FX & CFD OBCHODOVÁNÍ NESE VYSOKOU MÍRU RIZIKA
The euro exchange rate rose significantly against the dollar, after the Governing Council of the ECB decided to leave the refinancing rate unchanged at 0.5% in June, after it had previously been a decrease of 0.25%. In a subsequent press conference, ECB President Draghi commented on the decision. The head of the Central Bank said that the inflation rate in the euro zone has been volatile in 2013. He assured that the inflation outlook remains "balanced," noting that the CPI growth risks were associated with higher indirect taxes and the prices of raw materials and downstream risks - with the weakness of economic activity. Despite the fact that the Central Bank is expected gradual recovery in economic activity in the second half of 2013, as evidenced by the growth of economic indicators, there are different factors that will contribute to easing - for example, the slow implementation of reforms by national governments, as well as weak domestic demand. Central Bank is ready to support demand through monetary policy, which will remain accommodative until it is needed. Draghi said that the EU should carry out structural reforms to boost competitiveness, employment, and reduce the deficit.
During the question and answer session the head of the European Central Bank said that the Governing Council discussed various non-standard measures such as the LTRO and ABS. He also noted that the Central Bank is technically ready to introduce negative rates, but as long as it is not needed.
Meanwhile, it was reported that the ECB cut its growth forecast for this year, it is expected that the economy will shrink by 0.6%. Leaders ECB expects the economy will grow in 2014 by 1.1%.
The British pound also strengthened significantly against the U.S. dollar, in response, so comments on Draghi. We add that a partial influence on the bidding was that MPC of the Bank of England today left interest rates at a record low 0.5%, where it has been since March 2009. He also upheld the asset purchase program at £ 375 billion previously it was increased by £ 50 billion to £ 375 billion in July 2012. Both solutions in line with the main forecast.
Support the pound also had data on house prices in the UK, which in May rose at the fastest pace in nearly two and a half years. Activity in the housing market has increased due to a variety of government programs. This is stated in a report released Thursday by the mortgage lender Halifax. The sales volume remained at the levels observed before the crisis, mainly due to lack of homes for sale. However, according to the government's own program for the housing market from the start of the program has already booked 4,000 houses under construction for two months. House prices rose in May by 0.4% compared to the previous month and by 2.6% compared to the same period last year. Annual growth was most rapid in September 2010. In April, prices rose by 1.1% compared with the previous month and up 2% compared to the same period last year.
The cost of the Canadian dollar sharply higher against the U.S. dollar, after data showed that the index of business activity managers from Ivey, who represented the Association of Purchasing Managers Canada and the Richard Ivey School of Business (Purchasing Management Association of Canada, Ivey) in May to a seasonally fluctuations rose to 63.1, indicating a high rate of growth in zakupok.Znachenie indicator above 50 indicates an increase in purchases and the value below 50 indicates a decrease. The median forecast of economists was at 55.3.
Also on the dynamics of trade impact statement skids Governor of the Bank of Canada, who said that the slowdown in domestic demand limits the incentive policy. He also added that "at some point" rates would be raised "to more normal levels," and the momentum of the foreign demand should help to increase the confidence of exporters. At the same time, skid agreed that household debt limits the effectiveness of policies, and the high value of the Canadian dollar has not yet encourages companies to invest in machinery.
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