The number of job openings increased to 5.9 million on the last business day of July, the U.S. Bureau of Labor Statistics reported today. Hires and separations were little changed at 5.2 million and 4.9 million, respectively. Within separations, the quits rate was 2.1 percent and the layoffs and discharges rate was 1.1 percent. This release includes estimates of the number and rate of job openings, hires, and separations for the nonfarm sector by industry and by four geographic regions.

On the last business day of July, there were 5.9 million job openings, an increase of 228,000 from June. The job openings rate was 3.9 percent in July. The number of job openings increased over the month for total private (+243,000) and was little changed for government. Job openings increased in professional and business services (+166,000) and durable goods manufacturing (+27,000) but decreased in health care and social assistance (-63,000). The number of job openings was little changed in all four regions.

The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1/2 per cent. The Bank Rate is correspondingly 3/4 per cent and the deposit rate is 1/4 per cent.

Global growth in the first half of 2016 was slower than the Bank had projected in its July Monetary Policy Report (MPR), although the Bank continues to expect it to strengthen gradually in the second half of this year. The US economy was weaker than expected in the second quarter, notably reflecting a contraction in business and residential investment. While a healthy labour market and solid consumption should remain supportive of growth in the rest of the year, the outlook for business investment has become less certain. Meanwhile, global financial conditions have become even more accommodative since July.

While Canada's economy shrank in the second quarter, the Bank still projects a substantial rebound in the second half of this year. Second-quarter GDP was pulled down by the Alberta wildfires in May and by a drop in exports that was larger and more broad-based than expected. Exports disappointed even after accounting for weaker business and residential investment in the United States, adjustments in the resource sector, and cutbacks in auto production. The economy is expected to rebound in the third quarter as oil production recovers, rebuilding commences in Alberta, and consumer spending gets an additional lift from Canada Child Benefit payments. As federal infrastructure spending starts to have more impact, growth in the fourth quarter is projected to remain above potential. While the strength in exports during July was encouraging, the ground lost over previous months raises the possibility that the profile for economic activity will be somewhat lower than anticipated in July.

EURUSD: 1.1100 (EUR 675m) 1.1125-30 (317m) 1.1265 (293m) 1.1400-05 (1.01bln) 1.1410 (1.17bln) 1.1415-25 (914m)

USDJPY: 101.00 (USD 221m) 101.50 (250m) 101.70 (344m) 102.55 (230m) 103.00 (610m) 103.50 (480m)

GBPUSD 1.3300 (GBP 451m) 1.3500 (747m)

EURGBP 0.8300 (340m)

USDCHF 0.9650 (USD 301m) 0.9850 (200m)

AUDUSD: 0.7445-50 ( AUD 519m) 0.7620 (409m)

USDCAD 1.2580 (USD 200m) 1.3021-30 (525m)

AUDJPY 75.10 (AUD 1.05bln)

- Forced to rely on "less reliable" economic data to make predictions after Brexit.

- Now is the time when you need to wait, to assess the necessary response.

- Additional measures could cause a drop in the pound.

BoE Governor Carney:

• Says he's serene about comments since the Brexit vote

• Great uncertainty followed Brexit

• says he's comfortable with decision to add stimulus

• Stimulus ensures sustainable inflation return

• Without stimulus unemployment would have been higher

• Reiterates that all elements of stimulus can be increased

• Says BOE must be prepared to adjust policy as necessary

The following data was published:

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

6:00 Germany Industrial Production (m / m) July 1.1% 0.2% -1.5%

France 6:45 Trade balance, bn -3.5 -3.7 -4.5 July

7:00 UK House Price Index from Halifax, m / m in August -1% -0.2%

7:00 UK House Price Index from Halifax, 3m y / y in August 8.4% 6.9%

8:30 UK Industrial Production m / m in July 0% -0.2% 0.1%

8:30 UK Industrial Production y / y in July 1.4% 1.9% 2.1%

8:30 UK Manufacturing production m / m in July -0.2% -0.4% -0.9%

8:30 UK Manufacturing production, y / y in July 0.6% 1.7% 0.8%

The pound depreciated moderately against the dollar, having lost part of the earned positions yesterday, which was caused by the publication of controversial statistical data on industrial production in the UK. The pressure also helped the dollar to recover against major currencies.

