Noticias del mercado
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20:00
American focus: the euro rose
The euro traded near a course nearly two-week high against the U.S. dollar amid the region's finance ministers meeting in Brussels, the purpose of which is to discuss the provision of 15 billion euros for Greece.
The yen fell for a fifth day against the dollar even after a representative of the opposition party, the Bank of Japan Governor Masaaki Shirakawa said that the proposals for currency depreciation are unrealistic.
The dollar rose against most of the 16 most traded currencies as Federal Reserve Chairman Ben Bernanke warned that the U.S. economy could fall into recession, in case, if lawmakers can not escape the so-called "financial failure." Note also that his comments match what he said in the past, namely that unemployment is still high, the housing market is gradually recovering, and one only, monetary policy can not solve the problems in the U.S. economy. This is yet another signal of the U.S. Congress that it has reached an agreement on long-term debt. Meanwhile, he has not commented on the situation with Operation Twist, whose term comes to an end this year.
At the same time, these currencies like the New Zealand dollar, Australian dollar and South African rand depreciated, which was caused by the fall in commodity markets.
Note also that the earlier the euro fell as ratings agency downgraded France by one notch to Aa1 from Aaa, saying at the same time that the country's prospects remain negative.
The Canadian dollar fell against most currencies as speculation regarding the cease-fire the Middle East has caused oil prices decline, which departing month high. But currency losses were limited, because yesterday the International Monetary Fund said it is considering classifying the Canadian and Australian dollar as a reserve currency. Well as the depreciation of the currency affected the published data, which showed that the volume of wholesale sales fell in September, registering with the fastest rate of decline over the past 19 months. According to the report, wholesale sales fell by 1.4% to 48.8 billion Canadian dollars. -
16:00
EUR / USD back to $ 1.2800 after the speech of the Fed's Lacker
The EUR / USD in early U.S. session broke resistance at $ 1.2820 and peaked at $ 1.2830, but then weakened, breaking through support at $ 1.2800 after the Fed's Lacker argued for limiting Congress authority of the Central Bank in the field of monetary policy and against the communication policy of the Central Bank at the rate of unemployment. Also, Reuters reported that Italy can veto the budget eurozone, if it does not comply with the national interest.
Now prices are consolidated at around $ 1.2800 after weak data on building permits and positive - the number of residential buildings. Now the markets are waiting for the speech of Fed Bernanke on "fiscal cliff."
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15:45
USD / JPY updated 7-month high after the data on the housing market in the U.S.
The dollar strengthened against the yen, reaching a seven-month high after a number of residential buildings in the U.S. in October exceeded forecasts.
The USD / JPY broke resistance at 81.60 and reached a high of 81.72.
Dollar for 5 consecutive days the yen strengthened on expectations that the opposition party, the LDP, which supports legislation to mitigate the Bank of Japan could win the election on December 16.
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15:18
Lacker: Fed may need to restrict purchases of private sector assets
The Fed needs to better clarify its policy
There is a "policy drift" in the search for the best ways of communication
Fed policy should ensure the stability of inflation expectations
There is evidence that the Fed's bond purchases have "ambiguous" effect
Lacker is not supported by the Fed aimed only one sector
Financial stability will elude us without restrictions on bank bailouts
If the Fed itself will not be able to limit the credit policy, this may require legislation
Central banks must show more restraint
Central banks sometimes try to do too much
Independence and effectiveness of the Fed's call for limits ambitions
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15:04
Fed's Lacker: Interest rates near zero difficult to predict the Fed's policy of public
Should provide an explanation of the process of decision-making Fed
The credibility of the Fed is not so high to play with inflation -
14:45
Option expiries for today's 1400GMT cut:
EUR/USD $1.2700, $1.2750, $1.2800, $1.2825
GBP/USD $1.5900
AUD/USD $1.0250, $1.0360
USD/JPY Y80.50, Y81.00
AUD/JPY Y85.85
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14:32
Canada: Wholesale Sales, m/m, September -1.4% (forecast +0.3%)
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14:31
U.S.: Housing Starts, mln, October 0.894 (forecast 0.840)
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14:30
U.S.: Building Permits, mln, October 0.866 (forecast 0.865)
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14:18
European session: the euro rose
07:00 Switzerland Trade Balance October 1.93 2.09 2.82
07:00 Germany Producer Price Index (MoM) October +0.3% +0.2% 0.0%
07:00 Germany Producer Price Index (YoY) October +1.7% +1.6% +1.5%
07:00 Japan BOJ Press Conference -
08:00 Eurozone Eurogroup Meetings -
The euro rose against the dollar on the background of today's meeting of finance ministers of the region in the provision of aid to Greece. Also today, the EU finance ministers will meet with representatives of the IMF, to decide on the need for Greece's next tranche of financial support in the amount of 31.5 billion euros. Most likely, according to analysts, the decision is positive, after the EU allowed the Greek bonds for 5 billion euros to repay debt securities by 5 billion euros, was held by the ECB. In addition, there are rumors that the "troika" of international lenders allowed to give Greece another two years to reduce the deficit to the recommended level.
