Client support: Phone: (+357) 22314160

FX & CFD trading involves significant risk


Show news:

31.08.2016 12:09

European session review: the pound traded higher

The following data was published:

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

6:00 UK House Price Index from Nationwide, m / m in August of 0.5% -0.3% 0.6%

6:00 UK House Price Index from Nationwide, y / y in August 5.2% 4.8% 5.6%

6:00 Germany Retail Sales seasonally adjusted -0.6% Revised July from -0.1% 0.5% 1.7%

6:00 Germany Retail sales, excluding seasonal adjustments, y / y 2.3% Revised July from 2.7% 0.3% -1.5%

6:00 Switzerland indicator of consumer activity from UBS in July 1.34 1.32

7:55 Germany Unemployment rate seasonally adjusted 6.1% in August 6.1% 6.1%

7:55 Germany Change in the number of unemployed in August Revised -8 from -7 -5 -7

9:00 Eurozone July unemployment rate 10.1% 10.0% 10.1%

9:00 Eurozone Consumer Price Index y / y (provisional) in August 0.2% 0.3% 0.2%

9:00 Eurozone consumer price index base value, y / y (provisional) in August 0.9% 0.9% 0.8%

Pound rises sharply after data showed that the UK economy is going through a good period after Brexit. According to the report of Nationwide, house prices in the country remains stable. A survey conducted by the GfK, showed improvement in consumer sentiment. These data allow investors to take profits on short positions on the pound.

In the UK house prices rose at the fastest pace in five months in August, reported Nationwide Building Society. Housing prices rose 5.6 percent year on year in August, after rising 5.2 percent in July. It was the most rapid growth over the past five months. Economists had forecast that the annual growth rate will slow to 4.8 per cent. In monthly terms, housing prices unexpectedly rose 0.6 percent, slightly faster than the growth of 0.5 percent a month ago. Prices were expected to decline by 0.3 percent.

New buyer inquiries softened after the introduction of an additional fee for second homes in and the uncertainty surrounding the EU referendum, said Robert Gardner, chief economist at Nationwide. "What's next on the demand side will determine to a large extent the prospects of the labor market and confidence among potential buyers," says Gardner.

At the same time, the consumer confidence index from the GfK Group has dropped to -7 in August, while analysts expected a decline to -8. Despite the decline, the index was better than the value of July, when the indicator fell to -12. Consumer confidence is weaker than it was prior to the vote on 23 June when the index stood at -1. The index of consumer confidence from the GfK Group is a leading indicator that reflects the level of consumer confidence in economic activity. The index is based on a survey of 2,000 people, conducted from August 1-16.

The euro declines against the background of large-scale strengthening of the US currency on expectations of a fed hike. At the same time, German unemployment dropped more than expected in August. The number of people out of work fell by 7,000 in August compared to July. Economists had forecast a decline of 5,000. At the same time, the unemployment rate remained stable at 6.1% in August. The result was in line with expectations. It was the lowest level since German reunification.

In addition, as shown by preliminary estimates from Eurostat, inflation in the eurozone remained stable in August. Inflation remained unchanged at 0.2%, while economists had expected the index to rise slightly to 0.3%. Inflation remains below the target level of the European Central Bank's' below but close to 2 percent since the beginning of 2013. Core inflation, which excludes energy, food, alcohol and tobacco decreased slightly to 0.8% from 0.9% in July. Core inflation was expected to remain at 0.9%.

EUR / USD: during the European session, the pair fell to $ 1.1128

GBP / USD: during the European session, the pair rose to $ 1.3156

USD / JPY: during the European session, the pair rose to Y103.33

Market Focus

  • The eurozone started the third quarter on a solid footing, according to PMI survey data
  • Earnings Season in U.S.: Major Reports of the Week
  • German private sector output growth slowed for the second month running in July
  • ECB's Mersch says as conditions normalise, it is unlikely that uncoventional policies will remain necessary
July 2017
  • 2017
  • 2016
  • 2015
  • 2014
  • 2013
  • 2012
  • 2011
  • 2010
  • 2009
  • 2008
  • 2007
  • 2006
  • 2005
  • 2004
  • 2003
  • 2002


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
Request a callback
Top Page