- Analytics
- News and Tools
- Market News
CFD Markets News and Forecasts — 19-09-2012
The yen erased losses after reaching a four-week low versus the dollar as investors speculated the Bank of Japan unexpected monetary stimulus expansion will do little to augment economic growth.
The yen strengthened against almost all of its 16 most- traded counterparts even after policy makers added 10 trillion yen ($127 billion) in stimulus, following measures by the Federal Reserve and European Central Bank this month.
Earlier, the yen fell to four-week low against the dollar after the Bank of Japan unexpectedly announced the expansion of the program of monetary stimulus to support growth and reduce the value of the currency. The yen weakened against most of its 16 major counterparts after the central bank said it will increase the amount of asset purchase program, which is the main tool of monetary easing in the conditions close to zero interest rates, up to 80 trillion yen from 70 trillion yen and to extend its action for six months, until the end of 2013.
The euro rose against the dollar amid rising stock markets after existing home sales in the U.S. rose the most in a year. Thus, sales in the secondary market amounted to 4.82 million in August, is expected to 4.55 million Also today, the ECB held an auction to provide dollar liquidity to the tune of 3.72 billion dollars at 0.64% for 7 days. Data on the volume of construction in the euro zone at an annual rate in July showed a decline of -4.7%.
European stocks climbed, halting a two-day decline, after the Bank of Japan joined the Federal Reserve in opting for further asset purchases to support the economy and housing starts climbed in the U.S.
European stocks climbed after Japan’s central bank unexpectedly expanded its asset-purchase target by 10 trillion yen ($128 billion) as it seeks to avoid a contraction in the world’s third-largest economy.
National benchmark indexes advanced in 14 of the 18 western-European markets. Germany’s DAX added 0.6 percent, France’s CAC 40 gained 0.5 percent, and the U.K.’s FTSE 100 rose 0.4 percent.
Porsche jumped 7.2 percent to 46.30 euros after the Braunschweig Regional Court dismissed the lawsuits. Porsche has faced multiple legal challenges since it disclosed on Oct. 26, 2008 that it controlled 74.1 percent of VW, partly through options, and was seeking to take over the company.
Inditex rose 3.7 percent to 95.31 euros after the owner of the Zara and Massimo Dutti chains reported a 32 percent jump in first-half net income to 944 million euros ($1.23 billion). The average estimate of 13 analysts compiled by Bloomberg had called for profit of 893.5 million euros. Sales for the six months through July gained 17 percent.
Oil dropped to a one-month low after U.S. crude inventories surged the most since March as production and imports rebounded from Hurricane Isaac.
Futures decreased as much as 3.3 percent after the Energy Department said supplies rose 8.53 million barrels last week, more than eight times what was projected in a survey. Imports arrived at the highest rate since January and output rose. Crude fell before the report on speculation Saudi Arabia is moving to reduce prices.
Crude oil for October delivery declined to $91.90 a barrel at 11:15 a.m. on the New York Mercantile Exchange.
Brent oil for November settlement fell $3.43, or 3.1 percent, to $108.60 a barrel on the London-based ICE Futures Europe.
Currently the pair is trading at around Y78.38
Gold gained to a maximum of 6.5 months after the announcement of the Bank of Japan to expand the program purchase of government bonds.
The sharp rise in prices, which began last week, was caused by the resumption of incentive programs of the European Central Bank and the U.S. Federal Reserve. On Wednesday, they were joined by the Bank of Japan expanded the asset purchase program to 10 trillion yen ($ 127 billion) to 80 trillion yen.
Stocks of gold-ETFs this week rose to a historic high 73.681 million ounces.
Experts link the return to power of gold to last year's absolute record $ 1.920,30 per ounce in the first place with the state of the U.S. economy.
October futures price of gold on the COMEX is now 1770.9 dollars per ounce.
EUR/USD $1.2900, $1.3000, $1.3100, $1.3120, $1.3150, $1.3260
USD/JPY Y79.00, Y78.60, Y78.40, Y77.90
GBP/USD $1.6200, $1.6100
EUR/CHF Chf1.2100
AUD/USD $1.0345, $1.0400-05, $1.0445, $1.0475, $1.0525, $1.0550
U.S. stock-index futures slightly rose as data showed new housing construction rose and the Bank of Japan increased its asset-purchase target.
Global Stocks:
Nikkei 9,232.21 +108.44 +1.19%
Hang Seng 20,841.91 +239.98 +1.16%
Shanghai Composite 2,067.83 +8.29 +0.40%
FTSE 5,876.12 +7.96 +0.14%
CAC 3,527.65 +14.96 +0.43%
DAX 7,368.61 +20.92 +0.28%
Crude oiul $94.60 -0,72%
Gold $1775.60 +0.25%
DuPont (DD) was initiated with Sector Perform at RBC Capital.
