At the end of July holiday, even the currency demand, the more that they had a very busy year working with active movements and abrupt changes of mood. If it were not so but the records for profits, I do not know what we did - so at least there is talk about what (Bernanke yesterday reiterated what has been said previously). So, the most positive news was the announcement that Goldman Sachs paid $ 1.1 billion more U.S. government in addition to the $ 318 million dividend, which had been given earlier. Wells Fargo profits exceeded forecasts, but Morgan Stanley and Bank of New York Mellon caused disappointment. That is why we have seen a weakening in the stock markets, as demand for risky positions somewhat weakened, bringing the currency market to a state of coma.
Regarding economic surveys, there is also little to be live. The number of applications for mortgages rose a minimum rate. However, a separate report showed that house prices jumped to 0.9% m /m, while the annualized drop of 5.6%. The loss of jobs and a record number of housing exclusion for debt kept buyers at the time of the spring sales season, usually when there is an increase volume of trade in real estate. The theme of the housing market will continue today. Given that the construction sector there has been revival (the number of new buildings and building permits had increased), the volume of sales in the secondary housing market may well podrasti, although this is unlikely to be able to rastolkat sleepy market rates. Pay attention to the number of unemployment benefits - remember that the housing market remains one of the key indicators of the American economy.
EUR
euro if not continued growth, but strong utsepilsya for their profits, and remained within a narrow range throughout the whole of yesterday. Economic calendar, as usual in recent times, has remained aloof. The volume of industrial orders in the euro zone in May continued to decline, hitting on expectations of recovery of European economies. In monthly terms, the decline was 0.2%, and in years - 30,1%, which is the maximum easing since December 1998. Although studies of industrial sector in the euro zone indicated a rapid end to the cyclical downturn, particularly in Germany, the demand for manufactured goods is likely to remain low in the near future.
Today will be published on the balance of current operations, the euro, which is unlikely to bring big surprises. Thus, the market is likely to remain in the same state of hibernation, while bearing in mind that a pair of Euro /dollar remains above $ 1.40 mark, upward trend continues.
GBP
Pounds was able to slightly stronger U.S. dollar in silence. Unfortunately, the minutes of last meeting, as expected, did not bring any surprises. Perhaps the consensus about the current policies and the level of interest rate and saved the British currency from falling. Thus, we are now still waiting for August to see whether the MPC needed to activate the additional incentive programs.
only yesterday's report showed that total orders in the manufacturing sector in Britain declined sharply in July, while price pressures eased significantly. The total volume of orders showed a negative balance of -59% to -51% in June, reaching a minimum value since January 1992. Export orders were far in the negative zone, the balance recorded in July at -45%, which, however, proved to be the best balance of -52% in June. Nevertheless, the expected output slowed the pace of decline, showing the balance of -14% to -17% in June. Today we will see a report on retail sales, as well as data on mortgage lending from the VVA. If consumer demand indicators point to recovery again, this may support the pound, and send it to the nearest resistance above $ 1.6540.
JPY
Jena had to pay profits against the dollar. According to rumors, the strengthening yen is due to opposing actions of the investment fund Toushin. In addition, we have received, and economic data. The trade balance of Japan in June rose at a slow decrease in exports. In June, the surplus amounted to Y508.0 billion, which is 388.0% higher than a year earlier. In May, the surplus fell by 12.6%. Nevertheless, the June surplus was slightly lower than the expected value of Y650 billion this way, we continue to watch as the export-oriented economy is beginning to show the same signs of recovery, which has repeatedly said power. The slowdown in the reduction of export performance - this is good news.
Give the foreign exchange market holiday!
USD
At the end of July holiday, even the currency demand, the more that they had a very busy year working with active movements and abrupt changes of mood. If it were not so but the records for profits, I do not know what we did - so at least there is talk about what (Bernanke yesterday reiterated what has been said previously). So, the most positive news was the announcement that Goldman Sachs paid $ 1.1 billion more U.S. government in addition to the $ 318 million dividend, which had been given earlier. Wells Fargo profits exceeded forecasts, but Morgan Stanley and Bank of New York Mellon caused disappointment. That is why we have seen a weakening in the stock markets, as demand for risky positions somewhat weakened, bringing the currency market to a state of coma.
Regarding economic surveys, there is also little to be live. The number of applications for mortgages rose a minimum rate. However, a separate report showed that house prices jumped to 0.9% m /m, while the annualized drop of 5.6%. The loss of jobs and a record number of housing exclusion for debt kept buyers at the time of the spring sales season, usually when there is an increase volume of trade in real estate. The theme of the housing market will continue today. Given that the construction sector there has been revival (the number of new buildings and building permits had increased), the volume of sales in the secondary housing market may well podrasti, although this is unlikely to be able to rastolkat sleepy market rates. Pay attention to the number of unemployment benefits - remember that the housing market remains one of the key indicators of the American economy.
EUR
euro if not continued growth, but strong utsepilsya for their profits, and remained within a narrow range throughout the whole of yesterday. Economic calendar, as usual in recent times, has remained aloof. The volume of industrial orders in the euro zone in May continued to decline, hitting on expectations of recovery of European economies. In monthly terms, the decline was 0.2%, and in years - 30,1%, which is the maximum easing since December 1998. Although studies of industrial sector in the euro zone indicated a rapid end to the cyclical downturn, particularly in Germany, the demand for manufactured goods is likely to remain low in the near future.
Today will be published on the balance of current operations, the euro, which is unlikely to bring big surprises. Thus, the market is likely to remain in the same state of hibernation, while bearing in mind that a pair of Euro /dollar remains above $ 1.40 mark, upward trend continues.
GBP
Pounds was able to slightly stronger U.S. dollar in silence. Unfortunately, the minutes of last meeting, as expected, did not bring any surprises. Perhaps the consensus about the current policies and the level of interest rate and saved the British currency from falling. Thus, we are now still waiting for August to see whether the MPC needed to activate the additional incentive programs.
only yesterday's report showed that total orders in the manufacturing sector in Britain declined sharply in July, while price pressures eased significantly. The total volume of orders showed a negative balance of -59% to -51% in June, reaching a minimum value since January 1992. Export orders were far in the negative zone, the balance recorded in July at -45%, which, however, proved to be the best balance of -52% in June. Nevertheless, the expected output slowed the pace of decline, showing the balance of -14% to -17% in June. Today we will see a report on retail sales, as well as data on mortgage lending from the VVA. If consumer demand indicators point to recovery again, this may support the pound, and send it to the nearest resistance above $ 1.6540.
JPY
Jena had to pay profits against the dollar. According to rumors, the strengthening yen is due to opposing actions of the investment fund Toushin. In addition, we have received, and economic data. The trade balance of Japan in June rose at a slow decrease in exports. In June, the surplus amounted to Y508.0 billion, which is 388.0% higher than a year earlier. In May, the surplus fell by 12.6%. Nevertheless, the June surplus was slightly lower than the expected value of Y650 billion this way, we continue to watch as the export-oriented economy is beginning to show the same signs of recovery, which has repeatedly said power. The slowdown in the reduction of export performance - this is good news.
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