Eurozone economy is growing the slowest pace since the end of the recession

Eurozone economy is growing the slowest pace since the end of the recession, as business and consumer confidence waned and stock prices fell, according to the measure of activity compiled by the Centre for Economic Policy Research (CEPR) and Bank of Italy. CEPR and Bank of Italy on Friday said that their indicator of economic activity fell Eurocoin to 0.03% from 0.22% in August, dropping the fourth consecutive month. It was the lowest level since August 2009.
Eurocoin indicator designed to assess the gross domestic product growth from quarter to quarter, with the exception of unstable components, such as seasonal fluctuations and short-term volatility.
"The decline mainly reflected trends in stock prices and growing pessimism on the results of surveys of consumers and businesses," - said the Bank of Italy and CEPR.

Euro / Pound. Comments dealers, Foreign Exchange Market

Euro / pound in European trading is under pressure. At the moment the couple kept in stg0.8680. As noted by one of the dealers, the level of stg0.8675 strike has now expiring option. Market participants believe that the end of the month associated with the payment of the EU the UK will take place during the fixing the ECB. However, the expected strong demand for euro / pound by the Bundesbank, as well as active selling the pound to the dollar model accounts. Interest in buying a pair of felt stg0.8670/60, and then to stg0.8650. The breakthrough of this level may open the way to move toward stg0.8640/30. The nearest resistance is a pair of runs on stg0.8740, and then at the 100-day moving average at stg0.8795. The current euro / pound stg0.8677.

Data on retail sales in Germany did not add optimism

The single European currency once again managed to find support near $ 1.3520, and against the background of the profit is adjusted higher. However, near the $ 1.3565 the bears became more active, and the publication of a weak report on retail sales in Germany has provoked a new wave of sales, resulting in the pair is trading now around $ 1.3535. Dealers say that while the bulls keep a stiff upper lip, but a break below $ 1.3520 threatens to turn into a more active falling euro / dollar, and they warn that such an event would entail the development of lower to $ 1.3500 and $ 1.3480, while below the last mark will have another series of pretty good stops. Ofer now appear in the $ 1.3550/60, further orders are placed on the Bears $ 1.3580, larger - on $ 1.3595/05 with stops above. Source: Forexpf.Ru

Asia Stock chose the red zone

During today's trading stock index Asia-Pacific region fell for the first four sessions and complete the quarter the most significant decline for almost 3 years, reported Bloomberg. Statistical data from the U.S. not calmed investors' fears concerning the threat of recession, world's largest economy.

Composite stock index MSCI Asia Pacific region fell by 0.5% - to 113.56 points. Since the beginning of the week indicator gained 1.7%. Japan's Nikkei 225 fell 0.5%, South Korea's Kospi - 1.2%, Hong Kong's Hang Seng - by 2.1%.

Stock quotes a Hong Kong company Li & Fung Ltd., A supplier of clothing and toys to retailers in the world, including Wal-Mart, have fallen by 5.1% due to fears of demand reduction.

Paper concern the world's leading automotive Japanese Toyota Motor Corp. fell 0.9%.

Samsung Electronics Co. reduced the capitalization of 1.9%.

Price of securities of the second-largest oil company Australian Woodside Petroleum Ltd. increased by 0.8% following the increase in oil prices.

Since the beginning of the month MSCI Asia Pacific has fallen off by 9.1%, bringing the decline this quarter, up 16% - a maximum of three months ended in December 2008, in the midst of a global crisis. In selected markets in the region is a quarterly decline of 11% to 21%.