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Message: [QUOTE="MasterForex Broker, post: 50248, member: 16067"] [size=2][b]Overview of the main economical events of the current day - 15/08/2013[/b] [color="#4169E1"][b]Euro-Zone Economy Comes Out of Recession[/b][/color][/size] According to the official statistics agency ЕС Eurostat data released on Wednesday the euro-zone economy is coming out of the longest post-war recession. The euro-zone GDP growth recovered in the second quarter of this year after its decline within 6 quarters. Total GDP of 17 euro-zone countries grew by 0.3% in comparison with the first quarter, which exceeded the expected growth by 0.2%. Almost all the statistics data released recently in the region indicated euro-zone economic recovery. [center][B]Quarterly GDP growth of the Euro-zone and the USA[/B] [IMG]http://masterforex.com/useruploads/images/aug_eu-us_gdp.gif[/IMG][/center] Euro-zone economy has risen mainly due to good German and French indicators. Two largest euro-zone economies showed a more significant rise last quarter than expected. German GDP grew by 0.7% Vs consensus +0.6%. French economy increased by 0.5%, which has exceeded expected growth by 0.2% even more. The euro had almost no reaction towards positive statistics and it was traded in a narrow range all day. The pound grew considerably on Wednesday after the release of positive labor market report and BoE Meeting Minutes. Claimant Count Change dropped by 29.2 thousand in July while a decrease only by 15 thousand was expected. Prior month data were also revised fore the better. Unemployment rate had been falling for nine months in a row last month, in June and July it had been especially significant since March, 2010, which has become another proof of a strengthened British economic recovery. Claimant Count Rate last month dropped by 0.1% to its low 4.3% since February, 2009 while no changes were expected. According to the end of the second quarter ILO Unemployment Rate maintained at 7.8%, which coincided with the expectations. Bank of England Meeting Minutes showed a unanimous vote on the rate and the QE size but one of the MPC members Martin Weale opposed the policy of providing Forward Guidance concerning the monetary policy outlook as he had a hard-line attitude towards inflation. The dollar turned out under pressure on Wednesday due to unexpected drop of Producer Price Index which didn’t meet the forecast. Producer Price Index published on Wednesday didn’t change last month although its growth by 0.3% m/m was expected. Core Producer Price Index which excludes volatile components (energy and food) also has risen only by 0.1% m/m Vs 0.2% growth Consensus. FOMC Member Bullard making speech on Wednesday evening referred to low inflation and said that FOMC outlook seemed to be too optimistic. Fed needs to analyze a lot of information before taking a decision concerning asset purchase tapering off. Besides, according to him, key factors concerning QE issue will be inflation data, GDP, employment and FED balance. All this seems to put off the terms of possible QE reduction from September to October as far as the Fed will have too little reliable information about the third quarter. New Zealand dollar rose on Wednesday after the release of a positive retail sales report for the second quarter which showed sales growth by 1.7% at a quarterly rate, which exceeded the expected growth by 1.4%. The Australian dollar also strengthened amid consumer sentiment increase. Westpac Consumer Sentiment rose by 3.5% in August to 105.7 Vs 102.1 prior month. [/QUOTE]

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