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European stocks climbed for a third day, extending the Stoxx Europe 600 Index’s highest level since July, as U.S. jobs and manufacturing data added to optimism the recovery in the world’s largest economy is gaining momentum.

The number of Americans applying for jobless benefits fell by 14,000 to 351,000 in the week ended March 10, Labor Department figures showed today. Claims reached the same level a month ago, the lowest since March 2008.

Manufacturing in the New York region expanded in March at the fastest pace since June 2010, while Philadelphia factory output grew the most in almost a year.

Gains in Europe were limited today as Fitch said Britain risks losing its top investment grade because of its limited ability to deal with shocks.

National benchmark indexes rose in 14 of the 18 western European markets. Germany’s DAX added 0.9 percent and France’s CAC 40 climbed 0.4 percent. The U.K.’s FTSE 100 declined 0.1 percent as Fitch Ratings said Britain risks losing its top credit grade.

H&M added 2.4 percent to 249.60 kronor after comparable sales advanced 2 percent in February from a year earlier. Same- store sales were expected to drop 1 percent, according to an SME Direkt poll of analysts.

Aixtron rallied 15 percent to 14.40 euros, the biggest gain since October 2008, as Deutsche Bank upgraded the maker of equipment for the semiconductor and lighting-technology industries to buy.

HeidelbergCement AG climbed 5.1 percent to 44.57 euros. The world’s third-largest maker of cement predicted operating profit and sales will rise this year on growth in Asia and Africa and a weaker increase in raw material and energy costs. Net income in 2011 increased 4.5 percent to 534 million euros.

Pernod-Ricard paced declining shares, falling 2.1 percent to 80.38 euros after Groupe Bruxelles Lambert sold 6.2 million shares for 80.60 euros each.

The yen climbed from an 11-month low against the dollar as investors wagered that its largest four-day decline since November may have happened too quickly. The Japanese central bank unexpectedly added 10 trillion yen ($120 billion) to its asset-purchase program at its Feb. 14 meeting and Governor Masaaki Shirakawa indicated the central bank will keep using monetary policy as a tool to tackle deflation on March 13. The Federal Reserve raised its outlook for U.S. growth at its meeting the same day, reducing expectations of a third round of bond purchases.

The pound weakened for the first time in three days against the euro after Fitch Ratings said the U.K. risks losing its top investment grade. The U.K. currency fell against 11 of its 16 major counterparts after Fitch changed its rating outlook yesterday on Britain to negative, citing a weak recovery and high debt levels. Fitch said its decision “reflects the very limited fiscal space to absorb further economic shocks in light of such elevated debt levels and a potentially weaker than currently forecast economic recovery.” The U.K. government is implementing the biggest squeeze on government spending since World War II as it attempts to reduce the nation’s deficit.

The Swiss franc climbed from a seven-week low against the dollar as the Swiss National Bank predicted the economy will expand 1 percent this year, twice as much as its previous estimate. Policy makers led by interim Chairman Thomas Jordan, maintained their ceiling for the currency at 1.20 francs per euro, and pledged to defend the cap with their “utmost determination.” The SNB forecast that consumer prices will fall 0.6 percent this year, before inflation returns in 2013 with a rate of 0.3 percent, accelerating to 0.6 percent in 2014.

U.S. stocks advanced, sending the Standard & Poor’s 500 Index above 1,400 for the first time in almost four years, as manufacturing in the New York region unexpectedly increased and jobless claims declined.

Equities rose as manufacturing in the New York region expanded in March at the fastest pace since June 2010. Claims for jobless benefits fell last week, matching the lowest level in four years, more evidence the labor market is improving. Separate data showed that the Federal Reserve Bank of Philadelphia’s general economic index increased to 12.5 in March from 10.2 last month, beating economists’ estimates.

Dow   13,225.70   +31.60       +0.24%, Nasdaq   3,049.96    +9.23  +0.30%, S&P 500 1,400.20     +5.92  +0.42%

Bank of America (ВАС) gained 3.4 percent to $9.14. JPMorgan Chase & Co. (JPM) increased 2.8 percent to $44.78. GE added 1.9 percent to $20.17.

