Forex-news from InstaForex

[IFXYana]

Euro Drops To More Than 2-week Low Of 0.8724 Against Pound

Euro Declines To More Than 3-week Low Of 114.33 Versus Yen

Euro Slides To Fresh 3-week Low Of 1.4115 Against U.S. Dollar

Euro Falls To 2-day Low Of 1.2066 Against Franc

Dollar Index Hits Three-Week High As Euro Slides Sharply, on Greece
Debt Owes

Euro/dollar Hits Three-Week Low Below $1.4156

Euro Dips To Fresh 3-week Low Of 1.3845 Against Canadian Dollar



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[IFX_Kseniya]

Euro Slides Against Most Majors


The euro fell against most major counterparts in the Asian session on Friday.
The euro is now trading at 1.2022 against the franc and 1.4145 against the greenback, compared to yesterday's close of 1.2040 and 1.4205, respectively. If the euro weakens further, it may find target at 1.20 against the franc and 1.41 against the greenback.
Against the pound and the yen, the euro is now quoted at 0.8778 and 114.06, respectively. The next downside target levels for the euro are seen at 0.8793 against the pound and 113.00 versus the yen. At yesterday's close, the euro was worth 0.875 against the pound and 114.56 versus the yen.
Japanese total cash earnings decreased for the second straight month in April, final data published by the Ministry of Health, Labor and Welfare showed. Total labor cash earnings fell by 1.4 percent year-on-year in April.
The European currency also fell to as low as 1.3914 against the loonie with 1.38 seen as the next downside target level. The euro-loonie pair closed Thursday's trading at 1.3941.
Looking ahead to the European session, Eurozone trade data for April is due for release.
Canada's wholesale sales data for April, preliminary figures of university of Michigan confidence for June from U.S are expected in the New York session.

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[IFXYana]

European Economics Preview: Eurozone Current Account Data Due


Current account figures from Eurozone and producer prices from Germany are the major statistical reports due on Monday.
At 2.00 am ET, the Federal Statistical Office is slated to release German producer prices for May. Producer price annual inflation is seen at 6.3 percent, down slightly from 6.4 percent in April.
The European Central Bank is slated to issue current account figures for April at 4.00 am ET. The Eurozone current account showed a deficit of EUR 4.7 billion in March.
In the meantime, Italy's industrial order data is due. Industrial orders are forecast to fall 4 percent month-on-month in April, after rising 8.1 percent in March.
Eurozone labor cost figures are due at 5.00 am ET. Economists expect labor costs to rise 1.9 percent annually, following last month's 1.6 percent increase.

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[IFXYana]

European Economics Preview: U.K. PSNB, German ZEW Survey Data Due


Public sector finances from the U.K. and ZEW economic confidence survey results from Germany are due on Tuesday.
Statistics Finland is set to release unemployment figures for May. Economists expect the jobless rate to rise to 9.5 percent from 8.2 percent in April.
At 3.00 am ET, the Swiss National Bank is scheduled to issue money supply data for May. Swiss money supply increased 6.9 percent year-on-year in April.
At 4.30 am ET, the Office for National Statistics is slated to release U.K. public sector finance figures for May. Public sector net borrowing is seen at GP 16.5 billion compared to GBP 7.7 billion in April.
German ZEW economic sentiment survey results are due at 5.00 am ET. The economic sentiment indicator is expected to show a negative reading of 3 after logging positive 3.1 points in May.
Half an hour later, Swiss KOF institute is set to publish June Economic Forecast.
At 6.00 am ET, U.K. Industrial Trends survey results are due from the Confederation of British Industry. The order book balance is seen at negative 5 for June compared to minus 2 in May.

