• American focus: the yen has risen sharply

Notícias do Mercado

22 abril 2013

American focus: the yen has risen sharply

The euro exchange rate rose slightly against the dollar, recovering with a minimum values ​​of the session. Note that the dynamics of trade affected information that the incumbent President of Italy Giorgio Napolitano was re-elected for a second term. 87-year-old Napolitano agreed to once again participate in the elections, after parliament failed to elect the fifth attempt of his successor. On the eve of the Italian center-left leader Pier Luigi Bersani said he would step down as chairman of the Democratic Party, unless the parliament will elect a new president. Bersani, previously regarded as the most likely candidate for the post of prime minister, said the refusal of the leadership in the party, after the parliament did not support his proposed two candidates for the presidency. Also presented today by the National Association of Realtors report showed that purchases in the secondary market fell last month by 0.6% to 4.92 million for the year. The median forecast of economists projected sales would increase to 5.00 million Estimates ranged from 4.9 million to 5.2 million homes on the market prices rose, reflecting the growing demand for more expensive homes. The pace of previous months have been revised to 4.95 million from a previously reported 4.98 million purchase in the secondary market to gradually rise from a 13-year low of 4.11, which was achieved in 2008. The largest volume reached 7.08 in 2005. The average price of homes sold in the secondary market increased by 11.8 percent, the highest since November 2005, to $ 184,300 last month from $ 164,800 in March 2012.

Value of the pound rose against the dollar after amplification of risk aversion on weak report on the U.S. housing market. Note that the GBP / USD managed to recover and even reach new daily highs. Recall that the international rating agency Fitch Ratings downgraded the sovereign rating by one notch the UK - with the highest possible "AAA" to "AA +". The rating outlook - "stable," the agency said. Two months ago, a similar rating action taken agency Moody's Investors Service, the credit rating worsening the UK to "Aa1".

The yen rose against the dollar, and once again failed to take the mark Y100.00, despite the fact that the G20 has given Japan the green light on the issue of monetary policy easing, believing Aso and Kuroda, that it is aimed at fighting deflation. Note also that in fact, a weak report on the U.S. housing market has helped to reduce the mood and the USD / JPY briefly fell below 99.00. However, the pair was able to recover, and now is consolidating above 99.00. We also add that the short-term indicators for the pair USD / JPY were negative, but in a broader perspective, the positive tone prevails. However, the daily charts are moving away from overbought levels. The pair may have to wait before it attains sufficient strength to break 100.00.


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