The euro weakened to the least versus the yen since November 2000 and to a two-year low against the dollar on concern European policy makers aren’t doing enough to resolve the region’s financial crisis.
The 17-nation shared currency added to its three-week loss versus the greenback as Spain said the recession will extend into next year as the region of Valencia prepared to seek a rescue from the central government. Spanish borrowing costs approached a euro-era record high even after European finance ministers gave full approval to an aid package of as much as 100 billion euros ($122 billion) for the nation’s banks.
Spain’s benchmark 10-year bond yield climbed to as high as 7.284 percent, almost matching the 7.285 percent it touched a month ago. The 7 percent level was the threshold for global bailouts of Greece, Ireland and Portugal. Debt due in 2020 issued by Catalonia, the biggest Spanish regional economy, yielded 13.24 percent.
The yen and dollar rose against most major currencies as investors sought safety, while the euro fell against most.
The euro headed for a third weekly loss against the dollar and a fourth weekly drop versus the yen.
The pound appreciated 0.3 percent to 77.88 pence per euro and reached 77.71 pence, the strongest level since October 2008. The U.K. currency fell 0.6 percent to $1.5626.
European stocks dropped, paring their seventh successive weekly advance, as the yield premium for Spanish benchmark bonds over German bunds surged to a record, sparking concern the euro-area debt crisis is deepening.
Spanish bonds declined, pushing the extra yield investors demand to hold the nation’s 10-year securities instead of similar-maturity German bunds to the most on record. The similar spread for Italy surged above 5 percentage points for the first time since Jan. 16. Bunds, which serve as a haven for investors pulling money out of troubled economies, extended a third weekly gain.
Euro-area finance ministers gave the final approval for the bailout of Spanish banks for as much as 100 billion euros ($122 billion). Today’s decision, made on a conference call, paves the way for a first payment from the region’s temporary rescue fund, the European (SXXP) Financial Stability Facility.
National benchmark indexes dropped in all of the 18 western European markets today, except in Iceland and Greece. Germany’s DAX fell 1.9 percent, while the U.K.’s FTSE 100 lost 1.1 percent. France’s CAC 40 slid 2.1 percent. Spain’s IBEX 35 slumped 5.8 percent, the most since May 2010, and Italy’s FTSE MIB declined 4.4 percent.
Vodafone, Europe’s largest mobile-phone company, fell 1.7 percent to 180 pence after saying that its service revenue, excluding currency swings and the impact of acquisitions, gained 0.6 percent in the three months through June. Analysts had predicted growth of 0.8 percent, according to the average of estimates in a Bloomberg survey.
Scania rallied 3.9 percent to 120.10 kronor. The company said second-quarter orders rose from the first three months of 2012 because of Russian demand, and it predicted a growing need in Europe to replace vehicles.
Resistance of 3:1624 (high of June)
Resistance of 2:1614 (resistance line from Jun 6)
Resistance of 1:1600 (area of Jul 10 and 17 highs)
Current Price: 1580.90
Support 2:1564 (support line from May 16, area of weekly lows)
Support 2: 1548 (low of June)
Support 3: 1527 (low of May)

Oil fell for the first time in eight days on concern that European governments aren’t doing enough to contain the worsening debt crisis, raising worries that demand will slip.
Prices dropped from a two-month high as Spain’s cost of borrowing rose to a record after euro-area finance ministers gave final approval to a bank bailout for the country. The dollar strengthened to a two-year high against the euro and U.S. equities slid for the first time in four days.
Crude for August delivery fell to $90.66 a barrel on the New York Mercantile Exchange. Oil closed at the highest level since May 16 yesterday, capping a seven-day gaining streak that’s the longest since Feb. 24. Prices are down 7.7 percent this year.
Brent oil for September slid $1.43, or 1.3 percent, to $106.37 a barrel on the London-based ICE Futures Europe exchange.

