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The euro exchange rate is trading in a narrow range against the U.S. dollar in the absence of meaningful statistics . Slight pressure on the euro was data from France , which showed that industrial production in France fell in January, contrary to the forecast of economists expect a noticeable increase . Industrial production fell by 0.1 percent year on year in January , succeeding increase by 0.3 per cent and 1.5 per cent in December and November respectively. Economists had expected a 1.3 percent expansion in January . On a monthly measurement of industrial production fell by 0.2 percent in the beginning of the year , after falling 0.6 percent in December . Expectations were at a gain of 0.6 percent. Insee also noted that in January, production in the manufacturing sector grew at a faster annual rate of 1.4 percent than the 0.5 percent in December.
Little influenced by data from Sentix, which showed that investor confidence in the eurozone reached its highest level since April 2011 , supported by notable progress in the assessment of the current situation. The composite index of confidence rose to 13.9 in March from 13.3 in February , while , according to forecasts , the index had to grow to 14.3 . Nevertheless , it was the highest since April 2011 . Assessment of the current situation rose to 4.8 , the highest level since July 2011 , from 1.8 in February. Nevertheless , expectations fell to 23.5 in March from 25.5 in February.
Pound declined significantly against the dollar , reaching lows on February 27. Couple in Europe was under intense pressure and broke above $ 1.6700 , absorbing foot and accelerating the pace of decline . The decrease was due to technical factors ( correction after Friday's growth ) , as well as statements of the representative of the Bank of England Bean . Note that the deputy. the Bank of England , Charlie Bean said today that interest rates will remain at the same levels for a longer time if the pound continues to grow .
"If sterling stronger, it is potentially weaken inflation as a negative impact on import prices , so achieving the target level of inflation will be rather medium term, which in turn means that monetary policy will remain accommodative for a longer period of time than expected, " - says Bean .
CB representative added that the recovery of the British economy may face obstacles in the face of the eurozone's problems or stress in the emerging markets , as well as in the face of bubbles forming in the domestic housing market.
The Canadian dollar was trading lower against the U.S. dollar , but was able to recover most of the previously lost positions . Growth helped Canadian data , which showed that the number of new housing increased tabs on a monthly basis by an average of 192,094 units in February. This was stated by the Canadian Mortgage and Housing Corporation (CMHC). The results, which followed three months of decline, were slightly higher than analysts had expected 190,000 new bookmarks . In a research note expert CIBC World Markets said the results were in February according to the range , which saw last summer and early fall , but less than the rate of more than 220,000 units, which are seen in mid-2012. CMHC reported that the number of new housing urban bookmarks increased to 175,584 units. Bookmark urban apartment jumped 13.3% to 116,458 units, while single-family detached urban Bookmarks fell 2.4 % to 59,126 units.
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