The euro exchange rate fell slightly against the dollar, which has been associated with the release of weak data on Germany, as well as comments submitted today ECB officials , according to which it was announced that the ECB is willing to further reduce interest rates.

Note that German business confidence continued to improve in September, but remains slightly below economists' expectations . This became known as a survey institute Ifo. Business climate index rose to 107.7 in September from a revised 107.6 in August. Economists' expectations were at the level of 108.4 .

Ifo business expectations index rose to 104.2 in September from 103.3 in the previous month . According to forecasts of the index was to grow to 104. The current conditions index fell slightly to 111.4 from 112 in August. Economists had forecast an increase to 112.6 .

Meanwhile, we add that investors are very sensitive to economic data from the eurozone after European Central Bank President Mario Draghi said the bank is ready to provide cheap long-term loans to keep money market rates of growth. ECB Governing Council member Ewald Nowotny on Tuesday confirmed what Draghi , saying it was too early to stop the use of anti-crisis measures.

However, it is worth noting that the euro could still recover some of the lost ground , which helped the U.S. data , which showed that consumer confidence Conference Board, which increased slightly in August , fell in September. Index is currently 79.7 (1985 = 100 ) compared to 81.8 in August. The current conditions index rose to 73.2 from 70.9 . The expectations index fell to 84.1 from 89.0 last month.

The British pound shows a decline against the dollar , although it withdrew from the values ​​which have helped the weak data on U.S. consumer confidence . Note that initially the pressure on the currency was data on mortgage lending in the UK. Approved applications for mortgage loans increased in August, both in quantity and in value terms , data showed on Tuesday, the British Bankers Association (BBA). The number of mortgages approved for house purchase rose to 38,228 - the highest level since 2009 - up from 37,428 a month ago. But, at the same time , the August level was below the consensus - the forecast of 38650 . In value terms, mortgage applications to purchase homes rose to 6 billion British pounds from 5.8 billion pounds in July. In addition , the data showed that the level of unsecured borrowing rose by 0.3 percent compared with a year earlier. As part of the annual growth of credit cards was 6.7 percent , surpassing the personal loans and overdrafts , which grew by 5.1 percent.

At the same time, in a speech today, David Miles , a member of the Bank of England's MPC , said that , despite the fact that the recent improvement in economic data give reason for optimism , the weakness of the economy, continuing for several years, meaning that people should not wait for that monetary policy will quickly return to normal , " Given that inflationary pressures will develop in the right direction , the tightening of monetary policy will not be as long as the recovery does not gain momentum to significantly reduce unemployment ."

European stocks advanced, following a two-day decline, as telecommunications companies climbed, outweighing U.S. consumer confidence and regional manufacturing reports that trailed economists’ estimates.

The Stoxx Europe 600 Index added 0.2 percent to 313.2 at 4:30 p.m. in London. The equity benchmark has climbed 5.3 percent in September, extending its rally this year to 12 percent, as the Fed refrained from reducing its monthly bond buying. The gauge has risen 9.9 percent in the current quarter, on course for its biggest gain in four years.

In the U.S., the Conference Board’s consumer-confidence index slipped to 79.7 this month from a revised 81.8 in August. The median forecast of economists had called for a reading of 79.9.

A measure of manufacturing in the region covered by the Fed Bank of Richmond shrank in September. The factory index, which covers North Carolina, South Carolina, the District of Columbia, Maryland, Virginia and most of West Virginia, dropped to 0 from 14 last month. Economists had predicted the gauge would decline to 12.

In Germany, the Ifo institute’s business-climate index, based on a survey of 7,000 executives, advanced to 107.7 from a revised 107.6 in August. That missed the median economist forecast of 108.

National benchmark indexes advanced in 14 out of 18 western-European markets.

FTSE 100 6,571.46 +14.09 +0.21% CAC 40 4,195.61 +23.53 +0.56% DAX 8,664.6 +29.31 +0.34%

Telecom Italia climbed 1.7 percent to 60 euro cents. Telefonica agreed to pay 324 million euros ($437 million) to increase its stake in Telco SpA, a holding company that owns 22.4 percent of Telecom Italia, to 66 percent from 46 percent.

