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26.11.2013 19:20

American focus : the euro rose

The euro rose against the U.S. dollar , offsetting losses incurred earlier . Pressure on the dollar was potrebdoveriyu data in the United States . Recent data from the Conference Board showed that consumer confidence index , which fell sharply in October , continued its deterioration and in November. Index currently is 70.4 points ( 1985 = 100 ) as compared with 72.4 point in October. Note that the current situation index fell to 72.0 from 72.6 , while the expectations index fell to 69.3 from 72.2 .

Earlier, the U.S. dollar was supported by data on the U.S. housing market . Housing prices in 20 metropolitan areas in the U.S. for the 12 months ending in September increased the most since February 2006 , signaling the improvement in the glimpses of the housing market , the number of building permits in October rose more than expected - at 6, 2%. It should be noted that the output data began construction was postponed to December 18 due to the fact that the 16-day simple government agencies prevented timely collect statistics .

Note that in the course of trade also affected by the representative of the ECB Benoit Kere , who noted that the Governing Council discussed the likelihood of negative interest rates on deposits , so this option is not excluded. " We have made clear that this option was discussed , so that the ECB is ready to do it ," said Ker , adding that this is just another one of the tools of the Central Bank . ECB assured that he is not afraid of deflation in the euro area since the restoration of growth and expects a gradual increase in inflation to the target level of 2%.

Previously pound weakened against the dollar after the statements of representatives of the Bank of England . Bank of England Carney , who spoke today at the Ministry of Finance , reiterated that the decline rates b / d to 7% will not trigger an automatic increase rate securities .

He noted that "the policy prozrachnoti " this is just politics clarify the conditions under which markets the Bank of England will begin to consider the option of raising rates , which gives the players , companies and households more certainty .

" We are not going to undermine the economic recovery , tightening ahead of time ," adding that it is very difficult to predict how the situation will develop with unemployment.

Nevertheless , the head of the Central Bank welcomed the recent recovery in the labor market in Britain, which , in his opinion , is a sign that the economy is gaining momentum. However, he stressed that the drawdown of the British economy should not be underestimated , as well as downside risks to the outlook for the eurozone economy , which could damage Britain.

Another topic that was discussed at the hearing , it is a request of the Ministry of Finance to the Bank of England to rethink leverage ratio for British banks. Carney found it necessary to maintain the financial sector in Britain and said that the new rules should be introduced for 9 months.

26.11.2013 18:25

European stocks close

Market Focus

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  • Canada’s merchandise trade deficit widens in June
  • Canada unemployment rate falls to lowest level since October 2008
  • Canada Ivey PMI falls less than expected in July
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