The euro exchange rate fluctuates in relation to the dollar, which had an impact on the reported data on GDP. According to the report, the gross domestic product expanded in the first quarter to 2.5 percent, compared with growth of 0.4 percent in the fourth quarter of 2012. Note that according to the average estimate of economists, the economy should expand by 3.1 percent. Meanwhile, it was reported that consumer spending continued to increase, thus speeding up the pace, and companies have increased their holdings after January 1, so it was introduced cuts in public spending. The data also showed that consumer purchases increased 3.2 percent from 1.8 percent in the fourth quarter, which was associated with a sharp increase in fuel prices. The government also reported that the housing sector continues to show signs of significant improvement, as housing costs rose by 12.6 percent, followed after a significant growth in the previous two quarters. With the exception of higher gasoline prices, which have since been dropped, inflationary pressures were contained. We also note that the price index for personal consumption expenditures increased by 0.9 per cent per annum, compared with an increase of 1.6 percent in the previous two quarters.

Add that today as it was announced that in April consumer sentiment index rose to 76.4, compared with a preliminary reading at 72.3. Note that according to the average estimates of experts, the index had to rise to 74.3. We also recall that at the end of March, the value of this indicator was 78.6. In addition, it was reported that the current conditions index rose to 89.9 from 84.8 reported in the preliminary reading, and the expectations index advanced to 67.8 from 64.2. Economists said that consumers are feeling more optimistic despite disappointing reports on the economy and the labor market, as well as news about reducing federal spending.

The yen rose significantly against the dollar on the background of the fact that in the course of today's meeting of the Bank of Japan decided to leave its monetary policy unchanged. Leaders of the Central Bank wants to make sure that mitigation actions taken earlier in April, will yield results and will be effective in the fight against chronic lowering of prices has been going on for 15 years. Recall that the management of the bank unanimously decided to maintain the policy of increasing the monetary base at an annual rate of 60-70 trillion yen, which is a new target level. This will allow for two years to double the amount of funds that the central bank will be to pump into the economy. In general, the decision of the Bank of Japan was expected. Meanwhile, today it was announced that the Bank of Japan raised its forecasts for economic growth and consumer prices, reaffirming his promise to double the interest rate for two years. Releasing its forecast for economic activity and prices, the central bank said that Japan's economy is expected to return to the path of moderate recovery around mid-2013. Meanwhile, the report noted that the improvement will be supported by domestic demand and growth in foreign economies.

Note that the Bank of Japan raised its forecast for gross domestic product growth for fiscal year 2013 to the level of 2.9 percent, compared with an estimate of 2.3 percent expansion, which was reported in January. As for the 2014 financial year, growth is projected at 1.4 per cent, which is considerably larger than previously thought - by 0.8 percent.

The Canadian dollar has grown significantly in relation to the U.S. dollar, after the Ministry of Finance reported that the surplus of the state budget of Canada was a record 1.56 billion Canadian dollars in February. The data indicate an increase compared to the same period a year earlier, when the balance of the state budget amounted to 1.49 billion Canadian dollars. According to the government's growth was due to increased incomes, tax revenues, payments on loans. In February, government revenues rose 2.4% to 10.82 billion Canadian dollars, while the cost of the program increased by 3.1% to 19.73 billion Canadian dollars. The financial costs associated with government debt fell by 5.5% to 2.14 billion Canadian dollars, which is a reflection of the low level of interest rates. In the period February-April 2013 in Canada was a decrease in the deficit to 11.81 billion Canadian dollars, which is significantly less than 12.63 for the same period in 2012. We add that the Canadian government expects a budget deficit for the fiscal 2013 of $ 25.9 Canadian dollars.

European stocks fell, paring their biggest weekly rally in five months, as companies from PPR (PP) SA to Total SA posted financial results that disappointed investors, while the U.S. economy grew at a slower-than-expected pace.

The Stoxx Europe 600 Index slipped 0.4 percent to 295.68 at 4:30 p.m. in London, paring an earlier retreat of as much as 0.9 percent. The gauge has still gained 3.7 percent this week, its biggest rally since November 2012, as investors speculated that the European Central Bank will cut interest rates. The equity benchmark has risen 5.7 percent this year.

