CFD Markets News and Forecasts — 24-08-2012

The euro fell against the dollar amid comments from the German Parliament, who said that the Bundestag not want Greece to provide new facilities or extend the time for the fulfillment of its obligations.
Also, the pressure on the euro also had a statement of the ECB that the completion of the plan for the purchase of bonds to wait for a vote on the issue of the European Stabilization Mechanism (ESM). Against this background of increased yield of Spanish government bonds.
But the euro rose sharply after market participants have submitted a letter Fed Chairman Bernanke, in which he hinted at the possibility of further stimulus. Also today, German Chancellor Angela Merkel said she wants that Greece remains in the monetary union, and that Germany is ready to help the Greek government.
Significant impact on the growth in the value of the single currency brought news that the ECB is considering the possibility of establishing a target range for the yield, but the final decision will be known after the meeting on monetary policy, which will be held on September 6
The Australian dollar fell after the head of the Reserve Bank of Australia Glenn Stevens said that the currency is likely to depreciate if the mining boom is over. He also said that the investment resources of the country will reach its peak "in the next year or two."
The pound fell against the dollar after the release of statistics. GDP data were generally as expected: the indicator was revised to -0.5% q / q (at the level of the average forecast) against preliminary level of -0.7%. In the first quarter a decline of 0.3% q / q. Sales of pounds for the most part these were due to changes in the volume of commercial investments, which were much worse than expected.

European stocks were little changed, with the Stoxx Europe 600 Index posting its first weekly drop since June, as German Chancellor Angela Merkel said Greece must stick to its commitments to stay in the euro area, and a news report said the European Central Bank is considering setting yield band targets.

A gauge of mining companies was among the main losers, with Rio Tinto Group slumping 1.6 percent and BHP Billiton Ltd. (BHP) sliding 1.4 percent. NKT Holding (NKT) A/S tumbled 9 percent after the maker of cables and industrial vacuum cleaners reported second- quarter sales that missed estimates. Nokia Oyj (NOK1V) rallied 4.2 percent.

The Stoxx 600 added 0.1 percent to 268.0 in London after earlier falling as much as 0.6 percent. European stocks posted a 1.8 percent drop this week, snapping 11 weeks of gains.

Stocks rebounded in the last half hour of trading after Reuters reported the ECB is considering setting yield band targets under a new bond-buying program. Reuters cited unnamed central bank people.

In the U.S., Federal Reserve Chairman Ben S. Bernanke said there’s “scope for further action” by the central back to spur economic growth.

National benchmark indexes fell in nine of the 18 western European markets.

FTSE 100 5,776.6 0.00 0.00% CAC 40 3,433.21 +0.65 +0.02% DAX 6,971.07 +21.50 +0.31%

Rio Tinto and BHP Billiton retreated 1.6 percent to 2,910 pence and 1.4 percent to 1,933 pence, respectively. Anglo American Plc (AAL) dropped 2.9 percent to 1,885 pence.

Eurasian Natural Resources Corp. (ENRC) decreased 3.6 percent to 338.9 pence after ING Groep NV said the producer of metals in Kazakhstan may need to consider selling some assets or raise capital via new equity, citing its rapidly escalating debt burden as a key concern.

NKT Holding tumbled 9 percent to 191.10 kroner after the maker of cables and industrial vacuum cleaners reported second- quarter sales of 3.9 billion kroner ($667 million), missing analysts’ estimates of 4.15 billion kroner. Earnings before interest, taxes, depreciation and amortization were 229 million kroner, below the 300 million-kroner analyst projection.

Ashmore Group Plc retreated 4.3 percent to 331.5 pence after Haley Tam, an analyst at Citigroup Inc. cut the U.K. fund manager to sell from neutral.

Nokia jumped 4.2 percent to 2.49 euros, for an eighth consecutive day of gains.

Anheuser-Busch InBev NV (ABI), the world’s biggest brewer, rose 1.9 percent to 65.40 euros, following a gauge of European (SXXP) food and beverage shares higher. Chief Strategy Officer Jo Van Biesbroeck bought 200,000 shares for 13.1 million euros on Aug. 17, according to regulatory filings.

Danone (BN) SA, the world’s largest yogurt maker, gained 1.4 percent to 51.01 euros, while Marine Harvest ASA (MHG), the world’s biggest salmon farmer, climbed 3.9 percent to 4.51 kroner as investors bought the stock in anticipation of increased fish prices.

Oil continued its fourth weekly gain on concern that the conflict in the Middle East will cause disruptions in the supply and after German Chancellor Angela Merkel said that Germany is ready to assist the Greek government in the fight against the economic crisis. She also said she wanted Greece to remain in the Eurozone.

