• Foreign exchange market. Asian session: the euro rose on ECB Draghi's comments

Market news

23 October 2015

Foreign exchange market. Asian session: the euro rose on ECB Draghi's comments

Economic calendar (GMT0):

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

01:35 Japan Manufacturing PMI (Preliminary) October 51 50.6 52.5

05:00 Japan Coincident Index (Finally) August 113.1 112.2

05:00 Japan Leading Economic Index (Finally) August 105 103.5

The euro rose on comments by European Central Bank President Mario Draghi. The EUR/USD pair is trading above Thursday close level, which can be explained by profit taking. Yesterday the ECB decided to keep its benchmark rate at 0.05%, where it had been over a year. The deposit rate was left at -0.2%. ECB President Draghi said that the central bank will assess sufficiency of current stimulus measures at the next meeting in December.

The yen rose on Japanese manufacturing activity data from Nomura/JMMA. The corresponding PMI rose to 52.5 in October vs 51.00 reported previously and 50.6 expected. This is the highest reading in 18 months.

The Australian dollar rose amid upbeat data on China's real estate market. An average price of a new home in China rose by 0.2% m/m in September compared to +0.1% in August. Prices rose in 39 towns out of 70. Prices in Beijing rose by 4.7%, while prices in Shanghai advanced by 8.3%.

EUR/USD: the pair fluctuated within $1.1070-20 in Asian trade

USD/JPY: the pair traded within Y120.60-00

GBP/USD: the pair rose to $1.5415

The most important news that are expected (GMT0):

(time / country / index / period / previous value / forecast)

07:00 France Services PMI (Preliminary) October 51.9 51.6

07:00 France Manufacturing PMI (Preliminary) October 50.6 50.2

07:30 Germany Manufacturing PMI (Preliminary) October 52.3 51.6

07:30 Germany Services PMI (Preliminary) October 54.1 53.9

08:00 Eurozone Services PMI (Preliminary) October 53.7 53.5

08:00 Eurozone Manufacturing PMI (Preliminary) October 52 51.7

12:30 Canada Consumer Price Index m / m September 0.0% -0.1%

12:30 Canada Consumer price index, y/y September 1.3% 1.1%

12:30 Canada Bank of Canada Consumer Price Index Core, y/y September 2.1% 2.1%

13:00 Belgium Business Climate October -6.8

13:45 U.S. Manufacturing PMI (Preliminary) October 53.1 52.8

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