Analysis of the American trading session

During the American session on Thursday, January 11, 2013, the US dollar fell against the major market currencies. The main pressure on the US currency was provided by weak statistics on the US.

• The producer price index in December fell by -0.1%, against the previous value of 0.4%. On an annualized basis, the growth rate was 2.6%, against the previous value of 3.1%.
• The basic producer price index fell by -0.1%, which is lower than the previous value of 0.3%. On an annualized basis, the growth slowed to 2.3%, down from the previous figure of 2.4%.
• The number of applications for unemployment benefits was 261 thousand, exceeding the previous figure of 250 thousand.

The single currency rose significantly against the US dollar in the US trading. The main catalyst for the growth of the euro was the publication of the minutes of the ECB meeting in December. The protocol dealt with change of the ECB positions in early 2018, which investors saw as a signal of a possible earlier curtailment of the QE program.

Alexander Sivtsov