CFD Markets News and Forecasts — 15-09-2011

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15.09.2011
19:03
Investors a long wait for outcomes - FOMC results Weds, then G20 next Friday.
18:46
Company news: Morgan Stanley (MS +6.3%) shares hit their highs of the day, after John Mack announces his retirement as chairman, to be replaced by James Gorman, who had already replaced Mack as CEO in 2009.
18:39
US Stocks holds at area of session high: Dow 11,405 +158.07 +1.41%, Nasdaq 2,603 +29.97 +1.16%
18:24
ECB, Stark: EU needs power to intervene on a national level.

not sure if there's consensus to intervene in national policies.

18:16
American focus:

Five central banks announced a coordinated plan Thursday to pump dollars into Europe's financial system in an effort to boost liquidity across the eurozone. The European Central Bank, along with the Federal Reserve, the Bank of England, the Bank of Japan and the Swiss National Bank will hold three dollar auctions for U.S. dollars, with a three-month maturity, through the end of the year. The coordinated move is aimed at providing U.S. dollars to struggling European banks that need the currency to fund loans and repay debt. All of the auctions will carry a fixed rate and be conducted as "repurchase operations against eligible collateral."

Among the economic data today, it is worth noting recently published statistics on CPI for August and Initial Jobless Claims last week. The number of IJC rose to 428K as an average forecast 408K. Also CPI rose to the level of 3.8% y/y against an average forecast of +3.6%. Were later released positive data on Industrial Production in the U.S. in August: the forecast drops in the last reporting period to 0.1% the actual value was equal to 0.2% compared to the previous month. But all of these rather weighty economic data had no significant effect on the market against the background of the main news of the day - the plan to increase liquidity across the eurozone.

17:20
Dow 11,377.10 +130.37 +1.16%, Nasdaq 2,597.40 +24.85 +0.97%, S&P 1,202.74 +14.06 +1.18%
16:53
European stocks close: FTSE 5,338 +110.52 +2.11%, CAC 3,046 +96.48 +3.27%, DAX 5,508 +168.05 +3.15%
16:39
ECB, Stark: "Too low rates over long time potentially dangerous"

  • long period of low rates could cause new imbalances;
  • eurobonds would be no solution for current debt crisis;
  • there exists no simple, quick solution for debt crisis.

15:45
Pierpont says 428k jobless claims were distorted by either Labor Day or the hurricane
15:16
Oil rose

Crude oil increased, shoew session high above $90 a barrel, after the European Central Bank announced it will lend euro-area banks dollars to help tame the region’s credit crisis.

Oil  futures gained as the dollar weakened against the euro, bolstering the appeal of using commodities to protect against inflation.
Currently crude oil for October delivery is at $89.75 a barrel (+0.94%). 

14:20
EUR/USD fell to $1.3860 area. Support with stops becoming more visible below $1.3840.
14:04
US: Sept Philly Fed index -17.5
13:45
Dow 11,329.08 +82.35 +0.73%, Nasdaq 2,585.00 +12.45 +0.48%, S&P 1,196.05 +7.37 +0.62%
13:21
EUR/USD powers up to $1.3935 area as stops are flushed above $1.3885 area, the pair stalling at tech resistance at $1.3937 area
13:18
US: Aug Ind Production +0.2%
13:13
Before the bell: S&P futures +0.5%, Nasdaq futures +0.7.

U.S. stock futures rose, indicating the Standard & Poor’s 500 Index will rally for a fourth day, as German and French leaders reiterated support for Greece.
U.S. stock-index futures trimmed gains after reports showed jobless claims unexpectedly rose and manufacturing in the New York area shrank more than forecast, adding to signs the economic rebound is slowing.
Company news:
Applied Materials Inc. (AMAT), the world’s largest producer of chipmaking equipment, added 2.27% after Oppenheimer & Co. raised its recommendation for the shares. 
Netflix Inc. (NFLX) tumbled 14.47% percent as the mail-order and online film-rental service cut its forecast for domestic subscribers in the third quarter.

