Topic: Daily Market Reviews From Forex-Metal

Market review for 07.01.14: The U.S. dollar modestly rose against major currencies after the release of U.S. trade balance.


Asian and European trading sessions:


Euro:
The euro exchange rate rose sharply against the dollar, which was associated with the publication of data on inflation in the euro area, which surprised the experts. A preliminary report from the EU statistical agency showed that the Eurozone annual inflation unexpectedly fell last month, reviving concerns about the fact that it could threaten the “fragile " recovery of the currency bloc. According to the report, on an annual basis, the consumer prices rose by only 0.8 % in December, compared with an increase of 0.9 % per annum in November and expectations at 0.9 %. Recall that in October, inflation was 0.7 %, and this prompted the ECB to lower its benchmark interest rate to the lowest level, namely to 0.25 %, to stimulate the economy. The ECB seeks to achieve the inflation rate below 2.0 %. In addition, the data showed that core inflation, which excludes prices for food and energy, was in December, only 0.7%. The EUR / USD pair rose to $ 1.3658 during the European session.

British Pound: The pound rose against the dollar, retreating from a session low, which was associated with the release of a report showed that sales of cars in the UK have returned to pre-crisis level of car sales in the UK in 2013 exceeded the 2007 figure. This auto market has become the busiest in Europe thanks to cheap credit and rising consumer confidence. The car sales last year rose by 10.5% to 2.26 million units. In 2014, experts also predicted growth based on sustainable recovery unexpectedly UK. In 2013, there were only sold by 6% fewer cars than in the pre-crisis 2007 (2.4 million), and only 300,000 less than a year a historic high. Three-quarters of Britons are buying cars on credit, using the low rates and stimulate the state program. The GBP / USD pair rose to $ 1.6430, and then retreated slightly during the European session.

Japanese Yen: The yen traded lower against the dollar as the Bank of Japan reported on the change in the monetary base of the country. The index for December rose by almost 47 % compared with the previous year to a record 193.5 trillion yen ($ 1.85 trillion). Recall that the purpose of the Bank of Japan from December 2012 to double the monetary base to 270 trillion yen by the end of this year. Also decline in the yen was associated with operation of stop orders. According to traders, it happened after the Japanese stock market offset losses incurred earlier.

American trading session:

U.S. Dollar: The U.S. dollar rose modestly against major currencies after the release of U.S. trade balance. Recent data from the U.S. Department of Commerce showed that exports continued to grow in November, while providing more evidence that high rates of growth abroad can improve performance for the U.S. economy. According to the report, the seasonally adjusted U.S. exports increased in November by 0.9 % compared with the previous month, reaching at this level of $ 194.860 billion, which was the highest in history. Imports, meanwhile, fell by 1.4% - to $ 229.110 billion. Given these changes, the trade deficit narrowed in November to $ 34.250 billion, compared with a revised downward deficit the previous month at $ 39.330 billion. We add that the latter figure was the lowest since October 2009. Many experts predicted a decline in the trade deficit to only $ 40.2 billion from $ 40.6 billion. The global economy showed signs of stabilizing in recent months, and provided potential momentum heading for the U.S. in the New Year. Weakness in Europe, Japan and some emerging markets put pressure on U.S. exporters for most of the recovery. Furthermore, the data showed that U.S. exports increased by 5.2 % compared with a year earlier, led by sales growth in China, Mexico and Canada. U.S. exports to China from January to November rose by 8.7% compared with the same period a year earlier. The exports to Canada, which is the largest trading partner for the United States, increased by 2.5 % over the same period.
Gold: The price of gold was reduced by a stronger dollar after data on the U.S. trade balance. The cost of the February gold futures dropped to $ 1224.10 per ounce on the COMEX today.

Oil: The oil price rose by stopping the longest series of declines since August, on fears that the clashes between the Iraqi government and militants linked to “Al Qaeda " could disrupt oil production. The February WTI futures rose to $ 94.15 a barrel on the NYMEX.

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Market review for 13.01.14: The pound continued to suffer losses on the background of revaluation of the UK economy in Q1.


Asian and European trading sessions:

British Pound: The pound continued to suffer losses on the background of the revaluation of the UK economy in Q, which doesn’t work in pound’s favor. The recovery of UK tells that for now the growth will continue, but at a slower pace, limiting further strengthening of the GBP/USD couple. The pair from the opening level of $1.6489 slipped to week low of $1.6340.

Japanese Yen: The yen has risen considerably against the U.S. dollar, which is probably a reaction to the publication on Friday employment report in the U.S., which came after the close of Asian markets last week. Many analysts pointed to a lower Treasury yields after data on employment as a sign of a deeper decline of the dollar against the yen. The USD / JPY pair rose to Y103.59 during the European session.

Australian dollar: The Australian dollar reached a one-month high against the dollar after the volume of mortgage lending in Australia increased in November. The Australian Bureau of Statistics reported on Monday that the total number of mortgages in Australia rose to a seasonally adjusted 1.1% in November compared with the previous month and was 52 912.The main indicators coincided with economists' forecasts, after rising 1.0 % in October.
Total number of loans for the construction of new homes rose by 2.3 % to 5686. The credits for the purchase of new homes fell 4.3 % to 2856, while loans to purchase housing on the secondary market rose by 1.4 % to 44,370. The volume of loans rose to 1.7 %, remaining unchanged from the previous month and totaled 26.934 billion Australian dollars. Investment lending rose by 1.5 % for the month and amounted to 10.383 billion Australian dollars, slowing from growth of 8.5 % in October.

American trading session:

U.S. Dollar
: The dollar rose slightly on the bidding comments influenced by the Atlanta Fed President Dennis Lockhart, who said that if the economy will confirm his expectations, so, probably it is expected that reducing the bond buyback program during the next months will continue.

Gold: The gold prices have stabilized today, little departing from the one-month high, as many experts have continued to analyze the weak U.S. data of employment. The February gold futures rose to $ 1248.90 per ounce on the COMEX today.

Oil: The oil prices fell today as Iran agreed to dismantle its nuclear program, starting on January 20 in accordance with the terms of the deal, which will facilitate some sanctions against the fifth- largest oil producer in OPEC. The February futures price of WTI fell to $ 91.99 a barrel on the New York Mercantile Exchange.

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Market review for 14.01.14: The euro rose after strong data on industrial production in the euro area.


Asian and European trading sessions:

Euro: The euro rose against the U.S. dollar after strong data on industrial production in the euro area. Eurozone industrial production in November rose at the highest rate in three and a half years, indicating that the currency GDP at the end of 2013 increased in the third consecutive quarter . Unexpectedly strong growth in eurozone’s manufacturing reduced doubts about the sustainability of economic recovery. Although the results of the poll in the business world in the last quarter of 2013 were positive, the official data were weak. The industrial production, production in construction and retail sales fell in October.
The statistical Office of the European Union reported that industrial production in November rose by 1.8% compared to October, and by 3% compared with the same period last year. These data were better than forecast. Also, the October data were revised upward. The Eurostat reported that industrial production in October fell by 0.8 %, whereas the previously reported 1.1% decline. The growth in industrial production in November compared with the previous month was the highest since May 2010, when it rose by 2%. Annualised growth was the highest since August 2011, when industrial production rose by 5, 5% .The EUR / USD pair rose to $ 1.36700 during the European session.

British Pound: The British pound rose against the dollar on U.S. data on slowing inflation in Britain. The inflation in the UK fell unexpectedly in December and reached the target level of 2 per cent of the Bank of England for the first time since 2009, the Office for National Statistics reported.
Consumer prices rose by 2 % year on year, after rising 2.1 % in November. According to forecasts, inflation was to remain stable at 2 %. On a monthly basis, the consumer prices rose by 0.4 %, which is faster than the growth of 0.1 % posted in the previous month. Excluding energy, food, alcoholic beverages and tobacco products, core inflation declined marginally to 1.7 % in December from 1.8 % in November. In a separate statement, the ONS said inflation producer prices accelerated to 1 % in December from 0.8 % a month earlier. Compared to November, the prices for products remained unchanged. Purchase prices, at the same time, decreased the second consecutive month in December. Prices fell by 1.2 % per annum, after easing to 1 % in November. On a monthly basis the purchase prices increased by 0.1 %. The GBP / USD pair rose to $ 1.64450 during the European session.

Japanese Yen:
The yen fell against all major currencies after the publication of a report on the current account deficit in Japan. In November, this figure Japan widened to a record value, as imports grew. This again highlighted the problems for Prime Minister Shinzo Abe, who is trying to achieve sustainable economic growth. The USD / JPY pair rose to Y103.79 during the European session.

American trading session:

U.S. Dollar: The support for the dollar was from the U.S. data, which showed that retail sales rose 0.2 % last month, in line with expectations. Car sales fell 1.8 %, pulling down the broader indicators. For the automotive industry, this was a record year, and the slowdown in December is considered more a reflection of poor weather conditions and calendar amendments than the beginning of a new trend. Excluding autos, the retail sales rose by December confident 0.7%. Values of retail sales for previous months were revised down to an increase of 0.5 % in October and in November, rising by 0.4%. Total retail sales for 2013 increased by 4.2 % compared with the previous year, slowing the pace of 2012 to 5.4% and 7.5% growth in 2011.

Gold: The gold prices rose today, while reaching its highest level in a month, which was due to the depreciation of stocks and uncertainty about growth prospects after a disappointing U.S. employment data announced at last week. The cost of the February gold futures rose to $ 1252.30 per ounce on the COMEX today.

Oil: The WTI prices for crude oil rose today, offsetting losses the previous session, while Brent oil price fell, which was associated with an additional increase in Libyan oil supplies and expectations that Iranian oil will return to the market. The February futures price of U.S. light crude oil, WTI rose to $ 92.15 per barrel.

4 (edited by Forex-Metal 2014-01-20 01:56:59)

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Market review for 15.01.14: The euro fell against the U.S. dollar under pressure data on the GDP of Germany.


Asian and European trading sessions:

Euro: The euro fell against the U.S. dollar under pressure data on the GDP of Germany. The Federal Statistical Office Destatis reported on Wednesday that German economic growth slowed in 2013 due to uncertainty stemming from the eurozone crisis. Germany 's gross domestic product adjusted for inflation increased by 0.4 % in 2013 after rising 0.7 % in the previous year, said Destatis.
"It seems that the crisis in the euro zone slowed the German economy," - said President Roderick Destatis Egger at a press conference, adding that domestic demand could not fully compensate for the slowdown.
The household consumption in the euro zone’s largest economy in 2013 increased by 0.9 %, while the government consumption rose by 1.1%. Export growth was 0.6 % in 2013, compared with 3.2 % in the previous year.Also, was published data on the trade balance of the eurozone. Eurozone exports fell for the first time in four months in November, showed on Wednesday data published Eurostat. Exports fell by a seasonally adjusted 0.2 % in the month dimension, followed by zero growth in October. At the same time, lowering the import deepened to 1.3 % of 1 %. While imports fell more than exports, the trade surplus rose to a seasonally adjusted up to 16 billion euros from 14.3 billion euros in October. On the basis of unadjusted trade surplus amounted to 17.1 billion euros, compared with a surplus of 16.8 billion euros in October. Expected surplus in November totaled 16.5 billion euros. The EUR / USD pair fell to $ 1.3601 during the European session.

U.S. Dollar: The U.S. dollar strengthened against the major currencies against the fact that the World Bank raised its forecast for global economic growth in 2014-2015. According to forecasts, this year, the world economy will grow by 3.2% compared to the June forecast growth of 3%. The Bank expects that in 2015 global growth to reach 3.4 % compared with 3.3% projected in June. Prediction for the richest countries was revised to 2.2% from 2%. In the U.S., growth will accelerate to 2.8 % this year, while Japan's GDP will be 1.4 %. This year, the eurozone economy is expected to increase to 1.1% compared with 0.9 % reported by the World Bank in June.

American trading session:

British Pound: The British pound rose against the U.S. dollar despite the data from the Conference Board. A leading indicator of the UK economy grew fifth consecutive month in November, suggesting that the economy will continue to expand in the coming months .The index of leading indicators rose 0.5 % on a monthly measurement to 108.3 in November after rising 0.4 % in October and 1.6 % in September. Index currently registered positive growth for the fifth month in a row.
At the same time, the coincident index, this measures the current situation in the economy, increased by 0.2 % sequentially to 105.7 in November. This followed growth of 0.1 % in October and 0.5 % increase in September. During the six months ended in November, the index of leading indicators recorded a growth of 4.5 %, while the coincident index remained unchanged.
"Widespread increased production and job growth, along with steady support from monetary policy will contribute to the restoration," said Conference Board Chief Economist Bart van Ark. The GBP / USD pair fell to $ 1.6370during the European session.



Gold: The gold traded down though and could recover some of the previously lost positions as strong U.S. data and optimistic outlook for global economic growth caused a rise in the dollar and stocks, which put pressure on the metal. The cost of February gold futures dropped to $ 1240.00 per ounce on the COMEX.

