The dollar fell against most major currencies, as investors continue to be convinced that central banks around the world will support measures to stimulate the economy, which immediately led to a growing demand for higher-yielding assets. Add that little support for the U.S. currency has had a report that showed that the number of U.S. workers who filed new claims for unemployment benefits fell for the first time in four weeks, but analysts warn against too optimistic estimates due to seasonal fluctuations around the Easter holiday. Number of unemployment, the rate of layoffs measures, dropped by 42,000 to a seasonally adjusted 346,000 in the week ended April 6. This was the biggest weekly decline since November. Economists had forecast 362,000 new claims for unemployment benefits. Claims for the previous week were revised up to 388,000.
Also today it was announced that Italy held an auction for 3-year government debt, being able to draw on its results of 7.169 billion euros, exceeding the planned amount of E5.5-5.7 billion average yield of the bonds was 2.29%, compared to the previous auction results 2.48%. It was the lowest level since January.
The Canadian dollar rose against the U.S. dollar on Thursday, approaching a new two-month high, as traders sold the dollar due to the ongoing rally in risky assets. The lack of negative events, investors pulled out of safe assets, currencies such as the Canadian dollar and the Australian dollar took the opportunity to make a profit, while global equity markets rallied. Data on unemployment fell for the first time in four weeks from 42 000 to 346 000 to a seasonally adjusted for the week ending April 6. In Canada, prices rose 0.2% in February, slightly ahead of expectations of 0.1%
The New Zealand dollar rose to a 20-month high on Thursday on remarks made by Finance Minister Bill English that the state budget for the 2013-2014 fiscal year will involve the development of a surplus in the 2014-2015 financial year. A strong index of activity in the manufacturing sector of New Zealand presented by BNZ Capital-Business NZ, also contributed to the growth of the New Zealand currency. Despite the fact that in March, with the seasonally adjusted index fell to 53.4 against 56.0 in February, it remained above the 50 level that indicates an increase in activity. These New Zealand's housing market has also been positive. According to the report, the Real Estate Institute of New Zealand (REINZ), the median price of housing in March increased by 4.7% compared to February and totaled 400,000 New Zealand dollars (344,000 U.S. dollars). Compared with the same period last year the median price rose 8.1%.
The
seasonally adjusted unemployment rate increased to 27.2 percent in January from
25.7 percent in December. In January 2012, the jobless rate was 21.5 percent,
the Hellenic Statistical Authority said Thursday.
The number
of unemployed persons increased 7.6 percent month-on-month to around 1.35
million in January. On an annual basis, unemployment climbed 26.3 percent.
At the same
time, the number of employed persons in the country edged down 0.3 percent
sequentially to around 3.62 million in January. Compared to January 2012,
employment dropped by 7 percent.
EUR/USD $1.3085, $1.3090, $1.3100, $1.3115, $1.3125, $1.3200
USD/JPY Y98.00, Y98.45, Y98.50, Y99.00, Y99.50, Y99.70, Y100.00, Y100.20
GBP/USD $1.5200, $1.5300
EUR/CHF Chf1.2150, Chf1.2200, Chf1.2350
AUD/USD $1.0450, $1.0480, $1.0485, $1.0500, $1.0525, $1.0550
Canada's
monthly new house prices increased slightly more than expected in February with
Calgary in the oil-rich province of Alberta posting the largest gain in almost
six years.
Prices of
new houses nationwide climbed 0.2%, faster than the 0.1% gain in January,
Statistics Canada said Thursday.
The
consensus call was for a 0.1% increase, according to a report from Royal Bank
of
The biggest
monthly rise was in
Meanwhile,
prices were unchanged in the combined metropolitan region of
In the
Ottawa-Gatineau region, encompassing the nation's capital, prices fell 0.2%,
the second monthly decline, due to softer market conditions.
With prices for fuel imports showing a notable decrease, the Labor Department released a report on Thursday showing a pullback by import prices in the month of March.
The Labor Department said import prices fell by 0.5 percent in March following a revised 0.6 percent increase in February. The decrease in prices matched economist estimates.
The report also showed that export prices dropped by 0.4 percent in March after rising by a revised 0.7 percent in the previous month. Economists had expected export prices to edge up by 0.1 percent.