13:07
SNB website: "The Swiss National Bank (SNB) has decided, in coordination with the Bank of England, the Bank of Japan, the European Central Bank and the Federal Reserve, to offer US dollar liquidity"
12:32
US: Unemployment claims +11k to 428k for Sep 10 wk
12:31
US : Aug CPI +0.4%, core +0.2% for +3.8% YOY overall and +2.0% YOY core
12:07
Asian session: The euro strengthened

Data:

07:30 Swiss SNB press-conference 0.00-0.25%
08:30 UK Retail sales (August) -0.2%
08:30 UK Retail sales (August) Y/Y 0.0%
09:00 EU(17) Harmonized CPI (August) final 0.2%
09:00 EU(17) Harmonized CPI (August) final Y/Y 2.5%
09:00 EU(17) Harmonized CPI ex EFAT (August) Y/Y 1.2%

The euro strengthened for a second day against the yen and the dollar after French President Nicolas Sarkozy and German Chancellor Angela Merkel said they are “convinced” Greece will stay in the currency union.
The International Monetary Fund, European Central Bank and European Commission representatives will visit Greece this week and later make a recommendation on the release of further loans to the nation.
The euro rose after Spain sold almost all the debt on offer at an auction today. 
Spain sold 3.95 billion euros of bonds due in 2019 and 2020, the central bank said, compared with a maximum target of 4 billion euros. The debt due in October 2020 was sold to yield an average 5.156 percent, compared with 5.2 percent when it was last auctioned
The franc weakened against the euro after the Swiss National Bank said it is ready to take further steps to stop the currency from gaining.

EUR/USD: the pair rose above $1.3800.
GBP/USD: the pair rose above $1.5800.
USD/JPY: the pair fell in  Y76.60 area.

In second half of the day focus will be on the following data: Jobless claims for Sep 10 wk (12:30 GMT, Est 415k), Aug CPI (12:30 GMT, Est +0.2%/+0.2%), Aug IP/CapU (13:15 GMT, Est +0.1% IP for 77.5% CapU).

11:40
Orders:

EUR/USD

Offers $1.3900, $1.3870/80, $1.3850, $1.3825/35
Bids $1.3750, $1.3735/30, $1.3710/00, $1.3680, $1.3660/50, $1.3635/30

11:32
European stocks continue to increase. Currently FTSE 5,320 +92.80 +1.78%, CAC 3,027 +78.34 +2.66%, DAX 5,472 +131.53 +2.46%
11:26
Tech on USD/JPY

Resistance 3: Y77.40 (high of american session on Sep 12) 
Resistance 2: Y77.05 (Sep 14 high) 
Resistance 1: Y76.80 (session high) 
Current price: Y76.61
Support 1:Y76.50/60 (Sep 2 low, session low) 
Support 2:Y76.25/30 (Aug 1 low) 
Support 3:Y75.95 (Aug 19 low)


11:18
Tech on USD/CHF

Resistance 3:Chf0.8880 (high of american session on Sep 12, Sep 13 high)

Resistance 2: Chf0.8850/55 (Sep 14 high)
Resistance 1: Chf0.8800 (the top border of down channel from Sep 12)
Current price: Chf0.8733
Support 1: Chf0.8700/05 (Sep  9 low, the bottom border of down channel from Sep 12)
Support 2: Chf0.8630 (Sep 6-7 high)
Support 3: Chf0.8530 (Sep 7 low)

Comments: the pair decreases. In focus - support on Chf0.8700. 

10:51
Tech on GBP/USD

Resistance 3: $ 1.5920 (area of Sep 6-7 low)

Resistance 3: $ 1.5870 (area of Sep 12-13 high)
Resistance 1: $ 1.5840 (resistance line  from Aug 29)
Current price: $1.5821
Support 1 : $1.5810 (Sep 14 high)
Support 2 : $1.5730 (session low and low of american session on Sep 14)
Support 3 : $1.5705 (Sep 14 low)

Коментарии: the pair is restored. The strong resistance -  $1.5850-$ 1.5920 area.

