Search

Client support: Phone: (+357) 22314160

FX & CFD trading involves significant risk

News

Show news:


08.08.2016 12:27

European session review: US dollar rose slightly against the euro

The following data was published:

(Time / country / index / period / previous value / forecast)

6:00 Germany Industrial Production (m / m) June -1.3% 0.7% 0.8%

7:15 Switzerland Consumer Price Index m / m in July 0.1% 0.5% -0.4%

7:15 Switzerland Consumer Price Index y / y in July -0.4% -0.3% -0.2%

8:30 Eurozone indicator of investor confidence from Sentix August 1.7 4.2

The euro fell slightly against the dollar, returning to the opening level. In general, the USD is consolidating after Friday's rally, which was caused by the publication of US labor market data. Recent statistics has been very supportive, which convinced investors in the stability of the economy and forced them to reconsider the forecasts regarding the timing of rate hikes. Today futures on interest rates suggest that the market takes into account a 15% probability of a rate hike in September and 43% in December.

The further decline of the euro hampered by returning risk appetite, as well as today's data for Germany and the euro zone. Ministry of Economy of Germany said that the seasonally adjusted industrial production in June increased by 0.8% compared with the previous month. Ministry of Economy of Germany said that the seasonally adjusted industrial production in June increased by 0.8% compared with the previous month. Economists had expected an increase of 0.7%. Manufacturing output increased by 1.5%, whereas in construction it fell by 0,5%. The data also showed that in the 2nd quarter, the industrial sector recorded a decline of 1% compared to the 1st quarter. " Overall, today's data weakened fears of a hard landing of the German economy in the 2nd quarter" said ING economist Carsten Brzeski

A survey presented by Sentix research group, showed that investor sentiment in the euro area improved significantly in August, as markets have examined the initial shock of the UK decision to leave the European Union. According to the data, investors confidence indicator rose in August to 4.2 points compared with 1.7 points in July. Analysts had expected the index to rise only 3.0 points. The sub-index of expectations rose in August to 4.8 points versus -2.0 points in July. However, the sub-index assessing the current conditions in the euro area deteriorated to 3.8 points from 5.5 points, reaching its lowest level since February last year. Investors more positively assess the prospects of Germany - the expectations index rose to 7.0 from 2.7 in July.

The pound has fallen sharply against the dollar, but then recovered in response to the resumption of risk appetite. However, Friday's data on US labor market and the Bank of England's readiness for aggressive policy easing continues to put pressure on the pound. Recall, last week the Bank of England lowered its rate to a record low and increased the volume of bond purchases to soften the negative impact of Brexit. Central Bank officials also signaled that they could even reduce the rate more. In general, the last stimulus program indicates a strong concern of officials about the economic outlook.

The course of trading was also affected by the expectations of tomorrow's statistics on industrial production in the UK. It is expected that by the end of June, industrial production increased by 0.2% in monthly terms and by 1.6% y/y. Meanwhile, production in the manufacturing sector is likely to contract by 0.2% in the month and increased by 1.3% y/y.

EUR / USD: during the European session, the pair has dropped from $ 1.1104 to $ 1.1079


GBP / USD: during the European session, the pair fell to $ 1.3031, but then partially recovered


USD / JPY: during the European session, the pair rose to Y102.45

08.08.2016 12:00

Orders

Market Focus

  • Donald J. Trump was inaugurated as the 45th president of the United States
  • Canada: Retail Sales, m/m, November 0.2% (forecast 0.5%)
  • U.S.: Nonfarm Payrolls, January 227 (forecast 175)
  • Eurozone: Consumer Confidence, January -4.9
March 2017
  • 2017
  • 2016
  • 2015
  • 2014
  • 2013
  • 2012
  • 2011
  • 2010
  • 2009
  • 2008
  • 2007
  • 2006
  • 2005
  • 2004
  • 2003
  • 2002

Quotes

All posted material is a marketing communication solely for informational purposes and reliance on this may lead to loss. Past performance is not a reliable indicator of future results. Please read our full disclaimer.

To maximize our visitors browsing experience TeleTrade uses cookies in our web services. By continuing to browse this site you agree to our use of cookies. If you disagree, you may change your browser settings at any time. Read more

  • © 2011-2017 TeleTrade-DJ International Consulting Ltd

    TeleTrade-DJ International Consulting Ltd is registered as a Cyprus Investment Firm (CIF) under registration number HE272810 and licensed by the Cyprus Securities and Exchange Commission (CySEC) under license number 158/11.

    The company operates in accordance with Markets in Financial Instruments Directive (MiFID).

  • The information on this website is for informational purposes only. All the services and information provided have been obtained from sources deemed to be reliable. TeleTrade-DJ International Consulting Ltd ("TeleTrade") and/or any third-party information providers provide the services and information without warranty of any kind. By using this information and services you agree that under no circumstances shall TeleTrade have any liability to any person or entity for any loss or damage in whole or part caused by reliance on such information and services.

  • TeleTrade cooperates with SafeCharge Limited, which is an electronic money institution authorized and regulated by the Central Bank of Cyprus and is a principal member of MasterCard Europe and Visa Europe. We also cooperate with Moneybookers and Neteller, which offer electronic e-wallet services authorized and regulated by the Financial Conduct Authority.

    Please read our full Terms of Use.

  • To maximize our visitors browsing experience TeleTrade uses cookies in our web services. By continuing to browse this site you agree to our use of cookies. If you disagree, you may change your browser settings at any time. Read more

    TeleTrade-DJ International Consulting Ltd currently does not provide its services to residents or nationals of the USA, and also doesn't provide retail Forex and CFD accounts to residents or nationals of Belgium.

Connect with Us
Share on
social networks
Online
consultant
Request a callback
Top Page