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05.05.2015 18:20

American focus: JPY increased significantly against the US dollar

The yen has risen significantly against the US dollar, entrenched below Y120. Experts note that the dollar came under pressure after a disappointing report on the March trade balance. As previously reported, the trade deficit grew by 43.1% to a seasonally adjusted amounted to $ 51.37 billion. In March. It was the largest monthly expansion of the trade deficit in December 1996 and the strongest largest deficit value since October 2008. Economists had forecast that the trade deficit will reach 40.3 billion. Dollars in March. The expansion of the trade deficit was caused by the largest increase in imports in the data series. This means that foreign goods are constantly coming into the United States in March after months of deceleration due to the labor dispute in the ports of the West Coast. Imports rose 7.7% to $ 239.21 billion. In March. Meanwhile, overseas demand for US goods and services remained modest. Exports increased by 0.9% from February to $ 187.84 billion. The trade deficit in February was revised to $ 35.89 billion. From originally reported $ 35.44 billion. The result of this month was the lowest since October 2009. The three-month moving average deficit of $ 43.31 billion. In March, a little wider than the $ 41.17 billion. Average deficit a year earlier. The trade deficit of petroleum products fell to $ 7.67 billion in March, the lowest level since June 2002. The average price of a barrel of crude oil imported in the United States was $ 46.47, compared with $ 93.91 a year earlier.

The euro strengthened against the US currency, thus offsetting yesterday's fall. Support currency had economic forecasts of the European Commission. Economists EU said that cheaper oil prices and measures to stimulate the CBA should help accelerate the economic growth of the eurozone in 2015. However, they doubt that the strong growth will continue in the long term. The European Commission expects the euro zone's GDP in 2015 will grow by 1.5%, not 1.3% as predicted in February. Of EU GDP, which consists of 28 countries in 2015 is likely to increase by 1.8%, not 1.7% as expected in February. The forecast of GDP growth in Germany in 2015 has been raised to 1.9% from 1.5%. The main engine of economic growth in Germany will be domestic demand, which will be supported by a strong labor market, immigration and low interest rates. Ireland's GDP in 2015 is expected to grow by 3.6%, which would be the highest in the eurozone. Spain's GDP will increase by 2.8%. At the same time, the European Commission lowered its forecast for GDP growth in Greece to 0.5% from 2.5%.

Further growth in the euro constrain US data from the Institute for Supply Management (ISM). According to the report, in April, the index of business activity in the US service sector improved, reaching 57.8 at the same level compared to the March reading at the level of 56.5. According to experts, the value of this indicator was to remain at the level of 56.5. In general, the sub-indices have proved as follows: the index of new orders in the non-manufacturing sector in April rose to 59.2 against 57.8 in March, the index of employment in the non-manufacturing sector rose to 56.7 from 56.6, the index of prices in the non-manufacturing sector It fell to 50.1 against 52.4 in March, while the index of business activity in the non-manufacturing sector improved to 61.6 vs. 57.5 in March.

The British pound rose moderately against the dollar, approaching to the level of $ 1.5200 after the release of mixed US data. Recall, the US trade deficit widened to a maximum of 1996 in March, and the ISM service sector rose to 57.8 in April from 56.5 in March. However, the pair held in a range as traders were silenced in the run-up to elections in Britain. Recall elections will be held on May 7, and as shown by the latest social polls, the election race has become one of the most severe since the 1970's. According to the latest opinion polls, neither the Conservatives, led by Prime Minister David Cameron nor the opposition Labour Party failed to take a leading position. Therefore, the "small" parties can become key players vote, in which the British will choose the members of its parliament for the next five years. As expected, the Scottish nationalists take a good position in this election, so the vote can not only determine the future of Scotland, but the future of Great Britain in the European Union. Cameron has promised to hold a referendum on membership in the alliance.

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