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20.04.2015 18:20

American focus: the dollar rose against the British pound

The pound fell against the US dollar, reaching $ 1.4900, which is associated with the anticipation of the publication of important statistics (Wednesday the Bank of England will release the minutes of the meeting, and on Thursday, there are data on retail sales). Meanwhile, experts note that the uncertainty associated with the upcoming elections in the country, will continue to put pressure on the pound in the coming weeks. Little impact on the pound also provided data on house prices in the UK. The average asking price for a house in the UK rose by 1.6 percent for the month in April, said Monday website tracking estate Rightmove. The price reached a record 286,133 pounds. This is followed by a 1.0 percent increase in March. In annual terms, house prices rose by 4.7 percent, noting slowing from 5.4 percent in the previous month. Site called shortage of new homes built as one of the main reasons for the spike in prices.

Euro played some ground against the dollar, but still continues to trade lower. Little influenced by data on producer prices in Germany showed that the producer price index in March rose slightly by 0.1% compared to February due to falling oil prices. Compared with the same period last year, producer prices fell 1.7% after falling 2.1% in February. In March, a major factor in producer prices were energy prices, which have remained unchanged compared to the previous month, but fell by 4.7% compared to the same period of the previous year. Basic PPI, which excludes volatile energy prices, rose by 0.1% compared to February and fell by 0.5% per annum.

The focus of investors is the situation with the Greek debt. Greece will probably not be able to at a meeting of eurozone finance ministers this week to conclude an agreement with creditors on a plan of economic reforms in the country, according to most experts. New date to be set as the deadline for reaching an agreement, it may be the day of the summit of the eurozone - May 11.

Slight pressure exerted statements ECB Governing Council member Vitor Constancio, who noted that the negative yield bonds eurozone countries is a side effect of the program QE, conducted by the ECB. He added that the program was not an issue to achieve negative returns, but now the Central Bank closely watching developments on this front.

The Australian dollar depreciated significantly against the US dollar, approaching the level AUD0.7700, which was related to statements Stevens. Managing RBA Stevens said that if necessary, the Central Bank may lower interest rates. Stevens also believes that the Australian dollar is likely to continue to fall over time. About low interest rates, he said that they help stimulate the housing and welfare of households. Committee approached the question of rate changes with great caution, added the head of the RBA. In addition, Stevens noted that the rise in house prices and high debt load should not determine the course of monetary policy, however, and completely ignore these aspects is impossible.

The Canadian dollar rose against the US dollar, thus returning to a session high against the background commentary runner and rising oil prices. The head of the Bank of Canada said he expects an economic recovery in the 2nd quarter of this year, and that the policies of the Central Bank will increasingly depend on macroeconomic indicators. He added that the country is ready to raise rates in the US and that this will be a positive factor for Canada, as will indicate the "recovery of the US economy."

Market Focus

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