Euro fell against the U.S. dollar on a background of ECB President Mario Draghi . Earlier it was reported that the ECB kept its benchmark interest rate at a record low of 0.25%. Deposit rate was also kept at zero.
Head of the European Central Bank Mario Draghi has once again confirmed the promise controller to keep rates at the minimum values in the near future . " The Governing Council strongly emphasizes that he intends to keep stimulating monetary policy as long as it is necessary " - Draghi said in a speech at a press conference in Frankfurt.
According to him , inflation in the eurozone will remain low for at least two years. ECB President believes that it is too early to talk about the victory over the crisis as " the eurozone 's economic recovery is weak, moderate and unstable ." Expansionary policy will lead to a revitalization of domestic demand in the euro zone in 2014-2015 . Believes Draghi .
Earlier, the euro rose against the dollar significantly after the data for the euro area , which showed that economic sentiment in the euro zone rose to more than two-year high in December , which is a sign that the economic recovery is starting to gain momentum after a long decline .
Data published by the European Commission , supported by a growing list of statistics, which indicates improvement in business confidence and spending .
The report showed that the index of sentiment in the economy rose in December to a level of 100 points, compared to 98.4 points in November , while reaching its highest level since July 2011 .
Rise was broad-based and in all sectors . It is noteworthy that the trust between providers of the service sector was in the "plus" for the first time since August 2011 , while industrial companies were the second level of confidence.
Furthermore, it became known that the index of German economic sentiment was one of the most positive in December - at the level of 106.0 points. In Spain , the figure rose to 100.0 , while Italy he rose to 96.2 from November's 93.9 .
Pound traded slightly higher against the dollar on the fact that the Bank of England left unchanged interest rate and bond-buying program to support the UK economy. The Bank of England left its key interest rate unchanged at 0.5% and the size of its bond purchase program untouched for 375 billion pounds .
As usual, when there is no change in policy , Monetary Committee is not making a statement explaining its decision . Minutes of committee meetings will be published on January 22.
Economists expect GDP growth in 2014 is 2.5% , the highest since 2007. But despite this growth , some economists expect the central bank to start raising the UK refuses to borrowing costs in the near future .
Bank of England officials headed by Mark Carney pledged to keep its benchmark interest rate at a record low level in order to support the growing recovery in Britain as long as inflation remains subdued .
EUR/USD $1.3550, $1.3585, $1.3590, $1.3600, $1.3700
USD/JPY Y103.75-85, Y104.00, Y104.50, Y104.95, Y105.00, Y105.40, Y105.50, Y106.00, Y106.05-10
EUR/JPY Y142.00
EUR/GBP stg0.8325
USD/CHF Chf0.9000, Chf0.9050, Chf0.9080
EUR/CHF Chf1.2300, Chf1.2350
AUD/USD $0.8800, $0.8850, $0.8950, $0.9000
EUR/AUD A$1.5250
AUD/JPY Y93.40
NZD/USD $0.8200
Data
00:30 Australia Building Permits m / m in November -1.6% Revised to -1.8% -0.9 % -1.5 %
00:30 Australia Building Permits y / y in November +23.1 % +20.1 % +22.2 %
00:30 Australia Retail Sales m / m +0.5 % in November 0.5% 0.7%
00:30 Australia Retail Sales y / y +3.6 % in November
1:30 China Producer Price Index y / y in December -1.4 % -1.2 % -1.4 %
1:30 China Consumer Price Index y / y in December +3.0 % +2.7 % +2.5 %
7:45 France Trade Balance , Revised -4.8 billion in November from -4.7 -4.6 -5.6
09:30 UK Trade balance -9.7 -9.5 -9.4 November
10:00 Eurozone business sentiment in December 0.18 0.2 0.27
10:00 Eurozone Economic Sentiment 98.5 99.0 100.0 December
10:00 Eurozone business optimism in the industry -3.9 -3.3 -3.4 December
11:00 Germany Industrial Production ( m / m) in November -1.2 % +1.6% +1.9%
11:00 Germany Industrial Production y / y November +1.0% +3.4% +3.9%
12:00 UK BoE decision on interest rate 0.50% 0.50 % 0.50%
12:00 UK BoE decision in terms of the program of asset purchases 375 375 375
12:00 UK BoE statement Cover
12:45 Eurozone Interest Rate Decision ECB 0.25% 0.25 % 0.25%
The euro exchange rate against the dollar has grown significantly , due to the expectations of the press conference, ECB head Draghi . It is expected that Mario Draghi will use a balanced tone after the announcement of the decision on the rate , which has remained unchanged - at the level of 0.25 %. Experts say that most likely will not be announced any additional measures to stimulate the economy.
