• American focus: the euro rose

Market news

22 August 2013

American focus: the euro rose

The euro rose against the dollar as strong data on manufacturing activity in China, the U.S. and the euro area have led to a demand for risky assets.

Business activity in the euro area in August showed the fastest growth rate of more than two years, signaling that the euro zone's economic recovery is gaining momentum. Any data presented on Thursday Markit. The composite index of business activity, based on a survey of purchasing managers, rose in August to 51.7 against 50.5 in July, and it was the tallest of its value in 26 months. According to Markit, increased activity was observed both the industrial sector and the service sector.

Manufacturing activity in the U.S. in August rose to its highest level in five months, as rising employment and new orders accelerated. According to the data, a preliminary purchasing managers' index (PMI) for the manufacturing sector in the U.S. August rose to 53.9 against the final value of the July 53.7. This is the highest level since March.

The index of business activity in the industry was established at the Federal Reserve Bank of Kansas highest since June 2011, levels, and housing cost index showed growth in line with expectations at 0.7%. According to the index of leading indicators was recorded 0.6% increase in the average forecast of +0.5% m / m A few disappointing weekly statistics on the number of initial claims for unemployment benefits, which showed the growth rate up to 336 thousand with expectations of 322 thousand

Australian dollar retreated from a two-week low after the release of positive statistics from the PRC. In August, the index of production in China rose after falling to its lowest level in 11 months, that is, there are signs that the second largest economy in the world can become stronger after two quarters of decline. Preliminary index of purchasing managers in the manufacturing of HSBC Holdings Plc and Markit Economics was 50.1 against 47.7 in July.

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