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26.02.2016 19:21

American focus: the US dollar has appreciated significantly against major currencies

Dollar rose significantly against the euro, which was mainly due to the publication of better than expected US GDP data. Additional support was provided by the statistics on personal income and spending American consumers. The Commerce Department said the US economic growth slowed in the fourth quarter, but not as sharp as originally anticipated, while the business has become less aggressive in the reduction of unwanted stocks of efforts that could damage the release during the first three months of 2016. Gross domestic product grew by 1.0 per cent per annum instead of the previously reported rate of 0.7 percent, it said on Friday in its second estimate of GDP. Economists had expected GDP growth in the fourth quarter will be revised down to 0.4 percent. The economy grew at a rate of 2.0 percent in the third quarter. Companies have accumulated reserves of $ 81.7 billion. Instead of $ 68.6 billion., Reported last month. This represents an upward revision of the adjustment of reserve estimates. The revision to the increase in GDP growth in the fourth quarter also reflects the lower trade deficit than initially anticipated, as imports fell. The trade deficit subtracts 0.25 percentage points from GDP growth instead of 0.47 percentage points, reported in the last month. Business spending on equipment decreased only by 1.8 percent last quarter, compared with the previous rate of 2.5 percent. Business spending on non-residential structures fell 6.6 percent rather than 5.3 percent, of which the government reported last month. Government spending fell by 0.1 percent instead of 0.7 percent.

Another report showed that personal income and spending in the US rose more than expected in January. Revenues of natural persons increased by 0.5 percent in January after rising 0.3 percent in December. Economists had expected income to increase by 0.4 percent. Disposable personal income, or personal income less personal current taxes, also increased by 0.5 percent in January after rising 0.3 percent the previous month. Personal spending rose 0.5 percent in January after being up 0.1 percent in December. Costs are expected to increase by 0.3 percent. The actual costs that are adjusted to remove price changes, increased 0.4 percent after rising 0.2 percent in December.


Yen declined significantly against the dollar, reaching a low of February 18 on the back of strong US data, which were published recently. Investors also gradually turn their attention to the report on employment in the US non-farm sector, which will be released next week. TD Securities analysts believe that the US report on the labor market does not justify the consensus and will be released in the area of ​​170 thousand. The level of b / r is likely to rise from 4.9% to 5%. In general, the report will reflect the weak and fading positive momentum of economic growth. However, given the nature of this report, it is unlikely to somehow clarify the situation as to where to move the US economy. As a result, on the eve of the March meeting of the Fed's market reach again the uncertainty as to what position the Committee. Meanwhile, the head of the Federal Reserve Bank of Cleveland Mester said that a decision on monetary policy at the March meeting will be taken depending on the current situation, adding that a gradual increase in rates - is still the right way.

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