Data
00:30 Australia Leading Index July +0.5% +0.4%
00:50 Australia RBA Assist Gov Kent Speaks -
03:00 Japan BoJ Interest Rate Decision - 0.10% 0.10 0.10%
03:00 Japan BoJ Monetary Policy Statement -
07:30 Japan BOJ Press Conference -
09:00 Switzerland Credit Suisse ZEW Survey (Expectations) September -33.3 -25.0 -34.9
09:00 Eurozone Construction Output, m/m July -0.5% -0.3%
09:00 Eurozone Construction Output, y/y July -2.8% -4.7%
The yen fell to four-week low against the dollar after the Bank of Japan unexpectedly announced the expansion of the program of monetary stimulus to support growth and reduce the value of the currency.
The yen weakened against most of its 16 major counterparts after the central bank said it will increase the amount of asset purchase program, which is the main tool of monetary easing in the conditions close to zero interest rates, up to 80 trillion yen from 70 trillion yen and to extend its action for six months, until the end of 2013. Recall that
The euro continued its two-day decline against the dollar as market participants are waiting for data on the index of business activity in the manufacturing and services sectors, the euro area, which will be available tomorrow.
Australian dollar during the first half of the significantly higher against the dollar, which was caused by the publication of the index of leading indicators Westpac, which rose in July by 0.4%, compared with a gain of 0.5% last month. But the growth of the pair did not last long, and after optimism verse currency began to decline, losing much of the earnings position.
Swiss franc in early trading slightly stronger against the dollar, but published data on index of investor expectations according to Credit Suisse ZEW and were able to change the situation reversed. As it became known, the index fell more than many economists predicted that once led to the strengthening of the dollar.
EUR/USD: during the European session, the pair dropped sharply and is now trading in the minimum values at $ 1.3000
GBP/USD: the pair reached the maximum values of this week, but could not hold out and there has sharply declined, setting all-time low at $ 1.6200
USD/JPY: pair rose sharply, by setting high at Y79.22, followed by a correction, in which the rate fell to Y78.65
At 12:30 GMT the U.S. are data on the volume of building permits issued, the number of new foundations of bookmarks, the volume of sales in the secondary market in August. At the same time, the U.S. will publish a report on crude oil inventories from the Department of Energy in September. At 22:00 GMT New Zealand provide an index of economic confidence from Westpac for the 3rd quarter. At 23:50 GMT, Japan will announce the overall balance of trade in goods, the adjusted balance of trade in goods, changing the volume of exports of goods and changes in the volume of imports of goods for August.
EUR/USD
Offers $1.3200, $1.3165/75, $1.3115/25, $1.30726
Bids $1.3000, $1.2980, $1.2950, $1.2935/30, $1.2900
GBP/USD
Offers $1.6350, $1.6330/35, $1.6300, $1.6280, $1.6270/75
Bids $1.6200, $1.6180, $1.6150/40, $1.6120
AUD/USD
Offers $1.0570/80, $1.0540/50, $1.0520, $1.0490/5.00
Bids $1.0410/00, $1.0350/40
USD/JPY
Offers Y79.50, Y79.30
Bids Y78.80-60, Y78.50
EUR/JPY
Offers Y103.80/4.00, Y103.63
Bids Y102.60, Y102.40, Y100.80/60, Y100.50
EUR/GBP
Offers stg0.8150, stg0.8070/80
Bids stg0.8010/00, stg0.7970, stg0.7945/40
Growth of the major indexes opened trading in Europe, but at the moment indices show a mixed performance. Today, the ECB held an auction to provide dollar liquidity to the tune of 3.72 billion dollars at 0.64% for 7 days. Data on the volume of construction in the euro zone at an annual rate in July showed a decline of -4.7%.
FTSE 100 5,870.39 +2.23 +0.04%
CAC 40 3,507.68 -5.01 -0.14%
DAX 7,339.65 -8.04 -0.11%
Inditex SA shares gained 2.3% after the largest clothing retailer in the world reported an increase in revenue. Paper Lonmin Plc rose 3.9% after reaching an agreement with the payment of workers at its mines in South Africa. Porsche SE gained 5% after a German court dismissed two lawsuits alleging that the automaker manipulated stock prices in 2008.
EUR/USD $1.2400, $1.2450, $1.2250
USD/JPY Y79.25, Y79.15, Y79.00
EUR/JPY Y98.00
AUD/USD $1.0350, $1.0570
NZD/USD $0.8100, $0.8150
Asian stocks rose, with a regional benchmark index poised to close at the highest level since May, as the Bank of Japan boosted asset purchases, joining moves by the Federal Reserve last week to stimulate economic growth.