Oil: The oil prices have risen markedly today, after a government report showed that U.S. crude inventories fell last week to the lowest level in nearly 22 months. The February futures price of WTI rose to $ 94.50 per barrel.

Market review for 16.01.14: The Australian dollar fell after the publication of a negative report on employment in Australia.


Asian and European trading sessions:

Euro: The euro traded sideways against the U.S. dollar on the background of the final data on inflation in the euro area which was in line with the preliminary estimates. Annual inflation in the 17 countries of the euro zone declined in December, showing that the inflation was still below the European Central Bank's target level. The Eurostat on Thursday confirmed its preliminary assessment of the dynamics of prices in December, published last week. According to the report, the consumer price index (CPI) in December rose by 0.3 % compared to November and 0.8% compared to December 2012.The data indicated a weakening of annual inflation compared with November, when it stood at 0.9 %, and this figure was still below the target level, the ECB near 2.0%. The Eurostat also confirmed that the increase in core consumer price index (Core CPI), which excluded volatile food prices and energy prices, slowed to 0.7 %, showing the lowest growth since the beginning of such statistics in 2001.
Today was also published a monthly report by the ECB. In its January newsletter Governing Council of the ECB had to maintain rates at current or lower level for a long period of time. Authorities said that accommodative monetary policy rate will be maintained long as it needed. The EUR / USD traded in the range of $ 1.3593 - $ 1.3629 during the European session.

U.S. Dollar
: The dollar index close to four-month high, as investors believe that the U.S. economy is strong enough to survive without loss possible reduction incentives Fed. The economic activity in all regions of the U.S. grew in December, “moderate " pace due to an increase in consumer spending in the festive season , the improvement in the labor market and recovery of industrial production , released on Wednesday showed a regional overview of the Fed.

Australian dollar: The Australian dollar fell to its lowest level since August 2010 against the U.S. dollar after the publication of a negative report on employment in Australia. According to the National Bureau of Statistics, the number of jobs in the country in December fell by 22.6 thousand, while economists had expected growth of 10 thousand for the year Australia's economy lost 67.5 thousand jobs, which was the worst figure since 1992.

American trading session:

British Pound:
The pound fell slightly against the U.S. dollar , as data showed that expectations regarding the future growth of British housing prices have increased again last month, which was due to the lack of new homes on the market . It became known from the last survey, which was published today by the Royal Institution of Chartered Surveyors (RICS). The RICS experts said that 61 % of respondents predict that home prices will rise over the next three months, compared with 59 % in November. We add that the last result was the highest since September 1999. The survey also showed house prices rose in every region of Great Britain in the last month. Nevertheless, the main house price balance fell to 56 % in December from 58% in November. Many experts predicted that the value of this index will rise to the level of 59%. It is worth noting that it was the first decline in the index over the past four months. The economists also said that the UK housing market was underpinned by falling unemployment, low interest rates and government programs to make mortgages cheaper and easier to obtain. The GBP / USD pair fell to $ 1.6310 during the European session.

Gold: The gold prices raised slightly after a government report that inflation in the U.S. rose, increasing the appeal of the precious metal as a hedge against inflation. The cost of the February gold futures rose to $ 1241.90 per ounce on the COMEX.

Oil: The oil prices were mixed, though with a slight modification. On the dynamics of trade were affected expectations of increasing supplies from the Middle East and North Africa, which outweighed the news about a noticeable drop in U.S. oil inventories. The cost February futures on U.S. light crude oil WTI dropped to $ 93.90 per barrel.
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Market review for 20.01.14: The euro traded under the background data on producer prices in Germany.


Asian and European trading sessions:

Euro: The moderate growth rate of the euro against the U.S. dollar was seen on the background data on producer prices in Germany. Recent data from the Statistical Office Destatis showed that producer prices in Germany fell again last month, while fixing the fifth consecutive monthly decline.
According to the report, producer prices fell in December by 0.5 % compared to the same period last year. Recall also that in the month of November, prices have fallen more significantly, namely by 0.8 %. Also, according to the average forecast of experts for this indicator was down by 0.6 % per annum. The cost of energy and intermediate goods decreased by 1.8 % and 1.1 %, respectively. Meanwhile, the consumer prices rose by 1.5 %, while prices for durable goods rose 1.1 %. Capital goods prices rose by 0.7 %.
In Statistical Bureau also reported that in a monthly basis, producer prices rose in December by 0.1 %, fully offsetting a decline of 0.1 %, which was recorded in the month of November. In addition, the data showed that in 2013, the producer price index for industrial products fell slightly - by 0.1 % per annum. Recall that the results of 2012, the index rose by 1.6 %. The EUR / USD pair rose to $ 1.3568 during the European session.

Japanese Yen: The yen rose against most major currencies following the collapse of the Asian stock markets on data about the weakening economic growth in China, increasing its attractiveness as a safe-haven currency. The USD / JPY pair rose to Y104.26 during the European session. However, later the pair fell sharply, continuing its decline after a significant correction.

American trading session:


Gold:
The gold peaked at nearly six weeks amid signs of increasing demand, as the volume of positions in the largest gold exchange-traded funds has grown most rapidly since 2011. The cost of February gold futures rose to $ 1263.00 per ounce on the COMEX today.

Oil:
The world oil prices down on Monday amid conflicting economic data from China, as well as news on the progress made in resolving the Iranian issue. The February futures price of WTI fell to $ 93.45 a barrel on the NYMEX.



Market review for 21.01.14: The dollar fell on fact that the IMF raised its forecast for U.S. GDP growth.


Asian and European trading sessions:

Euro: The euro exchange rate fell moderately against the dollar, which was associated with the release of weak data on Germany. The results of recent studies, which were presented by institute ZEW, showed that German economic expectations fell in January, contrary to forecasts for growth. But, despite the recession, mood is still elevated. According the report, the sentiment index fell in the business environment in the current month to the level of 61.7 points compared to 62.0 points in December. It is worth noting that many economists predicted that this figure will rise to the level of 63.4 points. Nevertheless, we add that the index remained well above long-term average at 24.4 points. The data showed that 254 analysts and institutional investors were optimistic about the current economic conditions. We add that the ZEW indicator on current conditions rose in January to a level of 41.2 points, compared to 32.4 points in December. We also learned that the economic expectations for the euro zone rose in January. The corresponding figure improved by 5.0 points to 73.3 points. Indicator of the current economic situation in the euro area rose by 6.2 points to minus 48.2 points level. The EUR / USD pair fell to $ 1.3510, and then recovered slightly during the European session.

British Pound: The pound was able to recover from the lows against the dollar, reaching levels at this opening session. Noticeable influence on the bidding had data that were presented today by the Confederation of British Industry. They showed that the balance of industrial orders fell sharply in January, but the index that assesses the prospects for the next three months was at the highest level over the past two years. According to the report, the January balance of industry orders dropped to -2 points, compared with 12 points last month. Many experts expected that this figure is only slightly worse, but it was up to 11 points. In addition, it was reported that the balance of demands for the next three months rose to 22 points from 14 points, and reached the highest level since April 2012. We also add that new orders in the three months to January, showed the largest increase in nearly three years. The data also showed that the quarterly balance of prospects for the companies declined to 21 in the three months to January 24 in the three months to October (the highest since April 2010). Recall that the British manufacturing sector is gradually recovering from the financial crisis, but remained below its peak in 2008, underscoring the problem re- rebalancing the economy to reduce dependence on domestic consumption. The GBP / USD pair fell to $ 1.6400 level.

American trading session:

U.S. Dollar: The dollar fell after the fact that the IMF raised its forecast for U.S. GDP growth this year by 0.2 percentage points to 2.8%, although it has lowered the forecast for 2015 by 0.4 percentage points to 3%. This was due to the ongoing battles in Congress over federal spending and balance.

Gold:
The gold prices fell to a six-week peak against the background of recovery in stock markets and the possibility of weakening demand in the physical market. The cost February gold futures dropped to $ 1235.10 per ounce on the COMEX today.

Oil: The oil prices rose after the announcement of an improved outlook for the growth rate of world consumption, which was granted by the International Energy Agency. The February futures price of WTI rose to $ 95.20 per barrel on the NYMEX.

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Market review for 22.01.14: The Pound rose today on positive unemployment rate data.


Asian and European trading sessions:

British Pound: The Pound rose sharply against the U.S. dollar , which was helped data that showed that the unemployment rate fell to its lowest level in nearly five years , while approaching to the 7 % threshold at which the Bank of England officials may begin to reconsider the amount of the asset purchase program . According to the report, the unemployment rate, as measured by the standards of the International Labour Organization, fell to 7.1 % in the three months to November, compared with 7.4 %, which were recorded in the previous three-month period (October). Meanwhile, the report showed that the number of unemployed fell by 167,000 to 2.32 million in the three months to November compared with the previous three-month period. It was the biggest decline since October 1997 and the second largest since records began in 1971. The GBP / USD pair rose to $ 1.6565 during the European session.

Japanese Yen
: The yen fell against most major currencies amid rising Japanese stock market after the Central Bank refrained from expanding the program of monetary stimulus. The Bank of Japan left unchanged targets expansion of the monetary base in the range of 60 trillion yen to 70 trillion yen ($ 671 billion) a year and confirmed forecast that core inflation in 2015 fiscal year, which begins in April, will be at 1.9 %. The USD / JPY pair rose to Y104.72 from Y103.98 during the European session.

American trading session:


Canadian dollar:
The Canadian dollar fell after the Bank of Canada left interest rates unchanged and said to increase the economic growth projections. The Canada's central bank left its benchmark interest rate unchanged, at 1%, stating that the importance of the downside risks to inflation has been increased. However, it raised its forecasts for GDP growth, expecting increased demand from the U.S. and a lower Canadian dollar’s rate will boost exports.

Gold:
The gold prices traded in a narrow range with a moderate decrease, while investors expect the Fed to further reduce the incentives and evaluate improved forecasts for global economic growth. The cost of the February gold futures traded in the range of $ 1237.50 - $ 1243.60 per ounce on the COMEX today.

Oil:
The world oil prices show a positive trend amid expectations reduction in U.S. distillate stocks. March futures price of WTI rose to $ 96.55 per barrel on the New York Mercantile Exchange (NYMEX).


Market review for 23.01.14: The Euro rose substantially on positive data of the business activity in the euro area private sector.


Asian and European trading sessions:

Euro
: The euro exchange rate rose substantially against the U.S. dollar on data for the business activity in the euro area private sector, which increased significantly in January, having shown the highest growth in the last 31 months. This was stated in the study results, which were issued by Markit Economics. The data showed that the composite PMI, which assesses the effectiveness of the manufacturing sector and the services sector rose to 53.2 in January from 52.1 in December, reaching its highest level since June 2011. Pleased also another report which showed that the current account surplus of the euro zone rose unexpectedly in November, registering with the second monthly increase in a row, which primarily was due to a significant increase in exports. According to the report, the current account surplus rose to a seasonally adjusted level of 23.5 billion euros in November, compared with 22.2 billion euros in October. The EUR / USD pair rose to $ 1.3647 during the European session.

British Pound: The pound continued its yesterday's gains against the U.S. dollar, while setting a new yearly high. Increased risk appetite supporting sterling today. Positive so far for a pound a week contributed to the continuation of its strengthening levels above $ 1.6600, where the couple was not since August 2011. A recent report to the Bank of England combined with data on employment contributed to the development of the current bullish bias. The GBP / USD pair rose to $ 1.6615 during the European session.

Swiss Frank
: The Swiss franc has risen sharply against the U.S. dollar against the backdrop of the Swiss National Bank raised its capital buffer requirements for banks , they should have to mortgage lending. Note that the SNB is supported by the Government now requires mortgage lenders have to have a 2% higher weighted assets in relation to mortgage risk to maintain their lending , against 1% , introduced in February 2013 . New rules on capital reserves associated with a mortgage come into force on June 30 this year.

American trading session:

U.S. Dollar
: The U.S. dollar weakened across the board after the published statistics. Manufacturing activity in the U.S. this month weakened. This was evidenced by the preliminary report of Market, presented on Thursday. Nevertheless, one of the factors weakening activity can be extremely cold weather. Preliminary Purchasing Managers Index (PMI) for the manufacturing the United States in January fell to 53.7 from December's final value of 55.0. In Market reported that the January preliminary value that is based on approximately 85 % of the normal monthly number of responses, “signaled the slowest in three months improving the business environment." Another report showed that the index of economic activity for the region of Chicago gave markedly smaller increase in December, as the sub- indices related to employment and production figures have decreased compared to the previous month. With regard to labor market data, the number of applications for unemployment benefits rose slightly last week, although the overall level indicates a marked improvement in the labor market. According to the report, the seasonally adjusted number of initial claims for unemployment benefits rose for the week ending January 18, 1000, reaching a level with 326 thousand.

