Euro fell against the dollar, which was associated with the release of data for Germany and the revision of global growth forecasts by the World Bank . Report on Germany showed that GDP growth slowed in 2013 due to uncertainty stemming from the eurozone crisis . Germany 's gross domestic product adjusted for inflation increased by 0.4 % in 2013 after rising 0.7 % the previous year . Household consumption in the euro zone 's largest economy in 2013 increased by 0.9 % , while government consumption rose by 1.1%. Export growth was 0.6 % in 2013 , compared with 3.2 % in the previous year .

Meanwhile, adding that the World Bank raised its forecast for global economic growth in 2014-2015 . According to forecasts , this year, the world economy will grow by 3.2% compared to the June forecast growth of 3%. The Bank expects that in 2015 global growth to reach 3.4 % compared with 3.3% projected in June. Prediction for the richest countries was revised to 2.2% from 2% . In the U.S., growth will accelerate to 2.8 % this year , while Japan's GDP will be 1.4 %. This year, the eurozone economy is expected to increase to 1.1% compared with 0.9 % reported by the World Bank in June.

Moreover, we note that a small influence on the bidding had U.S. data , which showed that the producer price index rose a seasonally adjusted 0.4% in November , led by a jump in energy prices. This happened after declining for two consecutive months , and marked the biggest increase since June. However , producer prices for the entire 2013 rose by only 1.2% , it is the smallest annual growth rate since calendar 2008. Main producer prices , which exclude volatile prices for food and energy , increased by 0.3% from November and 1.4 % for the whole 2013 .

Growth last month was lower than the forecast of economists expect an increase in overall prices by 0.5% , while the growth of the base prices was above forecasts of 0.1 %.

Dollar growth expectations also help review publication of the U.S. economy from the Federal Reserve . Today American Central Bank will publish the traditional macroeconomic overview , which is called Beige Book (" Beige Book " ) .

Pound declined significantly against the dollar, which was associated with the release of positive U.S. data . As we learned from the industry survey from the Federal Reserve Bank of New York, business activity in New York rose much more sharply than in recent months. The overall index of business conditions in January rose 10 points to 12.5 , its highest level in more than a year (since May 2012 ) . This month, 35% of respondents reported that conditions have improved over the last month , and 22% - that have deteriorated .

The new orders index rose 13 points to 11.0 - a two-year maximum. Delivery index rose 11 points to 15.5 . Index of orders remained in negative territory, -8.5 . Delivery time index changed little , remaining at -8.5 . Index of stocks rose by 2.4 points to 24 - more than offsetting the sharp decline in the last month . Indices of purchase prices and sales prices have risen significantly , which shows an increase of price pressure . Paid index rose 21 points to 36.6 - the highest value in more than a year, which shows a steady increase in purchase prices . Price Index rose 10 points to 13.4 , indicating that selling prices are also rising . Employment indices indicate an improvement in labor market conditions . Index number of employees rose by 12 points to 12.2 , the index of the average workweek rose to 1.2 .

The course of trading statements also influenced the Bank of England Governor Mark Carney before the Special Committee of the Treasury. Carney and other members of the Committee on Financial Policy to answer questions relating to a recent report on financial stability . In his reply to a question about the problem of bank restructuring Carney stressed the importance of using sheathe economic business model for financial institutions. "Simple disbanding Institute does not guarantee a viable or more competitive structure ", - he said. CB Head also assured that the expiry funding bank lending (FLS), aimed at encouraging lending to households by banks , will not be a problem , and , according to research , " financing conditions for commercial lenders look very favorably ." On the question of the likelihood of a rate hike Central Bank chief said that the sharp increase in the cost of credit should not be expected .

European stocks advanced, with the benchmark Stoxx Europe 600 Index reaching its highest close in six years, after the World Bank raised its global growth forecast.

The Stoxx 600 climbed 1 percent to 334.48 at 4:38 p.m. in London, the highest since January 2008. The index rallied 1.9 percent in the past four days.