First-time claims for U.S. unemployment benefits fell by more than anticipated in the week ended April 6th, according to a report released by the Labor Department on Thursday, with the data likely to offset some of the recent concerns about the labor market.
The report showed that initial jobless claims fell to 346,000, a decrease of 42,000 from the previous week's revised figure of 388,000. Economists had expected jobless claims to drop to 365,000 from the 385,000 originally reported for the previous week.
06:00 Germany CPI, m/m (Finally) March +0.5% +0.5% +0.5%
06:00 Germany CPI, y/y (Finally) March +1.4% +1.4% +1.4%
06:45 France CPI, m/m March +0.3% +0.7% +0.8%
06:45 France CPI, y/y March +1.0% +1.0% +1.0%
08:00 Eurozone ECB Monthly Report April
The euro rose to the strongest level in six weeks most versus the dollar as Italian and Spanish borrowing costs fell, indicating optimism that Europe’s debt crisis is abating. The 17-nation currency advanced to a more than three-year high versus the yen.
The greenback declined versus 15 of its 16 major peers as investors bet that central banks around the world will maintain stimulus measures, bolstering demand for higher- yielding assets.
The yen halted a decline versus the U.S. currency that took it to within 0.2 percent of 100 per dollar.
Australia’s currency jumped to the highest since January and the New Zealand dollar strengthened to the most since August 2011.
Earlier today, the Australian dollar fell after news of an unexpected increase in unemployment in March. Unemployment in Australia in March rose to its highest level in more than three years, casting doubt on the view that the economy in the past period in 2013 strengthened, supported by near-record low interest rates. As reported on Thursday, Australian Bureau of Statistics, the unemployment rate in Australia in March, adjusted for seasonal variations rose to 5.6% from 5.4% in February. Economists had expected that he would remain unchanged, and again will be 5.4%.
The New Zealand dollar rose to a 20-month high on Thursday on remarks made by Finance Minister Bill English that the state budget for the 2013-2014 fiscal year will involve the development of a surplus in the 2014-2015 financial year. A strong index of activity in the manufacturing sector of New Zealand presented by BNZ Capital-Business NZ, also contributed to the growth of the New Zealand currency. Despite the fact that in March, with the seasonally adjusted index fell to 53.4 against 56.0 in February, it remained above the 50 level that indicates an increase in activity. These New Zealand's housing market has also been positive. According to the report, the Real Estate Institute of New Zealand (REINZ), the median price of housing in March increased by 4.7% compared to February and totaled 400,000 New Zealand dollars (344,000 U.S. dollars). Compared with the same period last year the median price rose 8.1%.
EUR / USD: during the European session, the pair rose to $ 1.3138
GBP / USD: during the European session, the pair rose to $ 1.5407
USD / JPY: during the European session, the pair fell to Y99.32
At 12:30 GMT, Canada will publish the index of housing prices in the primary market in February. At 12:30 GMT the United States will number of initial claims for unemployment insurance, the number of continuing claims for unemployment benefits, the import price index for March. At 23:50 GMT Japan will publish the index of activity in the service sector in February.
EUR/USD
Offers $1.3150, $1.3130/40
Bids $1.3040, $1.3020, $1.3005/990, $1.2980
GBP/USD
Offers $1.5470/80, $1.5450/60, $1.5420/25, $1.5390/400
Bids $1.5300, $1.5280, $1.5255/40, $1.5215/10, $1.5200-1.5195, $1.5160/50
AUD/USD
Offers $1.0650, $1.0635.40, $1.0600
Bids $1.0525/20, $1.0505/00, $1.0480/75, $1.0460/50
EUR/GBP
Offers stg0.8630/40, stg0.8610/15, stg0.8600/05, stg0.8580/85, stg0.8560/65
Bids stg0.8500, stg0.8485/80, stg0.8460/50, stg0.8410/00
EUR/JPY
Offers Y131.50, Y131.00, Y130.75, Y130.50
Bids Y130.00, Y129.75/70, Y129.50, Y129.25/20, Y129.00
USD/JPY
Offers Y100.50, Y100.25, Y100.00
Bids Y99.30, Y99.10/00, Y98.50
Australia posted a seasonally adjusted unemployment rate of 5.6 percent in March, the Australian Bureau of Statistics said on Thursday.
That missed forecasts for a rate of 5.4 percent, which would have been unchanged from the previous month.
