• European session: the euro fell

Market news

26 April 2012

European session: the euro fell

Data:
08:30   United Kingdom                   BBA Mortgage Approvals   March  33.1 34.3 31.8
09:00   Eurozone                  Business climate indicator     April -0.30   -0.30   -0.52
09:00   Eurozone                  Industrial confidence   April -7.2 -7.0 -9.0
10:00   United Kingdom                   CBI retail sales volume balance        April 0       -3     -6
12:00   Germany                   CPI, m/m (preliminary)        April +0.4% +0.1% +0.2%
12:00   Germany                   CPI, y/y (preliminary)  April +2.3% +2.0% +2.2%
12:30   U.S.              Initial Jobless Claims   21.04.2012   386   378   388

In early European session, the euro rose to a three-week high against the dollar in the wake of Bernanke's comments, published on Wednesday night, according to which the central bank is still willing to use its balance sheet to stimulate the world's largest economy, if the labor market weakens or inflation expectations will fall below the target level . However, a few hours later, the euro retreated against the dollar under pressure from weak data on the sentiment index in the business community and business optimism in the industry, the eurozone, which were lower than projected. The negative sentiment intensified after a six-month bill yield increase of Italy. Today, the Italian government posted the bond with a maturity of October 31 this year at 8.5 billion euros, as planned. Yield securities increased to 1.77% from 1.12% recorded in the previous auction of similar securities, held a month earlier. Note that the demand exceeded supply by 1.7 times. Also, the fall of the euro coincided with the data on the growth of inflation in Germany.
The pound fell against the dollar after the index of retail sales according to the Confederation of British Industry was worse than expected, falling to -6 points vs 0 points in the previous month.
Demonstrates the growth of the Japanese yen before the meeting of the Bank of Japan, dedicated to monetary policy. Today the Minister of National Strategy of Japan said that the Bank of Japan should consider various options for action, including ways to purchase financial assets. Since the yen is undesirable sharp movements, and the strong yen affects the attempts of companies to support the production activity.
The pressure exerted on the dollar of an increase in applications for unemployment benefits. Thus, the number of initial applications for unemployment benefits last week reached 388 thousand, 375 thousand expected.

EUR / USD: steam updated daily minimum in the region, dropping below $ 1.3200 after the release of unemployment data was restored in the area of ​​$ 1.3220.


GBP / USD: the pair fell to $ 1.6165. Later the course was restored to the area of ​​$ 1.6190.


USD / JPY: the pair of shows at least Y80, 65.


 At 14:00 GMT the U.S. there are data on changes in the volume of outstanding transactions for the sale of housing in March. Finish the day at 23:50 GMT Japan data on changes in retail sales for March.

 

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