10:26
Tech on EUR/USD

Resistance 3: $ 1.3940 (high of american session on Sep 9)

Resistance 2: $ 1.3870 (Sep 8 low, МА(200) for Н1)
Resistance 1: $ 1.3820/40 (the top border of up channel from Sep 12, high of american session on Sep 9)
Current price: $1.3811
Support 1 : $1.3780 (Sep 14 high) 
Support 2 : $1.3700 (session low) 
Support 3 : $1.3670 (the bottom border of up channel from Sep 12) 

Comments: the pair continues to become stronger. The strong resistance is area of $1.3820/40.

10:01
FTSE 5,298 +71.43 +1.37%, CAC 3,003 +53.77 +1.82%, DAX 5,435 +94.97 +1.78%
09:22
Option expiries for today's 1400GMT cut:

EUR/USD $1.3750, $1.3760, $1.3800, $1.3925

USD/JPY Y76.00, Y76.85, Y77.40
EUR/JPY Y107.15
GBP/USD $1.6000
EUR/CHF Chf1.2000
AUD/USD $1.0225, $1.0200, $1.0100, $1.0050, $1.0280

09:09
EU Commission: EMU 2011 GDP fcast unrevised at +1.6% on strong q1

EMU GDP in q3 +0.2% (prev +0.4%), q4 +0.1% (vs +0.4%)

09:05
EMU: CPI +0.2% m/m, +2.5% y/y; core +1.2% y/y
08:52
Asian session:

The euro declined against the dollar on concern that the risk of a Greek default is increasing borrowing costs for other European countries.

The single currency weakened against the yen before Spain and France offer government securities today. 
The New Zealand dollar fell against its U.S. and Japanese counterparts after the central bank left interest rates unchanged and said that the global economy may slow “sharply.” 
The U.S. and Japanese currencies rose versus most of their major peers as Asian stocks pared earlier gains.
Italy sold 3.9 billion euros of five-year notes on Sept. 13 at an average yield of 5.6 percent, up from 4.93 percent at the auction on July 14. Demand dropped to 1.28 times the amount on offer, from 1.93 times.
Fitch Ratings downgraded five of Spain’s regions including Andalusia and Catalonia yesterday, saying debt levels are surging and the weak economic recovery will undermine revenue. The country’s regional governments are behind schedule to meet deficit targets, according to data released last week that Moody’s Investors Service said was “credit negative.”

EUR/USD: the pair holds at  $1.3700-$ 1.3740. 
GBP/USD: the pair holds at $1.5730-$ 1.5775.
USD/JPY: the pair holds Y76.65/Y76.80.

EMU data at 0900GMT should see final August HICP data remain unrevised, while Q2 employment data is due at the same time. Then later, at 1840GMT, ECB President Jean-Claude Trichet is due to host a gala dinner of the Eurofi Financial Forum 2011.

08:51
BOE: median year ahead inflation expectations 4.2% vs 3.9% in May
  • longer term inflation expectations 3.5% vs 3.2% in May
08:44
Forex: Wednesday's review

The euro rose against the majority of its most-traded counterparts as optimism increased that area leaders will work to avoid a default in Greece and contain the region’s debt crisis. 
The 17-nation currency strengthened before a conference call today among the leaders of Greece, Germany and France. 
The euro briefly dropped after Austria’s parliamentary finance committee delayed a vote to approve the increase of the European Financial Stability Facility. 
The yen approached a post-World War II record against the dollar after U.S. retail sales unexpectedly stagnated in August, increasing concern the nation’s economic recovery is faltering.
U.S. retail sales were unchanged in August, following a 0.3 percent gain for July that was smaller than previously estimated, Commerce Department figures showed today in Washington. The median forecast of economists was a 0.2 percent rise.
 
EUR/USD: the pair showed low at  $1.3635 but restored later and finished session in area of Tuesday high $1.3740.
GBP/USD: in first half of day the pair updated low and reached $1.5705. Later restored and finished session in area of $1.5760. 
USD/JPY: the pair was under pressure and updated weekly low.

