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12.08.2014 12:07

Foreign exchange market. European session: the euro dropped against the U.S. dollar due to the weaker-than-expected economic sentiment from the Eurozone

Economic calendar (GMT0):

(Time/ Region/ Event/ Period/ Previous/ Forecast/ Actual)

01:30 Australia National Australia Bank's Business Confidence July 8 11

01:30 Australia House Price Index (QoQ) Quarter II +1.7% +1.1% +1.8%

01:30 Australia House Price Index (YoY) Quarter II +10.9% +10.1%

02:30 New Zealand REINZ Housing Price Index, m/m July -0.3% -0.7%

04:30 Japan Industrial Production (MoM) (Finally) June -3.3% +0.5% -3.4%

04:30 Japan Industrial Production (YoY) (Finally) June +3.2% +3.1%

09:00 Eurozone ZEW Economic Sentiment August 48.1 41.3 23.7

09:00 Germany ZEW Survey - Economic Sentiment August 27.1 18.2 8.6

The U.S. dollar traded mixed to higher against the most major currencies. Investors monitor closely the situation in Ukraine and Iraq. Russia sent 280 trucks carrying humanitarian aid to Southeast Ukraine.

Iraqi President nominated a new Prime Minister but Nuri al-Maliki, the current Prime Minister, has refused to go.

The euro dropped against the U.S. dollar due to the weaker-than-expected economic sentiment from the Eurozone. The ZEW Centre for Economic Research released its economic sentiment index for Germany and the Eurozone. The economic sentiment index for Germany plunged to 8.6 in August from 27.1 in July. That was the lowest level since December 2012. Analysts had expected a decline to 18.2.

The drop was driven by geopolitical tensions.

Eurozone's ZEW economic sentiment index fell to 23.7 in August from 48.1 in July. Analysts had expected a decrease to 41.3.

The British pound traded mixed against the U.S. dollar in the absence of any major economic reports in the UK.

EUR/USD: the currency pair declined to $1.3335

GBP/USD: the currency pair traded mixed

USD/JPY: the currency pair traded mixed

The most important news that are expected (GMT0):

14:00 U.S. JOLTs Job Openings June 4635 4740

18:00 U.S. Federal budget July 70.5 -98.2

23:50 Japan Monetary Policy Meeting Minutes

23:50 Japan GDP, q/q (Preliminary) Quarter II +1.6% -1.7%

23:50 Japan GDP, y/y Quarter II +3.0%

12.08.2014 11:54

Orders

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  • German private sector output growth slowed for the second month running in July
  • ECB's Mersch says as conditions normalise, it is unlikely that uncoventional policies will remain necessary
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