The euro strengthened on speculation Greece will attract enough investors to make its debt-swap plan a success, adding to optimism the region’s debt crisis will be contained.
The common currency rose for a second day versus the dollar after the European Central Bank kept its benchmark interest rate unchanged and President Mario Draghi said recent surveys showed signs of economic stabilization.
The dollar had gained against most major currencies in the period as investors sought safety on concern the Greek debt swap might unravel.
Greece’s largest banks, most of the country’s pension funds, and more than 30 European banks and insurers including BNP Paribas SA, Commerzbank AG (CBK) and Assicurazioni Generali SpA (G) have agreed to the offer.
Speaking at a press conference in Frankfurt after the ECB meeting, Draghi said “the risk environment has improved enormously” and recent surveys “confirm signs of a stabilization” in the euro-area economy. The outlook is “still subject to downside risks,” he said. Policy makers didn’t discuss changing interest rates at their meeting, Draghi said.
The number of Americans filing claims for jobless benefits rose 8,000 to 362,000 last week, the Labor Department said, keeping the average over the past four weeks close to a four- year low. A report from the Department tomorrow will show that employers added 208,000 jobs last month, according to the median estimate of economists.
In Germany, industrial output increased more than economists forecast in January as construction activity jumped. Production rose 1.6 percent from December, when it fell 2.6 percent, the Economy Ministry in Berlin said today. Economists forecast a January increase of 1.1 percent.
EADS surged 11 percent, the highest price since May 2006. The maker of Airbus passenger jets agreed to pay a dividend of 45 cents a share, more than exceeding analyst. Earnings before interest, taxes and one-time items will increase to more than 2.5 billion euros in 2012, from 1.8 billion euros last year, EADS said.
Scania AB and Volvo AB rose 6.9 percent and 4.7 percent, respectively, after JPMorgan Chase & Co. named the Swedish truckmakers among its top picks.
Deutsche Post AG advanced 5.7 percent. Europe’s largest postal service said profit in 2012 will rise as much as 6.6 percent.
U.S. stocks rose as more investors indicated they will participate in Greece’s debt swap.
The S&P 500 advanced, as all of its 10 groups gained.
Stocks gained today on speculation Greece will reach its participation target by the deadline of 10 p.m. in Athens. Holders of about 60 percent of the Greek bonds eligible for the deal have agreed to the offer.
Investors also watched economic data as the number of Americans filing claims for jobless benefits rose to 362,000 last week, a level consistent with an improving labor market.
The Labor Department will report monthly jobs data tomorrow, which economists forecast will show an increase of 225,000 private jobs and total non-farm payrolls growth of 208,000.
Currently:
Dow 12,907.87 +70.54 +0.55%
Nasdaq 2,965.80 +30.11 +1.03%
S&P 1,364.87 +12.24 +0.90%
Oil rose for a second day on signs that sanctions on Iran are succeeding in cutting the nation’s crude exports.
Oil has climbed this year amid concern European and U.S. sanctions against Iran will lead to military conflict in the Middle East, home to more than half the world’s oil.
Oil for April delivery gained to $1 to $106.62 a barrel (+0.62%) in electronic trading on the New York Mercantile Exchange.

Gold rose on signs that investors are buying the precious metal as an alternative to a slumping dollar. The U.S. currency fell against the euro as Greece moved closer to completing its debt swap.
Gold futures for delivery in April rose to $1,695.00 an ounce. Session higfh as showed at $1,703.70 an ounce.

Resistance 3:1377 (Feb 29, Mar 1-2 highs) Resistance 2:1365 (Mar 6 high) Resistance 1:1360 (area of session high) Current price: 1353,00 Support 1:1350 (area intraday low) Support 2:1344 (session low) Support 3:1338 (Mar 6 low)