Resistance 3:96,40 (MA (200) for D1)
Resistance 2:95,00 (61,8% FIBO 106,10-77,20)
Resistance 1:92,00 (session high)
Current Price: 91.06
Support 1:90,40 (session low)
Support 2:89,80 (bottom border of up channel from Jul 12)
Support 3:88,30 (Jul 18 low)

Комментарии: фьючерс начала сессию выше сопротивления, которое представляло собой 50,0% FIBO 106,10-77,20 и максимум 29 июня. Однако, удержать завоеванные позиции не удалось.
Gold depreciates against the euro and the decline of stock markets. Prices retreated rapidly from its peak this week after Federal Reserve Chairman Ben Bernanke during a report to Congress is not hinted at a new stage of "quantitative easing" and gave a pessimistic outlook for the economy.
"Quantitative easing" is beneficial for gold as an asset, not bearing interest, as it helps to keep interest rates low.
Stocks of the world's largest gold ETF-secured fund SPDR Gold Trust, on Thursday declined by 9 tons to six-month minimum.
The focus of investors on Friday once again switched to the euro-zone problem, and this adversely affects the European single currency. Much of the growth of the dollar has provoked Spain at the beginning of the session. The region of Valencia has asked the Spanish government for help to refinance its debt. The yield on the 10-year Spanish bonds rose again above 7%, while the main stock index fell this country. This triggered a massive decline of the euro.
August gold futures on the COMEX today fell to 1572.6 dollars per ounce.

EUR/USD $1.2200, $1.2225, $1.2250, $1.2260, $1.2300, $1.2325, $1.2385, $1.2400
USD/JPY Y78.70, Y79.30
GBP/USD $1.5650, $1.5600
AUD/USD $1.0370, $1.0300
AUD/JPY Y82.00
U.S. stock futures declined amid concern over Europe’s debt crisis.
Global Stocks:
Nikkei 8,669.87 -125.68 -1.43%
Hang Seng 19,640.8 +81.75 +0.42%
Shanghai Composite 2,168.64 -16.20 -0.74%
FTSE 5,673.93 -40.26 -0.70%
CAC 3,215.97 -47.67 -1.46%
DAX 6,693.72 -64.67 -0.96%
Crude oil $91.38 (-1,38%)
Gold $1577.20 (-0.20%)
Verizon (VZ) was downgraded to a Neutral from Outperform at Credit Suisse.
Microsoft initiated with a Buy at Griffin Securities; tgt $38.
Data:
01:30 Australia Import Price Index, q/q Quarter II -1,2% +1,6% +2.4%
01:30 Australia Export Price Index, q/q Quarter II -7.0% 0.0% +1.0%
06:00 Germany Producer Price Index (MoM) June -0.3% -0.2% -0.4%
06:00 Germany Producer Price Index (YoY) June +2.1% +1.8% +1.6%
08:30 United Kingdom PSNB, bln June 15.6 12.5 14.4
The euro was trading with an increase in the beginning of the session, but fell sharply after it became known that during the conference call by European finance ministers will discuss the conditions for the rescue of banks in Spain.
The euro fell to a minimum by more than three years against the pound, as economists had read the forecast, which says that the gauge of consumer confidence can fall to a three-year minimum, and the production will be reduced 12 per month in a row. The dollar rose against most major currencies, while European and Asian stocks fell, which caused an increasing demand for U.S. currency.
Recall that today EU finance ministers hold a conference that would consider the terms of bank bailout in Spain. It is learned that scrip tranche of 100 billion euros
The pound weakened against the dollar after a report showed that the budget deficit in June was greater than expected. The deficit, which excludes government support for banks, amounted to 14.4 billion pounds ($ 23 billion), compared with 13.9 billion pounds a year earlier. Economists forecast a deficit in the bag are his work 13.4 billion pounds.
EUR/USD: at the beginning of session, the pair traded in a narrow range, but later fell sharply and the exchange rate reached the level of $ 1.2190
GBP/USD: a pair of mid-session trading on the maximum values of yesterday, but then fell sharply to $ 1.5660
USD/JPY: within a couple of sessions reached a minimum consolidated at Y78.45, little recoil, and is now trading in the minimum values of the day
At 12:30 GMT, Canada will provide the consumer price index for June and core consumer price index from the Bank of Canada in June.
EUR/USD
Offers $1.2320/30, $1.2300
Bids $1.2175/70, $1.2125/20
GBP/USD
Offers $1.5750/55
Bids $1.5684, $1.5660/50, $1.5625/20, $1.5600, $1.5555/50, $1.5535/30, $1.5500
EUR/JPY
Offers Y97.50, Y97.00, Y96.50
Bids Y96.00, Y95.65/60, Y95.50
AUD/USD
Offers $1.0550, $1.0500
Bids $1.0360/50, $1.0325/20, $1.0300, $1.0250
EUR/GBP
Offers stg0.7920/30, stg0.7895/900, stg0.7880/85, stg0.7845/55
Bids stg0.7785/80, stg0.7755/50, stg0.7700/690
USD/JPY
Offers Y79.00
Bids Y78.50, Y78.15/10, Y78.00
Resistance 3: Y79.95 (July 12 high)
Resistance 2: Y79.12 (July 11 low, July 18 high)
Resistance 1: Y78.70 (July 16 low, July 19 high)
Current price: Y78.58
Support 1: Y78.40 (July 19 low)
Support 2: Y78.10 (June 5 low)
Support 3: Y77.65 (June 1 low)