EMU data at 0900GMT should see final August HICP data remain unrevised, while Q2 employment data is due at the same time. Then later, at 1840GMT, ECB President Jean-Claude Trichet is due to host a gala dinner of the Eurofi Financial Forum 2011.

08:36
UK: Aug Retail Sales -0.2% m/m; unch. y/y
07:32
SNB: Holds 3-mth LIBOR target range at 0.0%-0.25%
07:25
Switzerland: Industrial Production (Q2) +3.6% (QoQ), (YoY) +2.6%
07:07
Stocks: Wednesday's review

Japanese stocks dropped after Premier Wen Jiabao said indebted economies must “put their own houses in order,” damping speculation China would rescue Europe from a crisis that has sent global financial markets plunging.
Canon Inc., which depends on Europe for about a third of its sales, sank 4.1 percent. 
Mitsubishi UFJ Financial Group Inc., Japan’s largest publicly traded lender, fell 1.8 percent. 
Sharp Corp. climbed 3.3 percent after JPMorgan Chase & Co. raised the electronics maker’s investment rating to “neutral.”
The Nikkei 225 Stock Average slipped 1.1 percent to 8,518.57 at the 3 p.m. close in Tokyo, reversing earlier gains of as much as 0.6 percent after Wen’s comments today at the World Economic Forum in the Chinese city of Dalian. 
The broader Topix slid 1.1 percent to 741.69.
Japanese stocks extended declines after Wen, facing calls to widen support for indebted European countries, signaled that developed nations should cut deficits and create jobs rather than relying on China to bail out the world economy.
Bridgestone Corp. rose 1 percent to 1,683 yen. The tiremaker said a U.S. unit will raise prices of radial tires for trucks and buses by as much as 8 percent on Sept. 12 because of increasing material costs.
European stocks rose for a second day amid speculation China may still buy the region’s government bonds even after Premier Wen Jiabao said indebted countries must not rely on bailouts.
Finmeccanica SpA (FNC) soared the most in 13 years on a report that Italy’s biggest arms company may sell railway units to General Electric Co. 
Next Plc (NXT) rallied to a record as earnings increased. 
Societe Generale SA slid 2.9 percent after Moody’s Investors Service downgraded the French bank’s credit rating.
European stocks almost erased their gains in afternoon trading as Austria delayed a parliamentary vote on an overhaul of the European bailout fund, causing confusion among investors. They later rebounded.
U.S. stocks rose, sending the Standard & Poor’s 500 Index higher for a third day, as French President Nicolas Sarkozy and German Chancellor Angela Merkel said they are convinced Greece will remain in the euro zone.
All groups in the S&P 500 advanced. 
Stocks also rallied on optimism that China may support Europe. China is willing to buy the bonds of nations hit by the debt crisis, Caijing reported on its website today, citing Zhang Xiaoqiang, a vice chairman of the National Development and Reform Commission.
Earlier today, equities slumped after inventories in the U.S. rose less than forecast in July, indicating companies are bracing for a slowdown in demand. Separate data showed that retail sales in the U.S. unexpectedly stagnated in August as a lack of employment and limited income growth restrained demand, highlighting the risk the economy will stall.
Company news:
General Electric Co. (GE), Home Depot Inc. (HD) and Monsanto Co. (MON) rose at least 2.4 percent, pacing gains in companies most-tied to economic growth. 
Dell Inc. advanced 3.3 percent as the second-largest personal-computer maker approved an additional $5 billion for its stock repurchases.
Yahoo! Inc. climbed 2.1 percent to $14.55 as investor Third Point LLC ramped up pressure on the company’s board, saying it may add to its 5.2 percent stake.

06:56
Tech on USD/JPY

Resistance 3: Y77.60 (Sep 8 and 12 high) 

Resistance 2: Y77.40 (high of american session on Sep 12) 
Resistance 1: Y77.05 (Sep 14 high) 
Current price: Y76.72
Support 1:Y76.50/60 (Sep 2 low, session low)  
Support 2:Y76.25/30 (Aug 1 low)  
Support 3:Y75.95 (Aug 19 low)

Comments: the pair continues decrease. The immediate support - Y76.50/60. Below losses are possible to Y76.30. The immediate resistance - Y77.05. Above ggrowth is possible to Y77.40.

