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27.01.2014 19:20

American focus : the pound has risen considerably against the U.S. dollar

The dollar traded slightly higher against the euro , though lost some previously won positions . We add that the growth of the U.S. dollar due to the expectations that the Federal Reserve will continue to minimize the quantitative easing program at the January meeting . More and more people are inclined to believe that the Fed will simply continue to reduce QE. In general, the economic recovery is strong enough , despite the recent negative statistical data from the United States. According to the median forecast of economists at the next meeting of the FOMC, which will be held January 28-29 , CB again reduce monthly asset purchases to $ 10 billion

Exerted pressure on the currency report , which showed that sales of newly built homes fell by 7% to a seasonally adjusted annual rate of 414,000 in December from 445,000 in November. Result November was revised down to 19,000 . Economists had forecast an annual rate of new home sales at 457,000 in December , although many of them noted that the unusually cold and windy weather may have contributed to the sales activity . New home sales in December were the weakest since the summer months , when mortgage rates jumped in response to reports that the Federal Reserve plans to reduce its bond-buying program .

Pound has risen considerably against the U.S. dollar , offsetting more than half the losses incurred in the last session . Add that traders continue to actively speculate that the Bank of England may be the first of the leading CB who will raise the interest rate. In addition, the growth of currency help expectations of tomorrow's publication of GDP data for the fourth quarter . Recall that in the third quarter of the UK economy grew at an annualized rate of 1.9 percent, while fixing the third consecutive quarterly increase and raising hopes that the UK economy has moved to let the recovery. It is expected that the GDP data for the fourth quarter show that the UK economy has continued to expand. Experts note that even if the pace of growth will be slightly slower , it probably will not affect the monetary policy of the Bank of England.

The yen traded lower against the U.S. dollar , despite the sharp rise at the opening of trading . Experts note that the attractiveness of the yen as a safe-haven currency continues to decline against the backdrop of an aggressive policy easing implemented by the Bank of Japan, and the deterioration in the current account balance of the country. As it became known , in December Japan's trade deficit remained at a high level JPY1.15 trillion . , Only slightly suzivshis compared with the November result JPY1.29 trillion . Import growth is likely to receive support due to a surge in demand in anticipation of increase in April sales tax. This process helps to neutralize the effects of growth of real exports , and eventually trade should be small brake in real GDP in the 4th quarter . In addition , the expected current account deficit in the 4th quarter . also help to contain the potential for strengthening of the yen in the short term .

27.01.2014 18:20

European stock close

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