Resistance 3: Chf0.9875 (July 13 high)
Resistance 2: Chf0.9850 (July 16 high)
Resistance 1: Chf0.9830 (July 18 high)
Current price: Chf0.9815
Support 1: Chf0.9735/45 (July 10 and 19 low)
Support 2: Chf0.9715 (38,2% of FIBO (0.9465-0.9875), July 5 high)
Support 3: Chf0.9670/80 (50% FIBO (0.9465-0.9875), June 28 low, July 6 low)

Resistance 3: $ 1.5845 (May 22 high)
Resistance 2: $ 1.5780 (June 20 high)
Resistance 1: $ 1.5720 (July 2 and 19 high)
Current Price: $ 1.5699
Support 1: $ 1.5635 (July 19 low)
Support 2: $ 1.5590/95 (38.2% at FIBO ($ 1.5395-$ 1.5722), July 16 high)
Support 3: $ 1.5555/60 (50% FIBO ($ 1.5395-$ 1.5722), July 17 low)

Resistance 3: $ 1.2405 (July 6 high, June 28 low)
Resistance 2: $ 1.2365 (38.2% of FIBO ($ 1.2163-$ 1.2695), a minimum of 5 July)
Resistance 1: $ 1.2315/20 (July 17 and 19 high)
Current Price: $ 1.2229
Support 1: $ 1.2215 (July 18 low)
Support 2: $ 1.2165 (July 12 low)
Support 3: $ 1.2116 (June 2010 low)