Nokia, the Finnish phonemaker that has agreed to sell its handsets business to Microsoft Corp., climbed 2.4 percent to 4.91 euros. HTC infringed on two patent rights held by Nokia, U.S. International Trade Commission Judge Thomas Pender said in a notice yesterday. A six-member commission will review the judge’s findings before deciding whether to block any imports.

Total added 2.6 percent to 43.20 euros after Barclays raised its recommendation on the stock to equal weight, which is similar to hold, from underweight. The brokerage said Europe’s third-biggest oil company can better control its capital expenditure than it had predicted. Total gave detailed capital-spending plans for exploration and production at its investor day, according to Barclays.

Close Brothers Group Plc gained 4.9 percent to 1,189 pence as the British financial services company said full-year net income rose 20 percent to 119.4 million pounds ($191 million). Its asset-management unit swung to a profit of 4 million pounds from a 4.3 million-pound loss a year earlier.

Burckhardt tumbled 7.3 percent to 358.25 Swiss francs, its biggest decline in two years, after saying that lower-than-expected gross margins on two major compressor-system projects will lead the company to make provisions in the six months through September.

The cost of oil futures fell slightly , dropping at the same time below $ 108 per barrel as geopolitical tensions eased , and new evidence of increases in oil supplies from Libya and Iraq. Recall that the price of Brent crude reached in August high above $ 117 a barrel on fears of war in Syria that could lead to a decrease in oil supplies from the Middle East, but , after a compromise was reached with regard to chemical weapons , the chances of war intervention by the United States decreased significantly . We add that the signs of a possible reconciliation between Iran and the West also fell geopolitical tensions and raised the chances of an increase in sales of Iranian oil after years of sanctions , which reduced oil exports by more than 1 million barrels per day.

"Oil prices continued a downward trend," said Carsten Fritsch , senior commodity and oil analyst at Commerzbank. "The decline in the risk premium and the increase in oil production suggest that further fall in prices is inevitable."

It should be noted that Iran has agreed to talks on its nuclear program with senior diplomats from six world powers, including U.S. Secretary of State John Kerry , raising hopes that Tehran's relations with the United States can improve. U.S. officials have also said that there is a possibility of this week's meeting between President Barack Obama and the new president of Iran Hassan Rouhani .

Meanwhile, data released today showed that the volume of production in Nigeria, Africa's biggest oil producer , rose to 2.4 million barrels a day after the country has been able to restore the capacity of victims of vandalism . Production in Nigeria declined to 2.2 million barrels per day.

Additional pressure on the stock have been reports of increasing oil production in Texas. According to the Energy Information Administration U.S. Department of Energy , the volume of production in Texas in June reached 2.58 million barrels of oil a day - the highest since May 1981 . This was achieved thanks to increased supply from the field Eagle Ford.

The cost of the November futures on U.S. light crude oil WTI (Light Sweet Crude Oil) fell to $ 102.85 a barrel on the New York Mercantile Exchange.

November futures price for North Sea Brent crude oil mixture fell $0.10 to $ 107.86 a barrel on the London exchange ICE Futures Europe.

Gold prices declined moderately today , registering with the decline in the fourth session in a row, which was associated with the strengthening of the dollar. We also add that the lack of clarity regarding U.S. monetary and fiscal policy has led to a decrease in demand. Recall that last week, the Federal Reserve surprised markets by saying that there will be revenge while reducing the amount of asset purchases , confounding expectations for a slight reduction experts . This decision led to a sharp rise in gold prices , but renewed concerns that the Fed may resort to a reduction in the program as early as next month, contributed to a marked decline , which is almost offsetting the early growth .

We add that the head of the Federal Reserve Bank of New York William Dudley said the U.S. central bank may further reduce its support for the economy at the end of this year, while the head of the St. Louis Fed President James Bullard said the incentives can be extended in October , but everything will depend on the economic data.

It should be noted that in the course of today's trading is also influenced by the U.S. data , which showed that house prices have continued to increase in July , although a somewhat slower pace than in previous months.

According to the report S & P / Case-Shiller, home prices in 10 major U.S. cities rose by 12.3% in the year ended in July. The housing price index S & P Case-Shiller 20-city U.S. in July rose by 12.4 % y / y , slightly weaker than expected growth of 12.5 % y / y It should be noted that the report was expressed caution about the prospects for house prices.

