• European session: the euro declined

Market news

15 February 2013

European session: the euro declined

09:15 Eurozone ECB President Mario Draghi Speaks -

09:30 United Kingdom Retail Sales (MoM) January -0.3% +0.5% -0.6%

09:30 United Kingdom Retail Sales (YoY) January +0.3% +0.9% -0.6%

10:00 Eurozone Trade Balance s.a. December 10.5 10.7 12.0

The euro fell against the dollar as investors wait for news from the G20 summit. EU representative Ren and member of the Governing Council of the ECB Asmussen to actively focus on reforms at the expense of monetary and fiscal stimulus. ECB Weidmann opposed the further lowering of interest rates.

In the Project that started in Moscow two-day G20 summit ECB President Mario Draghi said that the euro is not overvalued currency, and its long-term average rate corresponds to the nominal and real terms.

The single currency reacted negatively to the data on the trade balance of the euro area. According to the published data of the official statistics agency eurozone Eurostat, the December trade surplus in the euro area narrowed to € 11.7 billion from € 13 billion in the previous month and the forecast € 13.1 billion Exports from the euro zone in December fell by 1.8% compared to November after rising 0.6% the previous month. Figures are adjusted for seasonal variations and suggest that companies are experiencing difficulties in the eurozone implement their products in other markets, as the global economy slows.

The British pound fell against the dollar after the release of retail sales data, which showed the expected growth slowdown. In January, the annual retail sales in the UK fell by 0.6% against 0.1% the previous month, analysts were expecting growth of 0.8%. In a monthly comparison index fell by 0.6% vs. -0.3% and +0.4% forecast.


EUR / USD: during the European session the pair fell to the low of $ 1.3305

GBP / USD: during the European session the pair fell to the low of $ 1.5460

USD / JPY: during the European session the pair rose to a maximum of Y93.27


In the U.S. at 13:30 GMT will Empire Manufacturing production index for February, at 14:00 GMT - net purchases of long-term U.S. securities by foreign investors, the total net purchases of U.S. securities by foreign investors in December, in the 14:15 GMT - factor capacity utilization, the change in industrial production for January, to 14:55 GMT - consumer sentiment index from the University of Michigan in February.


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