Market news
24.04.2015, 18:20

American focus: The dollar fell against major currencies

Euro back previously lost ground against the dollar, and again rose to the session high. The focus continues to be Greece. German Chancellor Angela Merkel said that had a constructive meeting with Greek Prime Minister Alexis Tsipras, and that we must do everything we can to Greece will not be left without money. Meanwhile, the head of the Eurogroup Deysselblum said that Greece must still submit a comprehensive reform program before it receives the additional funds necessary to fulfill its obligations. Deysselblum pointed to the deep divisions on reforms from a position of Greece and its international lenders. He added that the Greek issue will be addressed at a scheduled meeting in May. The head of the EU noted that time is running out, and all the responsibility for progress in resolving the problem lies on the shoulders of Athens. Deysselblum during a press conference that Greece transfer of the funds is not planned, so it is necessary to reach an agreement by June. The course of trade also influenced the report on the United States. The Commerce Department reported that orders for durable goods rose a seasonally adjusted 4% in March compared to the previous month. Decline in February by 1.4% not revised. Economists had expected overall orders to grow by 0.7% in March. The rise in the last month reflects the growth in demand for cars and goods of military and civil aviation, volatile categories, which can hide the underlying strength in the economy. Excluding transportation goods, orders fell 0.2%, noting the sixth consecutive monthly decline. Orders for non-military capital goods excluding aircraft - an indicator of the company's spending on equipment and software - fell 0.5% in March.


Pound continued to strengthen against the dollar, setting a new April high, due to the release of mixed US data. In addition, the market continues to follow the news on Greece. Experts note that the currency is showing resilience in the face of uncertainty surrounding the outcome of the election, which is due to the revision of expectations for the Bank of England. However, the markets to price in near-zero probability of a rate hike this year, the Central Bank.

The course of trade is also affected by expectations publication of data on Britain - on Tuesday released a report on GDP (expected to slow to 0.6% in Q4 to 0.5% in Q1), and on Friday - the manufacturing PMI, which can show a decline.


The Swiss franc strengthened slightly against the dollar, reaching at this level opening session. Influenced the course of trading statements of the SNB Thomas Jordan. Established by the Swiss National Bank (SNB) negative interest rates - is a tool necessary to limit the demand for a country's currency, which rate is overvalued, but they did not become a regular feature of the economy, the president said the SNB Thomas Jordan. According to him, low interest rates around the world have created a very difficult situation for the country's economy, the exchange rate is "much too high". This situation has forced the central bank to introduce in January negative interest rates to limit the demand for the franc, Jordan said. He also said that negative interest rates will play a "very important role" as long as the upward pressure on the franc not weaken further in terms of global economic recovery.

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