• American focus : the British pound has appreciated sharply against the dollar significantly

Market news

25 September 2013

American focus : the British pound has appreciated sharply against the dollar significantly

The dollar declined significantly against the euro, which was associated with the release of data on Germany and the United States. It should be noted that consumer confidence in Germany rose to the highest post-crisis levels in October. German consumers have joined the companies and investors who have previously demonstrated a growing optimism about the prospects for the euro zone 's largest economy .

According to the report, the GfK consumer climate index rose to 7.1 in October , while the index for September was also revised up by 0.1 points to 7.0. October value was the highest level since June 2007 . The result was in line with analysts' forecasts .

As for the U.S. data , they showed that orders for manufactured durable goods showed a slight increase in August as demand for aircraft and military equipment declined. At the same time, the data show that U.S. companies make investments in new capacity . Total orders for durable goods , which include items such as furniture and washing machines, which use the term more than three years , rose in August by 0.1 % to a seasonally adjusted $ 224.92 billion, the Commerce Department said . Economists forecast that orders will remain unchanged from the previous month.

Meanwhile, another report showed that sales of new U.S. homes rose in August by 7.9 % to a seasonally adjusted annual rate of 421,000 , recovering from a big drop in July. The increase was due to increased sales of new buildings in three of the four regions , according to official data released on Wednesday . Sales rose at the fastest pace of growth since January. Economists had expected sales to rise to 422,000 , compared with the initial estimate of sales in July of $ 394,000 . On Wednesday, the U.S. Commerce Department revised the July sales down to 390,000 .

The pound rose significantly against the dollar, which has helped to publish an optimistic report on Britain. It is learned that retail sales in September rose at the fastest pace in 15 months - a sign of continuing to strengthen consumer confidence and good prospects for the retail sector , said the Confederation of British Industry (CBI). Core retail sales in September reached 34 , the highest level since June 2012 against 27 in August. The index measures the difference between the number of retailers who reported an increase in sales , and companies which have notified their sales decline compared to the same period last year. Note that the report on retail sales growth came after a series of positive data that confirm the acceleration of recovery of the UK economy in Q3 .

Yen demonstrates mixed against the dollar, which related to the expectations of difficult negotiations between the White House and Republican opposition on the issue of raising the debt ceiling . If it does not improve , then at the end of October in the U.S. may default on debt . In addition, the Congress will adopt a budget for the new fiscal year, which begins in the U.S. on October 1 . The U.S. Senate on Monday began its consideration of the bill , which provides funding for state institutions since the beginning of the new fiscal year (October 1) until December 15 , but providing for the refusal to finance health care reform - one of the major initiatives of President Barack Obama. The bill was approved on Friday the House of Representatives, controlled by Republicans .

Market Focus
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