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CFD Markets News and Forecasts — 10-09-2012
The euro fell for the first time in four days against the dollar as Greece's coalition failed to reach an agreement on reducing the cost of 11.5 billion euros ($ 14.7 billion), while renewing fears that the debt crisis will continue to worsen.
The single currency fell against most of its 16 major counterparts ahead of the German decision on the rules of the country's participation in the fund saving Europe, which will be announced on September 12.
The Australian dollar fell after a report showed that Japan's economy expanded in the second quarter to two times less than originally expected, thus causing a decline in demand for riskier assets.
Greek Prime Minister Antonis Samaras to meet with officials from the euro zone, the European Central Bank and the International Monetary Fund today.
The leader of the Democratic Left Party leaders Fotis Kouvelis, whose party is one of three in the coalition government, said that no decision on the reduction of costs, and that the poorer Greeks must be protected against austerity measures. The three leaders agreed to meet again on September 12, two days before the euro zone ministers will gather in Cyprus to discuss the situation in Greece.
The dollar strengthened against most major currencies in anticipation of the report of the Ministry of Trade, which is expected to show that the U.S. trade deficit widened to $ 44.4 billion in July from $ 42.9 billion in June.
Pound halted a three-day decline against the euro amid concern that the debt crisis in the region will deteriorate, and by signs that the UK economy out of recession. Sterling rose against the euro today, even after a report showed that business confidence fell to a record low in August.
European stocks fell, after the region’s equities posted their largest weekly gain in three months, as China’s imports unexpectedly dropped, and Greece struggled to qualify for aid payments.
In China, inbound shipments declined 2.6 percent in August from a year earlier, the customs bureau said in Beijing today. That missed the median estimate of a 3.5 percent gain, according to economists. Imports rose 4.7 percent in July from a year earlier.
Industrial production in the world’s second-largest economy increased the least in three years last month, according to a report from the National Bureau of Statistics yesterday. Production increased 8.9 percent, compared with 9.2 percent in July. Greece’s Prime Minister, Antonis Samaras, meets with officials from the European Commission, the ECB and the International Monetary Fund today. He failed to obtain an agreement from his coalition partners on the spending cuts required to obtain further aid from the country’s bailout.
National benchmark indexes fell in 13 of the 18 western- European markets. The U.K.’s FTSE 100 and Germany’s DAX slipped less than 0.1 percent. France’s CAC 40 lost 0.4 percent.
A gauge of food and beverage stocks lost 1.2 percent for the biggest slide of the 19 industry groups on the Stoxx 600. Unilever slid 1.7 percent to 27.41 euros, while AB InBev sank 2.8 percent to 66.18 euros. Nestle SA, the world’s largest food company, declined 0.7 percent to 58.85 Swiss francs.
A gauge of mining shares posted the biggest gain on the Stoxx 600 as copper prices rose. Rio Tinto Group climbed 1.6 percent to 3,069 pence and Anglo American Plc added 1.5 percent to 2,001.5 pence.
Royal Philips Electronics NV, a maker of light bulbs, consumer electronics and health-care products, dropped 2.4 percent to 19.03 euros after Goldman Sachs Group Inc. cut its recommendation on the shares to neutral from buy. Credit Suisse Group AG also lowered its rating on Philips to neutral.
Oil fluctuated as Greece struggled to qualify for aid payments and amid speculation the Federal Reserve will announce measures to revive the economy this week.
Futures traded in a $1.26-a-barrel range in New York after Greek Prime Minister Antonis Samaras failed to secure agreement on spending cuts. Traders are focused on the Fed, which starts a two-day policy meeting on Sept. 12. The Fed has completed two rounds of asset purchases known as quantitative easing and may implement a third.
Oil for October delivery traded in a range $95.34 - $96,60 a barrel on the New York Mercantile Exchange. Prices are down 2.5 percent this year.
Brent for October settlement rose 66 cents, or 0.6 percent, to $114.91 a barrel on the London-based ICE Futures Europe exchange. The European benchmark was at a premium of $18.57 to New York-traded West Texas Intermediate crude, up from $17.83 on Sept. 7.
Gold prices traded with a slight change in the light of the fact that on Sunday, Athens could not agree with the "troika" of the creditors of all the measures and programs to reduce budget deficit, which is estimated at 11.5 billion euros.
