EUR Hopes to Gain Momentum

With the Japanese Yen data values releasing this week, there is an increase in the Japanese trade deficit to JPY 1,086.9 billion in January. The export of goods and services came at the rate of 1.3% versus the expected rate at 4.7%. The import of goods and services came at the rate of 8.5% versus the expected rate at 4.7%. These Real Effective Exchange Rate data values were published by the Bank for International Settlement.

The United States FOMC Member Mester made a statement about the Central Bank cutting off mortgage bonds in a slow and phased manner. Also, it made it clear that the productivity of the United States would not be totally resolved with the monetary policy.

The other interesting news for the day includes the Producer Price Index giving a missed signal as (Y o Y) at the rate of 1.9% versus the expected rate at 1% but the (M o M) came at the rate  of 0.2% versus the expected rate at 0.4%. The German Chancellor Angela Merkel stated that the Euro’s performance was much lower than Germany’s and added that Berlin had no power to address this issue because the monetary policy was set up by the European Central Bank.

The Wholesale Prices released by Canada shows the value of sales giving a result of 0.2% last month and continues to remain the same. The Consumer Confidence released by the European Commission saw a rate of 4.7% last month versus the expected rate of 4.85%. The data values are much better than the last month report and the Euro hopes to gain some momentum.