Gold: The gold prices rebounded from two-week low after reporting a slowdown in manufacturing activity in China and on the eve of the Fed meeting, at which the central bank may continue to reduce incentives. The cost of February gold futures rose to $ 1267.50 per ounce on the COMEX today.

Oil:
The cost of March futures of WTI oil brand rose to $ 97.80, to three-week high after a government report showed that U.S. inventories of distillates fell as demand rose.

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Market review for 27.01.14: The yen trading dynamics were affected by the sales of assets in the stock markets in Asia and developing countries.


Asian and European trading sessions:

Euro: The euro fell to its maximum value against the dollar, while back below the levels of the session. Early growth of the euro was fluff associated with the release of strong data from the institute Ifo, according to which the business climate index in January rose to 110.6 from 109.5 values unrevised December, reaching its highest level since July 2011 and exceeded economists' forecast. In turn, the index of current conditions rose to 112.4 compared to 111.6 in December. The figure was slightly higher than expected 112.2. The expectations index also improved more than expected to 108.9 from 107.4. The expected result was 108. The EUR/USD pair rose to $ 1.3718, but then fell to $ 1.3655 during the European session.

Japanese Yen
: The yen touched a seven-week high against the dollar on sales of assets in the stock markets in Asia and developing countries, leading to increased demand for safe-haven currency. The yen lost previously won positions after the release of data on the trade balance of the country. Japan's trade deficit reached a historic high. The deficit amounted to 11.5 trillion Yen ($ 113 billion), which is almost two times more than last year's figure 6.9 trillion Yen, according to the Finance Ministry in Tokyo. In December, imports increased by 25% compared with a year earlier, and exports gained 15%, resulting in a monthly deficit of $ 1.3 trillion Yen. The reasons for this were the growth of energy supplies and the weakness of the Yen. The USD / JPY pair rose to Y102.65 during the European session.

American trading session:

British Pound: The pound has risen considerably against the U.S. dollar, offsetting more than half the losses incurred in the last session. Add that traders continue to actively speculate that the Bank of England may be the first of the leading CB who will raise the interest rate. In addition, for the growth of currency helped expectations of tomorrow's publication of GDP data for the fourth quarter. Recall that in the third quarter of the UK economy grew at an annualized rate of 1.9 percent, while fixing the third consecutive quarterly increase and rising hopes that the UK economy has moved to let the recovery. It is expected that the GDP data for the fourth quarter show that the UK economy has continued to expand. Experts note that even if the pace of growth will be slightly slower, it probably will not affect the monetary policy of the Bank of England. The GBP / USD pair rose to $ 1.6575 during the European session.

U.S. Dollar: The dollar traded slightly higher, though lost some previously won positions. The growth of the U.S. dollar was due to the expectations that the Federal Reserve will continue to minimize the quantitative easing program at the January meeting. More and more people are inclined to believe that the Fed will simply continue to reduce QE. In general, the economic recovery is strong enough, despite the recent negative statistical data from the United States. According to the median forecast of economists at the next meeting of the FOMC, which will be held January 28-29, the Central Bank again reduce monthly asset purchases to $ 10 billion. The pressure on the currency had a report, which showed that sales of newly built homes fell by 7% to a seasonally adjusted annual rate of 414,000 in December from 445,000 in November. Result November was revised down to 19,000. Economists had forecast an annual rate of new home sales at 457,000 in December, although many of them noted that the unusually cold and windy weather may have contributed to the sales activity. New home sales in December were the weakest since the summer months, when mortgage rates jumped in response to reports that the Federal Reserve plans to reduce its bond-buying program.

Gold
: The gold prices fell markedly today, departing from the 10 - week highs as traders began to gradually fix their positions ahead of a key meeting of the Federal Reserve this week. The cost February gold futures dropped to $ 1260.70 per ounce on the COMEX today.

Oil:
The oil prices declined moderately today, recording the second -session decline in a row, which was associated with the release of weak data on the U.S. housing market. With this in mind, experts have begun to show concern that demand for fuel in the U.S. - the world's largest consumer - may slow. The March futures price of WTI fell to $ 95.89 a barrel on NYMEX.

Market review for 28.01.14: The euro fell against the background data on import prices in Germany.


Asian and European trading sessions:


Euro:
The euro exchange rate against the U.S. dollar fell against the background data on import prices in Germany. As it was shown by the data published by the Federal Statistical Office, import prices in Germany fell twelfth consecutive month in December, but in a lesser degree than in the previous month. The import price index fell by 2.3 % in December compared with the corresponding month in 2012. This followed a 2.9 % drop in November. Prices are already falling regularly since December 2012. Economists had forecast a slower decline by 2.2 % in December 2013. Index was influenced by a 5 % fall in energy prices as well as falling to 15.5 per cent in the cost of non-ferrous metals. Prices for the products of iron, steel and alloys were 5.4 % lower than a year earlier.
On a monthly basis, import prices were unchanged in December, after an increase in November to 0.1 %. Expectations were level rise by 0.2 %. Overall, in 2013 the import price index fell by 2.6 per cent per annum, after rising 2.2 % in 2012. The decrease was due mainly to a fall 7 % in energy prices.
Department of Statistics also reported that in Germany, export prices decreased at a slower annual rate of 1 % in December compared with a decline of 1.1 % in the previous month. On a monthly measurement of export prices fell by 0.1 %, after being unchanged in November.
At the beginning of the session, some support for the single currency was data on consumer confidence in France. The consumer confidence index rose to 86 in January from 85 in December and 84 in November. Economists had forecast the index to remain unchanged at December. Estimation by consumers of their past financial situation was essentially unchanged in January compared with the previous month. Meanwhile, their expectations of personal finances in the coming months were more optimistic, corresponding sub-indicator rose to -18 from -20 in December.
The survey showed that the number of households that said in January the best time to make major purchases and savings increased. Similarly, their expectations about future ability to save were more optimistic. Measure attitudes households past state of the French economy grew by 2 points to -71 in January. At the same time, their expectations for the future state of the economy showed further improvement. Prospects indicator rose to -45 from -49. The EUR / USD pair rose to $ 1.3690, but then fell to $ 1.3625 during the European session.

British Pound: British pound reacted negatively to the preliminary data on GDP. Economic growth in the UK fell in the last quarter of 2013, and it was a slight slowdown can strengthen the authorities' determination to continue to promote, to support further growth. British National Bureau of Statistics (ONS) said on Tuesday that the gross domestic product in the 4th quarter increased by 0.7 % compared to the 3rd quarter, after rising 0.8% in the previous two quarters.
Compared with the same period of the previous year, the GDP grew by 2.8%. Downturn in the construction industry in November was a major factor slowing, reported ONS, which estimates that production decline in the sector for the quarter was 0.3 %. In other sectors, there was an increase. The GBP / USD pair rose to $ 1.6623, but then fell to $ 1.6535 during the European session.

Japanese Yen
: The yen fell to a decline in demand for safe-haven currencies. The reason was an emergency meeting of the committee on monetary policy of the National Bank of Turkey, dedicated to a sharp drop in the national currency - the Turkish lira against the dollar and euro. Currently, market participants insist that the Central Bank of Turkey to set it raised the interest rate. The USD / JPY pair rose to Y103.26 during the European session.

American trading session:


U.S. Dollar
: The dollar traded higher against the euro which was influenced by the data on orders for durable goods as well as consumer confidence, which helped regain some positions. As it became known, new orders for durable goods fell 4.3% in December from November to $ 229.3 billion these are the data of the Ministry of Trade. This second drop in three months, and was marked the steepest decline since July. The decrease was due to a decline in demand for civilian aircraft, which is a volatile category. But even excluding the transportation sector, orders for durable goods fell by 1.6 %, showing the biggest drop since March. Economists had forecast an increase of 2 % of orders for durable goods in December. The data indicated that consumers and businesses are still spending cautiously, despite signs that the U.S. economy is gaining strength in recent months of 2013. Another report showed that consumer confidence index from the Conference Board, which rebounded in December, increased again in January. The index is currently 80.7 compared to 77.5 in December. The current conditions index rose to 79.1 from 75.3. The expectations index rose to 81.8 from 79.0 last month.

Canadian dollar
: The Canadian dollar declined significantly against the U.S. dollar, reaching at this 4.5 -year low on expectations of further Fed folding and further commitment of the Bank of Canada's policy weak currency. The Fed today begins 2 -day meeting. It expected to further minimize the quantitative easing program. Despite the weakness of the labor market, according to the consensus forecast is expected that the Central Bank will refrain from sharp folding, cutting 75 -billion program gradually, until the end of this year.

Gold:
The gold prices declined moderately today, after weak U.S. data on orders for durable goods decreased optimism regarding the strength of the economy, reducing expectations for a further reduction in stimulus from the Fed. Cost February gold futures on the COMEX today dropped to $ 1253.50 per ounce.

Oil:
The crude oil futures rose on Tuesday as traders are awaiting the start of a two-day meeting of the Federal Reserve System, the outcome of which will depend on the future dynamics of oil prices. March futures price for U.S. light crude oil WTI rose to $ 97.47 per barrel on the New York Mercantile Exchange (NYMEX).

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Market review for 29.01.14: The U.S dollar got some support after the Fed's decision to lower the amount of QE.


Asian and European trading sessions:

Euro:
The euro fell against the U.S. dollar, amid reducing lending to the private sector in the euro area. According to the European Central Bank lending to the private sector in the euro zone fell in December compared with the same period of the previous year as well significantly, as in the previous month. According to published data, in December, as well as in November, lending to the private sector decreased by 2.3%.
Last spring, the housekeeper eurozone emerged from a protracted recession, which was particularly severe in Southern Europe, where the cost of credit for small businesses is much higher than in other regions of the eurozone. Nevertheless, the economic recovery remains slow and insufficient to curb unemployment, which is held at record high levels. According to economists, the economic recovery may not be sustainable if the banks start to lend more actively firms and households.
The report also showed that the M3 broad money supply grew by only 1 % in December, after expanding by 1.5 % in November. Economists had expected the index to rise 1.7 %. During the period from October to December M3 money supply grew by 1.3 % compared with the same period last year. Such growth rates are far below the “reference value “of the ECB 4.5 %, which, according to the central bank, consistent with the mandate of price stability.
Earlier, the euro rose, supported by data on the index of consumer confidence in Germany. German consumer confidence index improved for the fifth month in a row in February amid recovery of the growth momentum in the country. These are the results of a survey conducted by a group GfK. Expected consumer confidence index rose to confidently 8.2 points from a revised 7.7 points in January. The latter figure is the highest level since August 2007. Economists had expected the index to rise only to 7.8.
Income expectations index rose to a 13- year high of 46.2 points in January from 39.5 in December. Measure of economic expectations jumped to 35.3 from 23.3. The result is the highest since July 2011. Readiness Index to purchase rose to 50 from 46.1, noting the highest level since the end of 2006. The EUR / USD pair rose to $ 1.3685, but then fell to $ 1.3619 during the European session.

British Pound
: The British pound rose against the dollar earlier after the release of U.S. data on the growth in housing prices. In the UK house prices rose at the fastest pace in more than three and a half years in January, supported by strong growth in employment, record low mortgage interest rates and increasing confidence. Such a survey conducted nationwide housing society. The housing price index rose by 8.8 % per annum in January, marking the fastest increase since May 2010, when prices rose by 9.8 %. Prices were by about 4% below the peak in 2007. Economists had expected prices to rise in January by 8.1 % . In December, the index recorded an increase of 8.4%. Housing prices rose a seasonally adjusted 0.7 % compared to December, when they rose 1.4 %. Expectations were at a gain of 0.7 %. The average house price in the UK has now reached 176,491 pounds, which is more than 175,826 pounds, registered in December. GBP / USD: during the European session, the pair rose to $ 1.6608, but then fell to $ 1.6542

The Yen and the Swiss franc fell against major currencies after the Turkish central bank took steps to stop the further devaluation of the lira, which reduced demand for safe-haven currencies.

American trading session:

U.S. Dollar: The dollar got some support after the Fed's decision to lower the amount of QE. The Fed reduced the amount of asset purchases by $ 10 billion - to $ 65 billion and kept the interest rates, at 0.25 % with 0.25 % forecast.

Gold: The gold prices raised significantly today, the price of February gold futures on the COMEX today rose to $ 1264.90 per ounce.

Oil
: The prices for WTI crude oil declined moderately, after a government report showed that U.S. crude inventories rose more than expected last week. The March WTI futures price fell to $ 97.10 a barrel on the New York Mercantile Exchange (NYMEX).

Market review for 30.01.14: The Euro fell against the U.S. dollar despite the strong data on the labor market in Germany sentiment in the eurozone economy.


