Currency News



In the last week, there have been a number of more or less important market movers.

The eurozone has been under the investor’s eye for two reasons: fourth-quarter GDP and trade surplus.

GDP of the 4th quarter confirmed the expectations of the market and compared to the third quarter, the Eurozone GDP rose by 0,6% which confirmed both the expectations and the previous figure, both at 0,6%.

On an annual basis, however, GDP rose by 2,7%, finding full confirmation in the forecasts and the result of the previous survey still at 2,7%.

The trade surplus in the eurozone economy invaded the market negatively because in December the trade balance marked a surplus of 25,4 billion, against the increase to 30,2 billion expected by analysts. The figure for the previous month was confirmed at 26,3 billion.

As for the United States, the most important market movers were: inflation, industrial production and unemployment benefits.

January inflation in the United States surprised the market forecasts by registering a 0,5% on a monthly basis, which deviated from the result of the previous survey at 0,2%.

On an annual basis, however, inflation rose by 2,1%, which did not find confirmation in the forecast at + 1,9%, but did not differ from the previous figure.

Core inflation, on the other hand, increased by 0,3% on a monthly basis and 1,8% on an annual basis, compared to the respective 0,2% and 1,8% of the previous survey.

This figure was also the result of the retail sales which felt of 0,3%, against the 0,4% growth recorded in the previous month.

US industrial production was well below expectations in January. The index fell by 0,1%, against + 0,9% in the previous month, revised downwards to + 0,4%. Analysts expected a contraction of + 0,2%.

Even the initial requests for unemployment benefits have disappointed market expectations, the figure has in fact passed from 223.000 units of the previous survey to 230.000. On the other hand, unemployment claims continued to rise from 1.927 million to 1.942 million, compared with forecasts to 1.925 million.

Meanwhile, in Japan has been confirmed Haruhiko Kuroda that will not leave the Bank of Japan.

The BoJ governor confirmed Prime Minister Shinzo Abe, who was particularly confident about the man who, thanks to a particularly expansive monetary policy, managed to save Japan from stagnation.

The market mover of the week from February the 19th to the 23rd will provide new insights on the monetary policy of the Eurozone and the United States.

Both Federal Reserve and European Central Bank will publish their minutes relating to the last respective meetings, the first of the new year.

The week will be full of interesting market movers referring to inflation: both in Italy and in the entire Eurozone the trend in consumer prices will once again be monitored with attention on the Economic Calendar.

A focus also for the traditional data on the oil market. The prices of crude oil fluctuated dramatically in the last week, first buried by an increase in US production, then supported by a climate of greater optimism on the market.

Finally, among all the market movers, attention to those on the British and US labor market: from the UK unemployment rate to the US subsidy requests.

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