The next meeting of the Prime Minister of Greece, Antonis Samaras with the "troika" of international lenders countries (European Commission, European Central Bank and International Monetary Fund) will be held on Monday.
In addition, investors are awaiting a decision of the Constitutional Court of Germany on the legality of a European stabilization fund, to be published on September 12. German court may block Germany's participation in the Stabilization Fund, from which depends heavily plan of redemption of bonds of the eurozone, released last week, the Central Bank of the currency bloc.
September futures price of gold on the COMEX is kept in the range of 1731.4 - 1733.5 per ounce.
EUR/USD $1.2760, $1.2750
USD/JPY Y78.50, Y78.75, Y79.20
EUR/JPY Y100.05
GBP/USD $1.5750
EUR/SEK Sek8.4745
AUD/USD $1.0400, $1.0340, $1.0300
U.S. stock futures declined as Greece struggled to qualify for aid payments, undermining confidence Europe’s debt crisis is being contained.
Global Stocks:
Nikkei 8,869.37 -2.28 -0.03%
Hang Seng 19,827.17 +25.01 +0.13%
Shanghai Composite 2,134.89 +7.13 +0.34%
FTSE 5,797.06 +2.26 +0.04%
CAC 3,504.93 -14.12 -0.40%
DAX 7,212.96 -1.54 -0.02%
Crude oil $96.32 -0,10%
Gold $1732.60 -0.45%
Kraft Foods upgraded to Outperform from Sector Perform at RBC Capital
Hewlett-Packard initiated with Neutral at Monness Crespi Hardt
Data
01:30 Australia Home Loans July +1.3% +0.1% -1.0%
03:00 China Trade Balance, bln August 25.1 19.7 26.7
05:00 Japan Consumer Confidence August 39.7 39.6 40.5
06:00 Japan Eco Watchers Survey: Current August 44.2 43.6 43.6
06:00 Japan Eco Watchers Survey: Outlook August 44.9 44.4 43.6
06:45 France Industrial Production, m/m July 0.0% -0.5% +0.2%
06:45 France Industrial Production, y/y July -2.3% -3.7% -3.1%
08:30 Eurozone Sentix Investor Confidence September -30.3 -29.6 -23.2
The euro fell for the first time in four days against the dollar as Greece's coalition failed to reach an agreement on reducing the cost of 11.5 billion euros ($ 14.7 billion), while renewing fears that the debt crisis will continue to worsen.
The single currency fell against most of its 16 major counterparts ahead of the German decision on the rules of the country's participation in the fund saving Europe, which will be announced on September 12.
The Australian dollar fell after a report showed that Japan's economy expanded in the second quarter to two times less than originally expected, thus causing a decline in demand for riskier assets.
Greek Prime Minister Antonis Samaras to meet with officials from the euro zone, the European Central Bank and the International Monetary Fund today.
The leader of the Democratic Left Party leaders Fotis Kouvelis, whose party is one of three in the coalition government, said that no decision on the reduction of costs, and that the poorer Greeks must be protected against austerity measures. The three leaders agreed to meet again on September 12, two days before the euro zone ministers will gather in Cyprus to discuss the situation in Greece.
The dollar strengthened against most major currencies in anticipation of the report of the Ministry of Trade, which is expected to show that the U.S. trade deficit widened to $ 44.4 billion in July from $ 42.9 billion in June.
Pound halted a three-day decline against the euro amid concern that the debt crisis in the region will deteriorate, and by signs that the UK economy out of recession. Sterling rose against the euro today, even after a report showed that business confidence fell to a record low in August.
EUR/USD: during the European session, the pair is trading slightly lower
GBP/USD: the pair grown, reaching a high of $ 1.6017, but then fell sharply, updating the minimum session
USD/JPY: the pair slightly rose by setting high at Y78.33, and then began a slight downward movement
At 23:01 GMT the UK will house price balance of RICS in August. At 23:50 GMT, Japan will issue BSI index of business conditions for large manufacturers and large enterprises in all sectors of the 3rd quarter.
