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Forex

The rate of pound has sharply decreased, despite of almost empty calendar across Britain

May 29, 2014, Thursday, 14:49 GMT | 09:49 EST | 18:19 IST | 20:49 SGT
Contributed by Forex-Metal

Asian and European trading sessions:

Euro: The rate of euro has a little decreased against dollar, having got under influence of weak data across Germany. As it became known, German unemployment has unexpectedly grown in May, having fixed the first increase for half a year that strengthened concern of restoration of the largest economy of the Europe. The federal agency of work has declared: in view of seasonal fluctuations the quantity of people without work has grown reaching a level 2,905 million. Many economists predicted decrease on 14 thousand after reduction by 25 thousand in April. But, despite of such change, the corrected rate of unemployment has remained on a mark of 6,7 percent - a minimum for more than two decades. The rate of unemployment in Germany is twice less, rather than on the average on an Eurozone where it makes 11,9 % that is close to a historical record. Data also have shown: the number of unemployed has grown on 16 018 people in the Western Germany and on 7919 person in east part of the country. Somewhat weakness of parameters spoke soft weather in the end of winter and in the beginning of spring which led to earlier set of seasonal workers, than usually, approves department. Also in the ministry noted, that the job demand remains at “a good level ". The EUR/USD pair has decreased up to $1.36035 during the European session.

British Pound: The rate of pound has sharply decreased, despite of almost empty calendar across Britain. Experts mark: the pound has got under pressure in view of some factors - a delay of transaction Pfizer which could provoke reduction of bids, and also weak data under the approved applications for the mortgage, calling into question restoration of the market of habitation. The pair could not overcome resistance on $1.6820 and has lowered below $1.6750 where was not since May, 15th on disappointment of investors. Nevertheless, falling of the price - an excellent opportunity for purchases, therefore any decrease can be accompanied by short-term recoil. If and will occur, the nearest purpose becomes a level of resistance $1.6880.

Small pressure was rendered by today's data on an index of retails from Confederation of the British Industrialists, appeared worse forecasts (the parameter has fallen up to +16 with +30 in April though experts predicted growth up to +36). The GBP/USD pair has fallen up to $1.67405 during the European session.


American trading session:

Swiss Franc: The rate of the Swiss Franc has slightly decreased that has been connected with an output of the report across Switzerland. According to the data of the State secretary published today on economic questions, growth of economy of Switzerland in 1-st quarter was accelerated on 0.5 % in comparison with the last quarter, and on 2,0 % in comparison with the same period of the last year. These results have almost coincided with forecasts of economists which expected growth on 0,5 % in comparison with 4-th quarter, and on 2,1 % - in comparison with 1-st quarter of the last year. The positive contribution to growth of gross national product basically has brought balance of foreign trade in the goods and services, and also investments into construction. Now the secretary predicts growth of gross national product of Switzerland on 2,2 % in it to year and on 2,7 % in 2015. The updated forecasts of secretary under gross national product, inflations and unemployment will leave on June, 17th. The Swiss national bank expects that the national economy in it to year will grow on 2 %.

Gold: The prices for the gold, that were kept in two months range, started to decrease: futures for precious metal in New York have fallen up to a minimum for 15 weeks on a background of growth of the American share market up to record-breaking high levels. Cost of the June future for gold has fallen up to $1257.0 for ounce on COMEX today.

Oil: The prices for oil continued to decrease, as the intensity in Ukraine and in Libya were kept and it put pressure upon the market. Cost of July futures for the American easy oil of mark WTI has fallen up to $103,41 for barrel on the New York commodity exchange.