Technology shares rallied as IBM (IBM) advanced to a new record, adding 0.6 percent to $205.97. Apple rose 0.2 percent to $590.96 after climbing above $600 for the first time. The world’s largest technology company had its share price estimate lifted to $718 from $670 at Piper Jaffray Cos.

Scholastic Corp. surged 13 percent to $36.52. The children’s book publisher boosted its full-year forecast, saying it now expects to earn at least $2.60 a share from continuing operations. The company had projected $2.10 at most.

EBay Inc. slumped 1.9 percent to $36.92. The largest Internet marketplace was downgraded to neutral from outperform at Credit Suisse Group AG.

Guess? Inc. tumbled 11 percent, the most in the Russell 1000 Index, to $32.50. The clothing retailer forecast fiscal 2013 earnings of no more than $2.65 a share, below the average analyst estimate of $3.16 a share.

Oil pared declines in New York after an Obama administration official said a report that the U.S. and the U.K. agreed to cooperate in an agreement to release oil from strategic reserves wasn’t accurate.

Futures rebounded from a 1.6 percent drop after an Obama administration official said there has been no agreement on a release of oil. The official spoke on condition of anonymity. Reuters reported earlier that the two nations would cooperate in an effort to cut rising gasoline prices.

Crude oil for April delivery dropped 37 cents, or 0.4 percent, to $105.06 a barrel on the New York Mercantile Exchange. The price dropped to $103.78 after the report.

Brent crude for April fell $1.47, or 1.2 percent, to $123.50 a barrel. The price ranged from $120.97 to $125.35.

The

The price of gold at auction on Thursday adjusted upwards after a significant drop the previous day, accompanied by decreasing investor confidence in the Fed's intention to hold a third round of the U.S. stimulate the national economy.

Investors' confidence in the new round of quantitative easing policy (QE3) in the U.S. fell after the publication on Tuesday of the next decision on monetary policy committee of the Federal Open Market U.S. Federal Reserve.

The regulator upheld the base interest rate - at a record low in 0,0-0,25% - and kept the volume of assets being bought from the market as part of Operation Twist at $ 400 billion. At the same time, in its statement the Fed said that the outlook for the U.S. economy improves - so, automatically reduces the need to launch a new program of QE.

Reducing the likelihood of another round of stimulus, and also reduces the risk of inflation - as the QE program conducted by the printing press - which adversely affects the dynamics of gold as a safe haven asset.

April futures price of gold on COMEX today rose to $ 1651.9 an ounce.

Resistance 3:1410 (Jun’2008 high)

Resistance 2:1400 (psychological level)

Resistance 1:1394 (Mar 14 high)

The current price: 1391,50

Support 1:1384 (Mar 14 low)

Support 2:1375 (high of the Asian session on Mar 13)

Support 3:1370 (intraday low on Mar 13)

EUR/USD

Offers $1.3150/55, $1.3120/25

Bids $1.3030, $1.3000, $1.2980/70, $1.2950, $1.2930

AUD/USD

Offers $1.0645/50, $1.0600/20, $1.0555/60

Bids $1.0445/40, $1.0400

USD/JPY

Offers Y84.75, Y84.50, Y84.25, Y83.70

Bids Y83.00, Y82.85/80, Y82.55/50, Y82.30

Standard & Poor’s 500 Index futures expiring in June added 0.3 percent to 1,392.60 at 8:34 a.m. New York time. Dow futures rose 25 points, or 0.2 percent, to 13,155 today.

U.S. stock futures advanced, indicating the Dow Jones Industrial Average will rally for a seventh day, after reports showed a drop in jobless claims and manufacturing in the New York region expanded.

Equity futures rose as claims for jobless benefits dropped last week in the U.S., matching the lowest level in four years, more evidence the labor market is improving. Manufacturing in the New York region expanded in March at the fastest pace since June 2010, indicating factories are still driving the expansion.

