Euro/dollar. Reviews dealers
Euro/dollar recovered from losses suffered following the publication of weak German GDP data, but attempts to resume growth continue to be used to eliminate accumulated longov and dealers do not preclude the development of correction in the short term. They note that the foot appear in the area of $ 1.4360 euro dollar and breakthrough to them might lead to a deterioration of attitudes and pave the way to $ 1.4340 euro dollar and potentially to $ 1.4300 euro dollar. The proximity of the upper bound of the range since April of this year makes the bulls on Euro ", with the news that the ECB continues to buy bonds peripheral eurozone without optimism by investors. Last week volume of purchases increased to E22 billion euro (the maximum value was in May 2010 e-16.5 billion euro), resulting in the balance sheet of the ECB have now proved assets already on E96 billion. The ECB claims that his actions are not quantitative easing and planned funding equivalent sterilization this week, but market participants strongly concerned about the expansion of the balance sheet of the ECB and doubt that if you continue, these measures can effectively sterilizing the liquidity of the ECB, taking into account that the amount of the bond market in Italy and Spain is okoloE 2.1 trillion euros. Asian Market remains weak, dollar euro does not want to fall
During the Asian trading session rate Euro/dollar does not issue from a recent 3-week maximum, since market participants hope that the forthcoming meeting of the President of France and Chancellor of Germany will lead to action to contain the spread of the debt crisis in the eurozone. According to comments by Finance Minister of France Francois Baruena, Sarkozy and Merkel will focus on proposals to tighten the enforcement of the rules of the EU budget and increase coordination of national economies.
In turn, the US dollar is under pressure from their macroeconomic statistics. Projected United States Department of Commerce today will publish data on the number of new housing construction for July, which should reflect the decline in the annual rate at 4.6% to 600000 homes and building permits, which are an indicator of future buildings in a given month, falling to 1.9% to 605000 homes.
In June, the FED United States officially ended its second program of quantitative easing and now renewed talk of a potential third asset buy-back programme. Yesterday, the President of the Atlanta FBI Dennis Lockhart said that the Central Bank may start buying more Treasury bonds or United States change its balance sheet, if the economy will continue to slow. "The United States, you may need to develop more adaptive measures, such as the possible QE3 if the labour market and real estate will remain weak. This will put pressure on the dollar. Trend weakening dollar and rising Yen is likely to continue, "such an opinion expressed Tosia Yamauchi, senior foreign exchange analyst of Ueda Harlow Ltd in Tokyo.
The Bank of Japan, trying to rein in the strengthening of the national currency, faced with another challenge: a shrinking spread yield of 2-year-old Japanese and American debt securities. Remember that the 4 August, the head of the BoJ noted "pretty high" correlation between the spread, today the age of 19-year-old minimum 3.7 basis points and the dollar/yen. "The situation may force the Bank of Japan to switch attention to bonds with a higher duration asset purchase programme that should lead to a slight growth of yield short-term securities and thereby to support the dollar," analysts Mizuho Securities in Tokyo.
On the first day of trading on the new week, the dollar did not enjoy love investors poumerivsih pessimism and returned to the purchase of risky assets. Podstegnutye Google's announcement about purchase of Motorola and Warren Buffett that he again went into action on large movements last week, S&P closed higher by more than 2% slightly above 1200. The single currency was the main winner of the fall of the dollar. At one point the euro gaining authority for day 2 shapes, scheming with 1.45 level at the close of the shorts, but since then the course has pivoted to levels below 1.44. Rumours that Eurobonds can be discussed at the meeting, Sarkozy and Merkel also caused the closure of some short positions on the euro. The vysokbetovym currencies, such as OSSI and Norwegian krone, the dollar also fell sharply, losing at some point to 1.5 per cent. OSSI already approaching the level of 1.05, barely a week after a brief call below parity. Major currencies won against the dollar and Swiss franc-early in the day he was close to 0.80, but as land leaves from under the feet of USD svissi, out again following 0.78.
United States dollar rose against most major rivals. Reason for the increase was the continuing demand for Exchange with the status of the safe haven after the final statement the FED only heightened the fears of certain further growth of the world economy. The euro fell against the dollar amid concern the further spread of the crisis in the EU. Investors fear that the credit rating of France, the second largest economy in Europe after Germany might be downgraded by the Agency S&P, even though the main rating agencies confirmed it on the level "AAA".
Swiss franc retreated from reached highs against the dollar after the National Bank of Switzerland said that it would be "substantially increase" liquidity reserves and increase deposits to prevent the strengthening of the national currency.
Canadian dollar retreated against the American dollar amid fears of slowing economic growth in the United States, Canada's largest trading partner. CAD has also put pressure on the drop in oil prices, the main component of Canada's exports, which had not supported today, even the report of the United States Department of energy, which recorded a decline in stocks of crude oil at 5.23 million barrels versus expectations of growth at 1.35 million barrels.
EUR/USD: on the basis of yesterday's session, the pair declined $ 1.4160 area.
01:30 Australia Protocols meeting of Reserve Bank of Australia
06:00 Germany GDP, kV/kV II m2 +1.5% +0.5%
06:00 Germany GDP, g/g II m2 +4.9% +2.9%
08:30 United Kingdom retail price index m/m, 0.0% -0.2%
08:30 United Kingdom retail price index, g/g, +5.0% +5.0%
08:30 United Kingdom consumer price index m/m, -0.1% -0.1%
08:30 United Kingdom consumer price index, g/g, +4.2% +4.3%
08:30 United Kingdom consumer price index, the base value, g/g, +2.8% +3.0%
09:00 Eurozone GDP, kV/kV II M2 +0.8% +0.3%
09:00 Eurozone gross domestic product (GDP), g/g II m2 +2.5%
09:00 Eurozone trade balance with seasonal amended June -0.6 0.3
12:30 United States Bookmark new homes, g/g, mln. July 629K 608K
12:30 United States construction permits, m/m, m, 620K 605K
13:15 United States industrial production m/m, +0.2% +0.5%
13:15 United States capacity utilization, 76.7% of 76.9%
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