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01.02.2016 13:19

Foreign exchange market. European session: the euro traded higher against the U.S. dollar despite the release of the mixed manufacturing PMI data from the Eurozone

Economic calendar (GMT0):

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

01:00 China Manufacturing PMI January 49.7 49.6 49.4

01:00 China Non-Manufacturing PMI January 54.4 53.5

01:45 China Markit/Caixin Manufacturing PMI January 48.2 48.4

02:00 Japan Manufacturing PMI (Finally) January 52.6 52.4 52.3

08:30 Switzerland Manufacturing PMI January 50.4 Revised From 52.1 50.9 50

08:50 France Manufacturing PMI (Finally) January 51.4 50 50

08:55 Germany Manufacturing PMI (Finally) January 53.2 52.1 52.3

09:00 Eurozone Manufacturing PMI (Finally) January 53.2 52.3 52.3

09:30 United Kingdom Consumer credit, mln December 1479 Revised From 1476 1300 1169

09:30 United Kingdom Mortgage Approvals December 70.42 Revised From 70.41 69.6 70.84

09:30 United Kingdom Purchasing Manager Index Manufacturing January 52.1 Revised From 51.9 51.8 52.9

The U.S. dollar traded mixed to lower against the most major currencies ahead of the release of the U.S. economic data. The personal consumer expenditures (PCE) price index excluding food and energy is expected to increase 0.1% in December, after a flat reading in November.

Personal income in the U.S. is expected to rise 0.2% in December, after a 0.3% gain in November.

Personal spending in the U.S. is expected to gain 0.1% in December, after a 0.3% rise in November.

The final manufacturing purchasing managers' index is expected to climb to 52.7 in January from 51.2 in December.

The ISM manufacturing purchasing managers' index is expected to remain unchanged at 48.0 in January.

The euro traded higher against the U.S. dollar despite the release of the mixed manufacturing PMI data from the Eurozone. Markit Economics released its final manufacturing purchasing managers' index (PMI) for the Eurozone on Monday. Eurozone's final manufacturing purchasing managers' index (PMI) dropped to 52.2 in January from 53.2 in December, in line with the preliminary reading.

The drop was driven by a softer growth in output and new orders.

"Growth of order books, exports and output all slowed. If the slowdown in business activity wasn't enough to worry policymakers, prices charged by producers fell at the fastest rate for a year to spur further concern about deflation becoming ingrained," Chris Williamson, Chief Economist at Markit said.

Germany's final manufacturing purchasing managers' index (PMI) fell to 52.3 in January from 53.2 in December, up from the preliminary reading of 52.1.

The index was driven by a weaker rise in production and new orders. Lower energy and raw material prices weighed on input costs.

France's final manufacturing purchasing managers' index (PMI) declined to 50.0 in January from 51.4 in December, in line with the preliminary reading.

The index was driven by a drop in new orders, and input and output prices.

The British pound traded higher against the U.S. dollar after the release of the better-than-expected manufacturing PMI data from the U.K. Markit Economics released its manufacturing purchasing managers' index (PMI) for the U.K. on Monday. The Markit/Chartered Institute of Procurement & Supply manufacturing PMI for the U.K. increased to 52.9 in January from 52.1 in December, exceeding expectations for a rise to 51.8. December's figure was revised up from 51.9.

The increase was driven by a rise in domestic demand.

"The UK manufacturing sector registered an uptick in its rate of expansion at the start of 2016, shrugging off a number of potential headwinds, ranging from global financial market volatility to localised flooding in the North of the country. The domestic market remains the key growth driver," Markit's Senior Economist Rob Dobson said.

The Bank of England (BoE) released its number of mortgages approvals for the U.K. on Monday. The number of mortgages approvals in the U.K. was up to 70,837 in December from 70,424 in November, exceeding expectations for a decrease to 69,600. November's figure was revised up from 70,410.

Consumer credit in the U.K. rose by £1.169 billion in December, missing expectations for an £1.300 billion increase, after a £1.479 billion gain in November. November's figure was revised down from £1.476 billion.

The Swiss franc traded higher against the U.S. dollar. Credit Suisse and procure.ch released their manufacturing purchasing managers' index (PMI) for Switzerland on Monday. The manufacturing purchasing managers' index in Switzerland fell to 50.0 in January from 50.4 in December, missing expectations for an increase to 50.9. December's figure was revised down from 52.1.

A reading above 50 indicates contraction.

The decline was largely driven by a drop in purchase prices. Purchase prices dropped to 41.7 in January from 45.4 in December, while the backlog of orders sub-index fell to 49.3 from 49.9.

EUR/USD: the currency pair rose to $1.0887

GBP/USD: the currency pair climbed to $1.4319

USD/JPY: the currency pair traded mixed

The most important news that are expected (GMT0):

13:30 U.S. Personal Income, m/m December 0.3% 0.2%

13:30 U.S. Personal spending December 0.3% 0.1%

13:30 U.S. PCE price index ex food, energy, m/m December 0.0% 0.1%

13:30 U.S. PCE price index ex food, energy, Y/Y December 1.3%

14:45 U.S. Manufacturing PMI (Finally) January 51.2 52.7

15:00 U.S. Construction Spending, m/m December -0.4% 0.6%

15:00 U.S. ISM Manufacturing January 48 48

16:00 Eurozone ECB President Mario Draghi Speaks

18:00 U.S. FED Vice Chairman Stanley Fischer Speaks

01.02.2016 13:00

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