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23.09.2013 12:22

European session: the euro fell

06:58 France Manufacturing PMI (Preliminary) September 49.7 50.2 49.5

06:58 France Services PMI (Preliminary) September 48.9 49.3 50.7

07:00 Switzerland KOF Institute Economic Forecast Quarter IV

07:28 Germany Manufacturing PMI (Preliminary) September 51.8 52.3 51.3

07:28 Germany Services PMI (Preliminary) September 52.8 53.2 54.4

07:58 Eurozone Services PMI (Preliminary) September 50.7 51.1 52.1

08:00 Eurozone Manufacturing PMI (Preliminary) September 51.4 51.8 51.1

10:00 Germany Bundesbank Monthly Report September

The euro fell slightly against the dollar after data on manufacturing activity in the euro area. Despite the fact that the Purchasing Managers 'Index rose , data on manufacturing activity was weaker than economists' expectations . The increase was primarily due to improved activity in the services sector.

In the eurozone, the preliminary consolidated production index rose in September more than expected to a 27- month high of 52.1 compared with 51.5 in August. Economists had expected a rise to 51.7 . The index of purchasing managers in the services sector reached 52.1 compared with 50.7 in August. Activity in the services sector rose a second month in a row , has expanded at the fastest pace since June 2011 . Meanwhile , the index of manufacturing activity fell to 51.1 in September from 51.4 in August. However , industrial production increased for the third consecutive month.

In Germany, the seasonally adjusted Composite Index , a measure of activity in the manufacturing sector and the service sector reached 53.8 eight-month high in September, compared with 53.5 in August. Values ​​above 50 indicate expansion, while a decrease below 50 per sector. Activity in the private sector rose a fourth straight month in September , driven by continued growth in new orders , which rose at the fastest pace since June 2011 . In response to an increase in new orders , employers, private sector employment increased in September, while the pace of job creation were the most prominent in March 2012 . The rise in the overall performance of the private sector reflects the strong improvement in activity in the services sector. Purchasing Managers' Index (PMI) for the service sector rose to 54.4 in September from 52.8 the previous month , reaching the highest level in seven months. Economists had expected the index to rise to 53. Meanwhile, the activity indicator for the manufacturing sector fell to 51.3 in September from 51.8 in August. Economists' expectations were at the level of increase to 52 . Sub-indicator level of production at German factories fell to three-month low 52.7 from 54.8 in August.

Market participants continue to assess the results of the elections in Germany , held last Sunday , and began talks on forming a new coalition government led by Angela Merkel . Angela Merkel won a landslide victory over his opponent Peer Steinbrueck and his party of Social Democrats ( center-left ) , which won only 26 % of the vote . However, to obtain an absolute majority in the Bundestag Christian Democratic Party Merkel did not have any of three places. Her former colleagues in the coalition, the Free Democratic Party failed to gain 5 % of the vote to win seats in Parliament. As a result, Merkel will have to negotiate with the other party is likely to Peer Steinbrück party to form a coalition .

Dollar loses second day against the yen ahead of today's speech, the president Federal Reserve Bank of New York and Atlanta Fed Dudley Dennis Lockhart . Recall that last week, the Fed unexpectedly refrained from lowering monthly asset purchases , saying that more signs of sustainable recovery of the labor market .

The Australian dollar rose after today's publication of the preliminary data of the manufacturing index from HSBC PMI on China's economy. This month the index rose to 51.2 , from 50.1 in August , while analysts had expected growth of only 50.9 .

EUR / USD: during the European session, the pair fell to $ 1.3498

GBP / USD: during the European session, the pair rose to $ 1.6059

USD / JPY: during the European session, the pair fell to Y98.86

At 13:00 GMT the United States will leave the index of business activity in the manufacturing sector in September.

23.09.2013 12:01


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