• American focus: the euro has shown rapid growth

Noticias del mercado

16 agosto 2012

American focus: the euro has shown rapid growth

After three days of recession, market participants today are still able to achieve a strengthening of the euro. During the first half of the day maintained the pressure on the euro, as market participants were waiting for release of data on consumer price index. After its publication, it became clear that the situation remained the same as the index remained stable and in line with analysts' expectations. But despite this, the market situation started to change gradually in favor of the euro. The attention of many traders immediately switched to the output data for the U.S., which, as expected, were to influence the growth of the dollar. Prior to the publication of the reports the euro gained slightly, while departing from the values ​​of the day. But immediately after the published data showed that the number of building permits has increased markedly in July, and the level of housing starts decreased by 1.1% the euro started to rise rapidly and confidently. Also helped the growth of the single currency presented by the Philadelphia Fed manufacturing index, which fell in August to -7.1 from -12.9 in July. In the end of the session on the euro against the dollar was able to show growth at more than one figure.

Unprecedented movement also spread to other couples. Significant growth was able to show today, the pound sterling. After a bad start to the day, which was caused by the depreciation of currencies against the dollar by 50 points, the pair began their recovery. At first it was due to expectations of data on the level of retail sales, according to which a significant increase was recorded during the month of 0.3% compared to 0.1% in June. As a result of news of the pair managed to recover with minimum values ​​and update with the high of the day. Output data for the United States helped the pair make another rapid spurt that the outcome of the session allowed the pair to show growth at a single figure.

Also notable movement was pleased today the Swiss franc. Its value today, had little impact index value of investors' expectations according to the ZEW and Credit Suisse, which amounted to -33.3 in August, compared with -42.5 in July. But a little more on the value of currency affect U.S. data, which caused the depreciation of the franc against the dollar by about 90 points.

The unusual dynamics of today introduced the Canadian dollar against the U.S. dollar. Surprising is the fact that the currency barely reacted to the economic releases from the United States, and strengthened the beginning only a couple of hours, which was due to the fact that the rating agency Moody's has published its annual report on Canada.

The other major pairs mainly show the same dynamics, which is a marked increase in the exchange rate against the U.S. dollar.

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