| CATEGORY: FX |
Thu 16 Aug 2012
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Glossary
Cable: Sterling/US dollar
Currency codes: EUR - euro; USD - US dollar; GBP - sterling; JPY - Japanese yen; CHF - Swiss franc; NOK - Norwegian kroner; SEK - Swedish kroner; CAD - Canadian dollar (the loonie); AUD - Australian dollar; NZD - New Zealand dollar
LONDON (SHARECAST) - This is a foreign exchange (FOREX) market preview.
Main headlines:
Foreign Investment in China Declines as Wen Sees Room for Easing - Bloomberg
Bernanke Is Losing His Chance to Ease Before Election - CNBC
Spain Said to Accelerate EU Bank Bailout in Wake of ECB Collateral Limits - Bloomberg
Brazil unveils $66bn stimulus plan - FT
World Gold Demand Hits Lowest in Two Years - CNBC
Israel Would Strike Iran to Gain a Delay, Oren Says - Bloomberg
Americas wrap up:
Citi’s Chief Equity Strategist Sees U.S. Growth - CNBC
Industrial output grows at fastest pace since April - Reuters
Fed's Fisher says more policy easing won't help on jobs - Reuters
Muted inflation supports more Fed easing - Reuters
Home Starts in U.S. Probably Held Near Four-Year High as Market Stabilized - Bloomberg
Romney refuses to reveal tax cut targets - FT
Morgan Stanley Unit Fined Over Trader’s $1.3 Billion Bet - Bloomberg
Facebook Freeing 60% More Shares Seen Weighing on Stock - Bloomberg
S&P May Raise Colombia Credit Rating as Growth Buoys Revenue - Bloomberg
Asia-Pacific summary:
Sliding Investment in China Signals Confidence Waning - Bloomberg
Asian Currencies Rally After Wen’s China Monetary-Easing Comment - Bloomberg
Yen Drops Versus Major Peers as Stock Gains, Yield Gap Curb Haven Demand - Bloomberg
Samsung E-Mails Show Google’s Concern Devices Not Mimic Apple - Bloomberg
Jaguar Revival Cuts Tata Bond Risk More Than Ford - Bloomberg
European news:
Berlin maintains firm line on Greece - FT
Finland Trails Its Nordic Neighbors - WSJ
Eurozone key to dollar prospects - FT
Mixed Picture for Central European Economies - WSJ
Major Shift in UK Job Market Has Economists Puzzled - CNBC
Standard Chartered eyes joint deal after backing down in US - Reuters
Britain threatens to storm Ecuador embassy to get Assange - Reuters
FOREX action
EUR: The main euro crosses consolidate in the day where Eurozone inflation figures are going to be released. EUR-USD is close to 1.2270 while EUR-JPY trades in the vicinity of 97.215.
GBP: The sterling crosses go hand in hand with the euro trades. Monthly retail sales numbers are going to be closely monitored today. The cable is now close to 1.5645, while GBP-JPY trades a bit below 124. EUR-GBP edges up close to 0.7840.
CHF: The USD-CHF has mad its first attempt to break the 0.9800 resistance level. Meanwhile, EUR-CHF is stuck close to 1.2010.
Nordics: The NOK and the SEK move sideways versus the EUR and the USD. Both currencies have recently reached new highs against the euro due to safe-haven demand related to the Eurozone debt crisis.
USD & JPY: The yen looks weak against its main counterparts in a ‘risk off’ context. We’ll be paying close attention to US jobless and construction numbers. USD-JPY is now moving close to 79.25.
CAD, AUD & NZD: The three dollars ease against the dollar but they rise versus de yen. The aussie and the kiwi suffer from China’s FDI figures that point to foreign money leaving the country. New monetary stimuli are in the pipeline as Chinese prime minister suggests.
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