The World Bank increased its global growth forecasts, predicting the economy will expand 3.2 percent this year. That compares with a June projection of 3 percent and is up from 2.4 percent in 2013. The Washington-based lender raised the estimate for the richest nations to 2.2 percent from 2 percent. Part of the increase reflects improvement in the 18-nation euro area, and the U.S. growing twice as fast as Japan.

A U.S. report showed that manufacturing in New York, northern New Jersey and southern Connecticut grew at a faster pace than projected this month. The Federal Reserve Bank of New York’s general economic index rose to 12.51 in January, up from a revised 2.22 last month. That beat the median economist forecast that called for an increase to 3.5.

Separately, the Fed will release its Beige Book business survey, which contains anecdotal reports on the economy from its 12 districts. The central bank, which next gathers Jan. 28-29, decided last month to begin trimming monthly bond purchases, citing improvement in the labor market.

National benchmark indexes advanced in all 18 western-European markets today except Iceland.

FTSE 100 6,819.86 +53.00 +0.78% CAC 40 4,332.07 +57.87 +1.35% DAX 9,733.81 +193.30 +2.03%

Burberry jumped 4.4 percent to 1,534 pence. Retail revenue advanced 14 percent to 528 million pounds ($866 million) in the three months ended Dec. 31, compared with the 518 million pounds analysts had projected.

H&M climbed 2.7 percent to 291.80 kronor. Europe’s second-biggest clothing retailer posted a 10 percent increase in total sales in December, topping the 9.1 percent gain anticipated in a survey of analysts by SME Direkt.

Peugeot SA gained 3.7 percent to 11.37 euros and Daimler AG rose 2.9 percent to 65.50 euros, as a gauge of European carmakers posted the best performance of 19 industry groups in the Stoxx 600.

Chr. Hansen, the world’s biggest maker of dairy enzymes, dropped 4.8 percent to 200.60 kroner. Net income in the first quarter fell to 29.2 million euros, compared with the average analyst estimate for 33.7 million euros.

Hargreaves Lansdown Plc slipped 4.1 percent to 1,446 pence for its biggest drop since September. The U.K.’s biggest retail broker reduced its fees for client investments, saying it negotiated with fund managers to cut their annual management charges for its top 150 funds to about 0.65 percent compared with an industry standard of 0.76 percent.

Oil prices have risen markedly today , after a government report showed that U.S. crude inventories fell last week to the lowest level in nearly 22 months.

According to the Department of Energy on changes in stocks in the week January 6-12 :

- Oil reserves fell by 7.658 million barrels to 350.234 million barrels ;

- Gasoline inventories increased by 6,183 million barrels . to 233.142 million barrels . ;

- Distillate stocks fell by 1.023 million barrels . to 123.95 million barrels .

- Refining capacity utilization rate 90.0 % versus 92.3 % a week earlier .

" Gasoline inventories increased significantly for several weeks , and there is no demand in the market needed to reduce them ," - said analyst Gene McGillian Tradition Energy .

We also recall that yesterday its data on oil provided Petroleum Institute API. They showed :

- Capacity utilization in the week 90.1% against 92.7 %

- Distillate stocks last week 1.7 million barrels

- Gasoline inventories last week 5.4 million barrels

- Oil reserves for the week 4.1 million barrels

At the same time, investors in the oil market have paid attention to the forecast for the development of BP World Energy Outlook to 2035 , according to which the world energy consumption will grow from 2012 to 2035 by 41% compared with 55 % for the last 23 years and 30 % over the past ten years.

It should also be noted that the forecast of the country 's largest oil company, China National Petroleum Corp, in 2014 , oil demand in China will grow by 4 % - to 518 million tons of fuel - by 4.8% to 300 million tons. This year, demand for oil in China will increase by 4 % Net oil imports in China will rise by 7.1 % - to 298 million, and the country's dependence on oil imports was 58.5 %.

According to the expectations CNPC, processing volumes increase by 6.5% - to 668 million tons , oil production - by 5.1 % , to 509 million barrels. Production of gasoline will increase by 7 % - to 106 million tons, diesel fuel - by 4.5 % to 180 million tons, kerosene - by 9 % to 27.26 million tons. Fuel exports from China will grow next year by more than 30 %.

