Markets  |  March 01, 2013 09:58:00

EUR / USD and the morning dose of fundamental innovations

German retail sales rose in January at the fastest pace for the last 6 years and are able to discuss the December slump. German statistical office measured a 3.1 percent rise in December. Compared with January 2012, sales increased by 2.4 percent. The information is based on data on the sales of seven provinces, which account for roughly three quarters of the total German retail.

Spanish economies experiencing bad times. Footballing superpower losing their jobs 26.02 percent. Bad mood did not improve the outcome of today's purchasing managers index (PMI) of manufacturing sector. He still keeps in February in contraction zone below 50, reaching only to 46.8 points. Compared to January to a slightly improved by 0.7 points, but even this improvement is not living water for Spain.PMI index for manufacturing over the last 50 levels looked in May 2011.

Manufacturing PMI in Italy worsened compared to the previous measurement, after the results of the index improved two months, he came back slump. Today's result for February showed the value of 45.8 points, which is a noticeable deterioration from the previous 47.8 points. Italy has recently looked over a value of 50 in August 2011. Projections and the Italian production has to look forward to. Worsened outcome also brought news from the labor market. In January rose mom in measuring unemployment rate at 11.7 percent compared to the previous 11.3 percent. Economists predicted Italy to reduce unemployment to 11.1 percent.

Eurozone Manufacturing PMIalso did not show miracles. The survey showed in February to 47.9 points, which is a slight improvement compared to the January 47.8 points. Europe holds a deeper downturn since the German economy, which has the responsibility on their shoulders. Overall, the euro area can not increase production and receive new orders. The index is held since August 2011 below 50 points, which separates growth from overall decline in activity in the sector. Prospectively, thus manufacturing remains in contraction area. The biggest nightmare eurozone is now France, where the activity of factories has been declining year. On the contrary, Germany together with Ireland as the only eurozone countries had growth of industrial activity. The data come from the purchasing managers of some 3,000 companies in eight euro area countries, which together account for approximately 92 percent of industrial activity Monetary Union. Industry accounts for only about a quarter of the euro area economy in the private sector.Extensive survey of the services sector will be released on Tuesday.

Today, the U.S. stepped into the automatic cuts. At 6 o'clock in the morning our time, began in America pay austerity program. It is the sum total of $ 85 billion, which will have an impact on the overall functioning of the state and the individual institutions. This whole week before the chief warned U.S. central bank (Fed) Ben Bernanke has become a reality. Avoid this measure was not possible, because U.S. political leaders failed to agree on a different basis, and so they do nothing other than to start in the media blame toss from one side to the other. International Monetary Fund (IMF) has previously announced that if there is this measure and are projected to reduce U.S. economic growth in 2013 by 0.5 percent.

EUR / USDagain faces the challenge to overcome the 1.3044 support. The mood remains rather bearish due to the position of moving averages. The figure shows that the price we got into downward triangle in which penetration is currently worth the wait. Areas of resistance remains downward trend line.

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EUR/USD a ranní dávka fundamentálních novinek

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