Asian and European trading sessions:

Euro: Euro fell against the U.S. dollar despite the strong data on the labor market in Germany sentiment in the eurozone economy. German unemployment fell in January, more than forecast, as companies were more confident in the strength of Europe's largest economy. Number of people out of work fell by a seasonally adjusted 28,000 to 2.93 million, after falling by 19,000 in December, reported the Federal Labour Agency. Economists had forecast a drop of 5000. Adjusted unemployment rate was 6.8 %, almost unchanged from December, and remained near the minimum of twenty years. Unemployment fell by 16,000 in West Germany and 12,000 in the eastern part.
In turn, in the euro area level of economic confidence rose ninth consecutive month in January, data showed on Thursday a survey from the European Commission.
Economic sentiment index rose to 100.9 in January from 100.4 in the previous month. But at the same time the reading was slightly lower than expected level of 101.Confidence in industry fell unexpectedly by 0.5 to -3.9 in January, as a consequence of the management worsened assessment of stocks of finished products. The result was predicted to improve to -3.0. Confidence in the services sector grew by 1.9 points to 2.3, resulting in improved estimates of expected demand and past business situation, while the assessment of the past demand has not changed much. In addition, consumer confidence has improved markedly to 11.7, being in accordance with a preliminary estimate, compared with 13.5 in December. The increase was primarily due to improved expectations about future unemployment and the general economic situation. The result was above its long-term average for the first time since July 2011. Confidence in the retail sector increased to -3.4 -5, due to improvements in all of its three components, namely the present and expected business situation and the assessment of stocks.
Meanwhile, confidence in the construction sector fell strongly to -30.1 from -26.4 as a result of a marked deterioration in ratings portfolio managers’ orders and deteriorating employment expectations. In January, the business climate indicator for the euro area almost unchanged at 0.19 compared to 0.20 in December. Economists had expected the result 0.34. Production expectations leaders, their assessment of past production, and general and export order book remained broadly unchanged. At the same time, the level of stocks of finished products was evaluated more negatively. The EUR / USD pair fell to $ 1.358 5 during the European session.

British Pound: The British pound fell against the dollar after the number of approved applications for mortgage loans in the UK in December rose less than forecast, but this figure was the highest in the last six years. These are the data published by the Bank of England on Thursday.
The number of permits for house purchase rose to 71,638 in December from a revised 70,820 in November. Economists had expected the figure to rise to 72,500 by November initial 70,758.
The latter figure is the highest since January 2008, when the number of mortgage approvals was 71,999.
Loans secured by housing increased by 1.7 billion pounds, while economists expected an increase of 1.2 billion pounds. Consumer loans increased by 0.6 billion pounds, while economists had expected growth to 0.7 billion pounds. The GBP / USD pair fell to $ 1.6440 during the European session.

American trading session:

US. Dollar: Dollar got support with regard to U.S. data , was showed that the gross domestic product , which is the broadest measure of goods and services produced in the economy , rose to a seasonally adjusted annual rate of 3.2% in the fourth quarter . Economists had expected in the fourth quarter activity will grow by 3.2%. Overall, in 2013 the economy grew by 1.9%. The last time the economy grew by more than 3 % per annum before the recession, when it reached 3.4% in 2005. In 2012, GDP grew by 2.8%. Recent GDP data show that the economy expanded by 3.7 % in the second half of 2013. This rate was much higher than the growth of 1.8% in the first half of this year. This is the highest growth rate in the second half of 2003, when the economy expanded by 5.8%.

Gold:
The gold prices fell by about 1 %, which was associated with a significant appreciation of the U.S. currency after the U.S. Federal Reserve lowered the volume again its monetary stimulus. The cost of the February gold futures dropped to $ 1242.10 per ounce on the COMEX today.

Oil:
The oil prices rose today, which was a month high as strong frosts in the United States contributed to the growth in demand for oil. The March futures price for U.S. light crude oil, WTI rose to $ 98.45 per barrel on the New York Mercantile Exchange.

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Market review for 03.02.14: The U.S. dollar fell after weak U.S. data on manufacturing activity in the United States.


Asian and European trading sessions:

Euro: The euro was traded slightly higher against its competitors. Positive data for the euro area had considerable support Eurocurrency, but even they were not enough to hold near session highs. As it became known, the manufacturing sector grew in the eurozone last month a little more than originally expected. This was stated in the data that were presented today Markit Economics. According to the report, the final purchasing managers index, which assesses activity in the manufacturing sector rose to 54 points in January, compared with the initial assessment at the level of 53.9 points, and the final reading for December at 52.7 points. The last value was the highest since May 2011. Manufacturing PMI increased in each of the last four months and demonstrates an extension to July last year. The EUR / USD pair rose to $ 1.3520, and then dropped to $ 1.3498 during the European session.

British Pound: The pound declined significantly against the dollar, which was caused by the publication of weak data on Britain. Recent research results that were announced earlier today by Markit Economics and Chartered Institute, showed that UK manufacturing index fell slightly last month , beating forecasts while most experts . Nevertheless, despite the recession, the manufacturing sector continued to expand in January, reflecting the improvement in output and new orders growth. According to the report, the seasonally adjusted purchasing managers' index for the manufacturing sector fell last month to a level of 56.7 points, compared with a revised figure for December at the level of 57.2 points in December. Economists expected the index to decline to 57.1 from 57.3 points in December, which was originally reported. Although PMI is now and is at its lowest level in the last three months, it is still significantly higher than the average - at the level of 51.3 points. The GBP / USD pair fell to $ 1.6325 during the European session.

American trading session:

U.S. Dollar: The dollar fell after weak U.S. data on manufacturing activity in the United States. The index of business activity in the U.S. industry from Markit in January, according to final data, fell to 53.7, below the 11 -month high of 55.0 in December. January's value was the lowest since October, but the index remained above the level of 50.0, which is neutral. These points supported continued improvement of business conditions. In turn, data from the Institute for Supply Management (ISM), published on Monday, suggests that manufacturing activity in the U.S. in January has stalled due to lower inventories. According to the report, the Purchasing Managers Index (PMI) for the manufacturing the United States in January fell to 51.3 from 56.5 in December. Index value above 50 indicates growth in the sector of activity. The economists had expected the index in January at 56.2 .

Gold:
The price of gold grew on a weaker dollar after weak data on manufacturing activity in the United States. The cost of the April gold futures on the COMEX today rose to $ 1264.90 per ounce.

Oil
: World oil prices were falling at the time, as the data indicated a slowdown in manufacturing activity in China and the U.S., which could lead to a drop in demand for fuel in the world's largest oil-consuming countries. March futures price for U.S. light crude oil WTI fell to $ 96.38 a barrel on the New York Mercantile Exchange (NYMEX).

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Market review for 05.02.14: The British pound fell sharply against the U.S. dollar on release of unexpectedly weak data on Britain.

Asian and European trading sessions:

Euro: The euro traded in a narrow range against the U.S. dollar, as many participants gradually shift its attention to tomorrow's ECB meeting. Little impact on the European currency had data for the euro area, which showed that the euro zone's private sector waked up in January, while reaching the highest levels in the last two and a half growth, rapid growth of production eclipsed the more modest expansion in the services sector.
According to the report, the final composite purchasing managers’ index from Markit, which measures business activity in the manufacturing sector and in the service sector, rose to 52.9 in January from 52.1 in the previous month. It was the highest result since June 2011. Nevertheless, the final assessment was at - 53.2. In Markit said that growth in the eurozone PMI observed broad-based and led was lifting by Germany. The data also showed that the index of business activity in the services sector rose to a four-month high in January - to the level of 51.6 from 51.9. However, this result was below the pre-assessment at the level of 51.9. The EUR / USD pair traded in the range of $ 1.3500 -$ 1.3529 during the European session.

British Pound:
The British pound fell sharply against the U.S. dollar, which was associated with the release of unexpectedly weak data on Britain. As it became known, the growth in the services sector in Britain, which is dominant, unexpectedly slowed last month, but activity remained high, suggesting that the economy will gain momentum in the first quarter of 2014. The survey also showed growth companies price pressure for the service sector, but not to a level that could be a problem for the Bank of England, and encourage it to raise interest rates. According to the report, the index of services PMI fell to 58.3 in January from 58.8 points in December, reaching its lowest level since June. Add that according to the average forecasts of experts, the value of this index would grow to 59.1 points. However, despite the decline, the index remained well above 50 points, which separates growth from contraction.
Meanwhile, it became known that the composite indicator of the three indices PMI (manufacturing, construction and services sector) fell to 59.1 in January from 59.4 in December, dropping to its lowest level since June. The GBP / USD pair fell to $ 1.6263 during the European session.

American trading session:

U.S. Dollar: The dollar fell amid mixed statistics. In the U.S. went out report that the activity in the U.S. non-manufacturing sector continued to grow in January. This was evidenced by data released Wednesday by the Institute for Supply Management (ISM). Purchasing Managers Index (PMI) for the non-productive sphere the U.S. in January rose to 54.0 against 53.0 in December. Economists had expected the index to rise last month to 53.8. Values above 50 indicated growth in activity. As it was shown by recent data that were presented Automatic Data Processing (ADP), in January, private sector employment increased markedly, although not enough to confirm the evaluation of many economists. According to a report last month, the number of employed increased by 175,000 people, compared with a revised downward indicator for the previous month at 227 million (initially reported growth of 238 thousand jobs). Add that, according to the average forecast of this indicator would grow by 191000.

Gold: The price of gold rose to one-week high after the release of the employment report from ADP. The cost of the April gold futures rose to $ 1274.70 per ounce on the COMEX today.

Oil: The oil price declined after a government report showed an increase in U.S. oil inventories. The March futures price for U.S. light crude oil WTI fell to $ 97.00 a barrel on the NYMEX.



The Australian dollar raised almost two figures against the U.S. dollar, which was associated with the decision of the RBA rates.

Asian and European trading sessions:

Euro: The euro returned some of the previously lost ground against the dollar, but, despite this, still trading slightly lower. Little impact on the dynamics of trade had the PPI report. It is learned that producer prices rose in December, registering with the first increase in the last three months, which was slightly eased fears about the fragility of recovery in Europe. It became known from the report, which was introduced earlier EU statistical agency. According to the data, in December producer prices rose by 0.2% compared with the previous month, but, nevertheless, were 0.8% lower than in December 2012. Recall that prices fell in October and November - by 0.5% and 0.1%, respectively. Data released last week by Eurostat showed that consumer prices rose 0.7 % in January, compared with an increase of 0.8 % in December, reinforcing fears that a prolonged period of low inflation will be difficult for the eurozone to address its economic imbalances and reduce the large debt. Therefore, the growth of producer prices will be welcomed by politicians of the European Central Bank. The EUR / USD pair rose to $ 1.35340 during the European session.

British Pound: The pound has risen considerably against the U.S. dollar , which helped the publication of positive report on Britain. Recent data from Markit / CIPS showed that activity in January in the UK construction sector has grown substantially, continuing its promotion of the territory expansion, and reaching its highest level since the financial crisis. According to the report, with the seasonally adjusted index of business activity in the construction sector grew in January to a level of 64.6 points compared to 62.1 points in December. The index remains above the neutral mark of 50.0 points, which separates expansion from contraction, for the ninth consecutive month. Also, note that the latter value was the highest since August 2007. According to experts, this indicator should be reduced to the level of 61.6 points. The GBP / USD pair rose to $ 1.6345 during the European session.

American trading session:

Australian dollar: The Australian dollar raised almost two figures against the U.S. dollar, which was associated with the decision of the RBA rates. The Reserve Bank of Australia today decided to keep its benchmark interest rate at a record low - 2.5 %, and noted that a period of stability in interest rates may be "the most sensible course” at the moment. Monetary policy bank “appropriately configured to ensure sustainable growth in demand and inflation in accordance with the purpose," said the head of Glenn Stevens said in a statement today. “Based on current evidence, the most prudent course would be a period of stability in interest rates," he added. The Board of Directors expects that inflation will be slightly higher than stated in the forecasts three months ago, but will be in line with the target of 2-3% over the next two years. Higher inflation, currency devaluation and rising house prices may be causing the Reserve Bank decision to refrain from further easing of monetary policy. Recall that the RBA will cut interest rates by 225 basis points since November 2011 to help the economy to support demand in areas outside the resources sector, taking into account the damping mining boom.

Gold: The price of gold declined after a sharp rise the previous day. The pressure on the stock of the precious metal has a strengthening of the U.S. currency. The cost of the April gold futures dropped to $ 1246.70 per ounce on the COMEX today.

Oil
: The cost of oil brand West Texas Intermediate raised for the first time in three days on speculation that distillate stocks fell last week due to cold weather and on rising U.S. stocks. The March futures price for U.S. light crude oil WTI rose to $ 97.76 per barrel on the NYMEX.

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Market review for 06.02.14: The rate of the euro fell sharply against the U.S. dollar immediately after the announcement of the ECB rate decision.


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.

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Market review for 10.02.14: The dollar index suspended after its five-day decline.