Gas demand in China will increase by 11 % - up to 186 billion cubic meters , the volume of imports through pipelines - by 17.9 %, to 33 billion cubic meters, and LNG supply - by 20%, to 30 billion cubic meters.

The course of trade also affected the U.S. data , which showed that the manufacturing index in the Fed of New York has grown significantly in January compared with the previous month . According to the data , the manufacturing index in January rose to 12.51 against 2.22 in December. December's initial value was at 0.98 points. Economists expected the index to rise to only 3.2 points. All sub- indices rose compared with the previous month and were in positive territory.

February futures price of U.S. light crude oil WTI (Light Sweet Crude Oil) rose to $94.35 per barrel.

February futures price for North Sea Brent crude oil mixture rose $1.10 to $107.25 a barrel on the London exchange ICE Futures Europe.

Gold traded down though and could recover some of the previously lost positions as strong U.S. data and optimistic outlook for global economic growth caused a rise in the dollar and stocks, which put pressure on the metal.

As it became known , the U.S. producer price index rose a seasonally adjusted 0.4% in November , led by a jump in energy prices. This happened after declining for two consecutive months , and marked the biggest increase since June. However , producer prices for the entire 2013 rose by only 1.2% , it is the smallest annual growth rate since calendar 2008. Main producer prices , which exclude volatile prices for food and energy , increased by 0.3% from November and 1.4 % for the whole 2013 . Growth last month was lower than the forecast of economists expect an increase in overall prices by 0.5% , while the growth of the base prices was above forecasts of 0.1 %.

" The gold market is largely dependent on U.S. economic data , because they directly affect the forecast reduction ( Fed stimulus .) Report on retail sales was good, but the main event will be the Fed meeting later this month ," - said precious metals trader in Hong Kong.

On the price of gold is also influenced by the report of the World Bank , which raises forecasts for global economic growth , stating that the weakening of fiscal consolidation measures in countries with high income increased growth prospects.

Presenting its latest report on global economic prospects , the lender said it now expects that the global economy will grow by 3.2 percent this year , which was a little more than forecast at 3.0 percent, which was mentioned in the June report . It's also better than expected growth of 2.4 percent in 2013 . Much of this improvement reflects the growth in high -income countries, the bank said . In 2015, global gross domestic product will grow by 3.4 percent , which is slightly faster than the 3.3 percent that had been projected earlier. In addition , another report showed that the gold reserves in SPDR Gold Trust, fell on Tuesday by 3.56 tons - up to 789.56 tons , reaching a five-year low at the same time .

We also add that analysts banks Goldman Sachs and Credit Suisse advised to sell gold because, in their opinion, now is the best strategy game on the commodity markets . Their outlook - falling gold prices to $ 1,050 an ounce by the end of 2014. Analysts banks Commerzbank and Citibank different opinion . The upside of gold they appreciate in 1300-1400 dollars per ounce.

Cost February gold futures on the COMEX today dropped to $ 1241.00 per ounce.

U.S. stock futures climbed, as the World Bank raised its global growth forecast and data indicated manufacturing in the New York region expanded.

Global markets:

Nikkei 15,808.73 +386.33 +2.50%

Hang Seng 22,902 +110.72 +0.49%

Shanghai Composite 2,023.35 -3.49 -0.17%

FTSE 6,812.01 +45.15 +0.67%

CAC 4,302.43 +28.23 +0.66%

DAX 9,673.73 +133.22 +1.40%

Crude oil $92.73 (+0.15%)

Gold $1236.50 (-0.71%).

EUR/USD $1.3500, $1.3590, $1.3600, $1.3700, $1.3750, $1.3800

USD/JPY Y103.20, Y104.00, Y104.65, Y104.80, Y105.00/05, Y105.50, Y106.00, Y106.50

EUR/JPY Y143.00

EUR/GBP stg0.8300

USD/CHF Chf0.9050

EUR/CHF Chf1.2370

AUD/USD $0.8925, $0.8950, $0.9000, $0.9075, $0.9120

USD/CAD C$1.0875, C$1.0900

08:15 Switzerland Retail Sales Y/Y November +1.6% Revised From +1.2% +2.3% +4.2%

10:00 Eurozone Trade Balance s.a. November 14.3 Revised From 14.5 16.7 16.0

Euro fell against the U.S. dollar under pressure data on the GDP of Germany . German economic growth slowed in 2013 due to uncertainty stemming from the eurozone crisis , the Federal Statistical Office Destatis Wednesday.

