestic product exaggerate the underlying weakness of the economy.
The Canadian dollar has appreciated significantly during the day against the dollar, updating the at least three
European stocks were little changed as mining companies advanced, offsetting worse-than-estimated financial results from companies such as ING Groep NV (INGA) and Securitas (SECUB) AB.
ING, the largest Dutch financial-services company, lost 1.3 %. Securitas, the world’s second-biggest guarding-services company, sank 8.8 %. Swisscom (SCMN) AG slid after it lowered its full-year sales forecast. Bankia SA (BKIA) surged 24 %.
The Stoxx Europe 600 Index rose 0.1 % at 269.06 as of 4:30 p.m. in London,
National benchmark indexes fell in 13 of the 18 western European markets today.
FTSE 100 5,845.92 +4.68 +0.08% CAC 40 3,438.26 -15.02 -0.43% DAX 6,966.15 -1.80 -0.03%
The outlook on Greece’s CCC rating, already eight levels below investment grade, was revised to negative from stable, S&P said yesterday in a statement. The change reflects the risk of a downgrade if Greece is unable to obtain the next disbursement from the European Union and International Monetary Fund rescue package, the rating company said.
ING slipped 1.3 % to 5.68 euros after reporting second-quarter net income of 1.17 billion euros ($1.45 billion), missing analyst estimates of 1.26 billion euros.
Securitas tumbled 8.8 % to 49.85 kronor after second- quarter net income of 337 million kronor ($50 million) trailed the average analyst estimate of 422 million kronor.
Swisscom dropped 0.4 % to 392.60 Swiss francs after Switzerland’s largest phone company said it now sees revenue declining to 11.3 billion francs ($11.7 billion) this year, compared with a February prediction of 11.4 billion francs. Second-quarter net income fell to 468 million francs from 485 million francs a year earlier, the Bern-based company said.
Nokian Renkaat Oyj (NRE1V), the Nordic region’s largest tire maker, retreated 4.8 % to 31.11 euros after second-quarter sales of 413.8 million euros missed estimates of 416.3 million euros.
Kloeckner & Co. SE, Europe’s biggest independent steel trader, slumped 4.6 % to 7.14 euros after reporting its fourth consecutive quarterly loss and increasing job cuts as the region’s debt crisis weakened demand.
SAS Group, the Nordic region’s largest airline, slipped 1.7 % to 5.85 kronor after reporting second-quarter profit that missed analysts’ estimates as fuel costs increased and European economies weakened.
Bankia, the lender Spain nationalized in May, jumped 24 % to 1.27 euros. The shares have more than doubled since sliding to a record low on July 17.
As shown by the data of the government report, the demand for oil as a fuel for the first time has fallen over the past four weeks.
Department of Energy said today that the total demand for products fell by 1.1% to 18.9 million barrels a day in the week ended August 3, showing the first decline in this for the week ending July 6.
The report also stated that the level of stocks decreased by 3730000 barrels to the level of 369.9 million barrels for seven days (August 3). According to the average forecast from analysts, it was expected that the reduction will be only 1550000 barrels
Also on the rise in prices have affected published data on changes in the level of labor productivity in the nonfarm U.S. economy, which showed that labor productivity in the second quarter rose more than expected.
At the same time, the increase in oil prices was caused by fears that the tensions in the Middle East could cause a failure in supply.
The cost of the September futures on U.S. light crude oil WTI (Light Sweet Crude Oil) on the NYMEX rose to a high of $ 94.24 per barrel.
September futures price for North Sea Brent crude oil mixture increased to $ 112.86 a barrel on the ICE Futures Europe Exchange.
Gold prices fell slightly today, after significant growth over the past three days amid expectations that the central banks of Europe and the United States will start from a set of incentives to help strengthen their economic condition.
The debt crisis is increasingly threatening the economy as a unit, and may encourage the ECB to start a new round of its program to buy bonds in the near future. This will lead to the fact that gold will act as a hedge against inflation.
Also, the price of gold has influenced the information that the rating agency Standard & Poor's revised its outlook on Greece, stating that you may need further assistance from international lenders.
But despite the decline during the first half of the day, gold prices could recover from, updating the intraday high. At this growth influenced the weak data on industrial production in Germany, which were far below expectations.
The cost of the August gold futures on the COMEX today declined to 1603 dollars per ounce, then rose and is now trading at around 1612 dollars per ounce.
