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07:50 France Services PMI (finally) July 47.9 50.2 50.0
07:55 Germany Services PMI (finally) July 49.9 49.7 50.3
08:00 Eurozone Services PMI (finally) July 47.1 47.6 47.9
08:30 United Kingdom Purchasing Manager Index Services July 51.3 51.7 51.0
09:00 Eurozone Retail Sales (MoM) June +0.6% +0.1% 0.1%
09:00 Eurozone Retail Sales (YoY) June -1.7% -1.8% -1.2%
The euro rose on rumors that the Spanish Government intends to hold an unscheduled press conference, during which the authorities have formally requested the support of EFSF. Meanwhile, the yield on the 2-year bonds dropped from Spain's level of 4.48% to 3.75%. Today we have published data on the PMI index in the euro area - the weak PMI data for France and Italy were offset by more favorable from those of Germany and the eurozone.
Players are waiting for data on the labor market in the U.S., which may give the Fed a reason for the introduction of a new anti-crisis measures. Analysts expect that U.S. employers created in July of 100,000 new jobs outside the agricultural sector after 80,000 in June. If the result is much worse than expected, it will reinforce expectations that the Fed will launch new measures to support the flagging economy.
EUR / USD: the pair during the session showed a steady growth of up to $ 1.2292 and is now trading near $ 1.2249
GBP / USD: the pair rose to $ 1.5598
USD / JPY: the pair rose to Y78.35
At 12:30 GMT the United States become aware of the level of unemployment, change in the number of people employed in non-agricultural sector, private sector and the manufacturing sector in July. Also at this time there are data on changes in average hourly wages for July. Finish the day at 14:00 GMT U.S. publication of information on the composite index for the ISM service sector in July.
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