Nikkei   10,123.28 +72.76 +0.72%

Hang Seng 21,353.53 +45.64 +0.21%

Shanghai Composite 2,373.77 -17.46 -0.73%

FTSE 100 5,932.94 -12.49 -0.21%

CAC 40 3,562.34 -2.17 -0.06%

Xetra DAX 7,099.7 +20.28 +0.29%

Nymex WTI $106.05 0,59%

GOLD $1645.30 0,17%

Data:

06:45 Switzerland SECO Economic Forecasts Quarter II

08:30 Switzerland SNB Interest Rate Decision 0 0.25% 0.25% 0.25%

08:30 Switzerland SNB Monetary Policy Assessment 0

09:00 Eurozone ECB Monthly Report March

10:00 Eurozone Employment Change IV quarter -0.1% -0.2% -0.2%

11:30 United Kingdom MPC Member Dr Ben Broadbent Speaks 0

Resistance 3: Y85.50 (high of 2011)

Resistance 2: Y84.80 (Apr 12 high)

Resistance 1: Y84.15 (session high)

The current price: Y83.45

Support 1: Y82.85 (support line from Mar 7)

Support 2: Y81.90 (area of Mar 13 low and Mar 5 high)

Support 3: Y81.45 (Mar 9 low)

Resistance 3: Chf0.9410 (Jan 19 high)

Resistance 2: Chf0.9380 (Jan 23 high )

Resistance 1: Chf0.9335 (session high)

The current price: Chf0.9281

Support 1: Chf0.9265 (session low)

Support 2: Chf0.9225 (Mar 14 low)

Support 3: Chf0.9185 (low of the American session on Mar 13)

Resistance 3 : $1.5745 (Mar 13 high)

Resistance 2 : $1.5705 (resistance line from Mar 2)

Resistance 1 : $1.5675 (session high)

The current price: $1.5643

Support 1 : $1.5630 (session low)

Support 2 : $1.5610/00 (Mar 12-13 lows, 50.0 % FIBO $1.5230-$1.5990)

Support 3 : $1.5530 (Jan 25 low)

European stocks fluctuated as investors awaited reports on American jobless-benefit claims and manufacturing. Asian shares and U.S. index futures gained.

FTSE 5,944.74 -0.69 -0.01%

DAX 7,098.74 +19.32 +0.27%

CAC 3,568.71 +4.20 +0.12%

HeidelbergCement AG advanced 3.9 percent after predicting that operating profit and sales will climb this year. Pernod- Ricard SA declined 2.7 percent as shareholder Groupe Bruxelles Lambert SA sold a 499 million-euro ($651 million) stake in the producer of wines and spirits. Hikma Pharmaceuticals Plc dropped 3.8 percent as JPMorgan Chase & Co. downgraded the shares.

EUR/USD $1.3000, $1.3050, $1.3070, $1.3100, $1.3125, $1.3140

USD/JPY Y83.00, Y83.40, Y84.00

GBP/USD $1.5695, $1.5700, $1.5900

USD/CHF Chf0.9225

EUR/CHF Chf1.2100

AUD/USD $1.0400

Data:

00:00 Australia Consumer Inflation Expectation March +2.5% +2.7%

00:30 Australia New Motor Vehicle Sales (MoM) February +1.2% +2.2% 0.0%

00:30 Australia New Motor Vehicle Sales (YoY) February +2.7% +1.7%

The dollar reached an 11-month high against the yen before U.S. data forecast to show regional manufacturing expanded and initial jobless claims decreased, adding to signs the American economy is gathering momentum.

The greenback was near the highest level in four weeks against the euro amid reduced bets the Federal Reserve will begin a third round of bond purchases, or quantitative easing, which could debase the world’s reserve currency.

The yen slid against most major counterparts as Asian stocks rose for a third day, curbing demand for the lower-yielding Japanese currency.

EUR/USD: the pair receded from a yesterday's low in $1.3000 area and become stronger in $1.3040 area.

GBP/USD: the pair was limited $1.5630-$ 1.5675.

