Market news
23.12.2013, 19:20

American focus : the euro rose

The euro rose against the dollar, while data on consumer sentiment in the U.S. went out a little weaker than expected . According to the report , the final index of consumer sentiment University of Michigan and Reuters in December remained at the previous estimate of 82.5 and was against the November final value of 75.1 . Economists had expected the final index of consumer sentiment in December will remain almost unchanged at 82.9 . In late December, the current conditions index rose to 98.6 , after earlier this month it jumped to 97.9 from November's final value of 88.0 . The expectations index fell to 72.1 from 72.7 in early December.

Another report showed that the indicator of national economic activity FRB Chicago has grown significantly in November, which allowed to raise an average of three to nearly 2 -year high. It became known from the data , which were presented by the Federal Reserve Bank of Chicago .

According to the report , the economic activity index of the Chicago Fed rose last month to a level of 0.60 points , compared with a revised downward index for October at -0.07 points ( originally reported -0.18 points). Meanwhile, add that a more objective measure , namely the three-month average value rose to 0.25 points from 0.12 points in October , while reaching the highest level since February 2012 .

These signs of growth were echoed recently improving U.S. economic indicators . We also add that these figures preceded the Fed's policy statement that the central bank will begin to reduce the amount of stimulus measures next month .

In turn , the latest data from the Commerce Department showed that Americans stepped up their spending in November , which portends a good season for holiday sales and a new signal that the U.S. economic recovery is gaining momentum. According to the report , the amount of personal spending rose last month by 0.5 percent , compared with a revised upward index for October at 0.4 percent (originally reported growth of 0.3 percent ) . We add that the November increase was the largest since June this year. Meanwhile, we note that the recent rise has fully confirmed the average forecast of experts. The report also said that the amount of personal income rose in November by 0.2 percent, after falling 0.1 percent in October . According to economists , the increase should have been 0.4 percent.

The Canadian dollar rose against the U.S. dollar on the back of strong GDP data for Canada. Recent data presented previously by Statistics Canada showed that Canada's economy grew faster in October than expected, thus fixing the fourth increase in a row. Note that a major factor in the increase in GDP turned monthly gain in the manufacturing sector , which proved most over the past two years, which suggests that economic growth in the fourth quarter may not be far from the indicators that have been recorded in the previous three months .

According to the report , the gross domestic product , which estimates the total amount of goods and services produced in the country, rose in October by 0.3 percent , demonstrating the same pace as in September. In addition, data showed that the annualized GDP growth accelerated to 2.7% from 2.4% previously , which allowed to fix the strongest growth since May 2012 .

At Statistics reported that the main support GDP growth had production in the manufacturing sector , which grew by 1.3 per cent , showing the best result since December 2011 . This growth, along with a 1.2 percent increase in September , said the best performance of this sector for two consecutive months from December 2010 and January 2011 .

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