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01.06.2015 18:29

American focus: the dollar rose against most major currencies

The US dollar appreciated strongly against the euro, while returning to a session high, which was associated with the publication of positive statistics on business activity in the manufacturing sector. The Markit reported that activity in the US manufacturing sector continued to grow in May - the final PMI index was 54.0 against preliminary level of 53.8 and 54.1 index in late April. "The data for May point to a further strong recovery of industrial production growth in the US, but the pace of new orders slowed to its lowest level since the beginning of 2014," - noted in the Markit.

Meanwhile, a report published by the Institute for Supply Management (ISM), showed that in May manufacturing activity in the US has improved, beating forecasts for a slight improvement. PMI index for the US manufacturing in May was 52.8 points versus 51.5 points in April. Expected to increase to 52.0 points. Sub-indices showed themselves as follows: employment index rose in May to 51.7 against 48.3 in April, the price index improved to 49.5 from 40.5, the index of inventories rose to 51.5 from 49.5, the index of production It fell to 54.5 from 56.0 and the new orders index rose to 55.8 from 53.5.

The pound fell markedly against the dollar, approaching to the lowest since May 7, against the background of data on manufacturing activity in Britain and upbeat statistics .Napomnim US, growth in the UK manufacturing sector improved less than expected in May, due to a modest expansion of output and new orders, showed the survey data from Markit Economics on Monday. The index of purchasing managers by Markit / Chartered Institute of Purchasing and Supply rose slightly to 52.0 in May from 51.8 in April, which was revised up from 51.9. Economists had expected the figure will be 52.5 for the month. Any reading above 50 indicates expansion in the sector. Industrial production increased at a slower pace in May, but the pace of the weakening was less severe than a sharp slowdown in April, led by strong domestic demand. New orders also rose in May, but the growth rate was better than the 7-month low in the previous month. Manufacturers increased employment twenty-fifth consecutive month in May, although the growth rate was only minor. On the price front, the purchase prices fell again in May, which was due to lower costs for raw materials. Meanwhile, sales prices increased for the first time in five months in May.

The yen depreciated substantially against the US dollar, almost reaching Y125.00. Analysts say that the pair was caused by the strong performance of manufacturing activity and construction spending in the United States. Recall, construction spending in the US rose significantly in April, thus reaching its highest level in more than six years, which helped increase in the sector of housing, non-residential construction and government projects. The Commerce Department said: the results of April construction spending increased by 2.2 percent (seasonally adjusted), while reaching $ 1 trillion. (Up to November 2008). We also add the figure for March was revised upward - up to 0.5 percent from 0.6 percent. Experts expect that the cost will increase by 0.8 percent. The report said the April change was due to the rising costs of housing construction (0.6 percent) and non-residential activities, such as office buildings, hotels and shopping centers (3.1 percent). Meanwhile, spending on government projects rose by 3.3 percent, reflecting the biggest jump in the sector for three years and offset the decline in federal government spending by 3.6 percent.

01.06.2015 18:27

WSE: Session Results

Market Focus

  • The Bank of Japan decided by a 7-2 majority vote to hold the interest rate at -0.10%
  • Earnings Season in U.S.: Major Reports of the Week
  • U.S. commercial crude oil inventories decreased by 4.7 million barrels from the previous week
  • Australian unemployment rate stable at 5.6% in June
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