Meanwhile , another report showed that consumer confidence Conference Board, which increased slightly in August , fell in September. Index is currently 79.7 (1985 = 100 ) compared to 81.8 in August. The current conditions index rose to 73.2 from 70.9 . The expectations index fell to 84.1 from 89.0 last month.

Also today, it was reported that gold holdings in SPDR Gold Trust fell 0.1 percent on Monday , in connection with which the total outflow for the year rose to 440 thousand tons.

The cost of the October gold futures on COMEX today dropped to $ 1316.00 per ounce.

EUR/USD $1.3300, $1.3320, $1.3350, $1.3360, $1.3500, $1.3600

USD/JPY Y97.65, Y98.70, Y98.90, Y99.00, Y99.40, Y100.00, Y100.50

AUD/USD $0.9300, $0.9330, $0.9430, $0.9450, $0.9500

NZD/USD $0.8350

USD/CAD Cad1.0290

EUR/CHF Chf1.2400

EUR/GBP stg0.8410, stg0.8430

GBP/JPY Y159.00

AUD/JPU Y91.00, Y92.10, Y93.00

USD/CHF Chf0.9260

EUR/SEK Sek8.6180

U.S. stock-index futures are mixed as investors weighed comments by central bank officials.

Global Stocks:

Nikkei  14,732.61 -9.81 -0.07%

Hang Seng 23,179.04 -192.50 -0.82%

Shanghai Composite 2,207.53 -13.51 -0.61%

FTSE  6,572.77 +15.40 +0.23%

CAC  4,201.44 +29.36 +0.70%

DAX 8,657.77 +22.48 +0.26%

Crude oil102.82 -0.86%

Gold $1317.00 -0.77%

Upgrades:

Apple (AAPL) upgraded from Neutral to Positive at Susquehanna

Facebook (FB) upgradde from Neutral to Buy at Citigroup

Downgrades:

Other:

EUR/USD

Offers $1.3650/60, $1.3620, $1.3600, $1.3575/80, $1.3545/50

Bids $1.3455/50, $1.3420/10, $1.3400, $1.3380

GBP/USD

Offers $1.6180/85, $1.6145/50, $1.6090/100, $1.6075/80, $1.6045/50

Bids $1.5960/50, $1.5920, $1.5900, $1.5850

AUD/USD

Offers $0.9540/50, $0.9525/30, $0.9500, $0.9480, $0.9450/60

Bids $0.9350, $0.9320, $0.9300

EUR/GBP

Offers stg0.8520, stg0.8500, stg0.8480, stg0.8460/65, stg0.8450

Bids stg0.8400, stg0.8355/50, stg0.8320, stg0.8300, stg0.8280

EUR/JPY

Offers Y134.50, Y134.20, Y134.00, Y133.60/65

Bids Y133.00, Y132.80, Y132.60/50, Y132.20, Y132.00

USD/JPY

Offers Y99.90/0.00, Y99.80, Y99.60, Y99.50, Y99.20

Bids Y98.60, Y98.50, Y98.25/20, Y98.00, Y97.80

European stocks erased their advance as a report showed German business confidence fell short of economists’ estimates this month. U.S. index futures were little changed, while Asian shares retreated.

In Germany, a report showed that business confidence increased at a slower-than-forecast pace in September. The Ifo institute’s business-climate index, based on a survey of 7,000 executives, advanced to 107.7 from a revised 107.6 in August, falling short of the median economist forecast of 108.

Fed Bank of Cleveland President Sandra Pianalto will deliver a keynote address at the Chicago Fed’s payments symposium at 8:30 a.m. local time. Fed Bank of Kansas President Esther George speaks at the conference at noon local time, after European markets close.

Telecom Italia climbed 2.4 percent to 60.4 euro cents. Telefonica agreed to pay 324 million euros ($437 million) to increase its stake in Telco SpA, a holding company that owns 22.4 percent of Telecom Italia, to 66 percent from 46 percent.

Total added 1.9 percent to 42.94 euros after Barclays raised its recommendation on the stock to equal weight, which is similar to neutral, from underweight. The brokerage said Europe’s third-biggest oil company can better control its capital expenditure more than it had predicted. Total gave detailed capital-spending plans for exploration and production at its investor day, according Barclays.

