In July they have advanced slightly by 0

While the US economy multiplies the signs of slowing down, markets responded positively to the release of the producer price index in the United States, to grow less than expected. In July, they have advanced slightly by 0.1 in June, sales less than 0.4 of increase expected by analysts. Best production excluding food and energy prices even fell 0.3. First decline since October, then the operators projected a modest increase. A week after the decision of the reserve Federal American do not raise rates, these indicators have reassured investors in equity markets, while public debt securities traded at lower rates.

But the trend of the past may be temporary, according to several experts. "The production price index has little weight on the consumer price index," said James Knightley of ING Financial Markets. "Excluding energy costs, the consumer price should reach a level never equalled since ten years in terms of inflation", he added.

Relaxation bond

In any event, in the bond market, the purchase of 2-year US Treasury it is relaxed 7 of 4,931 points, like that of 10 years, 4,919. In Europe also, the main awards of the public debt have benefited from sketched transatlantic context. The French OAT 10 years thus fell by 4 basis points to 3,980. In 10 years the German Federal State loan rate experienced the same evolution, down 3 points, to 3,963.

In the euro area, the announcement of a lull on the front of the US inflation is accompanied by short-term opportunities interviews Monday with an increase of 0.9 of the production of the euro in the second quarter. Economists on average projected rate of 0.8, after 0.6 in the first quarter. On a year, growth is accelerated to 2.4, a now very close rate of that observed in the United States ( 2.5 in the second quarter).

Deflects the yuan against the dollar

With industrial production rose by 16.7 in July on an annual basis, the Chinese economy continues to move at high speed. Yet, its currency, the yuan, loses ground to the dollar. For the first time since nearly a month, he went over the threshold of 8 Yuan for a dollar, to 8,0015. Experts explain this by better control and flexibility on the part of the monetary authorities of Beijing exchange markets.

As the euro, continued its advance against the greenback, 1,2783 dollar with a tip to 1,2804. However, the single currency has lost ground against the yen, on a technical correction movement. Thus, the euro gave 0.10 to 148,29 yen, found his average parity of the last few months.

More cautious than the French and German markets, the English market place carefully evolved in the green. Today, the British investors are waiting for the publication of the minutes of the meeting of the Bank of England 2 and August 3. On this occasion, the monetary authorities of revel had created the surprise in 25 basis points to 4.75 interest rates. Yesterday, in agreement with the predictions of most analysts, the United Kingdom consumer price index increased by 2.4 in July on an annual basis, a step which takes account of the upward trend in price the energy.