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03.02.2014 13:15

European session: the pound fell sharply against the U.S. dollar

Data

00:00 China Bank holiday

00:30 Australia Building Permits, m/m December -0.3% Revised From -1.5% -0.3% -2.9%

00:30 Australia Building Permits, y/y December +23.6% Revised From +22.2% +21.8%

00:30 Australia ANZ Job Advertisements (MoM) January -0.8% Revised From -0.8% -0.3%

01:00 China Non-Manufacturing PMI January 54.6 53.4

05:30 Australia RBA Commodity prices, y/y January -4.0% -9.9%

08:30 Switzerland Manufacturing PMI January 53.9 55.1 56.1

08:48 France Manufacturing PMI (Finally) January 48.8 48.8 49.3

08:53 Germany Manufacturing PMI (Finally) January 56.3 56.3 56.5

08:58 Eurozone Manufacturing PMI (Finally) January 53.9 53.9 54.0

09:30 United Kingdom Purchasing Manager Index Manufacturing January 57.3 57.1 56.7

12:00 Eurozone ECB’s Vitor Constancio Speaks


The euro exchange rate is traded slightly higher against the dollar. Positive data for the euro area had considerable support Eurocurrency , but even they were not enough to hold near session highs . As it became known , the manufacturing sector grew in the eurozone last month a little more than originally expected . This was stated in the data that were presented today Markit Economics. According to the report , the final purchasing managers index , which assesses activity in the manufacturing sector rose to 54 points in January, compared with the initial assessment at the level of 53.9 points , and the final reading for December at 52.7 points . We add that the last value was the highest since May 2011. Manufacturing PMI increased in each of the last four months and demonstrates an extension to July last year.

Pound declined significantly against the dollar, which was caused by the publication of weak data on Britain. Recent research results that were announced earlier today by Markit Economics and Chartered Institute, showed that UK manufacturing index fell slightly last month , beating forecasts while most experts . Nevertheless , despite the recession , the manufacturing sector continued to expand in January , reflecting the improvement in output and new orders growth . According to the report , the seasonally adjusted purchasing managers' index for the manufacturing sector fell last month to a level of 56.7 points , compared with a revised figure for December at the level of 57.2 points in December . Economists expected the index to decline to 57.1 from 57.3 points in December , which was originally reported. Although PMI is now and is at its lowest level in the last three months , it is still significantly higher than the average - at the level of 51.3 points.


EUR / USD: during the European session, the pair rose to $ 1.3518 , then dropped to $ 1.3495

GBP / USD: during the European session, the pair fell to $ 1.6320

USD / JPY: during the European session, the pair fell to Y101.65, but then recovered to Y102.10


At 13:30 GMT , Canada will present the raw material price index for December and 14:30 GMT - PMI index for the manufacturing of RBC in January . At 15:00 GMT the U.S. will release the ISM manufacturing index for January. At 23:50 GMT , Japan will announce to the change in the monetary base in January .

03.02.2014 11:45

European stock fell

Market Focus

  • Donald J. Trump was inaugurated as the 45th president of the United States
  • Canada: Retail Sales, m/m, November 0.2% (forecast 0.5%)
  • U.S.: Nonfarm Payrolls, January 227 (forecast 175)
  • Eurozone: Consumer Confidence, January -4.9
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