News and Reviews European Economic Zone

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News and Review of European Economic Zone (Germany)

 

German Factory Order Number Down In March

Wednesday, May 7, 2014

 

Total factory orders in Germany unexpectedly dropped in March , sinyalkan that growth in Europe's largest economy is still not stable .

 

The number of bookings , which is seasonally adjusted and inflation , fell 2.8 % from February , when the report when it is in revision to rise 0.9 % , in the report by the Federal Statistics Office in Wiesbaden today . Economists had predicted there would be an increase of 0.3 % , according to the estimates of 37 economists in a survey Bloommberg .

 

The German economy is set to " growth " dynamic and broad based " the European Commission said in a report kuartalanya , although the Bundesbank has warned that the expansion will be " felt " slowed down after reports very strong first quarter . Germany will face obstacles that include low levels of inflation , slowdown in China and Russia amid rising tensions with their effort to lead the Eurozone out of the longest recession of all time .

 

" There is a risk that can slow growth , " said Michael Holstein , an economist at DZ Bank in Frankfurt . " But the big positive factor is the recovery from outside the Euro zone , and the impact of German Industry outweigh the negative influence of China or Russia . "

 

Total domestic demand fell by 0.6 % in March from the previous month , while export demand fell by 4.6 % , on show in a report today . Total bookings for the Euro zone fell by 9.4 % while outside the Euro zone fell by 1.7 % .

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News and Review of European Economic Zone (France)

 

French Trade Deficit Widens In March

Wednesday, May 7, 2014

 

French trade deficit widened in March compared with February as surging value of imports, and overcast increase in import value, the data show on Wednesday.

 

The trade deficit in the country with the second largest economy in the euro zone rose to 4.64 billion euros ($ 6.87milyar) in March from 3.77 billion euros in February, figures show by customs agencies.

 

The value of exports rose slightly to 36.38 billion euros from 36.17 billion in the previous period. Increased energy consumption has pushed the value of imports higher into 41.32 billion euros in March of 39.94 euros in February.

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News and Review of European Economic Zone (Switzerland)

 

SNB Foreign Currency Reserves Rise In April

Wednesday, May 7, 2014

 

Foreign currency reserves belong to the Swiss National Bank rose in April, according to data on Wednesday. The SNB has a worth of 438 949 billion francs in foreign currency reserves at the end of April, compared with 437 935 billion in March, which was revised down from 437 938 billion previously, indicated by the data computed by the standards of the International Monetary Fund.

 

SNB hold the strengthening franc on September 2011 to help ward off recession and deflation threats and was forced to intervene heavily in the year 2012, as the eurozone crisis in the growing, making foreign currency reserves continued to swell.

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News and Review of European Economic Zone

 

ECB Maintain Interest Rate At 0.25 %

Thursday, May 8, 2014

 

European Central Bank ( ECB ) maintained its benchmark interest rate at a record low and did not announce new measures to stimulate the economy of the euro zone on Thursday . For the sixth consecutive month , the ECB has maintained its benchmark interest rate at 0.25 % and did not take the new policy measures , despite speculation that President Mario Draghi may ballooning take action to address the problems of the euro zone disinflation . Although the inflation rate edged up to 0.7 % in April , but inflation is still far from the target ECB is near 2 % . The euro rose to a two -month high against the U.S. dollar after the announcement by the central bank . Draghi will hold a press conference at 19:30 pm , where he will explain the ECB 's decision , and whether the central bank will take action next month .

 

" The market will be looking forward to the level of disclosure in the absence of new policy measures in June " said Nick Matthews economist at Nomura on Mario Draghi press conference . " We expect Draghi would indicate a dovish stance , " he added , which expects the ECB will cut its benchmark interest rate and saving as much as 10 basis points in June .

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News and Review of European Economic Zone (UK)

 

Halifax : House Prices In UK Back Up In Central Improving Economy

Thursday, May 8, 2014

 

UK house prices rose in the three months to April , and the demand for property continues to outstrip supply , according to a report from Halifax .