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[IFXYana]

European Economics Preview: BoE Minutes Due


The minutes of the last Monetary Policy Committee meeting of the Bank of England and industrial new orders from Eurozone are due on Wednesday.
At 2.45 am ET, the French statistical office Insee is slated to release business confidence survey results. Business sentiment is forecast to fall to 106 in June from 107 in May.
The National Institute of Economic Research is scheduled to release Sweden's economic tendency survey data at 3.15 am ET. Economists expect the economic tendency index to fall to 110.5 from 112.4 in May. The institute is also set to publish Economic Outlook.
At 3.30 am ET, Dutch consumer confidence and Sweden's SCB unemployment figures are due. Dutch consumer sentiment is seen at minus 12, down from minus 10 in May. Sweden's jobless rate is forecast to fall to 7.7 percent in May from 7.9 percent in April.
Half an hour later, unemployment figures from Norway and Poland are due. Economists expect Poland's jobless rate to drop to 12.1 percent in May from 12.6 percent in April.
At 4.30 am ET, the Bank of England is scheduled to issue the minutes of the last MPC meeting held on June 8 and 9. The central bank had retained its record low interest rate and GBP 200 billion asset purchase plan.
At 5.00 am ET, Eurozone industrial new orders data is due. Economists expect industrial orders to rise 1 percent month-on-month in April after falling 1.6 percent in March.
The European Commission is set to publish Quarterly Report on euro area at 6.00 am ET.

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[IFXYana]

Eurodollar Futures steady After fED Cuts Economic Forecasts


Eurodollar futures contracts expiring in March 2012traded steady at 99.51, implying a dollar LIBOR of 0.49 pctcompared with 0.24550 pct currently
Dollar funding in Singapore edged higher from a 16-month low hit onWednesday
China, short-dated IRS rates extended rise, one-year IRS rates were at 3.95 pct
China benchmark 7-day govt bond repo ratejumped to 9 pctprompting the c.bank to pump in funds to alleviate the shortage

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[IFXYana]

U.s. Corn Extends Gains for 2nd Day, Soy Rebounds on Greece News

Сhicago Board of Trade July corn gained 1.2 pct to$6.88-3/4 a bushel by 0249 GMT
July wheat slid 0.4pct to $6.46-1/2 a bushel
CBOT soybeans for July deliveryrose 0.7 pct to $13.26-3/4 a bushel
Greece's deal with international lendersfor a new austerity plansupports commodities
Market remained underpressure from improved weather conditions in Europe, raisinghopes of ample supplies

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[IFXYana]

Yen Trades At Fresh Multi-year Low Against Franc

The yen has been declining against the European majors ahead of the European session on Monday. At present, the yen is trading at a fresh multi-year low of 96.63 against the franc.
Against the euro and the pound, the yen is now worth 114.34 and 128.97, respectively.

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[IFXYana]

Swiss UBS Consumption Indicator Rises Significantly In May

Switzerland's consumption indicator rose significantly in May, driven by an increase in new car registrations, the UBS bank said Tuesday.
The bank's consumption indicator rose 0.34 points to 1.91, its highest level since August last year. This follows a 0.1 point decline in April.
The continued rise in new car registrations as well as growth in retail sector activity supported the economy. New car registrations rose 20.2 percent compared to the same month last year.
UBS Wealth Management Research sees private consumption as a key driver of the Swiss economy. Consumption is supported by low interest rates, consistently high immigration and falling unemployment. UBS expects consumer spending to play a major role in growth again this year.
The UBS consumption indicator is an index designed to provide concrete conclusions regarding the annual growth rate of private consumption.

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[IFXYana]

European Economics Preview: Eurozone Economic Sentiment Due

Economic sentiment survey results from Eurozone, mortgage approvals from the U.K. and quarterly national accounts from France are the major reports due on Wednesday.
At 1.30 am ET, French final GDP figures from the statistical office Insee is due. The economy expanded 1 percent sequentially in the first quarter, according to preliminary estimate.
Spanish retail sales data is due at 3.00 am ET. Spanish retail sales had declined 2 percent annually in April. At the same time, Hungary's jobless data is also due. Economists expect the jobless rate to fall to 11.2 percent in May.
The Bank of England is scheduled to release mortgage approvals data at 4.30 am ET. Economists expect mortgage approvals to increase to 46,300 in May from 45,200 in April.
Half an hour later, Eurozone economic sentiment survey results are due. Economic sentiment is seen at 105 in June, down from 105.5 in May.
At 5.30 am ET, Swiss KOF leading indicator is due. The leading index is expected to fall slightly to 2.23 in June from 2.3 in May.


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