Market news
08.11.2012, 13:27

European session: The pound rose

 

  

06:45 Switzerland Unemployment Rate October 2.9% 3.0% 2.9%

 

 

07:00 Germany Trade Balance September 18.1 17.2 17

07:45 France Trade Balance, bln September -5.3 -5.0 -5.03

12:00 United Kingdom Asset Purchase Facility - 375 375 375

12:00 United Kingdom BoE Interest Rate Decision - 0.50% 0.50% 0.50%

12:00 United Kingdom MPC Rate Statement -

12:45 Eurozone ECB Interest Rate Decision - 0.75% 0.75% 0.75%

13:15 Canada Housing Starts October 225 215 204

13:30 Canada Trade balance, billions September -1.1 -1.4 -0.8

13:30 Canada New Housing Price Index September +0.2% +0.2% +0.2%

13:30 Eurozone ECB Press Conference -

13:30 U.S. International trade, bln September -44.2 -44.9 -41.5

13:30 U.S. Initial Jobless Claims - 363 373 355

 

The euro fell to a two-month low against the dollar after German exports fell sharply in September amid falling demand from the euro-zone members. It was another sign that the sovereign debt crisis, after all, reached the borders of Germany. According to the submitted data on Thursday, German exports in September fell by 2.5% compared with August, which graded the growth in the previous month. Compared to the same period of the previous year in September exports fell by 3.4% on a decline in orders from the EU. Of particular concern are the orders from the part of the countries that use the euro, which fell by 9.1% compared with the same period last year.

Earlier, the euro rose against the dollar after the Greek parliament on the eve of yet approved a new package of austerity measures. "For" voted 153 out of 300 deputies - one of the necessary conditions for obtaining the next tranche of international aid, which would allow the country again to avoid a formal bankruptcy. The next (and last) condition - the approval of the budget for 2013, which is expected at the weekend.

Euro remained unchanged against the dollar after the ECB left rates unchanged at 0.75%. Now attention is focused on the markets of the press conference of the head of the Central Bank Mario Draghi.

The pound rose against the euro and the dollar after the Bank of England refrained from increasing its asset purchase program. As expected, today the Bank of England kept interest rates at 0.5%, and the size of asset purchase program - of 375 billion pounds. The last time the rate changed March 5, 2009, and increased QE by 50 billion pounds of 5 July 2012. Minutes of this meeting will be published on 21 November, while the central bank will release 14 November inflation report.

 

EUR / USD: during the European session, the pair rose to $ 1.2776, and then fell to $ 1.2718

GBP / USD: during the European session the pair fell to $ 1.5928, and then rose to $ 1.6004

USD / JPY: during the European session, the pair rose to the level Y79.98

 

At 13:30 GMT to begin monthly press conference of the ECB. At 13:30 GMT the U.S. will trade balance for September, the number of initial claims for unemployment insurance and the number of repeated applications for unemployment benefits. At 18:10 GMT a speech head of the Bank of Canada.


 

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