Asian and European trading sessions:

Euro: The study of confidence of European investors Sentix revealed on its Monday monthly survey research that investor confidence in the euro zone unexpectedly improved in February. The investor sentiment index rose by 1.4 points to 13.3 points. The result was higher than the projected decline to 10.3 points. The improvement was mainly due to the increase in assessment of the current situation in February. Current situation index rose to 1.8 from 0.8 in January and was positive for the first time since August 2011. At the same time, investors' expectations have risen only slightly in February to 25.5 from 25.3 in January.
The euro kept data on industrial production in France. Industrial production in France increased at a slower pace in December, with growth rates gave way to the forecasts of economists showed on Monday, the latest data statistical office Insee. Industrial production grew by 0.5 % in December compared with the same month last year. Economists had expected a more rapid increase of 1 %. In November, production recorded a growth of 1.7 %.

Industrial production fell by 0.3 % compared to November, when it was recorded an increase of 1.2 %. Expectations were reducing by 0.1 %. During the three months ended in December, production increased by 0.3 % compared with the previous three-month period. Industrial production grew by 0.5 % in quarterly terms.

In Insee also noted that production in the French manufacturing sector expanded by 0.9 % year on year in December. On a monthly measurement of industrial production remained unchanged after rising 0.2 % in November. The EUR / USD pair rose to $ 1.3650 during the European session.
U.S. Dollar: The dollar index suspended its five-day decline, even after January in the U.S. was created only 113 thousand jobs, and the unemployment rate fell to 6.6 % compared to 6.7% in December, said Friday the Ministry of Labour. The economists had expected an increase of the number of non-agricultural jobs in the 185 thousand unemployment fell to its lowest level since October 2008.

American trading session:

Swiss franc: The Swiss franc rose against the U.S. dollar on the background of the earlier report, which showed that the unemployment rate remained stable at a seasonally adjusted at 3.2 % in January. Similarly, the unadjusted unemployment rate remained unchanged at 3.5 %.
In late January, there were about 153,260 people as unemployed, which are 3,823 more than compared to the previous month. Unemployment rose by 5102, compared with the corresponding period last year.
Unemployment among young people aged 15 to 24 years increased by 52 persons to 20 533 people. Nevertheless, the unemployment rate fell by 674 people compared to last year.
Canadian dollar: The Canadian dollar was down against the U.S. dollar, which has been partly due to the Report on Canada. As it became known, in Canada the number of Housing Starts fell by 3.7 % m / m to an average of 180,248 units in January. January was the result of lower than forecast analysts expecting 184,000 bookmarks.

Gold: Gold prices rose significantly today, as weak employment data in the U.S., which were presented at the end of last week, raised the question about the economic recovery, and a slowdown in stimulus from the Federal Reserve. The cost of the April gold futures on the COMEX today rose to $ 1274.30 per ounce for ounce.

Oil: Prices for Brent crude fell slightly, but will continue to be near five-week high above $ 109 a barrel as investors await comments regarding future policy the U.S. Federal Reserve. March futures price for U.S. light crude oil WTI (Light Sweet Crude Oil) rose to $ 100.27 per barrel on the New York Mercantile Exchange (NYMEX).

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Market review for 11.02.14: The British pound strengthened amid growth in retail sales.
Asian and European trading sessions:

Euro: The euro was moderately higher against the dollar, while investors expected the speech of new Fed head Janet Yellen . Immediately before Yellen will speak Philadelphia Fed President Charles Plosser , and it will probably pave the way in calling for a drastic reduction of bond purchases , while the unemployment situation remains favorable . Nevertheless, reducing the Fed's program is the focus of only a month later after it was launched. Submitted earlier economic data has not been unequivocally favorable. So this was the first performance for Yellen may become very active. The EUR / USD pair rose to $ 1.3678 during the European session.

British Pound: The British pound strengthened against the U.S. dollar, amid growth in retail sales. According to a survey released Tuesday by the British Retail Consortium (BRC), retail sales in the UK rose in January. The BRC Retail Sales Monitor showed that overall retail sales rose by 5.4 percent compared with a year earlier. Sales at stores that have been open a year or more grew by 3.9 percent per annum, said the BRC. Sales growth in same stores was much stronger than in December (0.4 percent), and is the highest since April 2011, when sales growth was 5.2 percent. Sales growth in general in December was 1.8 percent, and it was with a maximum value in March 2010. Non-food sales rose 5.1 percent in the last quarter of 2013, while sales of food rose by only 0.8 percent in Q4. Online non-food sales grew by 19 percent in January. The GBP / USD pair rose to $ 1.6470 during the European session.

Australian dollar: The Australian dollar rose to a four - week high after a positive report on real estate prices and the index of business sentiment from the National Australia Bank. In December, the number of approved loans for the purchase of residential real estate in Australia fell by 1.9%, while most economists had expected growth of 1.0%. Record low interest rates have led to an increase in the real estate industry, which helped to protect the economy, especially after the end of the ten-year investment boom in the mining industry. In turn, the January index of business conditions in Australia from NAB rose to 4 compared with 3 in December and business confidence index rose to 8 to 6.

American trading session:

U.S. Dollar: The dollar showed marked fluctuations against its competitors, and finally increased. The main focus of market participants was on the speech of Fed Chairman Janet Yellen . Speaking in the U.S. Congress with the semi-annual report on monetary policy, she noted that the situation in the labor market improved, but the economy still has a long recovery process. Yellen also supported the current policy of the FOMC and suggested that the Fed will continue at a moderate pace gradually curtail asset purchase program QE. She also noted that the achievement of targets will not mean automatic increase the federal funds rate. Rather, such progress would be to encourage the Central Bank to analyze the economic situation in order to determine at what stage the rate increase is justified. Yellen said that he sees " significant risks to the U.S. economic outlook " by the tension in the emerging markets , and did not consider politics QE factor that contributes to the formation of bubbles in the stock market , saying that the share price has risen from the average historical values only slightly.

Gold: The gold prices rose sharply, reaching at this three-month high, as investors heard that the new head of the U.S. Federal Reserve will continue the previous policy, which was held by Bernanke. The cost of the April gold futures rose to $ 1288.80 per ounce for ounce on the COMEX today.

Oil: The prices for WTI oil prices exceeded the $ 100 a barrel as investors analyzed the comments of the Federal Reserve System Janet Yellen that the U.S. central bank will continue to reduce program asset purchase.

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Market review for 12.02.14: The rate of the euro fell sharply on the comments of the ECB, in introducing negative rates.

Asian and European trading sessions:

Euro: The rate of the euro fell sharply against major currencies on the comments of the ECB representative Kera introducing negative rates. The comments collapsed the euro, which has lost more than 50 pips against the dollar in a matter of minutes. Previously, the pressure on the single currency had a report on industrial production in the eurozone. As shown by recent data on Wednesday statistical office Eurostat, industrial production in the euro area grew considerably slower pace in December, the growth rate fell short of economists' expectations. The industrial production growth fell to 0.5 % in December from a revised down 2.8 % in the previous month. Economists forecast that growth will weaken to 1.8 % from November 3 % initially announced. Production of energy fell by 1.9 % compared to December 2012. Consumer non-durable goods and durable consumer goods fell by 0.9 % and 1.2 % respectively. Meanwhile, the production of intermediate goods has increased by 3.6 %. The EUR / USD pair fell to $ 1.3564 during the European session.

British Pound: The British pound appreciated sharply against the U.S. dollar on a background of the quarterly report of the Bank of England and the speech of the Central Bank of Carney. According to the Bank of England inflation report, published today, the Central Bank is going to keep rates at a record - low of 0.5 %, at least for another year, even if the unemployment rate / p fall to 7% threshold that, according to expectations occur in Q1 2014. The Bank of England pointed out that the British economy will grow even before the Bank would raise rates. But it is worth noting that the increase will be gradual and not to such a high level, which was celebrated before the crisis.
MPC predicted that in the last quarter of 2013 Britain's GDP to grow by 0.9 % against the previous estimate of 0.7 %. As for the remainder of 2014, the Central Bank expected to raise by 3.4 % versus 2.8 % November forecast.
As for inflation, according to expectations, in the 2nd quarter of 2015 its growth will slow to 1.7%, and then accelerate again in 2016 and will reach 1.9%. Thus, under the policy of transparency, the Bank of England will consider a number of indicators, such as an index of manufacturing activity, working hours, labor productivity and wages. The size asset purchase program will continue to be £ 375 billion, at least until the first rate increase. The GBP / USD pair rose to $ 1.6557 during the European session.
American trading session:

Japanese Yen: The yen traded slightly higher against the dollar, though lost some previously won positions. Little impact on the bidding had words BOJ board member Takahide Kiuchi, who reported that an extra dose of easing monetary policy to prevent a potential recession caused by the expected introduction of a sales tax in April. The USD / JPY pair dropped to Y102.22 during the European session.

Gold: The gold prices rose today, reaching a three-month high at the same time as technical factors outweighed the positive growth of investor appetite for other riskier assets. The cost April gold futures rose to $ 1293.50 per ounce for ounce on the COMEX today.

Oil: The oil prices rose after a government report showed that crude stocks fell again Cushing terminal, registering with the second weekly decline in a row. The March futures price for U.S. light crude oil, WTI rose to $ 100.85 per barrel on the NYMEX.

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Market review for 13.02.14: The dollar fell under the little impact on weak retail sales data.

Asian and European trading sessions:

Euro: The euro rose against the U.S. dollar on a background of the ECB Monthly Report and data on inflation in Germany. The ECB in its February report indicated that inflation in the euro area should remain low for an extended period of time before it starts to gradually recover to the target of 2%. “Comparison with the monetary analysis confirms the reduced prices in the euro area in the medium term," said the ECB.
According to a study of professional forecasters, forecast HICP in 2014 was revised to 1.1 % from 1.5% previously. Forecast for 2015 was lowered to 1.4 % from 1.6 % in Q4. The forecast for 2016 was 1.7 %.
With respect to data for Germany, inflation, agreed by EU standards, remained unchanged in January, according to preliminary estimates. These are the latest data from the Federal Statistical Office. Harmonized index of consumer prices (HICP) increased by 1.2 percent per annum in January, the result was unchanged compared with the growth rate in December. Outcome corresponded to preliminary estimates. HICP fell by 0.7 percent compared to December, when it recorded a growth of 0.5 percent. Monthly changes are also consistent with preliminary estimates. The Statistical Office also reported that consumer price inflation fell to 1.3 percent in January from 1.4 percent in December, according to initial estimates. Moderation in inflation mainly reflects a downward trend in prices for mineral oil products. In contrast, the cost of electricity and solid fuel increases. In monthly terms, the consumer price index fell by 0.6 percent in early 2014. This followed an increase of 0.4 percent in December. The EUR / USD pair fell to $ 1.3687 during the European session.

British Pound:
The British pound strengthened on published data on the UK housing market, according to which in January house price balance of RICS fell to 53 %, compared with 56 % earlier in December. Recall that the index is calculated as the proportion of subtraction of respondents who reported a decline in prices, the share of those who reported an increase in prices. Nevertheless, it is worth noting that the demand for homes remains strong. “It’s no secret that we have seen a rise in prices in many parts of the country due mainly lack of objects represented in the market. Given the fact that more people are now turning to buy a home than at any time in recent years, the number of objects is simply not enough to meet demand. The result is a rise in prices in many areas, and it seems to continue for the foreseeable future "- says Peter Bolton King of the RICS. The survey also showed that the evaluators continue to expect prices to rise over the coming year. The GBP / USD pair rose to $ 1.6657 during the European session.

American trading session:
U.S. Dollar:
The dollar fell under the little impact on the U.S. data, which showed that retail sales fell 0.4 percent last month, led by a drop in car sales. Sales fell by a revised 0.1 percent in December. Economists had forecast that retail sales will be unchanged in January after rising 0.2 percent in December, which was reported earlier. Meanwhile, another report showed that the number of initial claims for unemployment benefits, a measure of layoffs, increased by 8000 and amounted to a seasonally adjusted 339,000 in the week ended February 8. The result was slightly higher than the 331,000 projected by economists. Meaning last week 331,000 remained without revision.

Canadian dollar: The Canadian dollar rose against the U.S. dollar, which was associated with the release of data on Canada. As it became known, Canadian prices for new homes rose slightly in December, while the increase at an annual rate showed the slowest 12-month increase in nearly four years. The prices for new homes across the country increased by 0.1 % in December on a monthly measurement. Note that prices for new homes in the previous month showed zero change. A 12 -month basis, prices rose by 1.3%, which corresponded to the market consensus forecast and represented the weakest 12-month gain since February 2010. Rising prices in monthly terms led the Greater Toronto, where the cost of a new home rose 0.2%, the largest increase since July. In 2013, the average annual increase in the price of new homes was 1.8 %, compared with 2.4 % in the previous year, and became the smallest increase since 1999.

Gold: The gold prices rose today, reaching a three-month high at the same time, and closer to $ 1,300 per ounce, as disappointing economic data from the United States put pressure on the dollar and the stock markets.

Oil: March futures price for U.S. light crude oil WTI fell to $ 100.24 a barrel on the NYMEX. The fall in prices was also due to the Report on the United States, which showed that the number of initial claims for unemployment benefits, a measure of layoffs, increased.

