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CFD Markets News and Forecasts — 17-08-2012
retreated from session low versus dollar amid optimism that European leaders are moving closer to agreement on solving the region’s debt crisis.
The euro has been buoyed by suggestions that the ECB will buy bonds as soon as anyone comes to the European Financial Stability Fund to ask for help.
Canada’s dollar weakened against its U.S counterpart for the first time in four days as inflation slowed in July, adding to evidence the nation’s economy is moving away from full capacity.
European stocks advanced to a 13- month high amid optimism policy makers will take steps to protect the region’s banks and as American consumer sentiment and leading economic indicators beat forecasts. National benchmark indexes advanced in all of the 18 western European markets. On result of yesterday’s session: FTSE 5,852.42 +17.91 +0.31% CAC 3,488.38 +7.89 +0.23% DAX 7,040.88 +44.59 +0.64% Shares of Swiss Life rose 3.1%. The company said first-half profit was above consensus. Bankia SA jumped 4.9%. Reuters reported yesterday that the bank will get some rescue funds shortly. Finmeccanica SpA jumped 11% after today’s report that the Italian government is considering a plan to sell stakes in Eni SpA, Enel SpA and Finmeccanica for a total value of about 25 billion euros ($31 billion) as part of plan to cut public debt. Air France-KLM rallied 3.7%. The carrier’s biggest pilot union voted to back a management plan that will reduce staff strength in the coming years.
Oil slightly rose on reports signaling the U.S. economy is recovering and increased tension in the Middle East.
U.S. consumers improved and the index of U.S. leading economic indicators climbed more than forecast.
Crude has gained the past three days on concern that Israel will strike to delay Iran from producing nuclear weapons and as the United Nations Security Council conceded it couldn’t stem Syria’s violence.
Gold is flat, paring a weekly loss, on speculation governments from China to U.S. may take steps to spur growth.
Gold for August delivery currently at $1,614.20 an ounce (-0.04%).
The pair now likely to find resistance at $1.2320/25 area of broken support. Bids remain in area $1.2285/80 with stops in place below.
EUR/USD $1.2275, $1.2300, $1.2350, $1.2400
EUR/JPY Y79.00, Y79.05, Y79.10, Y79.20, Y79.25
EUR/JPY Y98.00, Y97.05, Y97.00
GBP/USD $1.5760
EUR/GBP stg0.7800, stg0.7950
USD/CHF Chf0.9760
AUD/USD $1.0350, $1.0405, $1.0450, $1.0500, $1.0600
AUD/JPY Y83.00, Y82.60, Y82.00U.S. stock futures were little changed after yesterday’s grow as investors awaited reports on consumer confidence and leading economic indicators.
Global Stocks:
Nikkei 9,162.5 +69.74 +0.77%
Hang Seng 20,116.07 +153.12 +0.77%
Shanghai Composite 2,114.89 +2.69 +0.13%
FTSE 5,838.53 +4.02 +0.07%
CAC 3,478.08 -2.41 -0.07%
DAX 7,017.77 +21.48 +0.31%
Crude oil $95.57 -0,03%
Gold $1619.70 +0.03%
Data
06:00 Germany Producer Price Index (MoM) July -0.4% +0.4% 0.0%
06:00 Germany Producer Price Index (YoY) July +1.6% +0.9%
08:00 Eurozone Current account, adjusted, bln June 10.9 7.8 12.7
09:00 Eurozone Trade Balance s.a. June 6.3 5.4 10.5
The euro rose to its highest level in six weeks against the yen, as Germany has declared its support for the decision of the European Central Bank to overcome the debt crisis, which may include the purchase of sovereign debt.
The single currency rose against all 16 major currencies after German Chancellor Angela Merkel, French President Francois Hollande and the Prime Minister Antonis Samaras of Greece said that the leaders feel obliged to do everything to protect the euro.
Australian dollar won back all lost over the past two days otnoscheniyu position on the U.S. dollar, as there were rumors that the RBA may resort to stimulating monetary policy if the changes in exchange rates will seriously harm the economy.
The New Zealand dollar strengthened after the published data on the producer price index showed an unexpected increase in the second quarter.
The pound fell during the session, which probably was corrected after yesterday's rapid growth.