Office for National Statistics (ONS) showed that industrial production in the UK rose in July by 0.1 percent after flat in June. Experts predicted that the production will be reduced by 0.2 percent. Production decreased by 0.9 per cent, exceeding the estimate (-0.4 per cent) in the manufacturing sector, and speeding up the pace compared to June (-0.2 percent). Meanwhile, production in the mining and quarrying sector increased by 4.7 percent. In addition, the ONS reported that annual industrial production growth accelerated to 2.1 percent compared to 1.4 percent in June. This was the fastest growth in three months. It was expected that the figure will increase by 1.9 percent. Manufacturing output increased by 0.8 per cent y/y, after rising 0.6 percent in June (revised from +0.9 per cent). Analysts had forecast an increase in production by 1.7 per cent.

However, the report submitted by Halifax showed that house prices in Britain fell in August, continuing the July trend. As a result of this change the annual growth rate fell to its lowest level for more than a year. House prices fell in August by 0.2 percent after declining 1.1 percent in July. Meanwhile, the annualized price growth slowed to 6.9 percent from 8.4 percent the previous month. Economists had forecast that prices will fall by 0.4 percent compared to July, and will grow by 7.0 percent y/y. For the three months (to August) prices were 0.7 percent higher than in the previous three months, but it was the slowest quarterly growth rate since December 2014. Halifax noted that the number of real estate transactions is also falling - in July, the number of home sales decreased by 1 percent compared with the previous month.

The euro traded in a narrow range against the US dollar, which was due to the lack of new catalysts, as well as the expectations of the ECB meeting. The Statistical Office of Germany reported that industrial output fell sharply at the end of July, registering the largest drop in 23 months, which is another sign of slowing from Europe's largest economy. The report stated that the volume of industrial production decreased by 1.5 percent compared to June. Economists had expected an increase of 0.2 percent. Increased production in the construction sector (+1.8 per cent) and energy production (2.6 percent) was offset by a decline in the manufacturing industry (-2.3 percent).

According to a poll of 70 economists, conducted by Reuters, the ECB will leave its monetary policy unchanged in September, but by the end of the year a QE extension is likely. In addition, many analysts expect the Central Bank will hold its refinancing rate and the deposit rate - at 0.0 percent and -0.4 percent respectively by the end of 2017. The majority of economists said that the central bank will extend its monthly bond purchase program, which will end in March 2017. Few economists have noted that the ECB will soften the policy again by the end of the year, either by reducing the rate and / or expansion of QE program.

EUR / USD: during the European session, the pair is trading in the $ 1.1228- $ 1.1264 range

GBP / USD: during the European session, the pair fell to $ 1.3357

USD / JPY: during the European session, the pair rebounded to Y101.71 from Y101.19

EUR/USD

Offers 1.1265 1.1280 1.1300-10 1.1325 1.1350-55

Ордера на покупку: 1.1220-25 1.1200 1.1185 1.1170 1.1145-50 1.1120 1.1100

GBP/USD

Offers 1.3425 1.3435 1.3450 1.3475-80 1.3500 1.3520-25 1.3550-60

Bids 1.3385-90 1.3355-60 1.3325 1.3300 1.3275-80 1.3255-60 1.3230 1.3200

EUR/GBP

Offers 0.8400 0.8420 0.8445-50 0.8480 0.8500 0.8520-25

Bids 0.8365 0.8350 0.8330 0.8300 0.8280 0.8250

EUR/JPY

Offers 114.50 114.80 115.00 115.40 115.85 116.00

Bids 114.00 113.80 113.50 113.00 112.80 112.50

USD/JPY

Offers 101.80 102.00 102.20 102.50 102.75-80 103.00 103.45-50

Bids 101.20 101.00 100.80 100.50 100.30 100.00 99.75 99.50-55

AUD/USD

Offers 0.7680 0.7700 0.7730 0.7750

Bids 0.7650 0.7625-30 0.7600 0.7580 0.7560 0.7520 0.7500

"The outcome of the forthcoming US Presidential election will not impact the United States' Aaa stable credit rating, says Moody's Investors Service in a report.

That credit rating reflects the US sovereign's very high economic and institutional strength, strong debt affordability and its very low susceptibility to event risk given the role of the US dollar as global reserve currency and US Treasuries as global bond benchmark. These credit strengths indicate the credit rating is resilient to policy shifts or changes in government.

However, spending on non-discretionary social programs is projected to cause the federal deficit to widen significantly over the medium term, which will weaken the US' credit profile if not addressed. The choices made during the next US administration regarding fiscal policy and entitlement spending will have a greater impact on the medium-term credit profile of the United States than has been the case in the recent past, according to the report "Next President's fiscal policies will drive US's credit profile".