The Australian economy lost 36,100 jobs in March - well shy of forecasts for a loss of 7,500 jobs, but a foreseeable correction after an astounding 71,500 jobs were added in February.
The participation rate was 65.1 percent - missing forecasts for 65.2 percent and down from 65.3 percent a month earlier.
Employment decreased 36,100 or 0.3 percent to 11,592,700. Full-time employment was down 7,400 to 8,111,300, while part-time employment plummeted 28,700 to 3,481,500.
Unemployment increased 25,900 (3.9 percent) to 686,900. The number of persons looking for full-time work increased 30,900 to 501,900 and the number of persons looking for part-time work decreased 5,000 to 185,000.
Aggregate monthly hours worked decreased 5.0 million hours to 1,627.3 million hours.
France's EU harmonized inflation weakened in March to the the lowest level in more than one-and-half years, but stayed slightly above economists' forecast, latest data showed Thursday.
Inflation as per the harmonized index of consumer prices (HICP), measured under the EU methodology, weakened to 1.1 percent in March from 1.2 percent in February, statistical office Insee said. The latest figure was the lowest since December 2009, when prices rose by 1 percent.
Sequentially, the HICP edged up 0.8 percent in March, slower than the 0.3 percent gain seen in February, data showed.
At the same time, the consumer price index increased 1 percent year-on-year during the month, as it did in the previous month. Economists had forecast the inflation to eased modestly to 0.9 percent.
Month-on-month, consumer prices rose 0.8 percent in March, slightly faster than the expected 0.7 percent gain. The rate of growth was unchanged from the previous month, data showed.
Italy sold E1.5bln floater CCTeu vs target E1.0bln-E1.5bln
- E1.5bln of June 2017 CCTeu; avg yield 2.74% (2.95%), cover 1.28 (1.50).
Italy sold E1.669bln 15-year BTP vs target E1.5bln-E2.0bln
- E1.669bln of 4.75% Sep 2028 BTP; avg yield 4.68% (4.90%), cover 1.32 (1.28).
Italy sold E4bln new 3-yr BTP vs target E3.0bln-E4.0bln
- E4.0bln of new 2.25% May 2016 BTP; avg yield 2.29% (2.48%), cover 1.4 (1.28).
Germany's
EU harmonized inflation stayed unchanged at 1.8 percent in March, as estimated
earlier, final data released by the Federal Statistical Office showed Thursday.
Inflation
as per the harmonized index of consumer prices (HICP) stayed unchanged at 1.8
percent in March. The figure matched preliminary estimates.
On a
monthly basis, the HICP moved up 0.4 percent in March, in line with the
preliminary estimates, the agency said.
At the same
time, the consumer price index increased 1.4 percent year-on-year in March, and
matched initial estimates, after growing 1.5 percent in February.
Month-on-month,
consumer prices edged up 0.5 percent in March, in line with the flash
estimates. The latest growth was slower rate than February's 0.6 percent, data
showed.
EUR/USD $1.2900, $1.2980, $1.3085, $1.3090, $1.3100, $1.3115, $1.3125, $1.3200
USD/JPY Y98.00, Y98.45, Y98.50, Y99.00, Y99.50, Y99.70, Y100.00, Y100.20
GBP/USD $1.5200, $1.5300
EUR/CHF Chf1.2150, Chf1.2200, Chf1.2350
AUD/USD $1.0450, $1.0480, $1.0485, $1.0500, $1.0525, $1.0550
The yen fell against the dollar while still achieving the lowest level in almost four years, as the Bank of Japan has confirmed its commitment to promote the program, and some officials from the Fed pushed for the speedy completion of the program to buy bonds. Note that the Japanese currency briefly recovered early losses after the Bank of Japan Haruhiko Kuroda said that the bank has done enough at this point, suggesting a pause in the easing cycle. Kuroda also said that monetary policy can not be determined by the currency exchange rate, and its purpose is not the depreciation of the yen.
The cost of the Australian dollar rose again, helped by data from China. According to a report on the results of March trade deficit totaled 884 million, while according to the average forecast of economists was to be recorded a surplus of $ 15.15 billion Recall that in February, the trade surplus was $ 15.23 billion In addition, the data showed that exports rose in March by 10 per cent per annum, which was much less than forecast at 11.7 per cent increase. We also recall that in February, exports increased by 21.8 percent. On the other hand, imports rose last month to 14.1 percent per annum, ahead of forecast by 6 percent growth and offsetting much of the decline in the previous month, which was 15.2 percent.