The focus of the market are corporate reports, as well as teleconference eurozone finance ministers, which is expected to be approved by the program of financial assistance to the banking sector in Spain.
The British company Vodafone Group Plc, the largest mobile operator in Europe and the world by revenue, according to financial results of I quarter ended June 30, reduced total revenue by 7.7% in annual terms.
In April-June revenues totaled 10.77 billion Vodafone pounds ($ 16.90 billion), while the market was expecting, on average, this figure at 10.88 billion pounds,
The company blames the decline in sales of difficult economic conditions, especially the problems in Europe, especially Italy and Spain.
Revenue from services - a key indicator tracked by analysts in the UK - has declined in the last quarter by 8.1% to 9.98 billion pounds. In Europe, where the company gets about three-quarters of income, this figure fell to 8.7% - up to 6.94 billion pounds.
Against this backdrop, Vodafone shares were down 1.6%.
1.5% of the shares of the operator added the London Stock Exchange London Stock Exchange Group on the background information on the merger with the exchange company in Singapore Singapore Exchange Ltd. Earlier, the head of the last Boker Magnus held several informal meetings with the chief executive officer of LSE Xavier Rollet, told the British press. At the same time one of the most respected business publications wrote that the stock exchange operators are in talks to expand cooperation, and not a merger.
Despite the declines in the shares rose 5.45% truck manufacturer Scania. In the I half of 2012 net income of Scania reduced by 34% and amounted to 3.25 billion kronor (382.1 million euros), as compared to 4.95 billion euros for the same period last year.
Brewer Heineken added to the capitalization of 1.41% after the news of the intention to repurchase shares brewing company Asia Pacific Breweries Ltd. . The transaction amount is estimated at 4.07 billion dollars
At the moment:
FTSE 100 5,701.80 -12.39 -0.22%
DAX 6,771.13 +12.74 +0.19%
CAC 3,260.27 -3.37 -0.10%
EUR/USD $1.2200, $1.2225, $1.2250, $1.2260, $1.2300, $1.2325, $1.2385, $1.2400
USD/JPY Y78.70, Y79.30
GBP/USD $1.5650, $1.5600
AUD/USD $1.0370, $1.0300
AUD/JPY Y82.00
Asian stocks fell, paring a weekly gain in the benchmark regional index, amid speculation China will keep property curbs in place and as U.S. economic reports missed estimates.
Nikkei 225 8,669.87 -125.68 -1.43%
S&P/ASX 200 4,199.1 -7.59 -0.18%
Shanghai Composite 2,165.01 -19.83 -0.91%
Toyota Motor Corp., Asia’s top carmaker by market value, fell 1.7 percent in Tokyo.
Shimao Property Holdings Ltd., a developer that makes all its revenue from China, slumped 2.1 percent in Hong Kong after Xinhua News Agency said the government won’t relax property control policies.
Taiwan Semiconductor Manufacturing Co., a contract manufacturer of chips, declined 1.3 percent in Taipei after saying revenue will “dip” in the fourth quarter because of a weak global economy.
01:30 Australia NAB Quarterly Business Confidence Quarter II -1 -2
04:30 Japan All Industry Activity Index, m/m May +0.1% -0.2% -0.3%
The euro slid against most of its major peers before data next week that economists say will show a gauge of consumer confidence was near a three-year low and manufacturing continued to shrink in the 17-nation region. An index of household sentiment in the euro region was probably unchanged this month from June at minus 19.8, economists surveyed by Bloomberg News predict. The European Commission will release the figure on July 23. The index slid to minus 21.3 in December, the lowest since August 2009.
A gauge for manufacturing in the currency bloc is estimated to be at 45.3 in July, according to a separate survey. That’s below the 50 level that separates expansion from contraction and compares with a reading of 45.1 last month. London-based Markit Economics is scheduled to report the data on July 24.
Europe’s common currency was 0.2 percent from a more than three-year low versus the British pound after Spain’s borrowing costs surged at an auction yesterday, rekindling concern the region’s debt crisis is deepening. Spain sold five-year notes yesterday with an average yield of 6.459 percent, the highest since at least 2005, according to data compiled by Bloomberg.
The dollar strengthened against a majority of its 16 most-traded counterparts as Asian stocks fell, boosting demand for the U.S. currency as a haven.
EUR / USD: during the Asian session the pair was trading in range $1.2250-$1.2285.
GBP / USD: during the Asian session the pair was trading in range $1.5695-$1.5715.
USD / JPY: during the Asian session the pair rose to yesterday's high.
In Europe Friday, Eurozone finance ministers are due to finalise the details of the Spanish financial sector rescue plan. Scheduled European data sees Germany PPI data at 0600GMT, which is expected to come in at -0.3% m/m and 1.8% y/y. UK data sees the 0830GMT release of the Public Sector Finances. US data is limited with just the 1400/1500GMT BLS State Unemployment and Mass Layoffs data, followed later on by the 2030GMT release of C&I loans data.
The euro fell for a second day versus the dollar after German Finance Minister Wolfgang Schaeuble said Spain must take over guarantees for bailout funding, adding to concern European leaders will struggle to stem their sovereign-debt crisis.
The euro gained versus the dollar today before Schaeuble said Spain would remain liable for as much as 100 billion euros ($123 billion) of aid. German lawmakers approved their government’s participation in the euro-area bailout of Spanish banks after the assurance.
While there was broad support to help Spain, lawmakers demanded reassurances that German taxpayer money will be channeled via the Spanish government and not go directly to banks themselves. They raised concerns that loopholes may enable such a route when the program shifts from the current rescue fund to the permanent European Stability Mechanism.
Asian stocks rose, with the benchmark index headed toward its biggest gain in almost three weeks, amid speculation China will do more to boost growth and after U.S. housing starts jumped to the highest in four years.
Nikkei 225 8,795.55 +68.81 +0.79%
S&P/ASX 200 4,206.69 +83.09 +2.02%
Shanghai Composite 2,184.84 +15.74 +0.73%
The Hang Seng China Enterprises Index of Chinese companies listed in the city jumped 2.4 percent as the country’s swap market signaled a further reduction in the reserve ratio requirement for banks.
BHP Billiton Ltd., Australia’s biggest oil producer, increased 2.5 percent as crude prices exceeded $90 a barrel for the first time since May.
Man Wah Holdings Ltd., a sofa maker which gets more than half of its sales from the U.S., climbed 4.9 percent in Hong Kong.
European stocks rose to the highest level since early April as companies reported quarterly earnings that exceeded analysts’ estimates.
Spain’s five-year borrowing costs surged at a debt sale today, while France paid record-low yields of less than 1 percent to sell similar securities.
Spanish five-year notes yielded an average 6.459 percent, compared with 6.072 percent a month ago. French yields for the same maturity fell to 0.86 percent, almost half of last month’s level. Spain sold debt as lawmakers debated spending cuts in Parliament, where police erected barriers and stood guard.
Spanish 10-year bonds extended their decline, pushing the yield through 7 percent for the first time since July 10, after the auction.
National benchmark indexes rose in all 18 western European markets except Portugal and Iceland. The U.K.’s FTSE 100 gained 0.5 percent. France’s CAC 40 climbed 0.9 percent and Germany’s DAX advanced 1.1 percent.
Nokia surged 12 percent to 1.54 euros. The unprofitable mobile-phone maker posted sales of its flagship smartphone that topped some analysts’ estimates. Sales of the Lumia product increased to 4 million units in the second quarter, Espoo, Finland-based Nokia said.
Novartis AG rose 1.7 percent to 56 francs. The company reported second-quarter profit that declined less than analysts forecast, helped by increasing sales of new products such as the Gilenya treatment for multiple sclerosis and the Afinitor cancer drug.
Electrolux AB, the world’s second-biggest appliance maker, rose 6.2 percent to 153.70 kronor as it reported second-quarter earnings that beat analysts’ estimates after it succeeded in pushing through higher prices in North America.
Resistance 3: Y79.40 (Jul 13 high, MA (50) D1)
Resistance 2: Y79.15 (Jul 17 high, MA (200) H1)
Resistance 1: Y78.80 (session high)
Current price: Y78.61
Support 1: Y78.40 (Jul 19 low)
Support 2: Y78.00/10 (area of Jun 4-5 lows )
Support 3: Y77.65 (Jun 1 low)

