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03.05.2013 18:20

American focus: the European currency managed to recover almost all lost ground

The euro exchange rate rose sharply against the dollar, what happened after the fall of the same material. Note that the initial depreciation of the euro contributed to a report from the U.S. Department of Labor, which showed that by the end of last month the number of people employed in non-agricultural sectors of the economy increased markedly, and the unemployment rate fell again, that more and more points to sustained economic growth. According to the report, in April, employers added 165,000 jobs, compared with the figure for the previous month on the level of 138 thousand note that according to the average forecast of experts, the number of jobs was up by 140 thousand Meanwhile, it was revealed that the level of unemployment rate fell by 0.1% to 7.5% as more people find jobs. That was the lowest unemployment rate since December 2008. Note that this figure is forecast was to remain unchanged. The good news is that the figures for the previous two months were revised to a significant increase - in general, to 114,000 (138,000 jobs in March, compared with the 88 000 initially and 332 000 jobs in February, compared to 268,000 as previously reported). Revised data for February are the highest since May 2010.

But in spite of these positive findings, and later the euro still unable to recover their position than helped report from the U.S. Commerce Department, which showed that demand for manufactured goods in the U.S. fell in March, adding to evidence that the manufacturing sector has begun to slow within a month. According to the report, the seasonally adjusted volume of orders for manufactured goods fell in March by 4.0% to $ 467.29 billion, completely blocking a February growth of 1.9%, which was revised down from 3.0 % gain. Note that according to the average forecasts of experts, the volume of orders was down only 0.2%. As it became known, at the head of such a significant downturn faced declining demand for durable goods, including aircraft, defense products and metals. It should be noted that the demand for civilian aircraft and parts fell in March by 48.3%, orders for metals decreased by 3.2%, while demand for cars slipped by 0.8%. Meanwhile, we note that orders for non-durable goods fell 2.4%, while the oil sector fell by 7.3% in March, partly reflecting a decline in prices. Orders in the food processing sector, clothing and chemical products also fell during the month. Economists note that the weak overall demand for industrial products is consistent with other measures, which shows a slowdown in the manufacturing sector.

The pound showed the same trend as the currency pair EUR / USD, which was a reaction to the U.S. employment data. We add that the original factor that contributed to the increase in the value of British currency was a report that showed that the business activity index for the service sector of the UK in April rose to 52.9 against expectations rising to 52.5 points from 52.4 points the value of the March . Today's data confirmed the trend of improvement, which earlier this week showed the indicator for the industrial sector and the construction sector. Note that among the UK PMI index only the index for the services sector indicates expansion of the sector (the figure for the sector is held above the level of 50 points, while the corresponding figures for the construction sector is 49.4 and Industrial 49.8 points ).

03.05.2013 17:20

European stock close:

Market Focus

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  • Australian unemployment rate stable at 5.6% in June
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