Germany 's gross domestic product adjusted for inflation increased by 0.4 % in 2013 after rising 0.7 % in the previous year, said Destatis.

"It seems that the crisis in the euro zone slowed the German economy ," - said President Roderick Destatis Egger at a press conference , adding that domestic demand could not fully compensate for the slowdown .

Household consumption in the euro zone 's largest economy in 2013 increased by 0.9 % , while government consumption rose by 1.1%. Export growth was 0.6 % in 2013 , compared with 3.2 % in the previous year .

Also published data on the trade balance of the eurozone. Eurozone exports fell for the first time in four months in November , showed on Wednesday data published Eurostat. Exports fell by a seasonally adjusted 0.2 percent in the month dimension, followed by zero growth in October. At the same time , lowering the import deepened to 1.3 percent of 1 percent.

While imports fell more than exports , the trade surplus rose to a seasonally adjusted up to 16 billion euros from 14.3 billion euros in October. On the basis of unadjusted trade surplus amounted to 17.1 billion euros, compared with a surplus of 16.8 billion euros in October. Expected surplus in November totaled 16.5 billion euros.

The U.S. dollar strengthened against the major currencies against the fact that the World Bank raised its forecast for global economic growth in 2014-2015 . According to forecasts , this year, the world economy will grow by 3.2% compared to the June forecast growth of 3%. The Bank expects that in 2015 global growth to reach 3.4 % compared with 3.3% projected in June. Prediction for the richest countries was revised to 2.2% from 2% . In the U.S., growth will accelerate to 2.8 % this year , while Japan's GDP will be 1.4 %. This year, the eurozone economy is expected to increase to 1.1% compared with 0.9 % reported by the World Bank in June.

The British pound rose against the U.S. dollar despite the data from the Conference Board. A leading indicator of the UK economy grew fifth consecutive month in November , suggesting that the economy will continue to expand in the coming months .

The index of leading indicators rose 0.5 percent on a monthly measurement to 108.3 in November after rising 0.4 percent in October and 1.6 percent in September. Index currently registered positive growth for the fifth month in a row.

At the same time , the coincident index , which measures the current situation in the economy, increased by 0.2 percent sequentially to 105.7 in November. This followed growth of 0.1 percent in October and 0.5 percent increase in September.

During the six months ended in November , the index of leading indicators recorded a growth of 4.5 percent , while the coincident index remained unchanged.

"Widespread increased production and job growth , along with steady support from monetary policy will contribute to the restoration ," said Conference Board Chief Economist Bart van Ark .

EUR / USD: during the European session, the pair fell to $ 1.3603

GBP / USD: during the European session, the pair fell to $ 1.6375

USD / JPY: during the European session, the pair fell to Y104.21

At 13:30 GMT the United States will producer price index, producer price index excluding prices for food and energy in December , Empire Manufacturing manufacturing index for January. At 19:00 GMT the United States will take the Fed's economic survey article by region " Beige Book ." At 23:50 GMT , Japan will release the change in orders for machinery and equipment, the index of activity in the service sector in November.

European stocks advanced, with the benchmark Stoxx Europe 600 Index rising for a fourth day, after the World Bank raised its global growth forecast. U.S. stock-index futures were little changed, while Asian shares rose.

The Stoxx 600 climbed 0.5 percent to 332.90 at 9:36 a.m. in London, taking its four-day gain to 1.4 percent. The index closed at its highest level since May 2008 yesterday. Standard & Poor’s 500 Index futures rose 0.1 percent, while the MSCI Asia Pacific Index advanced 0.6 percent.

