• European session: the euro rose against the dollar

Market news

17 September 2013

European session: the euro rose against the dollar

Data

01:30 Australia RBA Meeting's Minutes

01:30 Australia New Motor Vehicle Sales (MoM) August -3.6% Revised From -3.5% +1.8% +0.8%

01:30 Australia New Motor Vehicle Sales (YoY) August +3.0% +0.2%

02:00 China Leading Index August +1.4% +0.7%

08:00 Eurozone Current account, adjusted, bln August 19.8 Revised From 16.9 18.3 16.9

08:30 United Kingdom Retail Price Index, m/m August 0.0% +0.4% +0.5%

08:30 United Kingdom Retail prices, Y/Y August +3.1% +3.2% +3.3%

08:30 United Kingdom Producer Price Index - Input (MoM) August +1.1% +0.3% -0.2%

08:30 United Kingdom Producer Price Index - Input (YoY) August +5.0% +3.0% +2.8%

08:30 United Kingdom Producer Price Index - Output (MoM) August +0.2% +0.2% +0.1%

08:30 United Kingdom Producer Price Index - Output (YoY) August +2.1% +1.8% +1.6%

08:30 United Kingdom HICP, m/m August 0.0% +0.5% +0.4%

08:30 United Kingdom HICP, Y/Y August +2.8% +2.7% +2.7%

08:30 United Kingdom HICP ex EFAT, Y/Y August +2.0% +2.1% +2.0%

09:00 Eurozone Trade Balance s.a. July 13.5 Revised From 14.9 15.3 11.1

09:00 Eurozone ZEW Economic Sentiment September 44.0 47.2 58.6

09:00 Germany ZEW Survey - Economic Sentiment September 42.0 45.3 49.6


The euro rose against the dollar, which , first of all , due to the anticipation of the announcement of the outcome of meetings of the Open Market Committee of the Federal Reserve , which begins today and will end tomorrow . According to the median forecast of economists , the majority of the voting committee may decide to reduce the amount of monthly purchases of bonds to $ 75 billion to $ 85 billion

Meanwhile, we add that did not prevent the growth of the European currency submitted data for the euro area , which were worse than expected .

The European Central Bank said that by the end of July profit Eurozone current account decreased again , registering with the fourth monthly decline in a row, which was due mainly to a sharp drop in income . According to the report , the seasonally adjusted balance of payments surplus fell in July to the level of 16.9 billion euros, compared with the upwardly revised figure for the previous month at 19.8 billion euros. Add that to the experts according to the average surplus would rise to the level of 18.3 billion euros from 16.9 billion , which was originally reported last month .

In addition, the Statistical Office Eurostat reported that the trade surplus of the euro zone unexpectedly , and at the same time is drastically reduced in the month of July , which was associated with a marked drop in exports (for the third time in four months ) , and almost the same volume of imports . According to the report , the seasonally adjusted trade surplus fell in July to a level of 11.1 billion euros, compared with a revised downward from the previous month at 13.5 billion euros. Add that to the experts according to the average surplus in trade in goods had increased to 15.3 billion from 14.9 billion , which was originally reported.

In addition , the data showed that exports in July totaled 155.9 billion billion, down 1.6% from June , while imports reached 144.8 billion euros, which is 0.1 % less than in the previous month.

The pound rose slightly against the dollar, although it has lost some of the previously captured positions . Note that this trend was accompanied by a release of weak data on Britain. It is learned from the Office for National Statistics , at the end of last month, the growth of annual inflation slowed again , registering the second monthly decline in a row, which was primarily due to a slower increase in transportation costs.

According to the report , in the month of August consumer price index rose by 2.7 % per annum , compared with an increase of 2.8 % in July. Add that final reading fully confirmed the experts' forecasts . In addition, it was reported that on a monthly basis the consumer price index rose 0.4 % , after the previous month, it remained unchanged. Many experts expect that the value of this index will rise by 0.5 %.

Meanwhile, core inflation, which excludes the cost of energy , food, alcoholic beverages and tobacco products remained unchanged in August - at the level of 2 % , confounding economists' expectations for a moderate increase to 2.1 %.

Meanwhile, another report from the Office for National Statistics showed that producer prices inflation slowed markedly in August , indicating a weakening of inflationary pressures.

The data showed that the index of producer prices rose in August by 1.6 % per annum , compared with an increase of 2.1% a month earlier. Experts estimate the growth of this index was up 1.8%. In monthly terms, wholesale prices rose by 0.1 %, which followed a 0.2 percent increase in July. It was assumed that the growth will be 0.2 %. As for the input price inflation , it declined in August to 2.8 % per year from 5.1 % last month , and lower than forecast at 3% . On a monthly basis , raw materials prices fell 0.2 % , registering the first decline in three months .


EUR / USD: during the European session, the pair rose to $ 1.3367

GBP / USD: during the European session, the pair rose to $ 1.5936 , and then fell to $ 1.5884

USD / JPY: during the European session, the pair traded in a narrow range of Y99.05-Y99.37


At 12:30 GMT Canada will announce the change of volume of manufacturing sales in July. Also at this time, the U.S. consumer price index will be released and the core consumer price index for August. At 13:00 GMT the United States will be known on net purchases of long-term U.S. securities by foreign investors and the total net amount of purchases of U.S. securities by foreign investors in July. At 14:00 GMT the U.S. will release the housing market index from the NAHB for September. At 22:45 GMT New Zealand will report on the balance of the current account of balance of payments and the ratio of current account deficit to GDP for the 2nd quarter .


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