According to Eurostat, consumer prices in the euro area remained unchanged in September compared with the previous month, but fell in the annual rate of 0,3%.Consumer prices in the euro area continued to decline in annual terms for the fourth consecutive month, thanks to falling prices for transportation, real estate and food products.Rate of inflation excluding the prices of food and energy prices fell in September to 0.2%. As a result, yoy index fell 1.2%.
Posts Tagged ‘Euro’
Consumer prices in the euro area remained unchanged in September
Posted by admin on October 15th, 2009
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Today the direction of the stock exchanges will set the corporate reports
Posted by admin on October 13th, 2009
On the agenda reports on income from «Intel» and «Johnson & Johnson». Of particular interest is «Intel» (publish a report after the close of the market). We expect good financial performance. Yesterday’s trading day was calm and in terms of makrostatistiki, and in terms of corporate reports, but it did not stop the rally of risky assets. European stocks have shown excellent results. The same can be said about the dynamics of the euro, Canadian and Australian dollars.Today on the agenda reports on income from «Intel» and «Johnson & Johnson». Last published before the opening of markets in the United States.
Investors were cautious yesterday ahead of an ECB rate decision, but the euro has rebounded this morning
Posted by admin on October 8th, 2009
The euro relinquished some of its recent gains against the greenback yesterday, with investors on the defensive ahead of the ECB rate decision today. A broadly stronger dollar was the currency of choice yesterday as investors trimmed “riskier” positions in favour of the haven currency as equities slipped into the red, easing risk appetite.The dollar also benefited after a US official said raising interest rates would not derail the US economic recovery. “Even if we were to start immediately, much time would pass before incremental increases could be considered tight or even neutral policy.Additionally analysts noted that the greenback was being supported by speculation that the dollar’s decline may have been too fast to sustain.In trading this morning, the greenback has come under pressure after Australian employment data reinforced demand for higher-yielding assets. The ECB are widely expected to announce today at 12:45BST that interest rates in the eurozone will remain at a record low of 1.0%, though the tone of the accompanying statement is likely to reflect growing optimism over the state of economic recovery in the region.
No reprieve yet for the ailing pound; continues to slide further against the euro
Posted by admin on October 7th, 2009
The pound slid for the third consecutive day against the single currency, losing 0.6% following a fall in industrial output, to close at 1.0812.Sterling received an early boost yesterday morning as a Halifax survey revealed a further rise in UK house prices of 1.6% in September, buoying hopes of a strengthening economy. However, such hopes were soon dashed after data revealed an unexpected fall in UK manufacturing output, which raised doubts over recovery prospects. British manufacturing fell 1.9% on the month in August, its steepest fall since January, which compares to a downwardly revised rise of 0.7% in July, and fell some way short of analysts’ predictions of a 0.4% increase.
Selling pressure held firm on the pound yesterday, with the euro price falling below €1.08
Posted by admin on October 6th, 2009
The pound was unable to capitalise on improved services data, eventually losing over half a cent to a broadly stronger euro.The pound initially found some respite as positive data from the services sector bolstered expectations that the economy resumed growth in the third quarter. The purchasing managers’ index for the services sector showed a rise to 55.3 in September, showing improvement from last month and exceeding market expectations. However, sterling quickly relinquished its gains over expectations that the MPC meeting later this week will reaffirm that the UK monetary policy will remain comparatively loose for some time.
Pound advanced against a broadly weaker euro yesterday, but has stumbled in trading this morning
Posted by admin on October 2nd, 2009
Sterling climbed half a cent against the single currency yesterday, helped by a weaker euro, which was undermined by comments from an EU official.In early trading, the pound was able to brush off an unexpected fall in the UK Manufacturing industry, which contracted to 49.5 in September, from 49.7 in August, against the market expectations of an increase to 50.3. The pound then gained against a broadly weakened single currency as European officials expressed discomfort over the euro’s recent rise in value. A top European official announced that he would discuss the EU’s concern over the recent appreciation of the euro at the G7 meeting this weekend.
Euro advanced yesterday but its progress has been halted today in the wake of dovish euro speculation
Posted by admin on October 1st, 2009
The euro pushed higher against the dollar yesterday in choppy trading, even as disappointing US economic data weakened stocks.The single currency made strong gains yesterday morning, supported by the results of the ECB cash tender offer. The volume of bids was lower than expected, which implied that financial conditions in the eurozone were improving and there may be less need for the ECB to inject money into the market. Additionally, German unemployment fell again in September and even after seasonal adjustments, the number of jobless fell by 12,000, resulting in an overall dip in the unemployment rate to 8.2%, which buoyed demand for the single currency.
