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03.09.2014 12:00

Foreign exchange market. European session: the euro traded higher against the U.S. dollar as tensions between Russia and Ukraine eased

Economic calendar (GMT0):

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

01:00 China Non-Manufacturing PMI August 54.2 54.4

01:30 Australia Gross Domestic Product (QoQ) Quarter II +1.1% +0.4% +0.5%

01:30 Australia Gross Domestic Product (YoY) Quarter II +3.5% +3.0% +3.1%

01:45 China HSBC Services PMI August 50.0 54.1

03:20 Australia RBA's Governor Glenn Stevens Speech

07:48 France Services PMI (Finally) August 51.1 51.1 50.3

07:53 Germany Services PMI (Finally) August 56.4 56.4 54.9

07:58 Eurozone Services PMI (Finally) August 53.5 53.5 53.1

08:30 United Kingdom Purchasing Manager Index Services August 59.1 58.6 60.5

09:00 Eurozone Retail Sales (MoM) July +0.3% Revised From +0.4% -0.3% -0.4%

09:00 Eurozone Retail Sales (YoY) July +2.4% +0.9% +0.8%

The U.S. dollar traded mixed to lower against the most major currencies ahead of the U.S. factory orders. Factory orders in the U.S. are expected to increase 10.9% in July, after a 1.1% gain in June.

The euro traded higher against the U.S. dollar as tensions between Russia and Ukraine eased. Ukrainian President Petro Poroshenko's office said that Russian President Vladimir Putin and Ukrainian President Petro Poroshenko agreed on a "permanent ceasefire". Russia denied that it had agreed to the ceasefire because Russia isn't a party in the conflict. But Russia and Ukraine discuss how to resolve the conflict.

The speculation that the European Central Bank (ECB) will add further stimulus measures also supported the euro. The ECB will released its interest rate decision on Thursday.

Retail sales in the Eurozone fell 0.4% in July, missing expectations for a 0.3% decline, after a 0.3% increase in June. June's figure was revised down from a 0.4% rise.

On a yearly basis, retail sales in the Eurozone climbed 0.8% in July, missing expectations for a 0.9% rise, after a 1.9% gain in June.

Eurozone's final service purchasing managers' index fell to 53.1 in August from 53.5 in July.

German final service purchasing managers' index declined to 54.9 in August from 56.4 in July.

French final service purchasing managers' index decreased to 50.3 in August from 51.1 in July.

The British pound traded mixed against the U.S. dollar after the better-than-expected Services Purchasing Managers Index from the UK. Services Purchasing Managers Index climbed to 60.5 in August from 59.1 in July, beating expectations for a fall to 58.6.

The Canadian dollar increased against the U.S. dollar ahead of the Bank of Canada's interest rate decision. Analysts expect the Bank of Canada will keep its interest rate unchanged at 1.00%.

EUR/USD: the currency pair rose to $1.3159

GBP/USD: the currency pair traded mixed

USD/JPY: the currency pair traded mixed

The most important news that are expected (GMT0):

14:00 Canada Bank of Canada Rate 1.00% 1.00%

14:00 Canada BOC Rate Statement

14:00 U.S. Factory Orders July +1.1% +10.9%

18:00 U.S. Fed's Beige Book

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