"The Governing Council is not closer to being able to demonstrate convincingly that its current policy settings are compatible with headline inflation returning to target by the end of the forecast horizon.

We look for three ECB policy announcements:

1- We think extension of asset purchases for at least six months would be a first step in the right direction.

2- alongside changes to QE modalities to circumvent any scarcity issues.

3- We also expect a 10bp cut in the refinancing rate to -0.1% to be the first step, ahead of a 10bp cut in the deposit rate to -0.5% in March 2017".

Copyright © 2016 CitiFX, eFXnews™

EUR/USD: 1.1100 (EUR 675m) 1.1125-30 (317m) 1.1265 (293m) 1.1400-05 (1.01bln) 1.1410 (1.17bln) 1.1415-25 (914m0

USD/JPY: 101.00 (USD 221m) 101.50 (250m) 101.70 (344m) 102.55 (230m) 103.00 (610m) 103.50 (480m)

GBP/USD 1.3300 (GBP 451m) 1.3500 (747m)

EUR/GBP 0.8300 (340m)

USD/CHF 0.9650 (USD 301m) 0.9850 (200m)

AUD/USD: 0.7445-50 ( AUD 519m) 0.7620 (409m)

USD/CAD 1.2580 (USD 200m) 1.3021-30 (525m)

AUD/JPY 75.10 (AUD 1.05bln)

ONS: this is the first release of Index of Production (IoP) covering data post EU referendum. The release shows production is relatively flat month on month in July 2016 with a fall in manufacturing negated by a rise in oil and gas. Users should note that ONS always warns against overly interpreting one month's figures.

In July 2016, total production output was estimated to have increased by 2.1% compared with July 2015. All main sectors saw production increase with mining & quarrying providing the largest contribution to growth, increasing by 7.2%.

Manufacturing was estimated to have increased by 0.8% over the same period. Transport equipment provided the largest contribution to growth, increasing by 5.7%.

Comparing July 2016 with June 2016, production output is estimated to have increased by 0.1%.

Manufacturing was the only sector to contract from June 2016, falling by 0.9% with the largest contribution from pharmaceuticals. However, this was offset by growth in the other three sectors, particularly mining & quarrying, which increased by 4.7%.

At 09:15 GMT the Bank of England Deputy Governor for Financial Stability John Cunliffe deliver a speech

At 09:30 GMT Germany will hold an auction of 10-year bonds

At 13:15 GMT, the Bank of England will held parliamentary hearings on the issues of inflation and Governor Mark Carney will deliver a speech, member of the Commission of the Bank of England Kristin Forbes will deliver a speech, and the Commission of the Bank of England member Gertjan Vlige will deliver a speech

At 14:00 GMT the Bank of Canada decision on the interest rate

AT 14:00 FOMC Member Easter George will deliver a speech

At 22:55 GMT RBA Deputy Governor Philip Lowe will deliver a speech

"Q2 GDP fell by 1.6% QoQ, confirming a significant slowdown in growth even after accounting for the impact of the Fort McMurray wildfire. Without the updated macroeconomic projections we believe the BoC will largely stay the course at the September meeting.

There should be some acknowledgement of an even Q2 GDP result than the central bank had been expecting but the BoC will wait until the October monetary policy report before considering any changes to the forward guidance or changing its assessment that the "overall balance of risks remains within the zone for which the current stance of monetary policy is appropriate".

Going forward the BoC's margin for error is quite small in our view. With potential growth of about 1.5% it will take a GDP expansion of well above 3% during the second half of the year to make any meaningful impact on reducing the output gap. This means that BoC may need to change its message in October if incoming data disappoints.

Nearterm volatility in USD/CAD is still mainly driven by external factors and with crude likely to remain under USD50/bl we continue to see dips in USD/CAD below 1.30 as buying opportunities".

Copyright © 2016 Credit Agricole CIB, eFXnews™

EUR/USD

Resistance levels (open interest**, contracts)

$1.1361 (3523)

$1.1323 (4058)

$1.1295 (5080)

Price at time of writing this review: $1.1254

Support levels (open interest**, contracts):

$1.1214 (1936)

$1.1182 (2933)

$1.1141 (3529)

Comments:

- Overall open interest on the CALL options with the expiration date September, 9 is 52986 contracts, with the maximum number of contracts with strike price $1,1250 (5080);

- Overall open interest on the PUT options with the expiration date September, 9 is 58198 contracts, with the maximum number of contracts with strike price $1,1000 (5662);