Sterling relinquished strong gains vs euro yesterday as risk appetite eased
Posted by admin on October 1st, 2009
The British currency, unable to capitalise on strong early gains, lost ground against the euro yesterday, as an easing of risk appetite wore heavily on the fragile pound.Initially, sterling extended Tuesday’s rebound following a surprising jump in UK consumer sentiment, posting its biggest monthly boost in more than 14 years and signalling growing optimism about the UK economy. Additionally, the pound found support from signals that the Bank of England may not cut its bank reserves deposit rate anytime soon. In the afternoon however the pound gave up its gains, as weak US data brushed off on equity markets and sent the pound back down to a close of 1.0915.
An easing of risk appetite weakened the euro yesterday, but it has rallied back over $1.46 so far today
Posted by admin on September 30th, 2009
The single currency hit a two-week low against the greenback yesterday as a rise in risk aversion strengthened demand for the haven currency.The dollar rose for a second day as evidence that economies have yet to shake off the worst effects of the global recession spurred demand for the safety of the U.S. currency. Russia’s central bank cut its main interest rate, signaling that things are not as positive as they appeared previously, and spurring demand for the dollar. The greenback also found support following a disappointing US consumer confidence survey, which cautioned investors in their risk appetite.
Pound edged higher against the euro yesterday and has consolidated its position this morning
Posted by admin on September 29th, 2009
Having traded in the red for most of the day, the pound rebounded in the afternoon to close the day marginally up at 1.0859. ECB President Jean-Claude Trichet in a speech yesterday stated that the European economy will likely recover slowly in the coming months. Trichet continued, saying that it was too early for the ECB to stop pumping liquidity into the economy or to raise interest rates, which slowed demand for the single currency. Additionally, data showed that consumer prices in Germany fell faster than expected in September, which was a steeper decline than the market had looked for, capping the euro’s gains .
Sterling continued to slide vs the euro on the run up to the weekend, but has capped its losses this morning
Posted by admin on September 28th, 2009
Sterling fell yet further on Friday on perceptions that the UK currency would be allowed to weaken to help the fragile British economy. The pound dropped to a fresh five-month low against the euro on Friday as traders continued to sell sterling following comments from Mervyn King that sterling’s fall was helpful in rebalancing the UK economy. Some analysts have suggested that these comments which have undermined the UK currency, have become a new policy tool with which the central bank can kick-start the economy. Pressure on the pound was also stemming from the UK’s budget deficit and continued speculation that the BoE might yet loosen monetary policy further.
The pound’s decline continues, as confidence in the currency is undermined
Posted by admin on September 25th, 2009
Sterling went into its steepest daily decline against the single currency in 5 months yesterday, losing 1.2%, after Mr. King revealed that he was content with the current value of the pound. Sterling hit its lowest euro price since early April, extending broad losses after Mervyn King said that a weak pound was supporting a necessary rebalancing of the UK economy.The euro was also supported by a further rise in business confidence in Germany. Although expectations for the Ifo economic survey were not matched in September’s report, the modest increase reflected optimistic future expectations for economic recovery.Demand was further eroded as the Daily Telegraph reported yesterday that the Bank of England was set to meet with economists in a “crisis” meeting designed to stem alarm and confusion over the QE program and the weakness of the pound.Additionally, once the pound broke below the 1.10 level, automatic sell off points were triggered, driving sterling down to a near six month low of 1.0922.The pound has slid further in trading this morning, losing another 0.5%, and currently trading around 1.0900.
The dollar reversed its slide yesterday, buoyed by stronger equities, but has fallen back today
Posted by admin on September 24th, 2009
Despite a reassertion that US interest rates would stay low, the dollar advanced over half a cent against the single currency yesterday as global stocks went into decline. During early European trading yesterday, the intense selling pressure on the dollar abated amid caution ahead of the Fed’s rate decision, with the pair holding around the 1.4800 level.In the evening, the statement from the Fed confirmed speculation that rates would remain low for an extended period of time, which sent the euro to a high of 1.4841.However, the greenback rebounded strongly, as traders remained cautious of betting aggressively against the US dollar following a sudden slide in US stocks.
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