European session: the euro rose

 Data

04:00 Switzerland SNB Chairman Jordan Speaks -
06:45 France Industrial Production, m/m August +0.2% +0.1% +1.5%
06:45 France Industrial Production, y/y August -3.1% -4.2% -0.9%
 

The euro rose against the dollar and the yen on expectations of the outcome of the meeting and Hollande Raho and publication of the Beige Book.

Slightly disappointed investors was the fact that the Ministry of Finance at a meeting of Europe rescue program was not discussed in Spain due to the fact that the country sees its position in the financial markets as a rather favorable. According to the IMF report, Spain has become the country with the greatest economy in the euro zone program in 2012-2013, and at the same time one of the states, which marked the largest increase in total debt of weaker growth.

Industrial output in France, Italy and Greece rose unexpectedly in August (1.5% m / m in France, 1.7% m / m to 5.2% y / y vs. -7.2% previously in Italy and by 2% y / y vs. 4% in Greece). The trade deficit widened in June, Portugal from € -1.997 bln. up to € -2.183 billion German wholesale price index rose by 1.3% m / m and 4.2% y / y in September, exceeding forecasts.

The British pound rose against the dollar after the annual conference of the Conservative Party Prime Minister David Cameron said that Britain's economic recovery will take longer than expected, and the reduction of the deficit will be a key aspect to stimulate growth. He also noted that the reduction in interest rates is the main tool for improving the picture on the labor market.