EUR/USD: Trading in the updated a couple of yesterday's high, then began to decline and is now trading near the minimum values of the session
GBP/USD: Trading steam flow steadily declining, and lost more than half of the positions won yesterday
USD/JPY: during the course of the session showed showed a slight increase, but despite this renewed yesterday's high
At 12:30 GMT, Canada will provide the consumer price index and core consumer price index from the Bank of Canada in July. At 13:55 GMT the U.S. consumer sentiment index released by the University of Michigan in August
EUR/USD
Offers $1.2485, $1.2460/65, $1.2445/50, $1.2410/20, $1.2382/00
Bids $1.2325/20, $1.2305/00, $1.2285/80, $1.2256, $1.2240
AUD/USD
Offers $1.0550, $1.0520, $1.0500, $1.0475/80
Bids $1.0430, $1.0400, $1.0365/60, $1.0350
GBP/USD
Offers $1.5800/10, $1.5780, $1.5750
Bids $1.5665/60, $1.5635/30, $1.5600
EUR/GBP
Offers stg0.7920, stg0.7900/05, stg0.7885, stg0.7879
Bids stg0.7810/00, stg0.7780/75, stg0.7755/50
USD/JPY
Offers Y80.20, Y80.00, Y79.80
Bids Y79.10, Y79.05/00, Y78.80, Y78.50
EUR/JPY
Offers Y99.20, Y99.00, Y98.50
Bids Y97.50, Y97.20, Y97.05/00, Y96.85/80, Y96.70
The growth of stock indices is due to investors' expectations of positive data on consumer sentiment index from Reuters / Michigan and the U.S. leading economic indicators.
Today we have published data on the index of producer prices in Germany, which accounted for the m / m, 0.0% in July (the forecast of +0.4%) y / y, July +0.9%. Also, the trade balance seasonally adjusted, in June 10.5 (the forecast of 5.4) for the euro area.
At the moment:
FTSE 100 5,845.05 +10.54 +0.18%
CAC 40 3,490.62 +10.13 +0.29%
DAX 7,012.79 +16.50 +0.24%Positive influences on the auctions, and corporate reporting. In connection with which shares have risen Bankia SA 6.6%, paper, Swiss Life Holding AG (SLHN) - by 3.9%. Also, the shares rose Air France-KLM (AF) Group by 4.9%.
EUR/USD $1.2275, $1.2300, $1.2350, $1.2400
USD/JPY Y79.00, Y79.05, Y79.10
EUR/JPY Y98.00, Y97.05, Y97.00
GBP/USD $1.5760
EUR/GBP stg0.7800, stg0.7950
AUD/USD $1.0350, $1.0405, $1.0600
AUD/JPY Y83.00
Asian stocks rose, with the region’s benchmark index set for a third weekly gain, after U.S. housing permits rose to a four-year high, helping temper concerns about the strength of a global recovery.
Nikkei 225 9,162.5 +69.74 +0.77%S&P/ASX 200 4,370.1 +39.93 +0.92%
Shanghai Composite 2,114.89 +2.69 +0.13%
Santos Ltd. climbed 3.2 percent after the Australian energy explorer said it will begin sales from a shale gas project in October.
Mitsubishi UFJ Financial Group Inc., Japan’s largest publicly traded lender, rose 2.2 percent as German Chancellor Angela Merkel backed the European Central Bank’s conditions for assisting indebted countries.
Samsung Electronics Co., an electronics exporter, fell 3.7 percent in Seoul after resting its case in a patent-infringement trial with Apple Inc.
The euro traded 0.3 percent from a six-week high versus the yen as Germany signaled its support for a European Central Bank approach to resolve the debt crisis. Merkel is due to host Hollande, Paris-based Agence France- Presse reported, one day before Samaras visits Berlin for talks. Italian media reported that Prime Minister Mario Monti is due in the German capital on Aug. 29, while Spanish Prime Minister Mariano Rajoy has said that Merkel will visit Madrid on Sept. 6.
Asked about ECB chief Mario Draghi’s announcement the bank may return to sovereign bond buying, Merkel said recent ECB decisions “have made it clear that the European Central Bank is counting on political action in the form of conditionality as the precondition for a positive development of the euro.”
The yen headed for its biggest weekly loss in almost two months versus the greenback as the extra yield investors receive from U.S. securities over Japanese debt climbed.
Sales of existing U.S. homes probably rose to a 4.5 million annual rate in July from a 4.37 million pace in June, according to the median estimate of economists surveyed by Bloomberg News before a report by the National Association of Realtors due Aug. 22. Housing starts fell 1.1 percent to a 746,000 annual rate last month from June’s 754,000 pace, Commerce Department figures showed yesterday.
Federal Reserve Bank of Minneapolis President Narayana Kocherlakota said he believes the Federal Open Market Committee has gone too far by pledging to hold the main interest rate near zero at least through late 2014.
EUR / USD: during the Asian session the pair retreated from yesterday's high.
GBP / USD: during the Asian session the pair fell, retreating from yesterday's high.
USD / JPY: during the Asian session the pair rose to yesterday's high.