National benchmark indexes retreated in 15 of the 17 western-European markets that opened today.

FTSE 100 6,426.42 -16.17 -0.25% CAC 40 3,810.05 -30.42 -0.79% DAX 7,814.76 -18.10 -0.23%

A Commerce Department report in Washington showed that the U.S. economy grew at a slower pace in the first quarter than estimated. Gross domestic product rose at a 2.5 percent annualized rate, compared with the 3 percent economists forecast. The world's largest economy expanded 0.4 percent in the final three months of 2012.

PPR slumped 6.8 percent to 166.40 euros after posting first-quarter sales from continuing operations that climbed 1 percent to 2.37 billion euros ($3.1 billion). That missed the 2.41 billion-euro average analyst estimate. PPR said revenue at its sports and lifestyle businesses dropped, especially in western Europe.

Total declined 1.9 percent to 37.38 euros as the oil company said earnings slid 7 percent because of losses from a canceled Canadian oil-sands project and lower output. Profit (FP) excluding changes in inventories fell to 2.9 billion euros in the first quarter, in line with the 2.92 billion-euro average estimate. Total made a 3.1 billion-euro profit a year earlier.

Ziggo NV (ZIGGO) slid 4.2 percent to 26.68 euros. Warburg Pincus LLC and Cinven Ltd. sold their remaining 17 percent in the Dutch cable company, according to a statement. The two shareholders sold the securities for 25.75 euros apiece, which was a 7.5 percent discount to yesterday's closing price.

Anheuser-Busch InBev NV (ABI) fell 2.8 percent to 71.90 euros, contributing the most to the Stoxx 600's slide. The brewer said it will shortly start its tender offer for the Grupo Modelo SAB shares that it does not already own. Separately, Goldman Sachs Group Inc. added the stock to its conviction sell list.

DNB ASA (DNB) advanced 5.2 percent to 92.50 kroner after Norway's biggest bank said first-quarter net income amounted to 3.18 billion kroner ($543 million), exceeding the 2.76 billion kroner that analysts had estimated.

National Bank of Greece SA surged 8.2 percent to 76.9 euro cents. The lender plans to raise 12 percent of its recapitalization needs from private investors, up from a previous target of 10 percent.

The price of oil fell, dropping below $ 103 per barrel, which occurred after the rise of $ 3 in the last two sessions, as investors were cautious about the prospects for growth in the world's two largest oil consumers - the United States and China.

Note that the oil can be demonstrated by the end of the week the biggest weekly gain since November. But, despite this, the prices are up 7 percent below the levels that were recorded at the beginning of April, as a number of disappointing data raised concerns about the global economic downturn. It is also worth noting that considerable pressure had today's U.S. data, which showed that in the first quarter, the economy grew less than expected, fueling concerns over a slowdown in the second quarter.

Despite the price increase, some analysts say the market is still in the "bearish" sentiment.

At the same time, experts say that the market has experienced a period of relatively robust production in the North Sea, thus weakening the growth of Brent spread, while market participants are less concerned with production of crude oil to the U.S. Midwest.

According to a report from the U.S. Energy Information Administration, oil was also supported by the tightening of the world's reserves over the past two months, as well as the ongoing tensions in the Middle East. Members of Congress call for action against Syria after the information has shown that there is a possibility of use of chemical weapons by the Syrian Government

The cost of the June futures on U.S. light crude oil WTI (Light Sweet Crude Oil) dropped to 92.95 dollars per barrel.

June futures price for North Sea Brent crude oil mixture fell $ 0.41 to $ 102.64 a barrel on the London exchange ICE Futures Europe.

Gold futures rose, heading for the largest weekly gain since 2011, after data showed the U.S. economy grew in the first quarter, less than forecast, which increased demand for the precious metal as a haven.

According to the report, the gross domestic product expanded in the first quarter to 2.5 percent, compared with growth of 0.4 percent in the fourth quarter of 2012. Note that according to the average estimate of economists, the economy should expand by 3.1 percent.

