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25.02.2014 19:20

American focus : the euro rebounded against the dollar

Euro regained most of the lost ground against the dollar, and is now trading on the rise. Previously declined against the dollar on risk aversion , which increased to U.S. data and the prevention of the formation of bubbles Tarullo . Report of the Federal Reserve Bank of Richmond showed that in February the production conditions in the region have deteriorated compared to the previous month . Corresponding index of manufacturing activity fell to 6 points in February compared to 12 in January. Economists had expected the index to rise to 13 points .

Meanwhile, a report from the Conference Board showed that the consumer sentiment index fell to 78.1 from 79.4 in January ( revised from 80.7 ) . Economists had expected a decline to 80.2 . Assess the current situation index rose from 77.3 to 81.7 . This component of the index rose to its highest in nearly six years level . The expectations index fell sharply - from 80.8 to 75.7 .

As for the performances of Daniel Tarullo ( Fed governor in charge of financial regulation ) , he said a small increase in risk in the credit markets , but this does not mean that in response to the central bank should raise interest rates . According Tarullo , the Fed should not exclude raising rates to combat potential "bubble " in asset markets , but it should first try to use and hone their regulatory tools to identify these threats to financial stability. Nevertheless , he added , raising interest rates in response to every little sign of the "bubble " will have significant negative consequences for the economy.

British pound shows growth against the dollar, despite a significant decline earlier. Influenced the course of trading data on the number of approved applications for mortgage loans and the index of retail sales , as well as the representative of the Bank of England comments McCafferty . McCafferty said in an interview with Reuters, that the term of the first rate hike Bank of England will strongly depend on the state of inflation. In the case of acceleration of growth previously possible increase. Yet he stressed that projections suggest the first increase in Q2 . 2015 , and it is quite reasonable. Moreover, McCafferty said: the current growth of the pound does not harm British exports, but if it continues , the Bank of England will be forced to react.

With regard to the published statistics, the number of mortgage approvals in the UK rose more than expected and reached its highest level since September 2007 , the report showed the British Bankers Association (BBA). Number of loans for house purchase rose to 49,972 in January. This is the highest since September 2007 , from 47,086 in December. The expected level was 47,150 .

Another report showed : UK retail sales rose at the fastest pace since June 2012 . These are data from a study of the Confederation of British Industry (CBI). About 45 percent of respondents reported that sales rose compared with the previous year , while 8 percent said they were down . This gave the balance 37 per cent. Retailers expect sales growth at a steady pace in the next month - 43 percent expect growth, 15 percent expect a recession. The balance was 28 percent. Investment intentions for the year ahead given the balance of 17 percent. This is the strongest level since November 2010.

25.02.2014 18:20

European stock close

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