U.S. stock futures fell on disappointing corporate results and after Federal Reserve Bank of Dallas President Richard Fisher said adequate economic stimulus is in place.
Walt Disney Co. (DIS), the largest entertainment company, slid as revenue trailed estimates.
McDonald’s Corp. (MCD), the world’s largest restaurant chain, retreated as sales were unchanged worldwide in July.
Global Stocks:
Nikkei 8,881.16 +77.85 +0.88%
Hang Seng 20,065.52 -7.03 -0.04%
Shanghai Composite 2,160.99 +3.37 +0.16%
FTSE 5,810.57 -30.67 -0.53%
CAC 3,425.26 -28.02 -0.81%
DAX 6,909.3 -58.65 -0.84%
Crude oil $93.66 -0,01%
Gold $1611.70 -0.07%
Data
01:30 Australia Home Loans June -1.2% +2.1% +1.3%
05:00 Japan Eco Watchers Survey: Current July 43.8 44.5 44.2
05:00 Japan Eco Watchers Survey: Outlook July 45.7 44.9
05:45 Switzerland SECO Consumer Climate Quarter II -8 -4 -17
06:00 Germany Trade Balance June 15.0 14.9 16.2
06:00 Germany Current Account June 9.0 11.9 16.5
06:45 France Trade Balance, bln June -5.3 -5.1 -5.99
09:30 United Kingdom Bank of England Quarterly Inflation Report Quarter III
10:00 Germany Industrial Production s.a. (MoM) June +1.6% -0.7% -0.9%
10:00 Germany Industrial Production (YoY) June 0.0% +0.3% -0.3%
During the session, the euro exchange rate dropped after the published data showed that the level of German industrial production and exports declined, adding concern that that the sovereign debt crisis in Europe's largest economy is detrimental to the region.
The single currency currency fell against all 16 major currencies. As it became known, the level of German industrial production fell by 0.9% in June compared with May, while exports fell by 1.5%.
The pound rose against the dollar and euro after the Bank of England Governor Mervyn King said that the cuts in interest rates could be counterproductive.
At the same time, the yen rose against other major currencies.
EUR/USD: during the European session, the pair steadily declining and is now trading in the region of minimal values of 6 August
GBP/USD: a couple has more than one figure on the following retreat from the maximum values, and is now trading at $ 1.5630/40
USD/JPY: during the European session, the pair set a minimum near Y78.20, but then increased to a value of Y78.40
At 12:30 GMT the U.S. will publish the changes in the level of labor productivity in the non-productive sector for the 2nd quarter and the change in the level of labor costs for the 2nd quarter. At 14:30 GMT the U.S., there are data on stocks of crude oil from the Ministry of Energy in August. At 17:00 GMT the U.S. puts 10-year bonds. Data on employment and unemployment in New Zealand for the 2nd quarter will be released in 22:45 GMT. At 23:50 GMT Japan will publish data on the change in orders for machinery and equipment for June.
EUR/USD
Offers $1.2485, $1.2445, $1.2420, $1.2390,
Bids $1.2335/25, $1.2305/00
AUD/USD
Offers $1.0635/40, $1.0620, $1.0600, $1.0570/80
Bids $1.0520, $1.0500, $1.0480, $1.0450
EUR/JPY
Offers Y98.00, Y97.80, Y97.60, Y97.45/50, Y97.00
Bids Y96.50, Y96.20, Y96.00, Y95.80
USD/JPY
Offers Y79.25/30, Y79.00, Y78.80, Y78.65/70
Bids Y78.20/10, Y78.00
European indices were trading in the red zone. The reason for this lack of the expected measures to stimulate economic growth by the ECB and the Fed. As well as the uncertainty of the situation with the debt crisis in the eurozone, and the fate of Greece as a member.
International rating agency S & P lowered the August 7 forecast the economy of Greece from "stable" to "negative" (CCC). In 50% of the revised expectations of credit rating leads to a change in the indicator since it is believed that the debt of countries with such regtingom - illiquid toxic assets ..
Today at 13:00 Kyiv time data will be published by the level of industrial production in Germany.
