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05.11.2014 13:04

Foreign exchange market. European session: the euro declined against the U.S. dollar after the weaker-than-expected retail sales from the Eurozone

Economic calendar (GMT0):

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

01:30 Japan Labor Cash Earnings, YoY September +0.9% Revised From +1.4% +0.9% +0.8%

01:45 China HSBC Services PMI October 53.5 52.9

02:30 Japan BOJ Governor Haruhiko Kuroda Speaks

08:15 Switzerland Consumer Price Index (MoM) October +0.1% -0.1% 0.0%

08:15 Switzerland Consumer Price Index (YoY) October -0.1% 0.0% 0.0%

08:48 France Services PMI (Finally) October 48.1 48.1 48.3

08:53 Germany Services PMI (Finally) October 54.8 54.8 54.4

08:58 Eurozone Services PMI (Finally) October 52.4 52.4 52.3

09:30 United Kingdom Purchasing Manager Index Services October 58.7 58.7 56.2

10:00 Eurozone Retail Sales (MoM) September +0.9% Revised From +1.2% -0.6% -1.3%

10:00 Eurozone Retail Sales (YoY) September +1.9% +1.5% +0.6%

The U.S. dollar rose against the most major currencies ahead of the U.S. economic data. The greenback was supported by U.S. midterm elections. Democrats lost control of the U.S. Senate. The Republican Party also extended their majority in the House of Representatives, their largest majority in the House of Representatives since the 1940s.

The U.S. economy is expected to add 214,000 jobs in October, according to the ADP employment report.

The ISM non-manufacturing purchasing managers' index is expected to decline to 58.2 in October from 58.6 in September.

The euro declined against the U.S. dollar after the weaker-than-expected retail sales from the Eurozone. Retail sales in the Eurozone fell 1.3% in September, missing expectations for a 0.6% decrease, after a 0.9% gain in August. August's figure was revised down from a 1.2% rise.

Eurozone's final services purchasing managers' index decreased to 52.3 in October from 52.4 in September. Analysts had expected the index to remain unchanged at 52.4.

Germany's final services purchasing managers' index fell to 54.4 in October from 54.8 in September. Analysts had expected the index to remain unchanged at 54.8.

France's final services purchasing managers' index rose to 48.3 in October from 48.1 in September. Analysts had expected the index to remain unchanged at 48.1.

The British pound dropped against the U.S. dollar after the weaker-than-expected services PMI from the U.K. The services purchasing managers' index in the U.K. fell to 56.2 in October from 58.7 in September. Analysts had expected the index to remain unchanged at 58.7.

The Swiss franc fell against the U.S. dollar. Switzerland's consumer price index was flat in October, beating expectations for a 0.1% decline, after a 0.1% rise in September.

EUR/USD: the currency pair fell to $1.2466

GBP/USD: the currency pair dropped to $1.5867

USD/JPY: the currency pair rose to Y114.77

The most important news that are expected (GMT0):

13:15 U.S. ADP Employment Report October 213 214

14:15 U.S. FOMC Member Narayana Kocherlakota

15:00 U.S. ISM Non-Manufacturing October 58.6 58.2

23:50 Japan Monetary Policy Meeting Minutes

05.11.2014 12:45

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