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Market review for 17.02.14: The weak result of the Japanese GDP put Yen under pressure.


Asian and European trading sessions:

British Pound: The British pound retreated from four-year highs against the dollar reached on housing data. Housing prices in Britain have risen markedly in February, registering with the largest increase in the last seven years. This was stated in the data, which were released on site estate Rightmove. According to the report, average house prices across England and Wales increased in February to £ 251,964, which was 6.9 % higher than the same period last year, as demand from potential buyers continued to strengthen. Add that last jump was the highest (in annual terms) since November 2007. In addition, it was reported that prices in London rose by 11.2 % per annum, in connection with which the average price was at around £ 541,313. In the north- east cost of housing has risen by only 0.1 %, against which the average price was £ 142,372. In Wales, house prices rose by 2.3 % year on year, reaching £ 165,055 on average.
After several years of uncertainty, more people are thinking about moving. Over the past four weeks, the number of new homes that were for sale on the website, averaged 27,768 units, an increase of 18 % compared with the same period last year. Growing supply increases demand from buyers, which indicates that the number of homes sold in 2014 may be more than last year, according to Rightmove. The GBP / USD pair fell to $ 1.6718 during the European session.

Japanese Yen:
The Japanese Yen lost scored during the Asian session positions against the dollar after data on GDP and industrial production. According to the report submitted by the Cabinet Office in Tokyo, annualized gross domestic product grew by only 1 % compared to the previous quarter. Thus, the figure fell short of the most pessimistic estimates of economists in 1.1%, while the average forecast assumed a 2.8% increase. The economic slowdown in Japan emphasizes the risks to recovery, especially before the rise of the sales tax in April to 8% from 5%. “Inevitably, the fact that the economy has weakened in the period from April to June because of the negative reaction to the demand," - said Yoshimasa Maruyama, chief economist at the Institute for Economic Research Itochu. Despite the fact that capital spending rose by the maximum value for two years, and consumption growth rose, external demand is still negatively affected GDP data. In January-March GDP growth is likely to accelerate, but some economists careful because higher wages cannot support the costs after raising taxes. Relatively weak exports could also have a negative impact on growth.
The volume of industrial production in Japan grew weaker pace in December than previously assumed. This was stated in the final data, which were presented today by the Ministry of Economy, Trade and Industry. According to the report, industrial production grew by 7.1 % in December compared with the same month last year, which was slightly less than the increase of 7.3 %, which was reported on January 30. However, growth in December was significantly higher than in November - at the level of 4.8 %. Seasonally adjusted industrial production rose by 0.9 % compared with the previous month. Recall that in November industrial output fell by 0.1 %. Preliminary data reported growth in December by 1.1 %. The USD / JPY pair rose to Y101.99 during the European session.

American trading session:

Gold: The gold prices rose to a peak of 3.5 months on a weaker dollar and concerns over U.S. economic growth. The cost of the April gold futures on the COMEX today rose to $ 1329.90 per ounce for ounce.

Oil: The cost of oil brand West Texas Intermediate rose for the first time in three days, while signs of improvement of the U.S. economy and record levels of new loans in China reinforced the demand outlook in the world’s two biggest oil consumers. March futures price for WTI rose to $ 101.13 a barrel in electronic trading on the New York Mercantile Exchange.

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Market review for 18.02.14: British pound dropped significantly against the dollar after message from the Bank of England.


Asian and European trading sessions:

Euro: The euro exchange rate rose slightly against the U.S. dollar. After the initial reaction to the mixed results of ZEW, the pair was able to gain momentum and growth in the area to recover the maximum values. Analysts said that in recent years to assess the current situation has become a good leading indicator of GDP. In this sense, today's sharp rise in this component was the good news for the economy, which increased the likelihood that in the first months of this year, it should gain momentum. Recall that the report showed that the index of sentiment in the business environment fell in February to the level of 55.7 points compared to 61.7 points in January. Experts expected that the value of this indicator decrease only to the level of 61.3 points. However, despite the decline, the index remained well above its historical average level of 24.5 points. In addition, the data showed that the rate that evaluates opinion on the current economic situation rose to 50 points in February from 41.2 in January, reaching its highest level since August 2011. Expectations were at 44 points. We also add that for the euro zone sentiment index fell in the business environment 4.8 points and reached the level of 68.5 points. Meanwhile, the index of the current situation in the euro zone improved by 8 points - to the level of 40.2 points. The EUR / USD pair rose to $ 1.3737 during the European session.

British Pound: Pound dropped significantly against the dollar after data showed that the UK inflation rate last month fell below the target value of the Bank of England, which is fixed for the first time in the last four years. The latter result confirms the message from the Bank of England, there is no reason to raise interest rates.
According to the report, consumer prices rose by 1.9 % per annum in January, compared with an increase of 2.0 % in December, while showing the weakest growth since November 2009. Economists had expected inflation to remain at 2.0 %. Add that up to December last year, the annual inflation rate exceeded the target of the Bank of England at the level of 2 % every month since December 2009 , undermining the purchasing power of households and making greater decline in living political issue ahead of elections next year. The main measure of inflation, which excludes prices of energy, food, alcohol and tobacco, increased by 1.6 % in January compared with the same month last year and an increase of 1.7 % in December, recording the smallest increase since June 2009. Compared with the previous month, the CPI fell in January by 0.6 %, which was unchanged compared to December, and it turned out as expected. The GBP / USD pair fell to $ 1.6652 during the European session.

American trading session:

Japanese Yen: The yen fell sharply earlier against the U.S. dollar, which was associated with the Bank of Japan's decision to increase the monetary base by 60-70 trillion yen (686 billion dollars). Central Bank doubled lending program until 7 trillion Yen to support the economy. This doubling of lending is seen as deep signal, meaning that the regulator is likely to further weaken the ready and their policy as it seeks to maintain liquidity volumes. In addition, the Bank of Japan extended periods of both programs for the year. Thus, the central bank kept the asset purchases unchanged, but decided to implement additional stimulus in the coming months. Regulator still aims to achieve the inflation target of 2 % and intends to achieve an economic breakthrough. The decision was taken by the members of the Monetary Policy Committee unanimously. The USD / JPY pair rose to Y102.73, and then retreated slightly during the European session.

Gold: The gold prices keep rising and near the peak of 3.5 months due to the weak dollar and concerns over global economic growth. The cost of the April gold futures on the COMEX today rose to $ 1332.40 per ounce.
Oil: The cost of oil rose today on speculation that the stocks at Cushing (Oklahoma) fell last week, while cold weather boosted demand for fuel. The March futures price for WTI rose to $ 101.62 per barrel on the New York Mercantile Exchange (NYMEX).

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Market review for 19.02.14: The U.S. dollar was affected on the back of weak reports on the U.S. housing market.

Asian and European trading sessions:

British Pound: Pound fell against the U.S. dollar, which was a reaction to the British report. Data that has been submitted by the Office for National Statistics showed that the UK labor market continued to strengthen in recent months in 2013 , in favor of which said revenue growth and a decline in the number of applications for unemployment benefits. However, an unexpected rise was recorded in the unemployment rate in the three months (December) compared with the previous three-month period. It serves as a reminder that the economic recovery is not as strong or balanced, says the Bank of England.
According to the report, the unemployment rate rose to 7.2 % in the three months (December), compared with 7.1% in the previous three months (November). However, the latter result was significantly lower than the 7.6% in the third quarter. It was also reported that the number of unemployed fell by 125,000 over the last three months of 2013. Increasing unemployment surprised economists, as they expected that this figure will remain the same.
Average growth of regular income , except for bonuses , in the three months to December rose by 1.0 % compared with 0.9 % in the previous three-month period , recording the largest increase since June last year . Moreover, it became known that the level of unemployment claims for employment fell in January to reach 3.6% from 3.7 % in December, showing the 15th consecutive monthly decline and reached its lowest level since December 2008. The GBP / USD pair fell to $ 1.6633 during the European session.

Japanese Yen: The yen rose against the U.S. dollar. This was associated with the release of the monthly report of the Bank of Japan. It says that the Japanese economy will continue to recover at a moderate pace in the near future, with the support of the further improvement of industrial production and foreign demand. The Bank of Japan, however, warned that economic growth will depend on the increase and subsequent decrease in demand before and after the increase in the consumption tax, which will be introduced in April this year. Adverse events in emerging markets, the European debt crisis and the pace of the U.S. economic recovery also pose risks to economic growth in Japan, according to the monthly report. Exports are expected to increase slightly, mainly to a recovery in overseas economies, says the Bank of Japan. At the same time, industrial production will continue to grow (albeit at a moderate pace) on a background of stability and strength of private consumption, investments in the housing market. The USD / JPY pair fell to Y101.86 during the European session.

Swiss Franc
: The Franc fell slightly against the U.S. dollar, as the report of Switzerland was worse than expected. Note that Swiss economic expectations retreated from the highest level in more than three and a half years in February, as financial analysts have become more cautious amid slowing growth in major export markets for the Alpine country. A study conducted by the ZEW Institute and Credit Suisse Group, showed that investors' expectations index fell to 28.7 points in February, compared to 36.4 points in January ( the highest since May 2010) . Recall, a positive value indicates that the number of participants who expect to improve the economic outlook is higher than the number of those who expect that they will deteriorate. While recent data from the ZEW contrasted with the Swiss PMI, increasing more than expected in January, and an early indicator of KOF, which rose to its highest level in two and a half years last month. They pointed out that economic growth in the euro area begins to support the demand for Swiss industrial goods , and it should stimulate the economy in the next six months.

American trading session:

U.S. Dollar: The rate of the dollar was affected on the back of weak reports on the U.S. housing market. Housing Starts fell sharply last month, a sign of "cooling" in the housing market in the United States. Decline was mainly associated with abnormally cold weather in large parts of the country.
The report of the Ministry of Commerce said that in January, housing starts fell by 16% to a seasonally adjusted, while reaching 880 thousand units. The figure for December was revised upward to reach 1.048 million units. At the head of the January decline were single-family housing bookmarks, which decreased by 15.9 % - up to 573 thousand in annual terms. Meanwhile, the number of building permits, which is an indicator of future construction, fell 5.4% to a seasonally adjusted - up to 937 thousand, compared to a revised figure for December at the level of 991 thousand units. Economists forecasted that housing starts dropped to 943 thousand, and the number of building permits decreased to 973 thousand



Gold:
The gold prices retreated on Tuesday marked a maximum of 3, 5 months amid profit-taking and reduce purchases in the physical market. The cost of the April gold futures on the COMEX today dropped to $ 1314.25 per ounce.

Oil: The cost of WTI crude oil is kept at close to $ 103 level on the background of continuing severe weather conditions in the United States. March futures price for WTI traded in the range $ 102.38- $ 103.35 per barrel on the NYMEX.

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Market review for 20.02.14: The yen strengthened against all major currencies after the fall of the stock market of Asia.

Asian and European trading sessions:

Euro: The rate of the euro fell sharply against the U.S. dollar, which was associated with the release of data on PMI. The decline began after a report showed that private sector activity in France has declined at a faster pace in February, which stood at the head of a marked deterioration in service sector activity. On a seasonally adjusted composite index of activity that assesses the effectiveness of the manufacturing and service sectors, fell to two-month low in February, and were 47.6 points, compared to 48.9 points in January. Recall that the value of this index below 50 indicates a contraction in activity in the sector. Meanwhile, it became known that the purchasing managers' index for the manufacturing sector fell to 48.5 in February from 49.3 in the year. Economists expected the index to rise to 49.6. At the same time, the activity indicator for the service sector fell to 46.9, compared with 48.9 in January. Expectations were at 49.5.
Pressure was also provided by the data for the euro area, which showed that the private sector economy continued its expansion in February, increased this streak to eight consecutive months, but showed weaker results than predicted by many economists. According to the report, the composite index, which measures the efficiency in the manufacturing sector and services, totaled 52.7 points in February, which was slightly lower than January's 31 -month high at 52.9 points. Economists had expected the figure was 53.1 points. Studies also showed that the Purchasing Managers Index for the manufacturing sector fell to 53 points in February to 54 points in January. Expectations were at the level of 54.2 points. Meanwhile, the activity indicator in the service sector rose to 51.7 from 51.6 at the beginning of the year. Economists expected the index to rise to 51.9. The EUR / USD pair fell to $ 1.3685 during the European session.

Japanese Yen:
The yen strengthened against all major currencies after the fall of the stock market of Asia. The negative on the stock market part of the publication of disappointing statistics on Chinese production. PMI from HSBC China fell to its lowest level in seven months and was 48.3, below the final data for January (49.5) and the average estimate of economists (49.5). The USD / JPY pair fell to Y101.66, then rose to Y102.10 during the European session.

