Market news

5 July 2012

European session: the euro fell

Data

01:30 Australia Trade Balance May -0.20 -0.51 -0.285

07:00 United Kingdom Halifax house price index June +0.5% -0.3% +1.0%

07:00 United Kingdom Halifax house price index 3m Y/Y June -0.1% -0.8% -0.5%

10:00 Germany Factory Orders s.a. (MoM) May -1.4% +0.2% +0.6%

10:00 Germany Factory Orders n.s.a. (YoY) May -3.4% -6.0% -5.4%

11:00 United Kingdom BoE Interest Rate Decision - 0.50% 0.50% 0.50%

11:00 United Kingdom MPC Rate Statement -

11:45 Eurozone ECB Interest Rate Decision - 1.00% 0.75% 0.75%

12:15 U.S.DP Employment Report June 133 101 176


During the European session, the euro traded cautiously to the ECB's decision regarding interest rates. After application of the reduction rate to the level of 0.75% euro fell sharply, despite the fact that this decision, many analysts predicted. After this news demand for the dollar has risen sharply, which caused its purchase in huge quantities. Now the dollar is growing relative to other major currencies. Pound during the session rose sharply after the announcement of the Bank of England decision on interest rates, which remained the same. Also on the growth of the pound has affected the bank's accompanying statement, which caused an unprecedented enthusiasm among market participants. But the growth did not last long, because after the announcement of the ECB to lower interest rates the dollar rose, causing a depreciation of the pound. Significant growth is also now shown commodity exchange, which was caused by a statement of the People's Bank of China to lower rates for loans and deposits. This news caused a great interest in buying these currencies. In this regard, the Australian and New Zealand dollar reached its maximum value, updating the previous day's highs. The Canadian dollar also reacted positively to the news and declined to levels nearly two month low.



EUR / USD: during the European session the pair was trading with a slight decline, but fell sharply after the decision of the ECB and is now trading near the 1.2410 level

GBP / USD: a pair of rose sharply at later returned to their previous levels and is now trading near the minimum values ​​of the session

USD / JPY: during the session, the pair dropped by then abruptly increased and is now near the maximum values ​​of the previous day.


At 12:30 GMT the euro area will be press conference of the ECB. At the same time there are data on initial applications for unemployment benefits. At 14:00 GMT the U.S. will be published by PMI in service in June. Finish the day at 15:00 GMT U.S. data on the change oil according to the Department of Energy.

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