USD/JPY: the pair showed high above Y84.00 then receded.

EMU data at 1000GMT sees Q4 employment and labour costs data.

UK data at 0930GMT is limited to February car production data.

A busy US data schedule starts at 1230GMT with the Producer Price Index, weekly initial jobless claims and also the NY Fed Empire State Survey. Producer prices are expected to rise 0.5% in February after soft readings in the previous two months. After falling recently, both energy and food prices are expected to rebound in February. The core PPI is expected to rise 0.2% after the 0.4% jump in January. Initial jobless claims are expected to fall 5,000 to 357,000 in the March 10 week after rising 8,000 in the previous week. Claims have remained in a tight range in recent weeks. The NY Fed Empire State

Manufacturing Index is expected to fall to a reading of 18.0 in March after jumping to a reading of 19.53 in February. This is followed at

1300GMT by the latest TICS report and then at 1345GMT by the weekly Bloomberg Comfort Index and at 1400GMT by the Philadelphia Fed index,

Свое решение рейтинговое агентство аргументирует недостаточной защищена от экономических потрясений.

The dollar strengthened to an 11- month high against the yen after the Federal Reserve raised its outlook for U.S. growth, reducing expectations the central bank will begin a third round of bond purchases. The Federal Open Market Committee said yesterday it expects “moderate economic growth” and predicted the U.S. unemployment rate “will decline gradually.”

The yen fell for a second day versus the dollar as the extra yield received for holding Treasury two-year notes compared with Japanese debt increased to the most since July. The extra yield investors receive from holding two-year Treasuries instead of Japanese debt widened to 24 basis points, the most since July 28, increasing the attractiveness of dollar assets. There is a “relatively high” correlation between the two-year spread and the dollar-yen exchange rate, Bank of Japan Governor Masaaki Shirakawa has said.

Britain’s pound rallied against most of its major peers as gilt yields rose to the highest in four months.

 

EUR/USD: on results of yesterday's session the pair fell in $1.3030 area, showed low in $1.3000 area.

 

GBP/USD: the range of the yesterday's session was about 100 points ($1.5647-$ 1.5742).

USD/JPY: yesterday the pair rose, showed high on Y83.82.

  

 

At 0830GMT, the Swiss National Bank announces it's monetary policy decision. The meeting is not expected to do much beyond re-stressing its commitment to the Chf1.20 floor against the euro. The SNB is still looking for a replacement for Philippe Hildebrand, who resigned following controversy

over his wife's foreign exchange dealings. The board is therefore short one member. Thomas Jordan is the present stand-in for the role of SNB

president.

EMU data at 1000GMT sees Q4 employment and labour costs data.

UK data at 0930GMT is limited to February car production data.

A busy US data schedule starts at 1230GMT with the Producer Price Index, weekly initial jobless claims and also the NY Fed Empire State Survey. Producer prices are expected to rise 0.5% in February after soft readings in the previous two months. After falling recently, both energy and food prices are expected to rebound in February. The core PPI is expected to rise 0.2% after the 0.4% jump in January. Initial jobless claims are expected to fall 5,000 to 357,000 in the March 10 week after rising 8,000 in the previous week. Claims have remained in a tight range in recent weeks. The NY Fed Empire State

Manufacturing Index is expected to fall to a reading of 18.0 in March after jumping to a reading of 19.53 in February. This is followed at

1300GMT by the latest TICS report and then at 1345GMT by the weekly Bloomberg Comfort Index and at 1400GMT by the Philadelphia Fed index,

which is expected to rise further to a reading of 11.5 in March after rising to 10.2 in February.

Asian stocks rose for a second day after U.S. retail sales jumped and the Federal Reserve raised its assessment of the world’s biggest economy.
Shares pared gains after Chinese Premier Wen Jiabao said home prices are still too high.
Toyota Motor Corp. rose 2.1 % in Tokyo.
BHP Billiton Ltd., the world’s biggest miner, gained 1.3 % in Sydney after metal prices advanced.
Samsung Electronics Co. climbed 2.4 % in Seoul after saying it will supply screens for Apple Inc.’s new iPad.
Evergrande Real Estate Group Ltd., a mainland developer, fell 3.2 %.