Moreover, the impact on the bidding had data for the euro area , which showed that economic sentiment in the euro zone rose to more than two-year high in December , which is a sign that the economic recovery is starting to gain momentum after a long decline .
Data published by the European Commission , supported by a growing list of statistics, which indicates improvement in business confidence and spending .
The report showed that the index of sentiment in the economy rose in December to a level of 100 points, compared to 98.4 points in November , while reaching its highest level since July 2011 .
Rise was broad-based and in all sectors . It is noteworthy that the trust between providers of the service sector was in the "plus" for the first time since August 2011 , while industrial companies were the second level of confidence.
Furthermore, it became known that the index of German economic sentiment was one of the most positive in December - at the level of 106.0 points. In Spain , the figure rose to 100.0 , while Italy he rose to 96.2 from November's 93.9 .
Pound with a slight rise against the dollar, given the fact that the Bank of England left unchanged interest rate and bond-buying program to support the UK economy. The Bank of England left its key interest rate unchanged at 0.5% and the size of its bond purchase program untouched for 375 billion pounds .
As usual, when there is no change in policy , Monetary Committee is not making a statement explaining its decision . Minutes of committee meetings will be published on January 22.
Economists expect GDP growth in 2014 is 2.5% , the highest since 2007. But despite this growth , some economists expect the central bank to start raising the UK refuses to borrowing costs in the near future .
Bank of England officials headed by Mark Carney pledged to keep its benchmark interest rate at a record low level in order to support the growing recovery in Britain as long as inflation remains subdued .
EUR / USD: during the European session, the pair rose to $ 1.3623
GBP / USD: during the European session, the pair rose to $ 1.6479 , then dropped to $ 1.6450
USD / JPY: during the European session, the pair rose to Y105.06
At 13:30 GMT will be held monthly press conference of the ECB. Also this time, Canada announces the change of volume of building permits issued , and will release the house price index in the primary market in November.
EUR/USD $1.3550, $1.3585, $1.3590, $1.3600, $1.3700
USD/JPY Y103.75-85, Y104.00, Y104.50, Y104.95, Y105.00, Y105.40, Y105.50, Y106.00, Y106.05-10
EUR/JPY Y142.00
EUR/GBP stg0.8325
USD/CHF Chf0.9000, Chf0.9050, Chf0.9080
EUR/CHF Chf1.2300, Chf1.2350
AUD/USD $0.8800, $0.8850, $0.8950, $0.9000
EUR/AUD A$1.5250
AUD/JPY Y93.40
NZD/USD $0.8200
00:30 Australia Building Permits, m/m November -1.8% -0.9% -1.5%
00:30 Australia Building Permits, y/y November +23.1% +20.1% +22.2%
00:30 Australia Retail sales (MoM) November +0.5% +0.5% +0.7%
00:30 Australia Retail Sales Y/Y November +3.6%
01:30 China PPI y/y December -1.4% -1.2% -1.4%
01:30 China CPI y/y December +3.0% +2.7% +2.5%
The dollar remained higher versus most major peers before government data today forecast show initial claims for unemployment benefits fell. Initial jobless claims in the U.S. probably fell to 335,000 in the week through Jan. 4 from 339,000 in the previous period, according to the median estimate of economists surveyed by Bloomberg News before today’s Labor Department report. A report tomorrow may say U.S. employers continued to add positions and the jobless rate remained at a five-year low. Data tomorrow may show employers in the world’s biggest economy added 195,000 jobs last month after boosting positions by 203,000 in November, according to a separate poll. The unemployment rate probably held at 7 percent, the least since November 2008.
