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03.09.2013 18:21

American focus: the dollar strengthened after data on manufacturing activity

The dollar rose against the euro, though it has lost some of the previously -earned positions. Note that a positive impact on the U.S. currency had reports of the United States. It is learned that manufacturing activity in the U.S. in August grew. This is according to the Institute for Supply Management (ISM). According to the report , Purchasing Managers Index (PMI) for the manufacturing sector in the U.S. August rose to 55.7 against 55.4 in July. Values ​​above 50 indicate an increase in activity in the sector . Economists had expected the August PMI to fall to 54.2 .

Earlier Tuesday, the company Markit said its own final PMI to the U.S. in August almost unchanged at 53.1 against the July final value of 53.7 . The report Markit said that its index of " corresponds to a moderate improvement of overall business conditions in the manufacturing sector ." As the data ISM, Markit index value above 50 indicates an increase in activity.

Meanwhile, we add that little support Eurocurrency had a report on the euro area, which showed that the producer price index for the industrial sector , with the exception of construction, rose in July by 0.2 percent year on year, which followed a 0.3 percent increase in June. Note that many economists forecast growth of 0.1 percent.

The pound rose earlier against the dollar after the data on the index of business activity in the construction sector. As the results of studies that have been conducted Chartered Institute of Purchasing and supply , as well as Markit Economics, business activity in the construction sector rose unexpectedly in August, which was supported by the improvement in output and new orders. According to reports, the purchasing managers' index for the construction sector rose last month to the level of 59.1 from 57 in July , while the projected slight decline , namely to 58.4 .

The Australian dollar rose against the U.S. dollar after the rate decision and the statement by the RBA . As it became known , the Reserve Bank of Australia kept its benchmark interest rate at a record low - 2.5 %% , as weak retail sales data were reminded that the country is going through a difficult end of a long boom in the mining industry. According to the bank , to boost the economy of the country will require longer maintain the low rate, as slowing growth in China have a negative impact on the value of commodities and does not stimulate the flow of investment in the mining industry .

Since November 2011 the central bank eight times to cut interest rates , trying to smooth the transition to an economy less dependent on the mining sector, and to prevent excessive growth of unemployment.

"Over the past year, Australia's economy grew slightly slower trend - the manager said RBA Governor Glenn Stevens , commenting on the decision of the bank. - In the short term, this will continue until the economy will adapt to the smaller volume of investments in the mining industry ."

03.09.2013 17:20

European stocks close

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