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06.12.2012 13:15

European session: ECB and Bank of England coincided with forecasts

 

 

06:45 Switzerland Unemployment Rate November 3.0% 3.0% 3.0%

08:00 United Kingdom Halifax house price index November -0.7% +0.2% +1.0%

08:00 United Kingdom Halifax house price index 3m Y/Y November -1.7% -1.9% -1.3%

08:15 Switzerland Consumer Price Index (MoM) November +0.1% 0.0% -0.3%

08:15 Switzerland Consumer Price Index (YoY) November -0.2% -0.1% -0.4%

09:30 United Kingdom Trade in goods October -8.4 -8.7 -9.5

10:00 Eurozone GDP (QoQ) (revised) Quarter III -0.1% -0.1% -0.1%

10:00 Eurozone GDP (YoY) (revised) Quarter III -0.6% -0.6% -0.6%

11:00 Germany Factory Orders s.a. (MoM) October -2.4% +0.9% +3.9%

11:00 Germany Factory Orders n.s.a. (YoY) October -4.7% -5.6% -2.4%

12:00 United Kingdom BoE Interest Rate Decision - 0.50% 0.50% 0.50%

12:00 United Kingdom Asset Purchase Facility - 375 375 375

12:00 United Kingdom MPC Rate Statement -

12:45 Eurozone ECB Interest Rate Decision - 0.75% 0.75% 0.75%

 

Euro is rising against the dollar against the decision of the ECB to leave rates unchanged at 0.75%, which was in line with the forecast. The focus of speech Draghi, scheduled for 13.30 GMT, during which the head of the ECB will comment on the decision.

The single currency fell after a report showed that the eurozone economy fell into recession for the second time in the last four years because of slowing trade and reducing government spending. Eurozone GDP fell by 0.1% against 0.2% in the 2nd quarter, as reported today by statistics office in Luxembourg. The annual equivalent rate fell to 0.6% from 0.4% the previous quarter. Government spending fell by 0.2% vs. -0.1%.

November 27 the European authorities who are trying to overcome the crisis, which began in 2009, eased conditions for the provision of aid to Greece and expect to buy back debt. But economists are not sure that this will be enough to save the troubled countries in the region.

In annual terms industrial orders in Germany fell by 2.4% y / y vs. -3.9%, as shown by the Bundesbank, released today. In monthly terms orders rose by 3.9% DM. against 2.4% the previous month. Analysts expected to rise by 0.9%.

In addition, in September, the unemployment rate in Greece has reached a new record high of 26% against 25.3% in August.

The British pound rose against the dollar amid data showing that Britain's trade deficit widened more than expected. In October, the trade deficit widened amid a sharp drop in exports to countries outside the EU, as well as due to increased imports from the U.S., as reported today by the National Office of Statistics. Deficit widened more than expected analysts to Stg9.539 billion from - Stg8.439 billion the previous month, while economists had expected that figure will-Stg8.6 billion Imports rose by 2.5% m / m, While export volumes declined by 1%.

Today the Bank of England decided to leave interest rates at 0.5% and the volume of the program of asset purchases 375 billion pounds, as expected. Minutes of the meeting will be published by the Central Bank on Wednesday, December 19. The interest rate has remained at 0.5% since March 2009, while the asset purchase program was expanded by 50 billion to £ 375 billion July 5, 2012.

EUR / USD: during the European session, the pair fell to a new intraday low of $ 1.3041, and then rose to $ 1.3086

GBP / USD: during the European session the pair fell to the low of $ 1.6077, and then rose to $ 1.6127

USD / JPY: during the European session the pair fell to Y82.31

 

At 13:30 GMT, Canada will release the change in volume of building permits issued in October. At 13:30 GMT to begin monthly press conference of the ECB. At 13:30 GMT the U.S. will publish the number of initial claims for unemployment insurance, the number of repeated applications for unemployment benefits. At 15:00 GMT in Canada comes from the PMI index Ivey (seasonally adjusted) from the Ivey PMI index for November. At 15:30 GMT the Bank of Canada will publish a review of the financial system for the 2nd half.


06.12.2012 13:02

Orders

Market Focus

  • Donald J. Trump was inaugurated as the 45th president of the United States
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  • U.S.: Nonfarm Payrolls, January 227 (forecast 175)
  • Eurozone: Consumer Confidence, January -4.9
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