American focus: dollar regained lost ground

The US dollar rose against most major currencies after a decline earlier in the session. Support for US currency had data on initial applications for unemployment benefits. The number of Americans who first applied for unemployment benefits decreased last week, indicating that the labor market recovery. This was reported in the Labor Department report. The number of initial applications for unemployment benefits fell by 1,000 to a seasonally adjusted, reaching 264,000 in the week ended May 9th. Economists had expected 275,000 new claims. We also add the figure for the previous week has not been revised. Meanwhile, it became known that the moving average for 4 weeks, which smooths the volatile weekly data, fell by 7750 - up to 271,750 (the lowest value since April 2000). Meanwhile, the number of people who continue to receive unemployment benefits has not changed and amounted to 2.229 million. For the week ended April 18. Recall data on re-treatment come with a week delay.

In addition, the prices of US manufacturers decreased by the end of last month, a sign of stable low inflation in the economy. The Labor Department said the seasonally adjusted producer price index fell in April by 0.4%, offsetting an increase of 0.2% in the previous month. The main index, which excludes prices of food and energy, also fell 0.2%. Excluding food, energy, and trade services, producer price index rose 0.1%. Economists had expected an overall increase of 0.2%, while the main index - 0.1%. Compared to April last, producer prices fell by 1.3% and the core index rose by 0.8%. Recall, the producer price index, as well as most of the indicators of inflation, declining fairly steadily since the middle of last year. The drop mainly reflects cheaper oil, the cost of which exceeded $ 100 in the summer, but then fell below $ 50 earlier this year. Now oil is trading near $ 60. The report also reported that producer prices of energy decreased by 2.9% compared to March and by 24% per annum. Gasoline prices fell 4.7% last month, while the cost of food fell by 0.9% in monthly terms and by 4.2% per annum. Also, the data showed that the price index for intermediate demand, which tracks the cost of commodities used as raw materials for production, fell by 1.1% in April, recording the ninth monthly decline in a row. Compared to the previous year index decreased by 7.8% (maximum rate in September 2009).

The pound rose against the dollar earlier, approaching at the same time to a maximum of 27 November. Experts note that the pound managed to survive the dovish tone of the Quarterly inflation report the Bank of England, published yesterday, and now records the growth for the second week in a row. Investors pay attention to the statements of the Bank of England manager Mark Carney. Asked in an interview with BBC radio about changing the record low interest rates by this time next year, Carney said: "It's possible, but it depends on the evolution of the economy. We're not going to raise interest rates too early or too fast and slow down the economy" . Also, Carney said that the low productivity in the UK - one of the consequences of the financial crisis - will gradually rise. CB Chairman noted that the British economy will continue to be faced with "headwinds" from the weak global economic growth, the fiscal policy of the government and the strengthening of the pound sterling.