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22.05.2015 18:20

American focus: the US dollar significantly higher against most major currencies

Dollar rose significantly against the euro, reaching $ 1.1000, which was caused by the publication of data on the US CPI. Recall, the consumer price index, which reflects the fact that Americans pay for everything from breakfast cereal to medical care, increased a seasonally adjusted 0.1% in April compared with the previous month. Except for the volatile categories of food and energy, so-called core prices have risen 0.3%, the largest increase noted since January 2013. Economists had expected overall prices will rise by 0.1% and core prices to rise 0.2%. Compared with a year earlier, overall prices fell 0.2%, while core prices rose 1.8%. The Consumer Price Index, as well as most of the indicators of inflation began to fall fairly steadily in the middle of last year. The decrease mainly reflects the decline in the cost of a barrel of crude oil, which topped $ 100 in the summer, but then fell below $ 50 earlier this year. Prices since then have strengthened to about $ 60. Strengthening the dollar also affected the prices, keeping the cost of imported goods and services.

The report Friday showed that energy prices fell 1.3% from March, and gasoline prices were down 1.7%. Food prices were unchanged compared with the previous month. Changing the basic price was due to the rising cost of housing, medical care, furniture and vehicles. The prices of clothing and air tickets fell.

The Canadian dollar dropped significantly against the US dollar, approaching to the lowest since April 16 after US data were better than expected, and the statistics for Canada a little disappointed. As previously reported, Canadian consumer prices rose in April, the slowest pace in 18 months due to the largest drop in energy prices since 2009. Core inflation has expanded on an annual basis by more than 2% of the ninth month in a row, although it was slightly below the recent six-year high. The Consumer Price Index in Canada rose 0.8% in April compared with a year earlier. Expectations of economists were at the level of growth by 1%. The annual rate of core inflation, which excludes volatile components such as some food prices and energy prices, rose 2.3%. Expectations were experts at an increase of 2.4%, or unchanged compared with the previous month.

Meanwhile, another report showed that Canadian retail sales rose in March at a faster than expected pace, albeit amid disappointing volumes, led by activity in showrooms, shops and the sale of alcohol. In March, retail sales rose 0.7% to a seasonally adjusted level reached 42.47 billion. Canadian dollars ($ 34.79 billion.). Market experts expect an increase of 0.3%. The volume of retail sales rose by a more modest 0.1%. On an annual basis, retail sales increased by 3.1%.

The pound depreciated significantly against the dollar, losing more than 180 points and reached the lowest level since May 20, which was associated with the widespread growth of the dollar after strong inflation figures. Little support was provided by the statements of the Bank of England Carney, who will speak at the conference of the ECB said that Britain must reduce the fall in output over the next year, performance should gain traction, and the main cause of low inflationary pressure in recent years - cheap food and energy. ..

Also today, it was announced that the UK budget deficit narrowed in April compared with the previous year. Net public sector borrowing (PSNB) excluding banks fell by 2.5 billion pounds to 6.8 billion pounds in April. This decrease in net debt is largely due to a decrease in net borrowing of the central government by 4.1 billion pounds, partially offset by an increase to 1.8 billion pounds net borrowing of local government. Income tax rose by 0.6 billion pounds, or 11.3 percent, and payments related to income tax rose by 0.4 billion pounds, or 3.7 percent. In the fiscal year ending in 2015, PSNB decreased by 10.8 billion pounds from last year to 87.7 billion pounds.

22.05.2015 16:46

WSE: Session Results

Market Focus

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  • New Zealand CPI, 3Q: 0.2% q/q (forecast 0%), 0.2% y/y (forecast 0.1%)
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