The euro rose against the U.S. dollar , offsetting losses incurred earlier . Pressure on the dollar was potrebdoveriyu data in the United States . Recent data from the Conference Board showed that consumer confidence index , which fell sharply in October , continued its deterioration and in November. Index currently is 70.4 points ( 1985 = 100 ) as compared with 72.4 point in October. Note that the current situation index fell to 72.0 from 72.6 , while the expectations index fell to 69.3 from 72.2 .
Earlier, the U.S. dollar was supported by data on the U.S. housing market . Housing prices in 20 metropolitan areas in the U.S. for the 12 months ending in September increased the most since February 2006 , signaling the improvement in the glimpses of the housing market , the number of building permits in October rose more than expected - at 6, 2%. It should be noted that the output data began construction was postponed to December 18 due to the fact that the 16-day simple government agencies prevented timely collect statistics .
Note that in the course of trade also affected by the representative of the ECB Benoit Kere , who noted that the Governing Council discussed the likelihood of negative interest rates on deposits , so this option is not excluded. " We have made clear that this option was discussed , so that the ECB is ready to do it ," said Ker , adding that this is just another one of the tools of the Central Bank . ECB assured that he is not afraid of deflation in the euro area since the restoration of growth and expects a gradual increase in inflation to the target level of 2%.
Previously pound weakened against the dollar after the statements of representatives of the Bank of England . Bank of England Carney , who spoke today at the Ministry of Finance , reiterated that the decline rates b / d to 7% will not trigger an automatic increase rate securities .
He noted that "the policy prozrachnoti " this is just politics clarify the conditions under which markets the Bank of England will begin to consider the option of raising rates , which gives the players , companies and households more certainty .
" We are not going to undermine the economic recovery , tightening ahead of time ," adding that it is very difficult to predict how the situation will develop with unemployment.
Nevertheless , the head of the Central Bank welcomed the recent recovery in the labor market in Britain, which , in his opinion , is a sign that the economy is gaining momentum. However, he stressed that the drawdown of the British economy should not be underestimated , as well as downside risks to the outlook for the eurozone economy , which could damage Britain.
Another topic that was discussed at the hearing , it is a request of the Ministry of Finance to the Bank of England to rethink leverage ratio for British banks. Carney found it necessary to maintain the financial sector in Britain and said that the new rules should be introduced for 9 months.
USD/JPY Y100.00, Y100.15, Y100.20, Y100.25, Y100.40, Y100.50, Y100.70, Y101.00
EUR/USD $1.3400, $1.3425, $1.3450, $1.3470, $1.3500, $1.3505, $1.3525, $1.3550, $1.3590, $1.3600
GBP/USD $1.6100
EUR/CHF Chf1.2420
NZD/USD $0.8330
USD/CAD C$1.0500, C$1.0555
Data
10:00 UK BOE Mark Carney Speech
10:00 UK Member Monetary Policy Committee Charles Bean Speech
10:00 UK BoE chief economist Spencer Dale Speech
10:00 UK Member Monetary Policy Committee of the Bank of England B. Broadbent Speech
10:00 UK Hearings on inflation in Parliament III quarter
The euro exchange rate against the dollar has grown significantly , due to the expectations of the publication of reports on the United States. Note that today, the U.S. Commerce Department reports the number of permits requested in September and October. Publication of the report was postponed due to a partial stop government. Reports on housing starts in October were originally planned for publication on November 19 , while the data for September were to be known on October 17. Stop the government, which lasted from October 1 to October 16 , is not allowed to collect data . The latest report on the construction of houses showed that in August builders requested 627,000 permits for new single-family homes on an annualized basis . It was 3% higher than July and the best pace since May 2008.
Also, the market's attention today is aimed at performance member of the board of the European Central Bank's Joerg Asmussen ( at 18:00 GMT), said earlier about the possibility of reduction of deposit rates to negative levels.
Note that in the course of trade also affected by the representative of the ECB Cara Benoit , who noted that the Governing Council discussed the likelihood of negative interest rates on deposits , so this option is not excluded.
" We have made clear that this option was discussed , so that the ECB is ready to do it ," said Cair , adding that this is just another one of the tools of the Central Bank . ECB assured that he is not afraid of deflation in the euro area since the restoration of growth and expects a gradual increase in inflation to the target level of 2%.
Pound traded lower against the dollar , despite the significant growth in the first half of the session . Note that initially the strengthening of the British currency was associated with the release of the expectations of inflation. But statements by representatives of the Bank of England have put pressure on the pound , against which he has fallen sharply.
Bank of England Carney , who spoke today at the Ministry of Finance , reiterated that the decline rates b / d to 7% will not trigger an automatic increase rate securities .
He noted that "the policy prozrachnoti " this is just politics clarify the conditions under which markets the Bank of England will begin to consider the option of raising rates , which gives the players , companies and households more certainty .
" We are not going to undermine the economic recovery , tightening ahead of time, adding that it is very difficult to predict how the situation will develop with unemployment.
Nevertheless , the head of the Central Bank welcomed the recent recovery in the labor market in Britain, which , in his opinion , is a sign that the economy is gaining momentum. However, he stressed that the drawdown of the British economy should not be underestimated , as well as downside risks to the outlook for the eurozone economy , which could damage Britain.
Another topic that was discussed at the hearing , it is a request of the Ministry of Finance to the Bank of England to rethink leverage ratio for British banks. Carney found it necessary to maintain the financial sector in Britain and said that the new rules should be introduced for 9 months.
