The euro exchange rate against the dollar has increased markedly , thus restoring all previously lost ground, which was associated with comments Vice President of the ECB Vitor Constancio , who said that the possibility of introducing a program of QE by the Central Bank in order to stimulate growth in the euro zone has not been discussed in the Governing Council, but it was mentioned as potential options .
Note that the ECB has not wanted to use the bond purchases as a means of stimulating growth , but Peter Ready , chief economist at the central bank , in an interview last week said that they are possible . " The balance of the central bank can also be used ," - he said.
Meanwhile, Constancio also said that he had nothing to add to what I said ECB Governing Council member Peter Praet on the matter, namely, that the Central Bank may start buying assets in order to raise the current level of inflation to the target level of 2%.
"It was only mentioned as a possibility , nothing more ", - assured Constancio , adding that the decision to start talking about the introduction of QE is based on the opinion of the Governing Board regarding inflation and its prospects . "
In addition, the vice president of administration was concerned about the possibility of negative interest rates on deposits , recognizing , however, that " any political solution always has its pros and cons. There is no perfect solution, there is always a difficulty . "
The pound strengthened against the dollar , rising at the same time to the maximum session , due to the expectations of tomorrow's publication of minutes of meetings of the Bank of England. It should be noted that during the last meeting of the Bank of England did not bring any surprises markets , leaving the key lending rate at a record low 0.5 %, where it has been since March 2009 , while the purchase of assets remained at £ 375 billion the central bank announced its intention to keep rates low for as long as the rate b / d in Britain will not fall below 7% , which is not expected before 2016.
Japan's leading economic index strengthened in September, but at a slower than initially estimated pace, final data from the Cabinet Office showed Tuesday.
The leading index that is designed to measure changes in the direction of the economy rose to 109.2 in September from 106.8 in August. The preliminary reading for September was 109.5.
The coincident economic index, which measures the current economic situation, improved to 108.4 from 107.6 in the prior month. The September reading was revised up from 108.2.
The lagging index, which gauges the past performance of the economy, remained unchanged at 114.0 in September. The initial estimate for September was 115.1.
Eurozone's construction output declined in September for the first time in six months, data released by Eurostat showed on Tuesday.
Construction output decreased a seasonally adjusted 1.3 percent from August, when it grew 0.3 percent, which was downwardly revised from 0.5 percent. The latest fall was the first since March.
Year-on-year, construction output dropped a working-day adjusted 0.2 percent in September, following a 1.3 percent slump in August. It was the seventh monthly decline in a row.
In the third quarter, construction output grew 1.9 percent sequentially, same as in the second quarter. Output increased for the second straight quarter. On an annual basis, output declined 1.7 percent in the third quarter, after decreasing 4 percent in the second quarter.
Construction output fell 1.3 percent monthly in the EU 28, after declining 0.2 percent in the previous month. Yearly, output increased 0.2 percent, reversing a 0.2 percent fall in August.
In the third quarter, output increased 2.1 percent sequentially, following a 1.3 gain in the previous three months. The annual fall was 0.6 percent, after a 3.8 percent slump in the previous quarter.
USD/JPY Y98.75, Y99.30, Y99.55, Y99.70-75, Y100.00, Y100.60, Y100.75, Y101.00
EUR/JPY Y134.50, Y135.00
EUR/USD $1.3400, $1.3465, $1.3470, $1.3480, $1.3490, $1.3500, $1.3510
GBP/USD $1.5975, $1.5995, $1.6100
EUR/GBP stg0.8435
AUD/USD Y93.25, Y93.30, $0.9340, $0.9370, $0.9400
AUD/JPY Y93.00, Y93.90, Y9400
NZD/USD $0.8350
USD/CAD C$1.0500
EUR/USD
Offers $1.3650, $1.3615/20, $1.3600, $1.3565/70, $1.3550
Bids $1.3495/90, $1.3480/70, $1.3450
GBP/USD
Offers $1.6200/10,$1.6180, $1.6160/65, $1.6150
Bids $1.6085/80, $1.6070, $1.6050/45, $1.6030, $1.6015/00
AUD/USD
Offers $0.9500, $0.9480, $0.9450
Bids $0.9380, $0.9350, $0.9325/20, $0.9300
EUR/GBP
Offers stg0.8500, stg0.8475/80, stg0.8440, stg0.8415/20, stg0.8400
Bids stg0.8340, stg0.8325/20, stg0.8300
EUR/JPY
Offers Y136.50, Y136.00, Y135.50, Y135.20
Bids Y134.20/00, Y133.50
USD/JPY
Offers Y100.80, Y100.50, Y100.20, Y100.00
Bids Y99.50, Y99.40/20, Y99.00, Y98.50
An index measuring the outlook for the Australian economy moved up 0.3 percent in September, the Conference Board revealed on Tuesday, following the 0.2 percent contraction in August and the 0.2 percent gain in July.
The board's coincident index added 0.1 percent following no change in the previous two months.
The leading index is continuing a slight upward trend, the Conference Board said, while the coincident index has shown little movement through the last six months.
Through the last six months, the leading index had added 0.6 percent, while the coincident has gained 0.2 percent.