Prices added, after Israeli Prime Minister Benjamin Netanyahu said that "the latest reports on Iran's nuclear program is further proof that he intended to create nuclear weapons. Just yesterday we received additional evidence that Iran is making rapid strides to develop nuclear weapons while ignoring the requirements of the international community. Iran has installed hundreds of new centrifuges at Fordow mountain in recent months, which could accelerate the production of nuclear fuel "

Traders are also concerned by the situation in respect of Tropical Storm Isaac, which may cause temporary disruptions in oil production. It is expected that he will show his strength on Sunday evening or Monday morning.

October futures price of U.S. light crude oil WTI (Light Sweet Crude Oil) on the NYMEX is now $ 96.84 per barrel.

October futures price of North Sea Brent crude oil mix is ​​now $ 114.84 a barrel on the ICE Futures Europe Exchange.

Gold prices fell slightly on Friday, as the appetite for more risky assets fell, and investors began to invest their money in the strengthening of the dollar, after yesterday it peaked in the last four and a half months. But in spite of this the price of gold continues to hold near three-month high.

Gold futures rose more than 3% this week after the Fed minutes were given hope for another round of quantitative easing, but in the case, if the U.S. economy does not significantly improve.

Such a move is likely to have a positive effect on the value of gold, and will thus increase liquidity and keep long-term interest rates low.

Also today it was announced that the gold reserves ETFs, which issue securities backed by physical metal, reached a record 71.253 million ounces, and showed the greatest in the weekly inflow in absolute terms since February.

An important factor influencing the decline in demand for gold is the high price of gold in India, which is the largest consumer of the precious metal. International Convention on the gold in Hyderabad, dealers reported that import duties, which were raised earlier this year by 4%, can be further increased to 7%. Also, local dealers are reporting an increase of delivery of gold to India through informal channels.

The cost of the August gold futures on the COMEX is now 1667 dollars per ounce.

- Difficult greek econ. environment set to continue

- Deepening greek recession complicates budget strategy

- Greek ratings show downgrade potential if fiscal shortfall

- Greek fiscal shortfalls are likely

U.S. stock futures fell on concern grew over Europe’s debt crisis.
Futures decline amid investor concern that the euro area’s leaders aren’t making progress in solving the region’s debt crisis.
Merkel said at a joint press conference with Samaras that Germany is ready to help the Greek government as it takes the necessary steps to resolve his country’s economic woes. Samaras will go to Paris for a meeting with French President Francois Hollande tomorrow after concluding his visit to Berlin today.

Global Stocks:

Nikkei  9,070.76 -107.36 -1.17%
Hang Seng 19,880.03 -252.21 -1.25%
Shanghai Composite 2,092.1 -20.97 -0.99%
FTSE  5,750.63 -25.97 -0.45%
CAC  3,403.69 -28.87 -0.84%
DAX 6,902.65 -46.92 -0.68%
Crude oil $96.01 -0,27%
Gold $1670.90 -0.11%

Data:
08:30 United Kingdom GDP, q/q (revised) Quarter II -0.3% -0.5% -0.5%
08:30 United Kingdom GDP, y/y (revised) Quarter II -0.2% -0.6% -0.5%
08:30 United Kingdom Business Investment, q/q Quarter II +1.9% +2.8% -1.5%
08:30 United Kingdom Business Investment, y/y Quarter II +14.8% +3.6% +1.7%

The euro fell for the first time in five days against the dollar as Greek Prime Minister Antonis Samaras began meetings with his German and French counterparts to ask for more time to meet economic targets.
The common currency pared the biggest weekly gain versus the greenback since February after a German lawmaker said Europe’s largest economy can’t make more money available for Greece. Samaras is meeting German Chancellor Angela Merkel today and French President Francois Hollande tomorrow.
Merkel said Germany and France will keep pressure on Greece to overhaul its economy when she meets Samaras, who is seeking more time to fix his debt-ravaged country.
The pound dropped for a second day against the dollar after a government report showed the U.K. economy contracted in the second quarter.
Gross domestic product shrank 0.5%, compared with a 0.7% decline estimated on July 25, the Office for National Statistics said in London.

EUR/USD: during the European session, the pair declined, reached $1.2500 area.

GBP/USD: the pair showed low in ​$1.5820 area, later rate slightly retreated higher.

USD/JPY: the pair remained within yesterday's range.

Greece working to reduce budget deficit, restore trust;

held especially constructive talks with Merkel;

Greece will meet its obligations;

•  

  Greece working to reduce budget deficit, restore trust;

   

• held especially constructive talks with Merkel;

• Greece will meet its obligations;

• new Greek coalition will show results very soon.

•  

  Euro is more than a currency;

   

• Convinced Greek govt committed to solving problems;

• Expect Greece to implement its commitments;

• Must wait for Troika Report on Greece.

•  

  Euro is more than a currency;

   

• Convinced Greek govt committed to solving problems;

• Expect Greece to implement its commitments;

• Must wait for Troika Report on Greece.