 

House prices rose by 2.3 % compared with the previous three-month period to an average range of 177,648 pounds ( $ 301,300 ) , in the report by the mortgage unit of Lloyds Banking Group today . Meanwhile, prices fell in April from March , says Halifax in volatile monthly changes . In a separate report , the Royal Institution of Chartered Surveyors also said that house prices are still in the upward trend will continue belanjut .

 

" Demand for homes continues to be supported by the economic recovery continues to gather pace , " said Stephen Noakes , mortgage director at Halifax . " With the supply of property is slowing in response to market conditions , strong demand in the past year has resulted in upward pressure on house prices . "

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News and Review of European Economic Zone (UK)

 

Bank of England Hold Interest Rates

Thursday, May 8, 2014

 

The Bank of England kept interest rates at a record low on Thursday , despite signs that the UK economic recovery and the rapid increase in house prices rise sharply . BOE's Monetary Policy Council maintain the benchmark interest rate at 0.5 %, which has not changed since the financial crisis more than 5 years ago . BOE also does not change the amount of the bond purchase program at 375 billion pounds which have been added in recent years to try to re- move the economy . BOE has not issued a statement on Thursday . That is because the new quarterly economic projections that will dimumkan next Wednesday when the BOE Governor Mark Carney held a press conference .

 

Britain is likely to grow at a faster rate than other G7 countries this year , and growing expectations that the Bank of England may raise interest rates sooner than signaled . The pound touched the strongest level against the dollar in nearly 5 years this week . Investors believe the first rise in interest rates will occur in the first quarter of 2015. BOE in February signaled that the second quarter of next year is probably the right time , but since the current growth data released better than expected , although the rate of inflation has been fell to a low of 4 years at 1.6 % .

 

BOE meeting this week is the first meeting since the unemployment rate down to below 7% level that is set as the limit for considering a rate hike in August last year . In February , as the unemployment rate fell faster than expected BOE , linking the central bank rate hikes bugna the number of spare capacity in the economy . Investors will focus on the current assessment of the BOE about how quickly the economy can overcome the weaknesses in the current quarterly projections released Wednesday.

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News and Review of European Economic Zone (Portugal)

 

S & P Upgrades Outlook Portugal

Friday, May 9, 2014

 

Standard & Poor's Ratings Service on Friday upgraded the outlook to stable from Portugal before the negative, referring to the performance of the economy and the state budget has exceeded expectations. The Portuguese government said earlier this week that they no longer need a bailout from international lenders and will soon be out of a 3-year funding program.

 

S & P explained that the decision was taken based on combining an assessment of Portugal's credit metrics are stabilized and reduced risks that could cause the upgrade or downgrade during the next 1 year.

 

While still holding the S & P long-term credit rating of Portugal to 'BB'.

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News and Review of European Economic Zone (UK)

 

Factory Output Growth in UK Achieves Best Quarter Since 1999

Friday, May 9, 2014

 

UK factory output grew at the fastest pace for quarterly level in nearly 15 years during the first quarter of 2014 , government data showed on Friday , reinforcing expectations that the economy began to re- balance . Office for National Statistics said that manufacturing output grew by 1.4 % in the first quarter of 2014, up from 0.9 % in within 3 months to February . This is the strongest growth rate for the quarterly period since October 2010 , and the best quarter since the third quarter of 2999 ​​, as the manufacturing sector rebounded from a sharp downturn after the financial crisis .

 

The manufacturing sector has lagged behind other sectors in the economy , and still 7.6 % below the level in the first quarter of 2008 , the overall economy's output reaches a high level . But the ONS mervisi down estimas growth for the broader industrial sector to 0.7 % from 0.8 % which has been included in the first -quarter GDP estimate released late last month . But the revision , when digabungnkan with revised quarterly increase in the output of the construction sector , will have very little impact on the overall GDP of the first quarter , the ONS said .

