• Asian session: The dollar headed for a third weekly gain versus the euro

Market news

1 August 2014

Asian session: The dollar headed for a third weekly gain versus the euro

01:00 China Manufacturing PMI July 51.0 51.4 51.7

01:30 Australia Producer price index, q / q Quarter II +0.9% +0.7% -0.1%

01:30 Australia Producer price index, y/y Quarter II +2.5% +2.3%

01:45 China HSBC Manufacturing PMI (Finally) July 52.0 52.0 51.7

03:30 Japan BOJ Governor Haruhiko Kuroda Speaks


The dollar headed for a third weekly gain versus the euro, the longest stretch in two months, as signs of a sustained U.S. recovery boost speculation the Federal Reserve is moving toward raising interest rates.

The Bloomberg Dollar Spot Index approached the strongest since March as economists said data today will show U.S. employers boosted jobs and the Fed's preferred gauge of inflation was near the most since 2012. U.S. employers added 230,000 workers in July and the jobless rate stayed at an almost six-year low of 6.1 percent, according to Bloomberg surveys before today's Labor Department data. The personal consumption expenditure deflator, an inflation measure preferred by the Fed, rose an annual 1.7 percent in June after climbing 1.8 percent in May, which was the biggest gain since 2012, a separate survey showed.

The dollar rose for an 11th day versus the yen, the longest stretch since 2001.

Australia's dollar headed for its biggest weekly loss since May after a Chinese Purchasing Managers' Index for manufacturing from HSBC Holdings Plc and Markit Economics showed a final reading of 51.7 in July, less than its preliminary figure of 52.


EUR / USD: during the Asian session, the pair traded in the range of $ 1.3385-90

GBP / USD: during the Asian session the pair fell to $ 1.6865

USD / JPY: during the Asian session, the pair rose to Y102.95


Focus on key US employment data at 1230GMT, with action in the dollar providing the main market drive, though UK mfg PMI at 0830GMT (median 57.2 vs 57.5 last) will provide the earlier domestic interest.

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.