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03.09.2015 18:26

American focus: the euro fell sharply

The euro fell sharply against the US dollar after the European Central Bank has shown a willingness to introduce additional measures to stimulate the European economy.

Since March the ECB to buy government bonds worth about 60 billion euros a month, trying to stimulate inflation and economic growth in the euro area by increasing the money supply. However, the weak inflation data and a disappointing outlook for economic growth could force the central bank to extend the program of quantitative easing before the end of this year.

According to analysts based on comments from ECB President Mario Draghi, who have demonstrated a tendency to mitigate the monetary policy. In his remarks Draghi stressed "the willingness of the central bank to act if necessary." Thus, we can expect that the ECB will continue to undertake further efforts to achieve their goals.

Despite the ECB's program of quantitative easing, the euro has steadily increased over the past few months.

The weakening of the single currency could help European exporters by making their goods more affordable for overseas buyers.

The pound fell against the dollar, updating the yesterday's low, which was caused by the publication of weak data on PMI Britain. The research results, published by Markit Economics, showed that last month the UK service sector recorded its weakest rate of expansion more than two years, reflecting signs of economic weakness in the United States and China. The report says that the purchasing managers' index for the service industry fell in August to its lowest level since May 2013, amounted to 55.6 points. Recall that in July figure was at 57.4 points. Analysts believe that the index will rise to the level of 57.6 points. However, it should be emphasized, the rate remains above the 50 mark for 32 consecutive months, which is the second long-term series since the beginning of this statistic, namely July 1996. Despite the slowdown, the company services sector again increased the number of employees in August and at a faster pace than in July. However, the pace of job creation was slower than the average for the first half of 2015. Also, the data showed that input price inflation fell for the third month in a row, while selling prices rose slightly.

The by Markit said that given the latest statistics, the rate of economic growth in the UK is likely to slow to 0.5 percent in the three months to September, against 0.7 percent in the second quarter. "Even after taking into account the usual seasonal influences, in August, noted unexpected sharp slowdown in economic growth," - said the chief economist at Markit Chris Williamson.

The Canadian dollar rose after the data on the trade balance strany.Otchet published statistical agencies of Canada, showed that the trade deficit narrowed in July, in spite of expected gains, which increased hopes for economic recovery after a weak first half.

As it became known, the volume of Canadian exports rose in July by 2.3% and was mainly concentrated in the sector of non-energy goods. Excluding energy, exports increased by 4.0%. On the other hand, imports increased by 1.7%. As a result, the merchandise trade deficit with the rest of the world declined from 0.811 million. Canadian dollars to 0.593 million. Canadian dollars. It was expected that the deficit will expand to 1.3 billion. Canadian dollars.

Exports to the other, except for the United States increased by 2.9% to 10.7 billion. Canadian dollars, led by growth in exports to China by 11.7%. Meanwhile, imports from countries other than the United States decreased by 3.1% to 15.1 billion. Canadian dollars. Imports from the UK fell by 40.2%. Consequently, the deficit in trade with other countries except the US, declined in July from 5.2 billion. Canadian dollars to 4.4 billion. Canadian dollars.

Exports to the US increased by 2.1% to 34.7 billion. Canadian dollars. At the same time, imports from the US grew by 4.3% to 30.9 billion. Canadian dollars. As a result, the trade surplus with the United States in Canada decreased to 3.8 billion. Canadian dollars to 4.4 billion. Canadian dollars in June.

Total exports rose to 45.5 billion. Canadian dollars, reaching a peak with the July 2014 year. Increasing noted in 5 of 11 categories. The main increase in exports accounted for automobiles and parts, consumer goods, as well as aircraft and other transport equipment and parts. Increase in these categories was partially offset by lower exports of energy products.

Exports of vehicles and parts increased by 9.9%, to 7.6 billion. Canadian dollars., While exports of consumer goods rose by 7.3%, reaching a record $ 6.4 billion. Canadian dollars. Exports of goods and other materials rose by $ 619 million., To 1.4 billion. Canadian dollars. Sending planes, other transport equipment and spare parts increased by 19.2% to 2.4 billion. Canadian dollars. Meanwhile, exports of energy products fell 5.7%, to 7.3 billion. Canadian dollars.

Total imports rose to $ 46.1 billion. In July. Growth was observed in 8 of 11 categories. Increased imports of energy products, aircraft and other vehicles and spare parts, as well as electronic and electrical equipment and spare parts were partially offset by a decrease in imports of metals and non-metallic mineral products.

03.09.2015 16:13

WSE: Session Results

Market Focus

  • The eurozone started the third quarter on a solid footing, according to PMI survey data
  • Earnings Season in U.S.: Major Reports of the Week
  • German private sector output growth slowed for the second month running in July
  • ECB's Mersch says as conditions normalise, it is unlikely that uncoventional policies will remain necessary
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