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Economic calendar (GMT0):
Time/ Region/ Event/ Period/ Previous/ Forecast/ Actual
01:45 China Markit/Caixin Services PMI July 51.8 53.8
The dollar continued to strengthen against major currencies after Federal Reserve Bank of Atlanta President Dennis Lockhart said yesterday that the economy is ready for higher short-term interest rates and only significant falls in data could change his opinion.
The euro weakened ahead of U.S. payrolls data due Friday.
Lockhart's statement pushed the Australian dollar down. However the AUD was slightly supported by China services sector data. The Caixin/Markit PMI rose to 53.8 in July from June's reading of 51.8, reaching the highest level since August 2014. New orders grew further and employment in the services sector continued rising.
The New Zealand dollar fell amid weak labor market data. The seasonally adjusted unemployment level came in at 5.9% in the second quarter after it posted 5.8% in the first quarter. This reading matched expectations. Growing unemployment points to lack of growth in the country's labor market and weakens the kiwi.
EUR/USD: the pair fell to $1.0845 in Asian trade
USD/JPY: the pair rose to Y124.45
GBP/USD: the pair fell to $1.5525
The most important news that are expected (GMT0):
(time / country / index / period / previous value / forecast)
07:15 Switzerland Consumer Price Index (YoY) July -1.0% -1.1%
07:15 Switzerland Consumer Price Index (MoM) July 0.1% -0.4%
07:50 France Services PMI (Finally) July 54.1 52
07:55 Germany Services PMI (Finally) July 53.8 53.7
08:00 Eurozone Services PMI (Finally) July 54.4 53.8
08:30 United Kingdom Purchasing Manager Index Services July 58.5 58
09:00 Eurozone Retail Sales (MoM) June 0.2% -0.3%
09:00 Eurozone Retail Sales (YoY) June 2.4% 1.9%
11:00 U.S. MBA Mortgage Applications July 0.8%
12:15 U.S. ADP Employment Report July 237 215
12:30 Canada Trade balance, billions June -3.34 -2.8
12:30 U.S. International Trade, bln June -41.87 -42.8
13:45 U.S. Services PMI (Finally) July 54.8 55.2
14:00 U.S. ISM Non-Manufacturing July 56 56.2
14:30 U.S. Crude Oil Inventories July -4.203 -1.95
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