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09.07.2015 18:20

American focus: the euro weakened

The euro fell sharply against the dollar, approaching yesterday's lows. Markets continue to monitor news from Greece. Today, Prime Minister Tsipras was to submit new proposals to be considered by the authorities of the EU, and then can be finally agreed at the EU summit on Sunday. A little influenced by data for Germany. Statupravleniya Destatis said that German exports unexpectedly rose in May, accelerating at the same rate of increase compared with the previous months. The report said that exports rose in May by 1.7 percent, despite the expectations of the experts on the 0.8 percent decline. Last growth rate was the highest since the beginning of the year. Recall, according to the results of April, exports increased by 1.6 percent. At the same time, imports jumped in May by 0.4 percent, compared with a fall of 0.8 percent in April. Economists had expected that imports will grow by only 0.1 percent. As a result, the trade surplus increased to a seasonally adjusted 22.8 billion. Euros from 21.5 billion. Euros in April. In annual terms, growth in exports slowed in May to 4.6 percent from 7.6 percent the previous month. Imports, meanwhile, grew by 3 percent compared to 3.3 percent in April. In unadjusted basis, the trade surplus amounted to 19.5 billion. Euros, which was more than in the same period last year (17.5 billion. Euros), but lower than the forecasts of experts at the level of 20.5 billion. Euro. We also learned that the current account surplus amounted to 11.1 billion. Euros compared to 11.9 billion. Euros in May 2014. Economists had forecast that the surplus of 16 bn. Euros.

Meanwhile, investors took a wait after Greece requested on Wednesday a new three-year lending program and promised some economic reforms.

Satisfied with the European leaders of Greece's request for an extension of emergency lending crisis summit on Sunday, will depend, to decide whether Prime Minister Alexis Tsipras pension cuts, tax increases and other austerity measures after five months of negotiations.

German Finance Minister Wolfgang Schaeuble said that "immediate consideration will begin only after will be a complete package of reforms."

The pound fell against the dollar, little impact on the bidding had a decision on monetary policy the Bank of England. As expected, it left rates unchanged (at 0.5%) and a program of asset purchases (375 billion. Lbs). Traders also drew attention to the results of the survey of the Royal Institution of Chartered Surveyors (RICS), which showed that UK house prices rose in June, the fastest pace in the last eleven months. According to the report, the monthly house price balance rose to 40 in June to 34 in May. Experts expect that figure to grow only up to June 36. The growth rate was the highest since July 2014.

The US dollar rose against the yen, rising to a six-week low of the previous session, as the Chinese stock markets rose sharply on Thursday morning, weakening demand for safe-haven assets.

The Chinese stock market fell on Wednesday, despite the fresh government measures to stabilize the market to strengthen investor confidence.

Sales increased on concerns about a slowdown in the second largest in the world economy and concerns about risks to the financial stability of the turmoil in the market.

On Thursday, the US Labor Department reported that the number of initial applications for unemployment benefits in the week ending 4 July increased by 15,000 to 297,000 from 282,000 the previous week. Analysts had expected last week, the number of appeals will be reduced by 7,000 to 275,000.

The dollar weakened slightly after the minutes of the June meeting of the Federal Reserve, released on Wednesday, showed that members of the committee want to see more signs of US economic recovery before you start lifting interest rates.

The minutes also indicate concern about the financial crisis in Greece, noting that in the case of a chain reaction in the global market crisis could disrupt plans for the Fed to raise rates.

Market Focus

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  • Australian unemployment rate stable at 5.6% in June
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