Market news
24.03.2014, 18:40

American focus : the euro exchange rate rose substantially against the U.S. dollar

The euro exchange rate against the dollar rose sharply , returning with all previously lost ground and setting a new high . Impact on the dynamics of the U.S. data , as well as statements by the Fed . As it became known , the index of business activity in the U.S. industry from Markit in March , according to preliminary data , down to 55.5 . Preliminary data include approximately 85% of the respondents' answers . The business activity index fell to 45 -month high , but growth continues. The growth rate was only slightly lower than the three-year high , which the index reached in February. Manufacturers say that the higher level of output due to an increase in new orders , and the desire to reduce the backlog . Companies began to overcome deceleration caused by weather conditions in the winter. The growth rate of export orders decreased but continues for the second month in a row.

Meanwhile , the president of the Federal Reserve Bank of San Francisco John Williams said that the Fed last week did not make assumptions about what the Fed will start raising rates earlier than expected . Investors appreciated earlier comments from Fed Chairman Janet Iellen on Monday that the first rate hike could begin six months after the completion of the redemption of bonds as a "hard" . Williams said that such expectations were on the market, and he sees nothing that would indicate intention to tighten monetary policy sooner than expected . Williams called regarded as a "signal of tightening policy" simply a response to a comment recently yield stronger -than-expected unemployment data.

The Australian dollar rose against the U.S. dollar, which has been associated with the decision agency Fitch, as well as U.S. data . Note that the rating agency Fitch announced its decision to leave Australia at the same rating at AAA with a stable outlook , as the country has managed to maintain stability to external shocks due to " the presence of a strong economic and institutional foundations , including the highly developed and flexible economy , as well as a reliable political rate and effective political and social institutions . " However, the agency noted factors , mainly related to the slowdown in China's economy that could potentially determine the downgrade in the future : deterioration in the trade balance, large-scale problems in the banking sector or unsuccessful rebalancing the economy.

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