European session: the euro rose against the dollar significantly

Data

00:30 Australia NAB Quarterly Business Confidence Quarter III -1 3

08:00 Eurozone Current account, adjusted, bln August 16.9 17.7 17.4

08:30 United Kingdom Retail Sales (MoM) September -0.9% +0.5% +0.6%

08:30 United Kingdom Retail Sales (YoY) September +2.1% +2.0% +2.2%

The euro exchange rate against the dollar has increased significantly , jumping to a new 8 - month highs , despite the agreement on the U.S. budget , in which it agreed to fund the government until January 15, and the extension of the debt ceiling until February 7 . Facilitating the players on this decision was short-lived , as less than 3 months later the Americans will solve the fundamental problem of the new spending and the deficit.

In addition , we add that the pressure on the U.S. currency also had a message saying that today the Chinese rating agency Dagong announced its decision to downgrade the U.S. credit rating by one position to A- from A, leaving a negative outlook . In its decision, the agency referred to concerns about the country's ability to solve the problem of the debt crisis , as well as the damage done to the economy long " shatdaunom " government.

" So , the U.S. government continues to stand on the brink of default crisis , and in the foreseeable future, this situation will not change significantly ," - said in a statement accompanying Dagong.

Despite the fact that the solutions Dagong is not as important as the actions of Fitch, Moody's or Standard & Poor's, today's event is characterized by a rather symbolic value , says Reuters. There are also rumors about the intention Fitch will soon follow the example of Dagong.

The pound rose sharply against the dollar , helped by the publication of data on Britain. The Office for National Statistics said that the results of last month, the volume of retail sales rose moderately , thereby exceeded the forecasts of experts , which helped by higher sales .

According to the report , the September volume of retail sales increased by 0.6 % ( on a monthly basis ), which followed a decline of 0.8 % in the previous month. Many experts believed that this figure will rise to 0.5 %.

In addition, we add that annualized retail sales rose last month by 2.2 %, compared with a gain of 2.1 % in August , and the experts' forecasts at 2.0 %.

The Office for National Statistics reported that the sales of furniture accounted for half of the total monthly rise , making it possible to add about 0.3 percentage points.

Meanwhile , sales in the food industry mainly decreased in September by 0.2 % , while continuing to decline at 2.5% , which was recorded in August. Compared to the same period last year, sales of food products fell by 0.6 % , after falling 0.5 % in August.

The data also showed that with the exception of fuel, total sales rose by 0.7 % between August and September and by 2.8 % compared with September 2012 .

EUR / USD: during the European session, the pair rose to $ 1.3662

GBP / USD: during the European session, the pair rose to $ 1.6108

USD / JPY: during the European session, the pair fell to Y97.79

At 12:30 GMT Canada will present data on the volume of transactions with foreign securities in August , and the U.S. will report the volume of building permits issued and the number of Housing Starts in September. At 14:00 GMT the United States will present the production , Philadelphia Fed index for October.