The U.S. dollar rose against major currencies on the back of strong retail sales data in the U.S.. The key to the U.S. economy holiday sales season started on a positive note : in November retail sales rose by 0.7% compared with the previous month , which is slightly higher than economists' forecasts for a rise of 0.6%. By comparing. Compared with the same period last year retail sales in November rose 4.7 %. According to experts , the published data supplemented piggy encouraging news regarding the U.S. economy, which contribute to enhanced solutions for speculation the U.S. Federal Reserve next week to start folding bond-buying program , which now consumes 85 billion U.S. dollars monthly.
At the same time , the latest data from the Department of Labor showed that the number of people who applied for the first time unemployment benefits rose sharply last week. However, experts note that the Thanksgiving Day holiday could distort the data. According to the report , the number of initial claims for unemployment insurance rose to a seasonally adjusted 68,000 in the week ended Dec. 7 , at the same level reached 368,000 . Add that it was the biggest jump in this indicator over a year . Economists forecast that the number of complaints rise to the level of 321 thousand to 298 thousand , which was originally reported last week.
Earlier pressure on the euro have data showing that industrial production in the euro area seasonally adjusted fell 1.1 percent in October, the month that followed , after falling 0.2 percent in the previous month , which was revised downward from 0, 5 percent. Economists forecast that industrial production increased by 0.3 percent . In annual terms, the volume of industrial production increased in October by 0.2 percent , which was much weaker than economists forecast - at the level of 1.1 percent. We also add that industrial output in September was revised downward to 0.2 percent, compared with the initial estimate of 1.1 per cent level .
In addition, investor attention attracted publication ECB Monthly Report and statements of the head of the ECB Draghi .
Today , in his report of the ECB reiterated that due to the prevailing downside risks , monetary policy will remain accommodative as much as needed to support the economy in the eurozone. This year, the eurozone's GDP is expected to reach 0.4% , and in 2014 and 2015 . - Around 1.1 % and +1.5 % , respectively. According to the Central Bank , the eurozone could face a long period of low inflation , followed by an acceleration to a level close to the target , namely 2%.
We also add that the ECB head Mario Draghi made in the European Parliament with an explanation of the reasons behind the recent decisions of the Central Bank. Draghi said that since the beginning of the crisis in the eurozone was moving mainstream weak recovery. " Low economic activity and high unemployment led to easing of inflation . Against this backdrop, and as part of our mandate to maintain price stability , it was decided to lower the key interest rate to historically low levels , "- he said.
Draghi also said that the ECB has applied a number of non-standard measures to solve the problem of uneven distribution of the effects of lowering rates in the member countries of the eurozone.
Pound earlier rose sharply against the dollar, helped by data from the Conference Board, which showed that the leading indicator for the British economy grew in October , registering with the fourth monthly increase in a row, but in a lesser degree than in the previous month , indicating moderate economic growth in early 2014 . According to the report , the leading economic index increased in October by 0.4 percent on a monthly basis , thus reaching the level of 108.4 points. 6 of 7 components showed growth , the statement said CB.
At the same time , coincident index , which measures current economic situation , rose 0.1 percent to 105.2 points, after increasing 0.2 percent in September. During the six months to October , the leading index rose 4.4 percent, while the coincident index rose by 1.3 percent .
Swiss franc strengthened against the dollar earlier , responding thus to solve the SNB and statements of the head of SNB Jordan.
" The Swiss economy is still facing problems due to lack of growth momentum in the euro area , and the growth is likely to decline in the last quarter of this year ," said the president of the Swiss National Bank Thomas Jordan on Thursday . "The economy has developed favorably in the third quarter , but given the weak economic situation abroad , the risks continue to dominate in Switzerland " - Jordan said at a news conference .
Swiss central bank reiterated its earlier position to prevent the Swiss franc falling below 1.20 francs per euro , promising to buy foreign currency in unlimited quantities, and to take additional measures if necessary . Swiss National Bank also kept its key interest rate in the range of 0% - 0.25 % 10 - consecutive quarter that expected by most economists.
