• European session: Euro consolidates

Market news

3 July 2012

European session: Euro consolidates

Data:

01:00 China  Non-Manufacturing PMI June 55.2 56.7

01:30 Australia Building Permits, m/m May -8.7% +5.1% +27.3%

01:30 Australia Building Permits, y/y May -24.1% -15.2% +9.3%

01:30 Japan  Labor Cash Earnings, YoY May +0.8% +0.6% -0.8%

04:30 Australia Announcement of the RBA decision on the discount rate  3.50% 3.50% 3.50%

04:30 Australia RBA Rate Statement -

08:30 United Kingdom PMI Construction June 54.4 53.1 48.2

08:30 United Kingdom Mortgage Approvals May 51.8 51.0 51.1

08:30 United Kingdom Net Lending to Individuals, bln May 1.4 1.1 0.6

09:00 Eurozone  Producer Price Index, MoM May 0.0% -0.2% -0.5%

09:00 Eurozone Producer Price Index (YoY) May +2.6% +2.5% +2.3%


In early European session, the euro traded in a range, as market participants prepared for celebrating Independence Day in the USA. In connection with this sale of major currencies is sluggish. It is possible that a small move comes after the publication of data on production orders in the U.S.. According to forecasts by economists, this indicator in May, is likely to grow by 0.1% after falling 0.6% the previous month. The Australian dollar reached a two-month high after the publication of positive reports about the number of building permits. After that the pair was trading close to the values ​​achieved. The yen fell against most currencies against the background of active trading in the stock markets in Asia and Europe and on expectations that central banks around the world will take new measures to support the economy. Investors' attention is also shifted to the central bank meeting scheduled later this week.


EUR / USD: during the European session, the pair traded in a range 1,2575-1,2613.

GBP / USD: steam rose to the level of 1.5715, but then began to decline, refreshing session low

USD / JPY: pair showed a significant increase and is now trading in the highs


At 13:00 GMT the U.S. there are data on production orders for May.

Market Focus
Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimer
Open Demo Account & Personal Page
I understand and accept the Privacy Policy and agree to my name and contact details being used by TeleTrade to contact me about this.