In Germany, the annual rate of PPI in October registered a growth of 1.5% against 1.7% in August and forecasts at 1.7%.
Today the auction Treasury debt of Spain was able to attract the E4, 938 billion from planned E3 ,5-4, 5 billion Yield of 12-month securities was 2.797% from 2.823% at the previous auction, and 18-month-old - 3.034% vs. 3.022%.
As the growth in risk appetite helped the statement made by the ECB Cara that financial markets have stabilized significantly since July, but the situation in the euro area as a whole is similar to the situation in Japan in the 90's.
Yesterday, Moody's downgraded the credit rating of France to Aa1, but markets did not pay attention to this event. French Finance Minister expressed his disagreement with the actions of the agency, stating that the review does not reflect the current state of the fundamentals and does not consider the current reforms undertaken by the government.
Later, data will be published on the number of residential buildings and construction permits, however, the focus will be on the players' performance of the Fed Bernanke.
The yen fell against the dollar amid today's decision of the Bank of Japan to refrain from increasing the incentive programs. Thus, in the two-day meeting, the Bank of Japan decided to keep the volume of purchases of assets of 66 trillion yen ($ 812 billion). As you can see, the head of the Japanese Central Bank Governor Masaaki Shirakawa and his board voting to continue to conduct its monetary policy, despite calls to conduct unlimited stimulation by opposition leader Shinzo Abe, who, according to preliminary estimates, could be the new prime minister after elections next month .
EUR / USD: during the European session, the pair set a high at $ 1.2825
GBP / USD: during the European session, the pair set a high at $ 1.5935
USD / JPY: during the European session, the pair rose to the level of Y81.59
At 13:30 GMT, Canada will release the change in volume of wholesale trade for September. At 13:30 GMT the U.S. will the volume of building permits issued and the number of new foundations of bookmarks for October. At 14:00 GMT a speech FOMC member Jeffrey Lacker. At 21:30 GMT the U.S. will be known data on changes in the volume of crude oil, according to API. At 23:30 GMT Australia is to publish an index of leading economic indicators from the Melbourne Institute in September. At 23:50 GMT Japan will total balance of foreign trade in goods, the adjusted balance of trade in goods, the change in volume of exports and imports of goods in October.
