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23.04.2015 18:20

American focus: the dollar dropped significantly against major currencies

The dollar depreciated significantly against the euro, breaking the mark of $ 1.0800, which was associated with the publication of weak US data. The Labor Department said that the number of Americans who first applied for unemployment benefits, increased slightly last week but remained at a level that indicates that the economy has been steadily adding jobs. Initial claims for unemployment insurance, an indicator of layoffs throughout the US economy grew by 1000 and reached a seasonally adjusted 295,000 in the week ended April 18. On Thursday. Economists had expected 290,000 hits. The data for the previous week were revised. The four week moving average of initial claims, which smooths weekly volatility, rose by 1750 to 284 500. This is slightly above the post-crisis minimum 282,500 made earlier this month. The report also showed that the number of repeated applications for unemployment benefits rose by 50,000 to 2.33 million in the week ended April 11. And the four-week moving average of continuing claims is the lowest rate since December 2000.

Meanwhile, the data provided by the Ministry of Commerce, showed that new home sales fell sharply in March, becoming another sign of fluctuating demand for housing, despite the persistently low mortgage rates and steady job growth. New home sales fell by 11.4% in February and to a seasonally adjusted annual rate reached 481 000. Thus ended three months of strong growth, and noted the sharpest decline since July 2013. Economists had expected sales to decline to the level of 514 000. The report on Thursday showed that sales in the previous months were stronger than previously thought. Over the past year, the purchase of new homes rose by 19.4%. The average price of a new home, which was sold in March was $ 277,400, which is 1.7% lower than a year earlier. The ratio of supply of homes, which reflects how much time it would take to exhaust all the houses on the market given the pace of sales in March rose to 5.3, the highest level since November.

The pound rose sharply against the dollar, having played all positions previously lost today, and updating the maximum session, which was caused by the release of weak statistics on the US housing market. Earlier today the pound came under pressure against the publication of data on retail sales in the UK. Office for National Statistics said retail sales, including automotive fuel, decreased by 0.5 percent on a monthly basis in March, offset by an increase of 0.6 percent in February. It was the first decline in six months. Economists had forecast growth of 0.4 percent in March. Sales in food stores rose 0.4 percent, while the volume of non-food sales fell 0.1 percent in February. Except automotive fuel, sales rose by 0.2 percent from the previous month, slower than the 0.6 percent increase in February, and the expected growth of 0.5 percent. In annual terms, retail sales, including automotive fuel, rose 4.2 percent after rising 5.4 percent in February. It was expected that sales growth will be 5.4 per cent again. Meanwhile, growth in sales excluding automotive fuel improved to 5 percent from 4.8 percent. But was weaker than expected expansion of 5.5 percent.

The Swiss franc has appreciated significantly against the US currency returned with all the ground lost during the last session. Support the currency had data on the trade balance in Switzerland, as well as weak statistics on the US housing market. Recall, the trade surplus fell to 8.2 billion Swiss francs for the three months ended in March, from 8.4 billion Swiss francs in the previous quarter. In real terms, exports fell by 1.7 per cent per annum in the first quarter, in contrast to the 0.4 percent growth in the previous quarter. At the same time, imports increased by 0.8 per cent in the March quarter, replacing the 1.8 percent fall in the fourth quarter. In nominal terms, exports and imports decreased by 1.4 percent and 4.4 percent, respectively. In March, the trade surplus rose to 2.5 billion Swiss francs to 2.3 billion Swiss francs in the previous month. He was expected to fall to 2.16 billion Swiss francs. Exports rose by 4.2 percent in real terms 17.9 billion Swiss francs in March year on year. In nominal terms, the volume of deliveries rose by 3.2 percent. Imports reached 15.4 billion Swiss francs, which is 6.8 percent higher in real terms by 0.7 per cent higher in nominal terms.

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