Australian dollar
: The Australian dollar fell after the publication of disappointing statistics on Chinese production. As it became known , the Chinese manufacturing index fell again in February , continuing progress on reducing the territory , reaching a seven-month low , and that was due to a fall in new orders , suggesting that the economic recovery is losing momentum .
On a seasonally adjusted preliminary purchasing managers’ index from Markit / HSBC, which measures activity in the manufacturing sector fell to 48.3 points in February, compared to 49.5 points in January? Economists had expected the index to fall to the level of 49.4 points. The index currently remained below 50 points for the second month in a row and is at its lowest level in seven months.

Swiss franc: The Swiss franc fell markedly against the dollar, which has been associated with risk aversion. The positive trade balance data could not help franc. As it became known, Switzerland’s trade surplus rose sharply in January, driven by an increase in exports of chemical and pharmaceutical products.

American trading session:

U.S. Dollar: The dollar came under slight pressure after the block statistics from the U.S. Recent data from the U.S. Labor Department showed that the number of applications for unemployment benefits fell slightly last week, which was another sign of improvement in the labor market. According to the report, the seasonally adjusted number of initial claims for unemployment benefits fell for the week ending February 15, 3 thousand, reaching at this level of 336 thousand last value was slightly higher than predicted by experts - at the level of 335 thousand, but still was lower than average at around 344 thousand for the whole of last year.

Gold: The gold prices rose on the dollar's decline and increased demand in the physical market. Dealers expect jewelers will buy gold in times of price reduction, and high import duty on gold in India encourages its smuggling. Margins on gold bars in Singapore remained at last week's $ 1.20-1.50 per ounce to the spot price in London and dealers noted buying in Indonesia and sale of scrap gold in Thailand. Margins on gold bars in Hong Kong are held in the range of $ 1.30-1.50 to the price in London. The cost of the April gold futures rose to $ 1318.00 per ounce on the COMEX today.

Oil:
The cost of oil brand WTI fell from four-month high after the Energy Information Administration reported that stocks in the U.S. rose. March futures price fell to $ 102.75 a barrel on the New York Mercantile Exchange .

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Market review for 24.02.14: The euro fell against the dollar after rising data on the business climate in Germany.

Asian and European trading sessions:


Euro: The euro fell against the dollar after rising data on the business climate in Germany. German’s business climate indicator unexpectedly strengthened in February to the highest level since July 2011, despite the drop in expectations. These results are presented on Monday institute IFO. Business climate index rose to 111.3 from 110.6 in January. According to the average expectations index slightly rose to the level of 110.7. In addition, the current conditions index improved to 114.4 in February from 112.4 a month ago. Result was higher than expected level of 112.8. On the other hand, the expectations index fell to 108.3 in February from 108.9 in January. The result was predicted to drop to 108.1.
Also today published the final data on inflation in the eurozone. Consumer prices in the euro area grew at a faster pace in January than previously thought, but inflation remained unchanged compared to December showed the revised data published by Eurostat on Monday. Harmonized index of consumer prices (HICP) rose by 0.8% year on year in January. The result was unchanged compared with the growth rate in December. Preliminary estimates were at the level of growth of 0.7 percent in January.
At the same time, core inflation, which excludes energy, food, alcohol and tobacco, rose to 0.8 percent from 0.7 percent in December, according to initial estimates. Inflation has remained below the target level of the European Central Bank “below but close to 2 percent," the twelfth consecutive month.

In January, prices for foodstuffs, alcohol and tobacco rose 1.7 percent, while energy prices fell 1.2 percent. The cost of non-energy industrial goods increased by 0.2 percent, and prices of services expanded by 1.2 percent. On a monthly basis, consumer prices recorded a decline of 1.1 percent in January. The EUR / USD pair rose to $ 1.3770, and then fell to $ 1.3719 during the European session

American trading session:
British Pound:
The pound is trading slightly higher against the dollar, which is associated with the comments and the Bank of England published data. Recall, Bank of England Governor Mark Carney said that the new phase of further policy intentions should give a guarantee to maintain the economic recovery officials. According to Carney , the revised policy system further intentions reflects the need for a more complex set of judgments than was necessary in the first stage , when the link was only on unemployment . Bank changed its approach after unemployment fell faster than predicted officials up to the 7 percent threshold for considering an increase in the interest rate. Recent data showed that sentiment among UK service sector companies have improved to all-time high in the three months to February, while the sector recorded growth of the third quarter in a row. These are the results of a survey published by the Confederation of British Industry (CBI). The latest survey from the CBI service sector has shown that trust between service providers in the consumer sector, as well as in the professional services sector grew at the fastest pace since the management of records about fifteen years ago. Optimistic attitude reflected a remarkable recovery in business volumes, which rose the most since 2005, which resulted in the first ever recorded growth of profitability since 2007. Also forecast business volumes grew strongest pace in a decade, with the majority of the surveyed firms stated that they intend to raise the number of staff in the next quarter. The GBP / USD pair fell to $ 1.6595, but then rose to $ 1.6679 during the European session.

Gold: The Gold prices have risen markedly today, approaching the four-month high, which was due to the increasing concern among investors about the pace of the U.S. economic recovery and growth in China.
Weak U.S. data on industrial production and employment plus a slowdown in residential property prices in China in the last month ( fixed for the first time in 14 months ) increased concerns about the growth in the major economies of the world , which is reflected in the price of gold, which is often regarded as insurance in difficult times . The cost of the April gold futures rose to $ 1336.75 per ounce on the COMEX today.
Oil: The Oil prices rose modestly today, resisting the sharp decline in prices for some other risk assets on news of further production cuts in Africa and expectations revival of growth in demand for oil.
The data showed that Libyan oil production fell even more over the weekend, falling to 230,000 barrels per day after a new protest that forced the mine to close El Shararah . Before the start of the protests across the country in the middle of last year, Libyan oil production was at 1.4 million barrels per day.
The April futures price for WTI crude oil rose to $ 102.86 per barrel on the NYMEX.

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Market review for 25.02.14: The dollar gained on risk aversion, which increased on U.S. data and the prevention of the formation of bubbles made by Mr. Tarullo.

Asian and European trading sessions:
Euro:
The euro rose against the dollar on GDP data in Germany. The German economy grew moderately in late 2013 as originally anticipated at the beginning of this month, final data showed Destatis. Gross domestic product increased by 0.4 % compared with the previous quarter, which is slightly faster than the expansion of 0.3 %, which is seen in the third quarter. This was in accordance with the calculation results, published on February 14. The expenditure breakdown of GDP showed that exports of goods and services grew by 2.6 % compared with the third quarter. At the same time, imports increased by no more than 0.6 %. As a result, the balance of exports and imports contributed to the growth by 1.1 % age points of GDP and is a key economic engine in the fourth quarter. Investments grew by 1.4 % in quarterly terms. Nevertheless, stocks declined significantly, leading to slower economic growth by 0.8 %age points. While government spending remained unchanged from the previous quarter, household spending on final consumption decreased slightly by 0.1 %.
In annual terms with the calendar adjusted GDP grew more than doubled to 1.4 % from 0.6 % in the third quarter. In addition, the price-adjusted GDP grew by 1.3 % compared with 1.1 % in the previous period. Results in the fourth quarter correspond to preliminary estimates. The EUR / USD pair rose to $ 1.3765 during the European session.

British Pound:
The British pound rose against the U.S. dollar, supported by data and comments of the Bank of England Mr. McCafferty . Mr. McCafferty said in an interview with Reuters on Tuesday that the first term of the Bank of England rate hike will depend greatly on the state of inflation. In the case of acceleration of its growth may increase more than previously . Yet he stressed that the projections assume the first increase in Q2, 2015, and it is quite reasonable. Moreover, McCafferty said that the current growth of the pound does not harm British exports, but if it continues, the Bank of England will be forced to react.
With regard to the published statistics, the number of mortgage approvals in the UK rose by more than expected, and reached its highest level since September 2007, data showed the British Bankers Association (BBA). Number of loans for house purchase rose to 49,972 in January, the highest level since September 2007, from 47,086 in December. The expected level was 47,150. Including re- mortgages, general statements made 82,151 compared to 78,584 a month ago.
Another report showed that UK retail sales rose at the fastest pace since June 2012. These are the findings of research trends distributive trade from the Confederation of British Industry (CBI). About 45 % of respondents reported that sales rose compared with the previous year, while 8 % said they were down. This gave the balance 37 per cent. Retailers expect sales to grow at a steady pace in the next month - 43 % expect growth, 15 % expect a recession. The balance was 28 %. Investment intentions for the year ahead given the balance of 17 %, which is the strongest level since November 2010. Retailers also expect that their overall business situation will improve over the next three months. The GBP / USD pair rose to $ 1.6708 during the European session.

American trading session:

U.S. Dollar: The dollar gained on risk aversion, which increased on U.S. data and the prevention of the formation of bubbles made by Mr. Tarullo . Daniel Tarullo (Fed governor in charge of financial regulation), said that a small increase in risk in the credit markets, but this does not mean that in response to the central bank should raise interest rates. According Tarullo, the Fed should not exclude raising rates to combat potential "bubble” in asset markets, but it should first try to use, and then hone their regulatory tools to identify these threats to financial stability. Nevertheless, he added, raising interest rates in response to every little sign of the "bubble” will have significant negative consequences for the economy.
Report of the Federal Reserve Bank of Richmond showed in February manufacturing conditions in the region have deteriorated compared to the previous month. Corresponding index of manufacturing activity fell to 6 points in February compared to 12 in January. Economists had expected the index to rise to 13 points.
Meanwhile, a report from the Conference Board showed consumer sentiment index fell to 78.1 from 79.4 in January (revised from 80.7). Economists expected a decline to 80.2. Assess the current situation index rose from 77.3 to 81.7. This component of the index rose to its highest in nearly six years level. The expectations index fell sharply - from 80.8 to 75.7.

Gold:
The Gold prices rose today, the highest in four months, after disappointing U.S. data, which increased concerns about the pace of economic recovery. The cost of April gold futures raised to $ 1341.80 per ounce on the COMEX today.

Oil: The Oil prices fell today, weighed down by forecasts of growth in U.S. oil inventories. Nevertheless, supply disruptions from Libya and other key countries to keep prices from falling further. April futures price for WTI fell to $ 101.59 a barrel on the NYMEX.

Re: Daily Market Reviews From Forex-Metal

Market review for 26.02.14: The dollar grew on upbeat new homes January data.

Asian and European trading sessions:
Euro:
The euro fell against the dollar retreated from highs reached on data from Germany. According to a survey by GfK consumer confidence index in Germany reflected the improvement in March. Consumer confidence index rose to 8.5 points from 8.3 points in February. The index is projected to grow only had 8.3 points from February's initial value of 8.2. After five successive increases in economic expectations recorded a moderate decline of 3.4 points to 31.9 in February. In contrast to economic expectations, income expectations continued to rise in February to 48.6 from 46.2. They once again improved slightly from a 13-year high reached in the previous month.
Later, the EUR / USD pair moved down at the end of the European session, a fresh daily low. However, the pair remained within the range this week. The EUR / USD stuck at around $1.37, and intraday ranges are getting smaller and smaller.

British Pound: The British pound rose moderately against the U.S. dollar after the release of the revised GDP data. The UK economy grew in line with preliminary estimates for the fourth quarter and for the full growth in 2013 were weaker preliminary calculations. Such data are the Office for National Statistics (ONS).
Gross domestic product expanded 0.7 % in the quarterly measurement, according to a preliminary estimate published on 28 January. Growth rate slowed down slightly from the 0.8 % increase in the third quarter. In annual terms, the economy grew by 2.7 % - growth has been revised downwards to 2.8 %. In general, the 2013 GDP growth was revised down slightly to 1.8 % from 1.9 %.
With regard to production, mining, including oil and gas production fell by 1.9 % in the fourth quarter. Total production gained 0.5 %, compared with a preliminary estimate of 0.7 %. Construction volumes rose 0.2 % instead of 0.3 % fall estimated initially.
Increase in the dominant services sector confirmed at 0.8 %. Meanwhile, production in agriculture, forestry and fishing fell by a revised 0.1 %.
Another report from the ONS showed that production in the services sector grew by 3.2 % in December compared with the previous year. Compared with November services index rose 0.2 %.
According to preliminary results of the ONS, only gross fixed capital formation increased by £ 1.3 billion or 2.4 % in the fourth quarter compared with the previous quarter.

At the same time, business investment grew by an estimated 0.8 billion pounds or 2.4 % compared to the previous quarter and were 8.5 % higher compared to the fourth quarter of 2012. The GBP / USD pair rose to $ 1.6705 during the European session.

Japanese Yen:
The course of trading was influenced by words of board member Koji Ishida BOJ. He noted that because of the tax increase in April economic data in the first half can be very confusing and the Bank of Japan should be very careful when evaluating the economy. “In the first place should not hurry with the expansion of incentive programs “- said Ishida. The USD / JPY pair rose to Y102.45 during the European session.

Australian dollar: The Australian dollar fell against all major currencies after iron ore prices fell to a seven-month low. The cost of ore to Chinese imports got cheaper for a fifth day, dropping yesterday to $ 119.10 per tonne, the lowest level since July 1.

