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05.08.2015 12:12

Foreign exchange market. European session: the euro traded higher against the U.S. dollar after the mixed economic data from the Eurozone

Economic calendar (GMT0):

(Time/ Region/ Event/ Period/ Previous/ Forecast/ Actual)

01:45 China Markit/Caixin Services PMI July 51.8 53.8

07:15 Switzerland Consumer Price Index (YoY) July -1.0% -1.1% -1.3%

07:15 Switzerland Consumer Price Index (MoM) July 0.1% -0.4% -0.6%

07:50 France Services PMI (Finally) July 54.1 52 52

07:55 Germany Services PMI (Finally) July 53.8 53.7 53.8

08:00 Eurozone Services PMI (Finally) July 54.4 53.8 54

08:30 United Kingdom Purchasing Manager Index Services July 58.5 58 57.4

09:00 Eurozone Retail Sales (MoM) June 0.1% Revised From 0.2% -0.3% -0.6%

09:00 Eurozone Retail Sales (YoY) June 2.6% Revised From 2.4% 1.9% 1.2%

11:00 U.S. MBA Mortgage Applications July 0.8% 4.7%

The U.S. dollar traded mixed to lower against the most major currencies ahead of the U.S. economic data. According to the ADP employment report, the U.S. economy is expected to add 215,000 jobs.

The U.S. trade deficit is expected to widen to $42.8 billion in June from $41.87 billion in May.

The ISM non-manufacturing purchasing managers' index is expected to rise to 56.2 in July from 56.0 in June.

The euro traded higher against the U.S. dollar after the mixed economic data from the Eurozone. Retail sales in the Eurozone dropped 0.6% in June, missing expectations for a 0.3% fall, after a 0.1% increase in May. May's figure was revised down from a 0.2% rise.

The increase was driven by lower food, drinks and tobacco and non-food sales. Food, drinks and tobacco sales declined 0.8% in June, while non-food sales decreased 0.2% in May.

Gasoline sales were flat in June.

On a yearly basis, retail sales in the Eurozone rose 1.2% in June, missing forecasts of a 1.9% gain, after a 2.6% increase in May. May's figure was revised up from a 2.4% rise.

The annual rise was driven by non-food sales, gasoline sales, and food, drinks and tobacco and non-food sales.

Non-food sales gained 2.3% in June, gasoline sales increased 1.8%, while food, drinks and tobacco sales rose 0.1%.

Eurozone's final services purchasing managers' index (PMI) decreased to 54.0 in July from 54.4 in June, up from the preliminary reading of 53.8.

The index was driven by rises in new business and employment.

Eurozone's final composite output index fell to 53.9 in July from 54.2 in June, up from the preliminary reading of 53.7.

"The Eurozone economy showed reassuring resilience in the face of the Greek debt crisis in July. Despite a record deterioration in Greek business conditions amid extended bank closures, the overall pace of economic growth across the region barely slowed from June's four-year high," Chief Economist at Markit Chris Williamson said.

He added that Eurozone's GDP expanded 0.4% in the second quarter, according to the recent data.

Germany's final services purchasing managers' index (PMI) remained unchanged at 53.8 in July, up from the preliminary reading of 53.7.

The index was driven by rises in business activity and new orders.

France's final services purchasing managers' index (PMI) dropped to 52.0 in July from 54.1 in June, in line with the preliminary reading.

The decline was partly driven by a weaker rise in incoming new business.

The British pound traded higher against the U.S. dollar despite the weaker-than-expected the services PMI from the U.K. Markit's and the Chartered Institute of Purchasing & Supply's services purchasing managers' index (PMI) for the U.K. fell to 57.4 in July from 58.5 in June, missing expectations for a decline to 58.0.

A reading above 50 indicates expansion in the sector.

The decline was partly driven by a slower growth in employment.

"A deterioration in service sector growth is the latest in a stream of signals that the economy has slowed as we move into the second half of the year. The fall in the services PMI follows signs of ongoing weakness in manufacturing and a renewed slowing in the construction sector," the Chief Economist at Markit Chris Williamson said.

The Canadian dollar traded higher against the U.S. dollar ahead of the release of the Canadian trade data. The Canadian trade deficit is expected to narrow to C$2.8 billion in June from C$3.34 billion in May.

The Swiss franc traded mixed against the U.S. dollar after the weaker-than-expected consumer price inflation data from Switzerland. Switzerland's consumer price index declined 0.6% in July, missing expectations for a 0.4% decrease, after a 0.1% rise in June.

On a yearly basis, Switzerland's consumer price index decreased to -1.3% in July from -1.0% in June, missing forecasts of a 1.1% decline.

EUR/USD: the currency pair increased to $1.0887

GBP/USD: the currency pair rose to $1.5639

USD/JPY: the currency pair fell to Y124.18

The most important news that are expected (GMT0):

12:15 U.S. ADP Employment Report July 237 215

12:30 Canada Trade balance, billions June -3.34 -2.8

12:30 U.S. International Trade, bln June -41.87 -42.8

14:00 U.S. ISM Non-Manufacturing July 56 56.2

05.08.2015 11:45

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