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News and Review of European Economic Zone (UK)

 

NIESR UK GDP Revised Up Projection

Friday, May 9, 2014

 

The UK economy will grow faster day previously forecast this year and will penetrate the peak in January 2008 and in the coming months , according to the well-known economic research agency on Friday . National Institute of Economic and Social Research ( NIESR ) estimated the economy to grow at a rate of 2.9 % this year , revised up its forecast of 2.5 % in February . NIESR also raised its forecast for growth rate in 2015 to 2.4 % from 2.1 % in February . NIESR estimates growth rates will remain at around 2.4 % in 2016 and 2017.

 

Jack Meaning , members of the research at NIESR , said the upward revision occurred because of the strong growth rate in the first quarter of this year , the recovery rate of consumption , and improving the investment outlook . The UK economy achieve a faster growth rate than expected last year , buoyed by low interest rates , benign inflation and a strong housing market . The rate of rise in UK house prices have now started to make some officials worry the Bank of England , which is under pressure to take steps to avoid bubbles in the property sector . Ni belakangani data show housing market slowed slightly in April , but house prices still at high levels . Low interest rates and government-sponsored scheme has triggered a strong recovery in the housing market slump since the financial crisis of 2008-2009 while ago , with a shortage in the supply of new homes adding upward pressure on house prices .

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News and Review of European Economic Zone

 

Draghi Pushing the Likelihood of Economic Stimulus While Recovering

Monday, May 12, 2014

 

Economic growth in the eurozone is the fastest in the last three years may not be enough to stop Mario Draghi from easing monetary policy .

 

Even with the data that is in the forecast this week will show that berakeselerasi expansion in the first quarter , the president of the European Central Bank is likely to push forward measures that can range from cutting interest rates to liquidity injections . Inflation is stuck at less than half the central bank's target for an economic revival still looks too slow , according to economists of UniCredit SpA and UBS AG .

 

"The economy is recovering thin does not seem to be much change , " said Marco Valli , chief euro zone economist at UniCredit in Milan , who expects the ECB will cut interest rate or rate of interest on deposits in June . " Samakin ECB become tolerant to low inflation .

 

Draghi is currently fighting to prevent a prolonged period of decline in price increases that have trailed the economic recovery in the euro zone before it gets rooted . Her declaration last week that officials are " comfortable " with taking action in June , this suggests that the latest policy will occur in the near future .

 

As many as three- quarters of the respondents in the latest poll by Bloomberg Markets Global Investors , which conducted a survey of traders , bankers , and financial managers who subscribe to the Bloomberg Professional service , said that deflation is a bigger threat to the region than the Euro zone inflation

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News and Review of European Economic Zone

 

Constancio : Medium-Term Inflation Projections ECB Key Step Further

Monday, May 12, 2014

 

Pemengah term inflation outlook will be a key factor when the European Central Bank next month to decide whether to take a new policy measures amid persistent inflation is weak , said vice president Vitor Constancio ECB on Monday . " We should know more after the monthly inflation data that we have these days , what will be the outlook for inflation in the medium-term path . Thing stretcher will be the main criteria for any decision of the board members , " he said on the sidelines of a banking union conference .

 

He warned that the ECB was considering a number of steps to be taken , but declined to speculate on what might be decided by the central bank at a meeting in June. He said the ECB was very concerned about the strengthening of the euro . " That is something that certainly can not and we will not ignore , but currency exchange is not and will not be the target of our policy , " he said

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News and Review of European Economic Zone

 

Nowotny: Euro Zone Banking Risk States

Monday, May 12, 2014

 

While the banking union planned by euro zone will help restore confidence in the euro zone banks, it will also lead to a number of risks such as triggering banking activities towards the shadow banking sector, according to one of the policy board of the European Central Bank on Monday. "There is a risk that tighter regulation of the banking sector may lead to important business activities and are at risk of moving into an area with less restrictive regulations, such as the shadow banking," said Ewald Nowotny on Austrian Central Bank conference on banking union. The financial crisis of 2007 and 2008 showed that the shadow banking activities may pose a risk to financial stability, he said.

