Euro declines by industry data, U.S. Jobless Claims better than expected
Negative industrial production let the euro fall again. Against the USD continued uncertainty prevails.
EUR / USD back below 1.33 and back up again
The currency of the 17 countries of the euro zone had to give up some of yesterday's gains today. The data published today at 05:00 h on industrial production throughout the euro-area were significantly below the predicted values. While the forecasts saw a slight decrease of -0.1% (YoY), the actually determined value is significantly lower at -2.1%. Even compared to the previous month, the value found was -1.5%, well below the predicted minimum increase of 0.1%. The poor value for the euro-area already hinted at 04:00 h, when the data was released to the Italian industrial production. The values of the third largest economy in the euro-area amounted to -4.1% (year) and -1.1% (month) saw significantly below the forecasts -2.5% (year) and 0.1% (month) . The euro has suffered losses in a row against its most traded counterparts.
US - jobless claims better than expected
The weekly U.S. data released today, to the initial and continued jobless claims came out better than expected. The numbers show that 31,000 new applications and 73,000 applications for continuation less than the previous week was made. This shows that the U.S. economy continues to grow and be able to create new jobs. Today's figures also appear contrary to the fears of investors, the recovery could stagnate after the numbers last week turned out much worse than the forecasts had suggested this. As a result, the doubts were increasing about whether and how far the Fed will slow in the coming week, the program for the purchase of bonds. According to current figures, tapering is very likely. Only the scale is still uncertain. The, in the first speculations, suspected retraction of 85 billion to 65 billion per month is not likely to occur. The past few weeks have shown that the U.S. economy is indeed on a stable growth path that leads from time to time but through difficult terrain. Given the Fed will probably slow in a first step at 75 billion per month. If there is no negative impact on U.S. growth result, the next step could already take place in early 2014.
USD gains are off again, JPY increase
The USD was up today after the publication of data first, but currently he lose it again. The pair EUR/USD is currently showing an increase of 0.03% at 1.3313 and the GBP/USD is currently showing an increase of 0.01% at 1.5818. Against the AUD the dollar was up already in early trading after negative data were published from Australia to the labor market. Currently shows the pair AUD/USD at 0.9267 -0.65%.
The JPY was up against all its major counterparts today. The USD/JPY shows currently -0.72% at 99.17 and the EUR/JPY -0.70% at 132.04. The pair GBP/JPY shows currently -0.71% at 156.88.
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