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15.01.2014 18:58

American focus : the pound has fallen markedly against the U.S. dollar

Euro fell against the dollar, which was associated with the release of data for Germany and the revision of global growth forecasts by the World Bank . Report on Germany showed that GDP growth slowed in 2013 due to uncertainty stemming from the eurozone crisis . Germany 's gross domestic product adjusted for inflation increased by 0.4 % in 2013 after rising 0.7 % the previous year . Household consumption in the euro zone 's largest economy in 2013 increased by 0.9 % , while government consumption rose by 1.1%. Export growth was 0.6 % in 2013 , compared with 3.2 % in the previous year .

Meanwhile, adding that the World Bank raised its forecast for global economic growth in 2014-2015 . According to forecasts , this year, the world economy will grow by 3.2% compared to the June forecast growth of 3%. The Bank expects that in 2015 global growth to reach 3.4 % compared with 3.3% projected in June. Prediction for the richest countries was revised to 2.2% from 2% . In the U.S., growth will accelerate to 2.8 % this year , while Japan's GDP will be 1.4 %. This year, the eurozone economy is expected to increase to 1.1% compared with 0.9 % reported by the World Bank in June.

Moreover, we note that a small influence on the bidding had U.S. data , which showed that the producer price index rose a seasonally adjusted 0.4% in November , led by a jump in energy prices. This happened after declining for two consecutive months , and marked the biggest increase since June. However , producer prices for the entire 2013 rose by only 1.2% , it is the smallest annual growth rate since calendar 2008. Main producer prices , which exclude volatile prices for food and energy , increased by 0.3% from November and 1.4 % for the whole 2013 .

Growth last month was lower than the forecast of economists expect an increase in overall prices by 0.5% , while the growth of the base prices was above forecasts of 0.1 %.

Dollar growth expectations also help review publication of the U.S. economy from the Federal Reserve . Today American Central Bank will publish the traditional macroeconomic overview , which is called Beige Book (" Beige Book " ) .

Pound declined significantly against the dollar, which was associated with the release of positive U.S. data . As we learned from the industry survey from the Federal Reserve Bank of New York, business activity in New York rose much more sharply than in recent months. The overall index of business conditions in January rose 10 points to 12.5 , its highest level in more than a year (since May 2012 ) . This month, 35% of respondents reported that conditions have improved over the last month , and 22% - that have deteriorated .

The new orders index rose 13 points to 11.0 - a two-year maximum. Delivery index rose 11 points to 15.5 . Index of orders remained in negative territory, -8.5 . Delivery time index changed little , remaining at -8.5 . Index of stocks rose by 2.4 points to 24 - more than offsetting the sharp decline in the last month . Indices of purchase prices and sales prices have risen significantly , which shows an increase of price pressure . Paid index rose 21 points to 36.6 - the highest value in more than a year, which shows a steady increase in purchase prices . Price Index rose 10 points to 13.4 , indicating that selling prices are also rising . Employment indices indicate an improvement in labor market conditions . Index number of employees rose by 12 points to 12.2 , the index of the average workweek rose to 1.2 .

The course of trading statements also influenced the Bank of England Governor Mark Carney before the Special Committee of the Treasury. Carney and other members of the Committee on Financial Policy to answer questions relating to a recent report on financial stability . In his reply to a question about the problem of bank restructuring Carney stressed the importance of using sheathe economic business model for financial institutions. "Simple disbanding Institute does not guarantee a viable or more competitive structure ", - he said. CB Head also assured that the expiry funding bank lending (FLS), aimed at encouraging lending to households by banks , will not be a problem , and , according to research , " financing conditions for commercial lenders look very favorably ." On the question of the likelihood of a rate hike Central Bank chief said that the sharp increase in the cost of credit should not be expected .

15.01.2014 18:22

European stock close

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