EUR/USD
Offers $1.2850, $1.2835/40, $1.2820/25
Bids $1.2750, $1.2710/00, $1.2690
GBP/USD
Offers $1.6100, $1.6080, $1.6050/60
Bids $1.5970, $1.5950, $1.5930/20, $1.5905/00, $1.5880/70, $1.5850
AUD/USD
Offers $1.0450, $1.0420
Bids $1.0250, $1.0215, $1.0170
EUR/JPY
Offers Y100.60/70, Y100.50
Bids Y 99.80/70, Y 99.10/00, Y 98.80
USD/JPY
Offers Y79.50, Y78.50
Bids Y78.05/00, Y77.90, Y77.65
EUR/GBP
Offers stg0.8080, stg0.8050, stg0.8015/20
Bids stg0.7970, stg0.7945/40, stg0.7885/80
Began trading in different directions major European indexes amid weak sabyh statistics from Japan and China.
At the moment, Greece has not been able to agree on getting the next tranche of Finnish aid. Country has provided the Commission plans to reduce spending and the budget deficit by billions of euros, but the inspectors refused to take part of the plan, writes The Wall Street Journal.
Estimates of total sum of the programs vary in different editions from 11.5 billion to 13.5 billion euros. Implementation period - the next two years.
FTSE 100 5,794.67 -0.13 0.00%
CAC 40 3,521.02 +1.97 +0.06%
DAX 7,224.78 +10.28 +0.14%
Shares of Unilever NV and Anheuser-Busch InBev NV lost 1% Paper Glencore International Plc fell 0.8%. Quotes Xstrata Plc rose 3%. Deutsche Lufthansa AG gained 1.7% after it reached an agreement with the union.
EUR/USD $1.2760, $1.2750
USD/JPY Y78.50, Y78.75, Y79.20
EUR/JPY Y100.05
GBP/USD $1.5750
EUR/SEK Sek8.4745
AUD/USD $1.0400, $1.0340, $1.0300
Asian stocks swung between gains and losses as reports from the U.S., China and Japan that showed slowing growth in the world’s biggest economies stoked speculation central banks will add to stimulus measures.
Nikkei 225 8,869.37 -2.28 -0.03%
S&P/ASX 200 4,333.8 +7.96 +0.18%
Shanghai Composite 2,128.31 +0.55 +0.03%
Rio Tinto Group, the world’s third-biggest mining company, rose 4.1 percent in Sydney as copper rose for a second day.
Zoomlion Heavy Industry Science & Technology Co., China’s No. 2 maker of construction equipment, jumped 6.4 percent in Hong Kong after Chinese President Hu Jintao urged Asian governments to speed up infrastructure development.
Tokyo Electron Ltd., a maker chip production equipment, fell 3.5 percent in Tokyo after customer Intel Corp. cut its sales forecast.
01:30 Australia Home Loans July +1.3% +0.1% -1.0%
03:00 China Trade Balance, bln August 25.1 19.7 26.7
05:00 Japan Consumer Confidence August 39.7 39.6 40.5
06:00 Japan Eco Watchers Survey: Current August 44.2 43.6 43.6
06:00 Japan Eco Watchers Survey: Outlook August 44.9 44.4 43.6
The euro declined, snapping a three-day advance, amid renewed concerns about the region’s debt woes before Greece’s Prime Minister Antonis Samaras meets officials from the nation’s creditors. The common currency slid against most of its 16 major peers after Samaras failed to secure agreement from his coalition partners on 11.5 billion euros ($14.7 billion) of spending cuts required by lenders to his country. Samaras is due to meet officials from the euro area, the European Central Bank and International Monetary Fund today.
The Dollar Index (DXY) was 0.2 percent from a four-month low after a report last week showed U.S. jobs growth slowed, boosting speculation the Federal Reserve will undertake a third round of bond buying. Labor Department figures showed on Sept. 7 that nonfarm payrolls increased by 96,000 in August, down from a revised 141,000 the previous month. The unemployment rate was 8.1 percent, compared with 8.3 percent in July.
EUR/USD: during the Asian session the pair fell, retreating from Friday's high.
GBP/USD: during the Asian session the pair fell below $ 1.6000.
USD/JPY: during the Asian session, the pair traded in the range of Y78.15-25.
European data starts at 0630GMT with the France BoF business survey, followed at 0645GMT by France industrial output data. The final reading of Italian Q2 GDP data is due at 0800GMT. UK data sees the OECD Leading Indicator for September at 1000GMT. US data at 1900GMT sees July Consumer Credit and also August Treasury Allotments By Class data.
On Friday the dollar weakened to a three-month low against the euro as U.S. employers added fewer jobs in August than forecast, boosting speculation the Federal Reserve will increase its monetary stimulus.
