Market news
25.02.2013, 13:34

European session: the euro rose

09:00 Italy Parliamentary Election

09:30 United Kingdom BBA Mortgage Approvals January 33.6 34.2 32.3


Euro strengthens, pending the outcome of the parliamentary elections in Italy. The voting process will end at 14:00 GMT, and the first results will be around 15:00 GMT. The most likely scenario, which would be positive for the euro, will be an alliance between the center-left Bersani and Mario Monti.

A preliminary report from Italy showed that in January, the trade balance, excluding EU countries amounted to - € 2.281 billion versus + € 3.317 billion a month earlier. Last month, Spain's PPI fell by 3.3% (revised from 2.7%) to 2.6%. Today, the Italian government sold two-year zero coupon bonds in the amount of 2.818 billion euros ($ 3.71 billion), short of the upper threshold of the forecast range of 3 billion euros.

The British pound has stabilized after a decline at the opening of the day, after the international rating agency Moody's Investors Service has downgraded by one notch, from Aaa to "Aa1", the UK government bond rating. The rating outlook - "stable." The Agency, in particular, pointed to the risks to the financial situation of the country due to the economic slowdown. Moody's expects the UK government debt in the coming years, as the rise of the British economy will be slow and uncertain, at least until 2016. Accordingly, the UK will continue to adhere to measures to reduce public spending. In January of approved applications for mortgages BBA in Britain fell by 33.6 thousand to 32.3 thousand vs. 34.2 thousand

Yen compensate the losses incurred in response to rumors (not yet confirmed) that the prime minister Abe appoint new head of ADB President Kuroda, a supporter of the additional stimulus. At the opening of the Asian session, the yen fell to a three-year low against the dollar on news reports that Japanese Prime Minister Shinzo Abe formally put forward for the post of Central Bank nominee Harika Kuroda, head of the Asian Development Bank. Kuroda advocated aggressive monetary measures to stimulate the economy. Japanese Prime Minister Shinzo Abe to formally nominate the 68-year-old Kuroda in the middle of the week, after which it must be approved by Parliament. Kuroda said the real reach 2 per cent inflation for two years, thus defeating the long-term deflation. At the same time, the official confirmation of the upcoming nomination Kuroda to head the Bank of Japan yet. The current head of the Central Bank leaves his post on March 19.


EUR / USD: during the European session the pair has shown a steady growth up to $ 1.3318



GBP / USD: during the European session, the pair is trading in the range of $ 1.5110 - $ 1.5165

USD / JPY: during the European session the pair updated intraday low Y93.76


At 17:15 GMT The head of the Bank of Canada to make a speech. At 21:15 GMT a speech assistant chairman of the Australian central bank Guy Debelle.

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