Markets continue to mark in the minds, making a step forward and two steps back. Here is the case in the absence of decent catalysts, whether in nedelanii to move in the last days of summer. The flight from risk would continue, if not optimistic data from Europe. But the American economy has been nothing to boast about.
unexpectedly fell in July as the number of new buildings, and building permits in the United States, which said the weakening construction sector, compared with several previous months. The number of newly-seasonally adjusted fell by 1.0% to 581 thousand m /m. This report was even more grim than the previous ones, showed at least some stability of the housing market. These same PPI for July did not become a great event, because they simply complete the roller coaster of June-July. The index of producer prices in July reflected a decrease of 0.9% and the net index - on 0,1% annual values were -6.8% and 2.6% respectively. Thus, we have seen quite a moderate price increase, if not more. In such circumstances, to expect from Fedrezerva any real steps to tighten in the near future, it would be rather silly.
Today's American calendar of events almost empty, but those reports are still to be published, is unlikely to cause at least some interest in the markets. However, the remainder of the week and not expect something great - the hope for European markets.
EUR
For a slight strengthening of the dollar against the euro is by positive data on economic expectations. According to the research institute ZEW, in August, German index showed an increase after a sudden decline in July. He appreciated by 16.6 PTS. up to 56.1 against 39.5 in July, which was much higher than all predictions. It immediately recalled the recent reports confirming the withdrawal of Germany from a recession in the second quarter and start to think - and perhaps the truth, there is not so bad?
However, as today's data showed German producer price index, deflation remains a serious threat in the region. The rate has fallen considerably stronger than predicted by economists, again drawing attention to the issue of inertia in the ECB monetary policy. If the decline continues at the same rate, the forces of the region will be undermined: the double blow of weak demand and lower prices for goods and services can be devastating. Of the remaining records, only the balance of current operations, which are unlikely to cause concern in the markets.
GBP
If anyone had benefited from yesterday's oscillatory movement is the pound. As we anticipated, the markets closely followed the data on consumer inflation, and those were higher than forecasts, despite the pessimistic expectations of the Bank of England. In July CPI index did not change in monthly terms, although expected to see decline. Despite the volume decline in Britain, inflation has been higher than anticipated, and recent data do not coincide with the projections of the Bank of England, published last week in the inflation report. Nevertheless, it is to pay tribute to - the annual rate actually was below the 2% case the target level.
So, from a report on the CPI, we have not received an explanation of the recent expansion of quantitative mitigate the Bank of England. Thus, all hope is now only on the protocol of the meeting on the rate. It would beinteresting to see the distribution of votes of the members of MPC for and against buying further assets. This may help us in predicting the outcome of further meetings. If the decision was made minimal majority, this may provide additional support for the British currency.
JPY
In the currency market crosses with yenoy, traction indicators of risk, this morning were able to demonstrate a small increase, as market participants were confident that the positive on Wall Street will enable the Asian stock markets rise with the tribes. However, this has happened: Asian indices were not at an altitude that had more pressure on the crosses with yenoy. Japanese calendar for the next few days is empty, which means that the national currency and will continue to fluctuate under the influence of speculative trades.
Fatigue or laziness?
USD
Markets continue to mark in the minds, making a step forward and two steps back. Here is the case in the absence of decent catalysts, whether in nedelanii to move in the last days of summer. The flight from risk would continue, if not optimistic data from Europe. But the American economy has been nothing to boast about.
unexpectedly fell in July as the number of new buildings, and building permits in the United States, which said the weakening construction sector, compared with several previous months. The number of newly-seasonally adjusted fell by 1.0% to 581 thousand m /m. This report was even more grim than the previous ones, showed at least some stability of the housing market. These same PPI for July did not become a great event, because they simply complete the roller coaster of June-July. The index of producer prices in July reflected a decrease of 0.9% and the net index - on 0,1% annual values were -6.8% and 2.6% respectively. Thus, we have seen quite a moderate price increase, if not more. In such circumstances, to expect from Fedrezerva any real steps to tighten in the near future, it would be rather silly.
Today's American calendar of events almost empty, but those reports are still to be published, is unlikely to cause at least some interest in the markets. However, the remainder of the week and not expect something great - the hope for European markets.
EUR
For a slight strengthening of the dollar against the euro is by positive data on economic expectations. According to the research institute ZEW, in August, German index showed an increase after a sudden decline in July. He appreciated by 16.6 PTS. up to 56.1 against 39.5 in July, which was much higher than all predictions. It immediately recalled the recent reports confirming the withdrawal of Germany from a recession in the second quarter and start to think - and perhaps the truth, there is not so bad?
However, as today's data showed German producer price index, deflation remains a serious threat in the region. The rate has fallen considerably stronger than predicted by economists, again drawing attention to the issue of inertia in the ECB monetary policy. If the decline continues at the same rate, the forces of the region will be undermined: the double blow of weak demand and lower prices for goods and services can be devastating. Of the remaining records, only the balance of current operations, which are unlikely to cause concern in the markets.
GBP
If anyone had benefited from yesterday's oscillatory movement is the pound. As we anticipated, the markets closely followed the data on consumer inflation, and those were higher than forecasts, despite the pessimistic expectations of the Bank of England. In July CPI index did not change in monthly terms, although expected to see decline. Despite the volume decline in Britain, inflation has been higher than anticipated, and recent data do not coincide with the projections of the Bank of England, published last week in the inflation report. Nevertheless, it is to pay tribute to - the annual rate actually was below the 2% case the target level.
So, from a report on the CPI, we have not received an explanation of the recent expansion of quantitative mitigate the Bank of England. Thus, all hope is now only on the protocol of the meeting on the rate. It would beinteresting to see the distribution of votes of the members of MPC for and against buying further assets. This may help us in predicting the outcome of further meetings. If the decision was made minimal majority, this may provide additional support for the British currency.
JPY
In the currency market crosses with yenoy, traction indicators of risk, this morning were able to demonstrate a small increase, as market participants were confident that the positive on Wall Street will enable the Asian stock markets rise with the tribes. However, this has happened: Asian indices were not at an altitude that had more pressure on the crosses with yenoy. Japanese calendar for the next few days is empty, which means that the national currency and will continue to fluctuate under the influence of speculative trades.
Course of purchase dollar fell - an overview of the daily cash market
The rates for mortgages will decline within two years
At 16.00 Moscow time the volume of trades in the market for government securities MICEX was 30.03 billion rubles
Surgutneftegas, Tatneft, Gazprom Neft show growth of quotations on yesterday's values within 1.5%
Medium-term trend in the decline in the Russian equity market will continue
Financial, retail and technology stocks were the most successful on Tuesday, but the growth has been widespread
People came to Lucenko documents Rodovid Bank: looking for 2 billion
Analysis - Results of the day
Energy, World Stock Market, Currency Forecast …
Against the backdrop of podrosshey oil market looks a little better than oil and gas sector: Surgutneftegaz (1.3%), Gazpromneft (1%)