Burckhardt tumbled 7.1 percent to 359.25 Swiss francs after saying that lower-than-expected gross ">FTSE 100 6,560.86 +3.49 +0.05%

CAC 40 4,191.05 +18.97 +0.45%

DAX 8,643.97 +8.68 +0.10%

The U.K. mortgage approvals both in terms of value and volume increased in August from July, British Bankers' Association reported Tuesday.

The number of mortgages approved for house purchases increased to 38,228, the highest since 2009, from 37,428 a month ago, it said. But the level was below 38,950 consensus.

Likewise, the value of mortgages for house purchase rose to GBP 6 billion from GBP 5.8 billion in July.

Further, data today showed that the outstanding level of unsecured borrowing grew by 0.3 percent over the year. Within this, annual growth in card borrowing of 6.7 percent outweighed personal loans and overdraft borrowing of 5.1 percent.

For the first time in four years, annual growth in household borrowing on credit cards and personal loans has turned positive and mortgages approved for house purchase are also at their highest level since 2009, BBA statistics director, David Dooks said.

German business confidence continued to improve in September, but remained below economists' expectations, reports said Tuesday citing survey results from the Ifo Institute.

The business climate index edged up to 107.7 in September from a revised reading of 107.6 in August. The expected reading was 108.

The Ifo business expectations index rose to 104.2 in September from 103.3 in the previous month. This was forecast to rise to 104.

The current assessment index fell 112 in" w:st="on">112 in August. Economists had forecast an increase to 112.5.

EUR/USD $1.3300, $1.3320, $1.3350, $1.3360, $1.3500, $1.3600

USD/JPY Y97.65, Y98.90, Y99.00, Y99.40, Y100.00, Y100.50

AUD/USD $0.9280, $0.9300, $0.9330, $0.9430, $0.9450, $0.9500

NZD/USD $0.8350

USD/CAD Cad1.0290

EUR/CHF Chf1.2400

EUR/GBP stg0.8410, stg0.8430

GBP/JPY Y159.00

AUD/JPY Y91.00, Y92.10, Y93.00

USD/CHF Chf0.9260

The dollar remained lower after a two-day slide versus the yen as the U.S. government moves closer to a shutdown with lawmakers wrangling over the debt limit. The U.S. Senate yesterday began considering a measure the House passed Sept. 20 that cuts off money for President Barack Obama’s health-care law and finances the federal government through mid-December. Democratic leaders in the Senate said they won’t pass a bill that takes money away from the 2010 legislation. With government funding set to expire Oct. 1 and the Treasury expected to exhaust its ability to borrow funds in mid-October, U.S. federal offices have begun planning for the possibility of a shutdown.

The currencies of Australia and New Zealand dropped against most major peers as Asian stocks retreated from a four-month high.

Federal Reserve Bank of Kansas City President Esther George will speak today, after New York Fed President William C. Dudley said yesterday the U.S. economy still needs support. Cleveland Fed President Sandra Pianalto will also speak today in Chicago.

Reports today may show gains in U.S. home prices, adding to evidence the economy may be strong enough to weather a reduction in stimulus. The S&P/Case-Shiller index of home prices in 20 cities probably rose 12.4 percent in July from a year earlier, according to the median estimate of analysts polled by Bloomberg before today’s data. If confirmed, that would be the biggest gain since February 2006.

The euro remained lower after its biggest one-day drop in two weeks ahead of a speech in Vienna by European Central Bank Governing Council member Ewald Nowotny. The ECB’s Nowotny will speak today after President Mario Draghi said yesterday he’s ready to deploy another long-term refinancing operation to provide funds to Europe’s banking system if needed.