Meanwhile, it was reported that consumer spending continued to increase, thus speeding up the pace, and companies have increased their holdings after January 1, so it was introduced cuts in public spending.

The data also showed that consumer purchases increased 3.2 percent from 1.8 percent in the fourth quarter, which was associated with a sharp increase in fuel prices.

The government also reported that the housing sector continues to show signs of significant improvement, as housing costs rose by 12.6 percent, followed after a significant growth in the previous two quarters.

Note that Standard Chartered Plc today reported that on April 23 the physical gold sales to India have exceeded the previous record by 20 percent, and UBS AG said that on the same day, the volume of flow was at its highest level since 2008.

According to the London-based World Gold Council, some central banks are likely to take advantage of lower prices: Russia increased its reserves by 4.7 tons to 981.6 tons in March, and the reserves of Kazakhstan rose by 1.2 tonnes. According to forecasts, this year, the central bank will buy about 550 tons of gold, after increasing by 534.6 tons last year, the highest increase since 1964.

The cost of the June gold futures on COMEX today rose to 1478.00 dollars per ounce.

EUR/USD $1.2800, $1.2880, $1.3000, $1.3100, $1.3130, $1.3135, $1.3145

USD/JPY Y97.50, Y98.00, Y99.00, Y99.10, Y99.25, Y99.75, Y100.00

GBP/USD $1.5300

EUR/GBP stg0.8480, stg0.8500, stg0.8545

EUR/CHF Chf1.2210, Chf1.2230

U.S. stock futures maintained losses as data showed the economy grew less than economists forecast in the first quarter.

Global Stocks:

Nikkei 13,884.13 -41.95 -0.30%

Hang Seng 22,547.71 +146.47 +0.65%

Shanghai Composite 2,177.91 -21.40 -0.97%

FTSE 6,412.72 -29.87 -0.46%

CAC 3,814.76 -25.71 -0.67%

DAX 7,808.42 -24.44 -0.31%

Crude oil $93.04 -0.64%

Gold $1470.10 +0.55%

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EUR/USD

Offers $1.3115/30, $1.3090/100, $1.3070, $1.3050/55

Bids $1.2980, $1.2960/50

GBP/USD

Offers $1.5580/85, $1.5550, $1.5510/20, $1.5490/500

Bids $1.5410/00, $1.5380, $1.5365/60, $1.5330/20

AUD/USD

Offers $1.0395/00, $1.0380, $1.0355/60, $1.0345/50, $1.0320/25

Bids $1.0250, $1.0220/10, $1.0200, $1.0185/80

USD/JPY

Offers Y99.55/60, Y99.40/50, Y99.10/20, Y99.00

Bids Y98.40, Y98.10, Y98.00

EUR/JPY

Offers Y130.20/25, Y130.00, Y129.40/50, Y129.00/10

Bids Y128.00, Y127.85/80, Y127.50, Y127.00, Y126.55/50

EUR/GBP

Offers stg0.8580/85, stg0.8530/35, stg0.8500/05, stg0.8480/85, stg0.8450/60

EUR/USD $1.2800, $1.2880, $1.3000, $1.3100, $1.3130, $1.3135, $1.3145

USD/JPY Y97.50, Y98.00, Y99.00, Y99.10, Y99.25, Y99.75, Y100.00

GBP/USD $1.5300

EUR/GBP stg0.8480, stg0.8500, stg0.8545

EUR/CHF Chf1.2210, Chf1.2230

AUD/USD $1.0200, $1.0235, $1.0250, $1.0330, $1.0400, $1.0515

NZD/JPY Y82.50

Asian stocks rose, with the regional benchmark gauge heading for the biggest monthly gain this year, as companies including BYD Co. and Japan Tobacco Inc. forecast profit increases. The Bank of Japan reiterated a pledge to double the country's monetary base in two years.

