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23.04.2014 17:48

Foreign exchange market. American session: the better-than-expected flash manufacturing PMI in the Eurozone boosted the euro

The U.S. dollar recovered a part of its morning losses. A seasonally adjusted annual rate of new home sales plunged 14.5% to 384,000 units in March. February's figure was revised up to a 449,000 units from the previously reported 440,000 units. The projected value was 450,000 units.

The U.S. flash manufacturing PMI declined to 55.4 in April from 55.5 in March. The projected figure was 56.2.

The euro benefited from the better-than-expected flash manufacturing PMI in the Eurozone. Another reason for the increase of the euro was the successful bond auction of Portugal on financial markets. Portugal sold 10-year bonds for 750 million euros ($1.04 billion) at an average yield of 3.58%. In a few weeks, Portugal wants to leave the bailout program.

The Canadian dollar declined against the U.S. dollar. Retail sales dropped in comparison to the previous month. Retail sales rose 0.5% in February (January figure: +0.9%). Retail sales without automobile sales increased 0.6% (January figure: +1.0%)

The Australian dollar declined after the inflation data publication. The increase of the consumer price index was lower than expected in the first quarter. The annual consumer price index increased 2.9% (forecast: 3.2%). The monthly consumer price index rose 0.6% (forecast: 0.6%). The likelihood of interest hike by the Reserve Bank of Australia is near to zero in the next months. The Australian dollar was also affected by the worse-than-expected Chinese HSBC Manufacturing PMI (Preliminary). HSBC Manufacturing PMI was up to 48.3 in April from 48.0 in March. But the figure in April did not exceed the forecast of 48.4.

The British pound declined after the publication of the minutes of the Bank of England's (BoE) April meeting. MPC members were uncertain over economic slack and also held differing views on the outlook for inflation over the medium term. The minutes also showed that MPC members voted to keep interest rates at a record low 0.5%.

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