EUR / USD: during the Asian session the pair traded in the range of $ 1.3485-95

GBP / USD: during the Asian session, the pair fell to $ 1.6025

USD / JPY: during the Asian session the pair traded in the range of Y98.65-90

Tuesday is another full day of calendar releases Tuesday, with data and central bank appearances on both sides of the Atlantic. The European calendar gets underway at 0645GMT, with the release of French August housing starts and permits at 0645GMT. The German September IFO business climate index is set for release at 0800GMT, following in the week of the better-than-expected euro area services PMI. Also at 0800GMT, ECB Governing Council member Ewald Nowotny speaks in Vienna. There are further ECB speakers expected from 1100GMT, when Vice-President Vitor Constancio is slated to speak on the occasion of the Awarding Ceremony of the German Bernacer Prize. At 1130GMT, ECB Executive Board member Benoit Coeure and ECB Governing Council member Erkki Liikanen speak in Helsinki. At 1300GMT, the Belgian August BNB business sentiment is expected. The last ECB appearance of the day, at 1630GMT, sees Executive Board member Yves Mersch and ECB Governing Council member Ewald Nowotny speak in Vienna. The limited UK calendar sees the release of the August BBA lending data. The opposition Labour Party continues with its annual conference, as Leader Ed Miliband is set to speak.

Tuesday is another full day of calendar releases Tuesday, with data and central bank appearances on both sides of the Atlantic. The US calendar gets underway at 1145GMT, when the ICSC-Goldman Store Sales data for the Sept 21 week are set to be published. At 1230GMT, the Canadian July retail sales numbers are set for release. Back in the US, at 1255GMT, the Sept 21 week Redbook Average will cross the wires. There is further US data at 1300GMT, when the July S&P/Case-Shiller Index and the July FHFA Home Price Index will be released. Fed speakers get underway from 1330GMT, when Cleveland Federal Reserve Bank President Sandra Pianalto delivers a speech to open the Chicago Fed payments conference in Chicago. Further US data will cross the wires at 1400GMT, when the Sept Richmond Fed Manufacturing Index and the Sept Consumer Confidence numbers are expected. The Conference Board's index of consumer confidence is expected to fall to a reading of 79.5 in September after a modest rise in the previous month. At the same time, Kansas City Federal Reserve Bank President Esther George introduces speaker at Chicago Fed payments conference in Chicago.

GOLD 1,321.70  -10.90 -0.82%

OIL (WTI) 103.49  -1.26 -1.20%

Nikkei 225 14,742.42 -23.76 -0.16%

Hang Seng 23,354.73 -147,78 -0,63%

S & P / ASX 200 5,252.46 -24,23 -0,46%

Shanghai Composite 2,221.04 29,19 1,33%

FTSE 100 6,557.37 -39.06 -0.59%

CAC 40 4,172.08 -31.58 -0.75%

DAX 8,635.29 -40.44 -0.47%

Dow -48.62 15,402.47 -0.31%

Nasdaq -9.44 3,765.29 -0.25%

S&P -7.98 1,701.93 -0.47%

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

EUR/USD $1,3493 -0,26%

GBP/USD $1,6042 +0,08%

USD/CHF Chf0,9109 +0,02%

USD/JPY Y98,81 -0,61%

EUR/JPY Y133,70 -0,61%

GBP/JPY Y158,47 -0,54%

AUD/USD $0,9424 -0,17%

NZD/USD $0,8370 -0,13%

USD/CAD C$1,0282 +0,17%

08:00 Germany IFO - Business Climate September 107.5 108.4

08:00 Germany IFO - Current Assessment September 112.0 112.6

08:00 Germany IFO - Expectations September 103.3 104.0

08:30 United Kingdom BBA Mortgage Approvals August 37.2 38.6

10:30 United Kingdom MPC Member Miles Speaks

11:00 Eurozone ECB’s Vitor Constancio Speaks

12:30 Canada Retail Sales, m/m July -0.6% +0.6%

12:30 Canada Retail Sales ex Autos, m/m July -0.8% +0.6%

12:45 United Kingdom MPC Member Tucker Speaks

13:00 Belgium Business Climate September -8.6 -7.1

13:00 U.S. Housing Price Index, m/m July +0.7% +0.9%

13:00 U.S. Housing Price Index, y/y July +7.7%

13:00 U.S. S&P/Case-Shiller Home Price Indices, y/y July +12.1% +12.5%

14:00 U.S. Richmond Fed Manufacturing Index September 14 17

14:00 U.S. Consumer confidence September 81.5 79.9

16:30 Canada BOC Deputy Governor Lawrence Schembri Speaks

17:00 United Kingdom MPC Member Bean Speaks

17:00 U.S. FOMC Member Esther George Speaks

20:30 U.S. API Crude Oil Inventories September -0.3

22:45 New Zealand Trade Balance, mln August -774 -722