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CFD Markets News and Forecasts — 11-12-2012
The euro strengthened for a second day against the dollar after a German report showed investor confidence jumped this month. The 17-nation currency rose versus all except two of its 16 major counterparts.
Spain sold a combined 3.89 billion euros of 12- and 18- month bills, the central bank said. That compared with its maximum target of 3.5 billion euros. It sold the 12-month securities at an average yield of 2.556 percent, compared with 2.797 percent on Nov. 20.
The ZEW Center for European Economic Research in Mannheim said its index of German investor and analyst expectations climbed to 6.9 this month from minus 15.7 in November. Economists forecast a gain to minus 11.5, according to a survey.
The Dollar Index fell the most in a week as 48 of 49 economists in a survey expect the Federal Reserve will expand its bond buying program at a two-day meeting starting today. The Dollar Index, which tracks the greenback versus the currencies of six U.S. trading partners, fell 0.3 percent to 80.103, the biggest drop since Dec. 4.
The dollar fell against most of its major peers before the Federal Open Market Committee begins its last meeting for 2012 today. The central bank will increase accommodation by announcing $45 billion in monthly Treasury buying in addition to the existing program of $40 billion a month of mortgage-backed securities, according to a Bloomberg survey of economists. That will push its balance sheet almost to $4 trillion.
The Swiss franc fell against the euro as UBS AG joined Credit Suisse Group AG in saying it will charge bank clients for deposits made in the currency. UBS, Switzerland’s biggest bank, said it will start charging financial institutional clients for cash balances held in francs from Dec. 21. The amounts will be communicated individually to clients within days the bank said, adding that “we encourage our customers to keep their Swiss franc balances as low as possible.” The franc dropped last week as Credit Suisse was said to set a negative rate of as much as minus 1 percent on balances held in the currency.
The U.S. recession may require response from monetary policy in Canada
According to forecasts, the budget break in the U.S. will avoid
If the budget can not avoid failure, the U.S. expects recession
Housing prices in some cities are too high
The global financial system is more secure, but security should be even higher
European stocks closed little changed at an eight-month high amid speculation that the Federal Reserve will expand its asset purchases to provide economic stimulus and a report that showed German investor confidence increased in December.
The ZEW Center for European Economic Research in Mannheim said its index of investor and analyst expectations, which aims to predict economic developments six months in advance, climbed to 6.9 this month from minus 15.7 in November. Economists had forecast a gain to minus 11.5, according to the median of 38 estimates in a Bloomberg News survey.
In the U.S., Fed rate setters begin a two-day meeting today. The officials will consider whether to supplement $40 billion a month of mortgage-bond purchases with Treasury purchases when their Operation Twist program expires at the end of this month. They will also issue updated projections on economic growth, unemployment and inflation on Dec. 12.
FTSE 100 5,924.97 +3.34 +0.06%, CAC 40 3,646.15 +34.05 +0.94%, DAX 7,589.75 +58.83 +0.78%
ThyssenKrupp rallied 5.6 percent to 17.18 euros. Germany’s largest steelmaker said it will sell its Steel Americas business by the end of next year. Chief Financial Officer Guido Kerkhoff said that more than five bidders have expressed an interest in either or both of the plants in Alabama and Rio de Janeiro state. The shares earlier dropped as much as 3.4 percent after the company said that it won’t pay an annual dividend after reporting a second straight yearly loss, including a 3.6 billion-euro ($4.7 billion) writedown for the Steel Americas unit.
Diageo dropped 1.6 percent to 1,855.5 pence after saying it ended talks with JB y Cia. SA de C.V. and Lanceros S.A. de C.V. over its plan to buy Jose Cuervo. The London-based distiller will also end an agreement to distribute the tequila brand outside Mexico when it expires at the end of June next year.
Shares of the Belgian financial group KBC fell in price by 4.8%. KBC raised EUR 1.25 billion from the offering, selling 58.8 million securities at 21.25 euros per share, which represents a 9.5 percent discount to their value at the close of the market on Monday.
The EUR / USD rose to 1.3007, which has met strong resistance - MA (200) for H1. In the U.S. session, the pair kept in 1.3000, while failing to overcome this level. Investors are still waiting for any progress in negotiations on the "financial cliff" in the U.S. and future decisions on monetary policy the Fed.