European data for Friday starts at 0600GMT with PPI from Germany, which is expected to rise by 0.5% m/m, 1.4% y/y in July. EMU data also sees the ECB current account at 0800GMT and EMU trade balance at 0900GMT. US data starts at 1355GMT, when the University of Michigan Sentiment Index is expected to fall to a reading of 72.0 in early-August from a 72.3 reading in July. US Leading Indicator data follows at 1400GMT along with the latest BLS State Unemployment data. Later on, at 2015GMT, US C&I Loans data is due.
Yesterday after three days of recession, market participants are still able to achieve a strengthening of the euro. During the first half of the day maintained the pressure on the euro, as market participants were waiting for release of data on consumer price index. After its publication, it became clear that the situation remained the same as the index remained stable and in line with analysts' expectations. But despite this, the market situation started to change gradually in favor of the euro. The attention of many traders immediately switched to the output data for the U.S., which, as expected, were to influence the growth of the dollar. Prior to the publication of the reports the euro gained slightly, while departing from the values of the day. But immediately after the published data showed that the number of building permits has increased markedly in July, and the level of housing starts decreased by 1.1% the euro started to rise rapidly and confidently. Also helped the growth of the single currency presented by the Philadelphia Fed manufacturing index, which fell in August to -7.1 from -12.9 in July. In the end of the session on the euro against the dollar was able to show growth at more than one figure.
Unprecedented movement also spread to other couples. Significant growth was able to show, the pound sterling. After a bad start to the day, which was caused by the depreciation of currencies against the dollar by 50 points, the pair began their recovery. At first it was due to expectations of data on the level of retail sales, according to which a significant increase was recorded during the month of 0.3% compared to 0.1% in June. As a result of news of the pair managed to recover with minimum values and update with the high of the day. Output data for the United States helped the pair make another rapid spurt that the outcome of the session allowed the pair to show growth at a single figure.
Also notable movement was pleased the Swiss franc. Its value today, had little impact index value of investors' expectations according to the ZEW and Credit Suisse, which amounted to -33.3 in August, compared with -42.5 in July. But a little more on the value of currency affect U.S. data, which caused the depreciation of the franc against the dollar by about 90 points.
The unusual dynamics of introduced the Canadian dollar against the U.S. dollar. Surprising is the fact that the currency barely reacted to the economic releases from the United States, and strengthened the beginning only a couple of hours, which was due to the fact that the rating agency Moody's has published its annual report on Canada.
The other major pairs mainly show the same dynamics, which is a marked increase in the exchange rate against the U.S. dollar.
Asian stocks rose, with the region’s benchmark index poised to erase yesterday’s decline, after Chinese Premier Wen Jiabao said easing inflation allows more room to adjust monetary policy in the world’s second-largest economy. China’s state television reported Wen as saying there’s “growing room for monetary policy operation.” He said downward pressure on the economy remained “relatively large,” according to state radio.
Nikkei 225 9,092.76 +167.72 +1.88%S&P/ASX 200 4,330.2 +48.98 +1.14%
Shanghai Composite 2,113.97 -4.97 -0.23%
Fanuc Corp., a maker of industrial robots used in Chinese factories, gained 4.3 percent in Tokyo.
Goodman Fielder Ltd. fell 1.8 percent after the Australian baker said it hasn’t received a takeover proposal from Wilmar International Ltd.
Daphne International Holdings Ltd. surged 8.4 percent in Hong Kong after first-half profit increased at the footwear maker.
European stocks advanced to their highest level since March as U.K. retail sales beat forecasts and U.S. building permits jumped to their highest in four years.
Novozymes A/S (NZYMB), the world’s biggest maker of industrial enzymes, gained 4.8 percent after reporting second-quarter profit that exceeded analysts’ projections. Mediaset SpA (MS) surged 11 percent amid reports Middle East investors are buying shares in the Italian broadcaster. Telekom Austria AG (TKA) slid 5.6 percent after cutting its profit and sales forecast for 2012.
The Stoxx Europe 600 Index (SXXP) rose 0.3 percent to 271.09 at 4:30 p.m. in London, its highest level since March 19.
National benchmark indexes advanced in 15 of the 18 western European markets.
FTSE 100 5,834.51 +1.47 +0.03% CAC 40 3,480.49 +31.29 +0.91% DAX 6,996.29 +49.49 +0.71%
Novozymes climbed 4.8 percent to 158 kroner after posting second-quarter net income of 495 million kroner ($82 million), exceeding analyst estimates of 483 million kroner.
Tesco Plc advanced 1.7 percent to 338.3 pence after British retail sales beat forecasts. Marks & Spencer Group Plc added 1.6 percent to 360 pence and Home Retail Group Plc gained 4.1 percent to 93 pence.
