Investiční bankovnictví (Komerční banka)
World markets  |  January 14, 2013 08:09:00

The successful week for the European currency


Euro fared during the past week as the dollar gained against over 2.5 percent. Rate USD / EUR 1.3404 ascended the border, the highest level since last February. The currency strengthened in the final week, when she helped the ECB meeting. Press conference is particularly surprised investors speculating on further interest rate cuts. In fact, not one board member raised a hand for this step, and so unanimously ECB left interest rates unchanged. In addition, the evaluation of the macroeconomic situation was more optimistic than in the previous session.

Real data from the European economy should this week to confirm the weak end of last year. However, leading indicators point to a better start to the new year and offer hope that the worst is behind us.

In the United States this week will be charged macroeconomic calendar. Most attention they deserve, retail sales, along with University of Michigan consumer confidence. Will there but also data for industrial production or the real estate market. Expectations are relatively favorable, key indicators is expected to rise another mom. Also leading indices should indicate a friendly outlook. Better data will bring again the debate over when the Fed ends its program of asset purchases. Even from this point of view it might be interesting today show Fed Governor Ben Bernanke. Central bank meeting the world's largest economy will be held at the end of January. If the data disappoint, or vice versa even bring surprises, this should be the stimulus for the U.S. dollar. Recent appreciation of the euro has been very strong, so from this perspective it is possible during the week correction.


Author: Miroslav Frayer

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