The euro exchange rate rose substantially against the U.S. currency , and are now able to stabilize near the maximum values of the session. Experts note that in light of the lack of important events in the calendar today , in the short term , markets will take a neutral position. However, as the ECB meeting on Thursday movements can significantly perk up . Although the probability of any new action on rates or other measures of support is maintained, the chances are that it will happen this month, a little.
It should also be noted that in the course of today's trading was also influenced by data that showed that the prices of manufactured goods in the euro zone fell at the fastest pace in nearly four years in October , it probably can reinforce fears that the low inflation that could threaten fragile recovery in Europe and in the world. Statistical agency of the European Union on Tuesday noted that producer prices fell 0.5 % m / m and were 1.4% lower than in October 2012. It was the largest drop in 12 - month period from December 2009 . Reduced prices for the month and the year was more than expected. Energy prices fell sharply by 3.6 %, while prices for intermediate goods recorded a decline of 1.8%. Meanwhile, the prices of capital goods and durable consumer goods rose by 0.5 % each.
Among the member states of the eurozone 's largest decrease was recorded in Cyprus, Bulgaria , the Netherlands and Croatia. The highest growth was recorded in Estonia , Ireland, Denmark and Romania. In the European Union as a whole, producer prices fell 1.1 % in October , after falling 0.6 % in September. On a monthly measurement of prices decreased by 0.6 % , after a 0.1% rise in the previous month.
Pound has risen considerably against the U.S. dollar , thus restoring lost almost all positions yesterday , which was associated with the release of strong data on UK PMI construction sector. As it became known , the activity in the UK construction sector grew in November at the fastest pace since August 2007 . According to the company Markit and Chartered Institute of Chartered Surveyors, the Purchasing Managers Index (PMI) for the UK construction sector in November rose to 62.6 from 59.4 in October , exceeding the level of 50, delimiting the increased activity on its decline. Components of output and employment grew the strongest pace since August 2007 . The increase in new orders was the fastest since September 2007 . Activity in the sphere of housing construction rose at the fastest pace in a decade in November. Work on commercial construction projects increased the strongest pace since September 2007 . Activities in the field of civil construction also increased at a steady pace , but the growth rate is almost unchanged compared with October .
Recent reports on strong industrial and construction PMI confirmed the strong recovery of the British economy , the pound strengthened . The next major event will be tomorrow's publication services PMI Britain before the upcoming meeting of the Bank of England.
USD/JPY Y101.00, Y101.75, Y102.00, Y102.50, Y103.00, Y103.30, Y103.50, Y104.00
EUR/JPY Y136.90, Y139.50
EUR/USD $1.3400, $1.3500, $1.3515, $1.3520, $1.3525, $1.3535, $1.3600, $1.3625
GBP/USD $1.6200, $1.6350
EUR/GBP stg0.8280
USD/CHF Chf0.9200
USD/CAD C$1.0635
09:30 United Kingdom PMI Construction November 59.4 59.3 62.6
10:00 Eurozone Producer Price Index, MoM October +0.1% -0.1% -0.5%
10:00 Eurozone Producer Price Index (YoY) October -0.9% -1.0% -1.4%
The euro rose against the dollar on expectations of the outcome of the meeting of the ECB 's monetary policy . In anticipation of this event , experts TD Securities noted: " Although the likelihood of any new action on rates or other measures of support is maintained, the chances are that it will happen this month, a little. While downside risks remain small and tactical rhetoric ECB lowering rates will remain effective deterrent tactics , but this simply leaves the fate of the eurozone at the mercy of the pulse of the world economy . "
With regard to published statistics , the report showed that the prices of industrial goods in the euro zone fell at the fastest pace in nearly four years in October , it probably can reinforce fears that the low inflation that could threaten the fragile recovery in Europe and in the world. Statistical agency of the European Union on Tuesday noted that producer prices fell 0.5 % m / m and were 1.4% lower than in October 2012. It was the largest drop in 12 - month period from December 2009 . Reduced prices for the month and the year was more than expected. Energy prices fell sharply by 3.6 %, while prices for intermediate goods recorded a decline of 1.8%. Meanwhile , the prices of capital goods and durable consumer goods rose by 0.5 % each.
Among the member states of the eurozone 's largest decrease was recorded in Cyprus, Bulgaria , the Netherlands and Croatia. The highest growth was recorded in Estonia , Ireland, Denmark and Romania. In the European Union as a whole , producer prices fell 1.1 % in October , after falling 0.6 % in September. On a monthly measurement of prices decreased by 0.6 % , after a 0.1% rise in the previous month.