Oil fluctuated as German investor confidence jumped to a seven-month high in December and as OPEC members gathered in Vienna to discuss output levels.
Prices swung between gains and losses as confidence in Germany, the biggest oil user in the European Union, increased more than economists forecast on speculation the economy will gather momentum next year. The Organization of Petroleum Exporting Countries will probably leave its production quota unchanged when it meets tomorrow.
The ZEW Center for European Economic Research in Mannheim said its index of investor and analyst expectations, which aims to predict economic developments six months in advance, climbed to 6.9 from minus 15.7 in November. Economists predicted a gain to minus 11.5, according to the median estimates.
OPEC crude output tumbled to the lowest level in 11 months in November as Saudi Arabia, the group’s biggest producer, pumped the least in 13 months, according to revised data in an e-mailed report from the group.
Crude for January delivery rose to $86.37 a barrel on the New York Mercantile Exchange.
Brent for January settlement on the London-based ICE Futures Europe exchange gained 42 cents, or 0.4 percent, to $107.75 a barrel.
Gold prices are falling, but investors are waiting for growth when the Federal Reserve will announce new stimulus measures. Such actions are positive for gold, as increased demand for it among investors worried about the protection of their savings in times of loose monetary policy. However, before the announcement of the Fed buying of gold is likely to be limited.
In addition, the increase in metal prices while retaining tension in the eurozone. In particular, the concern is the political crisis in Italy, which may impede the implementation of measures to tackle the debt crisis. Recall that on Saturday, the Italian Prime Minister Mario Monti announced that, following the adoption of the budget for 2013. intends to leave the post. Investors fear that the departure of Mario Monti will open the way Silvio Berlusconi, who last week announced that it will once again compete for power.
Meanwhile, on Monday called on the M.Monti trading on stock exchanges without unduly dramatize his departure. In particular, the head of the Italian cabinet said that he saw the conditions under which the country would form a political vacuum because of the departure of his plans to the government.
Stocks of gold-ETFs on Monday declined to 76.177 million ounces, previously reached a record volume.
February futures price of gold on COMEX today fell to 1706.00 dollars per ounce.
U.S. stock futures rose after German investor confidence climbed and traders awaited progress on federal budget talks in Washington.
Global Stocks:
Nikkei 9,525.32 -8.43 -0.09%
Hang Seng 22,323.94 +47.22 +0.21%
Shanghai Composite 2,074.7 -9.07 -0.44%
FTSE 5,925.24 +3.61 +0.06%
CAC 3,640.2 +28.10 +0.78%
DAX 7,572.39 +41.47 +0.55%
Crude oil $85.84 +0.33%
Gold $1714.70 +0.02%
EUR/USD $1.2800, $1.2850, $1.2900, $1.2950, $1.2965
USD/JPY Y82.20, Y82.50
GBP/USD $1.5990, $1.6150, $1.6200
EUR/GBP stg0.8095
AUD/USD $1.0350, $1.0390, $1.0500, $1.0525Data
00:01 United Kingdom RICS House Price Balance November -7% -5% -9%
00:30 Australia National Australia Bank's Business Confidence November -1 -9
06:30 France Non-Farm Payrolls Quarter III -0.3% -0.3% -0.3%
08:00 China New Loans November 505 550 523
10:00 Germany ZEW Survey - Economic Sentiment December -15.7 -11.4 6.9
10:00 Eurozone ZEW Economic Sentiment December -2.6 0.1 7.6
The euro strengthened for a second day against the dollar after a report showed that the level of confidence among German investors rose in December, as well as the background of the fact that Spain has sold treasury bills for a total of 3.89 billion euros, which was above the target range of 2.5-3.5 billion euros. ZEW Center for European Economic Research in Mannheim said its index of German confidence rose in December to 6.9 from -15.7 in November, while economists expected an increase to -11.5.
The single currency rose against all but one of its 16 major counterparts as Europe's largest economy gave signs of improvement, with growth causing speculation that the country will avoid a recession, but only in the event that the debt crisis does not worsen further.
The dollar index fell sharply against the background of what economists have identified the assumption that the Federal Reserve will resort to the expansion of monetary stimulus in the two-day meeting, which begins today.
