• Foreign exchange market. European session: the British pound traded mixed against the U.S. dollar after the better-than-expected services PMI from the U.K.

Market news

7 April 2015

Foreign exchange market. European session: the British pound traded mixed against the U.S. dollar after the better-than-expected services PMI from the U.K.

Economic calendar (GMT0):

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

01:30 Australia Retail Sales, M/M March 0.5% Revised From 0.4% 0.4% 0.7%

01:30 Australia Retail Sales Y/Y March 0.5% Revised From 3.1% 0.7%

01:30 Australia ANZ Job Advertisements (MoM) March 0.7% Revised From 0.9% -1.4%

04:30 Australia Announcement of the RBA decision on the discount rate 2.25% 2.25% 2.25%

04:30 Australia RBA Rate Statement

07:00 Switzerland Foreign Currency Reserves March 509.3 522.3

07:50 France Services PMI (Finally) March 52.8 52.8 52.4

07:55 Germany Services PMI (Finally) March 55.3 55.3 55.4

08:00 Eurozone Services PMI (Finally) March 54.3 54.3 54.2

08:30 Eurozone Sentix Investor Confidence April 18.6 20.9 20

08:30 United Kingdom Purchasing Manager Index Services March 56.7 57.1 58.9

09:00 Eurozone Producer Price Index, MoM February -1.1% 0.1% 0.5%

09:00 Eurozone Producer Price Index (YoY) February -3.5% -3.0% -2.8%

The U.S. dollar traded mixed to higher against the most major currencies ahead of the U.S. job openings figures. Job openings are expected to decline to 4.978 million in February from 4.998 million in January.

The euro declined against the U.S. dollar. Concerns over Greece's debt problems continue to weigh on the euro. Greece have to repay the International Monetary Fund (IMF) tranche of 448 million euros on April 09. Greek Finance Minister Yanis Varoufakis has said that Greece will make a payment to the IMF on time.

Eurozone' final services purchasing managers' index (PMI) fell to 54.2 in March from a preliminary reading of 54.3. Analysts had expected the final index to remain unchanged at 54.3.

Germany's final services PMI rose to 55.4 in March from a preliminary reading of 55.3. Analysts had expected the final index to remain unchanged at 55.3.

France's final services PMI declined to 52.4 in March from a preliminary reading of 52.8. Analysts had expected the final index to remain unchanged at 52.8.

The Sentix investor confidence index for the Eurozone rose to 20.0 in April from 18.6 in March, missing expectations for an increase to 20.9.That was the highest level since August 2007.

Eurozone's producer price index climbed 0.5% in February, exceeding expectations for a 0.1% increase, after a 1.1% decline in January. January's figure was revised down from 0.9% drop.

The British pound traded mixed against the U.S. dollar after the better-than-expected services PMI from the U.K. Markit's and the Chartered Institute of Purchasing & Supply's services purchasing managers' index (PMI) for the U.K. increased to 58.9 in March from 56.7 in February, beating expectations for a rise to 57.1.

The rise was driven by an increase in new business.

The Swiss franc traded lower against the U.S. dollar. The Swiss National Bank's foreign exchange reserves increased to 522.323 billion Swiss francs in March from 509.245 billion francs in February. February's figure was revised down from 509.250 billion francs.

EUR/USD: the currency pair fell to $1.0833

GBP/USD: the currency pair traded mixed

USD/JPY: the currency pair rose to Y120.07

The most important news that are expected (GMT0):

14:00 U.S. JOLTs Job Openings February 4998 4978

23:50 Japan Current Account, bln February 61 1150

Market Focus
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