At the moment:
FTSE 100 5,809 -32.24 -0.55%
CAC 40 3,424.82 -28.46 -0.82%
DAX 6,921.23 -46.72 -0.67%
EUR/USD $1.2300, $1.2320, $1.2400, $1.2410, $1.2475, $1.2495
USD/JPY Y78.50, Y78.80, Y79.00
GBP/USD $1.5600
EUR/GBP stg0.7800
USD/CHF Chf0.9705
AUD/USD $1.0515, $1.0500
Asian stocks rose, with the regional benchmark index trading near a three-month high, on speculation central banks from the U.S. to China will take steps to boost growth and after companies including Chimei Innolux Corp. beat estimates.
Nikkei 225 8,881.16 +77.85 +0.88%
S&P/ASX 200 4,312.56 +21.00 +0.49%
Shanghai Composite 2,160.99 +3.37 +0.16%
Kawasaki Kisen Kaisha Ltd. paced gains among Japanese shipping lines, rising 3.6 percent, before a report tomorrow expected to show inflation slowing in China, making room for policy easing in the world’s biggest commodities market.
Sumco Corp. and other chip-related companies advanced after Goldman Sachs Group Inc. boosted its outlook for the U.S. semiconductor industry.
Chimei Innolux gained 7 percent in Taiwan after the display maker reported a smaller-than-expected loss.
01:30 Australia Home Loans June -1.2% +2.1% +1.3%
05:00 Japan Eco Watchers Survey: Current July 43.8 44.5 44.2
05:00 Japan Eco Watchers Survey: Outlook July 45.7 44.9
The euro fell against the yen before data that economists said will show industrial production dropped in Germany, stoking concern Europe’s debt crisis is hurting the region’s biggest economy. German factory output, adjusted for seasonal swings and inflation, probably fell 0.8 percent in June from the previous month, when it gained 1.6 percent, according to median estimate of economists surveyed by Bloomberg News before the Economy Ministry in Berlin releases its figures today.
Standard & Poor’s revised the outlook on Greece’s sovereign rating to negative from stable and took CreditWatch action on four Spanish banks. The outlook on Greece’s CCC rating, already eight levels below investment grade, was revised to negative from stable, S&P said yesterday in a statement. The change reflects the risk of a downgrade if Greece is unable to obtain the next disbursement from the European Union and International Monetary Fund rescue package, the ratings company said.
Demand for the yen was limited as the Bank of Japan started a two-day policy meeting today amid speculation it may take steps to drive interest rates lower. The Bank of Japan (8301) board will leave unchanged its 45 trillion yen ($573 billion) asset-purchase fund and the benchmark rate target between zero and 0.1 percent, according to all 22 analysts in a Bloomberg survey.
EUR / USD: during the Asian session the pair was traded in range $1.2375-$1.2400.
GBP / USD: during the Asian session the pair was traded in range $1.5600-$1.5620.
USD / JPY: during the Asian session the pair dropped below Y78.50.
European data for Wednesday starts at 0600GMT with the German trade balance for June, which us expected to come in at a seasonally-adjusted reading of E14.5 billion. France data sees the 0630GMT release of the BdF business survey and 0645GMT release of
foreign trade data. European data rounds off at 1000GMT with Germany industrial output, which is expected to come in at -0.9% m/m, -0.1% y/y, while also in Europe on Wednesday, Germany re-opens its 10-year benchmark 1.75% July 2022 Bund issue for up to E4 billion. UK data is focused on the Bank of England Quarterly Inflation Report from 0930GMT, including the press conference with Bank of England
Governor Mervyn King.
The euro rose amid speculation that the European Central Bank is taking appropriate measures to quell the region’s debt crisis.
Euro gains were supported as the European Union said it had received no requests for the region’s rescue fund to buy government bonds. Norway’s krone climbed after manufacturing increased.
ECB President Mario Draghi outlined a plan last week under which the ECB may buy debt of struggling euro-bloc countries in tandem with the region’s bailout fund, while saying the details still need to be worked out over the coming weeks.
Canada’s dollar gained to a three- month high against its U.S. counterpart as risk appetite increased and crude oil, the nation’s biggest export, rose.
The currency strengthened beyond parity for a third day as a gauge of Canadian business spending rose more than forecast.Asian stocks rose, with the regional benchmark index headed for its highest close in three months, after Germany backed the European Central Bank’s bond-buying plan, boosting the outlook for Asia-Pacific exporters.