EUR/USD $1.3150, $1.3200, $1.3280, $1.3300
USD/JPY Y81.00, Y81.25, Y81.50, Y81.80, Y82.00
AUD/USD $1.0700, $1.0800
EUR/CHF Chf1.2050
GBP/USD $1.5800, $1.5950
USD/CHF Chf0.9250
EUR/GBP stg0.8340
U.S. stock futures rose as Greece moved closer to completing its debt swap.
The number of Americans filing claims for jobless benefits rose to 362,000 last week. The Labor Department will report monthly jobs data tomorrow, which economists forecast will show an increase of 225,000 private jobs and total non-farm payrolls growth of 208,000.
Global stocks:
Nikkei 9,768.96 +192.90 +2.01%
Hang Seng 20,900.73 +272.95 +1.32%
Shanghai Composite 2,420.28 +25.48 +1.06%
FTSE 5,860.22 +68.81 +1.19%
CAC 3,450.86 +58.53 +1.73%
DAX 6,787.5 +116.39 +1.74%
Crude oil $106.54 (+0,4%).
Gold $1695.70 (+0,7%).
Data:
08:15 Switzerland Consumer Price Index (MoM) February -0.4% +0.2% +0.3%
08:15 Switzerland Consumer Price Index (YoY) February -0.8% -0.9% -0.9%
11:00 Germany Industrial Production s.a. (MoM) January -2.9% +1.1% +1.6%
11:00 Germany Industrial Production (YoY) January +0.9% +1.1% +1.8%
12:00 United Kingdom BoE Interest Rate Decision 0 0.50% 0.50% 0.50%
12:00 United Kingdom MPC Rate Statement
12:45 Eurozone ECB Interest Rate Decision 1.00% 1.00% 1.00%
The euro strengthened the most in two weeks against the yen on speculation Greece will attract enough investors to make its debt-swap plan a success, adding to optimism the region’s debt crisis will be contained. Greece’s largest banks, most of the country’s pension funds, and more than 30 European banks and insurers including BNP Paribas SA, Commerzbank AG (CBK) and Assicurazioni Generali SpA (G) have agreed to the offer. The 17-nation currency climbed for a second day against the dollar as European Central Bank refrain from cutting interest rates today and signal the region’s economy is improving.
The yen fell against all of its major counterparts after Japan reported a record current-account deficit, threatening to undermine the currency’s haven status. The yen fell toward a nine-month low versus the dollar after the Ministry of Finance said Japan had a current-account deficit of 437.3 billion yen in January. That’s the biggest shortfall since comparable data began in 1985 and was more than the median estimate of a 320 billion-yen deficit in a Bloomberg News survey of economists.
EUR/USD: during the European session the pair gain on a figure, updated a week’s high on $1,3264.
GBP/USD: during the European session the pair gain, holds nearby $1,5800.
USD/JPY: during the European the pair gain, restored to week’s high.
At 1230GMT, US initial jobless claims are expected to hold steady at 351,000, remaining in the very narrow range seen in the last three weeks. The weekly Bloomberg Comfort Index is due at 1445GMT and is followed at 1500GMT by Q4 services data and then at 1530GMT by Natural Gas Storage. Later data includes 1700GMT Flow of Funds and the 2130GMT release of M2 money supply.
Resistance 3: Y82.20 (high of May)
Resistance 2: Y81.85 (Mar 5 high)
Resistance 1: Y81.55 (session high)
The current price: Y81.43
Support 1: Y81.05 (session low)
Support 2: Y80.55 (Mar 7 low)
Support 3: Y80.00/90 (Feb 23-24 and 28 low)

Resistance 3: Chf0.9250 (Feb 15 high)
Resistance 2: Chf0.9200 (Mar 7 high)
Resistance 1: Chf0.9160 (high of the European session)
The current price: Chf0.9122
Support 1: Chf0.9105 (Mar 5 low)
Support 2: Chf0.9070 (Mar 1 high)
Support 3: Chf0.9045 (Mar 2 low)

Resistance 3 : $1.5975 (Mar 1 high)
Resistance 2 : $1.5880 (Mar 6 high)
Resistance 1 : $1.5830/40 (session high, 50.0% FIBO $1.5695-$1.5990)
The current price: $1.5805
Support 1 : $1.5750 (low of the European session, support line from Mar 7)
Support 2 : $1.5695 (Mar 6-7 low)
Support 3 : $1.5650 (Feb 22-23 low)

Resistance 3 : $1.3355 (Mar 1 high)
Resistance 2 : $1.3280 (Mar 1 low)
Resistance 1 : $1.3225/40 (session high, Mar 5 high)
The current price: $1.3209
Support 1 : $1.3165 (low of the European session)
Support 2 : $1.3095 (Mar 7 low)
Support 3 : $1.3040 (Feb 15 low)

