European session: the euro fell moderately against the U.S. dollar

Data

8:40 Speech UK executive director for financial stability Andy Haldane of the Bank of England

10:00 Eurozone sentiment in the business environment of the ZEW institute in January 68.3 70.2 73.3

10:00 Germany Consumer Sentiment Index in the business environment of the ZEW institute in January 62.0 63.4 61.7

11:00 UK factory orders balance of the Confederation of British Industry January 12 11 -2

The euro exchange rate fell moderately against the dollar, which was associated with the release of weak data on Germany. The results of recent studies , which were presented earlier today institute ZEW, showed that German economic expectations fell in January , contrary to forecasts for growth. But , despite the recession , the mood still remain elevated. According to the report , the sentiment index fell in the business environment in the current month to the level of 61.7 points compared to 62.0 points in December . It is worth noting that many economists predicted that this figure will rise to the level of 63.4 points. Nevertheless , we add that the index remained well above long-term average at 24.4 points.

The data showed that 254 analysts and institutional investors were optimistic about the current economic conditions. We add that the ZEW indicator on current conditions rose in January to a level of 41.2 points, compared to 32.4 points in December .

We also learned that the economic expectations for the eurozone rose in January. The corresponding figure improved by 5.0 points to 73.3 points. Indicator of the current economic situation in the euro area rose by 6.2 points to minus 48.2 points level .

Pound was able to recover from the lows against the dollar , reaching levels at this opening session. Noticeable influence on the bidding had data that were presented today by the Confederation of British Industry . They showed that the balance of industrial orders fell sharply in January, but the index that assesses the prospects for the next three months was at the highest level over the past two years. According to the report , the January balance promzakazov dropped to -2 points, compared with 12 points last month . Many experts expect that this figure is only slightly worse , but it is up to 11 points. In addition, it was reported that the balance of demands for the next three months rose to 22 points from 14 points , and reached the highest level since April 2012 . We also add that new orders in the three months to January, showed the largest increase in nearly three years .

The data also showed that the quarterly balance of prospects for the companies declined to 21 in the three months to January 24 in the three months to October ( the highest since April 2010 ) . Recall that the British manufacturing sector is gradually recovering from the financial crisis , but remains below its peak in 2008 , underscoring the problem re- rebalancing the economy to reduce dependence on domestic consumption.

The dollar rose against the yen, halting a three-day decline , on expectations that the Fed will continue to minimize the program of quantitative easing QE at the January meeting , to be held January 28-29 . According to the median forecast of economists , the Fed will reduce the amount of government foreclosures and mortgage debt by $ 10 billion and will do so at each subsequent meeting until the end of the QE program this year. Experts note that the " variables still point to a further appreciation of the dollar . State of the U.S. economy will gradually improve . In statements Fed traced more determination against folding QE ».

EUR / USD: during the European session, the pair fell to $ 1.3515 , then recovered slightly

GBP / USD: during the European session, the pair rose to $ 1.6451 , but then fell to $ 1.6398 , then returned to the opening level

USD / JPY: during the European session, the pair rose to Y104.75

At 13:30 GMT , Canada announces the change of volume of production and supply changes in the volume of wholesale trade in November. At 23:30 GMT Australia will release the consumer confidence index from Westpac in January .