The rate of the euro fell sharply against the U.S. dollar immediately after the announcement of the ECB rate decision
February 7, 2014, Friday, 18:44 GMT | 13:44 EST | 00:14 IST | 02:44 SGT
Asian and European trading sessions:
Euro: The rate of the euro fell sharply against the U.S. dollar, while losing all positions receive immediately after the announcement of the ECB rate decision. The ECB decided to leave the refinancing rate at around 0.25 %. Meanwhile, add that to the announcement of the decision at a rate little impact on the euro was a report on Germany, which showed that the number of manufacturing orders unexpectedly fell in December, while orders from the euro zone have increased significantly, potentially signals of recovery. According to the data, the results of December industrial orders fell by 0.5% (seasonally adjusted), which was followed after increasing 2.4% in November (revised up from 2.1 %). Many experts expected increase in the number of orders by 0.3%. Earlier this week, an industry group VDMA also reported a disappointing year for the completion of the major machine builders, but some experts still predict an increase in total orders. The EUR / USD pair fell to $ 1.3485 during the European session.
British Pound: The British pound retreated from a session low against the dollar, however, continued to trade slightly lower. Pound had little support that the Bank of England left interest rates at 0.5% as expected. Program of asset purchases was also left on the 375 billion accompanying statement was not, but the head of the Central Bank Governor Mark Carney said earlier that he was not going to raise rates earlier, and that the target level of unemployment rate in the 7.0 % is not a factor that triggers the policy tightening . It was expected that the minutes of the meeting reflect the increased emphasis on the bank's inflation. Recall that the inflation report last month reflected the value at the target of 2.0 % for the first time in the last 4 years.
Little impact on the currency also had a report that showed that the rise in house prices in the UK slowed slightly in the last month, and confirmed the average forecast of experts. This was stated in the report of Halifax. According to figures for January house price index rose by 7.3 % per annum, compared with an increase of 7.5% in December. In monthly terms, the house price index rose 1.1% in January, while offsetting the 0.5% decline in the previous month, which was revised downward from -0.6%. Expectations were at the level of 0.4%. The GBP / USD pair fell to $ 1.6265, and then recovered to $ 1.62865 during the European session.
American trading session:
Canadian dollar: Data from Statistics Canada showed that Canada's deficit in trade in goods has increased to 1.7 billion Canadian dollars in December, despite the forecasts of experts on growth. Last reading was the highest since November 2012. Meanwhile, it was reported that the deficit for November was revised up to 1.5 billion Canadian dollars from the initial assessment at the level of 0.9 billion Canadian dollars. Many analysts expected in December will be recorded surplus in the amount of 1.0 billion. The USD / CAD pair rose sharply, setting a maximum level CAD1.1120, which is associated with this release of disappointing data on the trade balance in Canada.
Gold: The gold prices declined after rising early in the session on the background of recovery in stock markets and data applications for unemployment in the United States. The cost of the April gold futures rose to $ 1267.40 per ounce and then fell to $ 1252.60 per ounce on the COMEX today.
Oil: The cost of oil brand West Texas Intermediate raised after a report showed that applications for unemployment benefits in the U.S. fell for the first time in three weeks. The March futures price for WTI rose to $ 98.85 per barrel on the NYMEX.