06:55
Tech on USD/CHF

Resistance 3:Chf0.8880 (high of american session on Sep 12, Sep 13 high)

Resistance 2: Chf0.8850/55 (Sep 14 high)
Resistance 1: Chf0.8800 (Sep 12 low)
Current price: Chf0.8788
Support 1: Chf0.8750 (Sep 13 low)
Support 2: Chf0.8700/05 (Sep 9 low)
Support 3: Chf0.8630 (Sep 6-7 high)
Comments: the pair come nearer to resistance Chf0.8800. Above the pair may reach  Chf0.8850. Below losses are possible to Chf0.8750. 

06:42
Tech on GBP/USD

Resistance 3: $ 1.5870 (area of Sep 12-13 lows)

Resistance 2: $ 1.5810/15 (area of Sep 14 high)
Resistance 1: $ 1.5775 (session high)
Current price: $1.5760
Support 1 : $1.5730 (session low and low of american session on Sep  14)
Support 2 : $1.5705 (Sep 14 low)
Support 3 : $1.5640/45 (Jan 4 and 11 high)

Коментарии: the pair holds top borders of the channel from Sep 13. Above session high at $1.5775 strengthening is possible to the next resistance $1.5810/15.

06:39
Tech on EUR/USD

Resistance 3: $ 1.3840 (high of american session on Sep  9)

Resistance 2:1.3780/85 (Sep 14 high)
Resistance 1: $ 1.3740 (Sep  13 high)
Current price: $1.3716
Support 1 : $1.3700 (session low) 
Support 2 : $1.3635 (low of american session on Sep 14) 
Support 3 : $1.3590 (Sep 14 low)

Comments: the pair corrected. The immediate support - $1.3700. Below losses are possible to $1.3635. The immediate resistance - $1.3740.

05:39
Daily history for Sep 14'2011:

 

Change % Change Last
Nikkei   8,519 -97.98 -1.14%   
Hang Seng  19,045 +14.90 +0.08% 
Shanghai Composite  2,485 +13.52 +0.55% 
FTSE  5,227 +52.77 +1.02%
CAC  2,949 +54.21 +1.87%
DAX 5,340 +173.83 +3.36%.
Dow 11,246.13 +140.28 +1.26%
Nasdaq 2,573 +40.40 +1.60%
S&P 500 1,189 +15.81 +1.35%
10 Year Yield 2.01% +0.02 
Oil $88.95 +0.04 +0.04%
Gold $1,815.80 -10.70 -0.59%
05:18
Schedule for today, Thursday, Sep 15'20011:

07:30 Swiss  SNB press-conference 0.00-0.25% 0.00-0.25%
08:30 UK Retail sales (August) -0.3% 0.2%
08:30 UK Retail sales (August) Y/Y -0.1% 0.0%
09:00 EU(17) Harmonized CPI (August) final - -0.6%
09:00 EU(17) Harmonized CPI (August) final Y/Y 2.5% 2.5%
09:00 EU(17) Harmonized CPI ex EFAT (August) Y/Y 1.2% 1.2%
12:30 USA Jobless claims (week to 10.09) 408K 414K
12:30 USA CPI (August) 0.2% 0.5%
12:30 USA CPI (August) Y/Y - 3.6%
12:30 USA CPI excluding food and energy (August) 0.2% 0.2%
12:30 USA CPI excluding food and energy (August) Y/Y - 1.8%
12:30 USA NY Fed Empire State manufacturing index (September) -4.3 -7.7
12:30 USA Current account (Q2), bln -121.3 -119.3
13:15 USA Industrial production (August) -0.1% 0.9%
13:15 USA Capacity utilisation (August) 77.3 77.5
14:00 USA Philadelphia Fed index (September) -12.0 -30.7

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