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29.11.2013 13:15

European session: European currency traded mixed against the dollar


00:05 UK consumer confidence index from Gfk October -11 -8 -12

00:30 Australia Private Sector Credit m / m in October +0.3% +0.4% +0.5 %

00:30 Australia Private Sector Credit , y / y +3.3 % +3.5 October % +3.5 %

05:00 Japan Bookmark new homes , y / y in October +19.4 % +5.5 % +7.1 %

07:00 UK house price index from Nationwide, m / m +1.0 % in November +0.6% +0.6%

07:00 UK house price index from Nationwide, y / y +5.8 % in November +0.6% +6.5 %

7:00 Germany Retail sales in October , seasonally adjusted -0.4% +0.5 % -0.8 %

7:00 Germany Retail sales unadjusted y / y in October +0.2% +1.5 % -0.2 %

7:45 France Consumer spending in October -0.1% +0.3 % -0.2 %

7:45 France Consumer Spending y / y in October -0.1% +0.1 % -0.1 %

09:30 UK volume of net loans to individuals billion in October 1.4 2.1 1.7

09:30 UK approved applications for mortgage loans , thousand 66.7 68.5 67.7 October

10:00 Eurozone unemployment rate in October 12.2 % 12.2 % 12.1%

10:00 Eurozone CPI y / y (preliminary data ) November +0.7 % +0.8% +0.9 %

10:00 Switzerland index of leading economic indicators from the KOF November 1.72 1.82 1.85

The euro exchange rate fluctuates against the dollar , while demonstrating a slight increase . Note that the pair continues to rise the third consecutive week , recovering from the levels reached after the rate cut by the ECB. Risk appetite and skepticism about " transparency policy " ECB support the single currency. Today's favorable reports on inflation and unemployment also helped a little growth.

In the statistical agency of the European Union reported that the number of people out of work in 17 countries in the euro zone declined unexpectedly in October , departing from its highest level since April 2011 . According to the report , the unemployment rate in the euro area fell last month to 12.1 %, compared with 12.2% in September, which was a record .

Furthermore, the data showed that the number of people without jobs fell by 61,000 in October , which is largely due to the decline was 41 000 in France - the second largest economy in the monetary area . Nevertheless , without a job are still 19,298 million, 615 thousand more than in the same month last year. We also recall that the last time the unemployment rate fell in 2011 . Decline in unemployment was a surprise to many economists , as they expected that this figure will remain unchanged. But , even though the recession , unemployment remains very high by international standards .

Meanwhile, another report submitted showed that inflation in the eurozone rose to 0.9 percent in November . Note that these data are still preliminary revenge . Many experts expect that inflation will rise by 0.8 percent. Recall that in October of this indicator increased by 0.7 percent. However , despite this growth , inflation remains below the target level of the European Central Bank "below but close to 2 percent " for the tenth consecutive month. We also learned that , excluding the cost of energy , food , alcohol and tobacco , core inflation increased to 1 percent from 0.8 percent.

Pound fell against the dollar, which was associated with the release of a weak report on consumer confidence in Britain. Results of recent studies that have been presented by GfK NOP, showed that confidence among British consumers fell in November , registering with the second monthly deterioration , as they were more concerned about the state of their finances . These results add early signs that the recovery of the UK economy , built largely on consumer spending , could lose momentum in the fourth quarter of this year , as households begin to reduce their costs. Bank of England officials warn that prolonged pressure on workers' incomes due to rising wages lag behind inflation , could undermine the recovery , if the company also will increase their spending in the near future .

Today's data showed that the index of sentiment among households fell unexpectedly in November - to the level of -12 points , compared with -11 points in October . Many economists expect that the value of this indicator will be slightly improved , and reaching -8 points .

Nevertheless , in the GfK NOP reported that the loss of confidence in November was small. Sentiments among the population are much more optimistic than in the previous year was recorded .

Note that the November decline was associated with deterioration of the two sub-indices - personal financial situation and willingness to make major purchases . But , despite this , households have become a little more confident to look at the prospects for the economy in general .

EUR / USD: during the European session, the pair is in the range $ 1.3695 -$ 1.3722

GBP / USD: during the European session, the pair fell to $ 1.6312 from $ 1.6375

USD / JPY: during the European session, the pair dropped to Y102.11 from Y102.60

At 13:30 GMT , Canada will announce the change in the volume of GDP in September.

29.11.2013 13:00


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