EUR/USD

Offers $1.2650, $1.2600, $1.2590, $1.2550/55

Bids $1.2500, $1.2470/50, $1.2430, $1.2415/00

AUD/USD

Offers $1.0500, $1.0470/80, $1.0450, $1.0430/35, $1.0420

Bids $1.0350, $1.0320, $1.0300, $1.0250

European  stocks were little changed before meetings between German, French and Greek leaders to discuss Greece’s second bailout program. Asian stocks fell, while U.S. index futures were little changed.

German Chancellor Angela Merkel said she and French President Francois Hollande will coordinate on their approach to Greece to keep pressure on the country at the heart of Europe’s debt crisis to overhaul its economy.

Rio Tinto and BHP Billiton retreated 3.2% and 1.9% respectively.

NKT Holding tumbled 7.8% after company reported second- quarter sales was below consensus.

EUR/USD $1.2450, $1.2500, $1.2510, $1.2550

USD/JPY Y78.50, Y79.55, Y79.75

GBP/USD $1.5850, $1.5700

USD/CHF Chf0.9700

AUD/USD $1.0450, $1.0500, $1.0300, $1.0290

AUD/JPY Y82.00

Asian-Pacific stocks fell on signs of slower growth in the U.S. and China and amid concern Europe’s leaders aren’t making progress in solving the region’s debt crisis.

On result of today’s session:

Nikkei  9,070.76 -107.36 -1.17%

Hang Seng 19,880.03 -252.21 -1.25%

Shanghai Composite 2,092.1 -20.97 -0.99%

S&P/ASX  4,349 -34.71 -0.79%

Shares of Nissan Motor Co. fell 1.5%. Shares of Aluminum Corp. of China fell 1.8%. Shares of Makita Corp. fell 1.1%.

The euro fell  against the dollar as Greek Prime Minister Antonis Samaras prepared to meet with his German and French counterparts to ask for more time to meet economic targets.
The common currency pared the biggest weekly gain versus the greenback since February after a German lawmaker said Europe’s largest economy can’t make more money available for Greece. Samaras will meet German Chancellor Angela Merkel today and French President Francois Hollande tomorrow. The Australian dollar weakened after Reserve Bank Governor Glenn Stevens said the currency would probably fall if a mining boom ends.

EUR/USD: during the Asian session, the pair consolidated in $1.2550 - $1.2570 area. Later the pair fell.

GBP/USD: during the Asian session, the pair consolidated in $1.5850 - $1.5870 area. Later the pair fell.

•  

  resolving Europe's problems to take long time;

   

• adverse effects of high yen bigger than benefits;

• aware of adverse effects of high yen on Japan;

• BOJ cannot buy foreign bonds for weakening yen;

• wouldn't surprise markets on policy decisions.

•  

  resolving Europe's problems to take long time;

   

• adverse effects of high yen bigger than benefits;

• aware of adverse effects of high yen on Japan;

• BOJ cannot buy foreign bonds for weakening yen;

• wouldn't surprise markets on policy decisions.

Asian stocks advanced, with the region’s benchmark index set for its highest close since May, on speculation central banks in the U.S. and China will ease monetary policy amid signs growth is slowing.

Change % Change Last

Oil 96.04 -0.23 -0.24%

Gold 1,673.10 +0.30 +0.02%

Change % Change Last

Nikkei 225 9,178.12 +46.38 +0.51%

S&P/ASX 200 4,383.7 +7.66 +0.17%

Shanghai Composite 2,113.12 +5.40 +0.26%

FTSE 100 +2.40 +0.04%
CAC 40 3,432.56 -29.09 -0.84%
DAX 6,949.57 -68.18 -0.97%
Dow 13,057.77 -114.99 -0.87%
Nasdaq 3,053.40 -20.27 -0.66%
S&P 500 1,402.15 -11.34 -0.80%

(pare/closed(00:00 GMT +02:00)/change, %)             

EUR/USD      $1,2563 +0,26%   

GBP/USD      $1,5857 -0,15%   

USD/CHF      Chf0,9556 -0,31%

USD/JPY      Y78,54 -0,01%     

EUR/JPY       Y98,66 +0,24%    

GBP/JPY       Y124,53 -0,16%   

AUD/USD     $1,0438 -0,67%   

NZD/USD      $0,8125 -0,16%   

USD/CAD     C$0,9937 +0,49%

07:45 Japan          BOJ Governor Shirakawa Speaks        -                         

08:30 United Kingdom              GDP, q/q (revised)         Quarter II    -0.3% -0.5%

08:30 United Kingdom              GDP, y/y (revised) Quarter II    -0.2% -0.6%

08:30 United Kingdom              Business Investment, q/q        Quarter II    +1.9%         +2.8%        

08:30 United Kingdom              Business Investment, y/y         Quarter II    +14.8%       +3.6%        

12:30 U.S.            Durable Goods Orders    July    +1.6%         +2.8%        

12:30 U.S.            Durable Goods Orders ex Transportation      July    -1.1% +0.5%        

12:30 U.S.            Durable goods orders ex defense      July    -1.4% -0.4%

13:00 Belgium                Business Climate  August         -11.3  -10.8