The Dollar Index dropped to the weakest level since May 11 as the extra liquidity from a third round of asset purchases by the U.S. central bank, known as quantitative easing, may debase the currency.The Swiss franc fell to the weakest since January against the euro.
Asian stocks rose, with the regional benchmark index headed for its biggest gain since December as Europe’s plan to reduce borrowing costs, better-than-estimated U.S. jobs data and Chinese stimulus measures boosted the earnings outlook for Asian exporters.
Nikkei 225 8,871.65 +191.08 +2.20%
S&P/ASX 200 4,325.8 +12.91 +0.30%
Shanghai Composite 2,127.76 +75.84 +3.70%
Hutchison Whampoa Ltd., a retailer and port operator that gets 55 percent of its sales in Europe, rose 3.1 percent in Hong Kong.
China Resources Cement Holdings Ltd. jumped 12 percent in Hong Kong after the mainland government approved road projects.
Toyota Motor Corp., a carmaker that depends on North America for 25 percent of its sales, added 3.4 percent.
European stocks climbed, completing their biggest weekly rally in three months, on speculation that the Federal Reserve will opt for further stimulus after a report showed U.S. employers hired fewer workers than estimated.
The release also showed that the nation’s unemployment rate unexpectedly slipped to 8.1 percent. Economists had predicted a jobless rate of 8.3 percent, according to the median projection in a survey. Unemployment has stayed above 8 percent for the last 43 months.
National benchmark indexes climbed in every western- European (SXXP) market except Denmark today. The U.K.’s FTSE 100 added 0.3 percent, while Germany’s DAX advanced 0.7 percent. France’s CAC 40 rose 0.3 percent.
A gauge of banking shares advanced 2.1 percent to its highest level in five months. Deutsche Bank and Barclays surged 5.3 percent to 31.36 euros and 6.9 percent to 206.4 pence, respectively.
Santander SA, Spain’s biggest lender, climbed 1.7 percent to 6.08 euros, while BNP Paribas SA, France’s largest bank, added 1.7 percent to 37.78 euros. Credit Agricole SA and Societe Generale SA jumped 6.5 percent to 5.34 euros and 6.8 percent to 24.49 euros, respectively.
Xstrata gained 3.6 percent to 1,014 pence, while Glencore slumped 3.6 percent to 378.1 pence. The commodities trader, which owns 34 percent of Xstrata, offered 3.05 of its shares for every one that its target’s investors hold, according to a statement from Zug, Switzerland-based Xstrata.
U.S. stocks had no definite trend trading, consolidating after rising Thursday.
Support indices have expectations of market participants to the fact that the announcement yesterday by President ECB plan purchases of government bonds of European countries with debt problems, allow time for structural reforms to overcome the debt crisis. The advertised plan reduced the fears of worsening debt crisis in the region.
Constrain the growth index data on the U.S. labor market, which can be described as disappointing. Statistics recorded a decline in the unemployment rate to the level of 8.1% in August, compared with an expected value, and in July at 8.3%, but the number of new jobs in non-agricultural sectors of the U.S. economy was below the forecast (96 th vs. 121 thousand), and the average workweek fell to 34.4 hours. Average hourly earnings for August results did not change.
Despite the weaker data on the report payrolls, the market participants are not certain that before the U.S. presidential elections, the Fed will report on new measures to improve the employment situation.
In the composition of the index DOW company split between positive and otritsatenuyu territory. More than others in the share price rose Bank of America (BAC, +5.39%). More than others in the share price fell Kraft Foods (KFT, -5.48%).
Showed a mixed trend and key sectors. Sector has grown more than other basic materials (+2.1%). Below is the rest of the sector utilities (-0.4%).01:30 Australia Home Loans July +1.3% +0.1% -1.0%
03:00 China Trade Balance, bln August 25.1 19.7
05:00 Japan Eco Watchers Survey: Current August 44.2 43.6
05:00 Japan Eco Watchers Survey: Outlook August 44.9 44.4
05:00 Japan Consumer Confidence August 39.7 39.6
06:45 France Industrial Production, m/m July 0.0% -0.5%
06:45 France Industrial Production, y/y July -2.3% -3.7%
08:30 Eurozone Sentix Investor Confidence September -30.3 -29.6
19:00 U.S. Consumer confidence July 6.5 9.1
23:01 United Kingdom RICS House Price Balance August -24% -22%
23:50 Japan BSI Manufacturing Index Quarter III -5.7 -6.1
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