Forex: Wednesday's review

The euro fell against most of its peers after Portugal was forced to pay more at a debt auction than it has in the past, indicating concern the region is struggling to contain its sovereign-debt crisis.

Portugal sold 1 billion euros ($1.4 billion) of securities due September 2013. The bonds were issued at an average yield of 5.993 percent, the country’s debt management agency said. That compares with an average yield of 4.086 percent at a previous auction of the same-maturity debt on Sept. 8. The auction attracted bids for 1.6 times the amount offered, compared with a bid-to-cover ratio of 1.9 in September.
The 17-nation currency rose earlier on speculation the European Central Bank asked for prices to purchase the securities of the region’s most indebted nations. The central bank inquired about prices for Irish bonds and didn’t buy, according to two traders with knowledge of the matter.
The Swiss franc rose against all of its 16 most-traded counterparts as crude oil prices increased on concern turmoil in North Africa and the Mideast will disrupt supply, encouraging investors to seek refuge.
Crude oil gained 0.3 percent to $105.33 a barrel in New York. It reached a two and a half year high of $106.95 earlier this week.
Currencies of commodity-exporting countries strengthened against the dollar as raw materials rose for an eight day in nine.

EUR/USD: the pair bargained within the limits of $1,3850-$ 1,3940.

GBP/USD: on results of yesterday's session the pair become stronger in around $1,6200.

USD/USD: the pair bargained within the limits of Y82,55-Y82,95.

At 0900GMT, the ECB issues the March monthly report, the editorial of which is usually much of a repeat of the opening statement from the latest ECB press conference.

UK data starts at 0930GMT with industrial production data, which is expected to rise 0.4% m/m, 4.2% y/y and manufacturing output, which is expected to rise by 0.8% m/m, 6.4% y/y. The main focus of the session

could be on the Bank of England MPC announcement with rates expected to remain on hold at 0.5% and with the asset purchase program also unchanged. Recent comments suggest that the majority of the MPC would like to see firm signs that the Q4 growth shock was an aberration before sanctioning a rate rise. If that more or less reassures and inflation stays where it is - or higher - then the MPC looks set to find a
majority for a move in May. Recent CIPS PMIs did not provide much comfort on the growth front, showing an overall 'flattish' picture although cost and price pressures remain strong.

Latest news

13.12.2024

NZD/USD Price Analysis: Pair edges lower to 0.5760 as selling pressure mounts

13.12.2024

Australian Dollar struggles under pressure as Fed policy shifts

13.12.2024

EUR/USD Price Forecast: Hovers near 1.0500 post-ECB’s rate cut

13.12.2024

Mexican Peso rebounds amid prospects of Fed rate cut

13.12.2024

US Dollar holds its ground on quiet Friday

13.12.2024

Dow Jones Industrial Average extends losses, sheds another 100 points

13.12.2024

Gold dips amid rising US yields ahead of next week’s FOMC meeting

13.12.2024

EUR/USD Price Analysis: Pair recovers slightly, still below 20-day SMA

Support

Personal area

Trading
- Account types
- Market
- MetaTrader 4/5
Promotions
- Promotions
Investments
- Synchronous Trading
  - Rating
  - About Service
  - How it Works
  - FAQ
Analytics
- News and Tools
- Market analysis
  - Market Opinions
  - Technical Analysis
TeleTrade
- About brand
- Сooperation
- Knowlege Base
  - Education

Personal area

Forex Demo Account

Start Bonus 100%

Synchronous Trading

Our Advantages

Economic Calendar

This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).

The information on this website is for informational purposes only and does not constitute any investment advice.

The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.

AML Website Summary

Risk Disclosure

Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.

Privacy Policy

Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.

Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.

Bank
transfers