The dollar rose against the euro, after the minutes of the Fed on March 19 and 20, suddenly released a few hours earlier than planned, showed that members of the FOMC continues to discuss the 85-billion program of QE, and then when it should turn . According to the report, almost all Fed officials want to maintain a bond purchasing program, at least until mid-2013. However, a consensus on what to do next, no, this, many members noted that if the outlook for the labor market improves, as expected, it may be necessary to cut the program later this year, and by year-end and stop. Representatives of the FOMC do not see significant changes in the economic outlook, although it should be noted that the meeting took place before the weak employment report for March.
01:00 Australia Consumer Inflation Expectation April +2.3% +2.2%
01:00 China New Loans March 620 890 1060
01:30 Australia Unemployment rate March +5.4% +5.4% +5.6%
01:30 Australia Changing the number of employed March 74.0 -6.7 -36.1
The yen rose versus 15 of 16 major counterparts as a technical indicator signaled the currency may pare its 6.6 percent loss against the dollar since the Bank of Japan expanded monetary easing on April 4. The 14-day relative strength index of the yen versus the dollar was at 28.3, below the 30 level that some traders use as a signal that a currency has fallen too far, too fast. Versus the euro, the yen’s RSI was at 29.5.
The Australian currency weakened versus the dollar and yen after the statistics bureau said the jobless rate rose to 5.6 percent and employers cut 36,100 jobs in March. Economists surveyed by Bloomberg News had predicted the jobless rate would remain unchanged at 5.4 percent.
The Canadian dollar strengthened against its U.S. counterpart for the third day as investors seek higher-yielding currencies of commodity-exporting nations. The loonie, as the currency is nicknamed, gained on speculation heightened demand from Japan for cross-border assets will result from a stimulus package announced last week by Bank of Japan Governor Haruhiko Kuroda.
EUR / USD: during the Asian session the pair fell to $ 1.3040.
GBP / USD: during the Asian session, the pair traded in the range of $ 1.5315-30.
USD / JPY: during the Asian session the pair fell Y99.35.
Thursday's calendar gets underway at 0600GMT, with the release of the German March final HICP data. Also of note, the Eurogroup finance ministers are set to meet in Dublin. At 0630GMT, the Indonesian Bank Indonesia policy decisionis expected. Further final inflation data is expected at 0645GMT, with the release of the French March HICP numbers. At 0800GMT, the ECB published its latest monthly report, although it isn't expected to vary much from the press
release at the monthly press briefing. Also at 0800GMT, the IEA March monthly oil market report will cross the wires.(pare/closed(00:00 GMT +02:00)/change, %)
EUR/USD $1,3066 -0,11%
GBP/USD $1,5326 +0,04%
USD/CHF Chf0,9326 +0,01%
USD/JPY Y99,81 +0,64%
EUR/JPY Y130,43 +0,54%
GBP/JPY Y152,96 +0,69%
AUD/USD $1,0540 +0,50%
NZD/USD $0,8589 +0,78%
USD/CAD C$1,0141 -0,20%01:00 Australia Consumer Inflation Expectation April +2.3% +2.2%
01:30 Australia Unemployment rate March +5.4% +5.4% +5.6%
01:30 Australia Changing the number of employed March 74.0 -6.7 -36.1
04:00 China New Loans March 620 890
05:30 France CPI, m/m March +0.3% +0.7%
05:30 France CPI, y/y March +1.0% +1.0%
06:00 Germany CPI, m/m (Finally) March +0.5% +0.5%
06:00 Germany CPI, y/y (Finally) March +1.4% +1.4%
08:00 Eurozone ECB Monthly Report April
12:30 Canada New Housing Price Index February +0.1% +0.3%
12:30 U.S. Initial Jobless Claims April 385 362
12:30 U.S. FOMC Member James Bullard Speaks April
12:30 U.S. Import Price Index March +1.1% -0.4%
13:00 United Kingdom MPC Member Tucker Speaks April
22:45 New Zealand Food Prices Index, m/m March -0.3%
22:45 New Zealand Food Prices Index, y/y March -0.1%
23:50 Japan Tertiary Industry Index February -1.1% +0.8%