European stocks advanced to the highest level since July as the Federal Reserve raised its economic assessment of the world’s largest economy.
The Federal Open Market Committee said late yesterday that strains in global financial markets have eased and the labor market is gathering strength. At the same time, it said that the unemployment rate is “elevated” and “significant downside risks” remain. Federal Reserve Chairman Ben S. Bernanke is holding to his plan to the keep benchmark interest rate close to zero through at least 2014.
Greece’s credit rating was lifted out of the default category by Fitch Ratings on optimism that a debt swap will reduce the risk that the country eventually reneges on its obligations. Greece was raised four levels to B- from restricted default and given a stable outlook by Fitch. New government bonds have a B- rating, while debt that is not governed by Greek law has a C rating pending settlement on April 11, Fitch said.
Italy sold 6 billion euros of bonds today, with borrowing costs on its three-year debt falling to the lowest since October 2010 as European Central Bank loans helped boost demand. The Treasury sold 5 billion euros of a new three-year bond to yield 2.76 % and 1 billion euros of seven-year bonds at 4.3 %, meeting the 6 billion-euro maximum set for the sale.
National benchmark indexes rose in 15 of the 18 western European markets.
EON AG, Germany’s biggest utility, gained 7 % after it reported 2011 earnings that topped analysts’ estimates.
Gauges of European banks and insurers pulled the Stoxx 600 higher, with Credit Suisse rallying 5 % to 26.3 Swiss francs, and Legal & General advancing 7.2 % to 134.3 pence. Natixis SA added 5.2 % to 2.95 euros and Deutsche Bank AG gained 3.4 % to 38.17 euros.
Arkema fell 5 % to 69 euros. Investor Groupe Bruxelles Lambert SA is offering 6.2 million shares of the company for as much as 450 million euros. The shares are being sold for about 69.90 euros each, according to a term sheet.

The Standard & Poor’s 500 Index fell, snapping a five-day advance, after the benchmark gauge for U.S. equities rallied to the highest level since June 2008.
After the close of trading yesterday, the Fed said 15 of 19 banks would be able to maintain capital levels above a regulatory minimum in an “extremely adverse” economic scenario, even while continuing to pay dividends and repurchasing stock.
Gold producers tumbled on speculation that an economic recovery will curb demand for the metal. Gold has surged since December 2008 as the Fed held U.S. borrowing costs at a record low and bought $2.3 trillion in housing and government debt during two rounds of so-called quantitative easing.
Citigroup slumped 3.4 % to $35.21. MetLife fell 5.8 % to $37.16. Bank of America (ВАС) added 4.1 % to $8.84. Zions Bancorporation soared 11 %, the most in the S&P 500, to $21.58. Regions Financial Corp. jumped 6.9 % to $6.17.
Newmont Mining Corp., the largest U.S. gold producer, dropped 1 % to $54.30. Freeport-McMoRan Copper & Gold Inc. retreated 2.5 % to $38.12.
Apple climbed 3.8 % to a record $589.58, rising for a sixth day. The world’s largest technology company had its share price estimate raised to $720 from $515 at Morgan Stanley.
Cliffs Natural Resources Inc. rose 7.1 % to $69.50. The largest U.S. iron-ore producer more than doubled its dividend and said it’s refocusing on the execution of expansion projects.