Resistance 3: Chf0.9850 (Jul 17 high)
Resistance 2: Chf0.9820/30 (area of Jul 18-19 highs)
Resistance 1: Chf0.9805 (session high, MA (200) H1)
Current price: Chf0.9795
Support 1: Chf0.9775 (session low)
Support 2: Chf0.9735/45 (area of Jul 10-19 lows)
Support 3: Chf0.9685 (Jul 6 low)

Resistance 3: $ 1.5825 (May 22 high)
Resistance 2: $ 1.5775 (Jun 20 high, MA (100) D1)
Resistance 1: $ 1.5735 (Jul 19 high, MA (200) D1)
Current Price: $ 1.5704
Support 1: $ 1.5635 (Jul 19 low, MA (50) D1)
Support 2: $ 1.5580 (Jul 18 low, MA (200) H1)
Support 3: $ 1.5410 (Jul 16 low)

Resistance 3: $ 1.2400 (July 6 high)
Resistance 2: $ 1.2325/35 (area of Jul 10-19 highs)
Resistance 1: $ 1.2285 (session high)
Current Price: $ 1.2261
Support 1: $ 1.2250 (session low
Support 2: $ 1.2215/30 (area of Jul 18-19 lows)
Support 3: $ 1.2190 ( Jul 17 low)

Change % Change Last
Gold 1,582 +11 +0.68%
Oil 92.30 +2.43 +2.70%
Change % Change Last
Nikkei 225 8,795.55 +68.81 +0.79%
S&P/ASX 200 4,206.69 +83.09 +2.02%
Shanghai Composite 2,184.84 +15.74 +0.73%
FTSE 100 5,714.19 +28.42 +0.50%
CAC 40 3,263.64 +28.24 +0.87%
DAX 6,758.39 +73.97 +1.11%
Dow 12,943 +35 +0.27%
Nasdaq 2,966 +23 +0.79%
S&P 500 1,377 +4 +0.27%
(pare/closed(00:00 GMT +02:00)/change, %)
EUR/USD $1,2294 +0,05%
GBP/USD $1,5663 +0,10%
USD/CHF Chf0,9768 -0,06%
USD/JPY Y78,54 -0,69%
EUR/JPY Y96,55 -0,64%
GBP/JPY Y123,00 -0,58%
AUD/USD $1,0385 +0,80%
NZD/USD $0,8010 +0,52%
USD/CAD C$1,0090 -0,35%
01:30 Australia Import Price Index, q/q Quarter II -1,2% +1,6% +2.4%
01:30 Australia Export Price Index, q/q Quarter II -7.0% 0.0% +1.0%
06:00 Germany Producer Price Index (MoM) June -0.3% -0.2%
06:00 Germany Producer Price Index (YoY) June +2.1% +1.8%
08:30 United Kingdom PSNB, bln June 15.6 12.5
12:30 Canada Consumer Price Index m / m June -0.1% -0.1%
12:30 Canada Consumer price index, y/y June +1.2% +1.8%
12:30 Canada Bank of Canada Consumer Price Index Core, m/m June +0.2% -0.1%
12:30 Canada Bank of Canada Consumer Price Index Core, y/y June +1.8% +2.3%
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