The British pound rose against most major currencies after the release of the data , according to which the activity of the construction sector in the UK in November grew at the fastest pace since August 2007 . According to the company Markit and Chartered Institute of Chartered Surveyors, the Purchasing Managers Index (PMI) for the UK construction sector in November rose to 62.6 from 59.4 in October , exceeding the level of 50, delimiting the increased activity on its decline.
Components of output and employment grew the strongest pace since August 2007 . The increase in new orders was the fastest since September 2007 .
Activity in the sphere of housing construction rose at the fastest pace in a decade in November. Work on commercial construction projects increased the strongest pace since September 2007 . Activities in the field of civil construction also increased at a steady pace , but the growth rate is almost unchanged compared with October .
Markit chief economist Chris Williamson said in a note that the data " are encouraging in terms of sustainability of the recovery of the British economy . They suggest that recent developments have prompted builders to bookmark more new homes , which increased housing supply to meet the high demand. Data also indicate that / companies with greater certainty make investments in property and infrastructure facilities . "
EUR / USD: during the European session, the pair rose to $ 1.3582
GBP / USD: during the European session, the pair rose to $ 1.6436
USD / JPY: during the European session, the pair fell to Y102.53
In the United States will vote for the appointment of the Chairman of the Fed. At 21:30 GMT the United States will change in the volume of crude oil , according to the API. At 22:30 GMT , Australia will publish the index of activity in the service sector from AiG for November.
EUR/USD
Offers $1.3690/710, $1.3660/65, $1.3650, $1.3620/30, $1.3595/600, $1.3580
Bids $1.3555/45, $1.3525/15, $1.3490/80, $1.3460/50
GBP/USD
Offers $1.6500, $1.6480, $1.6450
Bids $1.6310/00, $1.6280/75, $1.6260/55
AUD/USD
Offers $0.9220, $0.9200, $0.9180, $0.9150
Bids $0.9080, $0.9000
EUR/GBP
Offers stg0.8395/400, stg0.8345/55, stg0.8300
Bids stg0.8250, stg0.8220, stg0.8205/00
USD/JPY
Offers Y104.25, Y104.00, Y103.50
Bids Y102.60, Y102.50, Y102.00
EUR/JPY
Offers Y141.00, Y140.50, Y139.75/80
Bids Y139.00, Y138.80, Y138.55/50
Industrial producer prices in the euro area decreased for the third consecutive month in October, and the rate of fall exceeded economists' expectations, latest data revealed Tuesday.
The producer price index for the domestic market dropped 1.4 percent year-on-year in October, statistical office Eurostat said. This followed declines of 0.9 percent each in August and September. Economists had expected prices to fall 1 percent in October.
Energy prices fall sharply by 3.6 percent, and intermediate goods prices recorded a 1.8 percent decline. Meanwhile, prices of capital goods and durable consumer goods increased 0.5 percent each.
The headline producer price index decreased a seasonally adjusted 0.5 percent compared to September, when they recorded a 0.2 percent increase, which was revised up from 0.1 percent. Expectations were for a 0.2 percent fall in October.
Among member states, the largest decreases were registered in Cyprus, Bulgaria, the Netherlands and Croatia. The biggest increases were recorded in in Estonia, Ireland, Denmark and Romania.
In the European Union (EU), overall producer prices dropped 1.1 percent annually in October, after falling 0.6 percent in September. Sequentially, prices decreased 0.6 percent, following the previous month's 0.1 percent increase.
British construction sector activity grew at the sharpest pace in just over six years, led by solid expansion in output and incoming new work, a survey by Markit Economics and the Chartered Institute of Purchasing and Supply (CIPS) revealed Tuesday.
The headline purchasing managers' index rose to 62.6 in November from 59.4 in October, signaling another strong upturn in the construction sector. The reading was the highest since August 2007.
A reading above 50 indicates expansion of the sector. The index has now posted above the no-change mark of 50 for a seventh consecutive month.
Both output and employment rose at the sharpest rate since August 2007. The increase in the volume of incoming new work was the joint-fastest since September 2007.
House building activity rose at the fastest pace in ten years in November. Work on commercial construction projects increased at the steepest pace since September 2007. Civil engineering activity also increased at a robust pace, but the rate of increase was little changed from that in October.
