15, March 2013

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

According to Jens Weidmann, Bundesbank president, preventions the euro/dollar keeps weakening. According to him - the crisis is far from over.

The main factor or reason for the weakening of the pair at this stage was the information on retail sales in the U.S.. They were much stronger than it was expected and helped those who believed that the U.S. consumer, in recent times, became positive.

Let's note that the total volume of retail sales increased at 1.1% against expected 0.5%. That happened due to gas prices, but if you remove the Auto and Gas, an increase is 0.4% against expected 0.2%.

According to these data, we can say that the U.S. economic growth is in order, but this is not enough for the Fed began to worry.

Nasdaq and S & P are up to 0.08% and 0.16% respectively, while in Europe only DAX was able to close the day in profit by 0.6%, while the FTSE was down by 0.44%, and the Milan stock fell 1.74%. 0.1% below the closed CAC, Spain's stock fell 0.4%.