 

Nowotny also warned that "competitive interference" can arise if there are differences in state custody or in implementing the policy will continue to exist. However, he added that there was an argument about "a number of levels below the level of differentiation in the euro zone" due to differences in culture and language.

 

While the ECB is prepared to serve as the sole supervisor of the banking sector, or single monitoring mechanism, for the largest banks euro zone, Nowotny said "there is a strong argument for keeping the watchdog agency separate from the ECB." "Although the ECB will be strict supervisor and appreciated, under the supervision of banks will have high confidence, and this will lead to a decrease in the uncertainty premium, "said Nowotny. ITUT It is the desire of all people if" more and more countries decided to join, "he added.

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News and Review of European Economic Zone (UK)

 

Pound Rally appears hiccup Ahead of BOE Inflation Report

Tuesday, May 13, 2014

 

Rally pound seems to be stalled before the presentation of the quarterly Inflation Report by the Governor of Bank of England tomorrow , according to analysts at Canadian Imperial Bank of Commerce and Nomura International Plc analysts . The pound depreciated from deakat highest level in 16 months against the euro today , even after an industry report showed retail sales rose unexpectedly in April . Sterling has gained as much as 1 % in the last month , the currency with the most part of the performance among 10 developed-nation currencies other .

 

" Maybe this time will be suspended sterling rally , " said Jeremy Stretch , head of currency strategist at Canadian Imperial Bank of Commerce in London . "The burden to provide evidence of a positive surprise from the perspective of sterling has increased . Sterling may be tuned Inflation Report from Mark Carney , but we can assume it has been anticipated . "

 

Report tomorrow forecast to show the British unemployment rate fell to 6.8 % in the first quarter , lower levels in more than 5 years , according to economists . Carney is also scheduled to give a presentation central bank's quarterly Inflation Report , which also includes the latest economic projections .

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News and Review of European Economic Zone

 

IMF's Lagarde : Europe Crisis Still Not Final

Tuesday, May 13, 2014

 

Europe is recovering , but the economic crisis in Europe since 2008 is still not over , says managing director of the International Monetary Fund ( IMF ) Christine Lagarde . In an interview with the German daily Handelsblatt , released on Monday , Lagarde warned that the number of companies in the southern part of Europe is still struggling to get a loan . " Recovery is underway , it is right . A number of countries have made ​​it out of the aid program . However it does not mean the crisis is over and our mission has been completed , " said Lagarde .

 

A number of countries in the euro zone , especially Greece , facing the current financial crisis that has accumulated public debt pushes up bond yields to a level that can not survive . The IMF provides assistance to save them from default . Greece , Portugal , Cyprus , and Ireland are all entered tightening program in return for aid , while Spain received funding from the European Union to save its banking sector , but managed to avoid a full bailout .

 

Lagarde warned that the low inflation rate in the euro zone today become a risk to the recovery , in line with comments from European Central Bank President Mario Draghi . He proposed that the ECB loosened monetary policy to stimulate growth , but also urged the government to adopt policies to menaikakn kompetitifitas , including structural reform of the labor market . Lagarde also warned that the current crisis in Ukraine , in which loans worth 17 billion dollars has been approved by the Fund , posing risks for global growth . He said it is difficult to predict the outcome of the crisis and what might be spread by the crisis to other countries . " But the crisis in Ukraine could lead to serious economic consequences " .

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News and Review of European Economic Zone (Germany)

 

German Investors Increasingly Pessimistic on the Economy

Tuesday, May 13, 2014

 

German investor confidence fell for the fifth month in the month of May in the signal increasing concern that the threat of inflation to low levels of the euro could hinder recovery . The ZEW Center for European Economic Research in Mannheim said its index of investor and analyst expectations hers , which aims to predict economic developments six months ahead , fell to 33.1 from 43.2 in April . Economists forecast a decline to 40 . Gauge has scored a monthly decline since hitting a high of 7 years on 62 December last .