USD/JPY Y101.00, Y101.75, Y102.00, Y102.50, Y104.00
EUR/JPY Y136.90
EUR/USD $1.3400, $1.3500, $1.3515, $1.3520, $1.3525, $1.3535, $1.3600, $1.3625
GBP/USD $1.6200
EUR/GBP stg0.8280
USD/CHF Chf0.9200
00:01 United Kingdom BRC Retail Sales Monitor y/y November +0.8% +1.1% +0.6%
00:30 Australia Current Account, bln Quarter III -9.4 -11.1 -12.7
00:30 Australia Retail sales (MoM) October +0.8% +0.4% +0.5%
00:30 Australia Retail Sales Y/Y October +2.9% +3.6%
01:00 China Non-Manufacturing PMI November 56.3 56.0
01:30 Japan Labor Cash Earnings, YoY October +0.1% +0.1%
03:30 Australia Announcement of the RBA decision on the discount rate 2.50% 2.50% 2.50%
03:30 Australia RBA Rate Statement
The U.S. Dollar Index headed for its highest closing level in more than two months after a report showed manufacturing unexpectedly accelerated in November at the fastest pace since April 2011.
A private survey tomorrow may show employers in the U.S. boosted jobs last month by the most since June. ADP Research Institute will probably say tomorrow companies in the U.S. added 170,000 positions in November, which would be the most in five months, according to the median estimate of economists surveyed by Bloomberg News.
The Institute for Supply Management’s non-manufacturing index tomorrow may indicate continued expansion in industries that make up almost 90 percent of the world’s biggest economy.
The U.S. central bank is scheduled to release tomorrow its Beige Book business survey that provides policy makers with anecdotal accounts from the Fed districts two weeks before they meet to set monetary policy.
Australia’s dollar reached a five-year low versus its New Zealand counterpart as the larger nation’s Reserve Bank said a weaker currency was likely needed for balanced growth.
EUR / USD: during the Asian session, the pair traded in the range of $ 1.3525-45
GBP / USD: during the Asian session the pair was trading in the $ 1.6345-65
USD / JPY: during the Asian session, the pair rose to Y103.40
There is another full calendar on both sides of the Atlantic Tuesday, with both data and central bank speak to the fore. The European calendar gets underway at 0800GMT, with the release of the Spanish Nov unemployment data. Analysts are looking for an increase of 50,000 against last month's 87,000 rise. At 0900GMT, German Nov car registrations data will cross the wires. UK data is due at 0930GMT and includes the Nov CIPS/Markit Construction PMI data and the BOE minutes from the November FPC meeting. The Construction PMI may well ease a little after hitting a 79-month high in Oct. The sector appears to be enjoying solid growth after an extended period languishing in contractionary territory. The construction sector could continue to perform well if the economic recovery remains on track and housing market activity continues to increase. The PMI surveys have tended to surprise to the upside in recent months, however, and RBS forecast a rise to 59.5. The EMU Oct PPI data will be released at 1000GMT, with analysts looking for a fall of 0.2% on month and a fall of 1% on year. Bundesbank's Carl-Ludwig Thiele will deliver a speech in Berlin at 1800GMT, while ECB's Ewald Nowotny is scheduled to speak in BrusselS at the same time.
(pare/closed(00:00 GMT +02:00)/change, %)
EUR/USD $1,3541 -0,32%
GBP/USD $1,6354 -0,08%
USD/CHF Chf0,9085 +0,21%
USD/JPY Y102,93 +0,51%
EUR/JPY Y139,38 +0,19%
GBP/JPY Y168,33 +0,44%
AUD/USD $0,9102 -0,07%
NZD/USD $0,8184 +0,62%
USD/CAD C$1,0642 +0,27%
00:01 United Kingdom BRC Retail Sales Monitor y/y November +0.8% +1.1%
00:30 Australia Current Account, bln Quarter III -9.4 -11.1
00:30 Australia Retail sales (MoM) October +0.8% +0.4%
00:30 Australia Retail Sales Y/Y October +2.9%
01:00 China Non-Manufacturing PMI November 56.3
01:30 Japan Labor Cash Earnings, YoY October +0.1%
03:30 Australia Announcement of the RBA decision on the discount rate 2.50% 2.50%
03:30 Australia RBA Rate Statement
08:00 United Kingdom Halifax house price index November +0.7% +0.8%
08:00 United Kingdom Halifax house price index 3m Y/Y November +6.9% +7.2%
09:30 United Kingdom PMI Construction November 59.4 59.3
10:00 Eurozone Producer Price Index, MoM October +0.1% -0.1%
10:00 Eurozone Producer Price Index (YoY) October -0.9% -1.0%
21:30 U.S. API Crude Oil Inventories November +6.9
23:30 Australia AIG Services Index November 47.9