The Euro rose after strong data on business activity in the Eurozone and Germany
Asian and European trading sessions:
Euro: The euro rose against the dollar after strong data on business activity in the euro zone and Germany. The Eurozone private sector actively grew in December more than it was expected by economists. On a seasonally adjusted composite index of production, which measures the performance of the manufacturing sector and the services sector rose to 52.1 December from 51.7 in November. Economists had expected a modest increase to 51.9. Activity index for the manufacturing of Germany rose in December to its highest level in thirty months, indicating a much more rapid increase in activity. The seasonally adjusted purchasing managers' index (PMI) for the manufacturing rose to 54.2 in December from 52.7 in November. Value in December was the highest in thirty months. The economists had expected the index to rise to 53.1. The EUR / USD pair rose to $ 1.3790 during the European session.
British Pound: The pound rose against the dollar, recovering from the lows. An economic calendar for Britain today presented only data on the housing market. According to Rightmove real estate agency, the average asking price for homes for sale on the website Rightmove, was 1.9 % lower in December compared to November, but remained 5.4% higher than at the end of 2012. In November, house prices fell by 2.4% m / m and raised 4.0 % y / y. The GBP / USD pair fell to $ 1.6290, and then rose to $ 1.6353 during the European session.
Japanese Yen: The yen strengthened, departing from the five-year low, in anticipation of the meeting of the Open Market Committee Federal Reserve, which will be held December 17-18. Investors' opinions on the possible solutions to the Central Bank following this meeting differ. About 34 % of those surveyed analysts expect the American Central Bank will begin to curtail quantitative easing program at the upcoming meeting. Against this background, a volatility of currency trading was sharply increased. The USD / JPY pair rose to Y103.20 during the European session.
American trading session:
Canadian dollar: The Canadian dollar was trading lower against the U.S. dollar, but has regained some of the previously lost positions. The moderate impact on the couple had the data that showed that investments in securities of non-residents of Canada in October totaled $ 4.4 billion and mainly occurred in corporate debt instruments.
Gold: The gold futures rose sharply, allowing recovering of all early losses, and updating the session high. Such dynamics were related to the fact that many traders were waiting for the Fed meeting, which will take place this week, and can provide hints about the quantitative of easing program, which plays an important role for gold. The cost of February gold futures rose to $ 1242.15 per ounce on the COMEX today.
Oil: The oil prices rose today, while rising above $ 97 per barrel (WTI), against a background of renewed concerns over supplies from Libya. As it became known, Libya failed to reach agreement with tribal leaders to put an end to the blockade of several oil-exporting ports. The price of January futures of WTI rose to $ 97.60 a barrel on the NYMEX.
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