The Swiss franc fell against the euro, as UBS AG (UBSN) joined Credit Suisse Group AG, speaking at the same time that will charge customers of the bank deposits in foreign currency.
EUR / USD: during the European session, the pair has grown substantially, reaching $ 1.2997
GBP / USD: during the European session, rose to $ 1.6100, updating the yesterday's high
USD / JPY: during the European session, the pair rose to Y82.55, but then fell to Y82.42
At 13:30 GMT in Canada will present data on the trade balance for October. At the same time, the U.S. will become aware of the trade balance for October. At 18:00 GMT the U.S. puts 10-year bonds. At 21:30 GMT, the U.S. announced the change of volume of crude oil, according to the API in December. At 23:50 GMT, Japan will report a change in orders for machinery and equipment in October.
EUR/USD
Offers $1.3040/60, $1.2990/020, $1.2980
Bids $1.2920, $1.2900, $1.2880/75
GBP/USD
Offers $1.6200, $1.6170/80, $1.6150, $1.6120, $1.6090
Bids $1.6070, $1.6025/20, $1.6000
AUD/USD
Offers $1.0575, $1.0550, $1.0525, $1.0495/00
Bids $1.0465/60, $1.0450, $1.0440, $1.0425/20, $1.0410/00
EUR/GBP
Offers stg0.8120/25, stg0.8100, stg0.8085, stg0.8070/75
Bids stg0.8035/30, stg0.8020, stg0.8005/00
EUR/JPY
Offers Y108.39, Y107.50, Y107.35/40, Y107.20
Bids Y106.40, Y106.00, Y105.80
USD/JPY
Offers Y83.50, Y83.00, Y82.55/56
Bids Y82.15/10, Y82.00, Y81.80
Growth began trading the main stock indexes in Europe. Today's data on the index of business sentiment in the medium from the ZEW Institute in Germany and the euro area have exceeded analysts' estimates. Instead, what would show a negative value, the index rose. Indicator for the euro area in December was at 6.9 at the forecast 0.1 to Germany in December as the forecast 6.9 -11.4.
Markets are hoping to address the "fiscal cliff" in the U.S. starting today from a two-day U.S. Federal Reserve meeting.
FTSE 100 5,931.92 +10.29 +0.17%
DAX 7,570.70 +39.78 +0.53%
CAC 3,632.55 +20.45 +0.57%
Value of the UK alcoholic beverage producer Diageo Plc dropped during trading at 1.5%. The Company has completed negotiations to buy Cuervo tequila brand and intends to terminate the distribution agreement, under which Diageo sells Cuervo tequila outside of Mexico.
ThyssenKrupp Shares fell 2.4%. Germany's largest steelmaker increased the net loss for the fiscal year ended September 30, up to 4.7 billion euros from 1.29 billion euros a year earlier, and said it would not pay the annual dividend.
Shares of the Belgian financial group KBC fell in price by 6.9%. KBC raised EUR 1.25 billion from the offering, selling 58.8 million securities at 21.25 euros per share, which represents a 9.5 percent discount to their value at the close of the market on Monday.
Asian stocks rose, with a regional index excluding Japan heading for its highest close in 16 months, ahead of a Federal Reserve policy meeting and as investors await progress on U.S. budget talks.
Nikkei 225 9,525.32 -8.43 -0.09%
Hang Seng 22,323.94 +47.22 +0.21%
S&P/ASX 200 4,576 +18.06 +0.40%
Shanghai Composite 2,074.7 -9.07 -0.44%
BHP Billiton Ltd., the world’s biggest mining company, added 1.3 percent in Sydney after metal prices rose.
STX Offshore & Shipbuilding Co. jumped 7.2 percent in Seoul after a report the shipbuilder’s parent was to selling a unit that makes offshore vessels.
Kansai Electric Power Co. led Japanese utilities lower after regulators said an active earthquake fault may be running under a nuclear reactor.
The dollar weakened against most its major counterparts amid better-than-forecast factory data from China and bets the U.S. central bank will add to monetary stimulus.
The U.S. currency fell versus the euro and the yen before the Federal Reserve starts a policy meeting tomorrow amid forecasts it will expand bond-buying plans.
The U.S. Federal Open Market Committee meets for the last time this year on Dec. 11-12. It will consider whether to expand purchases of assets after its so-called Operation Twist program of swapping $45 billion a month in short-term Treasuries for long-term debt expires this month.
