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12.03.2014 18:20

American focus : the euro rose substantially against the U.S. dollar

The euro exchange rate has appreciated strongly against the U.S. dollar , reaching maximum values ​​at the same time this month. Growth did not stop even weak data on industrial production in the euro area . As it became known , the volume of industrial production fell 0.2 percent on a monthly basis in January , showing the second consecutive fall. Economists had expected production to grow by 0.6 percent after falling by a revised 0.4 percent in December . Production of energy decreased by 2.5 percent, and the production of durable consumer goods fell by 0.6 percent . Intermediate goods decreased by 0.1 percent. Partially offset this decline is that the release of capital goods rose by 0.9 percent, while production of consumer non-durable goods increased by 0.4 percent. On an annual basis, industrial production growth accelerated to 2.1 percent from 1.2 percent in December. Predicted that the issue will grow by 1.9 per cent .

Experts point out that despite the continuing problems with economic growth in the eurozone, the European single currency showed steady growth, mainly receiving support from the European Central Bank's decision to leave policy unchanged , continuing softening . The ECB has signaled that inflation is not low enough , and the economy is weak enough to take action. Investors gradually resigned to the fact that further action the ECB will probably need to yield more negative economic news.

The yen rose moderately against the dollar as signs of slowing economic boosted demand for safe-haven assets . Recall that submitted this month , data showed that in February, China's exports fell by the largest value since the beginning of the financial crisis . Index decreased yoy by 18.1 % , while the experts had expected growth of 7.5%. However, the real picture is quite difficult to evaluate because of the rather long New Year celebrations on the lunar calendar . Holidays in China traditionally distort statistics . Meanwhile, imports grew by 10.1% , resulting in a trade deficit peaked at 2 years.

Frank continued to strengthen against the dollar , breaking with a two-day consolidation, and peaking in the last 28 months. Franc firmed the increased risk aversion amid worries about China and the situation between Russia and Ukraine.

Market participants are waiting for tomorrow's data for China . Economists predict that the Chinese industrial production has increased markedly during the first two months of this year , but the rate of this increase will be less than was recorded in December. It is estimated that industrial production increased by 9.5 percent ( yoy ) in January and February, compared with a gain of 9.7 percent in December. Experts also expect that retail sales rose by 13.5 percent per annum for the first two months of this year , slightly less than 13.6 per cent growth in December. Growth of investment in fixed assets, probably slowed to 19.5 per cent per annum, compared with an increase of 19.6 percent in January .

12.03.2014 17:40

European stock close

Market Focus

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  • Australian unemployment rate stable at 5.6% in June
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