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07.04.2014 18:20

American focus : the European currency rose against the U.S. dollar

The euro exchange rate has risen considerably against the dollar on better forecasts published statistics and publication of minutes of the Fed's expectations . Note that investor confidence in the eurozone unexpectedly strengthened in April , showed on Monday poll , conducted by the research center Sentix. Investor sentiment index rose to 14.1 in April , its highest level since April 2011, from 13.9 in March. According to forecasts , the index was down to 13.7 . Assessment of the current situation rose to 5.8 from 4.8 points in the previous month . The result was the highest since July 2011 . Meanwhile, the expectations index fell for the second consecutive month in April , to 22.8 from 23.5 in March.

Meanwhile, it became known that the index of industrial production in Germany grew faster than expected in February , said the country's statistics office on Monday , showing a strong start in Europe's largest economy this year. Industrial production increased by 0.4 % per month , adjusted in February , beating economists' expectations +0.3 % m / m Value in January was revised downward to 0.7 % from 0.8 %. During the year, industrial production increased by 4.8 % in February.

Support for the single currency was a representative of the ECB Nowotny comments . Member of the Management Board of the European Central Bank Ewald Nowotny said that he still believes the risk of deflation in the euro zone limited , adding : ECB has a wide range of tools in case you need . Nowotny said that there is a wide range of tools , but not a priority.

As for the future launch of quantitative easing (QE), then Nowotny does not exclude any type of asset purchases , if necessary , but he personally prefers buying securities , asset-backed (ABS). Nowotny added that the need to strengthen the ABS market in the eurozone. Nowotny also voiced expectations of renewed growth in the prices of services in Germany in the near future , which should alleviate the problem of low inflationary pressures.

The Swiss franc has appreciated significantly against the U.S. dollar , which helped to data presented today . As it became known , Swiss consumer prices remained unchanged in March , while the predicted drop of 0.2 percent , the Federal Statistical Office reported : consumer prices remained unchanged after falling 0.1 percent in February . On a monthly measurement of the consumer price index rose 0.4 percent after rising 0.1 percent in February . It was the fastest growth since March 2012 . Swiss National Bank last month predicted that consumer prices will remain unchanged in 2014 and grow by 0.4 percent next year . The Bank has designated the international decline in inflation and a somewhat stronger Swiss franc as factors that inhibit the growth of inflation in the positive zone .

Another report showed that the volume of foreign exchange reserves of the Swiss National Bank in March rose to 438 billion Swiss francs ( U.S. $ 491.5 billion ), compared with 433.6 billion francs in February. This is stated in the data published on Monday the central bank of Switzerland. The volume of foreign exchange reserves roughly equivalent to the volume of Swiss sight deposits , the amount of which has not changed at the end of March compared with the previous month , indicating that the low activity of the Swiss National Bank in the currency markets . Demand deposits , or funds that commercial banks hold at the Swiss National Bank , can be easily converted into cash . Last year, foreign exchange reserves accounted for approximately 70 % of GDP, whereas prior to the financial crisis in 2008 , the ratio was less than 10% .

The Canadian dollar rose slightly against the U.S. dollar , receiving support from a quarterly survey released today by the Bank of Canada . As it became known , the Canadian business continues to be optimistic on the prospects for sales by strengthening U.S. economy and a weaker Canadian dollar , but notes that competition limits the ability to shift the increase in incoming costs on to consumers. Plans for investment and employment were the highest in almost two years , the pressure on production capacity increased , but most companies expect that inflation will remain under control. Central Bank conducted a survey on February 18 - March 13 , after the release of stronger than expected economic data in Canada , and the results do not show the probability of potential interest rate cuts . However, competition makes it impossible to price increases and a weaker Canadian dollar leads to an increase in purchase prices , so the Bank of Canada probably will not hurry to raise rates.

07.04.2014 17:21

European stock close

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