Resistance 3: Y85.50 (high of 2011)

Resistance 2: Y84.50 (psychological level)

Resistance 1: Y84.20 (area of session high)

Current price: Y83.79

Support 1: Y83.55 (intraday low on Mar 14)

Support 2: Y83.10 (intraday low on Mar 14, Mar 13 high)

Support 3: Y82.70 (intraday low on Mar 13, Mar 9 high)

Resistance 3: Chf0.9400 (Jan 12-13 lows)

Resistance 2: Chf0.9380 (Jan 20 high)

Resistance 1: Chf0.9330 (session high, Mar 14 high)

Current price: Chf0.9285

Support 1: Chf0.9260 (38.2 % FIBO Chf0.9140-Chf0.9330)

Support 2: Chf0.9240 (50.0 % FIBO Chf0.9140-Chf0.9330)

Support 3: Chf0.9120/15 (Mar 12 high, 61.8 % FIBO Chf0.9140-Chf0.9330)

Resistance 3 : $1.5800 (area of 50.0 % FIBO $1.5990-$ 1.5600)
Resistance 2 : $1.5750 (Mar 13-14 high, 38.2 % FIBO $1.5990-$ 1.5600)
Resistance 1 : $1.5710 (resistance line from Mar 1)
Current price: $1.5652
Support 1 : $1.5620/00 (Mar 12-13 low, 50,0 % FIBO $1,5230-$ 1,5990)
Support 2 : $1.5530 (61.8 % FIBO $1,5230-$ 1,5990)
Support 3 : $1.5500 (psychological level)

Resistance 3 : $1.3120 (high of american session on Mar 13)

Resistance 2 : $1.3090 (Mar 14 high)

Resistance 1 : $1.3040 (session high)

Current price: $1.3020

Support 1 : $1.3000 (session low, psychological level)

Support 2 : $1.2975 (low of February)

Support 3 : $1.2930 (Jan 25 low)

(commodities/close/change, %)

Oil $105.65 +0.22 +0.21%

Gold $1,644.00 +1.10 +0.07%

(index/close/change, point/change, %)

Nikkei 225 10,050.52 +151.44 +1.53%
Hang Seng 21,307.89 -31.81 -0.15%
S&P/ASX 200 4,287.18 +39.56 +0.93%
Shanghai Composite 2,391.23 -64.57 -2.63%
FTSE 100 5,945.43 -10.48 -0.18%
CAC 40 3,564.51 +14.35 +0.40%
DAX 7,079.42 +83.51 +1.19%
Dow 13,194.10 +16.42 +0.12%
Nasdaq 3,040.73 +0.85 +0.03%
S&P 500 1,394.28 -1.67 -0.12%

(currency pair/close(00:00 GMT +02:00)/change, %)

EUR/USD $1,3029 -0,39%
GBP/USD $1,5665 -0,26%
USD/CHF Chf0,9304 +0,77%
USD/JPY Y83,68 +0,97%
EUR/JPY Y109,03 +0,60%
GBP/JPY Y131,02 +0,66%
AUD/USD $1,0448 -0,85%
NZD/USD $0,8097 -1,52%
USD/CAD C$0,9933 +0,46%

00:00 Australia Consumer Inflation Expectation March +2.5% +2.7%

00:30 Australia New Motor Vehicle Sales (MoM) February +1.2% +2.2% 0.0% 00:30 Australia New Motor Vehicle Sales (YoY) February +2.7% +1.7% 06:45 Switzerland SECO Economic Forecasts Quarter II 08:30 Switzerland SNB Interest Rate Decision 0.25% 0.25% 08:30 Switzerland SNB Monetary Policy Assessment 09:00 Eurozone ECB Monthly Report March 10:00 Eurozone Employment Change IV quarter -0.1% -0.2% 11:30 United Kingdom MPC Member Dr Ben Broadbent Speaks 0 12:30 U.S. Initial Jobless Claims 10/03/2012 362 357 12:30 U.S. PPI, m/m February +0.1% +0.5% 12:30 U.S. PPI, y/y February +4.1% +3.1% 12:30 U.S. PPI excluding food and energy, m/m February +0.4% +0.2% 12:30 U.S. PPI excluding food and energy, Y/Y February +3.0% +2.9% 12:30 U.S. NY Fed Empire State manufacturing index March 19.5 17.6 13:00 U.S. Net Long-term TIC Flows January 17.9 29.3 13:00 U.S. Total Net TIC Flows January 87.1 40.0 14:00 U.S. Philadelphia Fed Manufacturing Survey March 10.2 11.8 23:50 Japan Monetary Policy Meeting Minutes