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DAILY ANALYSIS for 24.03, 2014

Asian and European trading sessions:

Euro: The euro rose against the dollar on strong data on private sector activity in France and then fell sharply on unfulfilled forecasts to data on business activity in the euro zone and Germany. French private sector returned to growth in March for the first time since last October, revealed on Monday showed preliminary surveys conducted Markit Economics. Composite activity index rose to 51.6 from 47.9 in February. Score above 50 indicated expansion, and the last reading indicated the fastest growth in 31 months. Expansion was broad-based and in the service sector and in manufacturing. The index of activity in services rose to 51.4, a 26- month high, from 47.2 in February. Index, as expected, had to grow to 47.9. In addition, the PMI index for the manufacturing sector has improved more than expected to 51.9, a 33- month high, from 49.7 in the previous month. The index was projected to grow to 49.8.

Private sector growth was slowed in Germany in March from 33 -month high, but growth remained markedly high on Monday showed preliminary data from surveys conducted in the Markit Economics. Composite activity index fell to 55.0 from February's 33 -month high of 56.4. Weakening growth in business activity was broad-based, while both indices - for producers and service providers showed weaker growth than seen in February. Preliminary index of service sector activity fell more than expected to 54.0 from 55.9 in February. It was predicted that the index would remain at 55.9. Furthermore, preliminary manufacturing PMI 53.8 compared to 54.8 in February and below the expected reading of 54.7.

Eurozone economy expanded ninth consecutive month in March, but the growth rate slowed slightly by data showed on Monday, Markit Economics. Consolidated activity index was 53.2 in March. Result was slightly lower than achieved in February of this year a 32- month high of 53.3 and above the expected level of 53.1. The index remaind above the neutral mark of 50 indicated an increase in private sector activity. Preliminary PMI in service sector fell to 52.4 from 52.6 in February, while it, according to expectations, had to remain at the level of 52.6. In addition, the manufacturing PMI fell to 53.0 from 53.2 in February. It was expected that the index will also remain unchanged at the February level. The EUR / USD pair rose to $ 1.3828, but then fell to $ 1.3758 during the European session.

Japanese Yen: The yen fell against the euro and the U.S. dollar in anticipation of the speech of Vice - President of the Bank of Japan Kikuo Iwata. The market expected the banker hints at a possible increase incentive programs from the Bank of Japan to ease the negative impact on the economy, as well as the planned increase of the sales tax, which should enter into force as early as next week.

Australian dollar: The Australian dollar rose after ratings agency Fitch announced its decision to leave Australia at the same rating at AAA with a stable outlook, as the country has managed to maintain stability to external shocks due to " the presence of a strong economic and institutional foundations, including the highly advanced and flexible economy, and reliable policies and effective political and social institutions.”

American trading session:

U.S. Dollar: The dollar fell this session. Impacted on the dynamics of the “greenback” U.S. data, as well as statements by the Fed. As it became known, the index of business activity in the U.S. industry from Markit in March, according to preliminary data, was down to 55.5. Preliminary data include approximately 85% of the respondents' answers. The business activity index fell to 45 -month high, but growth continues. The growth rate was only slightly lower than the three-year high, which the index reached in February. Manufacturers say that the higher level of output due to an increase in new orders, and the desire to reduce the backlog. Companies began to overcome deceleration caused by weather conditions in the winter. The growth rate of export orders decreased but continues for the second month in a row.

Meanwhile, the president of the Federal Reserve Bank of San Francisco John Williams said that the Fed last week did not make assumptions about what the Fed will start raising rates earlier than expected. Investors appreciated earlier comments from Fed Chairman Janet Iellen on Monday that the first rate hike could begin six months after the completion of the redemption of bonds as a "hard" . Williams said that such expectations were on the market, and he sees nothing that would indicate intention to tighten monetary policy sooner than expected. Williams called regarded as a "signal of tightening policy" simply a response to a comment recently yield stronger -than-expected unemployment data.

Gold: Gold prices fell markedly today, reaching with one-month low, which was associated with increased expectations about rising interest rates in the U.S. in early 2015. The cost of the April gold futures dropped to $ 1312.50 per ounce on the COMEX today.

Oil: Oil prices fell slightly today, which was associated with the release of weak Chinese data indicating that the decline in demand in the world's largest oil-consuming economy. Meanwhile, the support prices have the possibility of breaking oil supplies in connection with the Ukrainian crisis and the turmoil in Libya. May futures for U.S. light crude oil WTI fell to $ 99.46 a barrel on the New York Mercantile Exchange.