European stocks rose for a second day as Japan’s economy shrank less than the government initially estimated and a deadline on Greece’s debt swap approached. Asian shares and U.S. index futures gained.
FTSE 100 5,848.64 +57.23 +0.99%
CAC 40 3,442.66 +50.33 +1.48%
Xetra DAX 6,776.92 +105.81 +1.59%
European Aeronautic, Defence & Space Co. rallied to a five- year high after doubling its dividend and predicting earnings will climb. Aviva Plc added 2.1 percent as the U.K.’s second- biggest insurer by market value reported operating profit that exceeded estimates. Enel SpA (ENEL),Italy’s biggest energy company, sank 8.2 percent after cutting its dividend.
EUR/USD $1.3150, $1.3200, $1.3280, $1.3300
USD/JPY Y81.00, Y81.25, Y81.50, Y81.80, Y82.00
AUD/USD $1.0700, $1.0800
EUR/CHF Chf1.2050
GBP/USD $1.5800, $1.5950
USD/CHF Chf0.9250
EUR/GBP stg0.8340
Asian stocks rose, with the regional benchmark index snapping a three-day losing streak, after Japan’s economy shrank less than the government initially estimated, U.S. employers increasing hiring and more investors joined a Greek debt swap.
Nikkei 225 9,768.96 +192.90 +2.01%
Hang Seng 20,900.73 +272.95 +1.32%
S&P/ASX 200 4,171.04 +27.38 +0.66%
Shanghai Composite 2,420.28 +25.48 +1.06%
Toyota Motor Corp., Asia’s biggest carmaker by market value, rose 2.6 percent.
Esprit Holdings Ltd., a clothier that counts Europe as its biggest market, added 4.5 percent in Hong Kong.
Mitsubishi UFJ Financial Group Inc., Japan’s top lender, advanced 2.7 percent after U.S. banks gained on a report the Federal Reserve is considering a new type of bond-purchase program.
LG Innotek Co. paced gains among suppliers to Apple Inc., which yesterday introduced a new iPad.
00:30 Australia Changing the number of employed February 46.3 5.2 -15.4
00:30 Australia Unemployment rate February 5.1% 5.2% 5.2%
05:00 Japan Eco Watchers Survey: Current February 44.1 46.3 45.9
05:00 Japan Eco Watchers Survey: Outlook February 47.1 50.1
06:00 Japan Prelim Machine Tool Orders, y/y February -6.9% -8.6%
The yen weakened against all of its major peers after Japan posted a record current-account deficit, threatening to undermine the currency’s haven status. Japan posted a current-account deficit of 437.3 billion yen ($5.4 billion) in January, the Ministry of Finance said today. That is the biggest shortfall since comparable data began in 1985 and was more than the median estimate of a 320 billion-yen gap in a Bloomberg News survey of economists.
Separate figures showed Japan’s economy contracted less than the government’s initial estimate last quarter.
The euro advanced for a second day against the yen before Greece’s debt-swap offer to private creditors concludes at 10 p.m. Athens time today.
The dollar was 0.7 percent from a nine- month high against the yen as speculation eased that the Federal Reserve will provide further stimulus. The number of Americans filing first-time claims for jobless benefits was unchanged at 351,000 in the week ended March 3, according to the median of economist estimates in a Bloomberg News survey before the figures are released today. That would match the lowest level since March 2008.
The New Zealand dollar gained versus 15 of its 16 peers as Asian stocks extended a global rally, boosting demand for higher-yielding currencies. The Reserve Bank of New Zealand today left its official cash rate at 2.5 percent. Governor Alan Bollard said the RBNZ’s forecasts “are not inconsistent with a story that would see that remaining in place for much of this year.”
EUR/USD: during the Asian session the pair gain.
GBP/USD: during the Asian session the pair rose.
USD/JPY: during the Asian session the pair rose.
European events start at 0800GMT, the Swiss National bank publishes an Accountability Report for 2011. The ECB decision is due at 1245GMT with the usual press conference with the ECB President Mario Draghi following at 1330GMT. UK data includes Vehicle Licensing Statistics at 0930GMT, while core-European data rounds off at 1100GMT with German industrial output data. At 1230GMT, US initial jobless claims are expected to hold steady at 351,000, remaining in the very narrow range seen in the last three weeks. The weekly Bloomberg Comfort Index is due at 1445GMT and is followed at 1500GMT by Q4 services data and then at 1530GMT by Natural Gas Storage. Later data includes 1700GMT Flow of Funds and the 2130GMT release of M2 money supply.
Yesterday the euro rallied from a two-week low against the dollar as investors with 58 percent of the Greek bonds eligible have indicated they’ll participate in the so- called private-sector involvement of the nation’s bailout. The nation has said it will use collective action clauses to force holders of Greek-law bonds to accept the swap if it receives sufficient consent from investors.
The dollar rose against the yen after a report that the Federal Reserve is considering sterilized bond purchases. Brazil’s real tumbled against all of its most-traded counterparts as the government prepared measures to control capital inflows and stem the currency’s appreciation. The yen extended losses against the dollar to 0.2 percent to trade at 81.04 after the Wall Street Journal reported the U.S. central bank was considering a monetary program that would also subdue concern about future inflation. The program could see the Fed borrow an equivalent amount of money that it used to purchase the bonds, the report said.
EUR/USD: yesterday the pair fell showed new week’s low, but restored later.