 

Anxiety investors in the largest economy of Europe expresses concern that the slowing recovery in the euro zone makes Germany vulnerable to shocks . European Central Bank President Mario Draghi has signaled that he may be launching additional monetary stimulus in early June as central bank officials " not satisfied " with the inflation outlook , partly also due to the strengthening of the euro .

 

" For several months there was a lot of negative news from the problems in developing countries to strengthen the euro , " said Andreas Scheuerle , an economist at Dekabank in Frankfurt . " ZEW expectations could signal a turning point in the growth rate of GDP , so we will estimate a lower growth rate in the next quarter . "

 

Bundesbank said last month that the expansion of the German economy will slow this quarter after a strong start this year . Industrial output fell unexpectedly in March , and the service sector and manufacturing slowed in April . Gross domestic product is expected to grow 0.7 % in the first quarter , according to economists before the data is released on 15 May.

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News and Review of European Economic Zone

 

Euro Look Stable

Wednesday, May 14, 2014

 

The euro was steady against the dollar on Wednesday and recovering from a 16-month low against the British pound after the Bank of England dampen expectations of monetary tightening in the near future . The euro was also helped by continuous purchases by Asian central banks , which have actively intervened to limit the strengthening of their currencies . Actions recycling of foreign exchange reserves by the central bank of South Korea and China have sustained the euro despite growing expectations of interest rate cuts .

 

Tuesday , the euro was pressured by media reports that Bundesbank is ready to support a number of policy stimulus to the economy if the euro zone European Central Bank's inflation projection menmangkas next week . It reinforces expectations of policy easing by the ECB next month and dragging the euro fell to a 2 -month low against the yen and touched a 16 -month low against the pound in early European session . On Wednesday , Reuters quoted one of the sources said the ECB is preparing a package of policy options for the meeting in June , including all cut interest rates and fatherly policies designed to encourage lending rate for small and medium-sized enterprises .

 

" The market is generally ' long euro ' , are susceptible to a sell-off - except for investors who think the euro weakened only to rebound back , " said Marshall Gittler , chief global currency strategist at IronFX . " On the other hand , not many investors are willing to buy the euro at a low level , with the hope of a change in sentiment ECB . "

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News and Review of European Economic Zone (France)

 

French Inflation Stable In April

Wednesday, May 14, 2014

 

Inflationary or Insee reported French consumer price index stabilized in April from March, a decrease in energy and food prices, offsetting the increase in the price of other goods.

 

The consumer price index in April was released at 0.0% or no change from the previous month. This figure reflects a slowing of inflation in March after rising by 0.4%. When compared to the previous year, inflation rose 0.7% in April, up from March when it rose 0.6%.

 

The Insee report confirms indications from the European Central Bank is preparing measures to cope with low inflation in the next month, with a possible option rate cuts or monetary stimulus measures other. Eurozone inflation in April was 0.7%, well below the ECB's target of 2.0%

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News and Review of European Economic Zone (UK)

 

Being British Unemployment Rate Dropped 6.8 % In Q1

Wednesday, May 14, 2014

 

The unemployment rate in the UK fell to its lowest level in five years in the first quarter period , the conditions intensify the debate over when the Bank of England should start Rev interest rates .

 

The unemployment rate is measured by the method of the International Labour Organization ( ILO ) decreased to 6.8 % from 6.9 % in the period up to February, in the report by the Office for National Statistics in London . This figure is in line with the median estimate in a Bloomberg survey . Figures today also showed wage growth exceeded inflation for the first time since 2010 .

 

Bank of England Governor Mark Carney will present the latest economic forecast today amid speculation that policy makers will Rev benchmark rate at the current level of 0.5 % at the end of the year . Unemployment rate falls below 7 % in February , has canceled the first phase of the forward guidance Carney . Policy makers have pledged to refrain from rising borrowing costs until the economic downturn has been completed .