The World Bank increased its global growth forecasts, predicting the world economy will expand 3.2 percent this year. That compares with a June projection of 3 percent and is up from 2.4 percent in 2013. The Washington-based lender raised the estimate for the richest nations to 2.2 percent from 2 percent. Part of the increase reflects improvement in the 18-country euro area, and the U.S. growing twice as fast as Japan.

Separately, the Fed will release its Beige Book business survey, which contains anecdotal reports on the economy from its 12 districts. The central bank, which next gathers Jan. 28-29, decided last month to begin trimming monthly bond purchases, citing improvement in the labor market.

Burberry jumped 5.1 percent to 1,544 pence. Retail revenue advanced 14 percent to 528 million pounds ($866 million) in the three months ended Dec. 31, compared with the 518 million pounds analysts had projected.

Monte dei Paschi added 2 percent to 18.99 euro cents. Viola withdrew his resignation, and the board’s executives reiterated the need to raise capital as soon as possible, Monte dei Paschi said in a statement to the stock exchange in Milan.

Hennes & Mauritz AB climbed 2.2 percent to 290.40 kronor. Europe’s second-biggest clothing retailer posted a 10 percent increase in total sales in December, topping the 9.1 percent gain anticipated in a survey of analysts by SME Direkt.

Chr. Hansen, the world’s biggest maker of dairy enzymes, dropped 3.3 percent to 203.90 kroner. Net income in the first quarter fell to 29.2 million euros, compared with the average analyst estimate for 33.7 million euros.

FTSE 100 6,788.02 +21.16 +0.31%

CAC 40 4,296.59 +22.39 +0.52%

DAX 9,634.38 +93.87 +0.98%

EUR/USD $1.3500, $1.3590, $1.3600, $1.3700, $1.3750, $1.3800

USD/JPY Y103.20, Y104.00, Y104.65, Y104.80, Y105.00/05, Y105.50, Y106.00, Y106.50

EUR/JPY Y143.00

EUR/GBP stg0.8300

USD/CHF Chf0.9050

EUR/CHF Chf1.2370

AUD/USD $0.8925, $0.8950, $0.9000, $0.9075, $0.9120

USD/CAD C$1.0875, C$1.0900

Asian stocks fell, with the regional benchmark index poised to drop for a fourth day, as a report showed U.S. service industries expanded less than expected and raw-material shares led declines.

Nikkei 225 15,814.37 -94.51 -0.59%

S&P/ASX 200 5,316.99 -7.89 -0.15%

Shanghai Composite 2,044.44 -1.27 -0.06%

Sinopec Shanghai Petrochemical Co., an oil processor, slumped 5.9 percent, leading material shares lower.

Oversea-Chinese Banking Corp., Southeast Asia’s second-biggest lender, fell 0.8 percent in Singapore amid concern it may pay too much to take over Hong Kong’s Wing Hang Bank Ltd.

Li & Fung Ltd., the world’s largest supplier of clothes and toys to retailers, gained 8.5 percent in Hong Kong as the company called its 2013 performance “solid.”

00:30 Australia New Motor Vehicle Sales (MoM) December +1.8% +1.7%

00:30 Australia New Motor Vehicle Sales (YoY) December -0.5% +0.1%

02:00 China New Loans December 625 589 483

06:00 Japan Prelim Machine Tool Orders, y/y December +15.4% +28.0%

The dollar rebounded from a two-week low against the euro before the Federal Reserve releases its Beige Book business survey.

The Bloomberg Dollar Spot Index gained yesterday by the most in four weeks after two voting members of the Federal Open Market Committee called for the central bank to continue paring asset purchases even after data on Jan. 10 showed job creation was slower than economists estimated. Philadelphia Fed President Charles Plosser said yesterday he would prefer to end the central bank’s quantitative easing before late 2014. Dallas Fed President Richard Fisher said he would aim to eliminate the program entirely “at the earliest practicable date.”

Their comments followed a government report on Jan. 10 that showed U.S. employers added fewer workers in December than the most pessimistic forecast in a Bloomberg News survey of economists.

Two more regional Fed chiefs, Charles Evans from Chicago and Dennis Lockhart from Atlanta, will speak today. Neither are FOMC voting members this year.

