Market news
21.11.2012, 13:15

European session: the euro rebounded

 

 

09:30 United Kingdom Bank of England Minutes -

09:30 United Kingdom PSNB, bln October 9.9 4.1 6.5

 

The yen weakened beyond 82.40 per dollar for the first time since April after Japan’s exports decreased for a fifth straight month, undermining demand for the nation’s assets.

The Japanese currency fell to a six-month low versus the euro amid speculation the winner of next month’s election will pressure the central bank to boost stimulus.

The yen has fallen against all but one of its major peers this month as Shinzo Abe, leader of the Liberal Democratic Party and favorite to topple Japan’s prime minister in Dec. 16 elections, advocated more aggressive measures to weaken it.

Europe’s shared currency fell from the highest level in almost two weeks versus the greenback after European finance ministers failed to agree on a debt-reduction package for Greece.

Europe’s shared currency snapped two days of gains against the greenback after finance ministers said a further meeting on Greece had been arranged for Nov. 26 and an aid payment for the nation that’s been held up since June remains frozen.

German Chancellor Angela Merkel told lawmakers this morning that there’s a chance for a deal on Greek aid at next week’s meeting. Schaeuble said the issue of the nation’s funding gap was solvable and possible solutions include reducing interest payments on its initial bailout loans, suspending payouts through 2020 on its second rescue package, or having the European Central Bank buy 9 billion euros of the country’s Treasury bills, according to four people who attended the briefing.

The Dollar Index approached an 11-week high amid stronger demand for the safest assets.

The pound rose after publication of the minutes of the Bank of England and the data on state finances Britain. As shown by the protocol of the Bank of England, voted 9-0 to leave rates at 0.5%, and 1.8 for that leave unchanged QE. Only Miles spoke in favor of expanding the program by £ 25 billion in November.

EUR / USD: during the European session, the pair set a low at $ 1.2735 and then rose to $ 1.2816

GBP / USD: during the European session, the pair set a high at $ 1.5941

USD / JPY: during the European session, the pair rose to a high of Y82.44

 

In the U.S. at 13:30 GMT will the number of initial claims for unemployment insurance, the number of repeated applications for unemployment benefits, at 14:00 GMT - the index of business activity in the manufacturing sector in November, in the 14:55 GMT - an indicator of consumer confidence from University of Michigan in November, in the 15:30 GMT - data on stocks of crude oil from the Department of Energy. At 16:35 GMT a speech the deputy head of the Bank of Canada, Timothy Lane. At 17:00 GMT a speech board member of the Swiss National Bank Fritz Zurbrugg.


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