Client support: Phone: (+357) 22314160

FX & CFD trading involves significant risk


Show news:
  • All news
  • Currencies
  • Stocks
  • Commodities

16.02.2011 13:09

EU session review: Yen weakens as global recovery signs reduce demand for safer assets

Data released
09:30     UK     Claimant count (January)    2400    -2000    -3400 (-4100)
09:30     UK     Claimant count rate (January)    4.5%    4.5%    4.5%
09:30     UK     Average earnings (3 months to December) Y/Y    1.8%    2.0%    2.1%
09:30     UK     Average earnings ex bonuses (3 months to December) Y/Y    2.3%    -    2.3%
09:30     UK     ILO Jobless rate (December)    7.9%    7.9%    7.9%
10:30     UK     BoE quarterly inflation report             

The yen reached a two-week low versus the euro as stocks rose on optimism that the global recovery is gaining momentum.
“Confidence in the global economy is certainly improving, and that’s resulting in safe-haven currencies such as the yen and dollar weakening,” said Lee Hardman, a foreign-exchange strategist at Bank of Tokyo-Mitsubishi UFJ Ltd.
The pound slid after Bank of England Governor Mervyn King said inflation will peak this year and ease in 2012.
The Bank of England today said its central forecast is for inflation to peak at about 4.4% this year before easing to the 2% goal by the middle of 2012, and undershoot the target within two years.
“The best collective judgment of the committee is that the chances of inflation being above or below the target are broadly equal,” King told reporters today. “The recovery is unlikely to be smooth.”
Sterling is still up 2.8% against the dollar this year as accelerating inflation has spurred speculation policy makers will be forced to raise borrowing costs.
A U.K. report yesterday showed consumer prices rose an annual 4% last month, the fastest since November 2008 and twice the central bank’s 2% target. Data today showed British unemployment claims unexpectedly rose in January.
Australia’s dollar pared its gains after Moody’s Investors Service said it may cut credit ratings on the nation’s biggest banks, including Westpac Banking Corp. and National Australia Bank Ltd.
An Australian index of leading indicators increased in December as the economy expanded before flooding struck the nation’s northeast. The index rose 0.8% from a month earlier. The index grew at an annual rate of 4.2% in December, accelerating from 3.6% in November.

EUR/USD printed session lows on $1.3570, but it failed to hold higher. As a result rate fell to support at $1.3500.

GBP/USD sharply fell down from $1.6186 to the lows around $1.6146 after BoE inflation report. Later rate recovered to $1.6176, but sales dragged the pound down to earlier lows.

USD/JPY holds within the narrow range, limited by Y83.60/83.

The main US releases are at 1330GMT, with the Producer price data and housing start numbers.
Producer prices are expected to jump 0.8% in January. The core PPI is expected to rise 0.2%.

January Industrial production data is expected at 1415GMT.  It are expected to rise 0.5% in January. Capacity utilization is forecast to rise to 76.3%.
Treasury Secretary Tim Geithner testifies about the Budget proposal on the Hill Weds. At 1500GMT, he is before the Senate Finance Committee, while at 1900GMT, he appears before the House Budget Committee.
At 1530GMT, the EIA Crude Oil Stocks data is released.
Also on traders radar screens will be the 1900GMT release of the Fed's January 26 FOMC meeting minutes.

16.02.2011 12:56

EUR/USD weakens

Market Focus

  • The Bank of Japan decided by a 7-2 majority vote to hold the interest rate at -0.10%
  • Earnings Season in U.S.: Major Reports of the Week
  • U.S. commercial crude oil inventories decreased by 4.7 million barrels from the previous week
  • Australian unemployment rate stable at 5.6% in June
July 2017
  • 2017
  • 2016
  • 2015
  • 2014
  • 2013
  • 2012
  • 2011
  • 2010
  • 2009
  • 2008
  • 2007
  • 2006
  • 2005
  • 2004
  • 2003
  • 2002


All posted material is a marketing communication solely for informational purposes and reliance on this may lead to loss. Past performance is not a reliable indicator of future results. Please read our full disclaimer.

To maximize our visitors browsing experience TeleTrade uses cookies in our web services. By continuing to browse this site you agree to our use of cookies. If you disagree, you may change your browser settings at any time. Read more

  • © 2011-2017 TeleTrade-DJ International Consulting Ltd

    TeleTrade-DJ International Consulting Ltd is registered as a Cyprus Investment Firm (CIF) under registration number HE272810 and licensed by the Cyprus Securities and Exchange Commission (CySEC) under license number 158/11.

    The company operates in accordance with Markets in Financial Instruments Directive (MiFID).

  • The information on this website is for informational purposes only. All the services and information provided have been obtained from sources deemed to be reliable. TeleTrade-DJ International Consulting Ltd ("TeleTrade") and/or any third-party information providers provide the services and information without warranty of any kind. By using this information and services you agree that under no circumstances shall TeleTrade have any liability to any person or entity for any loss or damage in whole or part caused by reliance on such information and services.

  • TeleTrade cooperates with SafeCharge Limited, which is an electronic money institution authorized and regulated by the Central Bank of Cyprus and is a principal member of MasterCard Europe and Visa Europe. We also cooperate with Moneybookers and Neteller, which offer electronic e-wallet services authorized and regulated by the Financial Conduct Authority.

    Please read our full Terms of Use.

  • To maximize our visitors browsing experience TeleTrade uses cookies in our web services. By continuing to browse this site you agree to our use of cookies. If you disagree, you may change your browser settings at any time. Read more

    TeleTrade-DJ International Consulting Ltd currently does not provide its services to residents or nationals of the USA, and also doesn't provide retail Forex and CFD accounts to residents or nationals of Belgium.

Connect with Us
Share on
social networks
Request a callback
Top Page