Yen widely on Friday, after comments recently released from Japanese Finance Minister on the sharp decline in the currency, while the euro remained weak after comments European Central Bank President Mario Draghi said on Thursday.
The yen rose against the dollar and the euro are two dimensions, said Finance Minister Taro Aso said the dollar suddenly rose to a level of 90 against the yen in an unexpected way. ”
The comments sparked. Doubts about whether makes government rested for the recent sharp decline in the yen, while it looked likely that the currency remains under pressure amid expectations monetary easing measures more severe.
The dollar / yen lower price on Friday 92.17 before settling back to 92.71, shedding 0.99% on the day, while the decline in the yen / euro by 0.59% to its lowest level of the session to record 123.44 before settling at 123.92, down 1.22% on the day and by 0.48% over the week.
Euro extended losses for a second day on Friday after the European Central Bank President Mario Draghi he will be watching closely the developments in the market to see if rising euro will affect inflation expectations.
Draghi said the recent rise in the single currency reflects increasing signs of the return of investor confidence in the euro zone, and added that the exchange rate is not a political objective.
Speaking of the bank after a policy meeting at the press conference, Draghi said that the economic weakness in the euro area will continue through the first part of 2013, but said the economy will begin to restore recovery later this year.
European Central Bank left interest rates at 0.75% on Thursday, in line with market expectations.
EUR / USD hit its lowest price of the session 1.3354 on Friday, 1.3369 before settling down by 0.22% for the day and low 1.06% for the week.
The pound rose against the dollar and the euro on Friday after comments enshrine the Bank of England Carney, who discounted the possibility of a significant change in the current monetary policy.
The governor of the Bank of England that interest rates will remain unchanged at 0.5% on Thursday, and he is still willing to provide more stimulus if necessary.
GBP / USD hit 1.5844 the highest price on Friday before settling at 1.5798, gaining 0.54% for the day and the highest rate of 0.26% for the week. Elsewhere, EUR / GBP to session low of 0.8447 before settling back at 0.8462, shedding 0.76% for the day and down 1.32% for the week.
This week, investors awaited U.S. data on retail sales and consumer confidence, in addition to the euro zone data on growth in the fourth quarter and UK data on consumer prices. In addition to the results of the meeting Bank of Japan policy on Thursday.
Monday, February 11
Remaining markets in Japan and China are closed for national holidays.
In the euro zone, France will publish official data on industrial production. In addition, it will set euro zone finance ministers to hold talks in Brussels.
Tuesday, February 12
Australia will publish data on business confidence, while remaining markets in China are closed for a national holiday.
The UK is to publish official data on consumer prices, which explains the majority of overall inflation as well as industry data on house prices.
Switzerland will also publish government data on consumer price inflation.
In the euro zone, will hold talks on economic and financial affairs in Brussels.
Later in the day, the United States will publish data on the federal budget.
Wednesday, February 13
Australia will publish a report on consumer sentiment, a leading indicator of consumer spending. Japan will also publish data on activity in the service industry, a leading indicator of economic health. Elsewhere, markets in China remain closed for a national holiday.
Switzerland is to publish official data on producer prices, a leading indicator of consumer inflation. The euro zone is to publish data on industrial production.
In the UK, the Bank of England will publish quarterly inflation report, which includes inflation expectations over the next two years. Data follows a joint press conference with Bank of England Governor Mervyn King.
Later in the day, the United States will publish official data on retail sales, the primary gauge of consumer spending, which accounts for the majority of overall economic activity. As the United States will also publish data on import prices, business inventories and crude oil stockpiles.
Thursday, February 14
Japan is to publish preliminary data on gross domestic product (GDP) in the fourth quarter total, the broadest indicator of economic activity and pilot scale in the field of the economy’s health.
The Bank of Japan will announce interest rate. Accompanied by the bank’s rate statement, which contains important information about the current economic situation and future of the bank’s point of view. The central bank will also hold a press conference to discuss the decision after the announcement of monetary policy interest rate.
Markets in China remain closed for a national holiday.
The euro zone is to publish preliminary data on growth in the fourth quarter, while Germany will, France and Italy also preached individual reports. As the European Central Bank will prepare a monthly newsletter, which details economic conditions from the point of view of the bank. In addition, Italy and France will conduct auctions of government bonds with 10 years.
The United States will publish the weekly government report on initial jobless claims.
Later the same day, the New Zealand is to publish official data on retail sales, the primary gauge of consumer spending, which accounts for the majority of overall economic activity.
Friday, February 15
China’s markets remain closed for a national holiday.
The euro zone is to publish data on its trade balance, while Spain will conduct an auction of government bonds with 10 years.
The UK is to publish government data on retail sales.
Canada will publish official data on manufacturing sales, a leading indicator of economic health.
The United States will besiege week with data on manufacturing activity in the state of New York and industrial production, while the University of Michigan will publish preliminary data on consumer confidence and inflation expectations.