The ZEW
Indicator of Economic Sentiment for
The latest
reading is the highest since October 2009, ZEW said.
"Economic
expectations for
Meanwhile,
the current conditions index dropped to 28.7 from 29.7, in contrast to
expectations of an improvement to 31.
Economic
expectations for the Eurozone have slightly increased in November, with the
corresponding index climbing to 60.2 from 59.1. The indicator for the current
economic situation shed 0.7 points to a level of minus 61.6.
USD/JPY Y98.75, Y99.30, Y99.55, Y99.70-75, Y100.00, Y100.60, Y100.75, Y101.00
EUR/JPY Y135.00
EUR/USD $1.3400, $1.3465, $1.3470, $1.3480, $1.3490
GBP/USD $1.5975, $1.5995, $1.6100
EUR/GBP stg0.8435
AUD/USD Y93.25, Y93.30, $0.9340, $0.9370, $0.9400
AUD/JPY Y93.00, Y93.90, Y9400
NZD/USD $0.8350
USD/CAD C$1.0500
00:30 Australia RBA Meeting's Minutes
The U.S. Dollar Index approached its lowest in more than a week after New York Fed President William C. Dudley said yesterday he’s more hopeful about the economy while indicating no change in bond buying. “While growth in 2013 has been disappointing, I believe a good case can be made that the pace of growth will pick up some in 2014 and then somewhat more in 2015,” Dudley said yesterday. “As growth picks up, I expect to see more substantial improvement in labor market conditions.”
Australia’s currency held a two-day gain as minutes of its central bank’s meeting showed policy makers saw “mounting evidence” interest-rate cuts were working. Reserve Bank of Australia policy makers said it was “prudent” to keep the cash rate steady while gauging the impact of previous easing, according to minutes of the central bank’s Nov. 5 meeting released today.
The euro was near a two-week high before a report forecast to show German investor confidence increased. The ZEW Center for European Economic Research will probably say its index of German investor and analyst expectations, which aims to predict economic developments six months in advance, rose to 54 in November from 52.8 the previous month, according to a Bloomberg survey of economists. That would be the highest since October 2009.
EUR / USD: during the Asian session the pair traded in the range of $ 1.3495-25
GBP / USD: during the Asian session, the pair traded in the range of $ 1.6095-25
USD / JPY: during the Asian session the pair fell to the level of Y99.55
There is a full calendar on both sides of the Atlantic Tuesday, with both data and central bank speakers slated. The European calendar gets underway at 0700GMT, when the October ACEA new car registration data will be published. At 0800GMT, ECB Governing Council member Ewald Nowotny will give a speech on financial cycles in Vienna. At 0830GMT, European Banking Authority Chair Andrea Enria takes part in a discussion on bank regulation, in Frankfurt. ECB Executive Board member Peter Praet will deliver a speech on policymaking in a challenging environment, in Frankfurt at 0830GMT. Further European data is set for 0900GMT, when the Italian September industrial orders data are due. The main European data release comes at 1000GMT, when the German November ZEW survey crosses the wire. EMU data comes at 1000GMT, when the September construction output numbers are set for release, with the OECD economic outlook numbers released at 1100GMT. ECB Executive Board member Joerg Asmussen will take part in a discussion on perspectives for Europe, in Berlin at 1115GMT. At 1300GMT, Bundesbank Board member Andreas Dombret will give a speech on regulation in Frankfurt. At 1315GMT, he will sit on a panel discussing regulation and unintended Consequences, in Frankfurt. Back in Europe, at 1545GMT, ECB Vice-President Vitor Constancio, ESM Managing Director Klaus Regling and EFC President Thomas Wieser take part in a discussion on the banking system, also in Frankfurt.
(pare/closed(00:00 GMT +02:00)/change, %)
EUR/USD $1,3504 +0,10%
GBP/USD $1,6108 -0,02%
USD/CHF Chf0,9127 -0,01%
USD/JPY Y99,99 -0,21%
EUR/JPY Y135,03 -0,11%
GBP/JPY Y161,04 -0,26%
AUD/USD $0,9376 +0,06%
NZD/USD $0,8334 -0,04%
USD/CAD C$1,0427 -0,17%
00:30 Australia RBA Meeting's Minutes
10:00 Eurozone ZEW Economic Sentiment November 59.1 63.1
10:00 Eurozone Construction Output, m/m September +0.5%
10:00 Eurozone Construction Output, y/y September -4.7%
10:00 Eurozone OECD Economic Outlook November
10:00 Germany ZEW Survey - Economic Sentiment November 52.8 54.6
13:30 U.S. Employment Cost Index Quarter III +0.5% +0.5%
13:45 U.S. Treasury Sec Lew Speaks
15:00 U.S. FOMC Member Dudley Speak
19:15 U.S. FOMC Member Charles Evans Speaks
21:30 U.S. API Crude Oil Inventories November +0.6
21:45 New Zealand PPI Input (QoQ) Quarter III +0.6% +0.8%
21:45 New Zealand PPI Output (QoQ) Quarter III +1.0% +0.9%
22:45 Canada Gov Council Member Murray Speaks
23:30 Australia Leading Index September -0.1%
23:50 Japan Adjusted Merchandise Trade Balance, bln October -1091.3 -875.5