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14:00
Orders
EUR/USD
Offers $1.2900, $1.2850
Ордера на покупку $1.2750, $1.2740, $1.2720, $1.2705/00
GBP/USD
Offers $1.6050, $1.6000, $1.5980/85, $1.5940/50
Bids $1.5855/50, $1.5830/25, $1.5810/00, $1.5780
AUD/USD
Offers $1.0500, $1.0450
Bids $1.0355/50, $1.0300
EUR/JPY
Offers Y105.20, Y105.00, Y104.50
Bids Y103.55/50, Y103.20, Y103.00, Y102.70
USD/JPY
Offers Y82.00, Y81.75, Y81.50
Bids Y81.00, Y80.80/70, Y80.50/40
EUR/GBP
Offers stg0.8150, stg0.8120, stg0.8100, stg0.8075/80
Bids stg0.8020/15, stg0.8005/00, stg0.7965/60, stg0.7945/40
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12:30
EFSF BILL AUCTION RESULTS:
EFSF sold E1.966bln of a new 6-month
Bill at average yield -0.0053% vs -0.0433% prev, cover 2.5 vs 2.4 prev
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11:45
COEURE: Can't say we have single currency when mkts fragmented
- Need bank resolution scheme along w/single supervisor
- Resolution scheme can come later than supervisor
- EMU resolution fund should be funded mostly by banks
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11:31
Option expiries for today's 1400GMT cut
EUR/USD $1.2700, $1.2750, $1.2800, $1.2825
GBP/USD $1.5900
AUD/USD $1.0250, $1.0360
USD/JPY Y80.50, Y81.00
AUD/JPY Y85.85
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11:19
Spain auction results:
Sold E4.938bln vs target E3.5-E4.5bln
E4.225bln 12-month Letra; bid-to-cover 2.12 (2.71). Avg yield 2.797% vs 2.823% prev
E713mln 18-month Letra; bid-to-cover 5.72 (3.04). Avg yield 3.034% vs 3.022% prev
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10:13
From Governor Glenn Stevens speech:
AUD MAY HAVE ROLE TO PLAY IN NEEDED ECON REBALANCE
SOME EVIDENCE OF TURNING PT IN HSG CONSTRUCTION
AUD MAY HAVE ROLE TO PLAY IN NEEDED ECON REBALANCE
SOME EVIDENCE OF TURNING PT IN HSG CONSTRUCTION
SURPRISING AUD HASNT FALLEN MUCH VS TERMS OF TRADE
OUTLOOK FOR NON-MINING BIZ INVESTMENT SUBDUED -
10:02
From Governor Glenn Stevens speech:
AUD MAY HAVE ROLE TO PLAY IN NEEDED ECON REBALANCE
SOME EVIDENCE OF TURNING PT IN HSG CONSTRUCTION
AUD MAY HAVE ROLE TO PLAY IN NEEDED ECON REBALANCE
SOME EVIDENCE OF TURNING PT IN HSG CONSTRUCTION
SURPRISING AUD HASNT FALLEN MUCH VS TERMS OF TRADE
OUTLOOK FOR NON-MINING BIZ INVESTMENT SUBDUED -
09:36
Forex: Monday’s review
The euro rose against the dollar after it was reported that Greece will receive its next tranche of financial aid is December 5. The decision was taken at a meeting of eurozone finance, which was held in Paris, and whose purpose was to develop a common position on salvation. Note also that the ministers will meet in Brussels, where they will give a preliminary approval for the allocation of 44 billion euros ($ 56 billion).
The dollar fell against all 16 major counterparts as speculation that U.S. lawmakers will reach an agreement on the budget of the country and to prevent the so-called "financial failure" caused a decline in demand for safe assets.
Canadian and Australian dollars rose against the U.S. dollar, as the International Monetary Fund said it is considering to include the Australian and Canadian dollar in the official report on foreign currency reserves.
The dollar index, which is used to track the value of the dollar against the currencies of six U.S. partner, fell by 0.5% to 80.870 after reaching 81.455 on November 16, which is the highest since September 5. Also, the dollar's decline was due to the withdrawing of data, which showed that sales in the secondary market rose in October, indicating that the success of the real estate market is currently supported by cheap borrowing costs.
Japan's currency fell against all but three of the major currencies, after Kyodo News reported that the LDPR leader Shinzo Abe to choose the head of the Bank of Japan who advocate of the inflation target.
