• Foreign exchange market. European session: the euro traded lower against the U.S. dollar

Market news

15 September 2014

Foreign exchange market. European session: the euro traded lower against the U.S. dollar

Economic calendar (GMT0):

(Time/ Region/ Event/ Period/ Previous/ Forecast/ Actual)

00:00 Japan Bank holiday

01:30 Australia New Motor Vehicle Sales (MoM) August -1.3% -1.8%

01:30 Australia New Motor Vehicle Sales (YoY) August -0.4% -3.5%

07:15 Switzerland Producer & Import Prices, m/m August 0.0% -0.2%

07:15 Switzerland Producer & Import Prices, y/y August -0.8% -1.2%

09:00 Eurozone Trade Balance s.a. July 13.8 12.2

The U.S. dollar traded mixed against the most major currencies ahead of the U.S. economic data. The NY Fed Empire State manufacturing index is expected to climb to 15.0 in September from 14.7 in August.

The U.S. industrial production is expected to rise 0.3% in August, after a 0.4% gain in July.

The greenback remained supported on speculation the Fed will start to hike its interest rate sooner than expected. Market participants are awaiting the Fed's interest rate decision on Wednesday. They expect the Fed will cut its asset purchase program by another $10 billion.

The euro traded lower against the U.S. dollar. Eurozone's seasonally adjusted trade surplus declined to 12.2 billion euros in July from 13.8 billion euros in June.

The British pound traded mixed against the U.S. dollar. Scotland's independence referendum on Thursday continued to weigh on the pound.

The Swiss franc traded lower against the U.S. dollar. Switzerland's producer price index (PPI) declined 0.2% in August, after a flat reading in July.

On a yearly basis, Switzerland's PPI fell 1.2% in August, after a 0.8% drop in July.

EUR/USD: the currency pair fell to $1.2914

GBP/USD: the currency pair traded mixed

USD/JPY: the currency pair traded mixed

The most important news that are expected (GMT0):

12:30 U.S. NY Fed Empire State manufacturing index September 14.7 15.0

13:15 U.S. Industrial Production (MoM) August +0.4% +0.3%

13:15 U.S. Capacity Utilization September 79.2% 79.3%

Market Focus
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