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05.07.2013 18:20

American focus: the dollar has appreciated strongly against major currencies

U.S. dollar exchange rate increased significantly against the euro, which in the first place was due to the publication of a report on employment in the United States. The Labor Department reported that U.S. employers added 195,000 jobs in June, a sign of major improvement in the labor market, said on Friday. The unemployment rate remained unchanged at 7.6%. We add that the results exceeded expectations. Economists had expected the growth to 162,000, and the fall in the unemployment rate to 7.5% from 7.6% in May.

U.S. employers added an average of 182,000 jobs each month for the past year, said the Ministry of Labour. Growth in employment in May rose by 195,000 originally reported 175,000 and 199,000 in April, compared with an earlier estimate of 149000.Federalnaya Reserve oversees employment data. Improvements could signal the imminent release of the 85-billion program of bond purchases. Fed Chairman Ben Bernanke said that the program could end up around speed, unemployment is 7%. The Fed said it may start to raise interest rates after the figure drops to 6.5%.

The last picture of the labor market shows that the economy may be ready for more rapid growth. Consumer spending and strengthen the housing market have been most of the recovery, but economists predict modest growth in the second quarter because of government cuts, slow growth abroad, and the total uncertainty. The private sector added 202,000 jobs in June, led by growth in the hospitality sector, the retail sector, healthcare, and financial activities. Monthly job growth among these companies was double the average growth rate in 2012, said the Ministry of Labour. Employment in the manufacturing sector slowed. Despite the overall progress, 11800000 workers who wanted a job could not find a job for over a month. A broader measure of unemployment, which includes those who are looking for part-time work increased to 14.3% from 13.8% the previous month.

Pound continued to decline against the U.S. dollar after the eve of the first meeting of Mark Carney as chairman of the Monetary Policy Committee of the Bank of England completed an unusual warning that the high expectations among investors tightening does not guarantee economic development. The meeting ended without any change in the policy of the central bank amid signs that the recovery in the UK economy is gaining momentum. In the retreat of its usual practice, when the policy has remained unchanged, the Bank of England issued a statement in which he said that the recovery is under way, and that he expects the annual inflation rate 2.0% in the future. Monetary Committee also said that it can raise its key interest rate sooner than investors expected. "The implied rate of the Bank of England is not justified in view of recent developments in the domestic economy," - said the Monetary Committee. Minutes of the meeting will be released on July 17. Also noticeable pressure on the pound had a report on employment in the United States, which exceeded estimates.

The Canadian dollar was lower against the U.S. dollar after strong employment data in the U.S. and Canada, which have led to widespread growth of the U.S. dollar in light of the growing expectations that the Federal Reserve will begin to narrow its program of bond purchases in the coming months.

Statistics Canada reported that the number of new jobs has decreased by 400, showing the first decline in three months, and little change after the high growth in May to 95 thousand Economists had expected employment decreased by 12.3 thousand

The unemployment rate in June remained unchanged at 7.1% in line with forecasts. The number of jobs to full-time employment in June fell 32.4 thousand, and part-time jobs increased by 32.2 million labor force in June increased by 7.1 thousand people, compared with May. Average hourly earnings in June, +2.2% y / y Proportion of the economically active population of 66.7% in June against 66.7% in May.

In addition, another report showed that business activity index managers seasonally adjusted fell to 55.3 in June, but remained in expansion territory, indicating that purchasing activity in Canada has increased in May. Recall that the display shows the level of business activity of the industrial sector. More than fifteen hundred managers from different regions and industries are asked to evaluate the level of purchases compared to the previous month (above, below or at the same level). The indicator value above 50 indicates an increase in purchases and the value below 50 indicates a decrease.

05.07.2013 17:20

European stock close

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