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29.11.2013 19:21

American focus : euro stabilized

The euro fluctuates against the dollar , while demonstrating a slight decrease . Note that the pair continues to rise the third consecutive week , recovering from the levels reached after the rate cut by the ECB. Risk appetite and skepticism about " transparency policy " ECB support the single currency. At the same time , today's favorable reports on inflation and unemployment had no noticeable effect on the dynamics of the euro .

In the statistical agency of the European Union reported that the number of people out of work in 17 countries in the euro zone declined unexpectedly in October , departing from its highest level since April 2011 . According to the report , the unemployment rate in the euro area fell last month to 12.1 %, compared with 12.2% in September, which was a record .

Furthermore, the data showed that the number of people without jobs fell by 61,000 in October, largely was due to a decrease on 41 000 in France - the second largest economy in the monetary area . Nevertheless , without a job are still 19,298 million, 615 thousand more than in the same month last year. We also recall that the last time the unemployment rate fell in 2011 . Decline in unemployment was a surprise to many economists , as they expected that this figure will remain unchanged. But , despite the recession , the unemployment rate remains very high by international standards.

Meanwhile , another report submitted showed that inflation in the eurozone rose to 0.9 percent in November . Note that these data are still preliminary revenge . Many experts expect that inflation will rise by 0.8 percent. Recall that in October of this indicator increased by 0.7 percent. However , despite this growth , inflation remains below the target level of the European Central Bank "below but close to 2 percent " for the tenth consecutive month. We also learned that , excluding the cost of energy , food , alcohol and tobacco , core inflation increased to 1 percent from 0.8 percent.

Pound fell against the dollar earlier , which was associated with the release of a weak report on consumer confidence in Britain. Results of recent studies that have been presented by GfK NOP, showed that confidence among British consumers fell in November , registering with the second monthly deterioration , as they were more concerned about the state of their finances . These results add early signs that the recovery of the UK economy , built largely on consumer spending , could lose momentum in the fourth quarter of this year , as households begin to reduce their costs. Bank of England officials warn that prolonged pressure on workers' incomes due to rising wages lag behind inflation , could undermine the recovery , if the company also will increase their spending in the near future .

Today's data showed that the index of sentiment among households fell unexpectedly in November - to the level of -12 points , compared with -11 points in October . Many economists expect that the value of this indicator will be slightly improved , and reaching -8 points .

Nevertheless , in the GfK NOP reported that the loss of confidence in November was small. Sentiments among the population are much more optimistic than in the previous year was recorded . Note that the November decline was associated with deterioration of the two sub-indices - personal financial situation and willingness to make major purchases . But despite this , households have become a little more confident to look at the prospects for the economy in general .

29.11.2013 18:20

European stocks close

Market Focus

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  • 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
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