Nikkei 225 9,232.21 +108.44 +1.19%
S&P/ASX 200 4,418.4 +23.67 +0.54%
Shanghai Composite 2,060.13 +0.59 +0.03%
JFE Holdings Inc., Japan’s second-biggest steelmaker, climbed 2.1 percent after the BOJ moved to prevent a rising yen from undermining an economic recovery.
Nissan Motor Co. advanced 3.7 percent, recovering some of yesterday’s losses, as the carmaker resumed production in China after violent protests targeting Japanese companies in a dispute over control of a group of islands.
Japan Airlines Co. rose 1.1 percent on its first day of trading following the largest initial public offering since Facebook Inc.
00:30 Australia Leading Index July +0.5% +0.4%
00:50 Australia RBA Assist Gov Kent Speaks -
03:00 Japan BoJ Interest Rate Decision - 0.10% 0.10 0.10%
03:00 Japan BoJ Monetary Policy Statement -
07:30 Japan BOJ Press Conference -
The yen fell to a four-week low after the Bank of Japan joined the Federal Reserve in expanding monetary easing. The Japanese currency weakened against most of its 16 major counterparts after the BOJ said it will add 10 trillion yen ($127 billion) to its 45 trillion-yen fund that buys assets including government debt. Five of 21 analysts surveyed by Bloomberg News had predicted BOJ easing while 11 forecast the action by October. The move came after the Fed introduced purchases of $40 billion of mortgage debt a month on Sept. 13 in a third round of so- called quantitative easing.
Demand for the euro was limited ahead of a report tomorrow that economists say will show services and manufacturing industries shrank in the currency bloc for an eighth month. A euro-zone composite index for services and manufacturing industries was at 46.6 in September, little changed from 46.3 the prior month, according to the median estimate of economists surveyed by Bloomberg. London-based Markit Economics will release the figure that’s based on a poll of purchasing managers in the industries tomorrow. A reading below 50 indicates contraction.
Spain, the fourth-largest economy in the currency bloc, will auction 3- and 10-year securities tomorrow. The nation’s benchmark 10-year note yield has fallen to 5.9 percent from the euro-era record of 7.75 percent on July 25 since the European Central Bank unveiled an unlimited bond-purchase program on Sept. 6 aimed at lowering government borrowing costs.
EUR/USD: during the Asian session, the pair rose, departing from the previous day's low.
GBP/USD: during the Asian session, the pair rose to yesterday's high.
USD/JPY: during the Asian session, the pair rose above Y79.00.
There is a light European calendar Weds, starting with the UK BOE minutes from the September meeting at 0830GMT.
Yesterday the euro continues to decline in the dollar and yen, despite the figures exceeded expectations of confidence of investors and analysts to the German economy and the euro zone.
Index of investor and analyst expectations for the economy in Germany for the next six months (confidence index) calculated by research institute ZEW, rose in September for the first time in 5 months - to minus 18.2 points from minus 25.5 points in August. However, the value of the indicator remains negative, which is not inspired investors. Index of investors and analysts to the current situation in the German economy in September, down from 18.2 points to the lowest since June 2010, 12.6 points. Analysts on average forecast a rise of the first indicator to minus 20 points and the second reduction to 18 points. Overall, for the euro area index was -3.8 -16.3 points at the forecast.
Also it was announced that Spanish borrowing costs fell at auction, the first once since the European Central Bank on September 6, announced plans to buy government debt in the region to contain borrowing costs.
The demand for the yen is still limited due to the forecasts, the Bank of Japan will take an intervention after a meeting on September 17-18. More active than an intervention, investors expect the Bank of Japan's new measures to support the economy after the Federal Reserve and the European Central Bank.
The Bank of Japan increased the size of the fund to buy assets such as government debt by 5 trillion yen to 45 trillion yen in July, and continued to hold the interest rate at around 0.1%, which was established in October 2010.
Asian stocks fell as rising tensions between Japan and China pushed down shares of Tokyo- listed companies from Honda Motor Co. to Fast Retailing Co. amid signs of slowing growth in the U.S. and a worsening European debt crisis.
Nikkei 225 9,123.77 -35.62 -0.39%
S&P/ASX 200 4,394.7 -7.83 -0.18%
Shanghai Composite 2,059.54 -18.96 -0.91%
BHP Billiton Ltd., the world’s largest mining company, slid 0.6 percent in Sydney as metal prices dropped.
Fast Retailing, Asia’s biggest apparel chain, tumbled 7 percent, in Tokyo as it was forced to shut stores in China amid anti-Japanese protests.
Hokuriku Electric Power Co. surged 6.4 percent after a Japanese government minister signaled he has no plans to stop construction of nuclear reactors.
European stocks declined the most in two weeks as investors bet that the rally in the Stoxx Europe 600 Index to a 15-month high overshot the economic outlook and prospects for corporate earnings.
