• European session: the euro declined significantly against the U.S. dollar

Notícias do Mercado

25 novembro 2013

European session: the euro declined significantly against the U.S. dollar

Data

4:00 Japan BOJ Haruhiko Kuroda speaks

8:15 Switzerland Employed III m 4.17 4.19 4.19

09:30 UK approved applications for mortgage loans as BBA, th October 43.0 45.2 42.8


Euro fell against the U.S. dollar , which was associated with the comments of representatives of the ECB. Note that today, ECB Governing Council member Christian Noyer that interest rates should remain low for an extended period of time , and if necessary they can be further reduced , as officials try to ensure price stability in the euro area .

"If regular monetary policy stops working , in order to achieve price stability, the central bank must " invent " policy" , - said Noyer , suggesting that after a sudden deceleration of inflation , the ECB leaves all options open.

"We see a risk that inflation will remain low for some time . We will keep interest rates low for an extended period of time , or even lower , if it is necessary for price stability , " Noyer said .

Meanwhile, ECB executive board member Benoit Ker said that at the moment disinflation in Europe is likely to continue , but will not progress to deflation , because the economy recovers , and inflation expectations remain at around 2 percent. Ker said that the European economy is stabilizing and strengthening the banking sector , but policymakers need to make progress in structural reforms to reduce unemployment and stimulate business investment .

It should also be noted that many market participants are waiting for the publication of data on the U.S. housing market and the index of manufacturing activity Dallas Fed . Experts expect that the number of pending home sales rose 2.2 percent in October after rising 5.5 percent the previous month.

Pound declined significantly against the dollar , as the report showed that the number of mortgage approvals in the UK fell unexpectedly in October. According to the data , the number of mortgages approved for home purchase in October was 42,808 , compared with 43,182 in September. Economists forecast that the value of this index will rise to the level of 45200 .

Nevertheless , it became known that the number of permits for house purchase increased by 33 percent compared to October last year. Note that this growth contributed to the government scheme " help with buying " as well as a mortgage program for those who are first-time buyers .

Meanwhile, data showed that gross mortgage lending was 9.9 billion pounds ($ 16.060 billion ) in October , which was the highest level since December 2009 (when lending stood at £ 10 billion ) . We also recall that in September this indicator was at 9.7 billion pounds . In October last year the volume of lending was 7.5 billion pounds .

In the British Bankers' Association also reported that bank lending to non-financial firms fell to 940 million pounds in October, which followed the growth of 2.234 billion pounds in September. This implies that the demand from firms and access to bank loans is impaired .

The yen fell to a six-month low against the dollar after reaching an agreement with Iran on its nuclear program . Iran and "six" ( five permanent members of the UN Security Council and Germany) on Sunday night during the next round of talks in Geneva have reached an agreement on the Iranian nuclear program ( INP) . Within six months, Iran " freeze " its nuclear program and halt construction of a reactor in Arak . Western countries , in turn, will remove economic sanctions against Tehran . After the deal with Iran , the market is a better attitude towards risk.

Also this week, Statistics Bureau of Japan may report that consumer prices in the country rose in October by 0.9 % in annual terms , after rising 0.7 % the previous month . The acceleration of inflation will testify to the success of efforts to restore the Bank of Japan's economy. Today in Tokyo, Japan's deputy finance minister said that deflation in the country coming to an end and the economy starts recovering.

EUR / USD: during the European session, the pair fell to $ 1.3506

GBP / USD: during the European session, the pair fell to $ 1.6182

USD / JPY: during the European session, the pair rose to Y101.93, then decreased slightly


At 15:00 GMT the U.S. will report on changes in the volume of pending home sales in October. At 16:30 GMT SNB head Thomas Jordan will deliver a speech . At 23:50 GMT the meeting minutes will be published on the Bank of Japan's monetary policy .

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