Japan’s currency touched the highest in almost two weeks versus the euro after Italy’s Prime Minister Mario Monti said he intends to resign. Mexico’s peso advanced after a report showed exports increased 13 percent from a year earlier.
Italy’s Monti will attempt to convince his coalition, which includes his predecessor Silvio Berlusconi’s People of Liberty Party, to vote to pass budget legislation before handing in his “irrevocable resignation,” national President Giorgio Napolitano’s office said Dec. 8.
Canada’s dollar strengthened after the government approved Cnooc Ltd.’s $15.1 billion purchase of energy company Nexen Inc. and signed off on Malaysian Petroliam Nasional Bhd.’s purchase of Progress Energy Resources Corp. on Dec. 7.
00:01 United Kingdom RICS House Price Balance November -7% -5% -9%
00:30 Australia National Australia Bank's Business Confidence November -1 -9
The dollar remained lower against the yen and euro amid speculation the Federal Reserve will expand monetary stimulus at a two-day meeting starting today. In the U.S., the Federal Open Market Committee begins its last meeting for 2012 today. The central bank will amplify record accommodation by announcing $45 billion in monthly Treasury buying that will push its balance sheet almost to $4 trillion, according to a Bloomberg survey of economists.
Demand for the relative safety of the world’s reserve currency was limited as investors weighed prospects for a U.S. budget deal. The 17-nation euro traded near a two-week low versus the yen before a German survey of investor confidence today that’s forecast to show a negative index figure for a seventh-consecutive month. In Germany, the ZEW Center for European Economic Research will probably say today its index of expectations among German investors and analysts was at minus 11.5 this month from minus 15.7 in November, according to the median estimate of economists in a Bloomberg survey. A separate gauge assessing the current economic situation may rise to 6 from 5.4 last month, another poll shows. European Union heads of government will hold a summit on Dec. 13-14 in Brussels.
EUR / USD: during the Asian session, the pair rose to $ 1.2960.
GBP / USD: during the Asian session, the pair rose to $ 1.6090.
USD / JPY: during the Asian session, the pair traded in the range of Y82.30-45.
Asian stocks gained, with a regional gauge excluding Japan heading for its highest close in more than a year after U.S. jobs data topped estimates and China’s factory output and retail sales signaled a quickening economic recovery.
Nikkei 225 9,533.75 +6.36 +0.07%
S&P/ASX 200 4,557.95 +6.19 +0.14%
Shanghai Composite 2,083.77 +21.98 +1.07%
Yue Yuen Industrial Holdings Ltd., a maker of shoes for Nike Inc., gained 1.9 percent in Hong Kong.
Rio Tinto Group, the world’s second-largest mining company, rose 1.9 percent in Sydney after Chinese industrial production beat estimates.
Advantest Corp., the largest producer of semiconductor-testing devices, jumped 5.1 percent in Tokyo after saying orders will rise.
Hino Motors Ltd. slid 1.3 percent after recalling trucks in the U.S. due to a battery flaw.
European stocks closed little changed at an 18-month high as China’s industrial output and retail sales exceeded forecasts, offsetting concern a leadership change in Italy will disrupt efforts to reduce debt.
In China, industrial output and retail sales exceeded forecasts last month in signs the economic recovery is accelerating. Factory production climbed 10.1 percent in November from a year earlier, the National Bureau of Statistics said yesterday, compared with the 9.8 percent median estimate of analysts. Retail sales growth accelerated to 14.9 percent.
National benchmark indexes gained in 10 of the 18 western European markets. Germany’s DAX and France’s CAC 40 added 0.2 percent, while the U.K.’s FTSE 100 rose 0.1 percent.
The FTSE MIB slid 2.2 percent as Monti said he will quit after losing support in Parliament. Silvio Berlusconi, his predecessor, announced a return to politics and criticized Monti for running a “German-centric” program. Monti will try to corral his coalition for a vote to pass the budget before handing in his resignation, President Giorgio Napolitano’s office said on Dec. 8.
UniCredit declined 5.2 percent to 3.46 euros, the biggest drop in four months, as a gauge of banks in the Stoxx 600 slid 0.9 percent.