 

" Interest rates are at record lows have increased uncertainty , " said Rob Wood , an economist at Berenberg Bank in London and a former Bank of England official . The central bank today will " quietly to accept a rate hike sooner than they think in three months ago . "

 

Jobless claims , which is the smallest size of unemployment , fell as much as 25,100 in April , less than forecasts for a decline of 30,000 in a Bloomberg survey .

 

In the first three-month period this year , the number of workers rose as much as 283,000 , to a record 30.4 million . It was the biggest gain since records began in 1971. For entrepreneurial sector also survive at record highs .

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News and Review of European Economic Zone

 

EURUSD Respond to Negative Inflation Data

Thursday, May 15, 2014

 

The Euro vs. the U.S. Dollar collapses to a reported rate of 1.3658 after weak euro zone GDP , plus reports that CPI inflation dropped again below forecasts .

 

Newspaper in Spain reported that the ECB will cut interest rates deposit of -25 basis points , fueling speculation investors on ECB rate cut in June , especially after getting the rate of GDP , weaker -than-expected CPI .

 

The rate of Q1 GDP slipped to 0.2 % below the forecast 0.4 % , as German growth gap with other European regions is increasing. The rate of German GDP forecast to rise above 0.8 % , but GDP is not the case with other member countries in the region so as to provide pressure for the ECB to disburse further stimulus .

 

Euro zone inflation report is also very weak at 0.7 % , well below the ECB's target at 2.0 % , with the inflation level that almost touch the probability of deflation territory ECB took action in June is getting bigger , eventually pairing EURUSD started to discount these opportunities .

 

After being traded flat before the data was released , eventually pairing EURUSD plunged -0.43 % to 1.3655 , increasing away from intraday high at 1.3722 . Further weakness based on Fibonacci technical levels are still potential drill targets 1.3615 , before heading to 1.3555 key support level

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News and Review of European Economic Zone (France)

 

French Economy Stagnant in First Quarter

Thursday, May 15, 2014

 

The low consumer spending and a reduction in investment companies make the French economy stagnated in the first quarter of this year, gives an overview of the Eurozone's economic recovery is still weak and vulnerable. Insee reported in the three months to March the French economy failed to grow (0%) from the previous quarter grew 0.2%. Economists had memprediski French economy will grow by 0.1%.

 

France accounts for about 20% of total Eurozone gross domestic product, so the report is often used as a barometer of economic kehesatan the bloc of 18 countries. Investment in non-financial companies reported down 0.5%, and consumer spending also declined 0.5%.

 

Eurozone out of resisi length in the second quarter of last year, but the economy still looks strong and has not been running slow recovery, the unemployment rate is still near record highs.

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News and Review of European Economic Zone (Germany)

 

German Economic Growth Higher First Quarter Of Estimates

Thursday, May 15, 2014

 

Ekselerasi German economic growth in the first quarter faster than economists estimated , provide fresh air for the euro zone after France reported stagnant economic growth .

 

Germany is the largest economy in Europe , and became a key sustaining economic recovery of the country's 18 blocks long recession . But Germany's economic growth is expected to slow down by the Bundesbank , despite fundamental data still showed growth in the second quarter . German Bundesbank expects the economy will grow by 1.7 % this year and 2 % in 2015m with an average inflation of 1.3 % this year and 1.5 % in 2015.

 

Destatis reported German gross domestic product in the first quarter was 0.8 % higher than economists' forecasts of 0.7 % , and from the previous quarter grew 0.4 % . Household spending and government spending was reported to be sustaining economic growth in Germany in the first quarter Besides investments in the sector and the machine constructs were also reported increases .

