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Overview of the main economical events of the current day - 16/01/2014
Empire State Manufacturing Index Reached its 20-months High
On 15 January on Wednesday the US dollar rose Vs most major currencies amid the release of positive data of Empire State Manufacturing Index and Producer Price Index. Euro was traded downwards amid the deceleration of economic growth in Germany in 2013.
Empire State Manufacturing rocketed in January. Empire State Manufacturing Index shot up to 12,51 p. in January from the upwards revised December reading of 2,22 p., and reached its high from May 2012. The growth to only 3,75 p. was expected. The new orders subindex increased most of all (2-years high), as well as the general business conditions, shipments and inventories. New-York is the largest metropolis and the most important economic center of the USA and the whole world.
Producer Price Index in the USA in December increased by 0,4% m/m after 3-months decrease which coincided with the expectations. Annual Producer Price growth rate in the USA in December exceeded the expectations (+1,1%) and increased by 1,2% after the growth by 0,7% in November. Producers Price Index Ex Food & Energy increased by 1,4% y-o-y against the expectations of growth by 1,3%. The US headline inflation data will be released on Thursday.
On Wednesday FOMC Member Evans announced the QE3 reduction plan seems substantiate, and QE3 Tapering by $10 billion in January will be continued – however, the US economy will need Fed’s special support for quite a long time. The Central Bank will save low rates for a long time even after achieving 6,5% Unemployment Rate. The USA House of Representatives approved the draft bill of the government funding till September. It is expected that the Senate will approve the bell on Saturday.
The pound fell to more than 3-week low Vs the US dollar. The euro was also traded downwards amid more weak than expected Real German GDP Growth data. The economic growth rate of Germany slacked to 0,4% in 2013 from 0,7% of the previous year – whereas the annual growth by 0,5% was expected. German Public Finances Balance of the last year made 0,1% of GDP Ratio in 2012. Balanced budget was forecasted (indicator values at the level of 0,0%).
The Euro zone Trade Balance increased in November to €16.0 b from € 14.5 b of the previous month, which appeared to be less than expected growth to € 16.7 b. The Euro zone export rate was reduced in November for the first time for the last 4 months. ECB’s Yves Mersch informed about the possible inflation deceleration in the Euro zone, though he doesn’t observe direct danger yet.
The yen continued to lose its position for the second day in a row amid the Stock Market growth after the release of the US Retail Sales positive data. On Wednesday Nikkei 225 rocketed by 2,5%, having recuperated after strong Tuesday fall since August 2013. The Australian dollar was traded downwards amid crediting recession in China, the largest trading partner of Australia. New Loans fell in December to 482,5 b yuans from 624,6 b in November, whereas less decrease to 590 b was expected. AUDNZD pair reached 8-year low.
By MasterForex Company
Empire State Manufacturing Index Reached its 20-months High
On 15 January on Wednesday the US dollar rose Vs most major currencies amid the release of positive data of Empire State Manufacturing Index and Producer Price Index. Euro was traded downwards amid the deceleration of economic growth in Germany in 2013.
Empire State Manufacturing rocketed in January. Empire State Manufacturing Index shot up to 12,51 p. in January from the upwards revised December reading of 2,22 p., and reached its high from May 2012. The growth to only 3,75 p. was expected. The new orders subindex increased most of all (2-years high), as well as the general business conditions, shipments and inventories. New-York is the largest metropolis and the most important economic center of the USA and the whole world.
Producer Price Index in the USA in December increased by 0,4% m/m after 3-months decrease which coincided with the expectations. Annual Producer Price growth rate in the USA in December exceeded the expectations (+1,1%) and increased by 1,2% after the growth by 0,7% in November. Producers Price Index Ex Food & Energy increased by 1,4% y-o-y against the expectations of growth by 1,3%. The US headline inflation data will be released on Thursday.
On Wednesday FOMC Member Evans announced the QE3 reduction plan seems substantiate, and QE3 Tapering by $10 billion in January will be continued – however, the US economy will need Fed’s special support for quite a long time. The Central Bank will save low rates for a long time even after achieving 6,5% Unemployment Rate. The USA House of Representatives approved the draft bill of the government funding till September. It is expected that the Senate will approve the bell on Saturday.
The pound fell to more than 3-week low Vs the US dollar. The euro was also traded downwards amid more weak than expected Real German GDP Growth data. The economic growth rate of Germany slacked to 0,4% in 2013 from 0,7% of the previous year – whereas the annual growth by 0,5% was expected. German Public Finances Balance of the last year made 0,1% of GDP Ratio in 2012. Balanced budget was forecasted (indicator values at the level of 0,0%).
The Euro zone Trade Balance increased in November to €16.0 b from € 14.5 b of the previous month, which appeared to be less than expected growth to € 16.7 b. The Euro zone export rate was reduced in November for the first time for the last 4 months. ECB’s Yves Mersch informed about the possible inflation deceleration in the Euro zone, though he doesn’t observe direct danger yet.
The yen continued to lose its position for the second day in a row amid the Stock Market growth after the release of the US Retail Sales positive data. On Wednesday Nikkei 225 rocketed by 2,5%, having recuperated after strong Tuesday fall since August 2013. The Australian dollar was traded downwards amid crediting recession in China, the largest trading partner of Australia. New Loans fell in December to 482,5 b yuans from 624,6 b in November, whereas less decrease to 590 b was expected. AUDNZD pair reached 8-year low.
By MasterForex Company