Esprit Holdings Ltd., a clothier that counts Europe as its largest market, gained 25 % in Hong Kong after it named a new chief executive officer.BHP Billiton Ltd., the world’s biggest miner, rose 0.5 % in Sydney after metal prices increased.
Toshiba Corp., which makes semi-conductors and parts for nuclear reactors, advanced 3.5 % in Tokyo as it was raised to outperform at CLSA Asia Pacific Markets.
Japanese utilities gained as they rebounded from last month’s plunge.
European stocks advanced for a third day amid gains by companies that reported better-than-expected earnings.
German factory orders declined more than twice as much as economists forecast in June as sales to euro-area countries slumped.
Italy’s economy contracted for a fourth straight quarter in the three months through June amid an intensifying euro-area debt crisis.
Xstrata added 1.6%. The mining company reported first-half net income of $1.94 billion, beating the average estimate of $1.49 billion in a survey of analysts.
Danske Bank rallied 6.7%. The lender said second-quarter profit surged to 1.5 billion kroner ($250 million), exceeding estimates.
InterContinental Hotels Group Plc (IHG) increased 6.4%. The world’s largest provider of hotel rooms reported a 6% gain in first-half profit and said it will return $1 billion to shareholders through a special dividend and share buyback.
U.S. stocks rose amid better-than-estimated corporate earnings and speculation global central banks will take steps to boost economic growth.
Most groups in the S&P 500 rose today as basic materials had the biggest gains.
Fossil surged 31 %, the most in the S&P 500, to $91.77. It forecast full-year profit excluding certain items of as much as $5.34 a share. Analysts projected $5.27.
MGM Resorts International rallied 7.5 % to $10.08. The largest casino operator on the Las Vegas Strip reported a smaller-than-anticipated loss in the second quarter amid lower winnings in Nevada. Sales (MGM) rose 29 %, boosted by inclusion of the company’s 51 % owned MGM China Holdings Ltd. subsidiary in the overall results for a full quarter, compared with one month a year earlier.
Sirius XM Radio Inc. (SIRI) climbed 4.6 % to $2.30. The largest U.S. satellite-radio company boosted its annual profit forecast after adding subscribers.
Change % Change Last
Oil $93.50 -0.17 -0.18%
Gold $1,614.60 +1.80 +0.11%
Change % Change Last
Nikkei 8,803.31 +77.02 +0.88%
Hang Seng 20,072.55 +73.83 +0.37%
Shanghai Composite 2,157.62 +2.70 +0.13%
FTSE 5,841.24 +32.47 +0.56%
CAC 3,453.28 +51.72 +1.52%
DAX 6,967.95 +49.23 +0.71%
S&P 1,401.35 +7.12 +0.51%
NASDAQ 3,015.86 +25.95 +0.87%
Dow 13,168.6 +51.09 +0.39%
(pare/closed(00:00 GMT +02:00)/change, %)
EUR/USD $1,2397 +0,01%
GBP/USD $1,5622 +0,15%
USD/CHF Chf0,9687 -0,02%
USD/JPY Y78,60 +0,45%
EUR/JPY Y97,43 +0,44%
GBP/JPY Y122,76 +0,58%
AUD/USD $1,0557 -0,05%
NZD/USD $0,8081 -1,44%
USD/CAD C$0,9968 -0,34%
01:30 Australia Home Loans June -1.2% +2.1% +1.3%
05:00 Japan Eco Watchers Survey: Current July 43.8 44.5
05:00 Japan Eco Watchers Survey: Outlook July 45.7
05:45 Switzerland SECO Consumer Climate Quarter II -8 -4
06:00 Germany Trade Balance June 15.0 14.9
06:00 Germany Current Account June 9.0 11.9
06:45 France Trade Balance, bln June -5.3 -5.1
09:30 United Kingdom Bank of England Quarterly Inflation Report Quarter III
10:00 Germany Industrial Production s.a. (MoM) June +1.6% -0.7%
10:00 Germany Industrial Production (YoY) June 0.0% +0.3%
12:30 U.S. Nonfarm Productivity, q/q (preliminary) Quarter II -0.9% +1.5%
14:30 U.S. Crude Oil Inventories - -6.5
22:45 New Zealand Unemployment Rate Quarter II 6.7% 6.5%
22:45 New Zealand Employment Change, q/q Quarter II +0.4% +0.4%
23:50 Japan Core Machinery Orders, y/y June +1.0%
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