 

France previously reported stagnant economic growth ( 0 % ) , while the earlier economists provide an estimate of 0.1 % growth . Belajan consumer and investment in France declined due to government budget cuts and tax increases

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News and Review of European Economic Zone (Portugal)

 

Portugal Promises More Reforms

Friday, May 16, 2014

 

Pedro Passos Coelho Prime Minister promises more reform ahead of the Portugal bailout program tomorrow . CNBC , express Coelho Portugal has undergone 3 years of bitterness since received a 78 billion euro bailout fund , but Portugal will not run backwards . Portugal is one of the victims of the euro - zone debt crisis that finally forced to ask for financial aid from the EU and IMF .

 

Portugal has a policy of budget cuts and economic reforms in an effort to meet the bailout program . Starting tomorrow , Portugal does not need to do whatever is required by the IMF and the euro zone . This has raised fears that Portugal will loosen commitment to reform , especially ahead of elections . However, Coelho of Portugal asserted that the people understand the need for continued reform . " We have sacrificed a lot in the last three years . Nobody who wants to destroy the people of the sacrifices that have been made ​​. We will continue to improve confidence in the financial markets and also the people . We are now on the path to creating sustainable economic growth , " said Prime Minister Pedro Passos Coelho of Portugal .

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News and Review of European Economic Zone

 

The rate of car sales in the EU slows

Friday, May 16, 2014

 

Recovery in the EU car sales continued in April , although the pace slowed from the previous month's sales . Association of European Car Manufacturers said the registration of new vehicles , which reflect car sales by dealers , increased by 4.6 % to 1.09 million vehicles from the same period the previous year . The figure is lower than the increase in the previous month by 11 % .

 

The slowdown in April said as the holiday effect , which makes car sales in Germany fell by 3.6 % . Germany is Europe's largest automotive market , and become the only major auto market countries in the EU which posted a decline .

 

Sales of Renault SA recorded a significant rise in April by 9.4 % . Volkswagen AG , Europe's largest automaker by revenue , rose 4.4 % . Sale of Opel , owned by General Motors , up 8.1 % , with a market share of 6.8 % in the four months ended April.

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News and Review of European Economic Zone

 

Eurozone trade surplus narrows in March

Friday, May 16, 2014

 

Eurozone trade surplus narrowed in March compared with a year ago , as the decline in the export and import sector for the first time since the end of 2013 . Data released by statistical office of the European Union on Friday also showed that even before the euro zone and tension between Russia increased due to the takeover of the Crimea from Ukraine in March , trade flows have gone down sharply .

 

Eurostat said that the euro zone 's trade surplus reached 17.1 billion euros ( 23.4 billion dollars ) , down from 21.9 billion euros in March 2013 . Eurostat raised its projection of the surplus in February to 14.2 billion dollars from 13.6 billion dollars . In a seasonal basis , the level of exports fell by 0.5 % from February , while the level of imports fell as much as 0.6 % to produce a surplus of 15.2 billion dollars , slightly up for the monthly rate . Eurostat on Thursday said growth in the euro zone was unchanged at an annual rate of 0.8 % in the first quarter of this year , which is equal to the rate of growth of 0.2 % from quarter to quarter . It remains unclear what is holding the euro zone economy in the first quarter , although the trade sector data for the first quarter showed that weak domestic demand has hampered recovery .

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News and Review of European Economic Zone (UK)

 

Sterling Gains in Early Week

Monday, May 19, 2014

 

Although the weekend had gained two consecutive days against the dollar , but sterling remains registered a decline in two weeks in a row , after statement burdened Bank of England Governor , Mark Carney . At the beginning of the week the Asian session today , sterling looks to bounce back , investors' focus is currently focused on the UK inflation data to be released tomorrow .

 

Last week sterling fell as a result Carney statement , which confirms the BOE will not raise interest rates within the next year . Carney also said that in the last three months of capacity that can be utilized in the economy " slightly reduced " but there is still room to reduce slack in the economy prior to start raising interest rates .

 

Office for National Statistics will release inflation data tomorrow England in April , which is expected to rise to 1.7 % from 1.6% the previous month . Estimates of the increase in inflation will preserve eskpetasi rate hike by the BOE .

 

GBPUSD is currently trading up 0.1 % in the range of 1.6828 .