• European session: the dollar has risen sharply

Market news

18 July 2012

European session: the dollar has risen sharply

Data

08:30 United Kingdom Bank of England Minutes -

08:30 United Kingdom Claimant Count Rate June 4.9% 4.9% 4.9%

08:30 United Kingdom Claimant count June 8.1 7.4 6.9

08:30 United Kingdom ILO Unemployment Rate May 8.2% 8.2% 8.1%

08:30 United Kingdom Average Earnings, 3m/y May +1.4% +1.4% +1.5%

08:30 United Kingdom Average earnings ex bonuses, 3 m/y May +1.8% +1.9% +1.8%

09:00 Switzerland Credit Suisse ZEW Survey (Expectations) July -43.4 -42.5


During the session, the euro declined after German Chancellor Angela Merkel said that "the European project" is under threat, and if the policy will work harder, fueling interest in solving the debt crisis in the region, it will remain impossible.

The pound fell against the dollar for the first four days after the Bank of England said that there is a possibility of future rate reductions. However, nine members of the Monetary Policy Committee decided unanimously to keep its key interest rate at a record low of 0.5% this month. Seven of the nine members of the Committee on Monetary Policy Bank of England voted in favor of additional incentives at the meeting. Governor of the Bank of England Governor Mervyn King among the other seven members voted to increase asset purchase program by 50 billion pounds to 375 billion pounds, as there is reason to inject more cash into the UK economy and stimulate lending to the slowdown in inflation.

The yen and dollar rose against most currencies in anticipation of speech Federal Reserve Chairman Ben Bernanke, who will speak today in Congress.


EUR/USD: during the European session, the pair fell to 1.2215 level, after which followed a small adjustment

GBP/USD: a pair of rapidly declining during the current session, reaching a minimum value of this prospect at the level of 1.5580

USD/JPY: the pair is trading within a narrow range near the minimum values ​​of the day


At 12:30 GMT the U.S. will report the volume of building permits issued in June, the number of bookmarks of new foundations for June. At 14:30 GMT the U.S. will present data on stocks of crude oil from the Ministry of Energy in July. At 18:00 GMT will be published in the U.S. Federal Reserve economic survey by region "Beige Book" in July.

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