Client support: Phone: (+357) 22314160

FX & CFD trading involves significant risk


Show news:

13.07.2016 12:33

European session review: the pound waiting for the outcome of Bank of England's meeting

The following data was published:

(Time / country / index / period / previous value / forecast)

7:00 China Trade balance, bn June 49.98 46.64 46.56

9:00 Eurozone Industrial Production m / m in May 1.4% -0.8% -1.2%

9:00 Eurozone Industrial Production y / y in May 2.2% 1.4% 0.5%

The euro rose moderately against the dollar, recovering from declines in the first half of the session. Support for euro was the renewed investor demand for risky assets. In addition, the euro followed by the British pound, which is the main topic of traders on the eve of the scheduled for Thursday monetary policy meeting.

Eurostat Statistical Office reported a seasonally adjusted volume of industrial production in the euro area fell in May by 1.2% after rising 1.4% in the previous month. Experts predicted a decrease of 0.8%. Among the EU countries, industrial production decreased by 1.1% after rising 1.5% in April. On an annual basis, industrial production increased by 0.5% in the euro area and by 1.1% in the EU. It was expected that production in the euro zone will grow by 1.4% after rising 2.2% in April. Among the Member States, the largest decline in industrial production was recorded in the Netherlands (-7.8%), Portugal (-4.4%), Greece (-4.3%) and Romania (-4.0%). The increase was recorded in Lithuania (+ 3.9%), Latvia (+ 2.4%), Slovenia (+ 0.6%) and Malta (+ 0.3%).

The pound traded mixed against the dollar, while remaining a relative tight range. The positive impact for the currency was a decrease in uncertainty around Brexit influenced by recent changes in the UK Government. Meanwhile, against the backdrop of the lack of British data the pair is focused on the dynamics of stock markets and the overall mood of the players.

Investors are also waiting for the meeting of the Bank of England, which is scheduled for tomorrow. After the referendum, the head of the Central Bank Carney considering the possibility of easing monetary policy. It is likely that steps will be taken at the upcoming meeting. It is expected that the Central Bank to lower interest rates 0.25% for the first time since March 2009.

The yen fell against the dollar, returning to the opening levels. Earlier today, the yen strengthened after Japan Esihide Suga denied media reports that Prime Minister Abe is considering "helicopter money" (direct purchases of government bonds by the Central Bank to finance government spending or tax cuts). In addition, he said that the government plans to carry out large-scale stimulus measures in order to overcome deflation.

A certain pressure on the yen has had a dramatic revision of the forecasts for GDP growth and inflation by the Government of Japan. Explaining this decision, the Government pointed to the increase in uncertainty about the global economy, weak domestic consumption and sluggish investment. Now it is expected that in the current fiscal year which ends March 30, GDP growth adjusted for inflation will be 0.9%. Earlier this year, GDP growth is expected at 1.7%. The forecast for inflation was reduced to 0.4% versus 1.2% previously. The Government also stated that in 2017 forecasts GDP growth of 1.2% and a rise in inflation to 1.4%.

EUR / USD: during the European session, the pair has risen to $ 1.1080

GBP / USD: during the European session, the pair is trading in the $ 1.3219- $ 1.3330 range

USD / JPY: during the European session, the pair rose to Y104.85

Market Focus

  • U.S.: Industrial Production (MoM), September 0.1% (forecast 0.2%)
  • Britain can't get full single market access with free movement concessions - Merkel
  • Earnings Season in U.S.. Major Reports of the Week
  • New Zealand CPI, 3Q: 0.2% q/q (forecast 0%), 0.2% y/y (forecast 0.1%)
October 2016
  • 2016
  • 2015
  • 2014
  • 2013
  • 2012
  • 2011
  • 2010
  • 2009
  • 2008
  • 2007
  • 2006
  • 2005
  • 2004
  • 2003
  • 2002


All posted material is a marketing communication solely for informational purposes and reliance on this may lead to loss. Past performance is not a reliable indicator of future results. Please read our full disclaimer.

To maximize our visitors browsing experience TeleTrade uses cookies in our web services. By continuing to browse this site you agree to our use of cookies. If you disagree, you may change your browser settings at any time. Read more

  • © 2011-2016 TeleTrade-DJ International Consulting Ltd

    TeleTrade-DJ International Consulting Ltd is registered as a Cyprus Investment Firm (CIF) under registration number HE272810 and licensed by the Cyprus Securities and Exchange Commission (CySEC) under license number 158/11.

    The company operates in accordance with Markets in Financial Instruments Directive (MiFID).

  • The information on this website is for informational purposes only. All the services and information provided have been obtained from sources deemed to be reliable. TeleTrade-DJ International Consulting Ltd ("TeleTrade") and/or any third-party information providers provide the services and information without warranty of any kind. By using this information and services you agree that under no circumstances shall TeleTrade have any liability to any person or entity for any loss or damage in whole or part caused by reliance on such information and services.

  • TeleTrade cooperates with SafeCharge Limited, which is an electronic money institution authorized and regulated by the Central Bank of Cyprus and is a principal member of MasterCard Europe and Visa Europe. We also cooperate with Moneybookers and Neteller, which offer electronic e-wallet services authorized and regulated by the Financial Conduct Authority.

    Please read our full Terms of Use.

  • To maximize our visitors browsing experience TeleTrade uses cookies in our web services. By continuing to browse this site you agree to our use of cookies. If you disagree, you may change your browser settings at any time. Read more

    TeleTrade-DJ International Consulting Ltd currently does not provide its services to residents or nationals of the USA, and also doesn't provide retail Forex and CFD accounts to residents or nationals of Belgium.

Служба технической поддержки:

  • Онлайн-консультация
  • Заказать звонок
  • Написать письмо
Connect with Us
Share on
social networks
Request a callback
Top Page