Forex-novosti i prognoze od 27-12-2011

The euro traded at almost its lowest level since January against the dollar as concern lingered that Europe’s debt crisis will slow regional economic growth. The 17-nation currency fluctuated before Italy sells bills and bonds tomorrow. Italy is scheduled to sell 9 billion euros ($11.8 billion) of 179-day bills and as much as 2.5 billion euros of zero-coupon 2013 securities tomorrow. It will auction debt due in 2014, 2018, 2021 and 2022 the following day. Ten-year bond yields in Italy advanced six basis points, or 0.06 percentage point, to 7.04 percent, above the 7 percent level that spurred Greece, Ireland and Portugal to seek bailouts.

The Swiss franc and the yen also appreciated against the dollar as U.S. consumer confidence gained more than forecast this month. Confidence among U.S. consumers rose in December to the highest level in eight months as an improving job market helped regain all the ground lost following the mid-year government budget battle and credit-rating downgrade. The Conference Board’s index increased to 64.5, exceeding all estimates in a Bloomberg News survey and the highest since April, from a revised 55.2 reading in November, figures from the New York-based private research group showed today. The measure averaged 53.7 during the recession that ended in June 2009.

The yen tends to gain during periods of financial stress as Japan’s export-reliant economy doesn’t need foreign capital to balance current accounts -- the broadest measure of trade. The currency has strengthened against all 16 of its most-traded peers this year, rising 4.2 percent against the dollar and 6.7 percent versus the euro. Japanese officials sold at least 14.3 trillion yen this year to stem gains that cut profits for exporters from Toyota Motor Corp. to Nintendo Co., and Finance Minister Jun Azumi has pledged more action. Intervention in 2012 may fail again as financial turmoil attracts investors to the world’s third-most traded currency for its low volatility.

European stocks closed little changed after data on U.S. house prices and consumer confidence gave conflicting signals about the strength of the world’s largest economy. The Standard & Poor’s/Case-Shiller index of property values in 20 U.S. cities dropped 3.4 percent from October 2010 after decreasing 3.5 percent in the year ended September, the New York-based group said today. The median forecast of 27 economists in a Bloomberg survey was for a 3.2 percent decrease.

Confidence among U.S. consumers rose as an improving job market helped regain all the ground lost following the mid-year government budget battle and credit-rating downgrade. The Conference Board’s index increased to 64.5 this month, exceeding all estimates in a Bloomberg News survey, from a revised 55.2 reading in November, figures from the New York-based private research group showed. The measure averaged 53.7 during the recession that ended in June 2009

The volume of share trading across Europe was reduced today as U.K. and Irish markets remained closed for a second day following the Christmas holiday.

National benchmark indexes gained in 10 of the 16 western European markets trading today. France’s CAC 40 Index added 0.2 percent and Germany’s DAX advanced 0.4 percent. The Swiss Market Index fell 0.1 percent.

Banco Comercial Portugues rallied 6 percent to 12 euro cents and Banco Espirito Santo surged 10 percent to 1.29 euros. Portugal may recapitalize its banks without becoming a shareholder, Jornal de Negocios reported, without saying where it got the information.

Wacker Chemie AG and Symrise AG led chemical makers higher. The German companies added 1.2 percent to 61.56 euros and 2.3 percent to 20.26 euros, respectively.

UniCredit and Mediobanca lost 4.7 percent to 6.58 euros and 4.5 percent to 4.54 euros, respectively, in Milan trading. Intesa Sanpaolo SpA tumbled 3 percent to 1.27 euros.

Italy plans to sell almost 450 billion euros of debt next year to pay for maturing bonds and bills and cover the government’s budget deficit, Il Sole 24-Ore said, citing an interview with Maria Cannata, director of public debt.

Sky Deutschland AG declined 1.9 percent to 1.39 euros. The company won’t show Paramount Pictures Corp.’s movies in 2012, and the change will damp enthusiasm for its movie channel, according to Financial Times Deutschland. Paramount’s films include “Mission Impossible,” “TinTin” and “Titanic.”

U.S. stocks were little changed, after the longest rally since September, as concern about Europe’s debt crisis and a drop in American home prices overshadowed better-than-estimated consumer confidence data.

Confidence among U.S. consumers rose in December to the highest level in eight months as an improving job market helped regain all the ground lost following the mid-year government budget battle and credit-rating downgrade. Another report showed that residential real estate prices dropped more than forecast in the year ended October.

German notes rose, pushing the rate on two-year notes to less than 0.2 percent for the first time, as investors sought the safest assets before Italy auctions as much as 20 billion euros ($26.2 billion) of debt.

Stock swings that reached twice the five-decade average left the S&P 500 with the smallest price change in 41 years and utilities, soapmakers and health-care providers at the highest valuations since 2008.

Dow 12,310.69 +16.69 +0.14%, Nasdaq 2,626.21 +7.57 +0.29%, S&P 500 1,267.31 +1.98 +0.16%

Mead Johnson Nutrition Co., the leading seller of children’s formula, jumped 5.3 percent after saying tests showed no bacteria in a batch of the product used by a baby who died.

MetLife Inc. rose 1 percent as General Electric Co.’s financial- services division will acquire its U.S. retail deposit business.

Sears Holdings Corp. tumbled 21 percent after saying it will close as many as 120 Kmart and Sears full-line stores.

Oil rose to a two-week high after confidence among U.S. consumers beat expectations in December, bolstering the outlook for fuel demand in the biggest crude- consuming country. Futures rose as much as 1 percent as the Conference Board’s index climbed to the highest level since April, exceeding all estimates in a Bloomberg News survey. The consumer confidence measure increased to 64.5 from a revised 55.2 reading in November. It averaged 53.7 during the recession that ended in June 2009, figures from the New York- based private research group show.

