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13.02.2014 19:20

American focus : the euro has appreciated significantly against the U.S. dollar

The euro exchange rate has risen considerably in relation to the U.S. dollar , which was mainly due to the publication of the ECB's Monthly Report and inflation data for Germany. Note that in his February report ECB hinted that inflation in the euro area should remain low for an extended period of time before it starts to gradually recover to the target of 2%. " Comparison with the monetary analysis confirms the reduced prices in the euro area in the medium term ," said the ECB.

According to a study of professional forecasters , forecast HICP in 2014 was revised to 1.1 % from 1.5% previously . Forecast for 2015 was lowered to 1.4 % from 1.6 % in Q4 . , The forecast for 2016 was 1.7 %.

With respect to data for Germany , inflation, agreed by EU standards , remained unchanged in January, according to preliminary estimates . These are the latest data from the Federal Statistical Office. Harmonized index of consumer prices (HICP) increased by 1.2 percent per annum in January , the result was unchanged compared with the growth rate in December . Outcome corresponded to preliminary estimates . HICP fell by 0.7 percent compared to December , when it recorded a growth of 0.5 percent . Monthly changes are also consistent with preliminary estimates .

Also had little impact on the U.S. data , which showed that retail sales fell 0.4 percent last month , led by a drop in car sales . Sales fell by a revised 0.1 percent in December . Economists had forecast that retail sales will be unchanged in January after rising 0.2 percent in December , which was reported earlier.

Meanwhile, another report showed that the number of initial claims for unemployment benefits , a measure of layoffs, increased by 8000 and amounted to a seasonally adjusted 339,000 in the week ended February 8. The result was slightly higher than the 331,000 projected by economists. Meaning last week 331,000 remained without revision.

Pound rose moderately against the dollar , helped by a positive report on Britain. Monthly survey , which was presented today by the Royal Institution of Chartered Surveyors showed that house prices continued to rise last month, which was due to inventory homes near four-year low . According to the balance housing prices fell in January to 53 percent from 56 percent for December . Recall that the house price balance is calculated by subtracting the number of respondents who reported a fall in prices , and those who said that house prices rose .

The survey also showed that the average number of homes for sale through a real estate agency in January fell to the level of 59 units ( the lowest level since mid-2009 ) , compared with 60.4 units in December. It was also reported that respondents continue to expect prices to rise over the next year , which is also confirmed by other indicators of the housing market . Add that average prices were below the pre-crisis peak in 2007 , but they are moving fast towards this level.

Staying vigilant about the housing market , economists and politicians , however, argue that the "bubble" in the housing market is not a threat at the moment.

The Canadian dollar rose against the U.S. dollar , which was associated with the release of data on Canada. As it became known , Canadian prices for new homes rose slightly in December , while the increase at an annual rate showed the slowest 12-month increase in nearly four years .

Prices for new homes across the country increased by 0.1 % on a monthly measurement in December. Note that prices for new homes in the previous month showed zero change . 12 -month basis , prices rose by 1.3% , which corresponded to the market consensus forecast and represented the weakest 12-month gain since February 2010 . Rising prices in monthly terms led the Greater Toronto, where the cost of a new home rose 0.2%, the largest increase since July. In 2013, the average annual increase in the price of new homes was 1.8 % , compared with 2.4 % in the previous year , and became the smallest increase since 1999.

13.02.2014 18:20

European stock close

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