Client support: Phone: (+357) 22314160

FX & CFD trading involves significant risk


Show news:

12.02.2016 19:22

American focus: The US dollar rose against major currencies

The US dollar appreciated strongly against the euro, approaching to the level of $ 1.1200, helped by the publication of data waiting on US retail sales. The growth of the dollar increased after it became known that sales increased more than forecast. Today, the Commerce Department reported that US consumer spending rebounded in January, as households increased their purchases of various goods, sparking hope that economic growth accelerated after slowing in late 2015. Retail sales excluding autos, gasoline and building materials and catering services increased by 0.6 percent last month after falling 0.3 percent in December. These so-called core retail sales is most closely correlated with consumer spending as a component of GDP. Economists had forecast that sales will increase by 0.3 percent. Growth in consumer spending, which accounts for over two-thirds of US economic activity was moderate in the fourth quarter. This, along with weak growth of exports due to the strong dollar, business efforts on selling stocks and reducing the cost of capital goods among energy companies, restrained GDP growth to an annual rate of 0.7 percent. Consumer spending is currently supported by the strengthening of the labor market. Overall, retail sales rose 0.2 percent in January, as cheaper petrol has led to a reduction in the cost of service stations and severe winter weather has reduced costs in restaurants and bars.

Sentiment also improved significantly on the background of rising oil prices after the Thursday evening Minister of Energy of the United Arab Emirates announced the availability of OPEC to negotiate with other exporters to cut production.

The British pound fell sharply against the dollar, returning to the level of opening of the session, as strong data on US retail sales supported the US currency. Earlier, during the trading session for a couple of influence increased demand for the pound and increased risk appetite. A slight effect on the dynamics of the pound have data on the volume of construction in the UK. British construction output grew at a slower-than-expected pace in December, after falling in the previous month, data showed on Friday, the Office for National Statistics. Construction output increased by 1.5 percent for the month in December, succeeding the fall of 1.1 percent in November. The expected growth rate was 2.0 percent.

The increase in December was largely due to an increase of 2.6 per cent of total new orders. This was offset by the repair and maintenance sector, which was down 0.5 percent. On an annual basis, construction output grew by 0.5 per cent at the end of the year, which was below the expectations of economists rise by 0.8 percent. In November, production fell by 0.9 percent. On the whole, in 2015 the total volume in the construction sector expanded by 3.4 percent in comparison with 2014 year.

The yen fell against the dollar significantly, approaching to yesterday's low in view of the increase in risk appetite and upbeat data on US retail sales. Support was also provided statements of the Federal Reserve Bank of New York William Dudley. He noted that the US economy is in good enough shape to withstand any shocks. "Despite an era of strong growth, monetary policy remains very accommodative. This somewhat limits its ability to reflect external shocks, but the good news is that it is now less susceptible to shocks. Consumer, are in good shape. Regulation of the financial system has improved thanks to enhanced capitalization of the banking sector ", - said Dudley.

Little influenced by the preliminary results of the studies submitted by Thomson-Reuters and the Institute of Michigan. It is learned that in February the US consumers feel more pessimistic about the economy than last month. According to published data, this month the index of consumer sentiment fell to 90.7 points compared with a final reading of 92.0 points in January. According to experts the average index had to stay at the level of 92.0 points.

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
July 2017
  • 2017
  • 2016
  • 2015
  • 2014
  • 2013
  • 2012
  • 2011
  • 2010
  • 2009
  • 2008
  • 2007
  • 2006
  • 2005
  • 2004
  • 2003
  • 2002


All posted material is a marketing communication solely for informational purposes and reliance on this may lead to loss. Past performance is not a reliable indicator of future results. Please read our full disclaimer.

To maximize our visitors browsing experience TeleTrade uses cookies in our web services. By continuing to browse this site you agree to our use of cookies. If you disagree, you may change your browser settings at any time. Read more

  • © 2011-2017 TeleTrade-DJ International Consulting Ltd

    TeleTrade-DJ International Consulting Ltd is registered as a Cyprus Investment Firm (CIF) under registration number HE272810 and licensed by the Cyprus Securities and Exchange Commission (CySEC) under license number 158/11.

    The company operates in accordance with Markets in Financial Instruments Directive (MiFID).

  • The information on this website is for informational purposes only. All the services and information provided have been obtained from sources deemed to be reliable. TeleTrade-DJ International Consulting Ltd ("TeleTrade") and/or any third-party information providers provide the services and information without warranty of any kind. By using this information and services you agree that under no circumstances shall TeleTrade have any liability to any person or entity for any loss or damage in whole or part caused by reliance on such information and services.

  • TeleTrade cooperates with SafeCharge Limited, which is an electronic money institution authorized and regulated by the Central Bank of Cyprus and is a principal member of MasterCard Europe and Visa Europe. We also cooperate with Moneybookers and Neteller, which offer electronic e-wallet services authorized and regulated by the Financial Conduct Authority.

    Please read our full Terms of Use.

  • To maximize our visitors browsing experience TeleTrade uses cookies in our web services. By continuing to browse this site you agree to our use of cookies. If you disagree, you may change your browser settings at any time. Read more

    TeleTrade-DJ International Consulting Ltd currently does not provide its services to residents or nationals of the USA, and also doesn't provide retail Forex and CFD accounts to residents or nationals of Belgium.

Connect with Us
Share on
social networks
Request a callback
Top Page