The World Bank raised its global growth forecast yesterday to 3.2 percent this year from a June estimate of 3 percent. The Washington-based lender maintained its projection for the U.S. economy to expand 2.8 percent, a one percentage point acceleration from 2013. “Carry trades will pick up,” said Mitul Kotecha, the global head of currency strategy in Hong Kong at Credit Agricole Corporate & Investment Bank SA. “You’re going to see yield differentials widen further, particularly against the yen, and I think the yen will increasingly be used as a funding currency.”

EUR / USD: during the Asian session the pair fell to $ 1.3625

GBP / USD: during the Asian session the pair fell to $ 1.6410

USD / JPY: during the Asian session, the pair rose to Y104.50

There is a full calendar on both sides of the Atlantic Wednesday, with a string of data and central bank speakers. The European calendar gets underway at 0800GMT, when the German Destatis office will release the 2013 GDP data. Full year GDP is seen higher by 0.5% on year. Further European inflation data is set for release at 0800GMT, when the Spanish final December HICP numbers will cross the wires. At 0815GMT, the Swiss November retail sales numbers will be published. Central bank speakers kick off at 0820GMT, when Bank of Lithuania Gov. Vitas Vasiliauskas speaks in Vienna. At 1000GMT, the EMU November trade balance data will be released, with analysts looking for a E14.8 bn, up from E14.5 bn in October. ECB Executive Board member Yves Mersch will speak on "How bank unit will reinforce the monetary unit", while Bundesbank Board member Carl-Ludwig Thiele to speak on Euro success stories, with the event starting at 1300GMT.

Gold  $1,242.70 -8.40$ -0.67%

Oil  $92.57 +0.77$ +0.84%

Nikkei 225 15,422.4 -489.66 -3.08%

Hang Seng 22,796.16 -92.60 -0.40%

S&P/ASX 200 5,212.05 -80.03 -1.51%

Shanghai Composite 2,026.84 +17.28 +0.86%

FTSE 100 6,766.86 +9.71 +0.14%

CAC 40 4,274.2 +10.93 +0.26%

DAX 9,540.51 +30.34 +0.32%

Dow +115.53 16,373.47 +0.71%

Nasdaq +69.71 4,183.02 +1.69%

S&P +19.57 1,838.77 +1.08%

(pare/closed(00:00 GMT +02:00)/change, %)

EUR/USD $1,3677 +0,04%

GBP/USD $1,6438 +0,34%

USD/CHF Chf0,9023 +0,39%

USD/JPY Y104,20 +1,17%

EUR/JPY Y142,54 +1,23%

GBP/JPY Y171,29 +1,58%

AUD/USD $0,8965 -0,97%

NZD/USD $0,8380 +0,07%

USD/CAD C$1,0945 +0,79%

00:30 Australia New Motor Vehicle Sales (MoM) December +1.8% +1.7%

00:30 Australia New Motor Vehicle Sales (YoY) December -0.5% +0.1%

02:00 China New Loans December 625 589 483

06:00 Japan Prelim Machine Tool Orders, y/y December +15.4%

08:15 Switzerland Retail Sales Y/Y November +1.2% +2.3%

10:00 Eurozone Trade Balance s.a. November 14.5 16.7

13:30 U.S. PPI, m/m December -0.1% +0.5%

13:30 U.S. PPI, y/y December +0.7% +0.8%

13:30 U.S. PPI excluding food and energy, m/m December +0.1% +0.1%

13:30 U.S. PPI excluding food and energy, Y/Y December +1.3% +1.3%

13:30 U.S. NY Fed Empire State manufacturing index January 0.98 3.2

14:15 United Kingdom BOE Gov Mark Carney Speaks

14:15 United Kingdom BOE Deputy Governor for Financial Stability Jon Cunliffe speaks

15:30 U.S. Crude Oil Inventories January -2.7

19:00 U.S. Fed's Beige Book January

23:50 Japan Core Machinery Orders November +0.6% +1.2%

23:50 Japan Core Machinery Orders, y/y November +17.8% +11.7%

23:50 Japan Tertiary Industry Index November -0.7% +0.8%