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19.03.2014 17:21

American focus : the euro fell

The euro fell against the dollar today on the eve of publication of the two-day meeting of the Federal Open Market Committee, the Fed , followed by the first press conference Janet Yellen . It is expected that the Central Bank will continue to reduce the quantitative easing program . It is worth noting that in the last month , Fed Chairman Yellen has promised to continue to move in the direction of reduction of monetary stimulus . Positive economic statistics confirm this prediction . In addition , analysts expect the Fed to abandon the target level of unemployment, which tied terms of higher interest rates . Most experts expect that the Central Bank may move to a new practice notice of plans to raise the base interest rate and determine further action by a number of macroeconomic indicators .

Little influenced by the data for the euro area , which showed that the seasonally adjusted construction output rose in January by 1.5 per cent ( on a monthly basis ), which is followed by growth of 1.3 percent in December and fall by 0.1 percent in November . Experts predicted an increase of 1.8 percent. In annual terms, construction output rose by 8.8 percent in the beginning of the year , changing the downward trend , which was observed in recent months.

The dollar had evidence that the current account deficit the U.S. fell to a 14- year low in the fourth quarter , as the volume of exports reached record levels. This was stated in the report, which was submitted to the Ministry of Commerce . According to the negative balance of payments declined in the last quarter of 2013 to $ 81.12 billion , compared with a revised upward figure for the third quarter at $ 93.37 billion

The latter value was the lowest since the third quarter of 1999 , and represented 1.9 percent of gross domestic product ( the lowest proportion since the third quarter of 1997 ) , compared with 2.3 percent in the period from July to September. Economists forecast that the current account deficit will fall to $ 88 billion from $ 94.84 billion, which was originally reported.

For the full 2013 current account deficit was on average at 2.3 per cent of GDP , which is the lowest value since 1997.

Pound was up against the U.S. dollar , which was associated with the publication of minutes of meetings of the Bank of England and labor market data . Note that the minutes of the last meeting of the Bank of England from March 5-6, showed that members of the Central Bank were unanimous in their decision to maintain the status quo , leaving the rate at around 0.5% , and the size of its asset purchase program - at £ 375 billion MPC members noted that in the three months to December , employment growth slowed slightly in the UK , and the unemployment rate remained above the 7% mark target designated by the Bank in the past year . MPC members stressed that the recent appreciation of sterling puts downward pressure on inflation .

Meanwhile, data showed that the unemployment rate for three months ( December) compared with the previous three-month period remained unchanged - at 7.2 % , confirming the predictions of many experts. The number of applications for unemployment benefits fell by 34.6 million in February , after falling 33.9 thousand the previous month ( revised from -27.6 million). Economists were expecting a decrease only 23.3 thousand Moreover , it became known that the level of unemployment claims for employment fell in February to reach 3.5% from 3.6 % in January , showing the 16th consecutive monthly decline . The number of people in employment has reached a new record high - a little less than 30.2 million , driven by growth in self-employment.

The yen fell against the U.S. dollar . Impact on the dynamics of the data provided by Japan, as well as words BOJ board member Takahide Kiut . Report submitted to the Ministry of Finance of Japan, showed that the trade deficit declined in February to a level of 800.3 billion yen , compared with 2.8 trillion . yen in January. Deficit reduction occurred on the background of accelerating export growth and weakening imports. However, experts expect further reduction - up to 600 billion yen. Add that captures Japan 's trade deficit for 20 consecutive months ( the longest period since 1979 ) . Meanwhile, it became known that the growth rate of imports in the country in February slowed to 9% from 25.1 % in January , as export growth accelerated to 9.8% from 9.5% .

With regard to the Kiut , he warned that if the Central Bank will forever campaign to mitigate the monetary policy or to undertake additional mitigation measures , it can give rise to adverse effects on the markets .

19.03.2014 17:40

European stocks close

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