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- European session: the euro fell sharply
European session: the euro fell sharply
Data
00:01 United Kingdom Rightmove House Price Index (MoM) March +2.8% +1.7%
00:01 United Kingdom Rightmove House Price Index (YoY) March +1.1% +1.2%
00:30 Australia New Motor Vehicle Sales (MoM) February -2.4% 0.0%
00:30 Australia New Motor Vehicle Sales (YoY) February +10.8% +9.4%
06:45 Switzerland SECO Economic Forecasts Quarter II
10:00 Eurozone Trade Balance s.a. January 10.3 3.4 9.0
Meanwhile, a team of Deutsche Bank analysts said that even if small depositors with deposits have suffered, it is impossible not to think that this decision has crossed a line, and now all EU investors will look for alternative places of storage, regardless of the size of the deposit. In addition, they say that now you would think that because the markets are calm enough, this problem is unlikely to spread far, however, this solution can easily enhance future crises in Europe, as all will be wary of the risk of lost deposits, no matter what they say policy, or what the terms of insurance. "
But, despite this sharp decline, the single currency rose back to $ 1.2977, after it became known that the government of Cyprus scheduled for today postponed a parliamentary vote on the conditions for the country's financial aid. However, later the representative of Cyprus said that the discussion of the matter was postponed to tomorrow.
Pound at the beginning of the week was up against the euro by about 120 points. This evolution of the single currency due to its reaction to the innovations in the financial assistance program for Cyprus. Note also that the impact on the exchange rate and the data from the Agency of Statistics of the European Union, which were presented not seasonally adjusted, in January imports exceeded the amount of the euro area exports, against which was a deficit of $ 3.9 billion ( $ 5.1 billion). Meanwhile, add that to a seasonally adjusted exports rose by 2.0%, while imports rose by 3.1%, which will allow a surplus of EUR9.0 billion, compared with a revised downwards from the previous month at EUR10.3 billion surplus. Note that according to the average estimates of experts, the surplus was to drop to 3.4 billion euros, compared with a surplus at 12.0 billion, which was originally reported. Eurostat also said that Germany's trade surplus totaled EUR186.7 billion, compared with EUR157.4 billion in 2011, while the Netherlands and Ireland also showed a significant excess of exports over imports.
At 12:30 GMT, Canada will report on the volume of transactions with foreign securities in January.
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