Search

Client support: Phone: (+357) 22314160

FX & CFD trading involves significant risk

News

Show news:


23.08.2016 12:41

European session review: the pound has appreciated strongly against the dollar

The following data was published:

(Time / country / index / period / previous value / forecast)

Switzerland 6:00 Trade balance, bn in July 3.55 3.79 2.93

7:00 France Business activity index in the services sector (provisional) in August 50.5 50.5 52

France 7:00 PMI in the manufacturing sector (provisional) in August 48.6 48.8 48.5

7:30 Germany Index of business activity in the services sector (provisional) in August 54.4 54.4 53.3

7:30 Germany Index of business activity in the manufacturing sector (provisional) in August 53.8 53.5 53.6

8:00 Eurozone PMI in the manufacturing sector (preliminary data) August 52 52 51.8

8:00 Eurozone business activity index in the services sector (provisional) in August 52.9 52.8 53.1

10:00 UK Balance industrial orders Confederation of British Industry in August -9 -4 -5

The euro strengthened moderately against the US dollar, reaching 19 August high. The euro was supported by the data on business activity. A preliminary report from Markit Economics showed that the euro zone's private sector continued to expand in August, and recorded the fastest pace in 7 months. The composite PMI index, which covers the manufacturing sector and the service sector rose to 53.3 in August from 53.2 in July. Economists had expected the index to decline to 53.1. However, a preliminary index of business activity in the services sector rose to 53.1 from 52.9 a month earlier. The manufacturing PMI dropped to 51.8 against 52.0 in July. The German private sector expanded at a slower rate - the composite index fell to 54.4 from 55.3. Meanwhile, the French private sector recorded the fastest growth rate in 10 months - the composite index improved to 51.6 from 50.1.

Investors also adjusted their positions ahead of the release of the US statistics, namely the manufacturing PMI index and data on new home sales. According to forecasts, the PMI index fell to 52.7 from 52.9 in July, while sales of new homes fell in July 580 thousand to 592 thous.

At the same time, the market focus gradually shifted to the speech of Fed Yellen at the symposium in Jackson Hole, which will take place on Friday and could shed light on certain issues. Some experts believe that the statement may signal whether the Fed sees a strong enough economic momentum, which would allow to raise interest rates in September or in the coming months. According to the futures market, the probability of a Fed rate hike is 15% in September and 40.9% in December against 39.9% the previous day.

The British pound rose significantly against the dollar, updating the 3-week high. Later this week, analysts will analyze the Brexit impact on the UK economy. On Thursday we have the index of retail sales of the Confederation of British Industry (CBI), which will show whether consumer spending rebounded in August. On Friday, data on investment in the 2nd quarter will show what influence the uncertainty in connection with the referendum had on the plans for capital investment. The Bank of England is worried that companies could postpone investment until the situation of the UK and the EU will be clearer.

EUR / USD: during the European session, the pair rose to $ 1.1354


GBP / USD: during the European session, the pair has risen to $ 1.3208


USD / JPY: during the European session, the pair fell to Y99.93

Market Focus

  • Donald John Trump will be the 45th president of the United States
  • Britain can't get full single market access with free movement concessions - Merkel
  • China: Trade Balance, bln, October 49.6 (forecast 51.7)
  • New Zealand CPI, 3Q: 0.2% q/q (forecast 0%), 0.2% y/y (forecast 0.1%)
January 2017
  • 2017
  • 2016
  • 2015
  • 2014
  • 2013
  • 2012
  • 2011
  • 2010
  • 2009
  • 2008
  • 2007
  • 2006
  • 2005
  • 2004
  • 2003
  • 2002

Quotes

All posted material is a marketing communication solely for informational purposes and reliance on this may lead to loss. Past performance is not a reliable indicator of future results. Please read our full disclaimer.

To maximize our visitors browsing experience TeleTrade uses cookies in our web services. By continuing to browse this site you agree to our use of cookies. If you disagree, you may change your browser settings at any time. Read more

  • © 2011-2017 TeleTrade-DJ International Consulting Ltd

    TeleTrade-DJ International Consulting Ltd is registered as a Cyprus Investment Firm (CIF) under registration number HE272810 and licensed by the Cyprus Securities and Exchange Commission (CySEC) under license number 158/11.

    The company operates in accordance with Markets in Financial Instruments Directive (MiFID).

  • The information on this website is for informational purposes only. All the services and information provided have been obtained from sources deemed to be reliable. TeleTrade-DJ International Consulting Ltd ("TeleTrade") and/or any third-party information providers provide the services and information without warranty of any kind. By using this information and services you agree that under no circumstances shall TeleTrade have any liability to any person or entity for any loss or damage in whole or part caused by reliance on such information and services.

  • TeleTrade cooperates with SafeCharge Limited, which is an electronic money institution authorized and regulated by the Central Bank of Cyprus and is a principal member of MasterCard Europe and Visa Europe. We also cooperate with Moneybookers and Neteller, which offer electronic e-wallet services authorized and regulated by the Financial Conduct Authority.

    Please read our full Terms of Use.

  • To maximize our visitors browsing experience TeleTrade uses cookies in our web services. By continuing to browse this site you agree to our use of cookies. If you disagree, you may change your browser settings at any time. Read more

    TeleTrade-DJ International Consulting Ltd currently does not provide its services to residents or nationals of the USA, and also doesn't provide retail Forex and CFD accounts to residents or nationals of Belgium.

Служба технической поддержки:
8-800-200-31-00, support@teletrade-dj.com

  • Онлайн-консультация
  • Заказать звонок
  • Написать письмо
Connect with Us
Share on
social networks
Online
consultant
Request a callback
Top Page