Investiční bankovnictví (Komerční banka)
Currencies  |  April 26, 2012 08:12:00

Euro 3týdennímu solidified to its peak against the dollar

The U.S. central bank surprised. Ben Bernanke said at a press conference that the Fed's approach to economic development is risk neutral and balanced and that the current setting of monetary policy is appropriate. He added that the bank is ready to further promote economic growth, if the situation requires. We also waited revision of macroeconomic forecasts. Total raised was expected estimate for GDP growth this year to 2.4 to 2.9% (0.2 pp from the previous forecast), there was a significant reduction in the unemployment rate to 7.8 - 8.0% (-0.45 pp) and inflation rose slightly to 1.9 - 2.0% (0.35 pp). Medium-term outlook then pointed to a slightly weaker economic growth, slightly higher inflation and lower unemployment. Regarding the next round of quantitative easing, a performance too.Bland formulation, that the Fed will continue to assess and monitor the economy if unemployment dropped enough toward its long-term normal level, and whether inflation is close to target, in particular suggests that the Fed implicitly targets the unemployment rate to 7% for the end of 2014 and that any factor indicating a higher level could be a potential reason for the further relaxation of monetary policy.

The reaction of the USD / EUR was not significant. Euro during yesterday's session had a tendency to a slight strengthening of the night and during the 3-week climbed to its maximum limit of 1322. The potential for greater profits but is limited because of persistent debt problems in Europe. Revenues European bonds fell yesterday, but less so in the case of Italy, which is preparing for tomorrow's auction of several bonds.

Today will be in the United States in addition to regular Thursday applications for unemployment benefits posted additional information from the real estate market and the leading indicator of industrial activity in the vicinity of Kansas. In Europe, then we will see more interesting indicators of confidence among consumers and entrepreneurs and the first estimate of German inflation.

Author: Miroslav Frayer

Tyto zprávy pro vás vytváří Investiční bankovnictví KB.
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