The pound traded near its strongest in a year against the euro before policy decisions by the European Central Bank and the Bank of England today. ECB officials meeting today will probably keep the benchmark at a record-low 0.25 percent, according to all 51 economists and analysts surveyed by Bloomberg. Policy makers at the BOE are likely to refrain from changing its 0.5 percent key rate, a separate poll showed.
Australia’s currency weakened along with Asian stocks. Government reports showed retail sales in the nation rose in November by more than economists predicted, while building approvals declined.
EUR / USD: during the Asian session, the pair traded in the range of $ 1.3565-85
GBP / USD: during the Asian session, the pair traded in the range of $ 1.6440-60
USD / JPY: on Asian session the pair traded in the range of Y104.75-00
UK trade data will be released at 0930GMT. Business surveys have suggested UK export growth should accelerate, but the official data have painted a picture of exporters struggling in the face of weak Eurozone demand. In October goods exports to EU countries fell by stg0.5 billion on the month to stg12.1 billion and the EU goods trade balance widened to a record stg6.5 billion. The UK's total trade gap is expected to remain unchanged at stg2.6 billion in November, with a slight improvement in the goods trade gap. The January BOE Monetary Policy Decision will be released at 1200GMT and will likely see the MPC treading water. All the external debate is about what the MPC will do as the jobless rate, currently at 7.4%, nears the 7.0% policy threshold. Even if this were to happen as early as the end of Q1, the March jobless rate data will not be published until May, so the MPC does have a little time on its hand to debate its next step.
(00:00 GMT +02:00)/change, %)
EUR/USD $1,3574 -0,29%
GBP/USD $1,6446 +0,28%
USD/CHF Chf0,9111 +0,24%
USD/JPY Y104,84 +0,24%
EUR/JPY Y142,33 -0,05%
GBP/JPY Y172,44 +0,54%
AUD/USD $0,8899 -0,29%
NZD/USD $0,8264 -0,21%
USD/CAD C$1,0819 +0,51%
00:30 Australia Building Permits, m/m November -1.8% -0.9%
00:30 Australia Building Permits, y/y November +23.1% +20.1%
00:30 Australia Retail sales (MoM) November +0.5% +0.5%
00:30 Australia Retail Sales Y/Y November +3.6%
01:30 China PPI y/y December -1.4% -1.2%
01:30 China CPI y/y December +3.0% +2.7%
07:45 France Trade Balance, bln November -4.7 -4.6
09:30 United Kingdom Trade in goods November -9.7 -9.5
10:00 Eurozone Business climate indicator December 0.18 0.2
10:00 Eurozone Economic sentiment index December 98.5 99.0
10:00 Eurozone Industrial confidence December -3.9 -3.3
11:00 Germany Industrial Production s.a. (MoM) November -1.2% +1.6%
11:00 Germany Industrial Production (YoY) November +1.0% +3.4%
12:00 United Kingdom BoE Interest Rate Decision 0.50% 0.50%
12:00 United Kingdom Asset Purchase Facility 375 375
12:00 United Kingdom MPC Rate Statement
12:45 Eurozone ECB Interest Rate Decision 0.25% 0.25%
13:15 Canada Housing Starts December 192 196
13:30 Eurozone ECB Press Conference
13:30 Canada Building Permits (MoM) November +7.4% -2.3%
13:30 Canada New Housing Price Index November +0.1% +0.2%
13:30 U.S. Initial Jobless Claims January 339 337