Market news
25.09.2013, 12:15

European session: the euro rose

06:00 Germany Gfk Consumer Confidence Survey October 7.0 Revised From 6.9 7.1 7.1

06:00 Switzerland UBS Consumption Indicator August 1.41 1.32

10:00 United Kingdom CBI retail sales volume balance September 27 24 34


The euro rose against the dollar after data on consumer confidence in Germany. Consumer confidence in Germany rose to the highest post-crisis levels in October , said Wednesday the research group GfK. German consumers have joined the companies and investors who have previously demonstrated a growing optimism about the prospects for the euro zone 's largest economy .

GfK consumer climate index rose to 7.1 in October , while the index for September was also revised up by 0.1 points to 7.0. October value was the highest level since June 2007 . The result was in line with analysts' forecasts . The component " willingness to buy " added 0.6 points to 45.0 points in September , and remains at the highest level since December 2006 . The economic expectations component rose by 8.9 points to 10.7 . On the other hand , expectations of household income fell a second month in a row after four consecutive periods of growth , a decline of 3.5 points to 33.7 - although this result is still very high by historical standards .

The yen continued to rise against most major currencies after the decline of stock markets in Asia and the United States associated with the expectations of difficult negotiations between the White House and Republican opposition on the issue of raising the debt ceiling . If it does not improve , then the end of October in the U.S. may default on debt . In addition, the Congress will adopt a budget for the new fiscal year, which begins in the U.S. on October 1 . The U.S. Senate on Monday began its consideration of the bill , which provides funding for state institutions since the beginning of the new fiscal year (October 1) until December 15 , but providing for the refusal to finance health care reform - one of the major initiatives of President Barack Obama. The bill was approved on Friday the House of Representatives, controlled by Republicans.

The British pound rose against the dollar after data on retail sales in the UK. According to the Confederation of British Industry (CBI), retail sales in September rose at the highest rate in 15 months. This indicates that consumer confidence continues to strengthen and are promising sector, which is an important part of the economy. The volume index of retail sales in September reached 34 , the highest level since June 2012 , when he was 42. In August, the index was equal to 27 . The index measures the difference between the percentage of retailers reporting a rise in sales and the share of companies that reported a decline in sales compared with the same period last year.


EUR / USD: during the European session, the pair rose to $ 1.3519


GBP / USD: during the European session, the pair rose to $ 1.6057

USD / JPY: during the European session, the pair fell to Y98.37

In the U.S., at 12:30 GMT will change in orders for durable goods , a change in orders for durable goods excluding transportation equipment in August , a 14:00 GMT - sales in the primary market in August , in the 14:30 GMT - data on stocks of crude oil from the Ministry of Energy .


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