GBP/USD: yesterday the pair traded in range $1.5695-$1.5750.
USD/JPY: yesterday the pair gain, closed day above Y81.00.
European events start at 0800GMT, the Swiss National bank publishes an Accountability Report for 2011. The ECB decision is due at 1245GMT with the usual press conference with the ECB President Mario Draghi following at 1330GMT. UK data includes Vehicle Licensing Statistics at 0930GMT, while core-European data rounds off at 1100GMT with German industrial output data. At 1230GMT, US initial jobless claims are expected to hold steady at 351,000, remaining in the very narrow range seen in the last three weeks. The weekly Bloomberg Comfort Index is due at 1445GMT and is followed at 1500GMT by Q4 services data and then at 1530GMT by Natural Gas Storage. Later data includes 1700GMT Flow of Funds and the 2130GMT release of M2 money supply.
Asian stocks fell for a third day, with the regional benchmark index (CRY) headed for the lowest close in a month, amid concern about a Greece debt-swap deal and after reports showed European gross domestic product contracted and Australia’s economy grew less than forecast.
Nikkei 225 9,576.06 -61.57 -0.64%
Hang Seng 20,628.91 -177.34 -0.85%
S&P/ASX 200 4,143.66 -61.07 -1.45%
Shanghai Composite 2,394.79 -15.65 -0.65%
Sony Corp., Japan’s No. 1 exporter of consumer electronics, slid 2.4 percent. Newcrest Mining Ltd. lost 3.8 percent in Sydney as metal prices dropped.
China Life Insurance Co. slumped 5.4 percent in Hong Kong after saying profit may have fallen by half last year.
Industrial & Commercial Bank of China Ltd., the most actively traded stock by volume in the regional benchmark index today, plunged after saying a lock-up period barring the sale of its shares had ended, giving Goldman Sachs Group Inc. the right to sell its stake.
European stocks rose, rebounding from yesterday’s biggest drop since November, after a report showed hiring in U.S. companies accelerated and as investors with more than half of Greek bonds agreed to a debt swap.
Investors holding a total of at least 120 billion euros ($157 billion), or 58 percent of the Greek bonds eligible for the nation’s debt swap, have so far indicated they will participate in the biggest-ever sovereign restructuring. The offer, which ends at 10 p.m. Athens time tomorrow, aims to reduce the the 206 billion euros of privately held Greek debt by 53.5 percent.
German factory orders unexpectedly declined in January. Orders, adjusted for seasonal swings and inflation, fell 2.7 percent from December, when they gained 1.6 percent, the Economy Ministry in Berlin said.
National benchmark indexes rose in 14 of the 18 western European markets. France’s CAC 40 added 0.9 percent. Germany’s DAX climbed 0.6 percent and the U.K.’s FTSE 100 gained 0.4 percent.
Deutsche Boerse AG, blocked from buying NYSE Euronext by European regulators last month, advanced 2.3 percent to 47.01 euros, the most since Feb. 20. UBS AG recommended buying the stock saying concerns over the impact of financial transaction tax are overdone.
Thales SA added 2.7 percent to 27.09 euros after reporting full-year net income of 566 million euros, more than analysts’ estimates of 455 million euros.
Adidas, the world’s second-largest sporting-goods maker, declined 3 percent to 56 euros after saying it saw 2012 net income-target between 736 million euros to 770 million euros, missing analysts’ estimates.
U.S. stocks advanced, following the biggest decline in 2012 for the Standard & Poor’s 500 Index, after a private report showed American companies increased hiring and more investors signed on to a Greek debt swap.
Equities extended gains as the Wall Street Journal said the Fed would print new money to buy long-term mortgage or Treasury bonds, then effectively tie up that money by borrowing it back for short periods at low rates.
Dow 12,837.33 +78.18 +0.61%, Nasdaq 2,935.69 +25.37 +0.87%, S&P 500 1,352.63 +9.27 +0.69%
Financial shares, which yesterday had the biggest loss among 10 groups in the S&P 500, led the gains today. Bank of America (ВАС) rose 4 percent, the most in the Dow, to $8.02. JPMorgan Chase & Co. (JPM) advanced 1.6 percent to $39.95.
Industrial shares had the second-biggest gain in the S&P 500. Caterpillar (САТ) advanced 2.2 percent to $108.28. United Technologies Corp. climbed 1.5 percent to $82.57.
General Electric Co. (GE) increased 1.9 percent to $18.77. The world’s biggest maker of jet engines, power generation equipment, health-care imaging equipment and locomotives reiterated its forecast of earnings growth of at least 10 percent from industrial and capital units this year.
Ciena Corp. surged 4.2 percent to $14.01. The maker of network equipment for phone companies forecast fiscal second- quarter revenue that topped some analysts’ estimates. Ciena, which last month said first-quarter results would suffer from delays in recording international sales, today predicted stronger operating results in the second half of the year.
Kraft Foods Inc. (KFT) fell 1.2 percent to $37.83 for the biggest decline in the Dow. The company was cut to “hold” from “buy” by Jefferies Group Inc., which said the stock has little incentive to outperform this year.
Resistance 3: Chf0.9300 (Feb 16 high)
Resistance 2: Chf0.9250 (Feb 15 high)
Resistance 1: Chf0.9200 (Mar 7 high)
The current price: Chf0.9152
Support 1: Chf0.9135 (23.6% FIBO Chf0.9200-Chf0.8930)
Support 2: Chf0.9105 (Mar 5 low)
Support 3: Chf0.9070 (Mar 1 high)

