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03.04.2013 12:00

European session: the euro is traded upward


00:00 Australia HIA New Home Sales, m/m February +4.2% -5.3%

00:30 Australia Trade Balance February -0.18 -1.00 -1.22

01:00 China Non-Manufacturing PMI March 54.5 55.6

01:45 China HSBC Services PMI March 52.1 54.3

08:30 United Kingdom PMI Construction March 46.8 47.7 47.2

08:30 United Kingdom BOE Credit Conditions Survey Quarter I

09:00 Eurozone Harmonized CPI, Y/Y (Preliminary) March +1.8% +1.6% +1.7%

The euro rose against the dollar, recovering from the minimum value, and setting all the new session high, as many market participants are expecting that the European Central Bank at its meeting tomorrow may signal a readiness to take place in the near future economic stimulus program. Meanwhile, on the dynamics of trade affected the data showed that the level of consumer price inflation in the euro area slowed in March, which was the third consecutive monthly decline, but less than economists forecast, driven by slower growth in energy prices. According to the report, the harmonized index of consumer prices rose last month by 1.7% year on year in March, compared with an increase of 1.8% in February and forecast at around 1.6%. It is learned that the greatest contribution to the overall increase in prices brought food, alcohol and tobacco prices, which rose by 2.7% per year, which corresponds to an increase, which was recorded in the previous month. At the same time, the report showed that energy prices have also increased at a slower rate - by 1.7%, compared with an increase of 3.9% in February.

The pound rose against the dollar after a report on the state of the UK loan market, which was introduced by the Bank of England showed that many lenders claim that the program loan financing (FLS) reduces the cost of borrowing for companies, households. Survey also indicates that small companies benefit from FLS less than medium and large companies. Meanwhile, lenders have reported a significant increase in demand for loans from small and large companies in the 2nd quarter, but did not see significant changes in the availability of credit to companies in the 2nd quarter.

Yen range against the dollar, due to the fact that today began a two-day meeting of the Bank of Japan in the new composition. Most economists expect that the outcome of the April meeting of the Bank of Japan will increase the asset purchase program and go to purchase medium-and long-term government bonds. Kuroda has repeatedly reaffirmed the intention to do everything possible to end deflation in Japan, which has lasted for a decade and a half, and put the economy on consumer price growth of 2% in two years. The new head of the Japanese Central Bank plans to achieve the target by increasing the volume of asset purchase program, as well as by changing the structure of the program.

The Australian dollar has increased significantly against most major currencies after the spacecraft data showed that Australia's trade balance for the last month has changed suddenly. In the report, the Australian Bureau of Statistics noted that the rate of the seasonally adjusted change in February to -0.18 from -1.22 billion billion Note that the figure for January was revised from -1.06 billion analysts had expected the trade deficit will rise to -1.00 billion

EUR / USD: during the European session, the pair rose to $ 1.2837

GBP / USD: during the European session, the pair rose to $ 1.5128

USD / JPY: during the European session, the pair is in the range Y93.30-Y93.70

At 12:15 GMT the U.S. will announce the change in the number of employees from ADP in March. At 14:00 GMT the U.S. will composite index ISM non-manufacturing areas in March. At 22:30 GMT Australia will present the index of activity in the service sector of the AiG in March.

03.04.2013 11:45


Market Focus

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  • Eurozone: Consumer Confidence, January -4.9
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