Nikkei 225 13,884.13 -41.95 -0.30%

S&P/ASX 200 5,097.5 -4.93 -0.10%

Shanghai Composite 2,184.86 -14.44 -0.66%

BYD, the Chinese automaker partially owned by Warren Buffett's Berkshire Hathaway Inc., jumped 11 percent in Hong Kong after saying first-half earnings will surge.

Japan Tobacco, the world's best-performing cigarette maker this year, climbed 3.3 percent after increasing its dividend and forecasting a record profit.

Shiseido Co., Japan's biggest cosmetics maker, slumped 9.6 percent after cutting its dividend.

04:00 Japan BoJ Interest Rate Decision 0.10% 0.10% 0.10%

04:00 Japan BoJ Monetary Policy Statement

New Zealand's dollar climbed after data showed the nation's exports rose more than analysts forecast.

The euro was poised for its first weekly decline this month against the yen on speculation the European Central Bank will cut its record-low benchmark interest rate next week. German business confidence declined after winter weather hindered the recovery in Europe's largest economy. Spanish unemployment rose in the first quarter to the highest in at least 37 years and French jobless claims increased to the highest ever, data showed yesterday. The ECB has kept its main refinancing rate at 0.75 percent since July 2012.

Government figures today showed Japan's consumer prices excluding fresh food fell 0.5 percent in March from a year earlier, the biggest drop since March 2011.

EUR / USD: during the Asian session the pair rose to $ 1.3050

GBP / USD: during the Asian session the pair rose to $ 1.5470

USD / JPY: during the Asian session the pair fell to Y98.60

Friday is a quieter day, with only limited data on both sides of the Atlantic although US growth numbers will dominate. The calendar gets underway at 06500GMT, with the release of the German March import prices. At 0645GMT, the French April consumer confidence survey will cross the wires. At 0715GMT, ECB Executive Board member Joerg Asmussen delivers a speech, in Frankfurt. At 0800GMT, the ECB will release the March M3 data, while SNB Chairman Thomas Jordan delivers a speech at a shareholders meeting, in Bern. At 1300GMT, German Chancellor Angela Merkel speaks at a small-business conference, in Berlin. Sovereign issuance is limited to an Italian T-bill sale. Italy plan to issue E8.5 bn in a new 6-month Oct 31, 2013 BOT.

Change % Change Last

GOLD 1,464.00 40.30 2.83%

OIL (WTI) 93.24 1.81 1.98%

Change % Change Last

Nikkei 225 13,926.08 +82.62 +0.60%

S&P/ASX 200 Closed

Shanghai Composite 2,199.31 -19.01 -0.86%

FTSE 100 6,442.59 +10.83 +0.17%

CAC 40 3,840.47 -2.47 -0.06%

DAX 7,832.86 +73.83 +0.95%

Dow +25.19 14,701.49 +0.17%

Nasdaq +20.34 3,289.99 +0.62%

S&P +6.45 1,585.24 +0.41%

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

EUR/USD $1,3008 -0,03%

GBP/USD $1,5433 +1,10%

USD/CHF Chf0,9447 -0,26%

USD/JPY Y99,33 -0,18%

EUR/JPY Y129,19 -0,24%

GBP/JPY Y153,26 +0,88%

AUD/USD $1,0293 +0,14%

NZD/USD $0,8501 +0,29%

USD/CAD C$1,0199 -0,56%

04:00 Japan BoJ Interest Rate Decision 0.10% 0.10%

04:00 Japan BoJ Monetary Policy Statement

06:45 France Consumer confidence April 84 83

07:00 Switzerland KOF Leading Indicator April 0.99 0.98

07:15 Japan BOJ Press Conference

08:00 Eurozone M3 money supply, adjusted y/y March +3.1% +3.0%

08:00 Switzerland SNB Chairman Jordan Speaks

12:30 U.S. PCE price index, q/q Quarter I +1.8% +2.7%

12:30 U.S. PCE price index ex food, energy, q/q Quarter I +1.0%

12:30 U.S. GDP, q/q (Preliminary) Quarter I +0.4% +3.0%

13:55 U.S. Reuters/Michigan Consumer Sentiment Index (Finally) April 72.3 74.3