Resistance 3: Y82.20 (high of May)
Resistance 2: Y81.85 (Mar 5 high)
Resistance 1: Y81.35 (Mar 8 high)
The current price: Y81.26
Support 1: Y81.05 (session low)
Support 2: Y80.55 (Mar 7 low)
Support 3: Y80.00/90 (Feb 23-24 and 28 low)

Resistance 3 : $1.5880 (Mar 6 high)
Resistance 2 : $1.5840 (50.0% FIBO $1.5695-$1.5990)
Resistance 1 : $1.5785 (Mar 5 low)
The current price: $1.5750
Support 1 : $1.5695 (Mar 6-7 low)
Support 2 : $1.5650 (Feb 22-23 low)
Support 3 : $1.5600 (psychological level)

Resistance 3 : $1.3280 (Mar 1 low)
Resistance 2 : $1.3240 (Mar 5 high)
Resistance 1 : $1.3185 (23.6% FIBO $1.3095-$1.3485)
The current price: $1.3168
Support 1 : $1.3095 (Mar 7 low)
Support 2 : $1.3040 (Feb 15 low)
Support 3 : $1.2945 (Feb 16 low)

Change % Change Last
Oil $106.40 +0.24 +0.23%
Gold $1,686.10 +2.20 +0.13%
Change % Change Last
Nikkei 225 9,576.06 -61.57 -0.64%
Hang Seng 20,628.91 -177.34 -0.85%
S&P/ASX 200 4,143.66 -61.07 -1.45%
Shanghai Composite 2,394.79 -15.65 -0.65%
FTSE 100 5,791.41 +25.61 +0.44%
CAC 40 3,392.33 +29.77 +0.89%
DAX 6,671.11 +38.00 +0.57%
Dow 12,837.33 +78.18 +0.61%
Nasdaq 2,935.69 +25.37 +0.87%
S&P 500 1,352.63 +9.27 +0.69%
(pare/closed(00:00 GMT +02:00)/change, %)
EUR/USD $1,3148 +0,27%
GBP/USD $1,5741 +0,17%
USD/CHF Chf0,9165 -0,24%
USD/JPY Y81,09 +0,25%
EUR/JPY Y106,62 +0,53%
GBP/JPY Y127,61 +0,40%
AUD/USD $1,0581 +0,28%
NZD/USD $0,8163 +0,49%
USD/CAD C$0,9974 -0,44%
00:30 Australia Changing the number of employed February 46.3 5.2
00:30 Australia Unemployment rate February 5.1% 5.2%
05:00 Japan Eco Watchers Survey: Current February 44.1 46.3
05:00 Japan Eco Watchers Survey: Outlook February 47.1
06:00 Japan Prelim Machine Tool Orders, y/y February -6.9%
08:15 Switzerland Consumer Price Index (MoM) February -0.4% +0.2%
08:15 Switzerland Consumer Price Index (YoY) February -0.8% -0.9%
11:00 Germany Industrial Production s.a. (MoM) January -2.9% +1.1%
11:00 Germany Industrial Production (YoY) January +0.9% +1.1%
12:00 United Kingdom BoE Interest Rate Decision 0 0.50% 0.50%
12:00 United Kingdom MPC Rate Statement 0
12:45 Eurozone ECB Interest Rate Decision 0 1.00% 1.00%
13:15 Canada Housing Starts February 198 199
13:30 Eurozone ECB Press Conference 0
13:30 Canada New Housing Price Index January +0.1% +0.2%
13:30 U.S. Initial Jobless Claims 03/03/2012 351 352
14:00 Canada Bank of Canada Rate 0 1.00% 1.00%
14:00 Canada BOC Rate Statement 0
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