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17.03.2014 18:20

American focus : the euro rose

The euro edged higher against the U.S. dollar on a background of mixed American makrostatistiki . The survey revealed that the Fed - New York manufacturing index in the region rose slightly in March compared to the previous month . According to the data , the production index in March rose to 5.6 against 4.48 in February. Note that January's value has not been revised . Economists expected the index to rise to the level of 6.6 points.

U.S. industrial production volume increased markedly in February , exceeding forecasts with experts and fully compensate for the decline recorded in the previous month . This was reported by the Federal Reserve in its latest report . According to the data , seasonally adjusted industrial production increased by 0.6 % in February compared with the decline of 0.2% in the previous month ( revised from -0.3 %). Capacity utilization rate , meanwhile, rose by 0.3 percentage points - to 78.8% . Economists forecast that industrial production increased by 0.2%, while capacity utilization was 78.7 %.

The data , which were presented by the National Association of Home Builders showed that in the current month, U.S. builders continued to exercise caution in relation to the housing market , suggesting that problems with the restoration were associated not only with severe weather conditions . According to the report , the seasonally adjusted March housing market index rose by only 1 point , reaching 47 points . Values ​​below 50 indicates that more builders assessed conditions as poor than good . Slight increase occurred after the fall of 10 points in February - the largest monthly decline in the history of this research . Many economists predicted that in March the index to rise to 50 points. Builders reported that the complexity of the work have been associated not only with the bad weather and problems and to give labor and land .

Earlier pressure on the euro had data that showed that inflation slowed in February to 0.7 % per annum after an increase of 0.8 % in January. This was stated in the final data of the Statistical Office . Analysts do not expect the revision of growth from previously reported 0.8%. Prices excluding the cost of fuel and food in the euro zone rose in February compared to February 2013 to 1 %, as predicted by experts . We also add that on a monthly basis , consumer prices in February rose 0.3 %, compared with a decline of 1.1% a month earlier. Inflation in the 28 countries of the EU in annual terms slowed to 0.8% after 0.9 % in January.

The yen has fallen markedly against the U.S. dollar , which was associated with Kuroda statement on the possible extension of the leniency program . According to him, the Bank of Japan should be prepared to apply the barter easing monetary policy in case of any hint of problems in achieving the inflation target due to the economic downturn. He also noted that consideration of further measures will be made at an early stage - depending on how the economy will react by increasing the tax rate on consumption.

CB Head Kuroda said with confidence : increased sales tax in April will not have a significant negative impact on the economy. He explained : record level measures easing monetary policy , begun in April 2013 , has been applied with the assumption that the consumption tax rate should eventually reach 10% . Kuroda said hardly consumption will be significantly reduced .

17.03.2014 18:00

European stocks close

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