Market news
16.04.2013, 12:00

European session: the euro has increased significantly

Data

01:30 Australia RBA Meeting's Minutes April

01:30 Australia New Motor Vehicle Sales (MoM) March -0.1% -0.6%

01:30 Australia New Motor Vehicle Sales (YoY) March +9.4% +4.5%

02:55 Australia RBA Assist Gov Debelle Speaks

07:15 Switzerland Producer & Import Prices, m/m March +0.1% 0.0% 0.0%

07:15 Switzerland Producer & Import Prices, y/y March +0.1% -0.2% -0.3%

08:30 United Kingdom RPI-X, Y/Y March +3.2% +3.2% +3.2%

08:30 United Kingdom Retail Price Index, m/m March +0.7% +0.4% +0.4%

08:30 United Kingdom Retail prices, Y/Y March +3.2% +3.3% +3.3%

08:30 United Kingdom Producer Price Index - Input (MoM) March +3.2% -0.3% -0.1%

08:30 United Kingdom Producer Price Index - Input (YoY) March +2.5% +0.4% +0.4%

08:30 United Kingdom Producer Price Index - Output (MoM) March +0.8% +0.3% +0.3%

08:30 United Kingdom Producer Price Index - Output (YoY) March +2.3% +2.0% +2.0%

08:30 United Kingdom HICP, m/m March +0.7% +0.3% +0.3%

08:30 United Kingdom HICP, Y/Y March +2.8% +2.8% +2.8%

08:30 United Kingdom HICP ex EFAT, Y/Y March +2.3% +2.3% +2.4%

09:00 Eurozone ZEW Economic Sentiment April 33.4 31.5 24.9

09:00 Eurozone Harmonized CPI March +0.4% +1.2% +1.2%

09:00 Eurozone Harmonized CPI, Y/Y (Finally) March +1.7% +1.7% +1.7%

09:00 Eurozone Harmonized CPI ex EFAT, Y/Y March +1.3% +1.4% +1.5%

09:00 Germany ZEW Survey - Economic Sentiment April 48.5 41.5 36.3

09:30 United Kingdom BOE Inflation Letter April


The yen fell against the dollar, despite yesterday's strengthening against the measures easing of monetary policy by the Bank of Japan, which continue to put pressure on the Japanese yen. Note that the dynamics of trade affected the official information published today, which showed that the international rating agency Moody's changed the rating outlook of China's government bonds to stable from positive, confirming its rating to "Aa3". At the same time it was announced that Moody's affirmed the short-term rating in foreign currency at the level of "P-1". Note that this information was provided in a press release from the agency. Meanwhile, the paper by Moody's reported that credit indicators continue to comply with the PRC rated "Aa3", which is supported by continued economic growth, sustainable public finances and exceptionally stable balance of payments. At the same time, it was noted that neither the Chinese government nor the banking sector does not depend on external funding, reducing the vulnerability of the economy to international financial shocks.

Meanwhile, given the current information, the agency's analysts noted that progress in reducing the hidden risks by increasing the transparency of local government and curb rapid credit growth was not as strong as expected. In this regard, the probability of increasing the rating down.

The euro exchange rate rose sharply against the dollar, helped by dannye.Zametim submitted that according to the final results, which were presented today by the European Central Bank, following last month's annual rate of inflation in the euro area declined, being at the same time below the target level.

Economists note that the decline in upward pressure on consumer prices reduces one more obstacle for monetary stimulus from the ECB to support the affected economies of the eurozone in the coming months. Meanwhile, it was observed that not all countries have benefited from the reduction to the same extent. As it became known, the level of inflation has remained considerably higher than the average in Spain and the Netherlands, where falling incomes in real terms undermines the chances of recovery. According to the report, in March the annual rate of inflation in the 17 countries that use the euro fell to 1.7%, compared with 1.8% in February, confirming an earlier estimate. We also add that the March figure was the lowest since August 2010.

The data also showed that the decline stood at the head of the price of transport fuel, telecommunications, and medical services. At the same time, it was reported that electricity prices have risen.

Meanwhile, the impact on the dynamics of trade expectations publication of statistics by the United States.

In the U.S., is expected to slow the pace of increase in the CPI to 1.6% from 2% in February. In addition to the U.S. Census Bureau will publish data on the number of new buildings in the country in March, as well as the number of building permits issued during the period. Analysts believe that the number of new homes in the U.S. will grow by 1.4% compared to February and totaled 930,000 against 917,000, while the number of building permits issued during the same period increased by 0.4% - to 943,000 against 939,000 in February.

The pound fell to a three-week low against the euro after a report showed that consumer prices remained above the target of the Bank of England. As shown by the latest official data, which were released today by the Office for National Statistics, the inflation rate in the UK remained stable in March, but is still ahead of wage growth.

According to the report, the annual rate of consumer price inflation in March remained at 2.8%, despite the expectations of economists to rise to 2.9%. As it became known to affect the dynamics of a slowdown in prices gasoline, alcohol, and furniture, which was partially offset by a substantial annual increase in the price of books, DVD-ROMs and auto insurance premiums. In addition, the Office for National Statistics reported that the inflation rate producer prices slowed in March to 2%, compared to the same period in the previous year, registering with the lowest rate since July. Recall that in February, the inflation rate was 2.3% in February. At the same time, the data showed that the company's expenses for raw materials fell in March by 0.1%, which was associated with a reduction in the price of crude oil. However, in the ONS noted that the stability of consumer prices and the slowdown in inflation in producer prices may be short-lived. We add that the forecast of the Bank of England, the annual inflation rate will rise this year and will be above its target of 2% to about 2016.



EUR / USD: during the European session, the pair fell to $ 1.3026, after which rose to a high of $ 1.3125


GBP / USD: during the European session varies in the range of $ 1.5270-$ 1.5318


USD / JPY: during the European session, the pair rose to Y98.01


At 12:30 GMT Canada will report on changes in the volume of production and the supply volume of transactions with foreign securities in February. At the same time, the U.S. will announce the amount of building permits issued, the number of Housing Starts, the consumer price index, consumer price index excluding prices for food and energy, the Consumer Price Index (not seasonally adjusted) and the main index of consumer prices for March . At 13:15 GMT the United States will be released capacity utilization, and become aware of a change in the volume of industrial production in March. At 16:30 GMT Swiss SNB Vice-Manager Jean-Pierre Danthine a speech. At 20:30 GMT the United States will announce the change in the volume of crude oil, according to the API for April. At 22:45 GMT New Zealand will release the consumer price index for the 1st quarter.


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