• Foreign exchange market. European session: the British pound traded higher against the U.S. dollar after the release of the Bank of England’s (BoE) interest rate decision

Market news

10 September 2015

Foreign exchange market. European session: the British pound traded higher against the U.S. dollar after the release of the Bank of England’s (BoE) interest rate decision

Economic calendar (GMT0):

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

01:30 Australia Changing the number of employed August 39.2 Revised From 37.9 5 17.4

01:30 Australia Unemployment rate August 6.3% 6.2% 6.2%

01:30 China PPI y/y August -5.4% -5.5% -5.9%

01:30 China CPI y/y August 1.6% 1.8% 2.0%

06:45 France Industrial Production, m/m July 0.0% Revised From -0.1% 0.2% -0.8%

06:45 France Industrial Production, y/y July 1.0% Revised From 0.7% 0.7%

11:00 United Kingdom BoE Interest Rate Decision 0.5% 0.5% 0.5%

11:00 United Kingdom Asset Purchase Facility

11:00 United Kingdom MPC Rate Statement

The U.S. dollar traded mixed against the most major currencies ahead of the release of the U.S. economic data. The number of initial jobless claims in the U.S. is expected to decrease by 7,000 to 275,000 last week.

Wholesale inventories in the U.S. are expected to rise 0.3% in July, after a 0.9% gain in June.

The euro traded slightly lower against the U.S. dollar after the mixed economic data from the Eurozone. The French statistical office Insee its industrial production figures on Thursday. Industrial production in France fell 0.8% in July, missing expectations for a 0.2% rise, after a flat reading in June. June's figure was revised up from a 0.1% decline.

The decline was driven by a drop in electrical and electronic equipment output, which fell 2.0%.

On a yearly basis, the French industrial production rose 0.7% in July, after a 1.0% gain in June. June's figure was revised up from a 0.7% increase.

Spanish statistical office INE released its industrial production figures for Spain on Thursday. Industrial production in Spain was up 0.6% in July, after a 0.4% gain in June.

On a yearly basis, industrial production in Spain climbed at adjusted 5.2% in July, after a 4.5% increase in June.

The British pound traded higher against the U.S. dollar after the release of the Bank of England's (BoE) interest rate decision. The BoE kept its interest rates unchanged at 0.5% and its asset purchase program unchanged at £375 billion. This decision was widely expected.

The Bank of England's Monetary Policy Committee (MPC) released its September meeting minutes today. 8 members voted to keep the central bank's monetary policy unchanged. Ian McCafferty voted to hike interest rate.

MPC members noted that the risks from the slowdown in the Chinese economy rose since August.

The Canadian dollar traded lower against the U.S. dollar ahead of the release of the economic data from Canada. Canada's new housing price index is expected to rise 0.2% in July, after a 0.3% gain in June.

The Canadian capacity utilization rate is expected to decrease 81.7% in the second quarter from 82.7% in the first quarter.

EUR/USD: the currency pair fell to $1.1171

GBP/USD: the currency pair rose to $1.5447

USD/JPY: the currency pair increased to Y121.33

The most important news that are expected (GMT0):

12:30 Canada Capacity Utilization Rate Quarter II 82.7% 81.7%

12:30 Canada New Housing Price Index, MoM July 0.3% 0.2%

12:30 U.S. Import Price Index August -0.9% -1.6%

12:30 U.S. Initial Jobless Claims September 282 275

14:00 U.S. Wholesale Inventories July 0.9% 0.3%

23:50 Japan BSI Manufacturing Index Quarter III -6

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.