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08:20
Asian session: The yen rallied from near its weakest level
00:30 Australia RBA Meeting's Minutes -
04:30 Japan All Industry Activity Index, m/m September 0.0% -0.4% -0.3%
05:00 Japan BoJ Interest Rate Decision - 0.10% 0.10% 0.10%
05:00 Japan BoJ Monetary Policy Statement -
07:00 Australia RBA's Governor Glenn Stevens Speech
The yen rallied from near its weakest level in almost seven months as the Bank of Japan refrained from boosting stimulus measures at the conclusion of a two-day meeting today. The BOJ said today it would keep its asset-purchase fund at 66 trillion yen ($812 billion) and a credit-lending facility at 25 trillion yen. The Japanese currency rose versus most of its 16 major counterparts as BOJ Governor Masaaki Shirakawa and his board kept policy unchanged amid calls for unlimited easing by opposition leader Shinzo Abe, who polls indicate may become prime minister following elections next month.
The euro weakened against its peers after Moody’s Investors Service stripped France of its top government bond rating, renewing concern that Europe’s debt crisis will deepen. Moody’s cut France by one grade to Aa1 and said its outlook remains negative. “France’s fiscal outlook is uncertain as a result of its deteriorating economic prospects,” the ratings company said in a statement dated yesterday. Moody’s downgrade of the nation follows similar action by Standard & Poor’s in January.
Since S&P’s downgrade, French government bonds have gained 9.4 percent, compared with 3.4 percent for German debt, and 2.5 percent for that of the U.S., according to Bank of America Merrill Lynch data.
Finance officials from France, Germany, Italy and Spain convened yesterday in Paris to forge a common position on Greece’s next aid payment before a gathering with the rest of their euro-area counterparts today, according to a European aide. Lengthening maturities on Greek debt and lowering rates on the country’s bailout loans are the main options being discussed to plug a funding gap, said the official, who declined to be named because the talks aren’t public.
EUR/USD: during the Asian session the pair fell to $1.2765, but recovered later.
GBP/USD: during the Asian session, the pair rose to yesterday's highs.
USD/JPY: during the Asian session the pair fell to yesterday's lows.
There is a full calendar on both sides of the Atlantic Tuesday, with the Eurogroup meeting of EZ finance ministers likely to dominate proceedings later in the day. The meeting is primarily to discuss the disbursement of the next tranche of Greek aid. However, France will probably be mentioned in dispatches following the overnight downgrade by Moody's. European data gets underway at 0700GMT, with the release of the German October PPI data. At 0900GMT, German Finance Minister Wolfgang Schaeuble gives his budget speech in the Bundestag.
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08:03
Germany: Producer Price Index (YoY), October +1.5% (forecast +1.6%)
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07:22
Currencies. Daily history for Nov 19'2012:
(pare/closed(00:00 GMT +02:00)/change, %)
EUR/USD $1,2812 +0,59%
GBP/USD $1,5907 +0,12%
USD/CHF Chf0,9398 -0,61%
USD/JPY Y81,40 +0,20%
EUR/JPY Y104,31 +0,81%
GBP/JPY Y129,48 +0,32%
AUD/USD $1,0412 +0,66%
NZD/USD $0,8198 +0,96%
USD/CAD C$0,9961 -0,47% -
07:02
Schedule for today, Tuesday, Nov 20’2012:
00:30 Australia RBA Meeting's Minutes -
04:30 Japan All Industry Activity Index, m/m September +0.1% -0.4%
05:00 Japan BoJ Interest Rate Decision - 0.10% 0.10%
05:00 Japan BoJ Monetary Policy Statement -
07:00 Australia RBA's Governor Glenn Stevens Speech -
07:00 Switzerland Trade Balance October 2.01 2.09
07:00 Germany Producer Price Index (MoM) October +0.3% +0.2%
07:00 Germany Producer Price Index (YoY) October +1.7% +1.6%
07:00 Japan BOJ Press Conference -
08:00 Eurozone Eurogroup Meetings -
13:30 Canada Wholesale Sales, m/m September +0.5% +0.3%
13:30 U.S. Building Permits, mln October 0.894 0.865
13:30 U.S. Housing Starts, mln October 0.872 0.840
14:00 U.S. FOMC Member Laker Speaks -
17:15 U.S. Fed Chairman Bernanke Speaks -
23:30 Australia Leading Index September +0.5%
23:50 Japan Adjusted Merchandise Trade Balance, bln October -980.3 -492.1 -
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