• American focus : the dollar rose against the yen significantly

Market news

10 September 2013

American focus : the dollar rose against the yen significantly

The dollar fell against the euro, losing the all previously earned a position on the background of the fact that the U.S. secretary of state John Kerry said the United States will study the offer from Russia to Syria. Note that Russian diplomats over the past day could seriously change the approach to the Syrian issue. Foreign Minister Sergei Lavrov said today that the country will soon submit a concrete plan for the transfer of chemical weapons in Syria under international control. On the eve of Lavrov caught on the word of his colleague, the Secretary of State, John Kerry , who offered to Damascus to voluntarily surrender all chemical weapons and thereby avoid military action. Unexpectedly for many peace initiative has gained quite real. The Russian version is supported by many western countries. And, most importantly , Syria has given its consent . Voting in the U.S. Senate by a military scenario postponed indefinitely.

Meanwhile , we add that the partial pressure on the dollar had previously submitted a report which showed that the number of jobs in the U.S. fell by 180 thousand

As it became known, in July, the number of vacancies in the private sector in the U.S. has decreased by 180 thousand to 3.69 million compared with the revised 3.87 million the previous month, the Labor Department said in Washington. The pace of hiring increased .

Compared to the same period of the previous year had risen by 5.4 % , as private jobs increased by 5.3 % to 3.28 million , while government jobs have increased to 405 thousand from 380 thousand at about 11,510 million unemployed in July , there were about 3.1 potential applicants per job opening . In July 2012 , there were about 12.7 million unemployed and about 3.6 potential applicants per vacancy .

The yen depreciated significantly against the dollar, which in the first place was due to the publication of the minutes of the last meeting of the Bank of Japan , in which the management has stated its firm intention to continue easing monetary policy. In addition , reports have shown that the participants of the Board of the Bank of Japan monetary policy believe that the Japanese economy is beginning to show a moderate recovery .

Note that at the meeting of the Bank of Japan decided to leave its monetary easing program unchanged , as the economy began to recover moderately , while inflation data came out positive. We also add that the Bank of Japan kept its plan to increase the monetary base at an annual rate of 60-70 trillion . yen , keeping interest rates at a record low of 0.10 percent. Recall that the massive monetary easing program was launched in April, shortly after Haruhiko Kuroda led as head of the Bank of Japan. This program, one of the " three arrows ", invented by Prime Minister Shinzo Abe , and is aimed at ending the 15- year deflation in the economy.

The Australian dollar rose to a six-week high against the U.S. counterpart amid improved business confidence after the election. According to the National Australia Bank, business confidence in Australia in August rose to its highest level since May 2011 against the expected victory of the coalition of the Liberal and Conservative parties in the elections .

On Sunday, the coalition won a landslide victory over the government of the liberal minority, which advocated for new taxes on the profits of the mining industry and on carbon emissions. Elected Prime Minister Tony Abbott has promised to cut both taxes and invest in infrastructure.

As shown by National Australia Bank, the index of business confidence in Australia in August rose to 6 , the highest level in more than two years. In July, the index stood at -3 . The index of business conditions rose slightly , from -7 to -6 .

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