• European session: the euro fell versus the dollar, paring a second weekly advance

Noticias del mercado

12 abril 2013

European session: the euro fell versus the dollar, paring a second weekly advance

09:00 Eurozone Industrial production, (MoM) February -0.6% +0.3% +0.4%

09:00 Eurozone Industrial Production (YoY) February -2.4% -2.5% -3.1%

09:00 Eurozone Eurogroup Meetings April

10:00 Eurozone ECB Announces 3-Year LTRO Repayment


The euro fell versus the dollar, paring a second weekly advance, as European finance ministers meet in Dublin to review the state of Cyprus’s rescue package and the easing of bailout-loan terms for Ireland and Portugal. European finance ministers will try to reach an agreement on extending rescue-loan maturities for Ireland and Portugal at their meeting in Dublin, Dutch Finance Minister Jeroen Dijsselbloem said. Irish and Portuguese rescue programs face uncertainty from events like the depositor losses imposed in Cyprus and would benefit from a strong signal of European Union support, Eurogroup Working Group President Thomas Wieser said.

The 17-nation currency slid against most of its 16 major peers as Cyprus was forced to deny it required additional European aid and Germany’s Handelsblatt newspaper reported a discussion on direct bank recapitalization from Europe’s bailout fund was “going in circles.” Cyprus President Nicos Anastasiades hasn’t requested additional financial assistance, government spokesman Christos Stylianides said in an-emailed statement from Nicosia, countering earlier reports.

The dollar was set for a weekly decline versus most of its major counterparts before a report economists said will show U.S. retail sales stalled in March.

The yen rose before a Group of 20 meeting next week. G-20 finance ministers and central bank governors gather April 18-19 for the first time since mid-February, when they released a statement pledging not to “target our exchange rates for competitive purposes.” The Japanese currency has continued to weaken since that statement as Kuroda took the helm of the BOJ and pledged to do whatever it takes to exit deflation.

The British pound fell against the dollar on a background report on manufacturing in the UK construction sector, which in February rose by 5.5% compared to the previous month. However, compared to the same period the previous year, it was reduced to 7%. These data are not adjusted for seasonal fluctuations in activity and may be revised. The UK economy is risking a recession for the third time in five years. A recession is usually defined as a decline in GDP for two consecutive quarters. UK GDP in the 4th quarter of 2012 decreased by 0.3%.


EUR / USD: during the European session, the pair fell to $ 1.3039


GBP / USD: during the European session, the pair fell to $ 1.5342

USD / JPY: during the European session, the pair fell to Y98.86

In the U.S., at 12:30 GMT will change in the volume of retail trade, including the excluding sales of cars and fuel for March, the producer price index, including excluding prices for food and energy in March, in the 13:55 GMT - consumer sentiment index from the University of Michigan in April, at 14:00 GMT - the change in volume Business Inventories for February, at 21:00 GMT - the report of the Treasury currency.

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