USD
Dollar chosen for himself a new tactic: it is necessary to grow, what you can. Now, he grew up on a weakening stock markets, but also on positive economic data. In July, sales in the primary housing market in the United States grew stronger forecasts, adding to optimism about the prospects for economic recovery from the strongest since the 1093-ies. recession. According to the Ministry of Commerce, sales increased by 9,6%, reflecting the highest since February 2005 increased, reaching 433 thousand number of homes on the market fell to 16-year low. The increase in sales of new homes, combined with increased purchases in the secondary housing market and stabilize prices, talk of a possible end of the recession in the housing market against a background of recovery in demand, received a boost from the Fed and the Obama administration. A separate report showed that orders for U.S. durable goods rose in July, highest in the past two years due to increased demand for aviation equipment and telecommunications equipment. Of course, this played a role and the program Cash for crock. However, one result - production in the near future may receive an incentive in connection with more active demand.
However, it is worth quite skeptical of this optimistic data. Most likely, this is precisely the influence of incentives the government, suggesting the probability of rollback rates as the end of the implementation of all packages. We have somehow seen this momentum when the U.S. government began to recover taxes. The effect was only momentary.
Today promises of GDP for the second quarter, which is worth paying attention, given the recent bursts of optimism in Europe and Japan. Any withdrawal rate above forecasts could cause another wave of demand for risky assets. In addition, do not forget to pay attention to the number of applications for unemployment benefits (as an indicator of the labor market), as well as the consumption of the population.
EUR
euro has gradually given the loot, even though very impressive data on business confidence. The mood in the business circles of Germany in August, rising fifth month in a row, surpassing economists' expectations. This gives grounds to hope for successful restoration of Germany's largest economy from recession, the strongest since the second world war. Ifo Institute reported that the business climate index rose in August to 90,5 pkt. against 87,4 pkt. in July. This is the maximum value since September last year. Nevertheless, the report on import prices in Germany reflect a greater decline than anticipated. This is another indication of moderating inflation, which could still turn into deflation.
Today Theme German inflation will continue in the form of regional reports - will give them your attention. But the data on money supply E-16, likely to be ignored.
GBP
Pound continues to decline in her eyes, an eye that never found a foothold. Blame for everything, of course, the Bank of England, which his critical sentiments infected all markets. Yesterday was quite uninteresting in terms of economic events, but today we finally get at least some data. Report on volume of investment in the corporate sector can show how much companies are willing to go to capital expenditures. But the data on distributive trade will reflect consumer sentiment in the country.
JPY
The flight from risk recaptured markets and the yen took from this to the maximum. Asian trading began with the fall of crosses involving the yen, which sent the euro /yen mark for Y134, and the dollar /yen - under Y94 against the negative dynamics of the Chinese stock market, which ended the morning session in negative territory.
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