- The ratio of PUT/CALL was 1.10 versus 1.10 from the previous trading day according to data from September, 6

GBP/USD

Resistance levels (open interest**, contracts)

$1.3700 (695)

$1.3601 (791)

$1.3502 (1790)

Price at time of writing this review: $1.3418

Support levels (open interest**, contracts):

$1.3299 (849)

$1.3200 (709)

$1.3100 (1495)

Comments:

- Overall open interest on the CALL options with the expiration date September, 9 is 32552 contracts, with the maximum number of contracts with strike price $1,3300 (2814);

- Overall open interest on the PUT options with the expiration date September, 9 is 28228 contracts, with the maximum number of contracts with strike price $1,2800 (2704);

- The ratio of PUT/CALL was 0.87 versus 0.84 from the previous trading day according to data from September, 6

* - The Chicago Mercantile Exchange bulletin (CME) is used for the calculation.

** - Open interest takes into account the total number of option contracts that are open at the moment.

• Says it makes sense to raise interest rates gradually, sooner than later

• Says US economy is in good shape, headed in right direction

• Sees unemployment rate dropping to 4.5 pct over coming year

• Sees inflation rising to 2 pct in next year or two

• Fed's low inflation target is not well suited to era of persistently low interest rates

• Fed should consider raising inflation target, switching to nominal GDP-targeting

• Says now is the time for Fed to actively study new policy options

According to rttnews, Australia's gross domestic product expanded a seasonally adjusted 0.5 percent on quarter in the second quarter of 2016, the Australian Bureau of Statistics said on Wednesday.

That was shy of expectations for 0.6 percent following the downwardly revised 1.0 percent increase in the first quarter (originally 1.1 percent).

On a yearly basis, GDP gained 3.3 percent - matching forecasts and up from the downwardly revised 3.0 percent gain in the three months prior (originally 3.1 percent).

Terms of trade increased 2.3 percent on quarter and fell 5.4 percent on year.

In July 2016,production in industry was down by 1.5% from the previous month on a price, seasonally and working day adjusted basis according to provisional data of the Federal Statistical Office (Destatis). In June 2016, the corrected figure shows an increase of 1.1% (primary +0.8%) from May 2016.

In July 2016, production in industry excluding energy and construction was down by 2.3%. Within industry, the production of capital goods decreased by 3.6% and the production of consumer goods by 2.6%.The production of intermediate goods decreased by 0.8%. Energy production was up by 2.6% in July 2016 and the production in construction increased by 1.8%.

(pare/closed(GMT +3)/change, %)

EUR/USD $1,1248 +0,91%

GBP/USD $1,3423 +0,87%

USD/CHF Chf0,9699 -1,01%

USD/JPY Y102,09 -1,30%

EUR/JPY Y114,12 -1,02%

GBP/JPY Y137,02 -0,74%

AUD/USD $0,7681 +1,28%

NZD/USD $0,7410 +1,46%

USD/CAD C$1,2846 -0,61%

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

01:30 Australia Gross Domestic Product (QoQ) Quarter II 1.1% 0.4%

01:30 Australia Gross Domestic Product (YoY) Quarter II 3.1% 3.2%

05:00 Japan Leading Economic Index (Preliminary) July 99.2

05:00 Japan Coincident Index (Preliminary) July 111.1

06:00 Germany Industrial Production s.a. (MoM) July 0.8% 0.2%

06:45 France Trade Balance, bln July -3.4

07:00 United Kingdom Halifax house price index August -1%

07:00 United Kingdom Halifax house price index 3m Y/Y August 8.4%

08:30 United Kingdom Industrial Production (MoM) July 0.1% -0.2%

08:30 United Kingdom Industrial Production (YoY) July 1.6% 1.9%

08:30 United Kingdom Manufacturing Production (MoM) July -0.3% -0.4%

08:30 United Kingdom Manufacturing Production (YoY) July 0.9% 1.7%

14:00 United Kingdom NIESR GDP Estimate Quarter III 0.3%

14:00 Canada Ivey Purchasing Managers Index August 57

14:00 Canada Bank of Canada Rate 0.5% 0.5%

14:00 Canada BOC Rate Statement

14:00 U.S. JOLTs Job Openings July 5.624

18:00 U.S. Fed's Beige Book

23:50 Japan Current Account, bln July 974.4 2090

23:50 Japan GDP, q/q (Finally) Quarter II 0.5% 0%

23:50 Japan GDP, y/y (Finally) Quarter II 2% 0.0%