Новини ринків

The euro rose from a eight-month low versus the dollar after Federal Reserve Chairman Ben S. Bernanke said he’s ready to take additional steps to boost the economy, increasing bets the central bank may introduce further easing. 
The 17-nation currency rose for the first time in three days against the greenback on speculation that the U.S. central bank may implement a third round of quantitative easing, which would debase its currency. The euro extended its gains and higher-yielding currencies rose as U.S. stocks erased losses. The Australian dollar declined to the least in more than a year versus the greenback after the Reserve Bank of Australia held its key rate at 4.75 percent. 
The euro appreciated 1 percent to $1.3308 at 12:16 p.m. in New York, from $1.3176, after touching $1.3146, the weakest since Jan. 13. It rose 1.3 percent to 102.26 yen from 100.97 yen yesterday. It touched 100.76, the least since June 2001. The dollar rose 0.3 percent to 76.85 yen. 
The euro traded at 27.9 on its 14-day relative strength index against the dollar, falling below 30 for a second day. It was at 29 on a similar index versus the yen. A reading below 30 signals that an asset may be due to reverse direction. 
The franc fell against the euro amid speculation that the Swiss National Bank may adjust the cap set last month to further weaken the currency.

European stocks dropped for a third day, the longest losing streak in four weeks, as policy makers signaled they may renegotiate terms of Greece’s bailout, deepening concern about the impact of the debt crisis. 
FTSE 100 4,944 -131.06 -2.58%, CAC 40 2,851 -76.28 -2.61% , DAX 5,217 -159.99 -2.98% Dexia SA (DEXB) tumbled to a record low as the board asked Belgium’s biggest bank by assets to solve its “structural problems.” Deutsche Bank AG (DBK) slid 4.3 percent after abandoning its 2011 earnings forecast. National Bank of Greece SA (ETE) sank to the lowest since 1996. Air France-KLM (AF) Group retreated to a 20- year low after the head of the IATA industry association said profit projections may be unsustainable.

Today, gold has shown a sharp decline against the backdrop of growing anxiety about the Greek debt crisis.
December futures traded in New York fell to $ 1613 per ounce and is currently traded at around $ 1624 per troy ounce.

U.S. stocks pared losses as the cheapest valuations for the Standard & Poor’s 500 Index since 2009 lured investors and Federal Reserve Chairman Ben S. Bernanke said he is ready to take more steps to boost growth.
Technology and consumer discretionary companies reversed early losses. Intel Corp. and Sears Holdings Corp. paced advances among the largest companies, rising at least 1.1 percent. AMR Corp. (AMR) surged 17 percent after analysts said the parent of American Airlines is unlikely to file for bankruptcy. Utility and telephone companies dropped more than 1.6 percent for the biggest declines among 10 groups in the S&P 500.
The S&P 500 slid 0.6 percent to 1,092.19 at 11:31 a.m. New York time, after losing as much as 2.2 percent. The Dow Jones Industrial Average fell 149.55 points, or 1.4 percent, to 10,505.75 today.

Offers seen at $1.3255/60, stronger at $1.3285/90. Currently the pair at $1.3241.

• ECB balance sheet grew less than half the pace of Fed;
• ECB cannot substitute for governments.

U.S. stock-index futures declined as Europe’s policy makers struggled to reassure investors they can contain the region’s debt crisis.

• expect inflation above 2% through 2011, then lower
• expect very moderate gdp growth in EMU in 2H
• September 3 pct HICP mostly due to oil

Data:

EUR/USD: the pair holds in $1.3150-$ 1.3230.

GBP/USD: the pair fell in $1.5380 area.

USD/JPY: the pair holds in Y76.50-Y76.75.

Resistance 3: Chf0.9500 (Feb 22 high)

Resistance 3: $ 1.5530/40 (area of Sep 29-30 low and МА(200) for Н1)

Resistance 3: $ 1.3380 (Oct 3 high)

• Must keep borrowing costs down
• Have had to deal with mountain of inherited debt
• Imagine downside if uk rate forced to rise
• UK deficit like Greece, borrowing costs like Germany