EUR / USD: during the European session, the pair rose to $ 1.3572 , but later decreased slightly
GBP / USD: during the European session, the pair rose to $ 1.6194 , but then fell to $ 1.6149
USD / JPY: during the European session, the pair fell to Y101.33
At 13:30 GMT the United States will announce the amount of building permits issued in September and October , as well as including Housing Starts in September and October. At 14:00 GMT the U.S. will release the index of home prices in 20 major cities and the S & P composite index of national housing prices S & P in September. At 15:00 GMT the United States will present indicator of consumer confidence for November. At 21:45 GMT New Zealand will report on the trade balance for October.
EUR/USD
Offers $1.3690/700, $1.3660/65, $1.3650, $1.3620/30, $1.3585-600
Bids $1.3530/20, $1.3516, $1.3510/00, $1.3490/80, $1.3460/50
GBP/USD
Offers $1.6320/30, $1.6300, $1.6280, $1.6241, $1.6215/20, $1.6190/200, $1.6194
Bids $1.6160, $1.6146, $1.6134, $1.6110/00, $1.6072
AUD/USD
Offers $0.9320, $0.9300, $0.9240/50, $0.9220, $0.9175/80
Bids $0.9120, $0.9100, $0.9080, $0.9050, $0.9000
EUR/GBP
Offers stg0.8440, stg0.8430, stg0.8415/20, stg0.8395/400, stg0.8380/85
Bids stg0.8358, stg0.8345/40, stg0.8300, stg0.8285
EUR/JPY
Offers Y138.50, Y138.20, Y138.00, Y137.68/75
Bids Y137.00, Y136.50, Y136.00, Y135.80
USD/JPY
Offers Y102.50, Y102.25, Y102.00, Y101.92 25
Bids Y101.20, Y101.00, Y100.95/91, Y100.80
USD/JPY Y100.00, Y100.15, Y100.20, Y100.25, Y100.40, Y100.50, Y100.70, Y101.00
EUR/USD $1.3400, $1.3425, $1.3450, $1.3470, $1.3500, $1.3505, $1.3525, $1.3550, $1.3590, $1.3600
GBP/USD $1.6100
EUR/CHF Chf1.2420
NZD/USD $0.8330
USD/CAD C$1.0500, C$1.0555
The yen was supported after minutes of the BOJ’s October meeting published today showed one member said it was ``highly uncertain'' whether inflation would rise toward the 2 percent target. Central bank board member Sayuri Shirai proposed adding “attention should be paid to the downside risks” to the bank’s outlook report as “there was a high degree of uncertainty regarding developments in overseas economies and households’ employment and income situation,” the BOJ minutes showed.
The euro strengthened after China’s central bank governor said the currency is important to his nation’s reserve management. European Central Bank Executive Board member Joerg Asmussen, who has said negative deposit rates are a possible tool, will speak today. He said on Nov. 23 he wouldn’t fundamentally exclude setting a negative deposit rate and that the central bank will continue to act if necessary to ensure price stability. Council member Ardo Hansson said in an interview in Tallinn on Nov. 22 that the Frankfurt-based central bank’s “options on rate cuts are still not fully exhausted and there are all kinds of other measures that are still on the table.”
Australia’s dollar rose after Reserve Bank Deputy Governor Philip Lowe said the bar for intervention is high. “We don’t rule intervention in or out, that’s been a long-standing practice,” the RBA’s Lowe said in response to an audience question following a speech in Sydney today. “In the past, we have been prepared to intervene in the currency market when it’s clear the currency was misaligned or the market wasn’t working well. The threshold for intervention though is fairly high.”
EUR / USD: during the Asian session, the pair rose to $ 1.3540
GBP / USD: during the Asian session, the pair rose is trading around the level of $ 1.6160
USD / JPY: during the Asian session, the pair fell to Y101.30
Although there is a fairly full calendar Tuesday, particularly in the US, data is largely second tier. The European calendar kicks off at 0745GMT, when the French October housing starts and building permits data are released. At 0900GMT, the Italian November ISTAT consumer confidence data will cross the wires. Analysts see confidence coming in at 97.5, up from 97.3 in October.
(pare/closed(00:00 GMT +02:00)/change, %)
EUR/USD $1,3515 -0,25%
GBP/USD $1,6154 -0,38%
USD/CHF Chf0,9116 +0,48%
USD/JPY Y101,66 +0,33%
EUR/JPY Y137,40 +0,09%
GBP/JPY Y164,21 -0,05%
AUD/USD $0,9159 -0,07%
NZD/USD $0,8208 +0,22%
USD/CAD C$1,0541 +0,18%
07:00 United Kingdom Nationwide house price index November +1.0% +0.6%
07:00 United Kingdom Nationwide house price index, y/y November +5.8% +6.2%
10:00 United Kingdom BOE Gov Mark Carney Speaks
10:00 United Kingdom MPC Member Bean Speaks
10:00 United Kingdom BOE Chief Economist Spencer Dale Speaks
10:00 United Kingdom MPC Member Dr Ben Broadbent Speaks
10:00 United Kingdom Inflation Report Hearings Quarter III
13:30 U.S. Housing Starts, mln September 0.891 0.910
13:30 U.S. Housing Starts, mln October 0.921
13:30 U.S. Building Permits, mln September 0.918 0.940
13:30 U.S. Building Permits, mln October 0.934
14:00 U.S. S&P/Case-Shiller Home Price Indices, y/y September +12.8% +13.0%
15:00 U.S. Richmond Fed Manufacturing Index November 1 3
15:00 U.S. Consumer confidence November 71.2 72.2
21:30 U.S. API Crude Oil Inventories November +0.5
21:45 New Zealand Trade Balance, mln October -345 -199