German investor confidence rose for the first time in five months in September, a report showed today.
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 minus 18.2 from minus 25.5 in August. Economists forecast a gain to minus 20.
National benchmark indexes fell in 15 of the 18 western European markets. Germany’s DAX slid 0.8 percent, while the U.K.’s FTSE 100 lost 0.4 percent. France’s CAC 40 dropped 1.2 percent.
Akzo Nobel dropped 5.5 percent to 46.16 euros, the biggest decline since September 2011. Buechner will take leave for one month to recuperate from fatigue on the advice of his doctor, Amsterdam-based Akzo said. He plans to return in the first half of October and Chief Financial Officer Keith Nichols will be the point-person in the interim period.
Aviva lost 4 percent to 344.9 pence. Deutsche Bank AG downgraded the stock to hold from buy and Bank of America Corp. cut its rating to underperform, the equivalent of sell, from neutral.
Against the background of remission of euphoria about the launch of a new round of quantitative easing, the U.S. stock indices, a tender without a trend.
The pressure on the index was lowering earnings forecast by FedEx (FDX), which provides mail, courier and other logistics services worldwide. The company lowered its earnings forecast for the full fiscal year to a range of $ 6.20-$ 6.60 per share. Average market forecast of $ 7.25.
Today, FedEx has published its financial report for the 1st quarter of the fiscal year, which ended Aug. 31. The company's profit for the period was $ 1.45 per share. The average market forecast was $ 1.40.
Earlier, on September 4 FedEx lowered its forecast for earnings for the 1st quarter to a range of $ 1.37-$ 1.43.
The financial results of FedEx perceived by market participants as a barometer of the economic situation, as delivery services used by companies in all sectors.
Decrease in futures constrained data released by the Ministry of Finance on the inflow of capital, which results in July were higher than forecast ($ 67.0 billion vs. $ 45.3 billion and the value of the June $ 9.3 billion).
In the composition of the index DOW components showed mixed performance. Leaders are stocks Kraft Foods (KFT, +1.83%). More than the others fell in the share price Alcoa (AA, -0.94%).
Key economic sectors also showed a mixed trend. More than other health sector increased (+0.4%). Stronger than the other fell into the price of the financial sector (-0.6%).
Office furniture manufacturer HNI sank 15.1% after management reported that third-quarter adjusted earnings will be less than the previous forecast of its own by a decline in demand for products.
Quotes manufacturer of slot machines WMS Industries fell by 6.7% on a downgrade by analysts shares Deutsche Bank, which referred to the aggressive use of credit and the increasing dependence on non-core activities.
Change % Change Last
Gold 1,774 +3 +0.19%
Oil 95.50 -1.14 -1.18%Change % Change Last
Nikkei 225 9,123.77 -35.62 -0.39%
S&P/ASX 200 4,394.7 -7.83 -0.18%
Shanghai Composite 2,059.54 -18.96 -0.91%
FTSE 100 5,868.16 -25.36 -0.43%
CAC 40 3,512.69 -41.00 -1.15%
DAX 7,347.69 -56.00 -0.76%
Dow 13,565 +12 +0.09%
Nasdaq 3,178 -1 -0.02%
S&P 500 1,459 -2 -0.15%
(pare/closed(00:00 GMT +02:00)/change, %)
EUR/USD $1,3042 -0,54%
GBP/USD $1,6238 -0,06%
USD/CHF Chf0,9283 +0,10%
USD/JPY Y78,78 +0,08%
EUR/JPY Y102,75 -0,47%
GBP/JPY Y127,91 +0,02%
AUD/USD $1,0452 -0,17%
NZD/USD $0,8271 +0,08%
USD/CAD C$0,9746 0,00%
00:30 Australia Leading Index July +0.5% +0.4%
00:50 Australia RBA Assist Gov Kent Speaks -
03:00 Japan BoJ Interest Rate Decision - 0.10% 0.10
03:00 Japan BoJ Monetary Policy Statement -
07:30 Japan BOJ Press Conference -
09:00 Switzerland Credit Suisse ZEW Survey (Expectations) September -33.3 -25.0
09:00 Eurozone Construction Output, m/m July -0.5%
09:00 Eurozone Construction Output, y/y July -2.8%
12:30 U.S. Building Permits, mln August 0.812 0.795
12:30 U.S. Housing Starts, mln August 0.746 0.765
14:00 U.S. Existing Home Sales August 4.47 4.58
14:30 U.S. Crude Oil Inventories - +2.0
22:00 New Zealand ANZ Job Advertisements (MoM) August +0.7%
23:00 U.S. FOMC Member Richard Fisher Speaks -
23:50 Japan Adjusted Merchandise Trade Balance, bln August -325.7 -384.6
© 2000-2025. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
