Market news
05.12.2012, 13:12

European session: the euro fell

 

 

08:50 France Services PMI (finally) November 46.1 46.1 45.8

08:55 Germany Services PMI (finally) November 48.0 48.0 49.7

09:00 Eurozone Services PMI (finally) November 45.7 45.7 46.7

09:30 United Kingdom Purchasing Manager Index Services November 50.6 51.1 50.2

10:00 Eurozone Retail Sales (MoM) October -0.2% -0.1% -1.2%

10:00 Eurozone Retail Sales (YoY) October -0.8% -0.8% -3.6%

12:30 United Kingdom Autumn Forecast Statement December

 

The euro fell against the dollar amid rising peripheral bond yields and weak retail sales data.

At today's auction has placed Spain 3 -, 7 - and 10-year bonds in the amount of € 4.25 billion from € 4.50 billion planned yield on 3-year securities was 3.390%, and 7-year - 4.669%, 10-year - 5.29%. The results were quite good, although after sales yield on 10-year bonds showed growth.

Eurozone retail sales fell more than expected in October on the back of weak performance in Spain, particularly in Germany, as reflected seasonally weighted Eurostat report. The index fell by 1.2% m / m and 3.6% y / y and was 1.6% lower than the average of Q3, which was restored by 0.1% after falling 0.8% in Q2. The sale of food, beverages and tobacco products fell by 0.8% in October, excluding food - by 1.4% after falling 1.1% in September.

The business activity of the private sector eurozone declined again in November, but less than in the previous month, and less than that reported previously. This was evidenced by the survey of purchasing managers by Markit Economics, published on Wednesday. Reported Purchasing Managers Index (PMI) for the euro zone service sector in November rose to 46.7 against 46.0 in October and 45.7 preliminary estimate published last month.

The British pound is trading steadily against the dollar, not reacting to the disappointing data for the services sector, which indicate that in the 4th quarter the economy could once again showed a fall after she had just barely escaped the recession.

The Australian dollar was trading above $ 1.0400, as the data that established the slowing of the Australian economy in the 3rd quarter was not enough to create significant pressure on the Australian dollar. Last quarter, growth in the Australian economy slowed amid falling domestic demand, the value of which reached 2.5-year low, and reducing government spending, which has forced the Central Bank of the country previously to lower interest rates. In annual terms, Australia's GDP rose 3.1% from a revised 3.8% the previous figure, as shown by the Bureau of Statistics released today in Sydney. The result coincided with analysts' forecasts. In the quarterly equivalent of the rise was 0.5% versus 0.6% in the previous period.

EUR / USD: during the European session, the pair rose to $ 1.3126, and then fell to a new intraday low of $ 1.3060

GBP / USD: during the European session, the pair is trading in the range of $ 1.6091 - $ 1.6118

USD / JPY: during the European session the pair fell to Y82.06

 

In the U.S. 13:15 GMT GMT will change in the number of employees from ADP for November at 13:30 GMT - changes in the level of labor productivity in the non-manufacturing sector in Q3, at 15:00 GMT - the composite index of ISM non-manufacturing sector, the volume change industrial orders for October. At 15:30 GMT Britain publishes autumn forecast of the Treasury. At 15:30 in the U.S., there are data on stocks of crude oil from the Department of Energy. At 19:30 GMT New Zealand publish house price index from REINZ, changes in the volume of home sales from REINZ for November. At 20:00 GMT we will know the decision of the Reserve Bank of New Zealand Interest Rate, will hold a press conference of the Reserve Bank of New Zealand, the accompanying statement will be made of the Reserve Bank of New Zealand, will be published minutes of monetary policy of the Reserve Bank of New Zealand.


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