American trading session:
U.S. Dollar: The dollar grew on upbeat U.S. data. Sales of newly built homes rose in January, which was an unexpected sign of strength after a long period of weakness in the housing sector. Sales of new single-family homes rose 9.6% to a seasonally adjusted annual rate of 468,000 compared with the previous month, reaching the highest level since July 2008. Result December was revised up to 427,000. Economists had expected home sales in January to fall to an annual rate of 406,000. Increase last month was due to sales growth in the Northeast, where they rose by 73.7 % to compensate for the decline of the previous month. The South and West was also recorded growth, but new home sales fell in the Midwest.

Gold:
The gold prices fell sharply, while retreating from a four-month high reached yesterday as the dollar strengthened. The cost of the April gold futures rose to $ 1324.10 per ounce on the COMEX today.

Oil:
Prices rose 1 %, after it became known to decrease the oil terminal in Cushing by 1.08 million barrels for the week ended February 21. April futures price for U.S. light crude oil WTI rose to $ 102.79 per barrel on the NYMEX.

Re: Daily Market Reviews From Forex-Metal

Market review for 27.02.14: The U.S. dollar fell against its competitors, which was associated with the release of weak U.S.

Asian and European trading sessions:
Euro: The euro exchange rate decreased moderately against the dollar, despite exceeding the forecast of labor market data in Germany. Euro has not responded to report that the German unemployment fell more than expected, but the unemployment rate remained stable in February as was presented by the Federal Agency of Labour. Number of people out of work fell by 14,000 to 2.914 million in February. Unemployment is projected to drop by was 10,000. At the same time, the unemployment rate to a seasonally adjusted remained stable at 6.8 percent in February. In turn, the French consumer confidence index fell slightly in February, offset by the gain recorded in the previous month, as concerns over rising unemployment continue to plague the country, reducing the economic expectations. The consumer confidence index fell to 85 points on January 86, showed a survey conducted by the statistical office INSEE. Economists had expected the index to remain unchanged at 86. Views of households on the general economic situation in the next 12 months deteriorated sharply in February. Corresponding index decreased by 5 points. Score consumers their financial situation over the next 12 months a little weakened. The EUR / USD pair fell to $ 1.3645 during the European session.
Swiss franc: Pressure on the Swiss franc had data on slowing economic growth. The economic growth in Switzerland slowed more than expected in the fourth quarter as exports declined amid weak global demand for chemical and pharmaceutical products. This was announced on Thursday, the State Secretariat for Economic Affairs (SECO). Real GDP growth slowed more than expected to 0.2 percent from 0.5 percent in the third quarter. Projected growth should have been reduced to 0.4 percent. Economic growth has slowed down the second consecutive quarter. First estimates for the full year, based on quarterly data showed that economic growth accelerated in 2013 against the backdrop of private consumption and investment. The GDP grew by 2 percent in 2013 after expanding by 1 percent in 2012. SECO expects that growth will accelerate to 2.3 percent in 2014.

American trading session:
U.S. Dollar:
The U.S. dollar fell against its competitors, which was associated with the release of weak U.S. data and Fed chief comments. It is learned that orders for durable goods fell to a seasonally adjusted 1% from December. This was the second consecutive decline after orders fell 4.2 % in December. However, with except for the volatile transportation category, the orders rose by 1.1 % last month, showing the strongest growth since May. Economists forecasted that overall orders for durable goods fell 0.7% in January.
Meanwhile, another report showed that the number of initial claims for unemployment benefits rose by 14,000 and amounted to a seasonally adjusted 348,000 in the week ended February 22. The figure for the previous week was revised down to 334,000 from 336,000. Economists had predicted that jobless drop to 333,000. The four-week moving average of claims remained unchanged last week at 338,250. Analyst Ministry of Labour said there were no special factors that could affect the data last week.
As for the speech of the Chairman of the Federal Reserve Janet Yellen , she noted : the Fed will continue to reduce the amount of quantitative easing (QE), despite the fact that the recovery of the U.S. labor market is still far from complete. Yellen also reiterated statements made on February 11 at the House of Representatives. Initially, her performance in the Senate Banking Committee to be held on February 13, but was postponed due to inclement weather.
Moreover, Yellen confirmed that the base rate is likely to be maintained at the current level (0-0.25 %) for a long time after the U.S. unemployment rate falls below 6.5%, while maintaining the inflation forecast is not above the level of 2.5 %. She said: decisions regarding reductions in the rate of quantitative easing are not predefined and FOMC will be taken depending on the evaluation of the situation on the labor market and inflation.
Canadian dollar: The Canadian dollar fell slightly against the U.S. dollar, which was associated with the release of data on the balance of payments. As it became known, the current account deficit widened in Canada in the fourth quarter of 2013 and the fourth largest in history - mainly due to a higher deficit in trade in goods. The current account deficit rose to a seasonally adjusted 16.01 billion Canadian dollars ($ 14.39 billion), compared with a revised deficit in the third quarter at 14.80 billion Canadian dollars. Deficit in the previous quarter originally estimated at 15.47 billion Canadian dollars. Economists had expected a deficit of $ 16.5 billion Canadian dollars.
Gold: Gold prices rose today against the background of dollar fluctuations, but remained well below the four-month high, which was reached yesterday. The cost of the April gold futures rose to $ 1334.00 per ounce on the COMEX today.

Oil: Oil prices fell slightly today, due to the instability in Ukraine. April futures price for U.S. light crude oil WTI fell to $ 102.20 a barrel on the New York Mercantile Exchange.

24 (edited by Forex-Metal 2014-03-09 00:59:45)

Re: Daily Market Reviews From Forex-Metal

Market review for 03.03.14: The U.S. dollar strengthened against major currencies on the back of strong U.S. macro data.

Asian and European trading sessions:
Euro:
Rate of the euro retreated from the maximum values against the dollar, while returning to the levels of the session. Little support was data on index of industrial activity, but interest in him was short-lived, and attention gradually began to switch to U.S. reports, which caused the fall of the euro currency. Recall that the growth in the eurozone manufacturing sector weakened in February, but lesser expected than previously. This was stated in the final data, which were published earlier today by Markit Economics. According to the report, the seasonally adjusted purchasing managers' index for the manufacturing fell to 53.2 in February from 54 in January, the highest reading in 32 months. The decline in February was the first in five months. Result was also slightly higher than previously estimated - at 53 points. The index currently remains above the mark of 50 points, which separates growth from contraction for the eighth consecutive month. We also learned that the manufacturing sector continued to show growth in Germany in February, and have expanded more than initially expected. According to the report , the manufacturing purchasing managers index from Markit / BME fell to 54.8 points in February from January's 32-month high of 56.5 . The originally was reported on the significance of this indicator at the level of 54.7 points. The index remained above the neutral mark of 50 points for the eighth consecutive month. The EUR / USD pair fell to $ 1.3759 during the European session.
British Pound: The pound showed sharp fluctuations against the dollar, but in general, was trading in a small range. On the dynamics of trade influenced the British data, which showed that the UK manufacturing sector continued its expansion in February, registering with several large paces than in the previous month. It became known from the survey results, which were released Markit Economics and the Royal Institute of Purchasing and Supply (CIPS). According to the report, the seasonally adjusted purchasing managers' index for the manufacturing sector rose in February to a level of 56.9, compared with 56.6 in January, the figure for which was revised down from 56.7. A reading above 50 indicateed an increase in activity, while a drop below indicates contraction. The index currently remains above the neutral point of the eleventh month in a row. The GBP / USD pair traded in the range of $ 1.67650 -$ 1.67550 during the European session.
Japanese Yen: The yen rose against all major currencies as a result of increased demand for safe-haven currencies, after entering the Russian armed forces on the territory of Ukraine. It was learned that U.S. Secretary of State tomorrow John Kerry will travel to Kiev to meet with Ukrainian leaders and offer support. Tension in the region has reached its peak since the “cold war”. The USD / JPY pair dropped to Y101.20 during the European session.

American trading session:
U.S. Dollar: The U.S. dollar strengthened against major currencies on the back of strong U.S. macro data. U.S. consumer spending rose in January, more than forecast, together with a sharp increase in income, which increased the likelihood that the biggest part of the economy can sustain growth in early 2014. This was stated in the report, which was submitted to the Ministry of Commerce. According to consumer spending, which accounts for about 70 % of the economy, rose in January by 0.4 % after a 0.1 % increase in the previous month, which was revised to 0.4 %. Experts predicted that the value of this index will rise by only 0.2 %. We also add that the amount of consumer income increased by 0.3 %, after a zero change in December. As it was expected the revenues will grow by 0.2%. Today's report confirms recent data that indicate that Americans are beginning to overcome the effect of the severe winter, and confidence in the world's largest economy will grow.
Manufacturing activity in the U.S. rebounded in February after it’s weakening due to the weather in January, although production decreased. This was published by the Institute for Supply Management (ISM). According to the report, the Purchasing Managers Index (PMI) for the manufacturing U.S. in February rose to 53.2 after an unexpected decline to a minimum of 51.3 in January. Index value above 50 indicates growth in the sector of activity. Economists had expected the index to rise in February to 52.3. In turn, the final data from Markit showed that business conditions in the U.S. manufacturing sector improved in February compared with the previous month, and were slightly higher than those reported in the initial assessment. Corresponding PMI rose to 57.1 points, compared with a final reading for January at 53.7, and a preliminary estimate at around 56.7.
Gold: The Gold prices rose more than 1 % because of the worsening situation in the Crimea. The cost of the April gold futures rose to $ 1354.50 per ounce on the COMEX today.
Oil: Prices for crude oil West Texas Intermediate rose to its highest level since September. April futures price for U.S. light crude oil WTI rose to $ 105.25 per barrel on the New York Mercantile Exchange.

25 (edited by Forex-Metal 2014-03-09 01:01:14)

Re: Daily Market Reviews From Forex-Metal

Market review for 04.03.14: The euro has risen sharply against the U.S. dollar due to the easing of tensions around Russia and Ukraine

Asian and European trading sessions:
Euro:
The euro exchange rate has risen sharply against the U.S. dollar due to the easing of tensions around Russia and Ukraine. Recall that today Russian President Putin announced the completion of a series of military exercises in the western part of Russia, and ordered the troops to return to base.
The growth is also linked to the expectations of the ECB meeting on Thursday and the employment report in the U.S. on Friday. Little impact on the euro was data that showed prices of producers eurozone declined in January, more than expected, which was due to falling energy prices. According to the report, producer prices fell 0.3 % in January, while offsetting an increase of 0.2 %, which was recorded in December. Many experts expect that producer prices will remain unchanged. Excluding energy, producer prices rose 0.1 % after zero change in December. Energy prices fell by 1.4 % in January, compared with 0.5 per cent increase in the previous month. On an annual basis, the decline in producer prices accelerated in February, 1.4 per cent from 0.8 per cent in December. Last change coincided with the estimates of experts. The EUR / USD pair rose to $ 1.3775: during the European session.
British Pound: Pound rose slightly against the U.S. dollar, as a territorial dispute between Ukraine and Russia began to be resolved. Pressure on the currency was presented data that showed British construction sector continued its expansion in the month of February, but sharply slowed its pace of growth compared to the month of January, as adverse weather conditions violated activity. This was stated in the report, Markit Economics. According to the index of purchasing managers in the construction sector fell last month to a level of 62.6 points, compared with a 77 -month high in January at around 64.6 points. Many experts expected that this figure will decrease only to 63.6 points. I also add that the index remains above the level of 50.0 points, which separates growth from contraction since last May. Studies have also found that higher levels of production and new orders led to a further sharp rise in employment and procurement. The number of new jobs has reached three-month high in February. The total purchase price inflation accelerated to a five-month low in January, as the pressure on the "chain" of supplies contributed to the growth of the burden. As a result, the average price charged by subcontractors, increased at a record pace on record. The GBP / USD pair rose to $ 1.6718 during the European session, but then retreated slightly.
Japanese Yen: The yen weakened against most major currencies after the statements of the Bank of Japan Haruhiko Kuroda supported a pulse for the carry trade. According to Kuroda, low interest rates in Japan are encouraging investors to use the yen as the base currency for the carry trade. The USD / JPY pair rose to Y101.954 during the European session.

American trading session:
Australian dollar:
The Australian dollar strengthened slightly updating lows after Australia's central bank left interest rates unchanged at a record low 2.5 %. In its statement accompanying RBA Governor Glenn Stevens noted that the recent decline in the Australian dollar will balance economic growth, but the rate remained in high by historical standards.
Gold: Gold prices fell almost completely disappeared yesterday's gains, as demand for safe assets today downgraded due to signs that Russia may be trying to avoid further military build-up in the Ukraine. The cost of the April gold futures dropped to $ 1330.20 per ounce on the COMEX today.
Oil: The cost of oil brand West Texas Intermediate fell from five-month high amid speculation about tensions between Ukraine and Russia, the largest exporter of energy resources. April futures price fell to $ 103.10 a barrel on the New York Mercantile Exchange.