Fiat SpA, Italy’s largest carmaker lost 3.5 percent to 3.49 euros, snapping four days of gains. Finmeccanica SpA, the Italian defense contractor, retreated 2.2 percent to 4 euros.
STMicroelectronics gained 4.2 percent to 5.21 euros in Milan. The European chipmaker struggling with weakening demand and competition from Asia will sell its stake in the ST-Ericsson joint venture by the third quarter of next year as part of a new strategy to make the company more profitable.
Oriflame Cosmetics SA, which sells beauty products through 3 million consultants worldwide, rose 4.2 percent to 196.50 kronor as Danske Bank A/S said it may report profit that will beat analyst estimates.
After the start of trading multidirectional major U.S. stock indices trading results showed moderate growth.
The current dynamics of the indices for the most part the result of a significant increase in the shares of some companies than to the fundamental message that today was diversified.
External background for the U.S. session unfavorable - in Italy escalation in political circles has led to the fact that Prime Minister Mario Monti announced his intention to resign, and Silvio Berlusconi expressed his willingness to regain the premiership and to reverse the budgetary reform that promoted Monti. Rejection of reform can complicate the already difficult situation in Italy and the euro zone as a whole.
Today stronger equities technology sector by increasing shares Hewlett-Packard Co (HPQ, +2.10%) and Cisco Systems (CSCO, +2.77%).
Had supported the early rumors about plans billionaire investor Carl Ikana to increase its share in the company.
In turn, shares of CSCO continue their growth through Friday announced in mid-term growth strategy.
In addition to these two companies' technology sector shares worth noting strengthen McDonald's (MCD, +1.06%), which increased due to strong sales data for November.
Against the background of the upcoming meeting of the Federal Open Market, which will take place later this week, and the uncertainties associated with the problem of "fiscal cliff," most investors continue to refrain from taking action on the market.
DOW index components were mixed. Maximum losses in shares of Home Depot (HD, -2.14%). Lead stocks Cisco Systems (CSCO, +2.77%).
Most sectors of the S & P index rose. Health sector and basic materials lead (+0.5%). Service and financial sector (-0.1%) were down more than others.
At the close:
Dow 13,169.88 +14.75 +0.11%
Nasdaq 2,986.96 +8.92 +0.30%
S & P 500 1,418.55 +0.48 +0.03%
Change % Change Last
Oil $85.69 +0.13 +0.15%
Gold $1,713.60 -0.80 -0.05%
Change % Change Last
Nikkei 225 9,533.75 +6.36 +0.07%
S&P/ASX 200 4,557.95 +6.19 +0.14%
Shanghai Composite 2,083.77 +21.98 +1.07%
FTSE 100 5,921.63 +7.23 +0.12%
CAC 40 3,612.1 +6.49 +0.18%
DAX 7,530.92 +13.12 +0.17%
Dow 13,169.88 +14.75 +0.11%
Nasdaq 2,986.96 +8.92 +0.30%
S&P 500 1,418.55 +0.48 +0.03%
(pare/closed(00:00 GMT +02:00)/change, %)
EUR/USD $1,2940 +0,09%
GBP/USD $1,6074 -0,12%
USD/CHF Chf0,9333 -0,09%
USD/JPY Y82,36 -0,08%
EUR/JPY Y106,55 -0,02%
GBP/JPY Y132,35 +0,14%
AUD/USD $1,0487 0,00%
NZD/USD $0,8347 +0,26%
USD/CAD C$0,9863 -0,46%
00:01 United Kingdom RICS House Price Balance November -7% -5% -9%
00:30 Australia National Australia Bank's Business Confidence November -1 -9
06:00 Japan Prelim Machine Tool Orders, y/y November -6.7%
06:30 France Non-Farm Payrolls Quarter III -0.3% -0.3%
08:00 China New Loans November 505 550
10:00 Germany ZEW Survey - Economic Sentiment December -15.7 -11.4
10:00 Eurozone ZEW Economic Sentiment December -2.6 0.1
13:30 Canada Trade balance, billions October -0.8 -1.2
13:30 U.S. International trade, bln October -41.5 -42.4
23:30 Australia Westpac Consumer Confidence December +5.2%
23:30 Japan Core Machinery Orders October -4.3% +3.1%
23:50 Japan Tertiary Industry Index October +0.3% -0.3%
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