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06.03.2014 13:15

European session: The yen declined significantly against the U.S. dollar


00:00 U.S. FOMC Member Richard Fisher Speaks

00:30 Australia Retail sales (MoM) January +0.5% +0.5% +1.2%

00:30 Australia Retail Sales Y/Y January +5.7% +6.2%

00:30 Australia Trade Balance January 0.47 0.11 1.43

01:15 Canada Gov Council Member Macklem Speaks

08:00 United Kingdom Halifax house price index February +1.1% +0.6% +2.4%

08:00 United Kingdom Halifax house price index 3m Y/Y February +7.3% +7.9%

11:00 Germany Factory Orders s.a. (MoM) January -0.5% +1.1% +1.2%

11:00 Germany Factory Orders n.s.a. (YoY) January +6.0% +8.1% +7.1%

12:00 United Kingdom BoE Interest Rate Decision 0.50% 0.50% 0.50%

12:00 United Kingdom Asset Purchase Facility 375 375 375

12:00 United Kingdom MPC Rate Statement

12:45 Eurozone ECB Interest Rate Decision 0.25% 0.25% 0.25%

The euro exchange rate against the dollar has increased markedly , which was associated with the release of positive data on Germany and the ECB's decision to leave rates unchanged. Ministry of Economy of Germany stated that the volume of orders in the manufacturing sector in January rose more sharply than expected, mainly due to strong domestic demand , as well as orders from countries outside the euro area. This suggests that industrial production in Europe's largest economy should continue to grow . According to the report , the orders in the manufacturing sector in Germany to a seasonally adjusted in January increased by 1.2% compared with December . Economists orders were to grow by 1.1 % compared with the previous month . It was also reported that domestic demand rose by 1.6 % m / m in January , while export orders increased by 1 percent. Orders outside the euro area rose by 7.2 %, while inside the unit fell 8.8 % after rising 6.9% in the previous month

Add that may have a significant impact ECB President Mario Draghi , which is scheduled for 15:30 GMT.

Pound fell to session low against the dollar, despite the significant growth earlier that allowed to establish a new high . Such a significant swing pair was noted after the announcement of the Bank of England of its rate decision and asset purchase program . Note that the Bank of England today did not bring any surprises , once again leaving the rate at a record low 0.5%. Last time the Central Bank changed the level of rates March 5, 2009 , lowering it by 0.5% to 0.5%. MPC also decided to keep the size of the asset purchase program at £ 375 billion, the Central Bank said that keep rates at the current level as long as the unemployment rate / p Britain will not fall to the level of 7% , which will not happen until 2016 . Experts point out that it is clear that the authorities want to keep policy accommodative as long as possible , to ensure the stability of the economic recovery. However, the picture on the labor market combined with data on growth suggest that the Bank is unlikely to convince markets that a rate increase .

Little impact on the pound had previously presented data which showed that house prices rose by 2.4 percent in February, compared with an increase of 1.1 percent in January , which significantly exceeded the average forecast experts at 0.6 percent. We also add that in the last three months ( February ), housing prices were 7.9 percent higher than a year earlier, compared with 7.2 percent in the previous three-month period ( January ) . In Halifax reported that the improvement of the economic situation , the fall in unemployment and an increase in confidence helped boost demand , but the pressure on household finances and slowing inflation restrained growth in housing prices .

The yen touched a ten -month low against the dollar after the Japanese government announced that the state pension fund (GPIF), is the largest in the world, no longer need to focus on investment in domestic bonds , taking into account the acceleration of inflation in the country. The report , prepared by the group , says that GPIF should seek opportunities for investment that could bring him an annual income of 1.7% plus the cost of increase of salaries of employees. An additional factor in the decline in the yen , a decrease of interest in safe-haven currency on the basis of some easing of tensions around Ukraine.

EUR / USD: during the European session, the pair rose to $ 1.3774 , and then retreated slightly

GBP / USD: during the European session, the pair rose to $ 1.6752 , but immediately fell to $ 1.6695

USD / JPY: during the European session, the pair rose to Y102.82

At 13:30 GMT will be held monthly press conference of the ECB. At 13:30 GMT , Canada announces the change of volume of building permits issued in January , and the United States announced the change in the level of labor productivity in the non-manufacturing sector for the 4th quarter . At 15:00 GMT , Canada will release the Ivey PMI index from February . At 15:00 GMT the United States will declare to the change in production orders for January.

06.03.2014 13:01


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