African Barrick Gold Plc (ABG) surged 8 percent to 425 pence after Toronto-based parent Barrick Gold Corp. said it has held talks to sell its stake in the company to China National Gold Group Corp.
Hikma Pharmaceuticals Plc (HIK) jumped 3.4 percent to 749.5 pence after reiterating its projection for 20 percent sales growth in 2012. First-half revenue rose 35 percent to $532.3 million from a year earlier, the company said.
Mediaset SpA surged 11 percent to 1.57 euros on speculation investors from the Middle East are buying the Italian broadcaster’s shares and may seek to become the company’s second-biggest shareholder.
Bankia jumped 17 percent to 1.40 euros. Banco Popular Espanol SA (POP) surged 15 percent to 1.72 euros.
Telekom Austria declined 5.6 percent to 6.94 euros as a gauge of telecommunications companies dropped. The mobile-phone operator predicted full-year revenue of 4.2 billion euros ($5.2 billion), compared with a forecast of 4.4 billion euros in June.
Vodafone Plc, the world’s second-largest mobile-phone company, lost 1.7 percent to 185.6 pence.
William Demant plunged 7.5 percent to 515 kroner after reporting first-half Ebit of 864 million kroner. That missed the median analyst estimate of 935 million kroner.
Lonmin Plc (LMI) plunged 6.8 percent to 648 pence, dropping for a fourth day. The third-biggest platinum producer said Chief Executive Officer Ian Farmer had been hospitalized with a serious illness and the company may miss output targets as a strike cut production.
After an uncertain start of trading, the major U.S. stock indexes were able to develop an upward movement, updating the August highs, but eventually ended the session slightly lower.
Support index has a strong quarterly report of Cisco Systems (CSCO).
Positively on the mood of market participants affected by the data on the U.S. housing market. Despite the fact that the tabs of new homes in July fell more than expected, but it suddenly came out strong data on building permits, which are a leading indicator of the situation in the housing market.
Statistics showed that the launches of new homes fell 1.1% to 746 thousand against 754 thousand in June. Building permits also took off in July by 6.8% to 812 thousand - the maximum value in August 2008.
Indexes rose, even despite the fact that the stronger than expected data on the housing market reduces the likelihood of new injections of liquidity by the Fed.
As part of DOW index most of the components are in positive territory. Over the rest of the share price rose as Cisco Systems (CSCO, +9,63%). Below are the remaining shares of Wal-Mart (WMT, -3,02%), the pressure to which the company had a quarterly report.
Branches in the context of all major sectors of the index S & P, except for the health sector (-0.1%) increase. Leading sector of industrial goods (1.3%).
At the time of closure:
Dow 13,250.11 +85.33 +0.65%
Nasdaq 3,062.39 +31.46 +1.04%
S & P 500 1,415.52 +9.99 +0.71%
Change % Change Last
Oil $95.14 -0.46 -0.48%
Gold $1,617.80 -1.40 -0.09%
Change % Change Last
Nikkei 225 9,092.76 +167.72 +1.88%
S&P/ASX 200 4,330.2 +48.98 +1.14%
Shanghai Composite 2,113.97 -4.97 -0.23%
FTSE 100 5,834.51 +1.47 +0.03%CAC 40 3,480.49 +31.29 +0.91%
DAX 6,996.29 +49.49 +0.71%
Dow 13,250.11 +85.33 +0.65%
Nasdaq 3,062.39 +31.46 +1.04%
S&P 500 1,415.52 +9.99 +0.71%(pare/closed(00:00 GMT +02:00)/change, %)
EUR/USD $1,2357 +0,57%
GBP/USD $1,5734 +0,35%
USD/CHF Chf0,9719 -0,58%
USD/JPY Y79,32 +0,43%
EUR/JPY Y98,01 +1,00%
GBP/JPY Y124,80 +0,79%
AUD/USD $1,0511 +0,10%
NZD/USD $0,8109 +0,47%
USD/CAD C$0,9863 -0,28%
06:00 Germany Producer Price Index (MoM) July -0.4% +0.4%
06:00 Germany Producer Price Index (YoY) July +1.6%
08:00 Eurozone Current account, adjusted, bln June 10.9 7.8
09:00 Eurozone Trade Balance s.a. June 6.3 5.4
12:30 Canada Consumer Price Index m / m July -0.4% +0.2%
12:30 Canada Consumer price index, y/y July +1.5%
12:30 Canada Bank of Canada Consumer Price Index Core, m/m July -0.4% +0.2%
12:30 Canada Bank of Canada Consumer Price Index Core, y/y July +2.0%
13:55 U.S. Reuters/Michigan Consumer Sentiment Index (preliminary) August 72.3 72.5
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