• Foreign exchange market. European session: the euro traded higher against the U.S. dollar despite the mostly negative economic data from the Eurozone

Market news

1 October 2015

Foreign exchange market. European session: the euro traded higher against the U.S. dollar despite the mostly negative economic data from the Eurozone

Economic calendar (GMT0):

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

00:00 China Bank holiday

00:00 U.S. FOMC Member Brainard Speaks

01:00 China Non-Manufacturing PMI September 53.4 53.4

01:00 China Manufacturing PMI September 49.7 49.6 49.8

01:35 Japan Manufacturing PMI (Finally) September 51.7 50.9 51

01:45 China Markit/Caixin Manufacturing PMI (Finally) September 47.3 47.0 47.2

01:45 China Markit/Caixin Services PMI September 51.5 51.2 50.5

07:15 Switzerland Retail Sales (MoM) August -0.6% 0.5%

07:15 Switzerland Retail Sales Y/Y August 0.1% Revised From -0.1% -0.3%

07:30 Switzerland Manufacturing PMI September 52.2 51.8 49.5

07:50 France Manufacturing PMI (Finally) September 48.3 50.4 50.6

07:55 Germany Manufacturing PMI (Finally) September 53.3 52.5 52.3

08:00 Eurozone Manufacturing PMI (Finally) September 52.3 52 52

08:30 United Kingdom Purchasing Manager Index Manufacturing September 51.6 Revised From 51.5 51.3 51.5

The U.S. dollar traded mixed against the most major currencies ahead the release of the U.S. economic data. The number of initial jobless claims in the U.S. is expected to increase by 3,000 to 270,000 last week.

The final manufacturing purchasing managers' index is expected to remain unchanged at 53.0 in September.

The ISM manufacturing purchasing managers' index is expected to fall to 50.6 in September from 51.1 in August.

The euro traded higher against the U.S. dollar despite the mostly negative economic data from the Eurozone. Markit Economics released its final manufacturing purchasing managers' index (PMI) for the Eurozone on Thursday. Eurozone's final manufacturing purchasing managers' index (PMI) fell to 52.0 in September from 52.3 in August, in line with a preliminary reading.

"Despite unprecedented central bank stimulus and substantial currency depreciation, the Eurozone manufacturing sector is failing to achieve significant growth momentum and even risks stalling again," Chris Williamson, Chief Economist at Markit said.

Germany's final manufacturing purchasing managers' index (PMI) fell to 52.3 in September from 53.3 in August, down from a preliminary reading of 52.5.

The decline was driven by a fall in input prices.

France's final manufacturing purchasing managers' index (PMI) climbed to 50.6 in September from 48.3 in August, up from the preliminary reading of 50.4.

The increase was mainly driven by a rise in output, which climbed at the fastest pace since March 2014.

The British pound traded mixed against the U.S. dollar after the better-than-expected manufacturing PMI data from the U.K. Markit Economics released its manufacturing purchasing managers' index (PMI) for the U.K. on Thursday. The Markit/Chartered Institute of Procurement & Supply manufacturing PMI for the U.K. decreased to 51.5 in September from 51.6 in August, beating expectations for a fall to 51.3. August's figure was revised up from 51.5.

The decline was driven by a drop in input prices.

Employment also declined in September.

"The UK manufacturing sector remained sluggish at the end of the third quarter, stunned by a triple combination of a sharp slowdown in consumer spending, weak business investment and stagnating export order inflows. The survey is still broadly consistent with stagnation, or even a mild downturn, when compared to official data," Markit's Senior Economist Rob Dobson said.

The Swiss franc traded lower against the U.S. dollar after of the release of the mostly negative Swiss economic data. The Federal Statistical Office released its retail sales data for Switzerland on Thursday. Retail sales in Switzerland declined at an annual rate of 0.3% in August, after a 0.1% rise in July. July's figure was revised up from a 0.1% fall.

Sales of food, beverages and tobacco fell at an annual rate of 0.1% in August, while non-food sales rose 1.1%.

On a monthly basis, retail sales increased by 0.5% in August.

Sales of food, beverages and tobacco were down 0.3% in August, while non-food sales climbed 1.3%.

Credit Suisse released its manufacturing purchasing managers' index (PMI) for Switzerland on Thursday. The manufacturing purchasing managers' index in Switzerland declined to 49.5 in September from 52.2 in August, missing expectations for a decrease to 51.8.

A reading above 50 indicates contraction.

The decrease was largely driven by a drop in production. The production was down to 49.1 in September from 62.4.

EUR/USD: the currency pair climbed to $1.1167

GBP/USD: the currency pair traded mixed

USD/JPY: the currency pair fell to Y119.60

The most important news that are expected (GMT0):

12:30 U.S. Initial Jobless Claims September 267 270

13:45 U.S. Manufacturing PMI (Finally) September 53 53

14:00 U.S. ISM Manufacturing September 51.1 50.6

18:30 U.S. FOMC Member Williams Speaks

23:30 Japan Unemployment Rate August 3.3% 3.3%

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