The central bank still expects the economy to grow by Switzerland 1 % to 1.5 % this year and to 2.0% by 2015. This means , Switzerland probably outpace the rest of Europe , as the region is just now coming out of the deep financial and economic crisis in decades. Projected inflation rate this year will be 0.2% , and " no risk of inflation in Switzerland is not at all ," the statement said .
USD/JPY Y101.00, Y101.50, Y103.00, Y103.50, Y104.00
EUR/USD $1.3600, $1.3750, $1.3760, $1.3765, $1.3835, $1.3850
GBP/USD $1.6235, $1.6245
EUR/CHF Chf1.2225, Chf1.2235
AUD/USD $0.9100, $0.9200, $0.9205, $0.9250
AUD/JPY Y92.50
EUR/AUD A$1.5170
USD/CAD C$1.0590, C$1.0600, C$1.0620, C$1.0630
USD/ZAR Zar10.40
Data
00:00 Australia Consumer Inflation Expectations December +1.9% +2.1%
00:10 New Zealand RBNZ This chapter Graeme Wheeler
00:30 Australia 's unemployment rate in November 5.7 % 5.8 % 5.8 %
00:30 Australia Employment Change in November 1.1 10.3 21.0
08:00 EU ECB President Draghi M.
8:30 Switzerland Swiss National Bank's decision on base rate 0.25% 0.25 % 0.25%
8:30 Meeting of Switzerland Swiss National Bank on monetary policy
8:30 Press Conference Switzerland Swiss National Bank
09:00 EU ECB Monthly Report December
10:00 Eurozone Industrial Production m / m in October -0.5% +0.4 % -1.1 %
10:00 Eurozone Industrial Production y / y in October +1.1 % +1.1 % +0.2%
The euro exchange rate against the dollar traded mixed , that is a reaction to the publication of the monthly economic report, the ECB and the statements of the head of the ECB Draghi .
Today , in his report of the ECB reiterated that due to the prevailing downside risks , monetary policy will remain accommodative as much as needed to support the economy in the eurozone. This year, the eurozone's GDP is expected to reach 0.4% , and in 2014 and 2015 . - Around 1.1 % and +1.5 % , respectively. According to the Central Bank , the eurozone could face a long period of low inflation , followed by an acceleration to a level close to the target , namely 2%.
We also add that the ECB head Mario Draghi made in the European Parliament with an explanation of the reasons behind the recent decisions of the Central Bank. Draghi said that since the beginning of the crisis in the eurozone was moving mainstream weak recovery. " Low economic activity and high unemployment led to easing of inflation . Against this backdrop, and as part of our mandate to maintain price stability , it was decided to lower the key interest rate to historically low levels , "- he said.
Draghi also said that the ECB has applied a number of non-standard measures to solve the problem of uneven distribution of the effects of lowering rates in the member countries of the eurozone.
Little influenced by the data , which showed that the seasonally adjusted industrial production fell by 1.1 percent in October, the month that followed , after falling 0.2 percent in the previous month , which was revised downward from -0.5 percent . Economists forecast that industrial production increased by 0.3 percent . In annual terms, the volume of industrial production increased in October by 0.2 percent , which was much weaker than economists forecast - at the level of 1.1 percent. We also add that industrial output in September was revised downward to 0.2 percent, compared with the initial estimate of 1.1 per cent level .
Pound rose sharply against the dollar, helped by data from the Conference Board, which showed that the leading indicator for the British economy grew in October , registering with the fourth monthly increase in a row, but in a lesser degree than in the previous month , indicating moderate economic growth in early 2014 . According to the report , the leading economic index increased in October by 0.4 percent on a monthly basis , thus reaching the level of 108.4 points. 6 of 7 components showed growth , the statement said CB.
At the same time , coincident index , which measures current economic situation , rose 0.1 percent to 105.2 points, after increasing 0.2 percent in September. During the six months to October , the leading index rose 4.4 percent, while the coincident index rose by 1.3 percent .
