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31.01.2014 19:21

American focus : the euro fell sharply against the U.S. dollar

The dollar against the euro has grown significantly on the news about the intention of the Bundesbank complete sterilization of bond purchases the ECB to cash injections into the economy , similar to the Fed and QE. Besides support for the U.S. currency had submitted reports .

Ministry of Commerce said that personal spending in December rose to a seasonally adjusted 0.4 % compared with the previous month. Economists had forecast an increase of 0.2%. Spending growth in November was revised up to 0.6%. These gains were the strongest consecutive monthly increase since 2012 . Personal income remained virtually unchanged in December, weaker than the 0.2% growth that economists expected. When accounting for taxes and inflation annual growth was only 0.7 %.

Meanwhile , another report showed that PMI Managers Association in Chicago with correction for January rose to 59.6 from 59.1 in December. It is worth noting that, according to the average forecast of experts for this indicator was down to the level of 59.0 . Recall that the value above 50 is an indicator of accelerated growth in the economy. All components in January remained on the territory of expansion , except the Employment Cost Index . The growth compared with the previous month showed the index of purchase prices and new orders . Declines were observed in the indices of employment and deliveries.

Surprised with the final results of studies that were presented to Thomson-Reuters and the Michigan Institute . They showed that in January, American consumers feel less optimistic about the economy than was recorded in the last month. According to reports, in January the final index of consumer sentiment fell to 81.2 compared with the final reading for December at 82.5 , and the initial estimate for January at around 80.4 . It is worth noting that according to the average estimates of experts , the index was down compared with the December value to the level of 81.0 .

The British pound fell against the U.S. dollar amid risk aversion and the end of the month . In anticipation of the Bank of England next week, experts note that MPC, most likely will not approve further appreciation of the currency. It is also expected that the Bank of England will repeat his dovish tone by changing the statement of intent , as well as hints on future challenges that the economy still faced in the process of recovery.

Pressure on the pound also provided data for the U.S. , which showed that personal spending rose by 0.4 % vs. 0.2 %. Chicago PMI was 59.6 vs. 59.0 , and Michigan's consumer sentiment index was at the level of 81.2 against expectations of 81.0 .

The Canadian dollar rose sharply against the U.S. dollar , thus offsetting any previously lost ground. Improved sentiment against the U.S. dollar on the economic outlook , together with pigeon rhetoric Bank of Canada led the rally. The dynamics also influenced Canadian GDP data , which showed that the economy grew by a fifth consecutive month in November, against the backdrop of growth in the energy and mining, while the demands on electricity and natural gas caused the greatest increase in production in the communal areas since February 2007. Retail trade has also grown . But overall growth was restrained production, which declined for the first time in three months , as well as construction and wholesale trade. Gross domestic product , the total amount of goods and services produced in the country increased by 0.2 %, slightly slower than the 0.3% growth in each of the previous two months , Statistics Canada reported . In annualized growth slowed to 2.6% from 2.7%. The figures coincided with the consensus forecast of economists and Royal Bank of Canada . The pace of expansion put the economy on a path to an annual growth rate of about 2.5% in the fourth quarter , which would be in accordance with the new forecasts from the Bank of Canada, which he presented in its quarterly report on monetary policy last week.

31.01.2014 18:21

European stock close

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