Crude oil for February delivery rose to $100.74 a barrel on the New York Mercantile Exchange. Futures have climbed 9.9 percent this year after increasing 15 percent in 2010.

Brent oil for February settlement increased 34 cents, or 0.3 percent, to $108.30 a barrel on the London-based ICE Futures Europe exchange. The European contract’s premium to crude in New York was $8.28 a barrel at the close of trading Dec. 23, the smallest differential based on settlement prices since March 8.

Resistance 3: Y79.50 (high of October)

Resistance 2: Y79.00 (Nov  1 high, МА (200) for D1)

Resistance 1: Y78.20/30 (Nov 29 and  Dec 23 high)

Current price: Y77.86

Support 1:Y77.60 (Dec 13 and 16 lows)

Support 2:Y77.50 (Dec 9 low)

Support 3:Y77.10 (Dec 8 low)

Nikkei 225 8,441 -38.78 -0.46%

Hang Seng Closed

S&P/ASX 200 Closed

Shanghai Composite 2,166 -23.90 -1.09%

The Dollar held losses from last week before U.S. data forecast to show consumer confidence rose to the most since July and regional manufacturing gauges increased, reducing demand for haven assets.

The Dollar Index, which tracks the greenback against the currencies of six major U.S. trading partners, slid 0.1 percent to 79.853 as of 1:43 p.m. in Tokyo, having lost 0.2 percent last week.

Australia’s currency ended a five-day rally as Asian stocks slid.

Demand for the euro damped before Italy sells bills and bonds this week amid concern Europe’s debt crisis will drive up borrowing costs for the region’s larger economies. Italy is scheduled to sell 9 billion euros ($11.8 billion) of 179-day bills and as much as 2.5 billion euros of zero-coupon 2013 bonds tomorrow. The nation will auction debt due in 2014, 2018, 2021 and 2022 the following day.

Ten-year bond yields in Italy advanced six basis points to 6.98 percent on Dec. 23, approaching the 7 percent level that spurred Greece, Ireland and Portugal to seek bailouts.

EUR/USD: on Asian session the pair gain.

GBP/USD: on Asian session the pair gain.

USD/JPY: on Asian session the pair fell.

Tuesday there will begin at 07:00 GMT Switzerland the publication of the Consumption Indicator from UBS for November. At 14:00 GMT in the USA there will be S&P/Case-Shiller Home Price Indices for October. At 15:00 GMT the USA will be published with the indicator of consumer confidence for December (growth up to 58.9 against 56.0 the last month is expected). In end of day we are expected with the block of statistics from Japan.

Asian stock markets are mixed in holiday-thinned trading Monday after weak U.S. indicators dulled optimism about prospects for the world's biggest economy.

Several markets were closed including Hong Kong, Singapore, Australia, Indonesia, Malaysia and New Zealand. Oil traders were also on holiday. Wall Street and European stock markets are closed Monday because Christmas fell on a Sunday this year.

Japan's Nikkei 225 stock index finished up 1% at 8,479.34 after being closed for a public holiday Friday while South Korea's Kospi fell 0.6% to 1,856.70. China's Shanghai Composite Index shed 0.7% to 2,190.11. Markets in India and the Philippines gained while benchmarks inTaiwan and Thailand fell.

King Yuan Electronics Co. (2449 TT): The Taiwanese company that provides testing services to semiconductor manufacturers plans to buy back 30 million common shares, or 2.45 percent of outstanding stock, from the open market, according to company statement to Taiwan stock exchange. The stock fell 0.7 percent to NT$9.61.

Olympus Corp. (7733 JT): The Japanese camera maker reeling from a $1.7 billion accounting fraud amended earnings reports initially filed Dec. 14 to correct mistakes including rounding errors. None of the revisions are significant, Yasutoshi Fujiwara, a spokesman for Tokyo-based Olympus, said by phone. The shares rose 0.8 percent to 1,026 yen.

Pollux Properties Ltd. (POLUX SP): The developer exercised an option to purchase a Singapore property for S$25 million ($19.3 million). The company plans to redevelop the site, according to a Dec. 23 statement. The stock last traded at 50 Singapore cents on Dec. 22.

Ssangyong Engineering & Construction Co. (012650 KS): Korea Asset Management will receive letters of intent to sell a 50.1 percent stake in Ssangyong Engineering by Jan. 27, according to a statement on Kamco’s website. The stock rose 0.6 percent to 7,020 won.

Resistance 3: Y79.50 (Oct 31 high)

Resistance 2: Y79.00 (Nov 1 high)

Resistance 1: Y78.30/45 (area of Nov 1-4 high)

The current price: Y77.91

Support 1:Y77.85 (Dec 26 low)

Support 2:Y77.60 (Dec 16 low)

Support 3:Y77.10 (Dec 8 low)

Comments: the pair is corrected in uptrend. In focus support Y77.85.

Resistance 3: Chf0.9540/45 (area of Dec 14-15 high)

Resistance 2: Chf0.9480 (Dec 13 high)

Resistance 1: Chf0.9400 (Dec 22 high)

The current price: Chf0.9356

Support 1: Chf0.9335 (Dec 23 low)

Support 2: Chf0.9305 (Dec 22 low)

Support 3: Chf0.9270 (Dec 20 low)

Comments: the pair is consolidated. In focus resistance Chf0.9400.

Change % Change Last

Nikkei 225 8,479 +84.18 +1.00%

Hang Seng closed

S&P/ASX 200 closed

Shanghai Composite 2,190 -15.11 -0.69%

FTSE 100 closed

CAC 40 closed

DAX closed

Dow closed

Nasdaq closed

S&P 500 closed

10 Year Yield closed

Oil closed

Gold closed