Swiss franc strengthened against the dollar , responding thus to solve the SNB and statements of the head of SNB Jordan.
" The Swiss economy is still facing problems due to lack of growth momentum in the euro area , and the growth is likely to decline in the last quarter of this year ," said the president of the Swiss National Bank Thomas Jordan on Thursday . "The economy has developed favorably in the third quarter , but given the weak economic situation abroad , the risks continue to dominate in Switzerland " - Jordan said at a news conference .
Swiss central bank reiterated its earlier position to prevent the Swiss franc falling below 1.20 francs per euro , promising to buy foreign currency in unlimited quantities, and to take additional measures if necessary . Swiss National Bank also kept its key interest rate in the range of 0% - 0.25 % 10 - consecutive quarter that expected by most economists.
The central bank still expects the economy to grow by Switzerland 1 % to 1.5 % this year and to 2.0% by 2015. This means , Switzerland probably outpace the rest of Europe , as the region is just now coming out of the deep financial and economic crisis in decades. Projected inflation rate this year will be 0.2% , and " no risk of inflation in Switzerland is not at all ," the statement said .
EUR / USD: during the European session, the pair fell to $ 1.3762 , but later came back to $ 1.3780
GBP / USD: during the European session, the pair rose to $ 1.6418
USD / JPY: during the European session, the pair rose to Y102.94, then retreated slightly
At 13:30 GMT , Canada will release the housing price index on the primary market for October and the capacity utilization rate in the 3rd quarter . Also this time, the U.S. will announce the change in the volume of retail trade and submit the import price index for November. At 15:00 GMT the U.S. will report on changes in the volume of reserves in commercial warehouses for October. At 21:30 GMT New Zealand will index of business activity in the manufacturing sector of Business NZ in November.
EUR/USD
Offers $1.3870/80, $1.3850/55, $1.3850, $1.3830/35, $1.3815/20
Bids $1.3764, $1.3725, $1.3715/00, $1.3694
GBP/USD
Offers $1.6550, $1.6520/30, $1.6500, $1.6470-80, $1.6420/30
Bids $1.6380/70, $1.6340, $1.6325/15, $1.6300/290
AUD/USD
Offers $0.9180, $0.9165/70, $0.9120/30, $0.9095/00, $0.9065/70
Bids $0.9000, $0.8989, $0.8980, $0.8950
EUR/JPY
Offers Y143.00, Y142.80, Y142.50, Y142.20/30, Y141.95/00
Bids Y141.15, Y140.80, Y140.50, Y140.25/20
USD/JPY
Offers Y103.75, Y103.50, Y103.40, Y103.15/20, Y102.94/95
Bids Y102.20, Y102.00, Y101.70, Y101.50
EUR/GBP
Offers stg0.8500, stg0.8475/80, stg0.8440/50, stg0.8431
Bids stg0.8380, stg0.8355/45, stg0.8330/20, stg0.8300/290, stg0.8260/50
USD/JPY Y101.00, Y101.50, Y103.00, Y103.50, Y104.00
EUR/USD $1.3600, $1.3750, $1.3760, $1.3765, $1.3835, $1.3850
GBP/USD $1.6235, $1.6245
EUR/CHF Chf1.2225, Chf1.2235
AUD/USD $0.9100, $0.9200, $0.9205, $0.9250
AUD/JPY Y92.50
EUR/AUD A$1.5170
USD/CAD C$1.0590, C$1.0600, C$1.0620, C$1.0630
USD/ZAR Zar10.40
00:00 Australia Consumer Inflation Expectation December +1.9% +2.1%
00:10 New Zealand RBNZ Governor Graeme Wheeler Speaks
00:30 Australia Unemployment rate November 5.7% 5.8% 5.8%
00:30 Australia Changing the number of employed November 1.1 10.3 21.0
The euro held a seven-day gain against the dollar that matched its longest rally since April 2011, before European Central Bank President Mario Draghi speaks in the European Union parliament today. President Draghi will speak in the European Parliament today, two days after he said it’s now “crucial” for “other actors” to complement the central bank’s monetary policy actions by carrying out changes at the regional and national level to enable a sustainable recovery. “The ECB, like all central banks, should not try to do what they cannot do and one of these is to supplement governments for structural reform action or repair broken banking systems,” he said in Rome.
