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10.09.2013 12:11

European session: the euro fell

06:45 France Industrial Production, m/m July -1.4% +0.7% -0.6%

06:45 France Industrial Production, y/y July -0.2% -0.4% -1.8%

08:30 United Kingdom BOE Credit Conditions Survey Quarter III

The euro fell against the dollar after weak data on industrial production in France. The volume of French industrial production fell in July compared with June , data showed on Tuesday statistical office Insee. Industrial production fell unexpectedly by 0.6 percent in July compared with the previous month , though at a slower rate than the 1.4 percent decline in June. Production, according to expectations , was to increase by 0.5 percent.

Manufacturing output fell by 0.7 percent, confounding expectations for a 0.7 percent rise. Moreover, the rate of decline was greater than the 0.4 percent fall, which was recorded in June. On a monthly measurement of the decline in July was largely due to the 6.7 - percent drop in the production of vehicles and equipment. In addition, the production of coke and petroleum products fell by 6 percent.

On an annual basis , a decrease of industrial production accelerated to 1.8 percent from 0.1 percent. In addition , the volume of manufacturing output fell by 2.5 percent after easing to 0.4 percent in June. Economists had expected industrial production and manufacturing output to decline in July by 0.5 percent each .

The yen fell to a two-week low against the euro , as Management of the Bank of Japan announced its firm intention to continue easing the monetary policy of the bank. This was stated in the minutes of the last meeting of the Central Bank , which was held last week.

The Australian dollar rose to a six-week high on the back of improved business confidence after the election. According to the National Australia Bank, business confidence in Australia in August rose to its highest level since May 2011 against the expected victory of the coalition of the Liberal and Conservative parties in the elections .

On Sunday, the coalition won a landslide victory over the government of the liberal minority, which advocated for new taxes on the profits of the mining industry and on carbon emissions. Elected Prime Minister Tony Abbott has promised to cut both taxes and invest in infrastructure.

As shown by National Australia Bank, the index of business confidence in Australia in August rose to 6 , the highest level in more than two years. In July, the index stood at -3 . The index of business conditions rose slightly , from -7 to -6 .


EUR / USD: during the European session, the pair fell to $ 1.3228


GBP / USD: during the European session, the pair fell to $ 1.5686

USD / JPY: during the European session, the pair rose to Y100.38

At 12:15 GMT in Canada will be released by Housing Starts for August. U.S. at 14:00 GMT and will publish a vacancy rate of labor turnover from the Bureau of Labor Statistics in July , and 20:30 GMT - the change in volume of crude oil , according to API. At 21:00 GMT New Zealand will release the house price index from REINZ and the change in volume of home sales for August from REINZ . At 23:50 GMT Japan will publish the BSI business conditions index for large manufacturers and business conditions index (BSI) for large enterprises in all sectors of the 3rd quarter .


10.09.2013 12:00

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