On 16th February preliminary data on Japanese economic growth was published. Final quarter GDP grew less than the market expected: by 0.6% in comparison with Q3 and by 2.2% for the year. The figures were worse than expected: consumer spending as part of GDP grew by 0.3%, whilst business spending grew by only 0.1%. The market reaction to the indicators was quite weak.
It’s worth considering the release of Eurozone external trade statistics. On 16th February there was a meeting in which fierce debates about Greece continued. Euro/dollar trading is within a narrow range and the results of the meeting are likely to give impetus for the currencies’ movement.
The main event of the week is the US Fed’s publishing of its January session’s protocols, due to take place on Wednesday. A ton of announcements could give investors information relating to the American regulator’s future political plans and its view of the current situation.
The Russian ruble began trading on a positive note based on the outcome of the Minsk negotiations and increasing oil prices. Nervousness on the market remains due to uncertainty of whether the hard-fought agreements of the negotiations will be observed. Nevertheless, any positive is now very important and will aid the ruble’s continuing revival. At the moment of writing this review, the dollar has lost 93 kopecks and costs 62.57 rubles. The euro has cheapened by 1.04 rubles and now stands at 71.32 rubles.