• Foreign exchange market. European session: the U.S. dollar traded lower against the most major currencies ahead of the U.S. labour market data

Market news

7 August 2015

Foreign exchange market. European session: the U.S. dollar traded lower against the most major currencies ahead of the U.S. labour market data

Economic calendar (GMT0):

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

01:30 Australia Home Loans June -7.3% Revised From -6.1% 5% 4.4%

03:00 Japan BoJ Interest Rate Decision 0% 0%

03:00 Japan Bank of Japan Monetary Base Target 275 275 275

03:00 Japan BoJ Monetary Policy Statement

05:45 Switzerland Unemployment Rate (non s.a.) July 3.1% 3.1%

06:00 Germany Current Account June 11.8 Revised From 11.1 24.4

06:00 Germany Trade Balance June 19.5 Revised From 19.6 24.0

06:00 Germany Industrial Production s.a. (MoM) June 0.2% Revised From 0.0% 0.3% -1.4%

06:00 Germany Industrial Production (YoY) June 2.4% Revised From 2.1% 0.6%

06:30 Japan BOJ Press Conference

06:45 France Trade Balance, bln June -4.0 -2.7

06:45 France Industrial Production, m/m June 0.4% 0.2% -0.1%

06:45 France Industrial Production, y/y June 1.6% Revised From 2.4% 1.0%

08:30 United Kingdom Total Trade Balance June -0.9 Revised From -0.393 -1.6

The U.S. dollar traded lower against the most major currencies ahead of the U.S. labour market data. Analysts expect that U.S. unemployment rate is expected to remain unchanged at 5.3% in July. The U.S. economy is expected to add 218,000 jobs in July, after adding 223,000 jobs in June.

The euro traded higher against the U.S. dollar after the mixed data from the Eurozone. German industrial production dropped 1.4% in June, missing expectations for a 0.3% gain, after a 0.2% rise in May. It was the biggest decline since August 2014.

May's figure was revised up from a flat reading.

The output of capital goods plunged 2.6% in June, energy output climbed 2.3%, and the production in the construction sector was down 4.5%, while the production of intermediate goods fell 0.3%.

The output of consumer goods decreased 0.2%.

Germany's seasonally adjusted trade surplus was €22.0 billion in June.

Exports fell at a seasonally and calendar-adjusted 1.0% in June, while imports declined 0.5%.

According to the French Customs, France's trade deficit narrowed to €2.66 billion in June from €4.0 billion in May. It was the lowest level since March 2007.

The decline in deficit was driven by a rise in exports of transport equipment.

Industrial production in France fell 0.1% in June, missing expectations for a 0.2% rise, after a 0.4% gain in May.

The decline was driven by a drop in manufacturing and construction output. Manufacturing output was down 0.7% in June, while construction output decreased 2.5%.

On a yearly basis, the French industrial production rose 1.0% in June, after a 1.6% gain in May. May's figure was revised down from a 2.4% increase.

The British pound traded higher against the U.S. dollar despite the weak U.K. trade data. The U.K. trade deficit in goods widened to £9.2 billion in June from £8.4 billion in May. May's figure was revised up from a deficit of £8.00 billion.

The rise in the trade deficit was driven by a weaker demand in the Eurozone and a stronger pound.

The total trade deficit, including services, widened to £1.60 billion in June from £0.89 billion in May. May's figure was revised up from a deficit of £0.39 billion.

The Canadian dollar traded higher against the U.S. dollar ahead of the Canadian labour market data. The unemployment rate in Canada is expected to remain unchanged at 6.8% in July.

Canada's economy is expected to add 5,000 jobs in July.

The Canadian building permits are expected to rise 5.0% in June, after a 14.5% drop in May.

The Swiss franc traded lower against the U.S. dollar. The Swiss unemployment rate remained unchanged at a seasonally adjusted 3.3% in July.

On a seasonally unadjusted basis, the unemployment rate in Switzerland remained unchanged at 3.1% in July.

The number of unemployed people in Switzerland rose to 133,754 in July from 133,256 in June.

EUR/USD: the currency pair increased to $1.0949

GBP/USD: the currency pair rose to $1.5527

USD/JPY: the currency pair fell to Y124.63

The most important news that are expected (GMT0):

12:30 Canada Building Permits (MoM) June -14.5% 5%

12:30 Canada Unemployment rate July 6.8% 6.8%

12:30 Canada Employment July -6.4 5

12:30 U.S. Average hourly earnings July 0.0% 0.2%

12:30 U.S. Nonfarm Payrolls 223 223

12:30 U.S. Unemployment Rate July 5.3% 5.3%

14:00 Canada Ivey Purchasing Managers Index July 55.9 52

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