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10.01.2014 13:15

European session: the pound fell sharply against the U.S. dollar

Data

00:00 Australia New Home Sales m / m -3.8 % +7.5 November %

00:01 UK Retail Sales y / y in December +0.6% +0.4%

03:00 China Trade Balance , December 33.8 billion 32.6 25.6

05:00 Japan index of leading indicators in November 109.8 110.9 110.8

05:00 Japan Coincident Index 110.4 110.6 110.5 November

06:45 Switzerland 's unemployment rate in December 3.2 % 3.2 % 3.2 %

07:45 France Industrial Production m / m in November -0.5% Revised to -0.3% +0.6% +1.3%

07:45 France Industrial Production y / y in November 0.0% 1.5%

08:00 China The volume of loans billion yuanev December 625589

08:15 Switzerland Consumer Price Index m / m in December 0.0% -0.1 % -0.2 %

08:15 Switzerland Consumer Price Index y / y in December +0.1% +0.2% +0.1%

09:30 UK Industrial Production m / m in November +0.3% Revised to +0.4% +0.4 % 0.0%

09:30 UK Industrial Production y / y in November +3.2 % +2.8% +2.5 %

09:30 UK Manufacturing output , m / m in November +0.2% Revised to +0.4% +0.4 % 0.0%

09:30 UK Manufacturing output , y / y +2.6 % Revised November from +2.7 % +3.2 % +2.8%

10:00 Eurozone GDP q / q ( final data ) III m +0.1% +0.1% +0.1%

10:00 Eurozone GDP y / y (final ) III m -0.4 % -0.4 % -0.4 %


Euro fell against the dollar, after it became known that eurozone GDP in the 3rd quarter in line with expectations of analysts. According to final data from the EU statistical office Eurostat, GDP in the treatment zone of the single European currency in the III quarter of 2013. increased by 0.1 % compared with the previous quarter . The results coincided with the preliminary data published in mid-November. On an annual basis Eurozone GDP in July-September 2013. decreased by 0.4 % ( expected to decrease also be 0.4 %).

In 28 countries - members of European Union GDP in III quarter 2013. increased by 0.2 % qoq and 0.1% yoy .

The slowdown in the growth of European economies in parallel with decreasing inflation and falling unemployment - even in the "problem" countries, such as Spain and Greece. Collectively, these data allowed the ECB in early November 2013. lower the interest rate to a record low of 0.25%.

In addition, the dynamics of trade affect expectations official data on employment in the U.S. in December . According to the median forecast of economists , the number of jobs in the U.S. economy grew in December at 197 thousand and the unemployment rate will remain at 7% , minimum five years . Given these data, the overall increase in the number of jobs in 2013 will reach 2.27 million , the highest since 2005. Recall that yesterday, State Department of Labor said the number of applications for unemployment benefits fell by 15,000 to 330,000 in the week ended January 4.

Pound fell substantially against the U.S. dollar , which was associated with the release of data for Britain. The Office for National Statistics reported that the volume of production in the UK manufacturing sector and industrial production as a whole has not changed in November, and construction output fell sharply , reducing hopes that the economic recovery was extensive .

According to the report , the total production showed zero growth in November, and the figure for the previous month was revised downwards - to 0.3 % from 0.4 %. We add that the growth of production in the manufacturing sector in October was revised to 0.2 % from 0.4 %. Economists were expecting an increase of 0.4 percent for industrial production and for production in the manufacturing sector .

In addition, data showed that industrial production in the three months to November increased by 0.6 percent , and increased by 2.8 percent on an annualized basis in October ( the strongest growth since May 2011 ) . Meanwhile, it is worth noting that the UK production remains at 8.5 percent lower than during its peak in 2008 before the financial crisis .

Separate data showed that the output of the construction sector in the UK fell by 4.0 percent in November from October - the sharpest drop since June 2012 .

In annual terms, construction output rose 2.2 percent after increasing 5.1 percent in October.

The Swiss franc fell slightly against the U.S. dollar , amid a report showed that consumer prices rose in Switzerland last month , registering with the second monthly increase in a row. According to the report , on an annual basis , consumer prices rose in December by 0.1 percent , while showing the same pace as in the previous month. We add that the consumer price index showed a positive change in November for the first time in more than two years. In annual terms, the average inflation rate in 2013 was negative - at 0.2 per cent, compared with 0.7 per cent up to 2012 .

On a monthly basis , consumer prices fell 0.2 percent in December , after they remained unchanged in November.

Meanwhile, another report from the State Secretariat for Economic Affairs (SECO) showed that the seasonally adjusted unemployment rate was 3.2 percent in December , unchanged compared with November. We add that the latter figure confirmed the experts' predictions . Meanwhile, the unemployment rate on an unadjusted basis rose to 3.5 percent in December from 3.2 percent a month earlier.


EUR / USD: during the European session, the pair fell to $ 1.3583

GBP / USD: during the European session, the pair fell to $ 1.6400

USD / JPY: during the European session, the pair rose to Y105.05


At 13:30 GMT , Canada will release a report on the unemployment rate and the change in the number of employees in December. Also this time, as the U.S. will report on the unemployment rate , changes in the number of people employed in non-agricultural sector , the average change in hourly wages and the share of economically active population in December. At 15:00 GMT Britain to publish data on the change of the NIESR GDP in December.

10.01.2014 11:45

European stock rose

Market Focus

  • Donald J. Trump was inaugurated as the 45th president of the United States
  • Canada: Retail Sales, m/m, November 0.2% (forecast 0.5%)
  • U.S.: Nonfarm Payrolls, January 227 (forecast 175)
  • Eurozone: Consumer Confidence, January -4.9
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