Market news
29.01.2014, 13:15

European session: the euro fell


07:00 United Kingdom Nationwide house price index January +1.4% +0.7% +0.7%

07:00 United Kingdom Nationwide house price index, y/y January +8.4% +8.1% +8.8%

07:00 Germany Gfk Consumer Confidence Survey February 7.7 Revised From 7.6 7.8 8.2

07:00 Switzerland UBS Consumption Indicator December 1.43 1.81

09:00 Eurozone M3 money supply, adjusted y/y December +1.5% +1.0%

12:15 United Kingdom BOE Gov Mark Carney Speaks


Euro fell against the U.S. dollar , amid reducing lending to the private sector in the euro area . According to the European Central Bank lending to the private sector in the euro zone fell in December compared with the same period of the previous year as well significantly , as in the previous month. According to published data, in December , as well as in November , lending to the private sector decreased by 2.3%.

Last spring, the housekeeper eurozone emerged from a protracted recession, which was particularly severe in Southern Europe, where the cost of credit for small businesses is much higher than in other regions of the eurozone. Nevertheless, the economic recovery remains slow and insufficient to curb unemployment, which is held at a record high levels. According to economists , the economic recovery may not be sustainable if the banks start to lend more actively firms and households .

The report also showed that the M3 broad money supply grew by only 1 percent in December , after expanding by 1.5 percent in November. Economists had expected the index to rise 1.7 percent. During the period from October to December M3 money supply grew by 1.3 percent compared with the same period last year. Such growth rates are far below the " reference value " of the ECB 4.5 % , which, according to the central bank , consistent with the mandate of price stability.

Earlier, the euro rose , supported by data on the index of consumer confidence in Germany. German consumer confidence index improved for the fifth month in a row in February amid recovery of the growth momentum in the country. These are the results of a survey conducted by a group GfK. Expected consumer confidence index rose to confidently 8.2 points from a revised 7.7 points in January . The latter figure is the highest level since August 2007 . Economists had expected the index to rise only to 7.8 .

Income expectations index rose to a 13- year high of 46.2 points in January from 39.5 in December. Measure of economic expectations jumped to 35.3 from 23.3 . The result is the highest since July 2011 . Readiness Index to purchase rose to 50 from 46.1 , noting the highest level since the end of 2006 .

The British pound rose against the dollar earlier after the release of U.S. data on the growth in housing prices. In the UK house prices rose at the fastest pace in more than three and a half years in January, supported by strong growth in employment, record low mortgage interest rates and increasing confidence . Such a survey conducted nationwide housing society.

The housing price index rose by 8.8 per cent per annum in January , marking the fastest increase since May 2010 , when prices rose by 9.8 percent . Prices by about 4 per cent below the peak in 2007 . Economists had expected prices to rise in January by 8.1 percent . In December, the index recorded an increase of 8.4 per cent . Housing prices rose a seasonally adjusted 0.7 percent compared to December , when they rose 1.4 percent. Expectations were at a gain of 0.7 percent. The average house price in the UK has now reached 176,491 pounds, which is more than 175,826 pounds, registered in December.


EUR / USD: during the European session, the pair rose to $ 1.3685 , but then fell to $ 1.3615


GBP / USD: during the European session, the pair rose to $ 1.6606 , but then fell to $ 1.6542

USD / JPY: during the European session, the pair dropped to Y102.60


At 19:00 GMT we will know the FOMC decision on the basic interest rate , the rate of repurchase program MBS and Treasury bonds, the accompanying statement will be made FOMC. At 20:00 GMT we will know the RBNZ decision on the basic interest rate , will be made accompanying statement RBNZ . At 21:45 GMT New Zealand will release the change in the volume of building permits issued in December. At 23:50 GMT , Japan will introduce a change in retail sales in December.

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