The shared currency traded near a six-week high with data due today forecast to show a rebound in euro-area industrial production. Industrial production in the euro area probably grew 0.3 percent in October from the prior month, when it fell 0.5 percent, according to the median estimate of economists in a Bloomberg News survey before the European Union’s statistics office releases the data today.
The greenback snapped a two-day decline against the yen as investors weigh U.S. economic reports ahead of next week’s Federal Reserve meeting.
Australia’s dollar fell after unemployment rose to match the highest level since 2009. In Australia, the unemployment rate climbed to 5.8 percent in November from 5.7 percent a month earlier, the statistics bureau said in Sydney today. That matches the highest level since June 2009. The total number of people employed rose by 21,000, beating economists’ estimates for a 10,000 increase.
EUR / USD: during the Asian session, the pair is trading around $ 1.3785
GBP / USD: during the Asian session the pair fell to $ 1.6350
USD / JPY: during the Asian session, the pair rose to Y102.75
There is a full calendar Thursday on both sides of the Atlantic, with both data and central bank speakers on the agenda. The calendar gets underway at 0745GMT, with the release of the November HICP data. At 0800GMT, ECB President Mario Draghi participates a in debate on the ECB's Annual Report, at the European Parliament in Strasbourg. The SNB announces its latest interest rate decision, along with updated economic forecasts, at 0830GMT. There is further data on the calendar at 0900GMT, when both the ECB monthly report and the Italian November final HICP numbers will be published. The ECB's monthly report is expected to mirror the statement read by Mario Draghi at the December press conference. At 1000GMT, the EMU October industrial output data will be published. At the same time, ECB Governing Council member Erkki Liikanen will hold a press conference on the economic outlook, in Helsinki. At 1415GMT, ECB Executive Board member Joerg Asmussen will deliver a press conference on the EU/ESCB cooperation project with the National Bank of Serbia, in Belgrade.
(pare/closed(00:00 GMT +02:00)/change, %)
EUR/USD $1,3784 +0,17%
GBP/USD $1,6372 -0,43%
USD/CHF Chf0,8903 +0,34%
USD/JPY Y103,27 +0,42%
EUR/JPY Y141,87 +0,26%
GBP/JPY Y169,63 +0,32%
AUD/USD $0,9110 -0,43%
NZD/USD $0,8282 -0,34%
USD/CAD C$1,0588 -0,12%
00:00 Australia Consumer Inflation Expectation December +1.9%
00:10 New Zealand RBNZ Governor Graeme Wheeler Speaks
00:30 Australia Unemployment rate November 5.7% 5.8%
00:30 Australia Changing the number of employed November 1.1 10.3
08:00 Eurozone ECB President Mario Draghi Speaks
08:30 Switzerland SNB Interest Rate Decision 0.25% 0.25%
08:30 Switzerland SNB Monetary Policy Assessment
08:30 Switzerland SNB Press Conference
09:00 Eurozone ECB Monthly Report December
10:00 Eurozone Industrial production, (MoM) October -0.5% +0.4%
10:00 Eurozone Industrial Production (YoY) October +1.1% +1.1%
13:30 Canada New Housing Price Index October 0.0% +0.3%
13:30 U.S. Retail sales November +0.4% +0.6%
13:30 U.S. Retail sales excluding auto November +0.2% +0.2%
13:30 U.S. Initial Jobless Claims December 298 321
13:30 U.S. Import Price Index November -0.7% -0.7%
15:00 U.S. Business inventories October +0.6% +0.5%
18:05 Canada BOC Gov Stephen Poloz Speaks
21:30 New Zealand Business NZ PMI November 55.7