Client support: Phone: (+357) 22314160

FX & CFD trading involves significant risk


Show news:
  • All news
  • Currencies
  • Stocks
  • Commodities

06.11.2013 19:20

American focus : the dollar fell against the euro

The euro exchange rate rose sharply against the dollar, although it has lost some of the previously won positions in response to rumors that report , quoting official sources in the ECB that the decline in inflation does not become a reason to lower the rates of the Central Bank at tomorrow's meeting.

Now the pair continues to consolidate above the key level of 1.3500 , and all the attention of market participants have already drawn for tomorrow's ECB meeting . Meanwhile, traders are walking among rumors of a possible lowering of rates or operated other instrument of monetary stimulus .

If the ECB decides tomorrow to leave rates unchanged , likely rally EUR / USD will be much less extensive than the fall , which could determine the reduction rate by 25 basis points This is due to the fact that after the announcement of the decision itself (presumably - the abandonment rate at the same level ), attention switches to the markets of the subsequent press conference , the tone of which can be very dovish , and will assume or the inclusion of the ECB dictionary of vocabulary or allusions to measures - and potentially aggressive - in the future . "

The pound traded higher against the dollar, while retreating from a session high . Note that initially helped the growth of currency data on industrial production in the UK , which showed that total production rose by 2.2 percent year on year in September , after falling 1.5 percent in August and 1.1 percent decline in July. The consensus forecast of economists was at 1.8 percent.

In addition, the data showed that manufacturing output increased by 0.8 percent annually in September. This happened after falling 0.2 percent in August and 0.4 percent drop in July. The result corresponds to the forecast of economists.

On a monthly basis , total production increased by 0.9 percent compared with a forecast of 0.7 percent growth. Manufacturing output increased by 1.2 percent in September compared with the previous month , in line with economists' forecasts .

It should be noted that the support of the pound has also had a report from the National Institute of Economic and Social Research (NIESR), which showed that economic growth in the UK for three months , including October , is 0.7 %, mainly due to service companies of the private sector . It is slightly smaller than the GDP growth of 0.8 % in the three months through September , and significantly less than the growth of 1.3% , which was mentioned in the latest study by PMI .

NIESR expects GDP growth rate in 2013 at 1.4 % , and 2.0 % in 2014 , slightly below average expectations of economists.

Add that little pressure on the currency have expectations of tomorrow's Bank of England decision . Note that the Bank of England is likely to leave monetary policy unchanged, despite signs of strengthening the economy , as fulfills the promise to keep the level of the key rate , while unemployment exceeds the benchmark .

06.11.2013 18:20

European stock close

Market Focus

  • The Bank of Japan decided by a 7-2 majority vote to hold the interest rate at -0.10%
  • Earnings Season in U.S.: Major Reports of the Week
  • U.S. commercial crude oil inventories decreased by 4.7 million barrels from the previous week
  • Australian unemployment rate stable at 5.6% in June
July 2017
  • 2017
  • 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

  • © 2011-2017 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.

Connect with Us
Share on
social networks
Request a callback
Top Page