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13.12.2013 19:21

American focus : the euro fell

The euro exchange rate fell sharply earlier against the dollar, which was associated with the release of the employment report in the eurozone. In statistical agency Eurostat reported that employment in the euro area remained unchanged during the third quarter . Add that employment has not changed for the second consecutive quarter . As it became known , the seasonally adjusted number of persons employed in the euro area remained unchanged at the end of the third quarter. Meanwhile, we note that the annualized employment decreased by 0.8 percent in the three months to September , which followed after falling 1.1 percent in the previous quarter .

In the European Union (EU ), employment has remained unchanged in the third quarter as it was in the second quarter . In annual terms, employment in the EU fell by 0.3 percent last quarter, compared with a fall of 0.6 percent in the second quarter .

Statistical agencies reported that among the Member States , Portugal, Ireland and Luxembourg recorded the highest rate of employment growth ( qoq ) . At the same time , Estonia, Lithuania , Cyprus , Finland, Greece registered the largest decrease in the number of employees.

Recall that the unemployment rate in the 17 countries of the eurozone in October fell to 12.1 % from 12.2 % in September , while the experts did not predict change indicator. Within two months ( August and September) keeps unemployment at a record level of 12.2 % , and the decline is a sign the labor market recovery after the release of the most prolonged recession in the history of the eurozone.

Yen falls seventh week against the U.S. dollar on the eve of the U.S. central bank meetings and Japan, which will be held next week. Expectations as to what the Federal Reserve may soon curtail the program to stimulate the economy continued to dominate the financial markets , pushing the Japanese yen to reach a new five-year low against the U.S. dollar . In today's trading in the Asian session , the dollar / yen hit Y103.93, its highest level since September 2008 .

The focus of investors still remained the upcoming Fed meeting , which is scheduled for December 17-18 . Many expect that the central bank will decide on its program minimized by buying bonds in the amount of 85 billion dollars a month. This contributed to the strengthening of the dollar against the yen. Published on Thursday strong retail sales data also pushed the U.S. currency to further growth .

Although the Fed sketched an exit plan from the current policy of "cheap money " , investors also expect further easing of monetary policy the central bank of Japan , putting more pressure on the yen .

Cpred yield between U.S. bonds and Japanese government bonds widened to a maximum since April 2011 . Yen reached a five-year low against the euro and is on track for the fifth consecutive week of decline.

During the U.S. session data released on producer prices in the U.S., which weakened the dollar . They showed that U.S. producer prices fell again last month, while fixing the third monthly decline in a row, which is the latest sign of easing inflation.

According to the report , the producer price index fell last month by 0.1 %, reflecting the continuing decline in energy prices. Basic prices , which exclude volatile components such as food and energy , rose 0.1%.

Many experts predicted that overall prices will remain unchanged after declining by 0.2 % in the previous month , and the basic prices will increase by 0.1 % , after rising 0.1 % in October.

In addition, data showed that the annual rate of producer price inflation rose moderately - by 0.7 %, compared with an increase of 0.3 % in October , but still remained historically weak. Add that economists were expecting a little more growth , namely at the level of 0.8%.

Today's report underscores the weak demand in the U.S. and abroad constrains core inflation. Producer prices may give a sense of where the inflation at the consumer level , as firms can charge higher prices for goods and services to offset their own cost increases.

Reducing inflation is putting pressure on the Fed , namely their decision to reduce the amount of its bond-buying program , which is designed to reduce long-term interest rates and stimulate investment . Officials have discussed a few months , when it is necessary to reduce the data buying amid fears about the risks and signs that the economy is gaining momentum.

13.12.2013 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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